Summary

Recommended for long-term investors in the UK

EQi is a UK-based stockbroker regulated by the Financial Conduct Authority (FCA). It was founded as Selftrade in 2007, and was later acquired by the Equiniti Group, where it was rebranded as EQi.

EQi only accepts UK residents as clients, but for them it offers a wide range of assets and access to international stock exchanges.

EQi is considered safe because it is regulated by a top-tier financial authority, its parent company is listed on a stock exchange, and it discloses its financials transparently.

Overall Rating
3.6
Fees
1.3
Account opening
5.0
Deposit and withdrawal
3.8
Trading platform
2.6
Markets and products
3.0
Research
1.3
Customer service
2.9
Education
0.5

EQi pros and cons

EQI has a quick and easy account opening process, with the option to create UK tax-exempt ISA or SIPP accounts. In a further advantage to long-term investors, EQi has low fund fees. Among other benefits, it offers free deposit and withdrawal from your account.

On the other hand, EQi charges high trading fees on some other asset classes, most notably non-UK stocks and ETFs; a situation aggravated by the absence of base currencies other than GBP. In a further drawback, the web trading platform suffers from a lack of high-quality research and educational tools.

Pros Cons
Quick and easy account opening High non-UK stock trading fees
Free deposit and withdrawal No quality educational tools
Low fund fees Only GBP as base currency
EQi main features and highlights
🗺️ Country of regulation UK
💰 Trading fees class High
💰 Inactivity fee charged No
💰 Withdrawal fee amount $0
💰 Minimum deposit $0
🕖 Time to open an account 1 day
💳 Deposit with bank card Available
👛 Depositing with electronic wallet Not available
💱 Number of base currencies supported 1
🎮 Demo account provided No
🛍️ Products offered Stock, ETF, Fund, Bond

EQi review
Fees

1.3
To find out more about its trading and non-trading fees, visit EQi

or
Compare to its best reviewed alternative: Barclays
EQi charges no withdrawal fees and has relatively low fund fees. Its other trading fees are relatively high though, especially for non-UK stocks and ETFs; there's also a custody fee.
Pros Cons
No withdrawal fee High trading fees
High non-UK stock fees
Custody fee
EQi fees snapshot
Assets Fee level Fee terms
US stock High £10.99 per trade plus 0.95% of the trade value
EURUSD - Not available
Mutual fund Low £10.99 per trade plus 0.3% annual fee for investments less than £50,000
Inactivity fee Low No inactivity fee

How we ranked fees

We ranked EQi's fee levels as low, average or high based on how they compare to those of all reviewed brokers.

First, let's go over some basic terms related to broker fees. What you need to keep an eye on are trading fees and non-trading fees.

In the sections below, you will find the most relevant fees of EQi for each asset class. For example, in the case of stock investing the most important fees are commissions.

We also compared EQi's fees with those of two similar brokers we selected, AJ Bell Youinvest and Hargreaves Lansdown. This selection is based on objective factors such as products offered, client profile, fee structure, etc. See a more detailed rundown of EQi alternatives.

To have a clear overview of EQi, let's start with the trading fees.

EQi trading fees

EQi has mostly high trading fees.

Broken down by product category, stock and ETF fees are high, but fund and bond fees are lower. Therefore, EQi is not recommended for traders interested in short-term trading of stocks or ETFs.

On the other hand, for long-term investors  who don't want to buy and sell assets frequently, EQi could be a good choice. (This is also because of EQi's low non-trading fees, which we will discuss further below.)

Stock fees and ETF fees

EQi has generally high stock and ETF commissions compared with its closest competitors, except on the UK market, its home market.

EQi stock and ETF commission of a $2,000 trade
  EQi AJ Bell Youinvest Hargreaves Lansdown
US stock $33.3 $12.9 $15.5
UK stock $14.3 $12.9 $15.5
German stock $33.3 $12.9 $15.5

EQi charges a flat fee of £10.99 per trade, regardless of the volume of the transaction. This also means, however, that executing more trades per year will raise the total amount you pay in fees. For trading international shares, EQi charges you an additional fee. This fee depends on the share trade value, as detailed in the table below. It's also important to highlight that share prices in foreign currencies are converted at the current market exchange rate.

International share trade value Additional fee
Up to £25,000 0.95%
£25,000.01 - £50,000 0.75%
£50,000.01 - £100,000 0.50%
£100,000.01 and above 0.30%

Fund fees

EQi fund fees are low and they are charged pro-rata. If you hold any funds, EQi charges a percentage of their total value per quarter; but there is no fee to buy funds. However, the sale of mutual funds costs you £10.99 per trade.

