OnEquity Review and Ratings 2024

Founded in 2022 and based in Limassol, Cyprus, OnEquity is a licensed and regulated liquidity Forex and CFDs broker. It offers retail and institutional traders access to a wide range of trading instruments in global financial markets. Clients can trade CFDs on forex, indices, commodities, shares, and cryptocurrencies via the MetaTrader 4 and MetaTrader 5 platforms. They also provide a variety of account types, trading conditions, and educational resources

Additionally, OnEquity specializes in PAMM services for money managers and collaborates with Introducing Brokers. The company’s commitment to excellence ensures a safe, transparent, and trustworthy trading environment for its clients. Recently, OnEquity secured a brokerage license from South Africa’s Financial Sector Conduct Authority (FSCA), expanding its presence in the global financial arena. For more information, you can visit their website.

Trading Markets Offered by OnEquity 

OnEquity provides access to a diverse range of trading markets, allowing investors to trade various financial instruments on a global scale. Below is an overview of the trading markets available through OnEquity.

Forex Currencies Market

The foreign exchange (Forex) market is the world's largest and most liquid financial market. OnEquity offers over 40 major, minor, and exotic currency pairs with leverage up to 1:1000. Traders benefit from 24-hour trading, five days a week, with no commissions applied.

Commodities Market

OnEquity provides a platform to trade a variety of commodities including precious metals like gold and silver, as well as agricultural products and energy commodities like crude oil and natural gas. Trading commodities is commission-free and offers opportunities for portfolio diversification and hedging.

World Indices

Investors can trade major stock market indices from Europe, Asia, and the USA, such as the NASDAQ 100, DOW 30, and FTSE 100. OnEquity offers leverage up to 1:300, enabling traders to maximize their market exposure.

CFDs on Stocks

OnEquity allows trading of Contracts for Difference (CFDs) on a broad range of US, UK, and European stocks. This market enables traders to take long and short positions with low margin requirements and no commissions. Instant dividend payouts are an additional benefit.

Spot Metals

OnEquity also offers trading in spot metals such as gold and silver. These trades benefit from competitive spreads and leverage options. Spot metal trading is commission-free and can serve as a hedge against inflation and market volatility.

CFDs on Cryptocurrencies

Traders can access top cryptocurrencies like Bitcoin, Ethereum, and Litecoin without the need for a crypto wallet. OnEquity provides leverage up to 1:50 for cryptocurrency CFDs, allowing trading in any market direction.

How to Open an Account with OnEquity?

To open an account with OnEquity, follow these steps:

Visit the OnEquity Website: Go to the OnEquity website and look for the “Open an Account” button. You’ll usually find it in the trading accounts section or on the homepage.

Complete the Online Form: Click on the “Open an Account” option, and an online registration form will appear. Fill out the required details, including personal information, contact details, and any other relevant information.

Upload Required Documents: You may need to provide identification documents, proof of address, and other necessary paperwork. Make sure to upload these documents as instructed during the registration process.

Review and Submit: Double-check all the information you’ve entered. Once you’re satisfied, submit your application.

Verification and Approval: OnEquity will verify your details and process your application. This step ensures compliance with regulatory requirements.

Account Activation: Once approved, you’ll receive confirmation, and your account will be activated. You can then start trading Forex, crypto, stocks, and other commodities on the platform.

Remember that specific details may vary based on the platform’s policies and your location. 

OnEquity Deposit Bonus 

OnEquity offers a compelling Welcome Deposit Bonus to new clients, allowing them to potentially double their initial deposit. Here are the details of the offer:

- Bonus Type: 100% Welcome Deposit Bonus.

- Maximum Bonus Amount: Up to $500 USD.

- Validity Period: The offer is active and valid until 30/12/2024.

Key Terms and Conditions:

Eligibility: The bonus is available to new clients who open a trading account with OnEquity during the promotional period.

Bonus Calculation: Upon making an initial deposit, eligible clients can receive a bonus equal to 100% of their deposit amount, up to a maximum of $500 USD.

Activation: To activate the bonus, clients may need to opt-in during the account opening process or make a specific request to their account manager.

Additional Conditions: It's important for clients to review all terms and conditions associated with the Welcome Deposit Bonus, including any restrictions on eligible trading instruments, maximum leverage, and withdrawal conditions.

OnEquity is a Forex and CFDs broker that emphasizes trust and security in its operations. Here are some key details:

Regulation: OnEquity is regulated by reputable financial authorities. Regulatory oversight ensures that the broker adheres to strict standards regarding client funds segregation and operational transparency.

