OnEquity Review

 

Overall, OnEquity is a compelling brokerage solution with customized services tailored to its traders’ individual trading needs.  OnEquity has a low minimum deposit requirement and access to MetaTrader 4 and MetaTrader 5.  OnEquity has a trust score of 80 out of 99.

 

 

 

 

 

 

 

OnEquity Review – Analysis of Brokers’ Main Features

 

1. ☑️ OnEquity Overview
2. ☑️ OnEquity Detailed Summary
3. ☑️ OnEquity – Advantages over Competitors
4. ☑️ Who will Benefit from Trading with OnEquity?
5. ☑️ OnEquity Safety and Security
6. ☑️ OnEquity Affiliate Program
7. ☑️ OnEquity Minimum Deposit
8. ☑️ OnEquity Account Types and Features
9. ☑️ How to Open and Close an OnEquity Account
10. ☑️ OnEquity Trading Platforms
11. ☑️ OnEquity MAM / PAMM Features
12. ☑️ Social Trading with OnEquity
13. ☑️ Which Markets Can You Trade with OnEquity?
14. ☑️ OnEquity Fees, Spreads, and Commissions
15. ☑️ OnEquity Deposits and Withdrawals
16. ☑️ OnEquity Customer Support
17. ☑️ OnEquity Cashback Rebates Features and Conditions
18. ☑️ OnEquity Trading Signals
19. ☑️ OnEquity Geographic Reach and Limitations
20. ☑️ OnEquity vs FP Markets vs JustMarkets – A Comparison
21. ☑️ OnEquity Alternatives
22. ☑️ Our Experience with OnEquity
23. ☑️ Recommendations according to our in-depth review of OnEquity
24. ☑️ OnEquity User Reviews
25. ☑️ OnEquity Pros and Cons
26. ☑️ In Conclusion
27. ☑️ Frequently Asked Questions

 

 

OnEquity Overview

 

OnEquity offers a compelling brokerage solution for South African traders, combining worldwide reach with customized services tailored to their trading requirements.  With its headquarters in Seychelles and a large presence in South Africa, OnEquity is committed to offering accessible and specialized trading solutions across the African continent.

The broker’s competitive advantage stems from its low minimum deposit requirement of only $25, making it an appealing platform for traders of all skill levels, from novices to seasoned pros.

South African traders may benefit from OnEquity’s connection with the famous MetaTrader 4 and 5 platforms, which provide access to a wide range of trading products such as Forex, commodities, stocks, and cryptocurrencies.

Furthermore, the Elite Account offers commission-free accounts with attractive spreads, ensuring cost-effective trading conditions.  OnEquity’s commitment to improving the trading experience is demonstrated by new features such as social trading and signal sharing, which promote a community where traders can learn and grow together.

The availability of several deposit and withdrawal methods, including options tailored to South African preferences, guarantees efficient fund administration.

Furthermore, the broker’s regulatory compliance with South Africa’s Financial Sector Conduct Authority (FSCA) guarantees traders its dependability and dedication to maintaining high levels of security and transparency.  For South African traders seeking a broker who combines worldwide standards with local knowledge, OnEquity is an excellent alternative.

 

 

OnEquity Detailed Summary

 

 

 

OnEquity – Advantages over Competitors

 

OnEquity has the following notable advantages over competitors:

 

• ✅ South African traders can benefit from OnEquity’s connection with MetaTrader 4 and 5, which provides advanced trading features, technical analysis tools, and automated trading capabilities on a globally recognized platform.
• ✅ OnEquity enables various deposit and withdrawal options suitable for South African traders, including local bank transfers and digital wallets, allowing for simple and rapid capital management.
• ✅ The broker offers attractive trading conditions, including commission-free accounts and low spreads on the Elite Account, which reduces trading expenses for South African traders.
• ✅ OnEquity’s dedication to openness and fairness is demonstrated by its straightforward pricing structure and lack of hidden costs, allowing South African traders to trade confidently and clearly.
• ✅ OnEquity has a low minimum deposit requirement of only 482 ZAR, making it easy for South African traders of all skill levels to begin trading without making a large initial commitment.
• ✅ The availability of training tools and a demo account assists South African traders in their learning journey by allowing them to practice trading methods in a risk-free environment before entering live markets.
• ✅ The broker is regulated by South Africa’s Financial Sector Conduct Authority (FSCA), which adds trust and security to the trading experience by assuring compliance with local financial legislation.
• ✅ The broker’s customer service is customized to the needs of South African traders, with bilingual support and a local presence to provide timely and appropriate help.
• ✅ OnEquity’s broad choice of trading instruments, including Forex, commodities, stocks, and cryptocurrencies, caters to South African traders’ different trading interests, allowing them to diversify their portfolios.

 

 

Finally, Innovative features like social trading and signal sharing are offered, allowing South African traders to reproduce successful methods while connecting with a worldwide trading community for increased learning and growth.

 

 

Who will Benefit from Trading with OnEquity?

 

With a wide selection of trading instruments accessible, including Forex, commodities, equities, and cryptocurrencies, South African traders seeking to diversify their investment portfolios will find OnEquity’s offers appealing. The ability to trade across many markets opens up prospects for risk management and strategic investment. Furthermore:

 

• ✅ The addition of Swiffy for ZAR deposits and withdrawals meets South African traders’ preferences for local payment methods. This functionality streamlines the financing and withdrawal processes, making it easier and more accessible for traders who wish to trade in local currency without paying currency translation costs.
• ✅ OnEquity’s social trading and signal-sharing tools are especially useful for traders looking to use the expertise and methods of a worldwide trading community. South African traders may use these characteristics by duplicating successful methods in real-time, which is especially beneficial for beginners trying to improve their trading strategies or learn from more experienced traders.
• ✅ In South Africa, OnEquity is regulated by the Financial Sector Conduct Authority (FSCA), providing extra protection and confidence. Traders who want to trade with a broker who follows local regulatory requirements would enjoy OnEquity’s adherence to FSCA laws.
• ✅ OnEquity’s competitive trading conditions, which include commission-free accounts and minimal spreads on the Elite Account, allow traders to maximize earnings while reducing costs. This is especially enticing to busy traders and high-volume traders.
• ✅ With OnEquity’s modest minimum deposit of 482 ZAR, beginner traders in South Africa may begin trading without making a significant initial commitment. This feature, access to instructional materials, and a demo account make OnEquity an excellent choice for beginners wishing to enter the trading market.