Fund value Fee
Up to £50,000 0.30% per annum
£50,000.01 - £250,000 0.25% per annum
£250,000 and above 0.15% per annum (max. £250 per quarter)

Compared with its closest competitors, EQi's fund fees can be considered high. 

EQi commission for a $2,000 fund purchase
  EQi AJ Bell Youinvest Hargreaves Lansdown
Mutual fund $7.1 $2.0 $0.0

Bond fees

EQi has generally low bond fees, on par with competitors such as Hargreaves Lansdown. 

EQi commission of a $10,000 government bond trade
  EQi AJ Bell Youinvest Hargreaves Lansdown
US Treasury bond - - -
EU government bond $14.3 $12.9 $15.5

Non-trading fees

EQi has generally low non-trading fees. Deposits and withdrawals are free of charge, and there is no account fee for the default Dealing Account.

While there is no outright inactivity fee, EQi does charge a quarterly custody fee of £17.49. Any trading fees you paid during the quarter can be deducted from this custody fee; meaning that if you haven't carried out any (fee-bearing) trades in the past quarter, it will function as a kind of inactivity fee. The custody fee is waived if you have another account with EQi such as an ISA or SIPP account, or if you have no funds in your account.

EQi non-trading fees
  EQi AJ Bell Youinvest Hargreaves Lansdown
Account fee No No No
Inactivity fee Yes No No
Deposit fee $0 $0 $0
Withdrawal fee $0 $0 $0

EQi review
Account opening

5.0
To experience the account opening process, visit EQi

or
Compare to its best reviewed alternative: Barclays
Opening an account at EQi is fast and fully online. The process is simple and easy to follow. However, it is only available to UK residents.
Pros Cons
Fast Only for UK residents
Fully digital
No minimum deposit

Can you open an account?

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Only UK residents can open an account at EQi.

What is the minimum deposit at EQi?

The required EQi minimum deposit is $0 for all account types. This is great if you want to trade or invest with lower amounts only.

Account types

EQi offers several account types: Dealing Account, SIPP, ISA and Lifetime ISA. However, corporate accounts are not available. For this review, we tested the Dealing Account.

How to open your account

The account opening at EQi is simple, fast and fully online. It takes no more than 5 minutes to open your account.

To open an account, you will need the following: a UK address, a UK bank account and your National Insurance Number. (If you are a non-UK national or have multiple nationalities, you will need some additional information.)

The steps of registration are the following:

  1. Make sure you have all of the above.
  2. Fill out the form with your personal details.
  3. Provide information and details about your bank account. At this point, EQi will ask for a direct debit to be approved from your bank account.
  4. Verify your nationality by entering your UK National Insurance Number and details about your country and place of birth.
  5. Create your 8-digit PIN

The whole process was straightforward and we did not experience any bugs or errors.

EQi review - Account opening

EQi review
Deposit and withdrawal

3.8
To find out more about the deposit and withdrawal process, visit EQi

or
Compare to its best reviewed alternative: Barclays
EQi offers simple and free deposit and withdrawal via bank transfer or credit/debit card. On the negative side, only GBP accounts are available, and withdrawal is slow.
Pros Cons
Credit/Debit card available Only one account base currency
Free withdrawal Slow withdrawal - over 3 days
Electronic wallets not accepted

Account base currencies

At EQi, the only available base currency is GBP. This means that buying non-UK products may incur a currency exchange fee.

Base currencies at EQi vs similar brokers
  EQi AJ Bell Youinvest Hargreaves Lansdown
Number of base currencies 1 1 1

Why does this matter? If you fund your trading account in the same currency as your bank account or you trade assets in the same currency as your trading account base currency, you don't have to pay a conversion fee. So if you have a personal bank account in a currency other than GBP, then you will be charged a conversion fee.

A convenient way to save on currency conversion fees is by opening a multi-currency bank account at a digital bank. These usually offer bank accounts in several currencies with great currency exchange rates, as well as free or cheap international bank transfers. Opening an account only takes a few minutes on your phone.

Compare digital banks

 

Deposit fees and options

EQi charges no deposit fees. You can use bank transfer or credit/debit cards to fund your accounts; however, electronic wallets are not accepted.

