Equitick Forex Broker provides real users with * positive reviews, 1 neutral reviews and * exposure review!
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Not a bad broker. However, withdrawals are relatively slow when compared with other brokers. We're in the 21st century and I think technology has advanced, Withdrawals can be almost instant.
Equitick, a forex broker operating primarily from Saint Vincent and the Grenadines, has garnered attention for its various trading services. However, the overall sentiment regarding this broker is decidedly negative, primarily due to its lack of regulation and high minimum deposit requirements. Users have expressed concerns about the platform's reliability, with many experts advising caution when considering Equitick for trading activities.
Note: It's essential to recognize that Equitick operates under different entities across regions, which can significantly impact user experiences and regulatory compliance. This review aims to provide a fair and accurate assessment based on available data.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 3 |
| Tools and Resources | 4 |
| Customer Service and Support | 5 |
| Trading Setup (or Trading Experience) | 4 |
| Trustworthiness | 2 |
| User Experience | 3 |
How We Rate Brokers: Our ratings are based on a combination of user feedback, expert analysis, and factual data regarding broker services.
Founded in 2016, Equitick Financials is headquartered in Beirut, Lebanon, with additional operations in Saint Vincent and the Grenadines. The broker offers a proprietary trading platform known as Bursa+, which is accessible via mobile devices. Equitick supports a range of trading instruments, including forex and CFDs, but lacks the more widely recognized platforms such as MetaTrader 4 or 5. Notably, Equitick is unregulated, raising significant red flags for potential investors.
Regulatory Regions/Areas: Equitick operates without any regulatory oversight, which is a significant concern for many traders. The absence of regulation means that there are no governing bodies ensuring the broker adheres to financial standards, increasing the risk for investors.
Deposit/Withdrawal Currencies/Cryptocurrencies: The broker requires a high minimum deposit of $1,500, which may deter smaller traders. The exact deposit and withdrawal methods were not specified, and there is limited information regarding the currencies accepted for trading.
Minimum Deposit: The minimum deposit requirement of $1,500 is notably high compared to many other brokers, which often have lower thresholds. This high barrier to entry may limit accessibility for new traders.
Bonuses/Promotions: There is no mention of any bonuses or promotional offers currently available through Equitick, which could be a disadvantage for attracting new clients.
Tradable Asset Categories: Equitick provides access to various financial instruments, including forex pairs, CFDs, commodities, and indices. However, specific details regarding the range of assets available for trading were not extensively covered in the sources.
Costs (Spreads, Fees, Commissions): The costs associated with trading on Equitick remain unclear, with no specific information on spread rates or commission structures provided in the reviewed sources. This lack of transparency is concerning for potential traders.
Leverage: The sources did not specify the leverage options available through Equitick, which is an important factor for many traders when selecting a broker.
Allowed Trading Platforms: Equitick utilizes its proprietary platform, Bursa+, and does not support popular platforms like MT4 or MT5, which may limit trading options for experienced traders accustomed to these widely used systems.
Restricted Regions: There is no detailed information on the specific regions where Equitick is restricted, but the lack of regulation suggests that it may not be suitable for traders in heavily regulated markets.
Available Customer Service Languages: The customer service options include English, with contact methods available via email and phone. However, the effectiveness of customer support remains uncertain, as user experiences vary.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 3 |
| Tools and Resources | 4 |
| Customer Service and Support | 5 |
| Trading Setup (or Trading Experience) | 4 |
| Trustworthiness | 2 |
| User Experience | 3 |
Account Conditions: The high minimum deposit requirement of $1,500 is a significant drawback for many potential traders. This requirement effectively excludes those who may want to start trading with smaller amounts.
Tools and Resources: While Equitick offers a mobile trading app, the lack of support for industry-standard platforms like MT4 or MT5 limits the tools available to traders. This could deter experienced traders looking for advanced trading features.
Customer Service and Support: Customer service options are available, but the lack of regulatory oversight raises concerns about the reliability and responsiveness of support. Users have reported mixed experiences, highlighting the need for improvement in this area.
Trading Setup (or Trading Experience): The proprietary Bursa+ platform may not meet the expectations of all traders, particularly those who prefer the familiarity of established platforms. This could impact the overall trading experience negatively.
Trustworthiness: The absence of regulation is a significant red flag, and many experts recommend avoiding Equitick due to potential risks associated with unregulated brokers. The low trust score from various review platforms underscores these concerns.
User Experience: User experiences have been largely negative, with reports of high minimum deposits and concerns about the platform's reliability. Without regulatory oversight, many traders may feel uncomfortable investing their funds with Equitick.
In conclusion, while Equitick may offer some appealing features, the lack of regulation and high minimum deposit requirements present significant risks. Potential traders are advised to conduct thorough research and consider alternative, regulated brokers before proceeding with Equitick.
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