EQUITY TS Review

FXCanary’s review of EQUITY TS is built on a systematic cross‑check of public registers, real‑user feedback, and the broker’s own disclosures. We verified the ASIC license number 477891 against the Australian Securities and Investments Commission’s official registry to confirm its existence and current status. We also analyzed 19 Trustpilot reviews and a collection of trader comments across industry databases to paint an accurate picture of client experiences.

Our editorial team examined the company’s legal structure, address, and employment data, noting that EQUITY TS PTY LTD lists zero employees—a red flag often associated with shell or virtual‑office operations. We have not taken the broker’s claims at face value; instead, we weighted every piece of evidence to arrive at our elevated Scam Risk Score of 50 out of 100.

EQUITY TS PTY LTD was registered on 27 August 2025, making it a very young entity with barely any operational history. Its registered address is Level 16, 1 Collins Street, Melbourne, VIC 3000—a prestigious location that is frequently used by serviced‑office providers. The fact that the company declares zero employees suggests that it may be a shell company or a micro‑operation with no substantial staff in Australia.

A new broker with no track record and no visible workforce raises immediate concerns about governance, oversight, and accountability. Even if the ASIC license is valid, a license holder with no employees might outsource all critical functions to unregulated third parties, leaving traders with little recourse in the event of a dispute. The absence of any prior financial statements or public business activity makes it impossible to assess the firm’s financial health or stability.

EQUITY TS holds an Australian Derivatives Trading License (STP) under number 477891, which we confirmed in the ASIC register. In Australia, a derivatives license allows the holder to advise on and deal in derivatives, but it does not automatically provide the same level of retail client protection as a full Australian Financial Services (AFS) license for securities. Specifically, the ASIC regulatory framework for derivatives dealers does not mandate participation in an external dispute resolution scheme for all types of clients, and client money rules may be less stringent than for mainstream forex brokers.

Moreover, the STP classification indicates that the firm operates a straight‑through‑processing model, theoretically sending client orders directly to liquidity providers. However, given the prop‑firm nature suggested by user reviews, it is unclear whether EQUITY TS is actually operating as a traditional broker or as a proprietary trading challenge platform. Prop firms that only simulate trading or manage internal capital pools often fall outside the scope of retail investor protection, leaving clients exposed if the firm denies payouts.

We also note that the license was not flagged as suspended or cancelled at the time of review, but ASIC’s register is not always updated in real time. Traders should independently verify the license and read any conditions attached to it before depositing funds.

EQUITY TS offers eight account tiers, a structure more reminiscent of a prop‑trading challenge than a conventional brokerage. The Standard account has a €100 minimum deposit and allows trading in forex and crypto only, with a 9% commission and maximum leverage of 1:10. The Standard+ tier demands €5,000, adds commodities, and cuts commission to 8%. These commissions are charged per trade and represent a significant cost, especially for high‑frequency strategies.

Moving up, the Silver (€20,000) and Gold (€50,000) accounts introduce company stocks, leverage of 1:20 and 1:50, and commissions of 7% and 6% respectively. Premium Elite (€100,000) and Platinum (€250,000) offer a 5% commission, while the VIP (€500,000) tier keeps commission undisclosed. No account tier publishes its spread—a critical gap that prevents traders from calculating total trading costs.

The minimum deposit progression and commission reductions point to a model where the broker profits primarily from trading fees rather than the bid‑ask spread. Such a structure is common in funded trader programs, where participants pay a fee to prove their skills and then share profits. However, the lack of clarity on whether these accounts are for actual live trading or simulated challenges is a serious concern. Additionally, the absence of spread data suggests that costs could be far higher than the commission suggests, as the broker may be marking up prices internally.

EQUITY TS does not disclose its deposit or withdrawal methods. We could find no details on supported payment systems, processing times, or minimum/maximum withdrawal amounts. For a legitimate broker, such information is a basic transparency requirement, and its absence is a red flag.

The real‑user reviews amplify this concern dramatically. Of the 19 Trustpilot reviews, the overriding complaint is withdrawal denial. One reviewer states: “Ever since I asked for my cash, it’s been silence. Support’s been nonchalant … They delay payments until 𝕣𝕖𝕥𝕣 iev 𝚒𝚜𝚝𝚊 intervened.” Another writes: “Alot of cases they not pay the profit and give alot of reason to not allowed withdrawal profit only your capital.” Another calls it a “cheating prop firm they didn't give any payout if you have followed every rules also they will deny the payout and they will close the and block from their site.”

These accounts are not isolated; they describe a systematic refusal to honour withdrawal requests, often after traders have complied with stated rules. The pattern strongly suggests that the firm may be operating a scheme where profits are systematically denied, making it impossible for clients to realise gains. One withdrawal‑related complaint is recorded in our industry database, further corroborating the pattern.

