SolidFXPro Review by professional Forex trading experts the “ForexSQ” FX trading team, Finding out everything you need to know about the broker is in this SolidFXPro Review.
SolidFXPro Review
SolidFXPro offers several account types, but the information on the different trading conditions trading conditions is rather limited. Most importantly, the broker’s spreads are not specified.
SolidFXProAdvanatges:
– MT4 available
One of the few good things about of SolidFXPro we could think of is that it supports the renown Metatrader 4 trading platform. The MT4 is easy to use and perfectly equipped trading terminal, providing great charting, wide range of automated strategies (Expert Advisors) and technical analysis indicators, customization options, etc.
Extensive product portfolio
The financial instruments available for trade at SolidFXPro include currency pairs, and various CFDs – on indices, commodities, stocks and cryptocurrencies.
SolidFXPro disdvantages:
– Not regulated and likely a scam
According to the information on its website, SolidFXPro is operated by Polard Group LTD, a company registered offshore, on the Marshall islands. However, once you register, the name of another company appears: Joshua Consulting LTD. It also provides SolidFXPro’s MT4 platform. This company is in the warning list of several regulators, including Italy’s CONSOB and UK’s financial watchdog. It operates the notorious brokerage Capital Markets Banc (CMB), which is apparently cold-calls people and scams them out of their money.
– Comparatively high initial deposit required
In order to open an account with SolidFXPro, one has to invest at least $250. Such initial deposit required is not high, yet many brokers, including reliable and regulated ones, require less. For example, you can open an account with global brokerage FxPro by depositing $100.
– Spreads not specified
Unlike most credible brokers, SolidFXPro does not specify the spreads it offers on its website. Such lack of transparency in terms of a broker’s pricing policy is huge red flag, especially combined with its bad reputation.
By comparison, usually forex brokers offer spreads on EUR/USD within the range of 1.0 – 1.5 pips.
SolidFXPro seems like one of the many fraudster brokers out there. It does not provide the public with even the most basic information about its trading conditions, and it does not hold a valid forex broker license. Worse still, it seems that SolidFXPro is another brand of Joshua Consulting LTD, which also operates the notorious brokerage Capital Markets Banc (CMB). You can see for yourselves all the negative reviews on our website.
Besides, both Italy’s CONSOB and UK’s FCA have issued warnings against Joshua Consulting LTD. It seems that employees of this company cold call people and scam them out of their money. So, you’d better stay away from both SolidFXPro and CNB and choose a good and reliable broker instead.
According to us, one of the best jurisdictions for forex brokerage regulation is the one in the UK. Licensed companies are required to meet strict rules on capital adequacy, client account segregation, AML, transaction reporting and many more.
The Broker is not a safe forex broker, Instead you can use Plus500, XM, eToro, Fxpro or AvaTrade forex brokers.
SolidFXPro Review Conclusion
For more information about currency trading brokers visit TopForexBrokers.com forex brokers comparison website, Tip ForexSQ.com foreign exchange trading experts please by share this article about SolidFXPro Review.