EQi deposit options
  EQi AJ Bell Youinvest Hargreaves Lansdown
Bank transfer Yes Yes Yes
Credit/debit card Yes Yes Yes
Electronic wallets No No No

A bank transfer can take several business days, while payment with a credit/debit card is instant.

You can only deposit money from accounts that are in your name.

EQi review - Deposit and withdrawal - Deposit

EQi withdrawal fees and options

EQi charges no withdrawal fees. All withdrawals are made from the Dealing Account to your Nominated Bank Account, so credit/debit card withdrawal is not possible.

EQi withdrawal fees and options
  EQi AJ Bell Youinvest Hargreaves Lansdown
Bank transfer Yes Yes Yes
Credit/debit card No No No
Electronic wallets No No No
Withdrawal fee $0 $0 $0

How long does it take to withdraw money from EQi? We tested the bank transfer withdrawal and found that it can take at least 3 business days. Alternatively, you can request immediate withdrawal via CHAPS payment, but it comes with a £35.00 fee.

You can only withdraw money to accounts that are in your name.

How do you withdraw money from EQi?

  • Sign in to your EQi Dealing Account.
  • Go to your dashboard, where you can select 'View' or 'Deal'. 
  • On either of these pages, click the 'Manage' button. 
  • In the dropdown menu, click 'Move your Money' then select 'Withdraw Money'.
  • Enter the amount you wish to withdraw, then submit your request.
  • After checking all the information, press 'Confirm' to initiate the withdrawal.

Compare to other brokers

EQi review
Web trading platform

2.7
To try the web trading platform yourself, visit EQi

or
Compare to its best reviewed alternative: Barclays
EQi's web trading platform has a simple design and offers good fee reports. However, it lacks customizability and is not really user-friendly at first sight.
Pros Cons
Clear fee report No two-step (safer) login
Order confirmation Limited customizability (for charts, workspace)
No price alerts
EQi platforms to choose from
Trading platform Score Available
Web 2.7 stars Yes
Mobile 2.6 stars Yes
Desktop - No

EQi offers a web and a mobile trading platform. Both are available only in English.

Look and feel

The EQi web trading platform has a nice, simple design, but it sometimes feels outdated, and some features are hard to find, making the platform difficult to navigate at first.

The platform is not customizable. You can view some charts and dropdowns, but these aren't helpful enough.

Among other negatives, we experienced some bugs during testing, such as an error message when we tried to log in.

Overall, EQi offers a decent trading platform, but it could use some improvements.

EQi review - Web trading platform

Login and security

EQi provides only a one-step login. Two-step authentication would be more secure.

Search functions

The search functions are fine. You can search for either the ticker or the name to find the asset you need. Stocks, funds and ETFs can be searched separately, and you can also search by industry, attributes or price levels. 

EQi review - Web trading platform - Search

Placing orders

You can use the following order types:

  • Market
  • Limit
  • Stop
  • Trailing stop

To get a better understanding of these terms, read our overview of order types.

There are also order time limits you can use: Good 'til 30/60/90 Days or until a custom date.

EQi review - Web trading platform - Order panel

Alerts and notifications

You can't set up price alerts and notifications. However, you will get an order confirmation for processed limit orders. 

Portfolio and fee reports

EQi has clear and transparent portfolio and fee reports. Go to your Dashboard and click 'View' to view all your holdings and open orders. 

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EQi review
Mobile trading platform

2.6
To try the mobile trading platform yourself, visit EQi

or
Compare to its best reviewed alternative: Barclays
EQi's mobile platform has a simple, clear design, and offers safe login. However, we wished there was a wider selection of order types, price alerts and chart functions.
Pros Cons
Two-step (safer) login No price alerts
Order confirmation No Touch/Face ID login
Limited functionality

The EQi mobile trading platform offers only a few functions: you can place orders and check your account. It is available only in English, and only for iOS. 

Look and feel

The EQi mobile trading platform is quite user-friendly. The design is really simple and straightforward. It has just a few functions, but these are easy to find. We had the feeling that this platform is meant primarily as a quick backup solution for cases when you don't have access to the web trading platform.

EQi review - Mobile trading platform

Login and security

EQi provides a safe login for its mobile platform, with two-step authentication. However, you can't log in using biometric authentication. Adding this feature would provide extra convenience and security.

Search functions

The search functions are OK. You can search by entering a ticker or an asset name, and it shows you possible results as you type. However, the results themselves do not provide a lot of information. There are no charts or any other tools to help your research.

