Solutionsmarkets.co is a forex and CFD broker that offers trading on various assets, such as currency pairs, stocks, indices, commodities, and cryptocurrencies. The broker claims to provide a user-friendly and secure trading platform, as well as competitive spreads, leverage, and bonuses. In this blog post, we will review the main features and services of solutionsmarkets.co and evaluate its pros and cons.
First of all, let’s take a look at the background and regulation of solutionsmarkets.co. The broker is owned and operated by Solutions Markets LLC, a company registered in St. Vincent and the Grenadines. However, the broker does not provide any information about its license or regulatory status on its website. This means that solutionsmarkets.co is an unregulated broker that operates without any oversight or protection from a reputable financial authority. This is a major red flag for any potential client, as unregulated brokers are often involved in scams, frauds, and other illegal activities.
Secondly, let’s examine the trading conditions and platform of solutionsmarkets.co. The broker offers four types of accounts: Basic, Silver, Gold, and Platinum. The minimum deposit for the Basic account is $250, which is relatively high compared to other brokers. The spreads are also quite high, ranging from 2.8 pips to 4 pips on major currency pairs. The leverage is up to 1:400, which is risky and can lead to significant losses. The broker also charges various fees, such as withdrawal fees, inactivity fees, and maintenance fees.
The trading platform of solutionsmarkets.co is a web-based platform that does not require any download or installation. The platform has a simple and intuitive interface, but it lacks many advanced features and tools that are available on other platforms, such as MetaTrader 4 or 5. The platform also does not support automated trading or social trading. Moreover, the platform has a poor reputation among online users, who complain about frequent glitches, slippage, requotes, and manipulation of prices and charts.
Thirdly, let’s review the customer service and education of solutionsmarkets.co. The broker claims to offer 24/7 customer support via phone, email, and live chat. However, many clients report that the support team is unresponsive, rude, or unprofessional. Some clients also claim that the support agents pressure them to deposit more money or refuse to process their withdrawal requests. The broker also provides some educational resources on its website, such as articles, videos, webinars, and ebooks. However, these resources are limited in quantity and quality and do not cover the basics of trading or risk management.
In conclusion, solutionsmarkets.co is a forex and CFD broker that we do not recommend to anyone. The broker is unregulated and untrustworthy and has many negative aspects that outweigh its positive ones. The broker has high spreads and fees, a mediocre platform, a poor customer service, and a lack of transparency and security. Therefore, we advise you to stay away from solutionsmarkets.co and look for a better alternative.
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