Is EQUITY TS a Scam?

At FXCanary, our safety analysis goes far beyond a broker’s glossy marketing. We cross-check licences against public registers, scrutinise corporate records, and comb through real-user reviews to build a multidimensional picture of how a broker behaves when clients’ money is on the line. For EQUITY TS, that investigation yields a Scam Risk Score of 50 out of 100 — a rating we classify as Elevated. This score reflects a deeply concerning imbalance: the broker holds a credible regulatory licence, but its operational track record, user complaints, and corporate thinness introduce significant questions that every trader must weigh.

The 50-point score is not pulled from thin air. It is built from weighted signals: the strength and nature of regulation (an ASIC derivatives licence), verified user complaints about withdrawals and profit payouts, the broker’s youth and zero-employee registration, and a small but disproportionately negative Trustpilot footprint. A broker with a strong licence but a pattern of user-reported payment problems rarely merits a neutral score — and EQUITY TS is no exception.

We want to be clear: a single-digit Trustpilot rating or a handful of angry reviews does not automatically make a broker a scam. However, when multiple independent users describe similar experiences — blocked profits, silence after withdrawal requests, and accounts closed after following the rules — a pattern emerges that regulators themselves look for. Our assessment of EQUITY TS is calibrated to reflect that exact pattern.

EQUITY TS PTY LTD holds an Australian Financial Services Licence (AFSL) under number 477891, issued by the Australian Securities and Investments Commission (ASIC). According to our cross-check of the ASIC professional register, the licence permits the holder to deal in derivatives as a market maker, with the licence type listed as ‘Derivatives Trading Licence (STP)’. On the surface, this is a mark of credibility: ASIC is a tier-1 regulator, and obtaining a derivatives licence is not a trivial exercise. However, the licence category and the broker’s setup raise critical questions about whether retail traders’ funds are protected in the way many assume.

Under ASIC’s framework, retail clients generally benefit from strict client-money segregation rules, negative balance protection, and a prohibition on incentives. But these protections apply only when the broker is actually dealing with retail clients under the Corporation Act’s retail/wholesale distinction. EQUITY TS’s licence is for derivatives — and its account tiers demand enormous minimum deposits (up to €500,000 for the VIP tier). Such deposit thresholds often correlate with offerings that classify clients as wholesale, thereby stripping away the retail protections. We could not confirm from the broker’s public materials whether it onboards retail clients or designates everyone as wholesale, but the minimums are a red flag.

Further, ASIC does not operate a compensation scheme for failed brokers. In the event of insolvency, retail client money held in segregated trust accounts should be returned, but if the broker has misused funds or if you are classified as wholesale, recovery is far from guaranteed. For EQUITY TS specifically, the combination of a new entity with zero employees and an account structure that could easily place you outside retail safeguards should give any depositor pause.

One of the most glaring findings from our research is the corporate filing data for EQUITY TS PTY LTD. The entity was registered on 27 August 2025 — barely two months old at the time of writing — and according to official records, it has zero employees. For a company purporting to offer a full suite of forex and CFD trading services across seven account tiers, zero employees is an extraordinary statement. It suggests either that the entire operation is outsourced to undisclosed third parties or that the corporate structure is a shell awaiting actual staffing.

When we combine this employment figure with the broker’s stated address — a premium co-working floor at 1 Collins Street in Melbourne’s financial district — the picture becomes more opaque still. That address can be rented by the day or month and is not indicative of a permanent operational presence. A virtual office with no staff does not automatically mean fraud, but it does mean there is likely no local team handling compliance, client support, or trade execution — all of which would be expected under an ASIC licence.

Brokers with substance tend to show their substance: they list key personnel, provide clear lines of accountability, and have a compliance history that can be traced. EQUITY TS has none of this. For a broker that requires six-figure deposits, the lack of any visible human infrastructure is, in our view, a serious safety deficit.

User reviews paint a troubling picture of withdrawal and payout behaviour. Two independent Trustpilot reviewers explicitly describe situations where profits were not paid. One states: “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 echoes: “Alot of cases they not pay the profit and give alot of reason to not allowed withdrawal profit only your capital try to avoid it.” These are not ambiguous complaints — they allege systemic denial of legitimate earnings.

