Equalpros Review – The Flaws you will Uncover

Equalpros Review

Over the years, online trading has become one of the biggest trends and it has opened the doors of the financial markets for anyone and everyone who wants to make profits and explore the opportunities available. How can they do so?

It is only through online brokers that it is possible and you have to open an account with them to begin your journey. Nevertheless, it does not mean that any broker would do; like other markets, there are both good and bad actors in this space as well, so you have to choose wisely.

The bad ones will not be very obvious, but can be identified, as this Equalpros review will teach you.

It is a must that you never make this decision in a hurry, or rely on someone else to make it for you. The consequences of choosing the wrong brokerage can be long-lasting and you do not want to take that risk.

It is better to take your time to ensure that you are not making a mistake and have opted for a company that can assist you in achieving your goals in the long run.

One mistake you should avoid is believing that you are smart enough to identify a scam brokerage just by looking at it. A lot of people made the same assumption and had to learn their lesson the hard way.

These days, these fraudulent platforms are very well-disguised and skimming through their website will not automatically reveal the truth to you. They know just how to hide it by devising offerings that are hard to resist and making tall claims and false promises.

It is exactly what Equalpros does because it is presented as a trusted broker that has gained recognition for its quality services. It goes on to claim that it offers its services in about 170 countries worldwide and have a horde of forex pairs, indices, energy commodities, precious metals, futures, shares and cryptocurrencies available.

Sounds like quite a broker, until you begin verifying each of the claims that Equalpros has made and this is when you uncover the flaws. Some of the prominent ones can be seen below:

No license and regulation

If there is one feature that can help you determine the legitimacy of an online broker, it is the license they have from a regulatory authority. Every brokerage worth its salt would always get authorization from the regulatory body of the jurisdiction they are based in.

This is a requirement in most countries and is a stamp of approval that shows you can trust them to offer transparent, quality and fair services, without compromising on security and integrity. It is the kind of company every trader is looking for and you would expect the same from Equalpros.

When you go through the Equalpros website, you will discover that it claims to have its headquarters in London, United Kingdom. This is reassuring because the UK is quite well-regulated and the Financial Conduct Authority (FCA), which issues licenses is one of the leading regulatory bodies in the world.

But, when you cross check the licensing credentials of Equalpros in the online register of the FCA, you will discover that it is blatantly lying about operating from the UK.

This alone should give you confirmation that Equalpros is nothing more than an outright scam because a legitimate company would never be dishonest about where it is based.

Only scams would do so because they have something to hide. There is no way for you to ascertain where the broker may actually be operating from, which means it cannot be trusted.

The attempt to steal

The next flaw that you will come across when you check out Equalpros is in the form of two benign looking icons on its website. These are for AnyDesk and Team Viewer that are remote desktop applications, which have been developed for the convenience of people.

Through these apps, you will be able to access your home PC environment no matter where you might be, as long as you have access to the internet.

But, scam brokers like Equalpros usually offer these apps for one purpose; they demand that you share the installation details with them. This means that they will be able to access your PC, along with all the data stored on it.

This includes your passwords, your banking information and other sensitive information, which can be misused. They can steal money directly from your bank account, or steal your personal data for other purposes.

Lack of trading platform

What is the one feature of an online broker that is essential for every trader? It is the trading platform that you have to use for executing your trades, so it has to be up to the mark and provide you with the right technology and cutting-edge tools. But, here you will find another flaw in Equalpros that confirms it is a fraudulent company.

You will discover that Equalpros does not have a functional trading platform at all, which means that opening an account with the broker is absolutely useless. You cannot do any trading at all, so why would you want to use its services? The fraudsters are only after your money and have no platform to offer to you.

Only crypto payments

Another misleading claim that Equalpros has made on its website is about the payment methods it supports. It has mentioned bank wire transfers as well as credit and debit cards, but this is not true at all.

The only payment method that you are given is cryptocurrencies and this is also common amongst scammers. They want you to use your cards, or bank funds to buy crypto that you deposit with the broker.

The benefit of crypto payments to scammers like Equalpros is that they are not eligible for chargeback, so you do not get your funds back. They are also anonymous and this makes it easy to hide the money.

Ending Thoughts

These flaws that you uncover when you look at Equalpros show that the brokerage is an outright scam and cannot be trusted at any cost.