 

 

Finally, The combination of the MetaTrader 4 and 5 platforms provides extensive charting tools, technical indicators, and automated trading capabilities. Experienced South African traders seeking a stable trading environment with professional tools may find OnEquity’s products useful.

 

 

How does OnEquity stand out in terms of customer service for South Africans?

OnEquity provides quick multilingual customer assistance, ensuring that South African traders’ questions are immediately answered. This is especially useful in an area where local language support may improve the trading experience.

 

What benefits does OnEquity provide in terms of trading platforms for South Africans?

OnEquity provides access to the globally regarded MetaTrader 4 and MetaTrader 5 platforms, which include powerful charting tools and automated trading features that meet the different demands of South African traders.

 

 

 

OnEquity Safety and Security

 

OnEquity is regulated by the Financial Sector Conduct Authority (FSCA) under FSP 53187. Furthermore, OnEquity’s global regulations are listed in the table below.

 

OnEquity Global Regulations

 

 

OnEquity Protection of Client Funds

 

 

OnEquity – Security while Trading

 

Prioritizing the safety and security of its South African clients, OnEquity employs several stringent safeguards to secure their funds and personal data.

OnEquity, governed in South Africa by the Financial Sector Conduct Authority (FSCA), maintains a secure trading environment by adhering to stringent regulatory standards.

This regional regulation inspires traders with a sense of assurance, aware that their broker functions within the purview of a reputable financial governing body.

In addition, sophisticated encryption technologies are utilized by OnEquity to protect data transmissions, guaranteeing the confidentiality of personal and financial information against unauthorized intrusion.

Additionally, the broker requires the use of segregated accounts for client funds. This procedure provides an additional layer of financial security by separating traders’ capital from the company’s operational funds.

Due to these precautions and OnEquity’s steadfast adherence to global security norms, the platform is a secure and dependable option for South African traders.

 

 

Pros and Cons Regulation and Safety of Funds

 

 

 

How does OnEquity protect South African traders’ funds?

OnEquity separates South African traders’ funds into separate accounts, guaranteeing they are not utilized for corporate reasons and adding an extra degree of security.

 

How does OnEquity manage cybersecurity risks and possible breaches to safeguard South African traders?

OnEquity has a dedicated cybersecurity team that monitors possible attacks and takes aggressive actions to secure South African traders’ accounts and data.

 

 

 

OnEquity Affiliate Program

 

South African affiliates who join the OnEquity program will benefit from a full set of tools designed to help them market their business and maximize their earnings potential.

OnEquity gives affiliates individual tracking links that precisely measure the traffic and clients they refer, ensuring they are adequately reimbursed for their efforts.

The program provides competitive compensation structures, including CPA (Cost Per Acquisition) models that pay affiliates a set amount for each eligible trader they recommend who satisfies specified requirements, including placing a deposit and completing trades.

Affiliates get access to various marketing resources, including banners, landing pages, and promotional content designed to attract and convert referrals.

These tools have been optimized for several platforms, allowing affiliates to efficiently target their audience across websites, social media, and email campaigns.

OnEquity’s affiliate dashboard also includes sophisticated reporting capabilities that provide real-time data on referral activity, conversion rates, and revenues. This data is crucial for affiliates as they analyze their success and change their plans for greater outcomes.

Furthermore, OnEquity’s specialized affiliate support staff is accessible to answer any concerns or issues, providing direction and advice to help affiliates flourish.

This thorough support system and the program’s sophisticated features make OnEquity an appealing alternative for South African affiliates wishing to benefit by advertising a trustworthy trading platform.

 

How to open an Affiliate Account with OnEquity

 

To register an Affiliate Account, South African traders can follow these steps:

 

• ✅ Visit the OnEquity website and find the area for affiliates or partners, usually at the bottom of the homepage or under a separate “Partners” link.
• ✅ To go to the affiliate registration page, click the “Become an Affiliate” or “Join Our Affiliate Programme” link. This website will provide full information on the program and the advantages of participating.
• ✅ Complete the affiliate application form with your name, email address, and contact information. You will also need to offer specifics about your marketing tactics, such as your website URL or social media platforms so that OnEquity can understand how you intend to promote their services.
• ✅ Accept the terms and conditions of the OnEquity affiliate program. To understand your affiliate rights and duties, read them carefully.
• ✅ Please submit your application and wait for approval. OnEquity will assess your application to verify it satisfies their affiliate requirements. This procedure may take several days, following which you will receive an email with the status of your application.

 

 

Once accepted, you can access the OnEquity affiliate dashboard, which contains your unique affiliate links, marketing materials, and complete information on your referrals and revenue.

 

 

Is there a specific requirement to qualify for an affiliate account with OnEquity for South Africans?

To qualify for an affiliate account with OnEquity, individuals from South Africa typically need to have a website or online platform related to finance or trading and adhere to the broker’s affiliate program terms and conditions.

 

Does OnEquity charge any fees for joining its affiliate program for South Africans?

No, OnEquity does not charge any fees for joining their affiliate program for South Africans. It is free to register and participate in the program.

 

Is there a minimum threshold for commission pay-outs for affiliates with OnEquity for South Africans?

Yes, OnEquity may impose a minimum threshold for commission pay-outs for affiliates from South Africa, which they need to reach before they can withdraw their earnings.

 

How frequently does OnEquity pay out affiliate commissions for South Africans?

Affiliate commissions are typically paid monthly for South Africans, although the frequency may vary depending on the payment method and the affiliate’s preferences.

 

 

 

OnEquity Minimum Deposit

 

 

 

Are there different minimum deposit requirements for the various account types offered by OnEquity to South Africans?

