Table of Content
SolidusX Review – Who Is Behind SolidusX.Com?
Table of Content
SolidusX broker is under the ownership of Digital Genius Group Ltd. In general, an interesting fact is that they are registered in St. Vincent and Grenadines in 2021. But even this period is enough to determine if the broker is legitimate or not. The broker claims to offer top-to-bottom levels of protection for their traders.
To find out if all this is true and if can you trust this broker, read carefully our latest SolidusX review.
|Headquarters||St. Vincent and Grenadines|
|Review Rating||4.6 on Trustpilot|
|Spread||From 6 pips|
Is SolidusX Legit or a Scam Brokerage?
SVG as the country decided not to provide licenses for companies. This country is known as the hub for scammers, therefore it’s really hard to track all of them. Therefore, they suggest companies opt for licenses in countries where they operate.
SolidusX trading company doesn’t reveal any licenses on their website. It’s because they don’t have any. We checked some of the most trusted regulators worldwide. Some of those are ASIC, BaFin, and FCA. Yet, none of those have a SolidusX broker in their register. If you didn’t expect this broker as a scam, now you can start.
Even though they advertise negative balance protection, bank guarantees, and segregated bank accounts, we can’t trust them. Simply, no institution is monitoring its activities. Therefore, anything they claim now is questionable. But if you take any SolidusX review, we quickly get confirmation that this is another investment scam.
SolidusX Trading Software Overview
We are not surprised to see only proprietary web traders with this broker. Without a trading license, there was no point to bother getting trusted software. What you can get from their web-based platform are just basic options. Starting with events calendar, news, basic technical analysis tools, and several charts and indicators.
However, if you are looking for advanced EAs and social trading look somewhere else. This broker doesn’t have any advanced features in their offer. In addition to that, have in mind that proprietary platforms are unsafe. Many offshore brokers have used such platforms to manipulate information. Which leads to fictive market information and massive pressure from the company.
With this in mind, we suggest anyone find a reliable broker with a license. Especially ones that offer Meta Trader or cTrader. Primarily, you can get there a demo account or even a micro account to test the company. If you don’t like it, you can close your account at any time without questions asked. Not to mention harassment.
SolidusX Account Types Available
For the account offer, this broker remains mysterious. Nothing is specified. Of course, you should get better conditions, but how much better stay unknown. Those account types are:
- Tyro – $500
- Optio – $2.500
- Primus – $25.000
- Centurion – $100.000
- Legatus – $250.000
The minimum requirement is double the industry average. And almost 50 times higher than the licensed brokers’ requirement. With the unclear spread and leverage you don’t know what you are getting into. Only Tyro’s account has fixed spreads, while others have floating ones.
In general, legitimate brokers provide traders with insight into trading platforms and conditions. Whether through a micro or demo account, it’s better than guessing. However, this broker doesn’t have any of those services available.
Available Trading Instruments at SolidusX
On the positive side, SolidusX broker provides access to all 5 major instrument classes. On the negative side, that doesn’t matter because they are a scam broker. Nevertheless, here are the groups:
- Forex – USD/JPY, AUD/NZD, HKD/SGD
- Commodities – natural gas, platinum, silver
- Shares – Walt Disney, Microsoft Corp, Bank of America
- Indices – AU 200, BE 20, ITA 45
- Cryptocurrencies – BTC, BCH, ETH, XRP
With unknown trading conditions, investing any money is risky here. Especially through volatile assets like cryptocurrencies. After registration, we could see spreads from 6 pips for some forex pairs. Which is insane compared to the industry average of 1.5 pips. Yet, fees, rollover, and commission remain unknown here.
Even though the broker claims to provide negative balance protection we can’t test it without a deposit. But if we are going to trust SolidusX reviews, that was just another false statement. Many traders complained about harassment, withdrawal issues, and unexpected money losses.
Deposit and Withdrawal Procedure for SolidusX
As for the funding methods this broker accepts standard ones. Those are:
- Debit/credit cards
- Bank transfers
- Cryptocurrency transfers
Deposits are processed instantly, except for bank transfers and there are no deposit fees. However, withdrawals are processed on daily basis in a time range of 2 hours during the day. Important to realize is that verification must be completed to request a withdrawal. Moreover, you can only make a withdrawal request for a bank or cryptocurrency transfer.
That’s where clients have the most issues. Most brokers make up some issues with verification to prolong the withdrawal processing time. Afterward, come non-existent withdrawal fees and taxes. Have in mind that all fees they can charge from trading balance. There is no need to pay extra money.
Got Scammed by SolidusX? Get Your Money Back!
Share your story with us. We can prevent other traders from getting into their illicit broker scams. Tracing money these days is easily done. Especially with bank card transfers where you have a chargeback as a solution.
Even though crypto transactions are encrypted and hardly traceable, there is a solution too. Our specialized team has access to CipherTrace software to track those transactions. Once you determine who holds your money, you can start your fund recovery process.
Don’t let them slip away with your money. Get in touch today and book your first meeting now!
- Offshore broker without regulation.
- Non-transparent fees and commissions.
- Extremely high spreads from 6 pips.
- Untrusted trading platform.
- Many negative reviews.
FAQs About SolidusX Broker
Is My Money Safe With SolidusX?
No. They don’t have any regulation, therefore all security statements are fictive.
What Is The Minimum Deposit for SolidusX?
The minimum deposit requirement is $500 for the Tyro account, double the industry average.
Does SolidusX Offer a Demo Account?
No. Besides live trading accounts traders don’t have any risk-free option to check the platform.