Equinox Markets Review – A Foul Scam Broker Lurking Online

What we have here is a controversial offshore scheme that’s been present for some time now. While this scammer may be ahead of its peers in some aspects, it’s still nowhere near a legitimate provider.

Therefore, we have to outline the dangers one may face. Read about this offshore hoax in the Equinox Markets Review.

Also, we recommend you not to invest in the fraudulent brokers Bitsterzio, Lamelle Financial and Stam Capital Invest.

Is Equinox Markets Scam or a Safe Broker?

Equinox Markets, run by Equinox Markets Limited from Saint Vincent and the Grenadines (SVG), is not a legitimate Forex provider at all. The notorious den of thieves known as SVG is the island of many scams.

SVG’s Financial Services Authority does not regulate the Forex market, meaning Equinox Markets is basically unlicensed. As for the fake UK address and NFA certificate, a few clicks were enough to debunk those claims.

Equinox Markets is an offshore provider from SVG and definitely not a UK-based broker. This is a fraud promising Forex, crypto and CFD trading to traders from the US, Switzerland, Canada and Vietnam.

Arguments For Trading With a Licensed Broker

To recap – Equinox Markets is not a UK or US broker since it isn’t registered with the respective authorities. That implies that the scammer operates under no jurisdiction other than its own.

Equinox isn’t obliged to have a considerable operating capital (730,000 GBP in the UK or 20,000,000 $ in the US). Also, clients aren’t guaranteed negative balance protection, segregated funds, a compensation scheme, transaction reporting and leverage restriction.

A Warning Against Equinox Markets

It seems that this vile offshore broker found its way to Asian traders. Malaysia, to be more specific. However, the Malaysian Securities Commission (SC) issued a warning against Equinox Markets on March 28, 2022. Let’s hope traders notice it in time.

Equinox Markets’ Trading Platform – Available Trade Software

According to Equinox Markets’ website, the shady broker offers two different platforms. We found that the platforms in question are cTrader and WebTrader.

As per various sources, we discovered that Equinox Markets used to offer Meta Trader 4 but suddenly switched to the two aforementioned platforms. Yet another indicator that this is a shady scam – why would someone stop offering MT4, one of the best software in the game?

cTrader 

cTrader is a high-speed, deep liquidity platform designed for day traders, scalpers, and algorithmic traders. The interface is easy to use and the charting, functionality and market depth aspects arguably surpass that of MT4.

Nevertheless, we highly doubt that an unlicensed offshore broker such as Equinox Markets offers a legit version of cTrader.

WebTrader

Equinox Markets also offers a browser-based platform known as WebTrader. This is more plausible. WebTrader is essentially a platform that lacks advanced tools and options.

It offers some basic charts and TA indicators. Beginners could find this convenient but even they ought to outgrow it quickly.

What Financial Instruments Does The Platform Include?

When it comes to trading instruments, Equinox Markets included the classic selection. Namely, clients have access to Forex pairs, crypto assets and CFDs on indices, stocks & commodities. It’s a pretty wide range of instruments. But, don’t forget that this broker is unlicensed.

• Forex pairs – EUR/USD, AUD/CHF, GBP/CAD…
• Indices – FR40, DAX30, IBEX35…
• Commodities – gold, natural gas, wheat…
• Stocks – Microsoft, Netflix, BMW…
• Cryptocurrencies – BTC, LTC, DSH…

Areas Of Equinox Markets’ Scam

If you’re wondering where this scammer looks for victims, you could use a list. We did the research and found out that Equinox Markets was active in the following countries:

• The US;
• Canada;
• Switzerland;
• Vietnam.

Per similarweb.com, Equinox Markets was busy in Vietnam in December 2022 with a total of 9,400 visits to the scammer’s website. Furthermore, since the Malaysian SC issued a warning against this con artist, we could add that country to the list too. 

Additionally, we strongly advise you to avoid the fraudulent brokers Invest Think, Fin Art Media, and EUFinance.

Equinox Markets’ List of Account Types

Equinox Markets offers three different account types, named after planets. Here’s a quick list of the types and minimum deposits required for each of them:

• Mercury – 1,000 $;
• Saturn – 10,000 $;
• Pluto – 25,000 $.

Spreads range from 2.5 pips to 0.75 pips depending on the type. Given that the industry’s standard is around 1.5 pips, the Mercury account is simply too expensive for such unfavorable conditions. Commissions weren’t disclosed.

As for the leverage, all accounts have the same cap – 1:500. Typical of offshore providers. Such high leverage is prohibited in all regulated countries such as the UK, US, EU states, etc. The limit for retail clients is 1:30-1:50 to prevent catastrophic losses.    

Equinox Markets’ Demo Trading Account

Yes. Clients can test things out using a free demo account. However, scammers sometimes allow this. It can only mean patience on their part. Don’t be deceived by the fake courtesy of Equinox Markets, the broker is still unlicensed to provide Forex services.

Promotional Types Equinox Markets Provides

Equinox Markets offers a variety of benefits in form of promotions. These include perks such as zero commissions, trading bonuses, a 20% extra profit, oil rallies, etc.

However, it’s all just a ruse to entice potential or existing clients and draw them further into the malevolent cyber scheme. The scammer uses all the means at its disposal.

Equinox Markets’ Deposit & Withdrawal Procedure

The minimum deposit for Equinox Markets is 1,000 $. Payment methods include the traditional option – credit/debit cards, as well as crypto assets and various Asian e-wallets. 

Credit/debit card deposits are subject to a 4% fee. The withdrawal processing time is allegedly from two to seven business days but we doubt there will be any withdrawals.

Equinox Markets Broker Scammed You? – Please Tell Us Your Story

That’s it for this review. We could use your help if you’ve been scammed so please lend us a hand in bringing down this terrible cyber scam.

Don’t worry, we won’t desert you without telling you about possible methods of getting a refund. Of course, we’re willing to go through the whole process with you so give us a call!

What Is the Chargeback Procedure?

• Credit/debit card transactions can be reversed via chargeback.
• A chargeback can be requested at the issuing bank within 540 days.
• Crypto transactions must first be traced to a wallet within an exchange before requesting a refund.
• If you’ve deposited via e-wallet, you’ll have to contact the wallet’s owner company.

If you need help with chargebacks, book a free consultation with our chargeback specialists who will help you to regain your money.