Yes, OnEquity’s minimum deposit requirements vary by account type, catering to a wide range of trading expertise and financial capabilities among South African traders, with higher-tier accounts often needing larger initial deposits.

 

Can South African traders deposit funds in ZAR?

Yes, they can. While OnEquity accounts are denominated in USD, EUR, or JPY, South African traders can deposit funds in ZAR via local payment methods such as Swiffy, which may result in currency translation to the account’s base currency.

 

 

 

OnEquity Account Types and Features

 

 

OnEquity Plus Account

 

The Plus Account offered by OnEquity is tailored to cater to novice traders. It requires a modest minimum deposit of 482 ZAR, making it an ideal choice for individuals in South Africa looking to explore opportunities in the Forex and CFD markets.

With a focus on simplicity in trading costs, the account features no commission fees and offers spreads as low as 1.5 pips, enabling users to trade comfortably without incurring excessive expenses.

Among its advantages is access to over 300 financial instruments, providing flexibility for traders.

Additionally, users can utilize both MetaTrader platforms (MT4/MT5), which offer essential support tools and resources. This comprehensive support is particularly beneficial for beginners seeking guidance on enhancing their trading skills efficiently.

 

 

 

OnEquity Prime Account

 

Designed for seasoned traders, the Prime Account requires a minimum deposit of 19,200 ZAR. It boasts tighter spreads from just 0.4 pips and a $5 commission cost – ideal for those seeking greater competitiveness in pricing and trading conditions.

Offering access to an extensive array of trading products akin to the Plus Account, it operates effortlessly with both MetaTrader 4 and MetaTrader 5 platforms capable of advanced techniques.

This account is ideal for South African traders acquainted with market dynamics and eager to improve their trade performance through better circumstances.

 

 

 

OnEquity Elite Account

 

OnEquity’s Elite Account is tailored to proficient traders and individuals handling substantial volumes, mandating a minimum deposit of 96,300 ZAR. This account showcases the most competitive features on OnEquity’s platform.

It presents spreads as low as zero pips and commission costs set at $5. With access to all trading tools available through MetaTrader 4 or MetaTrader 5 platforms, the Elite Account is regarded as the pinnacle offering in OnEquity’s range.

Furthermore, it is ideal for experienced South African traders seeking optimal trading conditions characterized by minimal costs and maximum success rates.

 

 

 

OnEquity Demo Account

 

The Demo Account offered by OnEquity provides traders a secure avenue to test their trading strategies using virtual funds.

While the specific features of the demo account may not always be explicitly disclosed, it effectively replicates real account trading scenarios, providing users with an authentic experience.

This type of account holds significant importance for South African traders. Beginners benefit from access to risk-free learning opportunities, while experienced traders can experiment with new methods before implementing them in live markets.

 

 

OnEquity Islamic Account

 

OnEquity’s Islamic Account caters to the needs of South African traders who abide by Sharia law and require swap-free accounts.

While this account type adheres to standard trading rules, it eliminates overnight position swap costs. This makes it a perfect solution for Muslim traders needing ethical options.  This offering demonstrates OnEquity’s dedication towards inclusivity within the South African trading community.

Furthermore, it ensures that clients can actively trade while remaining true to their religious beliefs with an interest-free approach. This provides them with a respectable choice when engaging in trades.

 

 

Pros and Cons – OnEquity Account Types and Features

 

 

 

What are the primary benefits and distinctions between OnEquity’s multiple account kinds for South Africans?

The primary distinctions between OnEquity’s account types for South Africans include various spreads, fee structures, and minimum deposit requirements, with each account providing unique benefits targeted to particular trading strategies and experience levels.

 

Does OnEquity provide Islamic (swap-free) accounts for South African traders?

Yes, OnEquity offers Islamic swap-free accounts to South African traders who want accounts that follow Sharia law, allowing them to trade without paying swap costs.

 

 

 

OnEquity Base Account Currencies and Basic Order Types

 

The base account currencies available to South Africans include the following:

 

• ✅ USD
• ✅ EUR
• ✅ JPY

 

 

OnEquity Basic Order Types include:

 

• ✅ A market order can be either a buy or a sell order that executes at the current market price. This is the current price displayed on your price chart. If you place a market order, you will be immediately entered at the best available price.
• ✅ Market orders are most effective when a trading opportunity requires prompt action. Click buy/sell at market to enter the trade immediately.
• ✅ A stop order can be either a buy or sell stop, depending on whether you wish to purchase above or below the market.
• ✅ This is useful for trading breakouts or trend continuation strategies when you want the market to continue moving in the same direction.

 

 

Alternatively, if you believe the price will reverse when it reaches a certain price, you can place a limit order.

 

 

How to Open and Close an OnEquity Account

 

To open an account with OnEquity, South Africans can follow these steps:

 

• ✅ South African traders interested in enrolling with OnEquity should begin by visiting the OnEquity website and finding the “Open Account” or “Register” option, which is usually prominently displayed on the homepage.
• ✅ After clicking the registration button, you will be taken to an online form where you must input personal information such as your name, email address, country of residence (South Africa), and establish a secure password for your account.
• ✅ You can pick the base currency for your account during the registration process. You can choose EUR, USD, or JPY, depending on your trading preferences and financial plan. It is worth noting that although the account is denominated in these currencies, South African traders can still deposit funds in ZAR.
• ✅ After picking your preferred base currency, you will be asked to complete a small questionnaire on your trading history and financial understanding. This step is critical for OnEquity to provide services that fit your trading ability level.
• ✅ To meet regulatory requirements, you must upload papers for identity verification and evidence of residency. Acceptable papers include a government-issued ID (passport or driver’s licence) and a recent utility bill or bank statement with your address.
• ✅ Once your papers have been submitted, OnEquity will examine your application. This procedure may take a few days, and you will receive an email with the status of your account approval.
• ✅ After confirming that your account has been approved, log in to your OnEquity account and go to the “Deposit” area. Whether your account is in EUR, USD, or JPY, you can deposit funds in ZAR using various payment options.