EQi review - Mobile trading platform - Search

Placing orders

The range of order types is very narrow, as you can only choose among Market, Limit and Rising Buy orders. This is fewer than the order types available on the web trading platform.

There are also only a few order time limits you can use: Day and Good 'til 30/60/90 Days.

EQi review - Mobile trading platform - Order panel

Alerts and notifications

You can't set alerts and notifications on the EQi mobile platform.

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EQi review
Desktop trading platform

EQi does not offer a desktop trading platform.

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EQi review
Markets and products

3.0
To dig even deeper in markets and products, visit EQi

or
Compare to its best reviewed alternative: Barclays
EQi offers an impressive range of stocks, funds, ETFs and bonds, but many other product categories such as forex, CFDs, futures or options are missing entirely.
EQi asset classes
  EQi AJ Bell Youinvest Hargreaves Lansdown
Stock Yes Yes Yes
ETF Yes Yes Yes
Forex No No No
Fund Yes Yes Yes
Bond Yes No Yes
Options No No No
Futures No No No
CFD No No No
Crypto No No No

EQi has a decent product portfolio. You can invest in and trade stocks, ETFs, funds and bonds.

Stocks and ETFs

EQi offers a wide range of international stocks and ETFs. It gives you access to European and North American stock exchanges, such as London, New York, Toronto or Paris.

EQi's stock and ETF offer is much bigger than that of its closest competitors.

EQi stock and ETF selection
  EQi AJ Bell Youinvest Hargreaves Lansdown
Stock markets (#) 30 17 21
ETFs (#) 4,500 2,250 2,500

Funds

EQi offers an extensive range of funds, and the number of available mutual fund providers roughly matches that of its competitors.

EQi mutual fund selection
  EQi AJ Bell Youinvest Hargreaves Lansdown
Fund providers (#) 140 270 160

A wide selection of more than 6,000 funds is available from about 140 providers. You will find funds from the biggest fund providers, like BlackRock and Vanguard, and also from smaller ones.

Bonds

EQi offers quite a large number of bonds to trade. These are mostly corporate bonds. However, it is important to note that most of these bonds are not tradeable online; you have to contact costumer service on the phone if you want to trade bonds. 

EQi bond selection
  EQi AJ Bell Youinvest Hargreaves Lansdown
Bonds (#) 3,600 - 190

EQi review
Research

1.3
To check the available research tools and assets, visit EQi

or
Compare to its best reviewed alternative: Barclays
EQi's research section offers some trading ideas and fundamental data, but there are no analytic tools and only a low-quality news feed.
Pros Cons
Data on asset fundamentals Limited interactive charting
No/poor quality news flow
No/limited set of analytic tools

Trading ideas

EQi provides some trading ideas, in the form of its Risers and Fallers list, based on daily price changes; and its lists of "Top five most traded" assets. However, actual recommendations are quite limited. You can view third-party recommendations via the Stockomedation tool, but this is not free of charge.

EQi review - Research - Recommendations

Fundamental data

EQi offers some fundamental data. For example, for stocks, you can view income statements, balance sheets and cash flow statements. You can select which year you want to see data for.

EQi review - Research - Fundamental data

Charting

EQi has poor charting tools. There are only 9 technical indicators and just a few chart types. There is no possibility to draw trendlines, and the data provided is also scarce. You can acces charting tools by clicking 'Go to interactive chart'; however, you can't save your charts on the platform.

EQi review - Research - Charting

News feed

EQi offers only a quite simple news feed. It involves a weekly roundup of recent events and their impact on the market.

Compare research pros and cons

EQi review
Customer service

2.9
To find customer service contact information details, visit EQi

or
Compare to its best reviewed alternative: Barclays
EQi's customer service is OK. Responses are useful and relevant, but can be slow over both email and the phone. In addition, there is no live chat or 24/7 availability.
Pros Cons
Phone support No live chat
Relevant answers No 24/7 support
Slow support

You can contact EQi via:

  • phone
  • email

We had mixed experiences with EQi's phone support. Its response speed was average at best, but we nonetheless got relevant answers.

It was mostly the same with email support: we received relevant answers but they took a while to arrive. We recieved the anwers after 3 working days, though they were long and detailed. 

On the negative side, we missed 24/7 availability and the live chat function.