According to the broker’s account breakdown, clients can trade currency pairs, cryptocurrencies, commodities, raw materials, and company stocks, with higher tiers unlocking more instruments. However, the exact number of assets, the liquidity providers, and the trading conditions are not specified. For a firm that markets to high‑net‑worth individuals, this level of opacity is unacceptable.

Even more concerning is the total lack of information on the trading platform. EQUITY TS makes no mention of MetaTrader, cTrader, or any proprietary platform. In our research, we could not verify whether clients trade on a simulated environment or a live market. Without a known platform, traders cannot independently verify price feeds, execution quality, or even that their orders are being sent to a real market. This is a critical missing piece that makes it impossible to assess the broker’s operational integrity.

The only fee that EQUITY TS openly quantifies is the commission rate per account tier, which ranges from 9% for Standard to 5% for Platinum and Premium Elite. These are unusually high for a retail forex broker and more akin to profit‑share arrangements in prop trading. No spread, swap, or inactivity fee data is provided.

The lack of spread disclosure means the total cost of a trade could be multiples of the commission. For example, a forex trade on the Standard account with a 9% commission and an undisclosed spread could easily incur double‑digit percentage costs per round turn, making consistent profitability nearly impossible. In effect, the fee structure appears designed to generate revenue from entry fees and trading costs rather than from legitimate brokerage services.

FXCanary sifted through the 19 Trustpilot reviews and additional industry feedback to understand the genuine user experience. The overall Trustpilot rating of 2.4 out of 5 reflects a deeply unsatisfied client base, with the majority of low scores tied to withdrawal problems and scam allegations.

On the positive side, 5 out of 8 customer‑support reviews praise the service. One user writes: “Their customer service is really good. I was assisted by Caleb, he helped me to know how to buy an account. He made it simple which am really pleased with.” Another says: “Great good assistant & they solve problems fast politely @Miracle.” These comments suggest that the sales and onboarding process is smooth and that support staff are responsive—at least until money is at stake.

However, the negative reviews paint a starkly different picture. Two reviews explicitly call the firm a scam, with one saying: “It is a scam. My friend lost all his money. Dont fall for it.” The withdrawal complaints are consistent and damning: “This is an cheating prop firm they didn't give any payout if you have followed every rules also they will deny the payout and they will close the and block from their site.” Another states: “Ever since I asked for my cash, it’s been silence.” One user who tried to deactivate his account and stop emails reports that the requests were ignored for weeks.

This pattern—responsive until you try to withdraw—is a classic hallmark of fraudulent operations. While the small number of positive support reviews may be genuine or might be incentivised, the weight of evidence from real users points to a systematic failure to pay out profits. No verifiable user has reported a successful withdrawal of profits, which is a catastrophic sign for any trading firm.

When compared to established, regulated Australian brokers, EQUITY TS falls far short of industry norms. Reputable brokers provide transparent fee schedules, disclose spread ranges, and publish withdrawal methods. Many also offer investor protection under an external dispute resolution scheme such as AFCA. EQUITY TS, by contrast, hides critical information and has generated a volume of withdrawal complaints disproportionate to its tiny user base.

Our Scam Risk Score of 50/100 (Elevated) is based on several high‑risk indicators: a newly formed company with no employees, an ASIC license that does not guarantee retail client protections, opaque trading conditions, and a string of credible withdrawal denial reports. While the score is not at the extreme “Scam” end of our scale, it is firmly in the “Elevated Risk” category, meaning traders should treat any engagement with the firm as highly speculative and likely to result in financial loss.

Having cross‑checked regulatory filings, analysed the real‑user review record, and assessed the broker’s own disclosures, FXCanary cannot recommend EQUITY TS to any category of trader. The parade of withdrawal complaints, the lack of transparency on costs and platforms, and the highly unusual account structure all point to a high‑risk setup where client profits are unlikely to be honoured.

While it is possible that a small number of traders have had positive interactions with support, these do not outweigh the systemic red flags. The ASIC license, while real, does not provide the robust safety net that retail investors might assume. Moreover, the possibility that the firm is operating a prop‑trading challenge rather than a true brokerage further diminishes any prospect of external recourse.

Our practical advice: if you are considering trading with EQUITY TS, do not deposit more than you can afford to lose entirely. Verify the license on ASIC’s website, demand written clarification on how client funds are held, and test the withdrawal process with a minimal amount before committing significant capital. If you have already deposited and are facing withdrawal issues, gather all communication and consider lodging a complaint with ASIC or a financial ombudsman, though success is far from guaranteed given the firm’s likely offshore operational structure. In the current climate, the safest course is to avoid EQUITY TS altogether.