 

 

Select your desired deposit method to finish the deposit procedure and follow the on-screen instructions. The money will be changed to your account’s base currency, and you can begin trading on the OnEquity platform.

 

To close a live trading account with OnEquity, South African traders can follow these steps:

 

• ✅ Begin terminating your OnEquity account by connecting to your trading platform using your current credentials and ensuring that any active positions are closed. South African traders should ensure their portfolio is completely liquidated to prevent problems during the account closure procedure.
• ✅ After checking that all positions have been closed, go to the “Account Settings” or a similar part of the trading platform or website that offers account management choices.
• ✅ Look for a “Close Account,” “Account Closure,” or equivalent option in the account settings. If such an option is not immediately accessible, continue to the next step.
• ✅ Prepare an email to send to OnEquity’s customer service or account management staff. In the email, explicitly mention that you intend to terminate your account. Include your account number, name, and other identifying information needed to complete your request.
• ✅ In the email, ask for a confirmation of the account closure procedure and question about any potential needs or measures you may need to do. This might entail completing a specific form or providing further paperwork to confirm your identification and complete the closure.
• ✅ Before sending the email, make sure you have removed any remaining amount from your account. To initiate a financial transfer back to your bank account or chosen payment method, go to your account’s “Withdrawal” section. This step is critical to ensuring you do not leave any funds in the account before closing.
• ✅ After submitting the email to OnEquity’s support staff, wait for a response indicating that they received and are processing your request. The answer should contain any additional steps you need to take or confirmation that your account will be cancelled.

 

 

Once you have received confirmation that your account closure request is being processed, check your email for a final confirmation message saying your account has been successfully closed. This message is your formal notice that your partnership with OnEquity has been ended.

 

 

What documents or information may OnEquity require during the account closing process?

OnEquity could require identity papers and proof of address from South African traders to ensure compliance with local legislation. This might be a South African ID card, passport, driver’s licence, utility bill, or bank statement displaying the trader’s residence address.

 

Does OnEquity impose any costs for terminating an account?

OnEquity normally does not charge fees to close an account. South African traders should, however, study the broker’s terms and conditions to clarify whether or not any costs apply.

 

What information is required during the OnEquity account sign-up procedure for South Africans?

South African traders must supply personal information such as their name, email, phone number, residence address, financial information, and trading experience when registering for an account.

 

What is the initial step in creating an account with OnEquity for South Africans?

South African traders can first visit the OnEquity website and click on the “Open Account” area, where they may start the registration process by entering their personal and financial information.

 

 

 

OnEquity Trading Platforms

 

OnEquity offers South African traders a choice between these trading platforms:

 

• ✅ MetaTrader 4
• ✅ MetaTrader 5

 

 

OnEquity MetaTrader 4

 

MetaTrader 4 (MT4) distinguishes itself with its user-friendly interface and extensive capabilities, catering to traders of all levels.

Moreover, the platform’s compatibility across different devices – a desktop computer or mobile phone – empowers South African traders to observe market trends and make trades from anywhere at any moment.

This feature proves particularly advantageous in the region, where quick responses are critical amidst economic ups and downs or domestic occurrences that influence markets.

Expert Advisors (EAs) on MT4 enable South African traders to implement sophisticated trading approaches without constant manual oversight. This feature has the potential to enhance both trading effectiveness and profitability.

Moreover, through its resilient back-testing environment, this platform enables traders to navigate unpredictable domestic and global markets by refining their strategies based on prior data analysis.

 

 

OnEquity MetaTrader 5

 

By offering advanced financial trading capabilities and an arsenal of analytical tools, MetaTrader 5 (MT5) enhances the trading experience for South African traders.

The platform’s upgraded trade system, coupled with a wider range of technical indicators, grants these traders a greater insight into the intricacies of financial markets – empowering them to make smarter investment decisions.

South African traders have greater control over their transactions with the additional order types and execution modes supported by MT5, which facilitates accurate risk management strategies.

Furthermore, an economic calendar within the platform is advantageous for staying up-to-date on market-moving events – particularly those pertinent to South Africa’s economy.

Moreover, the improved strategy tester of MT5 enables superior optimization of trading robots and strategies. This caters to the complex demands of South African traders aiming for a competitive advantage in domestic and international markets.

 

 

Pros and Cons – OnEquity Trading Platforms

 

 

 

What are the benefits of utilizing MetaTrader 4 (MT4) on OnEquity for South African traders?

MT4 offers access to a vast range of trading instruments, advanced charting tools, and automated trading capabilities, making it suitable for traders of all experience levels, including South African traders.

 

How does MetaTrader 5 (MT5) differ from MetaTrader 4 (MT4) on OnEquity for South African traders?

MT5 builds upon the features of MT4 with additional analytical tools, hedging capabilities, and an improved interface, catering to the evolving needs of modern traders, including those in South Africa.

 

 

 

OnEquity MAM / PAMM Features

 

The PAMM technology by OnEquity offers a unique investment solution to South African clients seeking the expertise of seasoned fund managers.

The platform allows investors to merge their funds and entrust them with an experienced manager who trades on their behalf, aiming for potential profits or losses equitably distributed among all investors based on their share in the pool.

This technique could hold tremendous appeal for those who lack the time, expertise, or self-assurance to engage in trading themselves yet yearn for a slice of the financial market action.

OnEquity has brilliantly integrated its PAMM service with both MetaTrader 4 and MetaTrader 5 platforms, ensuring hassle-free trading encounters that are beyond smooth.

OnEquity’s commitment to providing versatile and varied trading solutions, catering to the distinctive needs of South African traders, is evident.

They offer the option to invest in proficient peers or take on the role of PAMM Managers themselves, accruing extra income by overseeing funds belonging to other investors.

 

 

What are the advantages of engaging in OnEquity’s MAM/PAMM trading?

South African investors might make profits without actively trading by relying on the experience of professional fund managers. This passive investing strategy enables diversification and possible profit production.

 

Can traders become fund managers using OnEquity’s MAM/PAMM system?

