Solidecn review; spreads and trading conditions

Broker Discussion Forex Brokers
271

Hello,

We are delighted to inform you that our platform offers a low barrier to entry with a minimum deposit requirement of just $10.

However, we do not impose a minimum withdrawal limit. We encourage our clients to consider the network fees associated with blockchain transactions before submitting a withdrawal request. If the blockchain fees exceed the withdrawal amount, we kindly suggest our customers to opt for an alternative withdrawal method with lower transaction fees. T

his approach ensures the maximum benefit for our valued clients.

272

Hello,

Thank you for your inquiry about Solid ECN. We appreciate your engagement with us and the community.

Please note that while we do not impose any withdrawal fees, transactions on the blockchain network may incur certain costs. We advise traders to take these network fees into account prior to initiating a withdrawal request.

For lower network fees, we recommend using stable coins such as USDT TRC20 or USDc on the Polygon network.

We hope this information is helpful and encourage you to reach out with any further questions.

273

What is a swap fee for FX majors?

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274

This looks terribly concerning?!

Are you really unregulated? :open_mouth:

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275

Hello,

We appreciate your inquiry and the opportunity to assist you.

We are pleased to inform you that Solid ECN Broker does not impose swap charges on major currency pairs. Furthermore, overnight fees are waived for a period of seven trading days.

We trust this information addresses your query satisfactorily.

276

Hello,

We would like to inform you that Solid ECN Securities is a regulated entity under the jurisdiction of the Union of Comoros, with the reference number HY00623411. For comprehensive and accurate information, we always recommend visiting our official website.

Should you have any inquiries or require further assistance, please do not hesitate to contact us. We are here to help.

277

that’s just a brokerage licence, which anyone can buy in Comoros, surely? They are not a regulator of forex brokerages?

they say they’re not, anyway

thank you

do please clarify how and by whom you’re regulated as a broker, not just where you’re incorporated or where you bought a licence

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278

Hello,

A) I am writing to seek your clarification on whether you possess expertise in the area of brokerage licensing. It has come to my attention that you have suggested that anyone can purchase a brokerage license. If this is indeed the case, I would appreciate it if you could provide further details on how one might go about doing so.

B) WikiFX appears to be a platform that rates brokerage firms. It has been observed that they tend to assign lower scores to certain brokers and subsequently offer to enhance these scores in exchange for a fee. As a policy, Solid ECN does not engage with entities that employ such practices. We also maintain a strict stance against responding to any form of trolling or spamming activities. Our focus remains steadfast on providing quality service to our clients.

C) In a previous communication, we provided information regarding our own licensing and regulatory compliance. We kindly request that you refrain from sharing opinions on subjects where your expertise may not be comprehensive.

279

this is absolute nonsense

i have never had any previous communication with you at all

i’m simply trying to find out whether you’re regulated, and by whom

it appears that you’re not, but you’re perhaps trying to fool this forum’s inexperienced, beginner members into believing that you are

in my opinion that’s not a good idea

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281

hey, what is a minimum deposit to open an ecn account?

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282

Hello,

We strive to maintain the lowest possible minimum deposit for our customers.

However, due to a recent increase in Bitcoin transaction fees, we’ve had to raise the minimum deposit for Bitcoin transactions to $50.

Despite this, we’ve managed to keep the minimum deposit for USDT and Litecoin transactions as low as $10.

283

But are you regulated as a brokerage?

It’s a “yes” or “no” question, surely?

I’d be grateful if you could answer flangiproxy’s question, please, @SOLIDECN

1 Like
284

Hi,

Absolutely, Yes. Solid ECN Securities is a regulated broker and with the registration number HY0062341. In response to your query, we’ve thoroughly addressed the topic and presented all the necessary details. Attached is a screenshot for your reference, and you can find the complete post at the provided link.

I accessed the link in an incognito window and found the post to be active and visible. It effectively addressed the question by quoting the author.

The author of the post referenced a website that lacks any form of supervision. Upon examining the online activities of this Chinese website from a few years ago, we noticed they were spying on and profiling individuals who downloaded their applications. The rating system on their site appears to be based on advertising and personal opinions.

The post’s author has also alleged that we are attempting to deceive novices and beginners into bringing their business to Solid ECN. This accusation is an affront to both us and the readers. Such behavior is unethical but given the freedom of speech in the online environment, people are allowed to express their views. However, we choose not to engage in such discussions.

We encourage you to visit our reviews on TrustPilot, a reputable website with high authority that employs a fair moderator and a unique algorithm to identify spam and trolls.