Security Measures: The broker employs robust security measures to protect client data and transactions. This typically includes encryption protocols to safeguard sensitive information and secure payment gateways for deposit and withdrawal processes.

Client Funds Protection: OnEquity prioritizes the protection of client funds. This involves segregating client funds from the broker's operational funds, ensuring that client money is not used for any other purposes.

Transparency: The broker maintains transparency in its dealings with clients. This includes providing clear information about trading conditions, fees, and policies. Transparent communication helps build trust and ensures clients can make informed decisions.

Customer Support: OnEquity offers reliable customer support to assist clients with any queries or issues they may have. Effective customer support contributes to a positive trading experience and reinforces trust between the broker and its clients.

Risk Management: The broker promotes responsible trading practices and provides tools and resources to help clients manage their risk exposure effectively. This commitment to risk management is crucial for protecting clients from unexpected market movements.

Reviews and Reputation: Checking reviews and the broker's reputation among traders can provide additional insights into OnEquity's trustworthiness and reliability. Positive reviews from satisfied clients and a good reputation within the industry are indicators of a broker's commitment to trust and security.

Before choosing OnEquity or any broker, it's essential for traders to conduct thorough research, verify regulatory status, and review terms and conditions carefully to ensure they align with their trading needs and expectations.

During our research for OnEquity review, we found that OnEquity itself isn't a proprietary trading platform, they provide access to the industry-standard MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. Let's delve into what these platforms offer:

MetaTrader 4 (MT4): The All-Around Favorite

MT4 is widely regarded as the go-to platform for forex traders. Its popularity stems from its:

User-Friendly Interface: Even beginners can navigate MT4's intuitive layout with ease.

Robust Features: MT4 packs a punch with advanced charting tools for technical analysis, a variety of order types for precise trade execution, and automated trading capabilities through Expert Advisors (EAs).

Deep Liquidity Pool: OnEquity leverages MT4's connection to a vast network of liquidity providers, ensuring competitive pricing and tighter spreads.

Customization Options: Tailor your trading experience with personalized market watchlists and a range of indicators to suit your trading style.

MetaTrader 5 (MT5): The Feature-Rich Powerhouse

For traders who crave more muscle, OnEquity offers MT5 alongside MT4. Here's what sets MT5 apart:

Enhanced Charting: MT5 boasts even more advanced charting tools than MT4, allowing for in-depth market analysis.

Additional Order Types: Execute your trades with even greater precision using the wider selection of order types available on MT5.

Multi-Asset Trading: While MT4 primarily focuses on forex, MT5 lets you trade a broader range of instruments, including stocks, commodities, and cryptocurrencies (depending on your regulations).

Both MT4 and MT5 are well-established platforms known for their stability and reliability. OnEquity provides the full suite of features for both platforms, catering to experienced traders who value advanced functionalities like automated trading. However, MT4's user-friendly interface makes it a viable option for beginners as well.

Ultimately, the choice between MT4 and MT5 depends on your trading needs and experience level.

OnEquity doesn't do one-size-fits-all. They understand that traders come in all experience levels, and their account options reflect that. Whether you're a complete beginner or a seasoned pro, they have an account to suit your needs and risk tolerance.

Get Your Feet Wet with the Plus Account:

This account is perfect for beginners who want to test the waters without a hefty initial investment. Start with a minimum deposit of just $25 and trade with tiny lots (0.01 minimum). Plus, you'll enjoy commission-free trades, STP/ECN execution for transparency, and leverage up to 1:1000 to magnify your gains (and potential losses). OnEquity even throws in negative balance protection for some peace of mind, daily technical analysis to help you navigate the markets, and swap-free options for those following Islamic finance principles.

Take it Up a Notch with the Prime Account:

For traders who are ready for a bit more, the Prime Account offers all the benefits of the Plus Account, with a couple of key differences. Here, you'll need a larger initial deposit ($1,000), but you'll also benefit from the expertise of a dedicated support team. Plus, you'll pay a $5 commission per trade, which might be offset by tighter spreads.

Unlock the Powerhouse: The Elite Account:

For experienced traders seeking maximum control, the Elite Account brings the ultimate trading experience. It boasts all the features of the Prime Account, plus access to raw spreads, the unfiltered market data preferred by high-volume traders. This account also requires the highest minimum deposit ($5,000).

Looking to Invest, Not Trade? PAMM is Your Answer

OnEquity also caters to investors with their PAMM (Percent Allocation Management Module) accounts. This unique option allows you to allocate your funds to experienced traders and ride their coattails to potential profits. You can monitor their performance in real-time and choose from a variety of managers based on your risk tolerance and investment goals.