Yes, OnEquity enables experienced South African traders to become fund managers in the MAM/PAMM system, overseeing several investor accounts from a single interface.

 

 

 

Social Trading with OnEquity

 

OnEquity empowers South African traders to benefit from a shared trading atmosphere by offering an interactive social trading platform. With this feature in place, individuals can instantly simulate seasoned professionals’ trades – opening doors for effective learning and growth opportunities.

For beginners diving into the world of trade markets, OnEquity’s setup is particularly beneficial as it offers valuable insights on replicating proven strategies; promoting accelerated progress along their journey.

Users can easily monitor and replicate their favorite experts’ trading actions without switching platforms thanks to the platform’s integration with MetaTrader 4 and MetaTrader 5.

Additionally, seasoned traders can generate supplementary income by sharing their insights and enabling others to mirror their trades, creating a situation that benefits all parties involved.

This novel trading method generates a feeling of community and shared achievement, making it an appealing alternative for South African traders seeking to broaden their trading skills and network in a friendly and dynamic atmosphere.

 

 

How does social trading operate on OnEquity?

South African traders may use OnEquity’s social trading platform to follow and mimic the trades of experienced professionals, allowing them to gain from their knowledge and perhaps imitate their success.

 

Does OnEquity provide sophisticated features for social trading?

Yes, OnEquity’s platform enables various copying types, including equity-based, free margin, and multiplication copying, giving South African traders greater flexibility and customization choices depending on their preferences and aims.

 

 

 

Which Markets Can You Trade with OnEquity?

 

South African traders can expect the following range of markets from OnEquity:

 

• ✅ Forex
• ✅ Energies
• ✅ Indices
• ✅ Stocks
• ✅ Metals
• ✅ Commodities
• ✅ Cryptocurrencies

 

 

Financial Instruments and Leverage offered by OnEquity

 

 

Broker Comparison for a Range of Markets

 

 

Pros and Cons – OnEquity Range of Markets

 

 

 

Does OnEquity provide trading options for commodities for South African traders?

Yes, OnEquity allows South African traders to speculate on commodities like gold, silver, crude oil, natural gas, and agricultural products through CFD trading.

 

Are stock trading opportunities available on OnEquity’s platform for South African traders?

Yes, South African traders can access a wide selection of stocks from global markets, enabling them to trade popular stocks like Apple, Google, Amazon, and more through OnEquity’s platform.

 

 

 

OnEquity Fees, Spreads, and Commissions

 

OnEquity Spreads

 

When using OnEquity, South African traders will encounter spreads as their primary trading cost.

The average spread for the USD/ZAR pair is 79.2 pips with a minimum of 15.2 pips – indicating significant expenses when dealing specifically in this currency pairing and particularly impacting those who speculate on the Rand vs US dollar exchange rate.

As such, high spreads ultimately lead to inflated costs, timing, and market conditions are more significant when attempting trades within volatile pairs like these.

Furthermore, failing to consider potential fees may reduce overall profitability, making it essential that traders plan transactions around them accordingly.

 

OnEquity Commissions

 

Fees are applied by OnEquity to specific account categories, specifically Prime and Elite accounts. Traders utilizing these account types should anticipate a $5 commission fee to balance the reduced spreads offered on those accounts.

It is important for South African traders trading higher volumes to factor in these commissions when estimating their potential trading costs, as they can quickly accumulate over time.

 

OnEquity Overnight Fees

 

Traders in South Africa face an added concern of overnight expenses. OnEquity imposes a fee of -212.42 for short trading and 85.22 for long swaps, which are applied when transactions remain open beyond the business day and cover transaction maintenance costs.

The significant difference between these rates highlights how holding positions either way over extended periods impacts overall trade profits, particularly with strategies involving lengthy holding durations.

 

OnEquity Deposit and Withdrawal Fees

 

As a low-cost fund management option, OnEquity stands out by eliminating deposit and withdrawal fees. South African traders can reap the benefits of this strategy as they freely transfer their funds to and from trading accounts without being burdened with extra charges.

This practice ensures efficient funds management, maximizing investment potential whilst preventing unnecessary deductions that could lower profits.

 

OnEquity Inactivity Fees

 

Traders must be cautious of OnEquity’s inactivity fees, which apply to accounts that have not engaged in trades over 12 months. These charges encourage traders to remain active or close their accounts if they choose not to trade anymore.

South African traders should keep this information at the forefront of their minds- particularly when planning time away from trading – as it could lead to an unnecessary financial burden.

 

OnEquity Currency Conversion Fees

 

South African traders should pay attention to currency conversion expenses, especially since OnEquity offers accounts denominated in USD, EUR, and JPY.

If they deposit or withdraw funds using ZAR as their local currency, there could be extra charges due to differences between base currencies. The amount of these fees depends on market rates and the bank used for conversion.

Therefore, to maintain profitability while managing funds effectively, traders must keep possible costs from frequent conversions in mind that can adversely affect net gains over time.

 

 

Pros and Cons – OnEquity Trading and Non-Trading Fees

 

 

 

What are the typical spreads charged by OnEquity for forex trading for South African traders?

OnEquity charges competitive spreads on forex pairs for South African traders, with spreads starting as low as 15.9 pips on USD/ZAR.

 

Does OnEquity impose any overnight financing charges for holding positions overnight for South African traders?

Yes, OnEquity will apply overnight financing charges to positions over 24 hours.

 

 

 

OnEquity Deposits and Withdrawals

 

OnEquity offers South African traders the following deposit and withdrawal methods:

 

• ✅ Credit/Debit Card
• ✅ Bank Wire Transfer
• ✅ Skrill
• ✅ Neteller
• ✅ FairPay
• ✅ Payretailers
• ✅ PaymentAsia
• ✅ Epay
• ✅ Help2Pay
• ✅ Perfect Money

 

 

and many, MANY more!

