Company Information

Get to know EQ Bank

Launched in 2016, EQ Bank is the direct banking brand of Equitable Bank, a federally regulated Schedule I bank in Canada. Operating without physical branches, EQ Bank leverages a digital-first model to reduce overhead and offer customers higher interest rates on savings products and GICs, as well as mortgage services. Its mission is to drive change in Canadian banking by providing a simpler, more transparent, and more rewarding banking experience. All eligible deposits with EQ Bank are protected by the Canada Deposit Insurance Corporation (CDIC) through its parent company, Equitable Bank.

Industry

Financial BankingPRIMARY
Financial Other Service

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EQ Bank

Canada

Founded in

2016 (10 Years)

Founded

Last online: No recent activity

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OVERALL SCORE

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Regulated

Recommended

IUX

(2,284 reviews)

Mauritius

2015

(10 years)

Security Information :

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ASIC

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This company is currently Unproved.

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License

A Grade License

Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.

B Grade License

Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.

C Grade License

Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.

D Grade License

From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.

TrustFinance is not a licensed financial advisor and is not affiliated with any financial institutions in your region. We encourage you to do your own research before making any investment decisions.