EGM Securities Review

EGM Securities is a global broker offering trading services in forex, shares, indices, and commodities. Clients benefit from the award-winning MetaTrader 4 (MT4) desktop platform and mobile app. Our EGM Securities review details their trading fees, leverage, demo account, and more.

Find out whether to register for an EGM Securities account today.

EGM Securities Overview

The company has branches all over the world to meet different regulatory demands and client needs. Equiti Group Limited Jordan is regulated by the Jordan Securities Commission while Equiti Capital UK Limited is licensed by the Financial Conduct Authority.

EGM Futures is regulated in the UAE by the Dubai Multi Commodities Centre.

The company’s 300 staff can be found in offices across the world, from London to Florida.

Trading Platforms

EGM Securities offers a downloadable trading platform from MetaQuotes – MetaTrader 4 (MT4), plus a web-accessible proprietary interface – Equiti EQ Trader.

Metatrader 4

Metatrader 4 (MT4) has become the gold standard for forex and CFD trading, providing an intuitive environment for newcomers and experienced traders alike. As well to deep trading histories, clients get 30 advanced charting tools, 50 technical indicators, nine timeframes, plus automated trading capabilities through Expert Advisors (EAs).

EGM Securities EQ Trader

EGM Securities EQ Trader is a web-enabled platform so no download is required. Six charting types are available, along with nine timeframes, 25 analysis tools, and 48 indicators, plus a creation wizard for custom indicators. The platform is available in six time zones and facilitates trading in forex, commodities, stocks, indices, and precious metals, with a favorite function. The web trader platform also comes with standard risk management tools, such as stop losses and take profits.

Assets

Over 170 tradeable instruments are available, including shares from the UK, EU, and US markets, totaling 115 companies. There are also 15 global stock indices, eight commodities, including energies and precious metals, plus over 60 forex pairs.

Although a decent range of products, the addition of cryptocurrencies would be welcome.

Spreads & Commissions

Spreads with EGM are competitive, especially for the Premier account, which has spread from 0.2 pips for major pairs. The Executive account spreads are typically between 1.6 and 2 pips for the same pairs.

EGM Securities also charges commissions on trades, though only for Premiere accounts. Commission rates are charged at $70 per $1 million for forex pairs and $7 per standard lot on precious metals. All other instruments are commission-free.

Rollovers are charged on positions held past 20:45 GMT. These swaps are variable, changing with the instrument and market. Accounts that are inactive for 180 days are charged a monthly fee.

Leverage

EGM Securities works on a fixed leverage scheme with a maximum level of 1:500 available for major and minor forex pairs. Exotic pairs can access one-tenth of the leverage rates of other pairs and shares are further reduced, with rates on the US shares up to 1:20 and UK & EU shares up to 1:10.

Mobile Apps

EGM Securities offers a mobile app for trading on the go. The app is compatible with iOS and Android devices and has almost all the capabilities of the desktop version, though with fewer customization options and analysis tools. There is, however, real-time market news, notifications, and one-touch trading. Your desktop login credentials should work on the mobile app.

Payment Methods

Accounts can be funded by bank wire transfers, payment cards, Neteller, Mpesa, PesaLink, and Skrill. Bank transfers take one to three working days to be processed while other methods take one day. There is no minimum deposit for wire transfers, but other options have a $30 minimum limit. It should be noted, however, that the first deposit must be a minimum of $500. No fees are charged for deposits.

Withdrawals can be made through all the same methods, though fees are charged on all options except payment cards. Neteller and Skrill withdrawals are processed within one working day, but wire transfers can take three to five days and payment cards between five and 14 working days.

Demo Account

EGM offers a demo account for new clients to get to grips with forex trading, the broker, and the trading platforms. Funded with simulated money in a real-time market, there is no risk to personal capital and accounts can be used to explore strategies and experiment with new charting or analysis techniques.

Deals & Promotions

At the time of writing, there are no welcome bonuses or promotions offered by EGM Securities. However, this may change, so check the broker’s website here before you create an account.

