SolidusMarkets
1.0

SolidusMarkets

Closed broker

Cons
  • This broker is closed

Reviewed broker: Solidus Markets (Digital Genius LL)

Location: UK

Established in 2020

Regulation: no

Trading Instruments: Cryptocurrencies, forex, CFDs, ETFs, and commodities

United States and Canada: not accepted

Please be aware, we suggest not to trade with this broker.

Brokers website lacks most basic information about regulation, account opening, minimum deposit requirement, withdrawal requirements, spreads. Upon contact customer support, no answers were given, the support asked for my email and after several days still no contact was made.

Awards

Best Trading Technology – Benzinga Fintech Awards 2022

Best Crypto Trading Platform – Fund Intelligence Operations and Services Awards 2021

Advantages of Trading Cryptocurrencies with Solidus Markets

Solidus Markets goes above and beyond to provide users with a unique and fruitful trading experience, backed by state-of-the-art customer support. Some of the notable advantages offered by Solidus Markets include:

  • Expanded Trading Instruments: In addition to forex, crypto, commodities, and stock indices, Solidus Markets offers a wide range of altcoins such as Solana, Polkadot, Cardano, Dogecoin, Binance, Dashcoin, and XRP. These altcoins can be traded against USD, with select pairs also available against BTC.
  • Comprehensive Trading Tools: Solidus Markets offers professional trading tools, integrated charting software, and the convenience of accessing both traditional and crypto markets from a single account. This all-in-one approach simplifies trading and investing, eliminating the need for multiple platforms.
  • Crypto Trading News: The platform integrates a dedicated crypto trading news section, delivering over 30 news updates per day. With an advanced and customizable charting user interface, traders can view multiple markets simultaneously, enhancing their crypto trading experience.
  • Global Availability: Solidus Markets caters to traders worldwide, including regions like Australia, New Zealand, Scandinavia, and the UK.
  • Attractive Leverage: Solidus Markets offers a more reasonable leverage through liquidity providers, ensuring safety and clarity when trading in this hyper-volatile asset class.

Trading Conditions

Base currency GBP/USD/EUR

Trading size as low as 0.01 lots

Leverage up to 200:1

Heading and scalping allowed

One click trading

ORDER TYPES

On SolidusMarkets, you can place Limit, Market, Stop and OCO Orders.

  • Limit Orders
    Limit order is an order to buy or sell a whole number of an asset at a specific price or better.

    Buy limit order can only be executed at the limit price or lower, and a sell limit order can only be executed at the limit price or higher. A limit order is not guaranteed to execute. 
  • Market Orders
    A market order is an order to buy or sell an asset at the best available price. Generally, this type of order will be executed immediately.

    However, the price at which a market order will be executed is not guaranteed.
  • Stop Order
    A stop order becomes a market order when a stop price is triggered.

    A buy stop order is entered at a stop price above the current market price, while a sell stop is entered at a stop price below the current market price. Stop orders are important for managing risk.
  • Delete & Manage Pending Orders
    It’s super simple to manage your pending orders on SolidusMarkets. You can enter orders and delete them any time (assuming they have not been filled). If you wish to amend an existing order, delete it and re-enter it.

    If your order has been processed and executed, you will not be able to delete or amend it.  You’ll be notified as soon as your order is executed, so you’ll know when this happens. 
  • Cancelled orders
    Some orders types are cancelled when the market closes (such as Limit Orders) or due to a corporate action, or cancelled by you. For corporate actions, as the stock may have been subject to a split or takeover, the underlying price may have moved significantly which may render your order invalid.  
  • Rejected orders
    When placing an order on SolidusMarkets, you may get a rejection notice, which may relate to either the time in which your order is placed or the price you have entered the order. 

Account Types

SolidusX offers five live account types with different pricing models and minimum investment amounts. Again, it is a shame the broker does not provide transparent pricing details per profile.

On a more positive note, all account types benefit from instant order execution and GBP/EUR/USD base currency options. An ‘Elite Club’ is also offered, but this is for retail investors with a high balance requirement of $500,000+ which will be out of reach for most traders.

Our review found very small differences between the highest tier accounts, except for improved pricing conditions. There are no major stand-outs aside from this which is disappointing, particularly given the step-up in initial deposit amounts.

We have highlighted the key account conditions below.

