Table of Content
Equinox Markets Review – Reasons to Avoid This Scam Broker
Table of Content
The financial market arena is all set. A brave and young Equinox Markets Review, equipped with the dagger of truth and a muleta of facts, will attempt to defeat the vicious, wallet-threatening scammer beast known as Equinox Markets.
Odds are, the review will prevail because it has justice on its side. No more toro, toro, it’s time to rip this fraudulent broker to shreds.
|Leverage||Up to 1:500|
|Headquarters||Suite 305, Griffith Corporate Centre, Beachmont, Kingstown, St. Vincent and the Grenadines & 71-75 Shelton Street, Covent Garden, London WC2H 9JQ, England|
|Broker Type||Forex, Indices, Crypto, Commodities|
|Spread||As low as 0.75 pips|
Is Equinox Markets A Legit Broker? Regulation and Security
First and foremost, we will address the utter mess that Equinox Markets cooked up on its website related to regulations. Allegedly, the broker operates in Singapore, Malaysia, Indonesia, Cambodia, Hong Kong and China all while having its HQ in St. Vincent and the Grenadines (SVG).
In addition, it claims to be licensed by the US National Futures Association (FTA), the Canadian Financial Transactions and Reports Analysis Center and SVG’s Financial Services Authority (FSA). To add icing on the cake, the shady broker says it belongs to Equinox Markets Limited which operates in the UK.
Wow, talk about being Mr. Worldwide. This fraudster would make the rapper Pitbull jealous. There’s a lot to unpack here. The most important fact to point out here is that the FCA does not license Forex trading, as stated on its website. That’s a huge blow to our scammer’s claims. Secondly, the FTA does not regulate entities outside the US.
But what about the owner company being in the UK? That’s an easy one; for it to operate legally in that country, it would have to be registered with the Financial Conduct Authority (FCA). With a few clicks, we checked the FCA website and found nothing on Equinox Markets Limited (UK).
In another instance, the broker mentions Seychelles but at this point, it’s just too much. The legal documentation is misleading as hell, probably to confuse the readers as much as possible. With all that being said, our conclusion is that Equinox Markets is an unregulated scammer.
Overview of the Equinox Markets Trading Software
On the scam broker’s website, we had the option to choose between WebTrader and cTrader. However, we read that Equinox offers Meta Trader 4 in the legal section but there’s no link to it on the website. This discrepancy is alarming.
Nevertheless, Equinox boasts its cTrader and claims it’s available for mobile, desktop and web. If you register, the financial swindler would probably allow you to check out the platform but keep in mind that it’s susceptible to manipulation.
Account Types Provided
We found three account types on the website:
- Mercury – min. deposit of $1,000, max leverage of 1:500, spread from 2.5 pips;
- Saturn – $10,000, max leverage of 1:500, spread from 1.5 pips;
- Pluto – $25,000, max leverage of 1:500, spread from 0.75 pips.
In addition to these, Equinox claims to offer a demo account as well. Now, if this broker were really regulated by the previously mentioned authorities, it wouldn’t be allowed to set leverage at 1:500 since the limit is 1:30 (EU, UK) and 1:50 (US, Canada). As for spreads, the ones offered are as wide as a football pitch and will hardly yield any profits.
Trading Instrument Available
According to the website, Equinox claims it offers the following assets:
- Forex pairs;
- Precious metals;
We were unable to see which instruments you can trade since the table just kept loading indefinitely. It matters not because it’s clear that we’re dealing with a scam. Even if you do find instruments, trading them with an unlicensed broker is detrimental.
Bonuses and Promotions Offered
As soon as you see that a suspicious broker starts offering bonuses and promotions, turn away. There’s a reason regulators banned providers from issuing bonuses. These are deemed non-deposited funds and will require you to trade up to a baffling amount just to be able to withdraw money. This is how scammers implement their schemes.
Funding Method Available
In the Deposits & Withdrawals menu, we are treated with multiple payment methods. Most of them, some e-wallets, are not that well-known. What we are familiar with is credit/debit cards and crypto (Bitcoin, Ethereum & Tether). The minimum deposit is $1,000, way too much for an unlicensed broker.
How Do I Recoup the Funds I Lost to Equinox Markets?
The sharp horns of this scammer were no match for our experience and facts. However, the last thing we have to tell you is how to get your money back.
If you’ve paid with a credit/debit card, then you ought to request a chargeback at the issuing bank. This must be done within 540 days. However, it will only work if you haven’t given copies of your personal documents to the scammer.
For crypto transactions, some think they’re irreversible but there is a way. Once you track the transaction within an exchange, it will lead you to a wallet. Only then can you request a refund from the exchange?
Equinox Markets Summary
- Equinox Markets is an unregulated offshore provider based in SVG;
- It is owned by Equinox Markets Limited, which falsely claims to be based in the UK;
- The broker posted preposterous lies about being regulated on its website;
- The minimum deposit is $1,000;
- Available trading software includes cTrader and WebTrader.
FAQs About Equinox Markets Broker
Is Equinox Markets A Good Broker?
Equinox Markets is not a good broker because it is not honest or regulated.
Is My Money Safe at Equinox Markets?
Your money is definitely not safe with Equinox Markets because the broker is unregulated and shady.
What Is The Minimum Deposit for Equinox Markets?
The minimum deposit that Equinox Markets requires clients to make is $1,000.