Solidecn review; spreads and trading conditions

Dear @cashisking86

Thank you for your message. We suggest Solid ECN market watch from MetaTrader 5 platform which has the latest update.

But, to have an insight of the available instruments, swap rates, commissions and leverage please find the sheet on google drive here .

Should you need anything, please do not hesitate to contact us.

Hello @SOLIDECN,

I see that you offer a %40 deposit bonus. Does it support the margin in drawdowns?

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Dear @mr.evander,

Thank you for sharing your question with the community.

The Solid ECN deposit bonus supports both margin and equity. The credit won’t be canceled or removed in draw-downs. This promotion gives you the advantage of holding your positions longer when they suffer from a high volatility market.

Experienced scalpers are aware of fake breakouts, and our promotion gives them more confidence in trading breakouts or pull-backs.

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Could you share more information on how to identify a fake breakout?

Thank you.

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Hi,

I suggest using RSI overbought or oversold feature with the following settings to filter fake breakouts.

  • Period: 5
  • Levels: 20 and 80

I hope it helps. :pray:t2:

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Hi,

How much is the bonus, and is there a minimum deposit for having the promotion?

Dear @Yishma,

Thank you for leaving your message. The deposit bonus is %40, and the minimum deposit is $10.

Should you have any questions, please do not hesitate to write us.

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One of the essentials in trading forex and other leveraged products is having more margin. It is a common and rookie mistake to trade in a high volatility market such as cryptocurrencies with a low balance.

Solid ECN has a backup plan for its customers. We boost deposits by %40 and it is up to $2,000 per account. All profits are free for withdrawal. Where most companies remove the bonuses on stop-out and margin calls, the given credit at Solid ECN is %100 tradeable, and it can be lost.

Solid ECN buys itself %40 more risks to make sure the clients are trading with more confidence. Try us today, and let us know about your trading experiences with us.

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The popular trading platforms are narrowed to a few. We chose the newest and the most advanced platform that is available in the market, the MetaTrader 5!

Why MetaTrader 5?

Contrary to commune belief, MetaTrader 5 is not an upgrade of MT4. The MT4 platform was developed for trading in the Forex environment, whereas MT5 was coded for CFDs, Stocks, and futures access. To be short, MetaTrader 5 is for more experienced and advanced traders, but before we go with the MT5, at Solid ECN we ran a survey of the traders we know, and found out that most rookies and novice users are already with the MT5 platform, and for the first time the MT5 users have surpassed the MT4’s!

  • MT4 has 9-time frames, whereas MT5 offers 21-time frames. More time frames assist technical analyzers to have a better conception of the market movement.
  • MT 4 has 4 pending orders, whereas MT5 provides 6 types of pending orders.
  • MT 4 doesn’t have the market depth, but MT5 market depth is accessed within the chart.
  • MT5 has the Economic calendar on default.
  • MT4 has 4 types of pending orders, whereas MT5 holds 6 types.
  • MT4 allows hedging only, whereas MT5 allows both hedging and netting on request.
  • MT5 has 38 technical indicators, 44 analytical objects and unlimited charts
  • Partial order filling policies (fill/kill or cancel return) is another advantage of the MT5 for advanced traders.
  • The strategy tester of the MT5 platform is multi-threaded but MT4 is single-threaded.

MetaQuote corporation has been sending announcements about stopping MT4 updates. Therefore, we believe it was in the best interest of all parties to go with the MT5 platform!

Which trading platform are you using? And Why? Comment below!

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Thank you for the support, I opened an account. I like the spreads and the verity of account types.

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7 Benefits of Trading Indices

  1. You can take a consolidated view and avoid stock risk
  2. You can trade both ways; long side and short side
  3. You can trade in index futures with lower margins
  4. You can hedge your risk with index futures
  5. There is limited liquidity risk in these index futures
  6. You can use index futures to diversify your portfolio
  7. Cost of trading index futures is much lower

Do you have a trading basket? What instruments are you trading? Do you only trade forex or you mix it up with indices and/or cryptocurrencies?

Feel free to share it with the community. We would like to hear what you do and how you do it.

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Pros and Cons of setting a take profit for your trade


Pros

Ensure a profit
Minimize risk
No second-guessing


Cons

Not good for long-term traders
Can’t take advantage of trends
Might not be executed at all​


Pros Explained
Ensure a profit
: A TP order is set to ensure that a day trader makes some level of profit. If your order is executed, you are guaranteed to make money on the trade.

