Mahe, Seychelles
Investing and trading in financial markets such as the stock exchange, forex, digital currencies in the form of spot or with leverage face a high inherent risk. According to the statistics of all exchanges and brokers, more than 75% of people lose!
OnEquity offers commission-free Forex trading with spreads as low as 0.0 pips through three account types.
PAMM accounts and an affiliate program with commissions of up to $500 are some attractive offerings of the Most Transparent FX Broker 2024 by Forex Expo Dubai.
OnEquity offers spreads as low as 0.0 pips on EUR/USD
OnEquity was incorporated in 2022 as a Securities Dealer in Seychelles with license No. SD154. The broker operates through multiple companies and has acquired two regulations, including:
| Entity Parameters/Branches | OnEquity Ltd | OnEquity LLC | OnEquity SA (Pty) Ltd |
Regulation | FSA | FSA | FSCA |
Regulation Tier | 3 | 3 | 2 |
Country | Seychelles | St. Vincent and the Grenadines | South Africa |
Investor Protection Fund/Compensation Scheme | No | No | No |
Segregated Funds | Yes | Yes | Yes |
Negative Balance Protection | Yes | No | Yes |
Maximum Leverage | 1:1000 | 1:1000 | 1:1000 |
Client Eligibility | Global | Global | Global |
License Number | SD154 | 286 LLC 2020 | 53187 |
Executive Chairman Nick Michaelides and CEO Emanuel Fernandes founded the company. However, there are no online profiles or disclosed information on the broker's official website. Here's what little we know about Mr. Fernandes:
The Forex broker prioritizes client protection by implementing segregated bank accounts, negative balance protection, and PCI-compliant data protection.
Broker | OnEquity |
Account Types | Plus, Prime, Elite |
Regulating Authorities | FSCA, FSA |
Based Currencies | USD, EUR, JPY |
Minimum Deposit | $25 |
Deposit Methods | Visa, MasterCard, Skrill, Neteller, FairPay, Payretailers, PaymentAsia, Epay, Help2Pay, PerfectMoney, PIX/TED, Swiffy, Ozow, VertuPay, KoraPay, Crypto, Bank Wire |
Withdrawal Methods | Skrill, Neteller, Payretailers, PaymentAsia, Help2Pay, PerfectMoney, PIX/TED, Swiffy, Ozow, VertuPay, KoraPay, Crypto, Bank Wire |
Minimum Order | 0.01 lots |
Maximum Leverage | 1:1000 |
Investment Options | PAMM |
Trading Platforms & Apps | MT5, MT4 |
Markets | Forex, Indices, Shares, Commodities, Crypto |
Spread | From 0.0 pips |
Commission | Variable based on the account type |
Orders Execution | STP/ECN |
Margin Call / Stop Out | 70% / 30% |
Trading Features | Commission-free Trading, PAMM Accounts, Islamic Account, Economic Calendar, Dynamic Leverage, Equinix Data Center |
Affiliate Program | Yes |
Bonus & Promotions | No |
Islamic Account | Yes |
PAMM Account | Yes |
Customer Support Ways | Email, Phone, Ticket, Live Chat |
Customer Support Hours | 24/5 |
The company caters to traders of all experience levels with itsthree distinct account types, with the following key features:
Features | Plus | Prime | Elite |
Min Deposit | $25 | $1,000 | $5,000 |
Base Currencies | USD, EUR, JPY | USD, EUR, JPY | USD, EUR, JPY |
Max Dynamic Leverage | 1:1000 | 1:1000 | 1:1000 |
Market Execution | STP/ECN | STP/ECN | STP/ECN |
Min Order Size | 0.01 lots | 0.01 lots | 0.01 lots |
Spreads from | 1.5 pips | 0.4 pips | 0.0 pip |
Commission | $0 | $5 | $5 |
Margin Call | 70% | 70% | 70% |
Stop Out | 30% | 30% | 30% |
Swap-Free Option | Yes | No | No |
Important Tip: The dynamic leverage option is automatically adjusted based on your trade volume.
The broker offers a swap-free (Islamic) feature, available only to Muslim clients. Note that the time limit to hold a position without rollover charges is 10 days.
To open an Islamic account with OnEquty, you’ll first need to complete the standard account registration process.
Once your account is verified and funded, you can request an upgrade to an Islamic account. This account type complies with Sharia Law, ensuring all trading activities are halal and free from interest (riba).
The broker has won multiple awards, including the “Best Multi-Asset Broker 2024” and the “Most Innovative CFD Trading Platform MEA 2024” by IBM Awards.
However, like any other trading services provider, this company too has some downsides.
Pros | Cons |
Robust Equinix data center | Lack of top-tier licensing |
Advanced MetaQuotes platforms | High entry barrier ($25) |
Spreads as low as 0.0 pips | Limited asset offerings (300+) |
Dynamic leverage options of up to 1:1000 | No TradingView support |
The OnEquity registration process lets you create a trading account in minutes. Provide basic details, verify your email, and agree to terms; no fees, just fast access to trading.