EQi review - Customer Service

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EQi review
Education

0.5
To check the available education material and assets, visit EQi

or
Compare to its best reviewed alternative: Barclays
EQi offers little more than a handful of articles when it comes to education. It has no demo account or platform tutorial videos.
Pros Cons
Educational articles No demo account
No trading platform tutorial videos
No educational videos

At EQi, you can find articles about how to protect your investments or where to invest; focusing on the basics of ISAs, SIPPs and other long-term investment forms. Besides articles, you can also find podcast episodes about financial topics.

EQi review - Education

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EQi review
Safety

To find out more about safety and regulation, visit EQi

or
Compare to its best reviewed alternative: Barclays
EQi is regulated by the top-tier UK FCA. It's safety is further boosted by its membership of the Equiniti Group, which is listed on the London Stock Exchange.
Pros Cons
Majority of clients belong to a top-tier financial authority Does not hold a banking license
High level of investor protection
Listed on stock exchange

Is EQi regulated?

Yes, it is regulated by the UK Financial Conduct Authority (FCA).

EQi is based in the UK and was founded in 2007; it is now part of the Equiniti Group.

Is EQi safe?

To be certain whether a brokerage is safe, we highly advise that you check two facts:

  • how you are protected if something goes wrong
  • what the background of the broker is

How you are protected

Should EQi become insolvent, you are eligible to be covered by the FCA up to £85,000 per account.

EQi investor protection
Country of clients Protection amount Regulator Legal entity
UK £85,000 Financial Conduct Authority (FCA) Equiniti Financial Services Limited

EQi does not provide negative balance protection. If the balance on your account goes into negative, you will not be protected.

Background

EQi was established in 2007, and was later acquired by the Equiniti Group. The longer track record a broker has, the more proof we have that it has successfully survived previous financial crises.

The Equiniti Group is listed on the London Stock Exchange, which is a big plus for safety as EQi releases financial statements regularly and transparently.

Overall, being listed on a stock exchange, publishing financial statements, and being regulated by a top-tier authority are all great signs for EQi's safety.

Find your safe broker

EQi review
Bottom line

Visit EQi if you are looking for further details and information

or
Compare to its best reviewed alternative: Barclays

EQi is a UK-based stockbroker, regulated by a top-tier authority and focusing on UK clients.

EQi provides low fund trading fees and access to international markets. It has a quick account opening process and offers pretty good deposit and withdrawal options. 

On the negative side, EQi has high trading fees for non-UK stocks and ETFs. The design and functionality of the web trading platform compares poorly to EQi's competitors. The lack of research capabilities and quality educational tools is not making the broker beginner-friendly at all. The mobile platform is rudimentary; while EQi has only one base currency (GBP).

With no minimum deposit and low fund fees, EQi may be a good choice for UK residents who are focusing on long-term investments.

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EQi review
FAQ

We recommend EQi for long-term investors in the uk.

Below you can find links to all aspects of EQi in this comprehensive collection.

Lower fees, lower costs?

We detailed this in our EQi fees article.

What about the minimum deposit?

Our ultimate guide to the EQi minimum deposit is updated regularly.

How to start your EQi account?

Look no further than our evaluation of the EQi account opening.

How's their trading app?

Here's our expert view after checking the EQi trading app.

Is the quality of customer service satisfactory?

All you need to know about the EQi customer service.

Legit or scam?

Is EQi legit features all the key aspects you need to look at to see if a broker is safe and legit.

Free or premium? Or both?

A glance at actual costs and whether EQi is really free.

Is this broker good for beginners?

We checked it in Is EQi good for beginners.

Should you buy your silver bullets on EQi?

Research for silver bugs in the Silver buy on EQi guide

I want to trade options, are they available at EQi?

We explored the topic in Can you trade options on EQi?

What is the minimum account balance at EQi?

Check out the current account balance requirements at EQi in our What is the minimum account balance at EQi article.

Looking for commission and fees data for EQi?

We collected them in EQi commission and fees.

How do you withdraw money from EQi?

We tested it and collected the options and costs in How to withdraw money on EQi.

Author of this review

Gyula Lencsés

Author of this review

Gyula has more than 10 years of experience in the financial industry. He spent most of his career in the wealth management business as a portfolio manager of mutual funds. He is eager to leverage his knowledge to guide you through the world of brokerage.

Gyula Lencsés

Broker Expert

Gyula has more than 10 years of experience in the financial industry. He spent most of his career in the wealth management business as a portfolio manager of mutual funds. He is eager to leverage his knowledge to guide you through the world of brokerage.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

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