Regulatory Status

EGM Securities is licensed by the Jordan Securities Commission (JSC). Equiti Capital UK Ltd is licensed by the UK Financial Conduct Authority (FCA) and is authorized to provide services within the European Economic Area (EEA). EGM Futures DMCC is licensed by the Dubai Multi Commodities Centre (DMCC) and regulated by the Securities and Commodities Authority (SCA). EGM Securities Ltd. is licensed in Kenya by the Capital Markets Authority (CMA) to provide services in Africa. Finally, Equiti AM CJSC is licensed by the Central Bank of Armenia.

Overall, EGM Securities is a legitimate broker and customers will have a complaints avenue in their jurisdiction, should an issue arise.

Additional Features

Customer reviews point to the limited additional tools that are available from the client portal. There is a helpful commission calculator, economical calendar, and FIX API for UK and EEA clients, but there aren’t the in-depth training guides and tutorials found at many brokers. As a result, beginners looking for additional support may be disappointed.

Account Types

Two account types are available:

Executive

• The typical forex spread is 1.6 pips
• MT4 and Equiti EQ Trader
• Minimum deposit of $500
• USD, EUR, GBP & AED
• All instruments
• No commission
• ECN model
• Micro lots

Premiere

• Typical forex spread 0.2 pips
• Forex & metal commission
• Minimum deposit of $20,000
• MT4 and Equiti EQ Trader
• USD, EUR, GBP & AED
• All instruments
• ECN model
• Micro lots

Benefits

There are several benefits to opening an account with EGM:

• Tight spreads
• Highly regulated
• Powerful mobile app
• MT4 trading platform
• Multilingual customer support team

Drawbacks

The broker could improve in several areas:

• No cryptocurrencies
• No learning resources

Trading Hours

The forex market is open 24 hours a day, 5 days a week. Metals have the same trading hours but there is a break at 21:00-22:00 GMT during British summertime and 22:00-23:00 GMT during daylight saving time. A full calendar with holidays and irregular market times for assets is available on the website.

Customer Support

Equiti’s 24/6 customer support team can be contacted via:

• Live chat – online chat available from the bottom right-hand corner of the website
• Telephone – see the broker’s Contact Us page for the phone number in your area
• Email – [email protected]

Staff are friendly, and helpful and can assist in multiple languages.

Safety

Personal data is held in secure cloud facilities while the website uses SSL encryption technology. User funds are also segregated from the company’s cash and client fund insurance is available for up to $1,000,000 per client.

EGM Securities Verdict

EGM is a leading international forex and CFD broker. Offering the MT4 platform, mobile app, and multilingual support, they’re a good all-rounder. To improve further, we’d like to see cryptocurrency trading added to the platform and additional training resources for beginners.

Accepted Countries

Equiti accepts traders from Australia, Thailand, Canada, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar, and most other countries.

Traders can not use Equiti from the United States.

Frequently Asked Questions

What’s the minimum deposit to open an EGM Account?

Clients need to deposit a minimum of $500 when they open a live trading account. However, after the first deposit, the minimum deposit requirement drops to $30 for most methods and there is no minimum for bank wire transfers.

What leverage is available with EGM?

EGM Securities offers maximum leverage up to 1:500. However, leverage does vary depending on the instrument traded. See the broker’s website for details.

Is EGM Securities a safe broker to trade with?

EGM Securities is a legitimate and trustworthy online broker. The company is regulated in multiple jurisdictions around the world, including the UK Financial Conduct Authority (FCA).

Does EGM Securities offer a demo account?

Yes, traders can open a demo account from the broker’s website. The practice account is funded with virtual cash so users can test the platform and broker. The demo account can be closed and a real-money trading account can be opened when clients are ready.

Does EGM Securities offer a swap-free account?

Yes – It offers an Islamic-friendly swap-free account. Speak to customer support to open an account.

Editorial Staff

Editorial Staff at Chweya is a team of financial experts led by Vincent Nyagaka, with over 9 years of experience in finance, commerce, forex, crypto, and marketing. Started in 2014, Chweya is now among the largest free financial resource sites in the industry and is often referred to as Wikipedia for business.