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Equaledge Review | Your trading journey or a Scam?

by Kevin Berry
Rating: 
  2.1/5   Reviews: 4
Equaledge - logo

Another offshore broker from Saint Vincent and the Grenadines, Equaledge, offers to ignite your trading journey, providing access to a cutting-edge platform. The company vaguely praises itself and talks about favorable conditions, top-notch security, and risk mitigation. However, the number of online reviews indicates that this is an unpopular firm, and the duration of operation, licenses, and business model are not specified at all. Could it be a scam? Or is it still a reliable and comfortable platform? We have to figure this out.

Highlights

🏛️ Country St. Vincent and the Grenadines
⚠️ Regulation
🖥️ Website https://www.equaledge.co/
🎲 Demo Account No
⏳ Start Time 2023
💲 Minimum Deposit $5,000
⚖️ Minimum and Maximum Leverage 1:500
⚙️ Trading Platform WebTrader
📨 E-mail support@equaledge.co
📞 Phone +442030971450

First Impression of Equaledge.co

At the top of the site, there are standard sections with contacts and main documents, such as the user agreement, AML & KYC policy, and others, as well as information about the platform, tariff plans, and company activities. On the main page, you can get acquainted with the advantages and opportunities, and at the footer, there is a usual warning about risks. The Equaledge website is not translated into other languages; there is only English. On the right, you can see social media icons.

Equaledge - site

In general, nothing unique or interesting. The design and layout are ordinary and tasteless. We are facing more of a template site than some unique resource. Equaledge did not bother to make a quality website, but used an already-ready option, substituting their data in the text. It is also worth noting the opacity, which is manifested in the absence of important information, such as the duration of operation, licenses, business model, and others.

Partnership and Bonuses

Equaledge does not mention anything about its affiliate program or bonuses on its official website, leaving this behind a veil of mystery. Going ahead, you can find out about the presence of an affiliate program at the moment of account registration, as there is a field named “promo code”. However, it is impossible to learn anything about the bonuses. Perhaps, company representatives offer bonus promotions to existing clients.

Account Opening on Equaledge.co

Account creation starts with providing minimal personal information, including contact details. It is also necessary to choose an account currency between EUR, GBP, or USD.

Registration

The promo code field is not marked with an asterisk, which means that filling it out is not mandatory. However, the system does not let us proceed further because it requires entering a promo code. When trying to indicate random numbers, an error appears: “This promo code is not available”.

It turns out that registering with Equaledge without an invitation is not possible. Where can one get this magical key that will open the door inside? It is also noteworthy that no demo account is offered. It is not possible to try trading with virtual money.

Verification

Equaledge requires all clients to go through the KYC process. It involves not only providing full name, date of birth, and address of residence, but also uploading documents that confirm this data. Documents need to be sent to the technical support email. The entire procedure is described in the corresponding section, including the file format, the necessity of KYC, and so on.

Pros
  • There is a section describing the entire verification process.
Cons
  • Requires a lot of data.

Trading Software

Since it is impossible to create an account without an invitation, we cannot test the trading terminal in practice. We are left with no choice but to believe what the broker tells us about its platform, although this is quite a silly idea since anything can be written. Moreover, we have long known that companies often exaggerate the capabilities and features of their terminals. Equaledge is clearly no exception.

Terminal

The platform is presented in three versions: webtrader, desktop, and mobile trader. It is worth noting that the mobile version is merely adapted for mobile browsers. It is not a full-fledged application that can be downloaded from the AppStore/Play Market. Such a solution is unlikely to be convenient for traders who prefer to trade from smartphones. We did not dare to download and install the program on the computer. Some .msi files may pose a potential threat in the form of a virus.

Equaledge describes its terminal as cutting-edge, user-friendly, and professional. There is technical analysis, real-time market prices, indicators, and pending orders available.

