You’re right.
The main problem in that regard, though, isn’t just that they’re unregulated: it’s that they dishonestly tell potential customers that they ARE regulated.
Where is the guy who started this? Smells fishy.
We are aware of the individual who initiated this thread with the intention of harming our company’s reputation through false claims. This person is a member of the Babypips Forum, and despite being flagged to the administration, their posts and activities persist. We suspect that one of the Babypips Forum moderators may also be involved.
For those questioning Solid ECN Securities’ regulatory status, we encourage you to visit our website to view our regulatory and registration documents.
Referring to WikiFX, we have provided a screenshot from our inbox in our main discussion, which shows that WikiFX assigns low scores to companies and then requests money to improve the rating.
So Brokers now claim they’re regulated and they aren’t? Does anyone actually have a broker they really trust a lot, seems like a hard thing these days?
Not just “now,” it’s been going on for years. But maybe more, now.
It’s not that difficult. If your account is regulated by CFTC, ASIC, FCA (UK) or any proper European Union regulator, you avoid at least 95% of problems that might otherwise arise.
Oanda and forex.com are both ok.
Why would the moderators be involved? That makes no sense.
The problem stems from a false claim posted on this forum, which the moderators have not verified for accuracy, despite our contacting the moderator director weeks ago to request a review of the topic and identify the trolling user responsible.
Trolls and spammers often make unfounded accusations against corporations, amounting to defamation, blaming corporations for their failures.
The intention behind this topic was to tarnish our reputation; however, these individuals fail to grasp the workings of the internet and online businesses. Our daily registration records indicate a substantial increase since April 12, which coincides with the initial post on the topic.
@Pipsteroid, please contact our customer service. You have been incredibly helpful, and we would like to offer you $100 as a token of our appreciation for your work.
Being “regulated” in the Seychelles or Marshall isles or wherever it is isn’t regulated. Why would they have to visit your website. Just post it here on the forum.
Thanks for posting this. A few years back I asked via chat where their servers were located as they was a remarkable latency and they outright lied. I suspected it was Ukraine since even the mt5 platform said UKR.
They “outright lie” about absolutely everything. Even things (like whether they’re regulated, and who their CEO is, and where they’re based) that are trivially easy to verify.
Looks like they want to attract only the most gullible and most ill-informed people in the world, who do NO due diligence at all.
Not sure if it has changed but I remember their deposit policy said scam all over it. If you went below a certain equity you could only deposit a certain amount then…combined with 1000x leverage their model was built even more so in their favor.
I saw that broker as just a Money Honey Pot bucket shop.
They’re also the same people as the “Zforex” scammers.
They deny it (lol) but they share an address, phone number, servers, director whose initials are ZZ, they both bought a so-called “licence” in the same place, and they both claim to be regulated by an “institution” which says - when directly asked - that it has no regulatory powers.
I suspect they’re maybe just so used to lying about everything that it’s a reflex for them.
Without being allowed to spam this forum and ForexFactory they’d probably have no customers at all, because the review sites really do point out that they’re not safe to use.