Visit the broker's official website and click "Open Account" to get started.
Fill in the sign up form with the following details:
Check your inbox for OnEquity’s confirmation email and click "Verify Email" to activate your account.
Log in to theOnEquity dashboard, accept the terms and conditions, and click "Continue" to start trading.
To complete the OnEquity KYC procedure, log in to the client dashboard, navigate to the verification section, and provide supporting documents, including:
The company provides traders access to the industry-leading MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, offering a robust and feature-rich trading experience.
MT4 is a leading trading platform offering advanced charting, automated trading (Expert Advisors), and real-time market execution.
MetaTrader 5 (MT5) is an advanced multi-asset platform offering 21 timeframes, 80+ indicators, and algorithmic trading with MQL5 for forex, stocks, and crypto.
TradingFinder has developed various MT4 and MT5 indicators that you can use for free.
In this OnEquity review, we must mention that the broker offers commission-free trading on its Plus account with a 1.5 pips markup on spreads.
Account Type | Commission | Spreads from (pips) |
Plus | $0 | 1.5 |
Prime | $5 | 0.4 |
Elite | $5 | 0.0 |
While the no-commission condition is persuasive, you should consider the spread markup and the higher-than-average commission on Prime and Elite accounts before your final decision.
The table below gatherslive spread prices at the time of writing this OnEquity review for popular Forex market pairs:
Trading Instrument | Spread (Pips) |
EURUSD | 0.2 |
GBPUSD | 0.2 |
AUDUSD | 0.4 |
USDCAD | 0.9 |
USDJPY | 0.4 |
EURCHF | 2.7 |
EURGBP | 1.8 |
GBPCAD | 4.1 |
Swap fees are overnight interest charges applied when holding leveraged positions past market close. They vary by instrument and market conditions, impacting long-term trading costs and influencing trading strategies in forex, commodities, indices, and cryptocurrency CFD trading.
However, OnEquity doesn't disclose any specific data about rollover charges on its website.
The broker charges no transaction fees for deposits and withdrawals. However, after 12 months of inactivity, there is a dormant fee of $10.
To cater to its global client base, the company offers a wide array of deposit and withdrawal options, from Bank Wire to Crypto wallets.
While the broker claims to support all of the methods mentioned above, once we accessed the client cabinet, the only available methods were PIX, VISA, MasterCard, Cryptocurrencies, such as Bitcoin and USDT, Neteller, and Skrill.
Here are the key features of OnEquity funding methods:
Payment Method | Currency | Processing Time | Min Deposit |
PIX | BRL | 24 Hours | $5,000 (27,215.89 BRL) |
Cryptocurrencies | USDT, USDC, ADA, BCH, BNB, BTC, DASH, ETH, LTC, XRP, ZEC | 30 Minutes | $5,000 |
Credit / Debit Cards | USD | 24 Hours | $5,000 |
Neteller | USD | 30 Minutes | $5,000 |
Skrill | USD | 30 Minutes | $5,000 |
The broker offers the same deposit methods for withdrawals, too. While the minimum withdrawal is not specified, the processing time is the same.
The broker offers a PAMM service for investors and money managers across the MetaTrader 4 and MetaTrader 5 platforms with the following features:
The PAMM and copy trading system provides a win-win solution. It allows less experienced traders to benefit from the expertise of successful managers while allowing skilled traders to expand their income potential.
The company offers access to 300+ trading instruments and five asset classes, from Forex to Cryptocurrencies.
Category | Type of Instruments | Number of Symbols | Competitor Average | Max Leverage |
Forex | CFDs | Over 40 | 50 - 70 currency pairs | 1:1000 |
Indices | CFDs | 28 | 10 - 20 instruments | 1:300 |
Stocks | CFDs | 250+ | 800 - 1200 | 1:10 |
Commodities | CFDs | 2 metals (gold and silver), 3 energies (WTI, NGAS, and BRENT), and 7 agricultural products (e.g., Coffee and Cotton) | 15 - 30 instruments | 1:400 |
Cryptocurrencies | CFDs | 15+ | 20 - 30 instruments | 1:50 |
The wide range of tradable markets allows traders to diversify their portfolios and strategies.
While the broker previously offered a 100% welcome bonus of up to $500, the promotion was valid until the end of 2024.
However, OnEquity has a partnership program in two models: Affiliates and IBs.
Celebrated for its excellence, transparency, and innovation, the broker has received multiple global awards, reflecting its leadership in Forex, CFD trading, and multi-asset brokerage. Recognitions span regions from the GCC to Africa, underscoring its rapid growth and market trust.