Features Equaledge OceanFX TradesWiser
Demo Account
Mobile App ✔️
Own Development ✔️

How Can I Trade With Equaledge?

Traders have access to instant execution, leverage from 1:100 to 1:500, and a wide variety of asset classes. The conditions depend on the type of account the client chooses.

All Info About Accounts

Equaledge offers 5 types of accounts. They differ minimally, but the required minimum deposit amounts to activate the tariffs are simply staggering. For example, the first type of account is only available from $5,000. Doesn’t that seem a bit much? If you look at more well-known firms, the minimum deposit there is no higher than $100. Why has this broker decided that it can demand such a huge amount while not even offering a demo account? And how funny does the phrase from the official website sound: “With a minimal deposit of €5,000, you can easily embark on your trading journey.” Sure, “easy to get started,” “only $5,000”.

Account types

The first two tariffs have a fixed spread, and thereafter the trader can connect to a floating type. As the account type increases, the maximum trade size increases, while the margin call and stop-out level parameters remain at the same values: 40% and 30% respectively. Equaledge also offers clients assistance from an account manager and 24/5 support.

What are the differences between the tariffs with such a gap in the minimum deposit? What’s the point of opening a “Pro” account and investing $100,000, if the same possibilities and conditions are available in “Gold” for $25,000? And who would agree to invest such serious sums in Equaledge, which is not popular and, more likely, operates without a license? A leverage of 1:100 to 1:500 directly hints at the absence of regulation. We also did not see an Islamic account or ECN. Does it mean we are looking at a dealing desk?

Pros
  • Not found.
Cons
  • $5,000 is a very high minimum deposit.
  • Demo account, Islamic account – not available.
  • Commissions and spreads are not specified.

Market Analysis and Education With Equaledge.co

There are no additional services such as analytics or educational courses available. There is only basic information about the traded asset classes. Equaledge could have provided an economic calendar, financial news, or some educational resources, but they did not.

Deposit, Withdrawal, and Fees

According to the official website, the company accepts credit/debit cards, bank wire transfers, and Bitcoin. At the same time, there are withdrawal fees only for bank transfers, not exceeding 75 euros. The processing time for withdrawal requests varies between either 1 business day or 15. Equaledge seems to be unable to decide how much time it takes to process a request, indicating different periods.

Features Equaledge Graystone Venture Capital  Nexon Groups
Debit/Credit Cards ✔️ ✔️ ✔️
Electronic Payments
Crypto Transfers ✔️
Deposit Fee
Withdrawal Fee ✔️

How Can I Contact It?

For contacting the managers, there is a phone number (British) and an email address. Equaledge has also created accounts on social media platforms Instagram, Facebook, and Twitter, but there are few followers there. You could try contacting representatives through social media. However, an online chat is missing for quick communication with the staff.

Pros
  • There are social media accounts, email, and a phone number.
Cons
  • Online chat for prompt communication is absent.

Is Equaledge Dangerous?

The broker’s secrecy appears highly suspicious. They do not share any information about their trading conditions or their operations. It is important to understand that a combination of two factors – a high minimum deposit and the absence of a demo account – is a clear sign of a fraudulent firm. However, we still need to check how long Equaledge has been in operation and whether it has any licenses.

How Long Does The Broker Work?

There is no company’s foundation date on the website, which is a significant red flag in itself. Looking at the creation dates of their social media accounts, they were established in September-October 2023. The domain of the official website was registered on August 30th. Add to this the small number of reviews about Equaledge on the internet, and it seems that the real operating time is just a few months.

Domain

How Is Equaledge Regulated?

The platform belongs to the legal entity Fluxlogy LLC, registered in Saint Vincent and the Grenadines. Brokerage activity is not regulated in this jurisdiction, essentially, it is all that needs to be known regarding the firm’s legitimate status. Equaledge does not indicate offices or branches in other countries, so searching for licenses elsewhere makes no sense. However, just in case, we checked the existence of such an organization in SVGFSA, and it is indeed there. Fluxlogy LLC was registered in 2022.

