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 (Company Information and Regulation)
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:
- The Seychelles Financial Services Authority (FSA) with Reg No. 810588-1
- The South Africa Financial Sector Conduct Authority (FSCA) with FSP No. 53187
OnEquity Specific Features
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 |
OnEquity Broker Account Offerings
The company caters to traders of all experience levels with its three 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: Dynamic leverage is automatically adjusted based on your trade volume.
OnEquity Account Opening and KYC
The broker offers services to individual and corporate clients. You must be over 18 to open an individual account.
- Visit the broker’s official website;
- Click “Open Account”;
- Fill out the registration form;
- Verify your email address;
- Agree to the “Client’s Agreement”;
- Upload ID/Passport and proof of residence (e.g., utility bill, credit card statement, or bank statement).
OnEquity Broker Apps and Platforms
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.
MetaTrader 4 (MT4)
MetaTrader 5 (MT5)
Fees and Commissions
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 broker charges no transaction fees for deposits and withdrawals. However, after 12 months of inactivity, there is a dormant fee of $10.
OnEquity Funding and Withdrawal Methods
To cater to its global client base, the company offers a wide array of deposit and withdrawal options, from Bank Wire to Crypto wallets.
- Credit/Debit Cards (Deposits Only): Visa and MasterCard
- E-Wallets: Skrill, Neteller, FairPay (deposits only), Payretailers, PaymentAsia, Epay (deposits only), Help2Pay, and PerfectMoney
- Local APMs: PIX/TED, Swiffy, Ozow, VertuPay, KoraPay
- Cryptocurrencies: BTC, USDT, ETH, and BNB
- Bank Wire: USD, EUR, GBP, ZAR, and JPY
OnEquity PAMM Accounts
The broker offers a PAMM service for investors and money managers across the MetaTrader 4 and MetaTrader 5 platforms with the following features:
- Best execution of trades
- Access to top trading experts
- Investor funds safeguarded in segregated accounts
- Fully integrated with MT4 and MT5 platforms
One of the advantages of this OnEquity review is that the PAMM 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.
Promotional Programs
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.
- Affiliate: $500 + CPA deals
- Introducing Broker (IB): Multi-level sub-IB structure with fixed rebate and rev-share options
OnEquity Customer Support
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 |
Customer Experience
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.
Expert’s Opinion
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.
