Solidary Markets Review
Headquartered in Dunedin, New Zealand, Solidary Markets FX is an online trading broker that offers competitive trading conditions to all types of traders, from novice to professional traders alike. In addition to STP (straight-through processing) execution and tight 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.
Solidary Markets Review, Pros & Cons
- Choice of advanced trading platforms
- A selection of educational resources
- A wide variety of trading products
- No New Zealand or USA clients
- Unregulate trading brokerage
- No MetaTrader 5 platforms
- Not the lowest commission fees
In this detailed Solidary Markets review, our online broker research team has covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
Solidary Markets Overview
Solidary Markets is an online financial services provider that provides traders with a range of sophisticated trading platforms to enable them to trade several financial markets online. Traders are provided with some useful trading tools and educational materials, whilst a professional-client support team is on hand to assist them. The broker offers multiple trading account options with a required minimum deposit of $50 and a leverage of up to 1:300.
Solidary Markets Regulation
Solidary Markets NZ Ltd is not required to be a registered Financial Service Provider (FSPR) in New Zealand and by consequence, it is not regulated by the FMA in New Zealand but maintains strict operational and procedural policies in all aspects of its business to ensure that it is up-to-date on its client’s obligations. Many experts and professionals would not trade with an unregulated broker as they cannot offer the same protection to investors that a regulated brokerage firm can. Please see our trading broker reviews for alternative regulated brokers.
Solidary Markets Countries
Solidary Markets NZ does not promote nor sell services in any country where it should be mandatory to hold a specific regulation/license to provide such services. Hence, it does not provide Financial Services to New Zealand residents.
Some Solidary Markets features and products mentioned within this Solidary Markets review may not be available to traders from certain countries because of legal restrictions.
Solidary Markets Platforms
The broker provides traders with the MT4 trading platform, which is an advanced trading platform that is packed with a range of useful trading tools for enhanced trading experience. The platform is widely used by many forex and CFD traders across the globe, owing to its intuitive yet user-friendly interface. It is available in desktop, web, and mobile versions.
There is also the SMFX trading platform, which is the broker’s proprietary trading platform. It is available as a WebTrader and a mobile app. SMFX WebTrader allows you to trade Forex, Metals, and Binary options using a personalized trading server plugin. It supports all browsers such as Internet Explorer, Google Chrome, Mozilla Firefox, and there are no installations required. The mobile trading app narrows down all the features of the platform to the screens of your Android or iOS mobile device.
Solidary Markets Trading Tools
Some useful trading tools are available to Solidary Markets’ clients. They include VPS, Forex Calendar, Autotrade by MyFxbook, and more.
Solidary Markets Education
There is a trading blog with multiple articles and an FAQ section that offers quick answers to some of the most common questions traders have.
Solidary Markets Instruments
The following trading instruments are available at Solidary Markets: forex, indices, precious metals, CFDs, and more.
Solidary Markets Accounts & Fees
The broker offers the following trading account types: Standard, Top, and Elite Accounts. They all have a minimum required deposit of $50 and a leverage of up to 1:300.
As broker fees can vary and change, there may be additional fees that are not listed in this Solidary Markets review. It is imperative to ensure that you check and understand all of the latest information before you open a Solidary Markets broker account for online trading.
Solidary Markets Support
The broker has a customer support team that is available 24/5 and can be contacted via the following channels: telephone, email, Live Chat, and social media.
Solidary Markets Deposit & Withdrawal
The broker accepts the following payment methods for account deposits and withdrawals:
- Credit/Debit cards
- Bank transfers
- Online payment processors, such as Neteller and Skrill
Solidary Markets Account Opening
Account opening is easy and straightforward; simply click on the ‘Register’ button and choose either to create a personal or business account. Fill in the required fields and wait for account approval.
It is imperative to ensure that when you are going through a broker application, you clearly read all of the broker’s terms, conditions, and policies. Only proceed if you fully understand and agree to them.
Solidary Markets Summary
Solidary Markets is an online financial services provider that offers several financial instruments that can be traded online using a range of intuitive trading platforms. Traders are also provided with a range of trading and learning tools, and there are multiple account options to suit all kinds of traders. However, the broker is not regulated by any known financial authority at the moment which may deter some traders.
Since the risk factor is very high in Forex trading, only free funds should be used for such trading. If you do not have the extra capital that you can afford to lose, you should not trade in the Forex market. Forex trading is suitable only for institutional or experienced private traders, who can resist the financial losses that may substantially exceed the value of margins or deposits.