Equalpros Review – Pretending To Be A Licensed Broker
So if you are thinking about trading with the Equalpros broker, you will definitely reconsider it after reading the following Equalpros review. As soon as we accessed the Equalpros website — which is very unconvincing and poorly designed —we realized that this broker doesn’t stand a ghost of a chance of providing anything worthwhile. There is nowhere near enough information to encourage traders to invest here.
Aside from displaying its fake London address, this broker misleads people by lying about being an FCA-accredited company. Being such an obvious liar is a clear sign that you can’t trust it and that nothing can prevent it from being involved in fraudulent trading activities.
|Broker status:||Unregulated Broker|
|Regulated by:||Unlicensed Scam Brokerage|
|Blacklisted as a Scam by:||N/A|
|Supported Platforms:||Web Trader, Mobile app|
|Cryptocurrencies:||Yes, Bitcoin, Ripple, Tether|
|Types of Assets:||Forex, shares, commodities, crypto, indices|
|Free Demo Account:||No|
|Accepts US clients:||No|
Does Equalpros Have a Forex License?
As an allegedly UK-based broker, Equalpros should be found in the registers of the UK Companies House. However, such a name doesn’t exist among registered businesses, which implies that Equalpros is an anonymous entity. This modus operandi is applied by fraudsters only.
Suppose that Equalpros is formed in the UK. In that case, it should be authorized by the British financial market regulator (FCA) to provide services legally in the UK. In fact, this shady brokerage firm claims that it is licensed under FCA, which is another baseless statement.
Is Equalpros Actually Regulated by the FCA?
Checking the FCA database about Equalpros is again a dead end — there is no information on this broker. Besides, FCA is among the best financial supervisory authorities, and its licensing requirements are demanding. For instance, all brokers must maintain a minimum operating capital of 1M GBP to become eligible for the license. In addition, FCA indemnifies traders with up to 85,000 GBP in the event of a broker’s bankruptcy. Finally, there is no way that such a fraudulent broker can hold a prestigious FCA trading credential.
Why Is Trading On a Licensed Broker’s Platform Preferable?
As we have already introduced, FCA-approved brokerage firms are financially stable and their traders are covered by the FCA compensation scheme. The same applies to legitimate brokers regulated by other top-notch financial market regulators such as Australian ASIC and Germany BaFin.
Other than this, certified brokers provide a great deal of funds protection. Adhering to strict rules of conduct, legit companies mitigate trading risks by assigning risk management measures such as negative balance protection and segregation of funds.
Is Equalpros a Legit Broker or a Scam?
Equalpros is not only an illegal and anonymous broker but a fraudster that lies about being a licensed forex provider. It represents a huge risk to traders due to its criminal behavior and poor services. Thus, stay away from Equalpros.
What Trading Software Does Equalpros Offer?
When it comes to the Equalpros trading software, it is as effective as this bogus brokerage firm. It offers a subpar web trader that comes with limited features. Thus, it fails to ensure safe and successful trading. You can’t use advanced tools like copy trading, fast execution, stop loss, unlimited pending orders, and algorithmic trading. For that, you need forex brokers utilizing cutting-edge technology, i.e., MetaTrader 4, MetaTrader 5, cTrader, and Sirix.
Speaking of the Equalpros mobile trading app, it can’t even be downloaded. This phony broker falsely promises this option just to entice people into trading. Unlike Equalpros, leading brokerage services provide proprietary mobile trading applications for Android and iPhone users, enabling trading on the go. In addition, you should always download mobile apps only from Google Play and Apple Store.
AnyDesk and TeamViewer
While on the subject of security, this fraudster jeopardizes your safety and privacy by encouraging you to download AnyDesk and TeamViewer. These two software programs are not related to trading. They are not even trading platforms. The only purpose of offering them is to gain access to your desktop computers and steal your data like credit card details. So keep in mind that AnyDesk and TeamViewer are remote control programs used in social engineering.
Equalpros Accounts Overview
Apropos of types of trading accounts at Equalpros, there is no information about this. In contrast, valid brokers offer multiple accounts including a demo account that allows traders to practice real-life trading for free and without risks. But a demo account option is not available with scam brokers since they can’t earn on deposits and also it exposes their poor services.