The broker prides itself on providing comprehensive and responsive 24/5 customer support through various channels, including:
support@onequity.com | |
Tel | +2484671965 |
Ticket | Accessible through the “Contact Us” Page |
Live Chat | Available on the official website |
While OnEquity strives to serve a global clientele, regulatory restrictions prevent it from offering services in certain jurisdictions, including:
It's important to note that this list may change based on evolving regulatory landscapes. Traders should always check the most up-to-date information on OnEquity's website or contact customer support for the latest details on country restrictions.
The broker has garnered mostly positive feedback across multiple reputable websites, such as:
4.6/5 based on 827 reviews | |
Forex Peace Army | 2.4/5 based on 3 comments |
While 90% of OnEquity reviews on TrustPilot are positive (4-star and 5-star), only 7% are negative, resulting in an excellent trust score.
Positive comments praise the broker's transparency, low commissions, fast execution speed, and high-quality customer support.
However, some clients have complained about undisclosed withdrawal fees, payout refusal, profit removal, and a complicated withdrawal process.
The company is committed to empowering its traders with knowledge and skills through a comprehensive suite of educational resources and tools, including:
You can also use TradingFinder's Forex education section for additional resources.
Let's check OnEquity's services in comparison with the top brokers:
Parameter | OnEquity Broker | HFM Broker | FxPro Broker | FXGlory Broker |
Regulation | FSCA, FSA | CySEC, DFSA, FCA, FSCA, FSA | FCA, FSCA, CySEC, SCB | No |
Minimum Spread | From 0.0 pips | From 0.0 Pips | From 0.0 Pips | From 0.1 Pips |
Commission | From $0.0 | From $0 | From $0 | $0 |
Minimum Deposit | $25 | From $0 | $100 | $1 |
Maximum Leverage | 1:1000 | 1:2000 | 1:500 | 1:3000 |
Trading Platforms | MT5, MT4 | MT4, MT5, Mobile App | MT4, MT5, cTrader, Web Trader, Mobile App | MetaTrader 4, MetaTrader 5 |
Account Types | Plus, Prime, Elite | Cent, Zero, Pro, Premium | Standard, Pro, Raw+, Elite | Standard, Premium, VIP, CIP |
Islamic Account | Yes | Yes | Yes | Yes |
Number of Tradable Assets | 300+ | 1,000+ | 2100+ | 45 |
Trade Execution | Market, Instant | Market, Buy Stop, Stop Loss, Limit, Take Profit | Market, Pending | Market, Instant |
OnEquity provides access to 300+ trading instruments with dynamic leverage options of 1:1000 via the MT4 and MT5 platforms.
The broker has an excellent TrustPilot score of 4.6 out of 5. It supports Neteller and Skrill payments and doesn’t accept US clients.
The FSCA in South Africa and the FSA in Seychelles oversee the broker’s operation.
OnEquity provides both MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms.
The minimum deposit starts at $25 for the Plus account.
OnEquity offers three accounts: Plus (no commission, 1.5 pips spread), Prime ($5 commission, 0.4 pips spread), and Elite ($5 commission, 0.0 pips spread). Elite requires a $5,000 minimum deposit, while Plus starts at $25. All support 1:1000 leverage.
Only the Plus account is commission-free, but spreads start at 1.5 pips. Prime and Elite accounts charge $5 per lot but offer tighter spreads (0.4 pips and 0.0 pips, respectively).
Yes, OnEquity provides swap-free Islamic accounts compliant with Sharia law. Positions held beyond 10 days may incur rollover fees. Traders must request this feature after standard account verification.
OnEquity offers dynamic leverage up to 1:1000, adjusted automatically based on trade volume. Higher leverage increases risk, so use caution.
Deposits: Credit/debit cards, e-wallets (Skrill, Neteller), crypto (BTC, USDT), and bank transfers. Withdrawals exclude cards but support e-wallets, crypto, and bank wires. Processing times range from 30 minutes (e-wallets) to 5 days (bank transfers).
No withdrawal fees, but a $10 dormant fee applies after 12 months of inactivity. Some payment providers may charge external fees.
Yes, OnEquity’s PAMM accounts let investors allocate funds to professional managers. Features include segregated accounts, MT4/MT5 integration, and performance-based profit sharing.
OnEquity offers 300+ instruments: 40+ forex pairs, commodities (gold, oil), stocks (NYSE, NASDAQ), indices (S&P 500), and 15+ cryptocurrencies (BTC, ETH) with up to 1:50 leverage.
No, OnEquity restricts clients from prohibited countries, including the US, Canada, Iran, and North Korea, due to regulatory constraints.
Submit a valid ID (passport, driver’s license) and proof of address (utility bill) via the client dashboard. Verification typically takes 1–2 business days.
The margin call is set at 70%, and stop-out at 30% for all accounts. If equity falls below 30%, positions are automatically closed.
No, OnEquity discontinued its 100% welcome bonus in 2024 but runs an affiliate program with commissions up to $500 CPA.
Yes, traders access a real-time economic calendar, daily market analysis, and weekly outlooks to inform strategies.
