NEWSOLID. Forex Broker

NewSolid Forex Broker - Comprehensive Information Guide

1. Broker Overview

　　NewSolid, officially known as New Solid Markets Co., Ltd., was established in 2012. The broker claims to be headquartered in New Zealand, although it has recently indicated a registration in Samoa. NewSolid operates as a private entity, providing services primarily to retail clients interested in trading various financial instruments.

　　The broker's development has been marked by a series of changes, including a shift in its claimed operational base. Initially, NewSolid stated that it was operated by Solid Global Investment Limited, a company based in New Zealand. However, it has faced scrutiny and regulatory warnings, particularly from the New Zealand Financial Markets Authority (FMA), which has blacklisted the broker due to concerns about its legitimacy.

　　NewSolid's business model is focused on retail forex trading, offering access to a variety of trading instruments, including currency pairs, commodities, indices, and cryptocurrencies. Despite its claims of providing a robust trading platform, the broker has faced significant challenges regarding its regulatory compliance and overall trustworthiness in the financial market.

2. Regulatory and Compliance Information

　　NewSolid operates without any valid licenses from major financial regulatory authorities. The broker has not been registered with any significant regulatory body, which raises substantial concerns regarding its legitimacy and the safety of client funds. Notably, the New Zealand FMA has issued warnings against NewSolid, indicating that it may be involved in fraudulent activities.

• Main Regulatory Authorities: None
• Registration Number: Claims to be registered in Samoa (Registration Number: 84459)
• Regulatory License Validity: No valid licenses
• Legal Entities: New Solid Markets Co., Ltd. is cited, but its claims of regulation are unverified.
• Client Fund Segregation Policy: NewSolid claims to provide money segregation; however, this is not backed by any regulatory oversight.
• Investor Compensation Fund Participation: Not applicable, as NewSolid is unregulated.
• KYC and AML Compliance Measures: While the broker may state that it adheres to KYC (Know Your Customer) and AML (Anti-Money Laundering) practices, the lack of regulation raises questions about the enforcement of these measures.

　　Given these factors, it is critical for potential clients to exercise caution when considering trading with NewSolid, as the absence of regulation significantly increases the risk of fund mismanagement or loss.

3. Trading Products and Services

　　NewSolid offers a diverse range of trading products, catering to various investor preferences:

• Forex Currency Pairs: Over 10 currency pairs, including major pairs such as EUR/USD and GBP/USD.
• CFD Products: Includes commodities like gold and silver, indices, and cryptocurrencies (notably Bitcoin).
• Unique Trading Instruments: While NewSolid claims to provide access to various asset classes, the specifics of any unique offerings remain unclear due to the lack of transparency in its operations.
• Product Update Frequency: The broker does not provide clear information about how frequently it updates its product offerings.
• Retail Trading Services: NewSolid primarily targets retail traders, offering a standard trading account.
• Institutional Client Services: There is no substantial information available regarding services tailored for institutional clients.
• White Label Solutions: Not explicitly mentioned in available resources.
• Asset Management Services: No details provided regarding any asset management offerings.

　　Overall, while NewSolid claims to offer a wide array of trading products, the lack of regulatory oversight and transparency raises concerns about the reliability and security of these products.

4. Trading Platform and Technology

　　NewSolid claims to support the MetaTrader 4 (MT4) trading platform, a popular choice among forex traders due to its extensive features and user-friendly interface. However, there are significant concerns regarding the actual availability and functionality of this platform:

• MetaTrader 4/5 Support: NewSolid states it supports MT4, but there have been reports of difficulties in accessing the platform for testing.
• Self-Developed Platform: No information is available regarding any proprietary trading platform.
• Web-Based Trading Platform: Details on a web-based platform are not provided.
• Mobile Application: There is no specific mention of mobile trading applications for iOS or Android.
• Execution Model: The broker does not clearly specify whether it operates on an ECN, STP, or Market Making model.
• Server Location and Technology Infrastructure: Information about server locations and the technology infrastructure supporting trading is not disclosed.
• API Access and Automated Trading Support: There are no details regarding API access or support for automated trading strategies.