 

 

How to make a Deposit with OnEquity

 

To deposit funds to an account with OnEquity, South African traders can follow these steps:

 

• ✅ Begin by logging into your OnEquity trading account with your security credentials.
• ✅ Navigate to the ‘Deposit‘ area or the account management settings on your account dashboard.
• ✅ Choose ‘ZAR‘ as your deposit currency from the available currency options to guarantee your money is placed in the South African Rand.
• ✅ Select your desired deposit method from the options provided by OnEquity. Swiffy, for example, caters to South African banking tastes and provides a simple transaction experience.
• ✅ Enter the amount you want to deposit in ZAR, ensuring it matches the minimum deposit criteria provided by OnEquity for South African traders.
• ✅ Check your deposit information for completeness, then confirm and complete your deposit transaction by following any extra instructions provided by the payment gateway or OnEquity.

 

 

Wait for confirmation from OnEquity that your deposit was properly completed and the funds were deposited to your trading account.

 

 

How long do OnEquity Deposits take?

Deposits made using local South African techniques like Swiffy are intended to be convenient and efficient. Typically, Swiffy deposits are completed quickly, allowing traders to see their funds reflected in their OnEquity accounts practically immediately or within a few minutes.

Swiffy’s quick processing time guarantees that South African traders may capitalize on trading opportunities without major delays, making it an appealing alternative for financing OnEquity accounts.

The rapid and simple deposit process and the prompt availability of funds improve South Africans’ trading experience on the OnEquity platform.

 

Is there a minimum deposit requirement for funding a trading account with OnEquity for South African traders?

Yes, OnEquity has minimum deposit requirements for South African traders, starting from 482 ZAR on the Plus Account.

 

What payment methods are available for making deposits with OnEquity for South African traders?

South Africans can choose from several payment methods, including Swiffy for ZAR deposits.

 

 

 

 

How to Withdraw from OnEquity

 

To withdraw funds from an account with OnEquity, South African traders can follow these steps:

 

• ✅ Log in to your OnEquity trading account using your username and password to begin the withdrawal procedure.
• ✅ Navigate to your account dashboard’s ‘Withdrawal‘ area, often found under account management or banking choices.
• ✅ Select ‘ZAR‘ as your withdrawal currency to guarantee that your money is withdrawn in South African Rand, allowing for a simple transaction without needing currency conversion.
• ✅ Select your desired withdrawal method. Swiffy is suggested to South African traders because of its local relevance and interoperability with South African bank accounts.
• ✅ Enter the amount of ZAR you want to withdraw, ensuring it is within OnEquity’s minimum and maximum withdrawal limitations.
• ✅ Confirm the details of your withdrawal request. This may entail validating your account information and confirming that all required withdrawal documentation has been filed and authorized by OnEquity.
• ✅ Submit a withdrawal request. To complete the transaction, you may be required to complete further security verifications, such as entering a one-time password (OTP) or answering questions.

 

 

Wait for confirmation from OnEquity that your withdrawal request was received and is being handled.

 

 

How long do OnEquity Withdrawals take?

Swiffy withdrawals for South African traders on OnEquity are quick and easy. Withdrawal processing times vary, but Swiffy strives to make transactions as swift as possible, with funds often reaching your bank account within a few hours to one business day.

This faster withdrawal process benefits South African traders who need quick access to their assets, whether for reinvestment or personal usage.

Swiffy’s local integration and OnEquity’s expedited withdrawal procedures allow South African traders to handle their funds effectively, with little delays and fuss.

 

Is there a minimum withdrawal amount for processing withdrawal requests with OnEquity for South African traders?

Yes, OnEquity may impose minimum withdrawal amounts for certain withdrawal methods for South African traders, ensuring efficient processing and cost-effectiveness.

 

Can South African traders withdraw funds in multiple currencies with OnEquity?

Yes, OnEquity allows South African traders to withdraw funds in various currencies, including ZAR when using Swiffy.

 

 

 

OnEquity Deposit Currencies, Deposit and Withdrawal Processing Times

 

 

Broker Comparison – Deposit and Withdrawals

 

 

Pros and Cons – OnEquity Deposits and Withdrawals

 

 

 

Does OnEquity charge any deposit fees for funding a trading account for South African traders?

OnEquity does not impose any deposit fees for funding a trading account for South African traders, allowing them to deposit funds without incurring additional costs.

 

Can South African traders deposit funds in different currencies with OnEquity?

Yes, OnEquity allows South African traders to deposit funds in multiple currencies, providing conversion services for deposits made in currencies other than the account’s base currency.

 

 

 

OnEquity Customer Support

 

 

Pros and Cons – OnEquity Customer Support

 

 

 

Does OnEquity offer live chat support for South African traders?

Yes, OnEquity offers live chat support as one of its communication channels for South African traders. However, this function seems unavailable as it only reloads the Support page when selected.

 

How long does it typically take for OnEquity to respond to emails during market hours for South African traders?

OnEquity aims to respond to emails from South African traders within 24 hours during market hours to ensure timely assistance and support.

 

 

 

OnEquity Cashback Rebates Features and Conditions

 

OnEquity’s Cashback Rebates program is an appealing incentive for South African traders, allowing them to earn rebates on their transactions, greatly lowering the cost of trading.  This program is designed to reward traders by returning a percentage of the spread or commission to their account based on the number of transactions executed.

The Cashback Rebates program’s terms and conditions are transparent, ensuring traders understand how to qualify and what they can expect to earn in exchange for their trading activities.  The rebate amount varies depending on the account type and the products traded, giving traders flexibility and possibilities to maximize their gains.

This feature particularly appeals to active traders with high trading volumes since it directly increases profitability by offsetting some trading costs.

 

 

Does OnEquity offer cashback rebates to traders from South Africa?

Yes, OnEquity provides cashback rebates through its Introducing Brokers (IB) program for traders from South Africa, allowing them to earn additional income based on their trading activities.

 

What is the Introducing Brokers (IB) program offered by OnEquity for South Africans?

OnEquity’s IB program enables individuals from South Africa to act as intermediaries between new traders and the broker, earning commissions for referring clients and facilitating their onboarding process.

