Equiti Review for UAE Traders in 2023

The trading fees you pay with Equiti will depend on your account type.

Premiere account - Spreads start from 0.2 pips for major forex pairs, plus commission rates charged at $70 per $1 million on forex pairs and $7 per standard lot on precious metals. All other instruments are commission free.

Executive account - Spreads for the Executive account are typically between 1.4 and 2 pips for the same pairs.

Traders should also be aware of swap-fees that are charged on trading positions held past 20:45 GMT. Traders can apply for a swap-free account after opening an account by contacting the Equiti client support team. However Equiti does charge expensive administration fees to offset this cost.

Equiti also charges a monthly inactivity fee after 180 days of inactivity.

Deposits

With Equiti, you can choose to fund your trading account via multiple various methods, including bank transfer, card payments, Neteller and Skrill. Deposits are fast, however the minimum initial deposit when trading with Equiti is $500 for a Premier Account. For professional accounts, this amount goes up to $20,000 which is significantly higher compared to the average.

Supporting eWallet deposits is a great addition, however traders in the UAE should note that Equiti demands a minimum amount of $50 to be transferred at any time.

Withdrawals

Withdrawals on Equiti are available via the same methods as deposits (card, bank transfer, Neteller, Skrill). Equiti does not charge any fees for card withdrawals, but withdrawals via eWallets may cost 1% per transaction.

Neteller and Skrill withdrawals are processed within one business day. Wire transfers can take 3-5 business days and payment cards between 5-14 days.

Equiti offers 2 different account types for UAE clients. One for beginner traders and one for advanced.

Executive Account

This account is best for beginner traders in the UAE. Key highlights of this account are as follows:

• Minimum deposit of $500
• Spreads from 1.6 pips on EUR/USD
• Commission-free trading
• Leverage of 1:500 on Forex, 1:200 on CFDs, and 1:20 on equities.
• Access to a demo account with real-time prices and spreads
• No additional trading fees

Premiere Account

This account is best for professional traders who have individual requirements. Key highlights of this account are as follows:

• Minimum deposit of $20,000
• Spreads from 0.0 pips
• Leverage of 1:500 on Forex, 1:200 on CFDs, and 1:20 on equities.
• Commissions of $70 per $1 million traded on Forex and $7 per 1 standard lot round turn on precious metals.

Equiti also offers swap-free accounts for those looking to trade without the associated interest fees known as ‘swaps’.

For those looking to test before they invest, Equiti also allows traders to open a demo account that doesn't use real funds. This option allows traders to test the waters before investing with real money.

Equiti has an Academy dedicated to educational tools, however it can’t be accessed directly from the Equiti homepage. It provides a variety of tools to aid beginner traders in becoming skilled and experienced. Equiti’s academy offers the following:

• Trading guides – i.e. “What Is Forex’, ‘How To Trade Forex’ etc.
• Webinars – which is not only a comprehensive but continuous program that covers interesting trading topics online
• Educational seminars
• Workshops
• Videos covering various topics
• Trading Glossary
• Market news

In our evaluation of Equiti’s academy, it’s not the most user friendly and isnt updated on a regular basis. For this reason we find that Equiti’s educational material is not as strong as other brokers.

Equiti has multiple regulated entities around the world including the UK, Jordan and the UAE, and are licensed by some of the most reliable regulatory bodies globally.

As well as being regulated by the FCA in the UK, which is generally a great safety indicator, Equiti is present locally in the UAE and regulated by the Securities and Commodities Authority (SCA).

On the subject of safety, Equiti holds clients' funds in segregated accounts and also offers protection of client funds up to $50,000 per account.

All of these points support Equiti’s excellent reputation in the industry, making them a highly safe broker to trade with in the UAE.

Overall, Equiti is a highly reputable forex and CFD broker in the UAE. It accommodates beginner and advanced traders, however with the slightly more complex MT4 and MT5 platforms and higher than average minimum deposit amount of $500, we recommend Equiti for serious traders that already have some knowledge and understanding of online trading. Overall Equiti is recommended for:

• MT4/MT5 traders
• CFDs and Forex
• EA/ Automated trading
• Personalized customer support
• MAM accounts