Tyro

  • Variable spreads
  • No leverage access
  • Restricted asset list
  • Low commission fees
  • £500 minimum deposit
  • Financial market newsletter

Optio

  • Small asset list
  • Tighter spreads
  • £2500 minimum deposit
  • Entry-level leverage access
  • Improved commission fees
  • Financial market newsletter
  • Devoted investment professional
  • Unrestricted access to education and webinars
  • Access to trading signals and live news streams

Primus

Access to the above plus:

  • Market-grade spreads
  • Access to industry events
  • Increased leverage access
  • Access to the full asset list
  • £25,000 minimum deposit
  • Devoted investment professional
  • Personalised commission fees available

Centurion

Access to the above plus:

  • No commission fees
  • Institutional spreads
  • Increased leverage access
  • £100,000 minimum deposit

Legatus

Access to the above plus:

  • Loyalty package
  • Priority transactions
  • £250,000 minimum deposit
  • Access to the maximum leverage limit by instrumen

Solidus Markets: Crypto Trading Platform

Before venturing into cryptocurrency investments, it’s crucial to research and review different trading platforms. While the rise of these platforms has brought significant benefits, they have also attracted scams and scandals.

Solidus Markets embodies the characteristics of a secure platform. Backed by Solidus Capital and powered by Devexperts, both reputable companies in the market, Solidus Markets offers enhanced security guarantees to its users. Moreover, the platform’s primary objective is to maximize user profits, providing an additional layer of security and reassurance when making investments.

Solidus Markets also ensures that clients receive their full amounts transacted from exchanges, regardless of market volatility. This unique policy protects clients against potential price drops while transferring funds into their trading accounts, ensuring their investments are safeguarded.

The platform’s exceptional reputation stems from its human support and guidance, allowing clients to trust Solidus Markets as their reliable partner in cryptocurrency trading. With its seamless integration of technology and personalized assistance, Solidus Markets caters to both advanced and beginner traders, setting a new standard in the industry.

Why Choose Solidus Markets’s Trading Platform?

  • Liquidity Providers: Solidus Markets partners with tier 1 liquidity providers, utilizing a multi-layered approach that ensures real-time order book access and seamless execution of trades.
  • Cutting-Edge Technology: Solidus Markets’s trading platform incorporates multiple intuitive features and cutting-edge technology to offer investors a seamless trading experience.
  • SOLIDIFYRE™ Algorithmic Analyzer: Solidus Markets’s proprietary algorithmic analyzer SOLIDIFYRE™, provides up-to-date insights on asset prices, AI monitoring for risk management, leveraging over 140 technical indicators, backtesting capabilities, and real-time news analysis.

Payment Options

SolidusX minimum deposit requirements vary by account type. The lowest initial payment is £500, under the Tyro profile, which is high, particularly for beginners.

Withdrawals can be made to a linked bank account or a cryptocurrency wallet. Bank wire transfer withdrawals are slow, with funds available within four working days. Withdrawals to a crypto wallet are much faster, with average an processing speed of 30 minutes.

How To Make A Payment

  1. Login to the SolidusX dashboard
  2. Choose ‘Deposit’ from the side menu
  3. Select a payment method from the top (crypto, wire transfer, or card) – in this instance, we chose a bank wire transfer
  4. Input the amount to fund and add your banking institution name and location
  5. Select ‘Submit Request’
  6. Payment details will be sent to your registered email address
  7. Follow the directions in the email to complete the payment

Customer Support

Solidus Markets claims to offer support though chat, email, and phone channels, the platform ensures that investors receive the assistance they need, especially during volatile market conditions. However during chat conversation, the support was unable to provide even most basic information about the broker and referred to email assistance, which did not provide any answers either. Be aware.

1.0
Regulation and Security
1.0
Platforms and Features
1.0
Deposit and Withdrawal
1.0
Educational Material
1.0 Overall Rating

top forex broker

 

New Brokers

Regulation: Financial Conduct Authority (FCA)

Regulation: CySEC

Regulation: CySEC Cyprus, FSA St Vincent, FSCA Financial Sector Conduct Authority South Africa

Regulation: UK by the Financial Conduct Authority FCA , Australian Securities and Investments Commission ASIC, Cysec Cyprus, Financial Sector Conduct Authority South Africa FSCA

Regulation: Central Bank of Ireland, ASIC, FSCA, Japan, Abu Dhabi Global Markets (ADGM) Financial Regulatory Services Authority (FRSA) Cyprus Securities and Exchange Commission, Israel Securities Authority

© ForexExplore.com 2007 – 2024 Trading financial instruments carries high level of risk to your capital with the possibility of losing more than your initial investment. This site will not be held liable for any loss or damage in result from using the information within the site including forex Broker reviews 2024, market analysis, trading signals, learning resources and comparison tables. The data within this website is not necessarily real-time nor accurate and do not represent the recommendations of the employees. Currency trading is not suitable for all investors. Before deciding to trade currency or any other financial instrument please consider consider your investment objectives, level of experience, and risk appetite. While we do our best to provide up-to-date information, we strongly encourage you to verify it directly with the broker of your choice.