 

 

 

OnEquity Trading Signals

 

OnEquity’s innovative approach to trading signals involves integration with the MetaTrader 4 and MetaTrader 5 platforms, providing South African traders the opportunity for social trading and signal sharing.

By replicating real-time transactions of seasoned professionals, this tool facilitates a learning environment that allows less experienced traders to profit from established techniques.

Although OnEquity is not directly involved in generating traditional trading signals, its social trading feature presents a unique and interactive opportunity for South African traders to emulate successful investment strategies.

This approach benefits novice traders or those looking to diversify their investments without undertaking extensive market research. This practical method fosters enhanced trade outcomes by leveraging community insight and concepts.

 

 

Can South African traders seamlessly transition between trading platforms using OnEquity’s signal-sharing feature?

Yes, OnEquity allows South African traders to seamlessly transition between MetaTrader 4 (MT4) and MetaTrader 5 (MT5), ensuring flexibility and convenience in accessing and replicating trading signals.

 

Are different modes of copying trades available on OnEquity’s platform for South African traders?

Yes, OnEquity offers various copying modes such as equity-based copying, free margin copying, and multiplication copying for South African traders, providing flexibility in selecting the most suitable method for their trading goals.

 

 

 

OnEquity Geographic Reach and Limitations

 

OnEquity is currently expanding globally.

 

Countries not accepted by OnEquity

 

OnEquity does not accept traders from these regions:

 

• ✅ United States
• ✅ Canada
• ✅ North Korea
• ✅ Yemen
• ✅ Iran
• ✅ Belgium
• ✅ Syria

 

 

Popularity among South African traders who choose OnEquity

 

OnEquity is a fairly new broker and ranks among South Africans’ top 2,000 forex and CFD brokers.

 

OnEquity Best Countries by Traders

 

🌎 Country	📊 Market Share
🥇 Brazil	62.48%
🥈 Portugal	5.82%
🥉 Angola	3.67%
🏅 Venezuela	2.69%

 

OnEquity Web Traffic Report

 

🌎 Global Rank	354,656
📌 Country Rank	33,597
📍 Total Visits	108.1K
📈 Bounce Rate	40.69%
📉 Pages per Visit	6.57
📊 Average Duration of Visit	00:05:04

 

 

Are there specific regions where OnEquity has a large presence, such as South Africa?

OnEquity has a large presence in South Africa, providing personalized services and assistance to satisfy the unique demands of South African traders, among other locations.

 

Does OnEquity provide localized payment solutions for South African traders?

Yes, OnEquity supports Swiffy, allowing South Africans to deposit and withdraw in ZAR.

 

 

 

OnEquity vs FP Markets vs JustMarkets – A Comparison

 

 

 

OnEquity Alternatives

 

 

🥇 Exness

Exness provides South African traders with low spreads and commission-free trading on key currency pairs. Their systems are user-friendly and provide powerful charting features. Furthermore, they have a South African office for localized service and follow FSCA laws, creating a sense of security.

 

 

🥈 Forex.com

Forex.com offers a wide selection of assets other than forex, such as stocks, commodities, and indices, making it excellent for portfolio diversification. They provide great educational resources, ideal for South African traders wishing to expand their expertise. Their platforms include various research and analytical tools to help you make better trading selections.

 

 

🥉 XM

XM has extremely low minimum deposit requirements, making it accessible to inexperienced South African traders. They provide several account kinds to meet varying demands. Their emphasis on customer service, with 24-hour availability, adds an added layer of aid while navigating the markets.

 

 

 

Our Experience with OnEquity

 

Our experience with OnEquity as South African traders has been diverse, highlighting both the platform’s strengths and opportunities for growth.

On the plus side, OnEquity’s minimal minimum deposit requirement and the ability to trade in ZAR via Swiffy greatly reduce entry barriers and ease transactions for local traders.  However, the platform’s spreads, particularly for the USD/ZAR pair, could be fairly large, possibly hurting profitability.

While the FSCA regulation instills trust in the platform’s dependability, the lack of 24-hour customer service might disadvantage traders who work outside normal market hours or want instant help.

 

OnEquity Trading Platform

 

The OnEquity trading platform, notably its connection with MetaTrader 4 and MetaTrader 5, provides South African traders with a reliable and adaptable trading environment.

The platforms’ comprehensive tools and features cater to various trading methods, from novices to professional traders. The use of automated trading using Expert Advisors improves trading efficiency and effectiveness. However, the lack of a proprietary platform may impede traders who prefer a more personalized trading experience.

Furthermore, navigating the platform and realizing its full potential may necessitate a learning curve for beginners, emphasizing expanded instructional offerings.

 

Quality of Customer Service

 

In our experience, OnEquity’s customer service to South African traders has both noteworthy and areas that might be improved.

The multilingual support and the availability of local payment options such as Swiffy demonstrate OnEquity’s dedication to meeting the unique demands of South African traders. Responses are often rapid and helpful, resulting in a pleasant user experience.

However, the lack of 24-hour support presents complications, particularly for traders who may have problems or seek assistance during off-hours. This constraint needs organization and patience since traders may have to wait until the following business day to settle their questions or complaints.

 

 

Recommendations according to our in-depth review of OnEquity

 

Our recommendations according to an in-depth review of OnEquity:

 

• ✅ Adding ZAR as an account-based currency choice will remove currency conversion costs and make financial transactions easier for South African traders.
• ✅ Introducing targeted bonuses and promotions for South African traders might increase the platform’s appeal and encourage trading activity.
• ✅ Creating a complete set of teaching resources and tools would aid new traders by allowing them to understand the markets better.
• ✅ Providing more information and resources geared especially to the South African market, such as local economic news and analysis, would be extremely valuable.
• ✅ OnEquity could deliver more competitive spreads to improve trader cost-efficiency, particularly on popular pairings such as USD/ZAR.
• ✅ 24/7 customer support will dramatically improve the trading experience by providing rapid assistance.

 

 

While OnEquity gives access to MetaTrader platforms, developing a proprietary mobile app with sophisticated capabilities might result in a more personalized trading experience.

