Equinox Markets Review: Who Is Behind EquinoxMarkets.Com?
The Equinox Markets website looks decent but that is where their advantages end. The broker in question skillfully manipulates prospective users, claiming to be the leading stock market and CFD company in the world, with offices in several countries, such as Singapore, Indonesia, Hong Kong, the UK, China, the US, Malaysia, and Cambodia.
It should be noted that obtaining so many licenses is almost impossible, as each of the listed jurisdictions has its own rules. It turns out that Equinox Markets is not regulated.
In fact, it is a fraudulent broker who tries to attract as many users as possible with a flashy website. They even display fake awards in an attempt to appear more reliable.
We advise you to avoid this financial swindler, and if you are still not sure what would be the smartest thing to do, read our Equinox Markets review to the end before making a decision.
Furthermore, we advise you to avoid fraudulent brokers like Avex Capital, OnspotBNK, and XCM Markets.
|Address||71-75 Shelton Street, Covent Garden, London WC2H 9JQ England|
Licensing and Security of Equinox Markets
As we already mentioned, Equinox Markets has offices in more than 10 countries, but according to the documentation provided on the website, it seems that the headquarters of this broker is in St. Vincent and the Grenadines.
On the website, we also found the proprietary company Equinox Markets Limited, which was allegedly founded in the UK and licensed in the US. But the broker also mentions the home jurisdiction of Seychelles and St. Vincent and the Grenadines.
Equinox Markets says it is licensed by the FSA from SVG. Though all of this is confusing, a bigger problem is that this regulatory body is not in charge or supervises the brokerage market which means that no one supervises the company’s operations.
We have also found a warning issued by the regulatory body FCA against Equinox Markets. We also checked other regulatory bodies related to the countries in which the company operates, but we didn’t find anything.
The broker even lied about being regulated by SVG, more precisely they said that they are regulated by the National Futures Association of St. Vincent and the Grenadines, which also doesn’t oversee the financial market and cannot issue licenses of this kind.
Besides that, they also lied about being licensed by FINTRAC, The Financial Transactions and Reports Analysis Centre of Canada.
Trading Platform Overview
Equinox Markets claims on its website that it offers one of the most popular trading platforms, the well-known MetaTrader4. This is one of the most used pieces of software in the industry.
The platform offers many possibilities, such as extensive interface customization options, the use of multiple accounts, and the possibility of implementing scripts for automated trading and strategy testing.
Although it is an industry-standard platform, we advise you to avoid Equinox Markets, as the scammer has put out too much false information. Unregulated brokers simply shouldn’t be given a chance, as they are tricksters whose only goal is to rip you off.
Deposits and Withdrawals Methods
Equinox Markets states on its website that it accepts payment methods made via Visa and Mastercard cards, bank transfers, pre-paid debit cards, and local transfers. When you try to make a bank transfer, you will be asked to send a document as proof that the transfer was made to an Equinox Markets account, but there is no account information.
There are also mentions of other non-secure platforms such as:
The broker, of course, also accepts cryptocurrencies. The minimum deposit is 1000 dollars, which is too much, even if Equinox Markets was regulated because there are brokers on the market where a micro order costs from 5 to 10 dollars.
Bonuses and Promotions Offered by Equinox Markets
The company really tries hard to further manipulate their clients into believing they’ve hit a jackpot by presenting them with all sorts of bonuses that can be made.
On the “Promotions” section of the website, we can see a wide assortment of bonuses and promotions related to trading with specific assets. However, upon clicking on a link that’s supposed to take us to a page where we can find more information, nothing happens.
As with everything else that this fraudster offers the bonuses and promotions are fake and only serve to lure unsuspecting victims into making a giant mistake.
How Is Fraud Set Up?
Equinox Markets conducts fraud by providing a bunch of false information on the website that is of crucial importance to its scam.
Since the company states that it operates all over the world, with many satisfied users, and also lists the awards it has, it manages to attract inexperienced traders.
When traders decide to make a payment, the broker will probably force them to make the payment in cryptocurrencies, because such transactions are irreversible.
The customer will have no one to complain to because the company is unregulated, and they will not be able to reverse the payment, as this is not enabled for crypto transactions.
Top Forex Brokerages
It is best to have someone more experienced recommend you a brokerage house if you want to invest. If you don’t know anyone who can recommend a good brokerage to you, we will do it for you. We have compiled a list of the best-rated brokers on the market in the table below.
There is no fear of fraud with these companies because they are all regulated and licensed. In addition, we have left you with more options depending on what you want to trade and how much money you want to invest, so we believe you will find your ideal broker.
|FXTM Broker||Cyprus, UK, Mauritius||4.5||$10||Forextime.Com|
|OctaFX Broker||Cyprus, SVG||4.4||$100||OctaFX.Com|
|FP Markets Broker||Australia, Cyprus||4.7||$100||FpMarkets.Com|
|XM Broker||Cyprus, Belize, Australia||4.7||$5||XM.Com|
|HFM HF Markets Broker||Cyprus, UK, South Africa, UAE, Kenya||4.3||$5||HFM.Com|
|FBS Broker||Cyprus, Belize, Marshall Islands||4.85||$100||FBS.Com|
Equinox Markets Summary
Equinox is a scam broker. The only thing that sets it apart is the effort the company put into making it look legitimate. When you’re dealing with an investment scam it’s best to stay away from it completely. That is why we advise you to avoid Equinox Markets and all other brokers that have some similarities with this broker. We hope that we warned you in time and that your money remained safe.
FAQs About Equinox Markets Broker
Is Equinox Markets a Regulated Broker?
Equinox Markets is not a regulated broker.
Is My Money Safe with Equinox Markets?
Your money is not safe with Equinox Markets, and neither is your personal information.
Does Equinox Markets Offer a Demo Account?
Equinox Markets offers users a Demo Account.