Solidary Markets FX is a highly controversial company. On the one hand, it calls itself an educational center, but on the other, it has a reputation as an online broker. Yet, its official website doesn’t mention a single word about trading conditions. At the same time, its address is called fraudulent on various trading forums, and urged to avoid it under any circumstances. Only a thorough review will reveal the full truth about the company.
Brief information about the broker
The homepage of the official website solidarymarkets.com states that it has been operating in the financial market since 2010. However, WHO lists the broker’s starting point as 2012:
The reason for this discrepancy is unclear. In any case, the company has been operating for quite some time, meaning its terms and conditions must be perfect.
Regarding the broker’s documents, they are mentioned at the very bottom of the official website. The legal address is listed in Saint Vincent and the Grenadines. This popular offshore company is willing to provide permits to any interested company. Therefore, it’s safe to say that Solidary Markets FX lacks a proper legal framework.
The broker’s official website is only translated into English. Apart from information about a training academy, it contains nothing else. Judging by reviews of the company, it also offers brokerage services. However, where to find these is unknown.
What is known about Solidary Markets training?
According to the firm’s founders, its students are located in more than 120 countries worldwide, and its trainers have 10 years of experience in the financial industry. These specialists offer the following training:
- diversification of income sources, the basics of increasing savings in a sustainable way;
- the ability to analyze market charts and act accordingly;
- understanding how to correctly and effectively use automated trading systems with complex algorithmic equations;
- Trading psychology. The ability to manage your emotions even during the most dramatic market fluctuations.
What is this project really?
Although Solidary Markets FX is now a trading training company, not long ago it called itself a broker and promised to provide everything needed to ensure investors had the best experience in the financial markets. Numerous online reviews highlight the company’s past:
There are countless similar reports about the company publicly available. But the key point is that users also describe the conditions offered to them by Solidary Markets FX. The scammers (as users directly call them) allegedly located their headquarters in New Zealand, but they don’t service residents of that country and don’t have the necessary license.
The minimum deposit promised was $50, and leverage was ten times higher than the permitted level, at 1:300. Several trading accounts were also offered: Telegram Special, Strategic Forex System Special Account, Standard, Top, and Elite. Instruments listed included Forex pairs, metals, CFDs, cryptocurrencies, and stocks. According to the project’s clients, execution was supposed to be market-based.
Depositing and Withdrawing Funds from Solidary Markets FX
The broker listed several methods for depositing and withdrawing funds from a client account on its website:
- MasterCard;
- VISA;
- Skrill;
- Neteller;
- Bank Transfer.
However, judging by the reviews, your chances of getting your money back when working with this company are extremely slim.
Brief conclusions
After reviewing Solidary Markets FX, we discovered that it’s a broker masquerading as a training center. Apparently, the negative feedback about the project was so overwhelming that they were forced to change their website and rebrand. But, as the saying goes, the internet remembers everything, meaning this scam will never improve its reputation. Be vigilant, though, as fraudulent brokers often reemerge under a new name with the same old scam. Trust only licensed and time-tested companies!
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