Solidinvesting foreign exchange brokers specializing in providing foreign exchange trading services, the company's official website https://solidinvesting.io/sign-up/, about the company's legal and temporary regulatory information, the company's address First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown.
Solidinvesting Forex Broker
Basic Information
Saint Vincent and the Grenadines
2-5 years Suspicious Regulatory License Suspicious Scope of Business High potential riskCompany profile
Rating Index
Intermediate
Expert
Solidinvesting Forex Broker - Complete Information Guide
1. Broker Overview
Solidinvesting, also known as Solid Invest, is an online trading broker that has garnered attention in the financial markets. The company operates under the name High Rock Holdings LLC and is headquartered in Saint Vincent and the Grenadines. Established in 2020, Solidinvesting is a privately held entity that targets a diverse clientele, primarily focusing on retail traders interested in forex and CFDs.
The broker aims to provide a platform for traders from various backgrounds to engage in financial markets, offering a range of trading products and services. However, it's important to note that the company has faced scrutiny regarding its regulatory compliance and operational practices. The development of Solidinvesting has included various milestones, but concerns about its legitimacy and operational transparency have overshadowed its offerings.
The business model of Solidinvesting primarily revolves around retail forex trading and CFDs, providing traders with access to various financial instruments. However, the lack of regulatory oversight raises significant concerns regarding investor protection and fund security.
2. Regulatory and Compliance Information
Solidinvesting is unregulated, which is a significant red flag for potential investors. The broker has not obtained licenses from any major regulatory bodies, including the Financial Conduct Authority (FCA) in the UK and the Commissione Nazionale per le Società e la Borsa (Consob) in Italy. Both of these regulatory agencies have issued warnings against Solidinvesting, advising potential clients to avoid engaging with the broker due to its unlicensed status.
The absence of a regulatory license means that Solidinvesting does not have a regulatory number or an effective oversight mechanism governing its operations. This lack of regulation extends to various regions, leaving clients without the protection typically afforded by regulatory frameworks.
Furthermore, Solidinvesting does not implement a customer funds segregation policy, which means that client funds may not be held in separate accounts from the broker's operational funds. This increases the risk of losing funds in the event of financial difficulties faced by the broker.
The broker claims to adhere to Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance measures; however, the effectiveness of these measures is questionable given the overall lack of regulatory oversight.
3. Trading Products and Services
Solidinvesting offers a variety of trading products, primarily focusing on forex and CFDs. The broker provides access to a selection of currency pairs, including major, minor, and exotic pairs. However, the exact number of forex pairs available is not clearly specified in the available information.
In addition to forex, Solidinvesting allows trading in CFDs across several asset classes, including:
- Indices
- Commodities
- Stocks
- Cryptocurrencies
The broker claims to support over 250 cryptocurrencies, allowing traders to diversify their portfolios. However, details regarding the frequency of product updates and the addition of new trading instruments are not explicitly mentioned.
Solidinvesting primarily caters to retail traders, offering various account types to accommodate different trading needs. The broker does not appear to provide institutional services or white-label solutions, which may limit its appeal to professional traders and institutions.
4. Trading Platform and Technology
Solidinvesting utilizes a proprietary web-based trading platform, which is designed to facilitate trading in various financial instruments. However, the platform lacks support for popular trading software like MetaTrader 4 or MetaTrader 5, which are widely regarded for their advanced features and user-friendly interfaces.
The web trading platform offers basic functionalities, but reports indicate that it may suffer from performance issues, including delays and a lack of essential trading tools. The absence of a mobile application for iOS or Android further limits accessibility for traders who prefer to manage their accounts on-the-go.
Execution modes offered by Solidinvesting are not clearly defined, raising concerns about the transparency of their trading practices. The broker does not provide information regarding server locations or the underlying technology infrastructure, which is crucial for ensuring fast and reliable trade execution.
Additionally, Solidinvesting does not appear to support API access or automated trading strategies, which may deter algorithmic traders from utilizing their platform.
5. Account Types and Trading Conditions
Solidinvesting offers several account types designed to cater to different trader profiles. The minimum deposit requirements and trading conditions for each account type are as follows:
- Explorer Account: Minimum deposit of $3,000, aimed at novice traders.
- Basic Account: Minimum deposit of $5,000, designed for traders with some experience.
- Silver Account: Minimum deposit of $10,000, suitable for intermediate traders.
- Gold Account: Minimum deposit of $25,000, targeted at advanced traders.
- Platinum Account: Minimum deposit of $100,000, intended for professional traders.
The trading conditions, including spreads and commissions, are not explicitly detailed, but it is reported that the broker charges a commission of approximately 0.82% on trades. Leverage offered by Solidinvesting varies, but specifics on leverage ratios for different products are not provided.
The broker does not offer a demo account for traders to practice before committing real funds, which is a common feature among more reputable brokers. Additionally, overnight fees and other trading costs are not clearly outlined, leading to potential confusion for traders regarding the total cost of trading.
6. Fund Management
Solidinvesting supports various deposit methods, including:
- Bank Transfers
- Credit/Debit Cards
- E-wallets (specific options not detailed)
The minimum deposit requirement varies by account type, starting from $3,000 for the Explorer Account. The processing time for deposits is generally prompt, but specific timelines are not disclosed.
However, the broker does not provide transparency regarding deposit fees, which could impact the overall cost of trading. Withdrawal methods are limited, and clients have reported difficulties in retrieving their funds after submitting withdrawal requests. The processing time for withdrawals is also unclear, raising concerns about fund accessibility.
Clients should be aware that withdrawal requests may be subject to delays, and the broker's terms may include hidden fees that are not explicitly stated.
7. Customer Support and Educational Resources
Solidinvesting offers customer support through various channels, including:
- Online Chat (if available)
- Social Media
However, the absence of a dedicated phone support line may hinder effective communication for clients needing immediate assistance. The broker's service hours and time zone coverage are not specified, which could lead to delays in response times.
The broker claims to provide educational resources, but details are scarce. Available materials may include webinars, tutorials, and market analysis services. However, the quality and comprehensiveness of these resources are not well-documented.
Traders seeking market analysis and research reports may find limited offerings, which could affect their trading decisions and strategies.
8. Regional Coverage and Restrictions
Solidinvesting primarily targets a global audience, but specific regions may be excluded from their services. The broker does not provide a clear list of countries where it operates or where it restricts clients.
However, given the lack of regulation and warnings from multiple financial authorities, it is advisable for potential clients to verify whether their jurisdiction allows trading with unregulated brokers like Solidinvesting.
Overall, potential clients should exercise caution and conduct thorough research before engaging with Solidinvesting, as the absence of regulatory oversight raises significant concerns about fund security and operational integrity.
In summary, while Solidinvesting aims to provide a range of trading products and services, the unregulated status and associated risks make it a broker that prospective traders should approach with caution. The lack of transparency regarding trading conditions, fund management, and customer support further complicates the decision to engage with this broker.
廖小任
United States
The website of Solidinvesting can no longer be opened, hateful scammer! The thousands of dollars in my account have not been withdrawn, and the customer service is not replying to my messages at all.
37130
2023-03-01