Beyond profit denial, one reviewer reports complete silence after a withdrawal request: “Ever since I asked for my cash, it’s been silence. Support’s been nonchalant in every case.” Such behaviour is a hallmark of brokers that operate more like blockers than facilitators when money needs to leave the platform. While we acknowledge the possibility that some traders may have breached bonus terms or other conditions, the recurrence of the “no payout” theme across multiple reviews — combined with the broker’s refusal to engage transparently — suggests a deeper pattern.

We also note that the positive reviews on Trustpilot focus almost entirely on the sales or onboarding experience, not on successful withdrawals. In our investigative framework, reviews that praise “great support” but never mention actual profit withdrawals are weighted lightly. The true test of a broker is rarely at deposit time; it is at withdrawal time.

Every broker review at FXCanary concludes with a balance of evidence, and here the ledger tilts heavily toward caution. The green flags are few: the ASIC licence is real and can be verified, and a handful of users report positive, efficient interactions with support staff named Caleb and Miracle. But even these positives must be contextualised: they relate to account opening or problem resolution, not to receiving profits, and they come from isolated reviewers with no track record of verified trading.

The red flags, on the other hand, accumulate rapidly: (1) the corporate registration is brand new with zero employees, (2) the account tiers demand enormous minimums yet disclose almost no trading conditions — no spreads, no funding methods, and commission structures that look like percentages of something unspecified, (3) the withdrawal and profit-payout complaints are specific and align with the classic “okay until you try to leave” pattern, (4) the broker has not responded publicly to any of the scam allegations, and (5) the available licence details do not confirm any client-money segregation agreement or retail-client classification, leaving it unclear whether your deposit would be protected if something goes wrong.

A single strong licence does not neutralise five concrete danger signs. In our experience, this particular configuration — a legitimate-looking regulatory cover with an operationally hollow entity and a trail of payment complaints — is one that often precedes more serious revelations.

Based on our sweep of industry databases and public warnings, we did not identify any clone websites or impersonator domains pretending to be EQUITY TS. This is a small piece of good news: clones often target well-known brands to defraud unsuspecting users, and the absence here means that if you are dealing with the entity at 1 Collins Street, Melbourne, you are likely dealing with the licensed entity itself — however thin it may be.

Nevertheless, the broker’s youth means there has been little time for clones to emerge. Traders should remain vigilant for any unsolicited contact from individuals claiming to represent EQUITY TS through social media or messaging apps, as impersonation scams can surface quickly. Always independently verify the domain and contact details against the ASIC register and the official website.

Given the red flags, any trader considering an account with EQUITY TS — particularly the high-tier options — must take active steps to mitigate the risks we have identified. First, demand written confirmation from the broker on whether you will be classified as a retail or wholesale client. If wholesale, be aware that you will lose almost all regulatory protections, including the segregation of client money and access to any external dispute resolution scheme such as the Australian Financial Complaints Authority (AFCA).

Second, do not deposit more than you are prepared to lose completely. The six-figure minimums on the upper accounts mean that a single botched withdrawal could be financially devastating. Start with the smallest tier if you must, and conduct a full withdrawal test within the first week.

How quickly does the broker release funds? Are profit withdrawals treated differently from principal? These questions should be answered with your own money at stake, not hypothesised.

Third, keep records of every communication. Screenshot trading statements, chat logs, and withdrawal requests. If the broker later denies a payout, this evidence will be essential if you pursue a complaint with ASIC or engage a chargeback service.

And finally, check the AFCA public register to see if EQUITY TS PTY LTD is a member. Australian licensees are generally required to be, but a new entity may not yet appear. Without AFCA membership, you have no access to independent dispute resolution.

In our assessment, the risk of using EQUITY TS today outweighs the unverified promises of high-touch service. Until we see a consistent pattern of successful profit withdrawals and some corporate substance — employees, a compliance presence, and transparent trading conditions — we advise extreme caution.