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Updated on March 5, 2024

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Our Review Method ▲

In our rigorous review process, a team of seasoned financial specialists, boasting more than 20 years of experience in Forex trading, carries out an exhaustive evaluation of various trading services. Our team delves deep into the investigation of fees, assesses the trading platforms, and verifies adherence to regulatory standards. We also interact directly with customer support and conduct actual trades to gain a real-world understanding of the trading conditions. This comprehensive approach enables us to provide informed insights and advice on why we recommend avoiding SolidCFD due to the issues we've identified.


Is SolidCFD Scam or Legit Broker? ▲

SolidCFD has been unequivocally identified as a fraudulent entity. The brokerage is incorporated offshore and fails to possess any form of legitimate authorization from a renowned and reputable financial regulatory body. Trading with SolidCFD is categorically NOT SAFE. Our guidance strongly discourages engaging with offshore brokers because the financial services they offer cannot be deemed trustworthy. The absence of a proper license indicates a lack of accountability and protection for traders, making it a risky endeavor to invest with such entities.


  • Registered in: Vanuatu

  • Type of License: Offshore License

  • Is SolidCFD safe to trade: No

  • Recommended Licenses: FCA in UK & ASIC in Australia


What is SolidCFD? ▲

Owned by LOK Marketing Ltd, SolidCFD is an offshore Forex brokerage registered with the Vanuatu Financial Services Commission. The allure of such a license lies in its rapid issuance and minimal cost. It's a known fact that approximately 2% of Forex entities commence operations without any licensing, choosing to set up in regions like Vanuatu or the Caribbean island of Nevis instead. The cost of registration in Vanuatu hovers around USD 2,000, with a security bond requirement of USD 50,000. Conversely, obtaining a license from the UK’s Financial Conduct Authority entails an expenditure of USD 50,000, plus an additional USD 100,000 in capital for the STP license, exclusive of client deposits.


Pros and Cons

  • The pros of engaging with SolidCFD are overshadowed by its significant cons. The brokerage's offshore registration and lack of a reputable license are major red flags, signaling potential risk to traders' investments.


Cons:

  • Offshore registration raises questions about the broker's legitimacy.

  • Absence of a reputable regulatory license means less protection for traders.

  • The low cost and speed of obtaining an offshore license do not compensate for the lack of security and oversight.


Pros:

  • None significant enough to outweigh the cons.


SolidCFD Review Conclusion ▲

Our firm recommendation is to initiate trading accounts exclusively with brokers that are regulated by esteemed global authorities. These authorities ensure compliance with a rigorous set of rules and have earned a commendable reputation over their operational years. Traders should prioritize dealing with well-regulated brokers, such as those in the UK or Australia.


SolidCFD Update ▲

Subsequent to our comprehensive research, it has come to light that the SolidCFD website is no longer active. In the realm of forex trading, the security of funds is paramount. Therefore, any offerings or solicitations from SolidCFD should be approached with utmost caution and preferably avoided altogether to ensure the safety of your investments.


When considering alternatives, brokers like Interactive Brokers, City Index, and AvaTrade stand out. They not only offer the security of stringent regulation but also bring to the table comprehensive trading solutions that can meet the needs of both novice and seasoned traders.

SolidCFD

IG

Swissquote

Ranking

Is it safe?

Advantages

None

No

Low Fees

Yes

⭐⭐⭐⭐⭐

Education

Yes

⭐⭐⭐⭐⭐

Compare SolidCFD with its peers

SolidCFD

IG

Swissquote

Ranking

Is it safe?

Advantages

None

No

Low Fees

Yes

⭐⭐⭐⭐⭐

Education

Yes

⭐⭐⭐⭐⭐

Compare SolidCFD with its peers

SolidCFD
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In a Snapshot

Name: SolidCFD

Website: www.solid-cfd.com

Reason to avoid: Offshore license

Date: July 6, 2018

⚠️Caution: SolidCFD operates as an unregulated broker, making it UNSAFE for trading activities.⚠️

SolidCFD Review 2024

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