Broker Review Solidary Markets

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SOLIDARY MARKETS FX

MT4 & Myfxbook Copy-Trading | Segregates Client Funds | Trust Rating: B

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Table of Contents

SOLIDARY MARKETS FX REVIEW

Is SOLIDARY MARKETS FX the right Forex Broker for you? We conducted an in-depth review in April 2020 to find out the answer and bring it to you!

Another complete and unbiased Review from Engine Forex

Solidary Markets FX is owned by a company named Solidary Markets NZ Ltd. and was founded in the year 2020 by a group of traders with a shared passion, commitment and ideology. They were motivated by their dissatisfaction with the service provided by brokers at the time as well as by the idea of “solidarity” and giving back to society, so they founded the Solidary Markets FX brokerage to embody those ideals.

This broker is based in Dunedin, New Zealand, and offers favourable trading conditions to all types of clientele, from novice or professional trader.

Next to STP (straight through processing) and ultra-low spreads, Solidary Markets FX offers social trading and the “Synergy Trading Project,” a new concept that is essentially an advanced managed accounts/portfolio investment strategy.

OUR RATING: 7.5
The overall raiting is based on review by our experts
�� Reliability: 7 / 10 �� Spread: 8 / 10
�� Offers: 7 / 10 �� Speed of Execution: 8 / 10
�� Customer Service: 7 / 10 �� Uptime: 8 / 10
Trading Conditions
Max Leverage: 200:1
Platform:
Min Deposit: $50
Spread: From 0.1 Pips
Cuts out Dealing Desk: Yes
Methods of deposit and offers
Deposit / Withdraw:
Welcome offer: n/a
Rebates Engine Forex: Coming soon!

SECURITY, MARGINS AND TECHNOLOGY

SECURITY AT SOLIDARY MARKETS FX

In Summary

  • Not licensed & regulated with major regulator
  • Segregates client funds
  • No dealing-desk intervention

Because it is based in New Zealand, Solidary Markets FX does not require a license to operate as a brokerage firm and is not regulated by any major association or commission. Solidary Markets NZ Ltd is not required to be a registered Financial Service Provider (FSPR) in New Zealand, but it does maintain strict operational and procedural policies in all aspects of its business to ensure compliance with all client-facing obligations.

Nonetheless, Solidary Markets FX places security at the centre of its operation. The motto, “good for the trader, good for the broker, good for the world,” conveys the importance of fund safety, commercial terms and customer service.

SMFX clients are assured that their funds are handled with confidence, transparency and integrity.

All clients’ funds are kept separate from the company’s and are securely stored in segregated trust accounts.

The company guarantees that client funds are never used for operational or investment purposes and further offers their clients negative balance protection.

Spreads Comparison

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SOLIDARY MARKETS FX
PEPPERSTONE
THINK MARKETS
IC MARKETS
CMC MARKETS

CHARGES AND MARGINS AT SOLIDARY MARKETS FX

In Summary

  • Spread mark-up or
  • Commission of $2.90
  • Up to 200:1 leverage

Solidary Markets offers three different account types: Standard, Top and Elite. All three accounts offer very similar trading conditions, but starting spreads vary from 0.0 Pips on SMFX’s Top account (for example, with a 24 hours average of 0.14 Pips on the popular EUR/USD pair) to 0.2 Pips on the Elite account to 1.3 Pips on the Standard account.

There are no commissions charged on the Standard account type, whereas commissions of $2.90 per traded lot and $3.90 per traded lot are charged on the Top and Elite account options, respectively.

Margin calls are set to 200% across all three account types.

The minimum deposit requirement is set to $50 for all three account options and there are no minimum requirements for withdrawals.

On all account versions, SMFX clients can select financial instruments from 45 currency pairs, some metals and binary options. Leverage can be set as high as 200:1.

TECHNOLOGY

In Summary

  • MT4
  • Myfxbook
  • SMFX MAM / PAMM

Solidary Markets FX focusses solely on offering its clients the world’s most popular trading platform: MT4. No other trading platform is available for traders at the time of writing, but as is the case for many other brokers that offer trading via MT4 only, SMFX has established a very professional, fast and secure trading environment.

MT4 can be accessed via SMFX’s web terminal as well as the mobile platform for both iOS and Android devices.

Clients registered with Solidary Markets FX can take advantage of social trading via the popular Myfxbook AutoTrade platform, an online automated analytical tool that allows users to connect to the first large social and copy trading community of its kind.

The AutoTrade platform enables users to track, compare, analyse and share their trading activities and, most importantly, to copy the trades and strategies of any top successful trader or trading system. The user can select the desired trader on Myfxbook and copy the strategies directly into the user’s own account at any time with simplicity and ease.

AutoTrade has a service fee of 0.6 Pip per round trip; this covers the payment of the traders that are being copied and are providing the signals.

In addition, Money Managers have access to SMFX’s MAM (Multi Account Management) software, which works seamlessly with the MT4 platform and allows the user to manage multiple trading accounts from one single screen. It is a must-use tool for money managers as it allows dynamic management and follow-up on accounts; managers can open, close, modify and eliminate positions simultaneously. This tool was designed to give money managers an edge in terms of risk management, efficiency and time management on trade execution.

