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Is Equitiz a reliable broker?
Tawfiq Ioannou
Belarus
2023-10-20
ANSWER No, Equitiz is not reliable. On the contrary, it is a fraudulent trading platform.Equitiz pretends to be a trustworthy company but does not disclose any details about its regulation or contact. This is a clear sign of an unregulated broker, as licensed companies always display their credentials and licenses prominently. It is a warning sign. Moreover, it is based in Switzerland, but no corresponding information was found in the Swiss Financial Market Supervisory (FINMA).Additionally, both the Financial Conduct Authority (FCA) and the Comisión Nacional del Mercado de Valores (CNMV) have warned that Equitiz was offering financial services or products without proper authorization. The FCA warning can be accessed here, and the CNMV here. Besides, the negative feedback from its clients confirms that it is a dishonest platform.The reality is that Equitiz is not supervised by any regulators and is a fraud. Allowing it to manage or possess investors' money is risky, and the money can not be safeguarded by any laws. We strongly suggest investors steer clear of Equitiz and other unlicensed trading platforms. To protect the interests, it is recommended to choose fully regulated brokers instead.
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