A relatively new entrant on the global prop trading markt, Equity Edge gives traders the opportunity to unlock funded accounts with a value of up to $100,000, with the possibility to scale up to as much as $2 million – keeping 90% of the profits in the process.
While this may sound impressive, it must be noted that only simulated trading is available, which can be a major red flag for many prop traders.
Furthermore, the firm lacks reputable reviews from the likes of the Forex Peace Army.
Considering these factors, is Equity Edge a platform worth trying and can it deliver on its lofty promises? – Let’s find out in our in-depth review of the Equity Edge prop trading firm.
Pros and cons of Funds for Traders prop firm
Pros
Scaling up to $2 million in gross funding
No monthly account fees
Funded accounts start from $2,500
Competitive evaluation fees
Up to 90% profit split
Cons
Only simulated funds available
Lack of meaningful security features and reviews
No MetaTrader 4
Funded accounts up to $100,000
1:50 maximum leverage on forex
Safety of Equity Edge – 1.5
The global prop trading industry is quite saturated and prospective clients often look for firms with robust security features, due to the lack of licensing and regulatory oversight on the proprietary trading market.
The Forex Peace Army is one of the most reputable platforms for forex prop firm and brokerage reviews. Unfortunately, Equity Edge is not rated by the platform, thus, it does not have a dedicated page on the FPA website.
The registration number listed on the official website is 15263705.
Alternatively, Equity Edge does have a sizable number of ratings on Trustpilot, with over 1,600 user ratings giving it an average score of 3.4 out of 5, which is not particularly high.
This lack of meaningful reviews is unlikely to inspire much confidence towards Equity Edge.
Although, a silver lining for the firm is the partnership with Match-Trader, which is a licensed forex broker.
Equity Edge maximum funding and capital allocation – 3
Prop firms all over the world provide their traders with different funding tiers to tap into different demographics of traders. For this reason, the smallest funded account at Equity Edge starts at only $2,500 in gross funding, with the largest funded account providing $100,000 in buying power, with the possibility to scale up to as much as $2 million.
However, it must be noted that $100,000 is considerably lower than competing prop firms, as $250,000, $500,000 and even $1 million are the most popular maximum funding levels.
The accessible lower funding tier can be a welcome feature, Equity Edge ultimately falls short of any competitors in terms of its funding structure, which also makes scaling a long and arduous process.
Equity Edge assets – 4
Upon first viewing of the official Equity Edge website, users are unlikely to get much information regarding the specific asset classes and instruments they will be able to trade with the firm, which can be cause for concern.
However, upon further inspection of the partner broker, users can see that the firm primarily focuses on currency pairs and CFDs, with metals, equity indices and crypto being notable alternatives.
The selection of instruments is over 100, but this nonetheless limits the options for traders, as the firm is broadly FX-focused.
The maximum leverage available for forex trades is 1:50, while metals have a maximum leverage ceiling of 1:20.
Equity Edge trading rules and limitations – 3.7
Every prop trading account comes with a set of limitations that traders need to follow in order to maintain access to their accounts.
These limits serve as risk management measures for the prop firm by implementing profit targets and drawdown limitations.
Below we can see the relevant limits and requirements traders can come across when trying to beat the 1-step and 2-step challenges on the Equity Edge platform.
1-Step funding challenge
The specific rules and limits that apply to the 1-step trading challenge are the following:
- No trading period limitations
- 2 minimum trading days required
- 4% daily loss limit
- 6% maximum trailing loss limit
- 10% profit target
- 1:50 leverage for forex, 1:20 for metals, 1:2 for crypto
2-Step funding challenge
As for the 2-step challenge, the following terms and limits apply:
- Unlimited trading period
- 0 minimum trading days
- 5% maximum daily loss limit for all phases
- 10% maximum overall loss limit for all phases
- 8% profit target for Phase 1
- 5% profit target for Phase 2
- 1:50 leverage for forex, 1:20 for metals, 1:2 for crypto
As we can see, the trading terms offered by Equity Edge are more or less in line with the requirements of competing firms. A notable distinction can be made between the 1-phase and 2-phase evaluations, with the 2-phase model requiring different profit targets for Phases 1 and 2.
Equity Edge fees – 4
Every prop trading firm offers account fees, which vary based on the buying power of a particular funding challenge. In many cases, the fees also differ by the number of steps a funding challenge takes to complete – the longer the challenge takes, the lower the account fees are.