　　In summary, while NewSolid claims to leverage the MT4 platform, the lack of verifiable information raises concerns about the reliability of its trading technology.

5. Account Types and Trading Conditions

　　NewSolid offers a limited range of account types and trading conditions, which may not be competitive compared to other brokers:

• Standard Account Conditions:
• Minimum Deposit: $100
• Spread: Average spread on EUR/USD is reported to be around 2.5 pips, which is higher than many regulated brokers.
• Commission: Not specified in the available information.
• Advanced Account Types: There are no details provided about VIP or professional account types.
• Special Accounts: Information on Islamic accounts or corporate accounts is not available.
• Demo Account Policy: NewSolid does not clearly state whether it offers demo accounts for practice trading.
• Leverage Ratios: Maximum leverage offered is 1:100, which can amplify both gains and losses for traders.
• Minimum Trade Size: The minimum trade size is reported to be 0.05 lots.
• Overnight Fees Policy: Specifics about overnight fees or swap rates are not disclosed.

　　Overall, the trading conditions provided by NewSolid may not be attractive for traders seeking competitive spreads and account types.

6. Fund Management

　　NewSolid offers several methods for depositing and withdrawing funds, although details are limited:

• Supported Deposit Methods:
• Credit/Debit Cards: Visa, MasterCard
• Bank Transfers
• E-Wallets: Tether (USDT)
• Minimum Deposit Requirement: The minimum deposit is set at $100, which may vary based on account type.
• Deposit Processing Time: Deposits are generally processed instantly, with no fees reported for deposits.
• Deposit Fees: There are no stated fees for deposits, but withdrawal fees may apply depending on the number of withdrawals made.
• Withdrawal Methods and Restrictions: Withdrawal methods mirror the deposit options, but specific limitations or restrictions are not detailed.
• Withdrawal Processing Time: Withdrawals are typically processed within one business day, although delays may occur.
• Withdrawal Fee Structure: Information on withdrawal fees is sparse, leading to potential hidden costs for traders.

　　Given the lack of transparency regarding fund management, potential clients should approach NewSolid with caution.

7. Customer Support and Educational Resources

　　NewSolid claims to offer customer support through various channels, but specific details are limited:

• Support Channels:
• Email: service@newsolid.com
• Phone: +852 6773 8846
• Online Chat: Not explicitly mentioned.
• Social Media: No details provided.
• Service Hours and Time Zone Coverage: Exact service hours are not disclosed.
• Multilingual Support: The primary language of support appears to be English, with no mention of additional languages.
• Educational Resources: There is no clear information about the availability of webinars, tutorials, or e-books for trader education.
• Market Analysis Services: Daily analysis, news updates, or research reports are not stated.
• Trading Tools: Specific tools such as calculators, calendars, or signal services are not detailed.

　　The overall lack of comprehensive customer support and educational resources raises concerns about the level of assistance available to traders.

8. Regional Coverage and Restrictions

　　NewSolid primarily targets clients from various regions, although specific details on its market coverage are limited:

• Main Service Markets: The broker appears to focus on regions with high retail trading interest, including Asia.
• Regional Office Distribution: There is no information on regional offices apart from the claimed headquarters in New Zealand and registration in Samoa.
• Countries/Regions Not Accepted: The broker does not explicitly list countries or regions from which it does not accept clients.
• Special Restrictions: Given the broker's unregulated status, it is likely that it may not operate in jurisdictions with strict regulatory requirements.

　　In conclusion, while NewSolid presents itself as a forex broker with various offerings, the lack of regulation, transparency, and comprehensive information raises significant concerns for potential clients. It is advisable for traders to thoroughly research and consider alternatives before engaging with NewSolid broker.