Also, with genuine companies, you have several live trading accounts, and deposits start from 10 USD. On the other hand, broker scams like Equalpros require several times higher deposits. Generally speaking, don’t pay attention to this broker’s offer since any dealings with Equalpros will end up bad for you in a financial sense.
Equalpros Range of Trading Markets
With reference to trading instruments, Equalpros allegedly provides access to global markets and the following products.
- Forex: EUR/USD, GBP/AUD, USD/CAD
- Shares: Apple, Google, Amazon
- Commodities: gold, silver, crude oil
- Crypto: Bitcoin, Ethereum, Litecoin
- Indices: UK100, DAX30, S&P500.
Even if this is possible, it still doesn’t change the fact that this company is an outright scam. If you want to trade on global markets safely and successfully, you should opt for licensed and reputable forex brokers.
Also remember the names of the Capital Markets Strategy Ltd, CoinmasFX and 44Trades trading scams and avoid them at all costs! Moreover, always check the background of online trading companies before investing!
Leverage, Minimum Deposit, and Fees
Concerning leverage, Equalpros hasn’t revealed its maximum leverage ratio. You should know that leverage is a great instrument for gaining profits. The higher the leverage ratio, the higher the earnings. For instance, 1:100 leverage means that on every dollar invested, you get a 100-dollar income.
However, you should be cautious about this since leverage is also risky, and you can easily lose money. For this reason, many jurisdictions limit leverage. If it were a real UK-based broker, Equalpros would have 1:30 leverage. Anyway, we are sure that this financial swindler offers a much higher leverage ratio to lure you into trading.
As for a deposit, it is unknown what a minimum required deposit is at Equalpros. This dirty trick is used by fraudsters so that they can charge you for deposits as they pleased. Additionally, this company is not transparent about trading costs. But considering its illicit nature and despite the fact that it guarantees low-cost trading, it probably levies hefty fees.
What Is Known About Equalpros’s Trading Conditions?
Regarding Equalpros trading conditions, this dishonest scam broker gives a fake warrant of keeping your funds separate from its capital (segregated accounts). In reality, this con artist can’t wait to get hold of your money. Likewise, Equalpros makes an empty promise of taking care of traders by preventing them from losing more than deposited (negative balance protection). Actually, it doesn’t want to limit your losses — remember, it wants to rip you off.
As for spreads at Equalpros — it is the same as for leverage, deposits, and trading costs — they are unknown. Anyway, bear in mind that the trading environment is unfavorable with scam brokers manipulating terms of exchange to draw your attention.
In addition, Equalpros doesn’t reveal the accepted means of payment. Anyway, we are sure that it only supports crypto payments since they are anonymous and hard to reverse. More on this matter in the following heading.
Scammed by Equalpros Broker? – Let Us Hear Your Story
If you are attracted by Equalpros’ early bonuses, its visa card that guarantees 8% back, or its promise of 14% interest earnings and invested your money here, you are scammed. However, there is still a chance to get your money back. But first, you should report it to the relevant authorities. Also, don’t forget to leave negative Equalpros reviews and warm others.
But What Is A Chargeback?
As said, getting money back is possible with a credit card and bank transfers. Visa and MasterCard offer cashback within 540 days while bank transactions can be terminated until they are confirmed. But when it comes to crypto wallets, it is more challenging for a chargeback. That is why fraudsters frequently use cryptocurrencies. Nevertheless, with the help of cyber security experts, even crypto payments can be reversed. So, for this reason, get in touch with our chargeback specialists.
What Is Equalpros?
It is an unregulated and unlicensed brokerage firm that fraudulently claims to be authorized by FCA.
Is Equalpros a Scam Broker?
Yes, it is, it operates illegally and anonymously and counterfeits the FCA license.
Is Equalpros Available in the United States or the UK?
It is not available in the US but is in the UK. But it is not permitted to provide services anywhere.
Does Equalpros Offer a Demo Account?
No, it doesn’t. That is so typical of trading scams.