If you’re contemplating trading with Equalpros broker, your decision might take a different turn after you read this comprehensive Equalpros review. Upon our initial visit to the Equalpros website, which exhibits an unconvincing and poorly designed interface, it became apparent that this broker falls far short of providing anything of value. The lack of essential information discourages potential traders from considering investments here.

In addition to prominently featuring a fictitious London address, this broker further misleads individuals by falsely claiming to be accredited by the FCA. Such blatant deception serves as a clear warning sign, eroding trust and raising concerns about potential involvement in fraudulent trading activities.

• Broker status: Unregulated Broker
• Regulated by: Unlicensed Scam Brokerage
• Scammers Websites: Equalpros.com
• Blacklisted as a Scam by: N/A
• Owned by: N/A
• Headquarters Country: UK
• Foundation year: 2022
• Supported Platforms: Web Trader, Mobile app
• Minimum Deposit: N/A
• Cryptocurrencies: Yes, Bitcoin, Ripple, Tether
• Types of Assets: Forex, shares, commodities, crypto, indices
• Maximum Leverage: N/A
• Free Demo Account: No
• Accepts US clients: No

License and Security

As a purportedly UK-based broker, Equalpros ought to be listed in the UK Companies House registry. Surprisingly, there is no record of such a business entity among the registered companies, suggesting that Equalpros operates with anonymity—a common tactic employed by fraudsters.

If Equalpros were truly established in the UK, it would be imperative for the company to secure authorization from the British financial market regulator, the FCA, to legally offer its services within the country. However, this dubious brokerage firm boldly asserts that it possesses an FCA license, a claim that lacks any substantiated basis.

Is Equalpros Actually Regulated by the FCA?

Searching the FCA database for information on Equalpros once more leads to a dead end, as there is no trace of this broker within their records. It’s worth noting that the FCA is widely recognized as one of the most reputable financial supervisory authorities, renowned for its stringent licensing requirements. For instance, brokers are mandated to maintain a minimum operating capital of 1 million GBP to even be considered eligible for a license. Moreover, the FCA provides traders with a safeguard of up to 85,000 GBP in case a broker faces bankruptcy. Given these rigorous standards and safeguards, it is highly implausible for a fraudulent broker to hold the esteemed FCA trading accreditation.

As previously mentioned, brokerage firms approved by the FCA are known for their financial stability, and their traders benefit from the FCA compensation scheme. The same level of security extends to reputable brokers regulated by other prestigious financial market authorities like the Australian ASIC and Germany’s BaFin.

In addition to these safeguards, certified brokers offer substantial fund protection. By adhering to stringent codes of conduct, legitimate companies proactively mitigate trading risks through the implementation of risk management measures, including features like negative balance protection and the segregation of funds.

Equalpros is not just an unlawful and obscure broker; it is, in fact, a fraudulent entity that deceitfully claims to hold a valid forex license. Its criminal activities and subpar services pose significant risks to traders. Therefore, it is strongly advised to steer clear of Equalpros.

Trading Software

Regarding the trading software provided by Equalpros, it mirrors the inadequacies of this deceptive brokerage firm. Their offering includes a lackluster web trader with limited features, which falls short of providing a secure and efficient trading experience. Advanced tools such as copy trading, rapid execution, stop loss functionality, unrestricted pending orders, and algorithmic trading are conspicuously absent. To access these advanced features, it is advisable to opt for forex brokers that leverage cutting-edge technology, such as MetaTrader 4, MetaTrader 5, cTrader, or Sirix.

Mobile App

The Equalpros mobile trading app, for example, cannot even be downloaded. This bogus broker falsely claims this option in order to encourage consumers to trade. Unlike Equalpros, top brokerage firms provide proprietary mobile trading apps for Android and iPhone customers, allowing for on-the-go trading. Furthermore, you should only download mobile apps from Google Play and Apple Store. 

TeamViewer and AnyDesk

While we’re on the subject of security, this scammer puts your safety and privacy at risk by pushing you to download AnyDesk and TeamViewer. These two software products have nothing to do with trading. They are also not trading platforms. The only reason for providing them is to obtain access to your desktop PCs and steal personal data, such as credit card information. 

Accounts Overview

When it comes to the types of trading accounts offered by Equalpros, there is a conspicuous absence of information on this matter. In stark contrast, reputable brokers typically provide a range of account options, including a demo account that enables traders to practice real-life trading without incurring any costs or risks. However, scam brokers do not offer demo accounts, as they cannot generate revenue from deposits, and it would also reveal the inadequacies of their services.

Furthermore, legitimate companies typically offer multiple live trading account options, often with low minimum deposits starting from as little as 10 USD. In contrast, fraudulent brokers like Equalpros often demand significantly higher deposits. In general, it is advisable to disregard the offerings from Equalpros, as any involvement with this broker is likely to result in unfavorable financial outcomes.

Range of Trading Markets

Equalpros claims to offer access to a range of trading instruments across global markets, which purportedly include the following products:

• Forex: EUR/USD, GBP/AUD, USD/CAD
• Shares: Apple, Google, Amazon
• Commodities: Gold, Silver, Crude Oil
• Cryptocurrencies: Bitcoin, Ethereum, Litecoin
• Indices: UK100, DAX30, S&P500

However, it’s crucial to emphasize that even if these offerings were genuine, it doesn’t alter the fact that this company is a clear-cut scam. To engage in safe and successful trading across global markets, it is highly advisable to select licensed and reputable forex brokers.

Leverage, Minimum Deposit, and Fees

Equalpros hasn’t disclosed its maximum leverage ratio, but remember that higher leverage can amplify profits and losses. For safety, many jurisdictions impose a 1:30 leverage limit for UK-based brokers. Be cautious; Equalpros may offer much higher leverage to entice you.

Furthermore, the minimum deposit and trading costs at Equalpros remain undisclosed, a common tactic used by fraudsters to charge hidden fees. Given its illicit nature, expect potentially substantial fees despite promises of low-cost trading. 

Trading Conditions

When it comes to Equalpros’ trading conditions, this deceitful broker falsely claims to keep your funds separate (segregated accounts) and offers empty assurances of preventing you from losing more than your deposit (negative balance protection). In reality, their intent is to seize your funds, not protect them.

Details on spreads, leverage, deposits, and trading costs at Equalpros remain undisclosed. However, be aware that scam brokers often manipulate these terms to their advantage, creating an unfavorable trading environment.

Furthermore, Equalpros does not disclose accepted payment methods, but it is highly likely they only support cryptocurrency payments due to their anonymity and difficulty in reversing transactions. More on this topic in the following section.

Conclusion on Equalpros 

In conclusion, Equalpros presents itself as a fraudulent broker with a plethora of red flags. It lacks transparency in crucial aspects such as licensing, trading conditions, and payment methods. The absence of verifiable information on its regulatory status, trading terms, and accepted payments raises serious concerns about its legitimacy.

Equalpros makes dubious claims about account segregation and negative balance protection, which are often used by scam brokers to deceive traders. Additionally, its undisclosed leverage, spreads, and trading costs, coupled with the likelihood of hidden fees, further erode trust.

Given these significant warning signs and the lack of credibility, it is strongly advisable to avoid any involvement with Equalpros. Opting for licensed and reputable forex brokers with transparent practices is a safer and wiser choice for traders looking to engage in the financial markets.