OnEquity Forex Broker
Basic Information
Seychelles
2-5 years Regulated in Seychelles Regulated in South Africa Retail Forex License Financial Service Corporate MT4 Full License MT5 Full License Global Business Suspicious Overrun Medium potential risk Offshore RegulatedCompany Summary
Rating Index
Plus
Elite
Onequity Forex Broker - Complete Information Guide
1. Broker Overview
Onequity, officially known as Onequity Ltd, was founded in 2022 and is headquartered in Mahé, Seychelles. This brokerage operates as a private entity and has rapidly established itself in the online trading market, catering to a diverse clientele that includes both retail and institutional traders. The firm's mission is to democratize access to global financial markets, providing traders of all skill levels with the necessary tools and resources for successful trading.
Onequity's development has been marked by significant milestones, including the acquisition of regulatory licenses from reputable authorities, enabling it to offer a range of trading services. The company operates under a multi-entity structure, which includes Onequity (Pty) Ltd in South Africa and Onequity LLC in Saint Vincent and the Grenadines, allowing it to reach a broader market.
The business model of Onequity focuses primarily on retail forex and CFD trading, providing clients access to various financial instruments, including forex, commodities, indices, stocks, and cryptocurrencies. This diverse offering positions Onequity as a versatile broker in the competitive trading landscape.
2. Regulation and Compliance Information
Onequity is regulated by multiple financial authorities, ensuring adherence to international standards. The primary regulatory bodies include:
- Seychelles Financial Services Authority (FSA): License No. SD 154
- Financial Sector Conduct Authority (FSCA), South Africa: License No. 53187
- Financial Services Authority, Saint Vincent and the Grenadines: Registration No. 286 LLC 2020
The licenses granted to Onequity allow it to operate within the guidelines set forth by these regulatory bodies, focusing on investor protection and market integrity. The broker adheres to strict policies, including the segregation of client funds, ensuring that traders' assets are kept separate from the firm's operational funds. Additionally, Onequity implements Know Your Customer (KYC) and Anti-Money Laundering (AML) measures to further enhance security and compliance.
While Onequity offers negative balance protection, which ensures clients cannot lose more than their account balance, it does not participate in any compensation schemes for investor protection. This aspect may raise concerns for some traders regarding the safety of their funds, particularly in the context of its offshore regulatory status.
3. Trading Products and Services
Onequity provides a comprehensive range of trading products, making it suitable for various trading strategies. The available instruments include:
- Forex: Over 50 currency pairs, including major, minor, and exotic pairs.
- CFDs on Indices: Access to major global indices, including the NASDAQ 100 and DAX 30.
- CFDs on Commodities: Trading options for various commodities such as gold, silver, and oil.
- CFDs on Stocks: A selection of 151 stock CFDs, primarily from the US and European markets.
- Cryptocurrencies: Trading options for 15 cryptocurrency pairs, allowing traders to speculate on the price movements of popular digital currencies.
The variety of products offered by Onequity allows traders to diversify their portfolios and explore different market opportunities. However, the depth of offerings in specific asset classes, such as cryptocurrencies and stocks, could be improved to enhance the trading experience further.
4. Trading Platforms and Technology
Onequity supports two of the most popular trading platforms in the industry: MetaTrader 4 (MT4) and MetaTrader 5 (MT5). These platforms are known for their robust functionality, user-friendly interfaces, and advanced trading tools.
MetaTrader 4 (MT4): Ideal for forex trading, MT4 provides essential tools for technical analysis, charting, and automated trading through Expert Advisors (EAs). It supports multiple order types and offers a wide range of technical indicators.
MetaTrader 5 (MT5): This platform offers additional features, including more timeframes, an integrated economic calendar, and advanced strategy testing capabilities. It is designed for traders who require extensive analytical tools and a versatile trading environment.
Both platforms are accessible through web, desktop, and mobile applications, allowing traders to execute trades and manage their accounts from various devices. Onequity's trading infrastructure is hosted in Equinix data centers, ensuring optimal execution speeds and low latency.