Equaledge - SVGFSA

However, the current status of the organization is “Cancellation Pending”. So, when was the firm actually founded? In 2022 or 2023? We think it was in 2023 because the website appeared in 2023, meaning Equaledge could not have operated before its appearance.

Features Equaledge IC Markets Axi
European Zone ✔️ ✔️
Asian Zone ✔️
American Zone
African Zone
Offshore ✔️

Frequently Asked Questions (FAQ)

How to Trade With Equaledge?

To register, click “Register” on the official website and then fill out the form. However, creating an account without a promo code is impossible. It’s unknown where one can obtain an invitation.

Is Equaledge Legit?

The company is located in an offshore state where there is virtually no regulation of forex brokers. There are no representations in other jurisdictions. Thus, there is no license, which means that the activity is illegal.

How Risky Is It?

It is very dangerous to cooperate with brokers like Equaledge. These are risky firms that can easily deny you the withdrawal of funds. So the trading risk here is 100%.
Kevin Berry
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Expert Opinion

Does anyone still open brokerage accounts with brokers registered in the dirtiest and most disgraceful place called St. Vincent and the Grenadines? Probably, 99% of all brokerage companies registered there are scammers and fraudsters, fly-by-night firms created by anonymous criminals to steal money from trusting traders. Equaledge has not a single merit; it’s all about disadvantages here. Low level of security, unfavorable conditions, and impossibility to register. How does this scambroker even attract traders when you can’t register without a promo code?

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The level of trust
Quick withdrawal of funds
Efficiency of technical support
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The level of trust
Quick withdrawal of funds
Efficiency of technical support

4 reviews about Equaledge

Pusher Mane October 17, 2023 - 00:07
No guarantees, no security
The level of trust
Quick withdrawal of funds

There is no license and there never will be… it is an offshore disgraceful cesspool, a typical fake broker, operating as a dealing desk… conflicts of interest, fake charts, manipulation – all this is present here… but guarantees and safety are absent…

Reply
HelloThere October 26, 2023 - 19:47
Yeah, they're scammers who don't withdraw money.
The level of trust
Quick withdrawal of funds

I can easily confirm that Equaledge is a fraud and fake organization, created by anonymous scammers who don’t even want to communicate. I invested 6k dollars here to trade, but all I got were terrible trading conditions, poor terminal performance, and complete disregard from the technical support and employees.
Equaledge blatantly robbed me of my money. They deceived and fooled me like I was some kind of idiot. The scam is very simple. The withdrawal of funds doesn’t work, and there is nothing you can do about it. It’s impossible to withdraw money. I deeply regret such a mistake. I should have checked the company, consulted with experienced traders. They would have told me that this is a fraud, not a normal and safe broker.

Reply
Security November 1, 2023 - 14:05
Don't even think about opening an account here
The level of trust
Quick withdrawal of funds
Efficiency of technical support

Do you need a safe and reliable broker? Then forget about the dirty, fraudulent platforms registered in St. Vincent and the Grenadines. Equaledge is among them, scamming traders out of their money. You might be able to transfer a deposit here, but withdrawing money will be impossible. I’ve been through this, had a sad experience, trusted a similar fraud firm once, and ended up losing $1000. And there’s nothing you can do; as soon as you confirm the transfer, it doesn’t matter whether through a bank or crypto, that’s it, it’s over, you’ve lost your money. Neither the police nor the courts will help you. So, don’t take risks and give your money to some fake platform. There’s no point.

Reply
jason November 14, 2023 - 15:58
no issues
The level of trust
Quick withdrawal of funds
Efficiency of technical support

I started with them and had no issues, I traded with high leverage and different strategies, and they were able to accommodate for now what I needed. took out some of the profits (not a lot but enough) without any issues. so for now, I cannot find myself in your assessment. if this changes will let you know , thanks

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