Solid FX Review – Broker Luring For Inexperienced Traders

Solid Fx broker presents itself as an EU-based company. To be precise, one registered in the Netherlands. As the company operating since 2009, traders would believe it’s legitimate. However, digging deeper discovers all irregularities of this broker.

Not to fall into their trap read this Solid Fx review carefully.

Solid Fx Is Not a Trustworthy Broker?

Considering their presentation, the only thing that could back it up is regulation. Two main regulators from the Netherlands are AMF (Authority for the Financial Markets) and DNB (Central Bank of Netherlands). But Solid Fx broker is not licensed by any of these institutions. All this would be acceptable if the broker has any Tier 1 license. Such as ASIC, BaFin or FCA.

But all these registers didn’t bring any results upon search of Solid Fx trading company. This leads to the conclusion that all their statements are questionable. Nobody monitors their activities. Thus broker claims that all settlements are done through RBS and Standard Chartered. Important to realize is that those are not regulators.

No regulations. Solid Fx broker misleading about their liquidity providers. Non-transparent ownership and office information. No trading conditions are available. Traders are limited only to Forex.

Trading Platform and Other Apps on Solid FX

We can’t expect much from a broker that hides its office address. In general, the company is missing a lot of important information. Primarily about trading software. In fact, they don’t provide any trusted third-party software like cTrader or Meta Trader. But only unreliable web trader.

This program allows traders only to use basic trading features. Such as trading orders, history, news and a few indicators. It’s non-comparable to Meta Trader at all. Additionally, this software is not available for any mobile device. Which makes it even less desirable.

Many traders rely these days on social and copy trading features. Some of those even prefer automated trading options. But with Solid Fx trading company such features are not available. But even if they had those, they are a non-regulated broker.

What Financial Instruments Does The Platform Include?

As for the trading instruments, this broker didn’t put much effort into development. This company only offers Forex trading which is not so popular these days. With their manipulative trading platform, nobody can feel safe investing here. Instead of providing many more opportunities like commodities or very popular cryptos.

Not to mention that this broker doesn’t have a license for trading such instruments. Not in the Netherlands, but also nowhere else in the world.

Solid FX Countries Of Service

As we can see from Solid Fx reviews they are providing services worldwide. But mostly scamming traders from:

• United States
• Canada
• United Kingdom
• France
• Germany

All of the mentioned countries have very strict regulations. Therefore, check with your domestic regulator if you should trust this company. In fact, all of them will tell you the same thing. That this company is not genuine.

Solid FX List of Account Types                

Another mystery with this broker is their account-type offer. Not only that they don’t have any, but also minimum deposit info is not available. So, if you were planning to open an account here prepare for everything.

This broker uses a very lucrative tactic to attract its traders. Primarily, through trusted social media like LinkedIn. But once you get on a call with their boiler room agents, they will persuade you to deposit money. For this broker, it doesn’t matter how much. Because their only goal is to get you on board. But later with their cheesy tactics, they will try to extract more.

Can a Trader Use a Demo Account?

Not only that they don’t have live accounts, but also a demo account. Many traders are testing the company’s conditions this way. Unfortunately, Solid Fx scam broker is not one of those.

They are successfully hiding all their flaws. That’s why you have this Solid Fx review to learn all those flaws before you invest any money with them.

Terms of Service for Solid FX

The broker doesn’t have any specified terms and conditions. Actually, they present a “Code of conduct” which reveals nothing important. Also, funding methods are not available.

But even more importantly, this broker doesn’t have a transparent deposit or withdrawal policy. Primarily, withdrawals are the main issue. Traders don’t know under which conditions they can get a withdrawal. Moreover, this broker is non-licensed and they can make up any reason not to approve a withdrawal.

Leverage, Spreads and Fees

All trading conditions are unknown with this broker. Therefore, nobody has a valid reason to invest with them. Considering their statement as EU-broker they must comply with ESMA Rules. But with a such shady business, we highly doubt they meet any rules or regulations.

These non-licensed brokers often use non-existent fees or AML laws in their favor. Once a trader requests a withdrawal, they will ask you for some documentation or even more money. All this is designed with the idea to prolong the withdrawal process. So, you can lose all the capital in the meantime or deposit more money. The third option doesn’t exist with these swindlers.

Scammed by a solid fx Broker? – We Want To Hear Your Story

With such an anonymous broker you can’t expect to get your money back. However, if that happened to you let us hear about that experience.

By sharing your story you can warn other traders. But more importantly, start a chargeback process and get your money back!

What Is the Chargeback Procedure?

Chargeback is card transaction reversal. Once a cardholder or merchant files a request they provide certain proofs.

After the bank reviews you can get the funds back. But only within the first 18 months of the transaction. Don’t let these swindlers get away with your money. Get in touch now and book your first free consultation with our experts!