SMFX MAM / PAMM was designed for maximum flexibility and trade execution. Hundreds of accounts can be operated simultaneously with one click and without delays. It is compatible with all Expert Advisors and allows money managers to create their own trade strategies.

Three different VPS options are available to all clients for varying set prizes.

Execution of Speed Comparison

SolidaryMarkets.com Review Visit site

About SolidaryMarkets.com

SolidaryMarketsFX is a forex broker. Solidary Markets FX offer the MT4, WebTrader and Mobile forex trading top platform. SolidaryMarkets.com offers over 65 forex currency pairs, cfds, gold, silver, oil, bitcoin, cryptocurrencies and binary option for your personal investment and trading options.

  • Information
  • Live Discussion
  • Video
  • 13 Widgets
  • More .

Broker Details

Minimum Trade Size: 0.01
Maximum Leverage: 200:1
Minimum to Open Live: $50
Established: 2020
Address: Level 2, The Public Trust Building 442 Moray Place, Dunedin 9016 PO Box 3058, Dunedin 9012, New Zealand
Contact: [email protected], +64 (0) 36694803
Regional offices:
Regulators:
Prohibited countries:

Yes

Yes

Yes

Trading platforms: MT4, WebTrader, Mobile Trader
Web Trading:
Mobile Trading:
ECN:
Currencies: (70+)
Cryptocurrencies: (5+) Bitcoin, Litecoin, Ethereum
CFD: (15+) Gold, Silver, Stock Indexes, Oil, Other Commodities

Yes

Yes

Yes

Yes

Yes

EAs/Robots:
News Spike Trading:
Scalping:
MAM:
PAMM:
Deposit Methods: Bank Wire, Neteller, Skrill
Withdrawal Methods: Bank Wire, Neteller, Skrill

Live discussion

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Consumer Reviews

I want you to know that I was in this broker before and it was excellent but at the end of 2020 and all this year 2020 it became the worst broker there is.

In binary options cheats and what they say is that the computer of us had problems I say because I opened an operation and it did not work then I gave it back to the same option and after 2 minutes of clicking I opened 2 operations.

Get away from this broker

Mar 6, 2020 – 3 Stars Is a good broker but not excelent, I bilieve that the broker have the fees more high by deposit and withdrawal,

low leverage in Top account 1:200 , in binary options the EA is slow it takes how 0.5 seconds to capture price

But in the payments is good all time , in less of 24 hrs

Solidary Markets reviews

On-line since: 2020
Country of origin: New Zealand
Regulation:
Payment options: bank transfer, credit and debit cards, Neteller, Skrill
Minimum account size: $10
Minimum lot size: 0.01 lots
Leverage: up to 1:200
Spreads: floating, from 0.3 pips

The brand belongs to Solidary Markets NZ Ltd. which is located in New Zealand. The broker claims that its activities are beyond the jurisdiction of the New Zealand Financial Services Law of 2008, that is why Solidary Markets is not required to register with the Financial Services Providers (FSPR).

If a company is included in the FSPR, it is not necessarily licensed or regulated in New Zealand. However, a broker must be registered, if it wants to work in the country.

The STP/NDD broker offers trading currencies, metals, and binary options. There can be AUD, EUR, and USD accounts.

Trading account types

Mini is a cent account which perfectly suits beginning traders as well as those who want to practice any strategy or test all well-known advisers. The main currencies are the US and euro cents and that allows clients to reduce the deposit amount necessary for trading hundredfold. After depositing at least $10, the money will be automatically converted into cents and become available in the account on the MetaTrader4 platform. The maximum deposit is $200. The Mini account holders are also allowed scalping.

Traders can open the Standard account with the minimum deposit of $50. Using this account, clients have the opportunity to practice all the trading strategies and the maximum deposit is unlimited. Besides, there are floating spreads from 1.3 pips and no commissions.

The Top and Elite accounts are the most popular among the customers of Solidary Markets. Trading conditions for these accounts are similar. The minimum deposit is 100 US dollars, euros, or Australian dollars while the previous account types allow only US dollars or euros. All trading strategies can be chosen, the leverage is up to 1:200. The differences between these account types are spreads and commissions. There is a zero spread for the TOP account and spreads from 0.2 pips for the Elite one. Commissions are 2.9 for every lot from each side for TOP and 3.9 for Elite.

Trading instruments are the same for all four accounts, that is 45 currency pairs, metals, and binary options.

Moreover, the broker offers MAM/PAMM accounts as well.

The advantages of Solidary Markets:

  • cent accounts;
  • minimum deposit of $10;
  • the average order execution speed of 50 milliseconds;
  • risk control (traders can not lose more than the initial amount chosen for trading);
  • VPS hosting;
  • trading currencies, CFDs, and binary options on one platform, MetaTrader 4.

Withdrawal of funds

Investors have the right to withdraw from 100 to 25,000 USD/EUR on a bank card at a time, from 10 USD/EUR through the Neteller and Skrill payment systems and unlimited amount of funds through bank transfer.

The broker’s website is available in English and Spanish. The customer support works 24/6.

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