Caution Investors Equitiz – Regarding fraudulent or manipulative practices (insider dealing, market manipulation, misrepresentation of material information, etc.)
Overview:
Equitiz UK is a trading name of Equitiz Group Ltd, a company registered in St. Vincent and the Grenadines, a notorious offshore jurisdiction for shady brokers. The website of Equitiz UK does not provide any information about its license, regulation, or legal status. However, the broker has been blacklisted by the Swiss Financial Market Supervisory Authority (FINMA), the Spanish National Securities Market Commission (CNMV), and the UK Financial Conduct Authority (FCA) for operating without authorization and targeting investors in their jurisdictions.
Regulation and Compliance:
Regulation is one of the most important factors to consider when choosing a broker. A regulated broker must comply with strict rules and standards that ensure the protection of investors’ funds, data, and rights. A regulated broker also offers access to compensation schemes and dispute resolution mechanisms in case of any issues or complaints. Equitiz UK, on the other hand, is not regulated by any reputable authority and does not adhere to any regulatory framework. This means that the broker can operate in an untransparent and unethical manner, without any oversight or accountability. Investors who trade with Equitiz UK have no guarantee of the safety or security of their money or personal information.
Customer Reviews:
Another way to assess the credibility and reputation of a broker is to look at customer reviews and feedback. A quick online search reveals that Equitiz UK has a very poor rating on various review platforms, such as Trustpilot and Forex Peace Army. The majority of the reviews are negative, with customers complaining about issues such as withdrawal problems, hidden fees, aggressive marketing tactics, poor customer service, and even account manipulation. Many customers also claim that Equitiz UK is a scam and warn others to stay away from it.
Products and Services:
Equitiz UK claims to offer trading on various instruments, such as forex, indices, commodities, stocks, and cryptocurrencies. The broker also claims to provide a web-based trading platform, as well as educational resources and market analysis. However, these claims are not verified or supported by any evidence. The broker does not disclose any details about its trading conditions, such as spreads, commissions, leverage, margin requirements, or execution policies. The broker also does not offer any demo accounts or free trials for potential customers to test its services. Moreover, the broker’s website is poorly designed and contains many grammatical errors and inconsistencies.
Location:
Equitiz UK states that its address is Suite 305 Griffith Corporate Centre Beachmont Kingstown St Vincent And The Grenadines. However, this address is not reliable or trustworthy, as it is a common location for many fraudulent brokers who register their companies in offshore zones to avoid regulation and taxation. Furthermore, the broker does not provide any phone number or email address for contact purposes. The only way to communicate with the broker is through a live chat feature on its website, which is often unavailable or unresponsive.
Customer Service:
Customer service is another crucial aspect of a broker’s performance and reliability. A good broker should provide prompt, professional, and courteous support to its customers through various channels and languages. Equitiz UK fails to meet this criterion, as it does not offer any reliable or effective customer service. As mentioned above, the broker does not provide any phone number or email address for contact purposes. The only way to communicate with the broker is through a live chat feature on its website, which is often unavailable or unresponsive. Moreover, many customers report that the broker’s representatives are rude, unhelpful, and even abusive.
Is Your Money Safe in an unregulated company?
The answer to this question is a resounding no. Trading with an unregulated company like Equitiz UK exposes you to a high risk of losing your money due to fraud, theft, or mismanagement. An unregulated company can manipulate your trades, deny your withdrawal requests, charge you hidden fees, or even disappear with your funds without any notice or recourse. You also have no access to any compensation schemes or dispute resolution mechanisms in case of any issues or complaints.
Defensive Measures Against Fraudulent Brokers:
If you want to avoid falling victim to fraudulent brokers like Equitiz UK, you should follow some basic steps and precautions:
– Do your research before choosing a broker. Check the broker’s license, regulation, reputation, customer reviews, and trading conditions.
– Avoid brokers that are registered in offshore zones or have been blacklisted by financial authorities.
– Beware of brokers that offer unrealistic or too-good-to-be-true offers, such as high returns, low spreads, bonuses, or guarantees.
– Test the broker’s services with a demo account or a small deposit before investing a large amount of money.
– Keep your personal and financial information secure and do not share it with anyone.
– Monitor your trading account regularly and report any suspicious or unauthorized activity.
– Withdraw your profits regularly and do not leave your money idle in your account.
– If you encounter any problems or issues with your broker, contact the broker’s customer service and try to resolve them amicably. If that fails, contact the regulator or the ombudsman of the jurisdiction where the broker is licensed. If the broker is unregulated, you may have to resort to legal action or seek help from law enforcement agencies.
Conclusion:
Equitiz UK is an unregulated and blacklisted online broker that poses a high risk to investors. The broker has been warned by the financial authorities of Switzerland, Spain, and the UK for operating without authorization and targeting investors in their jurisdictions. The broker also has a very poor reputation among customers, who complain about various issues and problems with its services. Trading with Equitiz UK exposes you to a high risk of losing your money due to fraud, theft, or mismanagement. You should avoid dealing with this broker and beware of potential scams.