The author also suggested that anyone can purchase a license in Comoros. In response to this claim, we questioned whether the author is an expert or possibly a troll from WikiFX. Noting posting links is forbidden on Babypips. This forum, which holds a high authority and ranking, has been used by him to freely create a backlink for WikiFx. The esteemed moderator of the Baby Pips Forum is well-versed in the topic I am discussing here.

As an expert, I would like to take this opportunity to provide more details about the Comoros union regulation for CFD brokers. The minimum funding threshold or reserve is 200,000 USD. This is to demonstrate to the regulatory body that the entity is in good financial standing. Other compliance factors on the Comoros checklist include having a physical office, adhering to AML/CTF rules, undergoing audits, having indemnity insurance, and maintaining transparent pricing.

If you have any questions, please feel free to share them with us.

285

By whom are you regulated?

What’s the name of the regulator that regulates you?

That’s about company registration, and licensing.

They are not a regulator.

You’re choosing to answer a different question from the one you’re being asked.

You’re being asked where and by whom you’re regulated.

You’re choosing, instead of answering that, to say where you’re registered and licensed.

You’re not fooling anyone.

I do have a question: where and by whom are you regulated?

I understand and accept all that, but it doesn’t make them a regulator.

They are NOT a regulator.

Nobody is saying your company isn’t registered or that you’re unlicensed.

We’re just asking by whom you’re regulated as a brokerage. And the question is not going away.

286

AUTONOMOUS ISLAND OF MWALI (MOHÉLI)

COMOROS UNITON

MWALI INTERNATIONAL SERVICES AUTHORITY

IBC REGULATION ACT 2014

INTERNATIONAL BROKERAGE and CLEARING HOUSE LICENSE

Registration number: HY00623411

Company license number: T2023324

Place of issue: Fomboni – Island of Mohéli – Comoros Union

Authorized Capital: 250,000.00 USD

Registered Office in: Bonovo Road – Fomboni – Island of Mohéli – Comoros Union

The undersigned, Registrar of International Business Companies, HEREBY CERTIFIES that, having satisfied all the requirements in respect of incorporation under International Business Company Act, that all the requirements of said Act in respect of incorporation have been complied with. In accordance with the mandate granted to the Office of Mwali International Services Authority by the International Act 2014 of the Autonomous Island of Mwali (Mohéli).

The information, including a PDF file showcasing our license, is readily available on our website. We encourage you to visit our site and review the details at your convenience.

Should you have any questions, please don’t hesitate to ask. We would be more than happy to address your inquiries.

287

I’m not convinced by your “expertise,” myself.

Unlike many of the forum’s members, you don’t understand the difference between an International Brokerage and Clearing House License and being regulated.

Either that, or you’re trying to deceive people, hoping they don’t understand.

You’re out of luck. We do understand.

Nobody was questioning that.

The Mwali International Services Authority isn’t a regulator.

You’ve shown that you’re duly incorporated and you have a license,

Nobody suggested otherwise.

But you’re not regulated, apparently.

Not by the Mwali International Services Authority, anyway, because they’re not a regulator and they don’t pretend to be one, either.

288

Understanding the Mwali International Services Authority in the Forex Landscape

The Mwali International Services Authority, a regulatory body within the Union of the Comoros, specifically on the island of Mwali (Mohéli).

Established under the IBC Regulation Act 2014, this authority is tasked with the regulation and supervision of International Business Companies (IBCs) in Mwali. These IBCs are often set up for international business and financial services, including Forex trading. The Mwali International Services Authority’s role is crucial in ensuring legal compliance and operational legitimacy of these entities.

To conclude our discussion on regulatory matters, we invite our readers to explore further details on our website. There, you’ll find comprehensive information and resources to deepen your understanding. We value your curiosity and are committed to providing you with extensive insights on these topics.

289

That’s about legal compliance of your incorporation and legitimacy of your company registration.

If any of your forex customers complains about you, to the “Mwali International Services Authority” they are told, flat out, that the Mwali International Services Authority is not a regulator of day-to-day forex trading and it’s not within their power to help.

You’re not fooling anyone, here.

1 Like
290

sorry to take issue with you, but he probably IS fooling some people here

absolutely no disrespect to Babypips or its members, but many are complete beginners and a little naïve and don’t even begin to understand the importance and relevance of using a properly regulated broker rather than one “regulated” by a scammy outfit on an obscure Caribbean or Pacific island they’ve barely heard of, which is only a fake “regulator” usually paid for by the scammy counterparty “brokers” it pretends to “regulate” and will never, under any circumstances, rule in a customer’s favor

sickening but true :nauseated_face:

291

Just wondering - have you checked trustpilot re wikifx?