Minimize risk: A take-profit order allows you to take advantage of a quick rise in the market rather than potentially missing the chance to sell at a profit.

No second-guessing: Traders who use TP orders don’t have to decide whether it is better to buy or sell in the moment. The trade happens automatically without the risk of second-guessing the decision.​


Cons Explained
Not good for long-term traders.

Take-profit orders are a short-term strategy to guarantee that you make some level of profit quickly. They aren’t appropriate for long-term traders who are willing to tolerate more ups and downs in the market in order to make a larger profit in the end.

Can’t take advantage of trends.
Take-profit orders don’t allow you to take advantage of longer-term trends. Trend traders who use take profit targets are often frustrated when they’ve recognized a good trend and get out too early.

Might not be executed at all.
Having a take-profit order in place doesn’t guarantee that the sale will happen. If the market never rises to the TP level you set, you may still have to sell at a loss.​

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Solid ECN Refund Policy

There is no perfection in services online, and when funding is involved, we believe that the merchant should have a transparent refund policy. Solid ECN Securities acknowledges customer rights, and for that reason, we drafted the Solid-Refund policy.

There are circumstances when it is essential to return payment. Clients may submit a refund petition if the merchant service was not as described or the service was not functional or if the client justifies the reason.

We tried to make the money return policy concise, simple, and clear to give our customers a feeling of security. That is why we guarantee our services, and if it wasn’t as described the consumer has the right to apply for a money return.

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How could I apply for that negative balance protection? I didn’t see the option in the client portal.

Volatility often occurs in the market. Solid ECN has always been committed to the highest standards, with the Solid-Shied feature, the traders don’t have to worry about having a negative balance. This means that even under highly volatile situations when margin calls and stop-outs do not function accurately, no client is responsible for paying back a negative balance.

Solid-Shield automatically adjustments the balance to zero in case the balance becomes negative after a stop-out. The process of reset is instant.

Good afternoon, do you charge commission? What’s your eurusd spread?
Is it possible to use EA?

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Dear @varsine,

Thank you for sharing your questions with the community.

At Solid ECN, we try our best to reducing the trading costs by curbing the spread at the minimum possible.

Spreads can be tighter or bigger depending on the product involved, the trading session and economic condition. Therefore, our specialists integrated five tier 1 liquidity providers and banks in order to offer a unique trading experience in the market tik by tik. The difference between ASK and BID price shown in the Solid ECN market is exported from a provider which has fees/spread less than its rivals at the price tik. We have been able to utilize MetaTrader 5 new features to keeping things neat, steady and cost-effective at the same time.

The commissions for executing 1 standard lot with Solid-ECN account type are set as follows.

Major pairs: $3
Cross pairs: $5
Minor currency pairs: $8
Metals: $8
Energies: $0.6
Indices/Nasdaq: $0.4
Cryptocurrencies: %0.08 of the price in USD

Solid-Standard and Solid-Micro accounts have no commission. However, the spreads are slightly wider in comparison to the ECN account.

I will explain about using Expert Advisers on the next post.

Robots and expert advisers are one of the best options for trading securities since human emotions won’t be involved. At Solid ECN we understand that using trading robots can reduce stress levels because it takes away the overthinking strain of trading.

Therefore, we nurtured a safe and fast trading environment on our MT5 platform where you can utilize the automation trading features with no additional concerns. All you need is set up your EA to the chart and let it do as you programmed it.

I saw that Solidecn grants deposit bonus but I did not see the requirement for withdrawal? Does it mean that I can’t withdraw it? To withdraw the deposit bonus, what do I have to do? I need carity on this please

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Dear Mr @Bemo,

Thank you for sharing your question with the community.

With the Solid-Credit promotion, you can trade more efficiently, and be more confident by having more money on your balance. The biggest advantage is that the bonus is trade-able, and you are free and entitled to withdraw profits earned from the account with Solid-Credit anytime with no limitations.

The cap for Solid-Credit is $2,000 per client.
Only verified clients have full access to Solid-Promotions.
The bonus supports both margin and equity when the account suffers from draw down. Meaning the bonus can be used for executing orders.
The bonus cannot be withdrawn.

Should you have any questions, please do not hesitate to share it with the community.