Introduction
Choosing the right broker is paramount for both novice and experienced traders. One such broker that has recently caught our attention is Equitiz.
While the platform boasts a range of trading assets and account types, there are certain aspects that potential traders should be aware of.
This review aims to provide an in-depth look at Equitiz, highlighting both its offerings and the concerns surrounding its operations.
Equitiz Details
Equitiz, an online trading broker, is purportedly based at Bahnhofstrasse 52, 8001 Zürich, Switzerland and identifies as being owned by Equitiz, though they don’t specify the company’s legal structure.
For inquiries, you can reach Equitiz’s support team by phone at numbers +16472541497, +442081575523, +34930301829, +48573503411, or via email at support@equitiz.co.
Their online presence is marked by websites: equitiz.com and equitiz.co.
It’s imperative to proceed with caution and undertake thorough research before committing to any online trading platform, Equitiz included.
To help you make an educated decision, consider checking out our in-depth reviews of two other companies we have recently examined: SpringFX and PremiumCapitals.
Company Background and Legitimacy
Anonymous Operations
While Equitiz advertises itself as a trustworthy broker, there are certain red flags that one must not overlook.
The first among these is the lack of transparency regarding the company’s legal framework.
Equitiz offers just a brand name, without revealing its legal form, this lack of transparency raises concerns as it allows the company to remain anonymous, making it difficult for traders to ascertain the legitimacy of the platform.
Regulatory Concerns
Equitiz claims to operate out of Switzerland, a country known for its stringent financial regulations. For any company to provide financial services in Switzerland, it must hold a license issued by the Swiss Financial Market Supervisory Authority (FINMA).
Unfortunately, Equitiz does not possess such a license. To add to the concerns, FINMA itself has issued a warning against Equitiz.
This warning is not an isolated incident, as other regulators such as the Comisión Nacional del Mercado de Valores (CNMV) in Spain and the Financial Conduct Authority (FCA) in the United Kingdom have also raised red flags against the broker.
Importance of Choosing a Regulated Broker
Trading with a regulated broker ensures that traders are protected by a set of guidelines and standards set by financial authorities.
These regulations are in place to protect traders from potential fraud and ensure that brokers operate with transparency and integrity.
On the other hand, unregulated brokers, like Equitiz, pose significant risks.
Without regulatory oversight, there’s no guarantee of the safety of traders’ funds, and there’s a higher likelihood of encountering issues like price manipulation, hidden fees, and even outright scams.
Domain Name Change
Another point of contention is Equitiz’s decision to change its domain name from Equitiz.com to Equitiz.co.
Such a move, especially after regulatory warnings, can be seen as an attempt to evade scrutiny and continue operations without addressing the concerns raised against them.
Customer Feedback and Offerings
Reputation on TrustPilot
It’s always advisable to check a company’s reputation before making any commitments.
A quick look at Equitiz’s reviews on TrustPilot reveals a plethora of negative feedback.
Many customers have claimed to be scammed by the company, with some citing issues related to withdrawals and account management.
While there are always mixed reviews for any service, the overwhelming negative sentiment is a cause for concern.
Trading Assets and Account Types
On a positive note, Equitiz does offer a diverse range of assets for trading, including:
- Forex
- Commodities
- Stocks
- Cryptocurrencies
Furthermore, the platform provides five types of accounts to cater to different trading needs:
- Basic: Minimum deposit $250 with leverage up to 1:10
- Silver: Minimum deposit $5,000 with leverage up to 1:25
- Gold: Minimum deposit $15,000 with leverage up to 1:25
- Platinum: Minimum deposit $100,000 with leverage up to 1:50
- VIP: Minimum deposit $250,000 with leverage up to 1:50
Conclusion
While Equitiz offers a variety of trading assets and account types, the concerns surrounding its legitimacy and operations cannot be ignored.
The lack of transparency, regulatory warnings, and overwhelmingly negative customer feedback are significant red flags.
Traders should exercise caution and conduct thorough research before committing to any platform, especially when dealing with unregulated brokers.
Got Scammed by Equitiz?
If you have lost money with Equitiz, stay calm. It has likely happened to many others, and it its important to learn from these experiences. Do not forget that even the most cautious investors can fall victim to online fraud.
The good news is that there is help available. The team at MyChargeBack – a specialist group dedicated to helping consumers recover funds lost online – can help you.
5 Simple Steps To Get A Chargeback From Equitiz
Follow our straightforward guide to efficiently reclaim your lost funds from Equitiz with minimal hassle.
- Complete the Form: Begin by completing the form above, providing necessary details about your case. This allows the team to understand your situation with Equitiz and prepare for the consultation.
- Get A Free Consultation: Schedule a free consultation with MyChargeBack team of experts. During this consultation, they will assess your case and offer guidance on the best course of action to recover your lost funds from Equitiz.
- In-Depth Case Analysis: As you proceed with MyChargeBack, their expert team conducts an in-depth analysis of your case, identifying the optimal chargeback strategy for fund recovery based on your unique circumstances.
- Recovery Process: Their team of specialists scrutinizes your case, collects evidence, and negotiates with the involved parties to expedite the recovery of your funds. MyChargeBack team will consistently communicate with you and your bank or card issuer during the chargeback process.
- Fee Payment: Upon successful recovery of your funds lost to Equitiz, MyChargeBack charges a fee as a percentage of the reclaimed amount. If fund recovery is unsuccessful, no fees apply, except in exceptionally complex cases.
Through these five straightforward steps, MyChargeBack simplifies the fund recovery process, enabling you to reclaim your money from Equitiz with minimal inconvenience.
FAQs
Is Equitiz a regulated broker?
No, Equitiz is not regulated by any known financial authority, and several regulators have issued warnings against the platform.
Why did Equitiz change its domain name?
While the exact reason is not clear, the change came after regulatory warnings, suggesting an attempt to evade scrutiny.
What assets can I trade on Equitiz?
Equitiz offers Forex, Commodities, Stocks, and Cryptocurrencies for trading.
Are there any concerns regarding Equitiz’s operations?
Yes, there are concerns regarding the platform’s legitimacy, lack of transparency, and negative customer feedback.
How many types of accounts does Equitiz offer?
Equitiz offers five types of accounts: Basic, Silver, Gold, Platinum, and VIP.