EqualityFin review – 5 things you should know about equalityfin.com

EqualityFin review – 5 things you should know about equalityfin.com

Rating: 1

Beware! EqualityFin is an offshore broker! Your investment may be at risk.



Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.


Now here’s a broker to really look out for, and not in a positive light. EqualityFin is indeed a dangerous entity due to its high potential of alluring user crafted by an expert-looking website that was even able to seduce us for a short time. Shady brokers like EqualityFin are really dangerous because it is obvious that they have put some extra effort and care into their schemes. At first glance everything is well-arranged  and smooth, and this principle has rooted itself in mostly everything. However, illicit brokers cannot hide forever, and there was bound to be a slip-up. and of course there was.

The first of these slip-ups was the registration process itself along with the user area, all of which are very common to unlicensed brokers. But unexperienced traders will not notice this.

We reached a user area, and on it we found that the broker offered forex currency pairs, commodities, cryptocurrencies, indices, and stocks. The 0.1 EUR/USD spread is definitely not up to date, even though it is, technically, the best cost of trade one would wish for. The reason why such a low spread is impossible is because the broker would not be gaining anything from it. That is why such spreads are either commissioned or completely misleading. The leverage is capped at 1:200.

The language of the website is available in English, Chinese, Arabic, Dutch, German, French, Italian, Portuguese, Russian, and Spanish.


The terms and conditions claim that user must get acquainted with the laws of Estonia in order to use EqualityFin. This firmly convey that the broker must be licensed in Estonia by the only agency that has the power to regulate FX brokers- the Financial Supervisory Authority, or Finantsinspektsioon). Well, it isn’t; we checked the database of the agency just to make sure. Once again, Estonia has been used as a scapegoat.

The other major detail is an alleged incorporation in the UK, which is equally as unbelievable as the Estonian license. In the UK one must be licensed by the FCA in order to offer legit FX services. If an FCA license is missing, the the broker is legally located in the UK. We don’t know if EqualityFin is actaully located in the UK, but what we know for sure is that it is definitely not licensed there.

In fact, EqualityFin is not licensed anywhere. It is a risk to all!

Perhaps the most crucial move a user can make in the process of deciding what broker best suits her needs is to ascertain that the broker is regulated, properly, by a legitmate license issuer (there is a rise in fake regulators). Make sure your broker of choice is a UKEUUS, or Aussie-licensed entity; there are other perfectly fine jurisdictions where a firm can be authorized, it’s just that these ones are the most developed in terms of providing the best possible trader security. Moreover, some specific regulators also allow for their regulated brokers to participate in compensation schemes which add a very sturdy extra layer of defense. The FCA guarantees up to £85 000, while CySEC guarantees up to €20 000 per person.


Here we have a popular scammer brokerage web trader that we have seen quite a lot of in the past couple of weeks. It’s growing in popularity menas that we will be seeing much of it in the future.

Honestly, the best thing about this one is its visual aesthetic. Everything else will get old very fast.


From the client portal we learn that the minimum deposit is $50, while the payment methods have been left out. The withdrawal area is also barren of any information.

Here is what we learn from the Deposit/Withdraw Policy, a set of legal provisions that seem to be very farfetched. These are the withdrawal fees indicated there:  $35 commission credit card withdrawals, $50 for bank transfers, $25 for all alternative methods. Plus a 10% commission on withdrawals made prior to completing a 200x trading turnover of the initial deposit. The minimum withdrawal is $250 for bank transfer and $100 for all other methods. Withdrawals are processed within 5 to 7 days.

These aforementioned payment methods – cards, bank transfers, e-wallets – are what we have to work with when talking about payment methods.

There is no reason to trust EqualityFin, an unregulated company and a risk to all your investments! Not to mention that it is not trustworthy, and can use your personal details for its own goals.

How Does The Scam Work

We can easily reverse-engineer the scammer process by looking at the whole thing as a series of contained events.

The first of these is falling for one of the thousands of online ads that lead to any number of fraudulent investment websites. The most obvious aspect of such ads is their ability to attract the eye gaze of users since they include glamorous content that we have all dreamed of owning.

Giving in to one of these ads will lead the user to one of two sources: either a so-called intermediary website or the scammer brokerage itself. The former works to introduce the latter, so the principle remains generally the same. The second step ensues once the user provides the crucial contact details that will be used by the firm to solicit funds. Because they are crucial to the scheming process, the broker will put a lot of input into this effort.

The third event is establishing grounds for communication, and a pivotal point for recruiting the user as a depositor. The first deposit is the hardest to sell, and that is why most scammer brokerages have dedicated internal departments whose only job is to entail a preliminary investment.

The fourth even is up to the retainers, or the expert scammers – account managers-, whose job is to keep the user invested as long as possible and to drain as much money out of her. Here is where many, unbeknownst to the user, psychological tricks are used by the scamming experts to really deplte funds from accounts.

The final step is containing the damages,  or to put it in the lingo of the perps- to keep the stolen mon ey with minimal collateral damage. Here is where the scammers get cheap. Many will simply ignore the requests of withdrawals- or simply stall them-, or can shut down accounts and even entire websites for the purpose of keeping what they have stolen.

What To Do When Scammed

Fiel for a chargeback! It’s the surest way to get your money back, although not many scammer brokers allow for credit/debit card deposits. They are aware that users can file for a chargeback, and therefore condemn it by either not including cards payment gateways or by penalizing the client when she files for one. Note that,  VISA and MasterCard have extended their cash-back period to 540 days.

A popular payment method is bank transfer, and here is where things get tricky. Users should contact the bank to help them out if they get scammed, but there is no real guarantee that the banking institution will be able to help them out. Moreover, change your bank account user name and password ASAP should you get defrauded.

Crypto payments are untraceable and are therefore non-refundable. For these reasons, crypto wallets are the favorite means for investing for scammers.

The last point to make concerns recovery agents whose promises will tempt many a victim. Agents or agencies promising some magical way to recover your stolen funds are separate fraudulent entities.

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