5. Account Types and Trading Conditions
Onequity offers three main account types, each designed to cater to different trader profiles:
Plus Account:
Minimum Deposit: $25
Spreads: Starting from 1.5 pips
Commission: None
Leverage: Up to 1:1000
Available Instruments: Over 300
Prime Account:
Minimum Deposit: $1,000
Spreads: Starting from 0.4 pips
Commission: $5 per lot
Leverage: Up to 1:1000
Available Instruments: Over 300
Elite Account:
Minimum Deposit: $5,000
Spreads: Starting from 0.0 pips
Commission: $5 per lot
Leverage: Up to 1:1000
Available Instruments: Over 300
All account types provide negative balance protection and allow for various trading strategies, including scalping and hedging. Additionally, Onequity offers an Islamic account option for traders who adhere to Sharia law.
6. Fund Management
Onequity provides multiple deposit and withdrawal methods, ensuring convenience for its users. The available deposit methods include:
- Credit/Debit Cards: Processed within 24 hours.
- E-wallets: Such as Skrill and Neteller, processed within 30 minutes.
- Bank Wire Transfers: Processed within 3-5 days.
- Cryptocurrency Transactions: Processed within 30 minutes.
There are no fees for deposits or withdrawals, making it an attractive option for traders. Onequity also does not impose a minimum withdrawal limit, allowing for flexibility in fund management.
7. Customer Support and Educational Resources
Onequity offers customer support through various channels, including email and phone. However, it lacks a live chat option, which may be a drawback for traders seeking immediate assistance. The support team is available 24/5, ensuring traders can receive help during market hours.
The broker's website is available in multiple languages, including English, Portuguese, Spanish, Arabic, Japanese, and German, catering to a diverse clientele.
In terms of educational resources, Onequity currently provides limited materials, with only a few articles and a trading glossary available. The absence of comprehensive educational content, such as webinars or tutorials, may hinder novice traders from effectively learning the intricacies of trading.
8. Regional Coverage and Restrictions
Onequity operates globally, accepting clients from various countries. However, it does not provide services to residents of the United States, Canada, North Korea, Yemen, Iran, Belgium, and Syria due to regulatory restrictions. The broker's presence in different regions allows it to cater to a diverse client base while complying with local regulations.
In conclusion, Onequity is a promising broker that offers a range of trading products and competitive conditions. While it has several attractive features, traders should consider its regulatory status and the associated risks before opening an account. The platform's integration with popular trading software and its commitment to providing a secure trading environment make it a viable option for both new and experienced traders looking to explore the financial markets.
Overall, the Onequity broker has positioned itself as a competitive player in the forex and CFD trading industry, providing traders with the necessary tools and resources to succeed.
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Latest Reviews
hansamuhito
Indonesia
Onequity broker has canceled my profits, claiming abuse of hedging. However, Onequity cannot prove that I engaged in abuse hedging. This is merely an excuse not to pay my profits. Initially, Onequity requested a selfie, which I provided. But in the end, they canceled my profits and only returned my initial deposit. In this case, I have been greatly disadvantaged by Onequity. Now I can no longer access my cabinet, and my trading account has been deleted. However, I have saved the screenshots. Be cautious with Onequity; they don’t pay out profits.
Exposure
2024-11-07
爱交易的小子
Hong Kong
I saw an activity on their website offering 100% bonus on deposits, with no indication that the promotion was unavailable in China. After depositing, I was informed that the region of China could not participate in this promotion. I then placed two trades and proceeded to withdraw funds. There was no notification about a withdrawal fee being charged. I withdrew $500 but only received $486 in my account, which felt deceptive. The manager stated that a fee is charged for all cryptocurrency transactions, but those of us who use USDT know that the fee should only be $1. The manager also suggested that I make a larger deposit and he would communicate with his superior to refund my transaction fees.
Exposure
2024-08-14
jantrading
Switzerland
Despite OnEquity's claim of "instant deposits and fast withdrawals with no hidden fees," my recent experience was anything but transparent. Their FAQ states, "We don't charge any additional fees for depositing or withdrawing funds," yet I was charged over 3% on a $10,000 withdrawal - more than $300 lost. This unexpected cost felt like a blatant contradiction of their advertised no-fee policy. When I contacted customer support, their explanation was vague, offering no meaningful resolution. The entire ordeal made me question their honesty, as it shows they may not practice the transparency they preach. If you value straightforward, reliable transactions, I suggest looking elsewhere.
Exposure
04-16