 

 

OnEquity User Reviews

 

 

🥇 Great Choice!

Without question, OnEquity is one of the leading brokers in the market. Their focus on narrow spreads, swift execution, and, most importantly, prompt withdrawals distinguishes them from the competitors. – Chloe Steenkamp

 

 

🥈 Amazing!

OnEquity’s amazing performance has pleased me. Their honesty and response are exceptional, with clear communication at all times. The support team’s efficiency is extremely impressive. – Isabella Blake

 

 

🥉 Excellent.

My experience with OnEquity brokerage has been nothing short of excellent. Working as a home broker on the MetaTrader 5 platform has been simple and lucrative. – Daniel Botha

 

 

OnEquity Pros and Cons

 

✅ Pros	❎ Cons
OnEquity facilitates ZAR deposits and withdrawals via Swiffy	Customer service is not available 24/7, which may be inconvenient for traders who want to trade on weekends or require assistance outside of typical market hours
Social trading capabilities of the platform enable South African traders to interact with and gain knowledge from a global community	There are inactivity fees charged after 12 months of account dormancy
OnEquity offers South African traders the ability to engage in transactions involving an extensive range of international and domestic market instruments	OnEquity does not provide beginners with a dedicated education section on the website
South African traders enjoy the peace of mind that comes with OnEquity being regulated by the Financial Sector Conduct Authority	The base account currencies are limited, and OnEquity does not offer ZAR-denominated accounts
The provision of MetaTrader 4 and 5 enables the utilisation of sophisticated trading functionalities	Due to the lack of a proprietary trading platform, MetaTrader platforms are the only option available to South African traders
South Africans do not pay any deposit or withdrawal fees with OnEquity	Although high leverage presents the possibility of substantial profits, it also entails heightened risk

 

 

In Conclusion

 

According to our findings, OnEquity is an appealing choice for South African traders, providing access to a diverse selection of financial products via the strong MetaTrader platforms.

Furthermore, Swiffy’s minimal minimum deposit requirement and support for ZAR transactions make it a convenient and enticing option. The platform’s adherence to FSCA laws increases its reputation and reliability among local traders.

However, in our experience, the wide spreads on certain pairings, like USD/ZAR, and the lack of 24-hour customer service are significant downsides that may affect the trading experience.

The creative approach to social trading and signal sharing creates a lively trading environment, although the platform might benefit from more instructional tools for novices.

Overall, we can conclude that OnEquity stands out for its complete trading solutions. Still, there is an opportunity for growth in areas where it can better connect its services with the demands of South African traders.

 

 

OnEquity Risk Warning and Disclaimer for traders:  Trading forex on platforms such as OnEquity carries high risks and is inappropriate for all investors. The great degree of leverage might work for or against you. Before selecting to trade forex, examine your investing goals, degree of expertise, and risk tolerance.  You could lose part or all of your initial investment, so do not invest money you cannot afford to lose. Therefore, be aware of all the risks involved with forex trading, and get counsel from an independent financial advisor if you have any concerns.

 

 

Our Review Methodology:  For each of our broker evaluations, we investigate, evaluate, analyze, and compare what we feel to be the most crucial criteria to consider when selecting a broker.  Based on our findings, this evaluation comprises positives, disadvantages, and an overall score. We want to assist you in locating the ideal broker for your requirements.  Our broker review should not be considered financial advice. However, traders are urged to seek professional financial advice before making investment decisions.

 

 

Addendum/Disclosure:  No matter how diligently we strive to maintain accuracy, the forex market is volatile and may change anytime, even if the information supplied is correct when going live.

 

 

Investor Warning: Foreign currency trading on margin is associated with an elevated risk and may not be appropriate for all investors.   Before engaging in foreign currency or Contract for Difference (CFD) trading, you must evaluate your investing goals, expertise, appetite for risk, and willingness to be exposed to risk. In addition, you should not start investing capital you cannot afford to lose because you could lose part of your original investment.

 

 

Frequently Asked Questions

 

What minimum deposit is required to start trading with OnEquity in South Africa?

The minimum deposit necessary to begin trading with OnEquity for South African traders is 482 ZAR for a Plus Account.

 

Is OnEquity regulated in South Africa?

Yes, OnEquity is regulated by the Financial Sector Conduct Authority (FSCA) in South Africa, ensuring it follows local financial legislation and standards.

 

Does OnEquity have Nasdaq 100?

Yes, South Africans can trade Nasdaq 100 shares and this popular index as a CFD under “US100.”

 

What types of accounts does OnEquity offer to South African traders?

OnEquity provides South African traders with three primary categories of accounts: Plus, Prime, and Elite, each catering to varying degrees of trading expertise and investment.

 

Is OnEquity Safe or a Scam?

Yes, OnEquity is a safe option for South Africans due to its FSCA regulations.

 

Can South Africans trade with ZAR on OnEquity?

While OnEquity accounts are denominated in USD, EUR, or JPY, South African traders can deposit and withdraw funds in ZAR via local payment methods such as Swiffy, which may result in currency conversion.

 

Is OnEquity regulated?

Yes, OnEquity is regulated in Seychelles (FSA) and South Africa (FSCA).

 

Are there any deposit or withdrawal fees for South African traders on OnEquity?

No, OnEquity does not impose any deposit or withdrawal fees. However, South African traders should know that currency conversion costs may apply when trading in ZAR.

 

How long does it take to withdraw from OnEquity?

Withdrawals can be instant or take a few days, depending on the withdrawal method. However, local methods like Swiffy take 30 minutes for deposits and withdrawals.

 

Does OnEquity offer MetaTrader platforms to South African traders?

Yes, OnEquity provides South African traders with access to the MetaTrader 4 and MetaTrader 5 platforms and a variety of trading products and tools.

 

Does OnEquity have VIX 75?

No, VIX 75 is not available with OnEquity.

 

Can South African traders participate in social trading on OnEquity?

Yes, South African traders can easily engage in social trading on OnEquity, which allows them to duplicate experienced traders’ transactions directly via the MetaTrader platforms.