So, whether you're a curious beginner or a seasoned market mover, OnEquity has a trading account to help you achieve your financial goals.

Unveiling the Cost, Fees, Deposits, and Withdrawals

OnEquity strives for transparency in its pricing structure. Here's a breakdown of what you can expect:

Deposits:

The good news is deposits are free of charge. OnEquity offers a variety of deposit methods to suit your preference, including bank transfer, credit/debit cards, digital wallets, online payment systems, and even cryptocurrencies. The minimum deposit amount varies depending on the account type:

- Plus Account: $25 minimum

- Prime Account: $1,000 minimum

- Elite Account: $5,000 minimum

Withdrawals:

Similar to deposits, withdrawals are free with OnEquity. They boast fast processing times, so you shouldn't have to wait long to access your funds.

Commissions and Spreads:

Here's where things get account-specific:

Plus Account: This beginner-friendly account offers commission-free trades. However, spreads (the difference between the buy and sell price) may apply.

Prime and Elite Accounts: These accounts come with a $5 commission per trade. However, the Elite account offers tighter raw spreads, potentially leading to lower trading costs for high-volume traders.

Other Fees:

There's no mention of any additional fees on OnEquity's website, such as account inactivity fees or withdrawal fees exceeding a certain amount. It's always a good practice to double-check the latest fee schedule directly with OnEquity before opening an account.

Key Takeaways:

OnEquity stands out for offering free deposits and withdrawals. When it comes to trading costs, the Plus account caters to beginners with commission-free trades, while the Prime and Elite accounts have a $5 commission structure but potentially lower costs for active traders due to tighter spreads (Elite) or being commission-free (Prime).

OnEquity offers multilingual customer support, catering to a global audience. Their team is available 24 hours a day, 5 days a week, which means you can get assistance whenever the markets are open. This accessibility is a plus, especially for traders who might operate in different time zones.

While their website mentions email and phone support as contact methods, it appears live chat functionality might not be available. This could be a drawback for those who prefer the immediacy of real-time chat communication. However, their email address (support@onequity.com) and phone number (+2484671965) are readily available for inquiries.

It's important to note that reviews regarding OnEquity's customer support are mixed. Some users praise their responsiveness, while others mention limited experience beyond basic questions. If prompt and in-depth assistance is crucial for you, it might be wise to factor in these mixed reviews when making your decision.

OnEquity operates under two regulatory bodies depending on the location of the subsidiary you interact with:

Seychelles Financial Services Authority (FSA): If you deal with OnEquity Ltd, incorporated in Seychelles, they are authorized as a Securities Dealer with License No. SD154. This means the Seychelles FSA oversees their activities to ensure they comply with relevant regulations.

Financial Sector Conduct Authority (FSCA): For clients of OnEquity SA (Pty) Ltd, incorporated in South Africa, the Financial Sector Conduct Authority (FSCA) acts as their regulator. OnEquity SA is registered with the FSP No. 53187.

In addition to these regulatory bodies, OnEquity adheres to the Consolidated Securities Act, 2007 (Seychelles). This act establishes a legal framework for securities trading in Seychelles, aiming to protect investors and promote market fairness.

Overall, while OnEquity itself isn't directly regulated, they operate under the oversight of established financial authorities depending on their location. This can provide some assurance to potential clients about OnEquity's adherence to financial regulations. However, as always, it's recommended to conduct your own research and due diligence before investing with any financial service provider.

OnEquity caters to a range of traders, from beginners to seasoned veterans, with a variety of account types, user-friendly trading platforms (MT4 and MT5), and multiple deposit/withdrawal options.  Regulation under the Seychelles FSA and FSCA (depending on location) offers some peace of mind, but it's advisable to conduct your own research to understand the specific risks involved.

OnEquity shines with features like free deposits/withdrawals, commission-free accounts (Plus account), and 24/5 multilingual customer support. However, keep in mind potential limitations like wider fixed spreads (Plus account) and mixed reviews regarding the depth of customer service.

Ultimately, OnEquity's suitability depends on your individual needs and risk tolerance. If you're a beginner, the Plus account with its user-friendly interface and commission-free trades could be a good starting point. But if you're an experienced trader seeking tighter spreads and advanced features, the Elite account might be more fitting,  provided you  understand the risks associated with higher leverage and raw spreads.  By carefully considering these factors, you can decide if OnEquity is the right trading platform for you.