In some cases, the fees are fully refundable upon completion of the funding challenge. Equity Edge accounts also frequently go on sale, which allows traders to buy challenges at considerable discounts.
We can view the fees charged for each of the funded accounts available at Equity Edge below.
1-Step funding challenge fees
The following fees apply to the Equity Edge 1-step challenge:
- $18 for the $2,500 account ($15 discounted)
- $34 for the $5,000 account ($20 discounted)
- $67 for the $10,000 account ($30 discounted)
- $167 for the $25,000 account ($100 discounted)
- $277 for the $50,000 account ($220 discounted)
- $577 for the $100,000 account ($500 discounted)
The discounts make the 1-step challenge more accessible, while the base fees charged for the accounts are also competitive when compared to other prop firms on the market.
An important factor to note is that the fees for the 2-step funding challenge are the same as the 1-step challenge, which means that the firm does not offer any monetary advantages between the two types of evaluations.
This may be an issue for some traders, as many competing firms also offer lower prices for 2 and 3-step evaluation programs to compensate for the length of the process.
Equity Edge platforms – 2
When it comes to the trading platforms used by prop firms to attract clients, MetaTrader 4 is the undoubted top choice on the market.
Unfortunately, Equity Edge does not offer MT4 to its clients. Instead, the firm has access to TradingView via the Match-Trader brokerage platform.
While TradingView is also quite popular, the lack of MetaTrader 4 may be a significant downside for more experienced prop traders who have already used MT4 for forex and CFDs trading in the past.
Furthermore, there is also no designated mobile app for iOS and Android users, which is also an inconvenience.
Equity Edge profit sharing – 3
Traders who sign up at Equity Edge get to keep up to 90% of the profits they generate, while the firm keeps the 10%.
This profit-sharing agreement is in line with the competitions, as most prop firms offer 80 to 90% of the profits to active clients. However, new traders start at a profit split of 80%.
When it comes to profit withdrawals, traders can take out their funds after a 48-hour processing, doing so using bank transfers or cryptocurrencies, such as Bitcoin and Ethereum.
Overall, the profit split offered by Equity Edge is quite standard when compared to competing firms and flexible withdrawal terms are a welcome inclusion.
Education and trading tools at Equity Edge – 0.8
Traders who are new to the prop trading process may require some educational materials to learn the ropes as they take on a funding challenge. A bulk of the prop trading process includes plenty of trial and error while traders learn more about how funding challenges work.
Unfortunately, Equity Edge does not provide dedicated trading courses to their clients, while Match-Trader offers educational articles and blogs.
Overall, educational content seems to be lacking at Equity Edge, which can be a major downside and make the firm’s challenges difficult to access for complete beginners.
Webinars and performance-evaluation features are also lacking at Equity Edge.
On the other hand, economic calendars and technical indicators are readily available, thanks to the access to TradingView, which benefits from hundreds of user-generated indicators that are ready to use.
Customer support at Equity Edge – 2.4
Clients that would like to contact Equity Edge can do so using the customer inquiry form on the ‘Contact Us’ page of the official Equity Edge website.
Furthermore, a comprehensive FAQ page also answers some of the basic questions prospective clients may have regarding the firms and its funding challenges.
It must be noted that a customer hotline is not listed on the official website, while a live chat function, as well as an email address, are both available.
Overall, the lack of a hotline, as well as limited language options are what drag the customer support features of Equity Edge down in our ratings.
FAQ on Equity Edge prop review
Is Equity Edge regulated?
No. Equity Edge is a proprietary trading firm and such firms are typically subject to very little regulatory scrutiny. For this reason, some prospective clients are cautious when it comes to choosing a prop firm and typically look for the ones that have a lot of reputable reviews and ratings, as well as a solid customer support suite.
What can I trade at Equity Edge?
Equity Edge is partnered with Match-Trader, which is a licensed FX broker that offers currency pairs, commodities, CFDs, metals, energies, equity indices and cryptocurrencies for trading.
The spreads for each individual instrument may vary considerably and are typically the lowest when it comes to major currency pairs, such as the EUR/USD pair.
Is Equity Edge a forex broker?
No. Equity Edge is a forex prop trading firm, which provides clients with simulated funded trading accounts, which they can use to trade currency pairs, CFDs, indices, etc.
The firm is strictly not a forex broker and does not hold any brokerage licenses.
