Score

1.15 /10
Danger

SolisMarkets

South Africa

1-2 years

Suspicious Regulatory License

Suspicious Scope of Business

Suspicious Overrun

High potential risk

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Score

Regulatory Index0.00

Business Index4.23

Risk Management Index0.00

Software Index4.00

License Index0.00

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Licenses

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Warning: Low score, please stay away! 2
Previous Detection : 2024-12-23
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The South AfricaFSCA regulation (license number: 45583) claimed by this broker is suspected to be clone. Please be aware of the risk!

WikiFX Verification

SolisMarkets · Company summary
SolisMarkets Review Summary
Founded2014
Registered Country/RegionSouth Africa
RegulationSuspicious FSCA clone
Market InstrumentsForex, Indices, Commodities, Shares, Cryptocurrency
Demo Account
LeverageUp to 200x
Spread/
Min Deposit$5000
Trading Platform/
Customer SupportLive chat, contact form
Tel: +27311095949
Email: support@solismarkets.com
Social media: Facebook, Twitter
Address: 4 Albury Road, Hyde Park Johannesburg Gauteng 2169

SolisMarkets Information

SolisMarkets is supported by Eklavya Asset Management LTD PTY, a South African forex brokerage company established in 2014. It focuses on trading in Forex, Indices, Commodities, Cryptocurrencies and Shares.

A demo account is available for practicing and there are 5 tiered live accounts available, but the minimum deposit is extremely high at $5000 from the INTRO account, which is much more suitable for high-net-worth investors instead of beginners.

Apart from that, the broker also claims to offer free educational resources with video courses on fundamental product trading as well as in-depth market analysis.

However, the broker operates with a regulatory status of suspicious FSCA clone, indicating it might disguise as another reputable company to lure customers.

SolisMarkets' homepage

Pros and Cons

ProsCons
Demo accountsSuspicious FSCA clone
Tiered live accountsNo trading platform access links
Roch educational resourcesHigh minimum deposit
Not suitable for beginners

Is SolisMarkets Legit?

SolisMarkets is currently under the regulatory status of suspicious FSCA (Financial Sector Conduct Authority) clone, with License numbering 45583.

Be cautious with this broker because it might pretend to be another regulated company.

Regulated CountryRegulatorRegulatory StatusRegulated EntityLicense TypeLicense Number
FSCASuspicious CloneEKLAVYA ASSET MANAGERS (PTY) LTDFinancial Service Corporate45583

What Can I Trade on SolisMarkets?

With SolisMarkets, you can trade a wide range of market instruments, mainly in five asset classes: forex, commodities, indices, shares and cryptocurrencies.

Forex: Forex, or foreign exchange, is the global marketplace for trading national currencies against one another, facilitating international trade and investment.

Commodities: Commodities are basic goods used in commerce that are interchangeable with other goods of the same type.

Indices: Indices are statistical measures that represent the performance of a specific group of assets, such as stocks or bonds, helping investors gauge market trends and economic health.

Shares: Shares represent ownership of certain big companies like Apple, Amazon, Tesla, etc. enabling traders to participate in their growth and profits.

Cryptos: Trade digital currencies like Bitcoin, Litecoin and Ethereum against USD, tapping into the evolving crypto landscape.

When dealing with investment, putting eggs in different baskets to scatter risks is a primary principle you should comply.

Tradable InstrumentsSupported
Forex
Commodities
Indices
Cryptocurrencies
Shares
ETFs
Bonds
Mutual Funds
What Can I Trade on SolisMarkets?

Account Type/Spread

SolisMarkets offers demo accounts for strategy testing and practicing as well as 5 tiered live accounts with different trading conditions and benefits.

One fact that needs your attention is that entry level is extremely high comparing to industry average, from $5000 in INTRO account, to $100000 in VIP account.

And the higher tier your account is, the better spread and swap rate you will enjoy.

Account TypeMin DepositSpread (CFDs)Spread (Crypto)Spread (Commodities)Spread (Indices)Spread (Forex)
INTRO$5,0002050151010
PLUS$10,00015401288
PREMIUM$25,00010301066
EXCLUSIVE$50,000520844
VIP$100,00000000
Account comparison

Leverage

Leverage, a trading tool that enables you to control larger positions with smaller capital, should always be used cautiously, with risk management indispensable for every investors.

With SolisMarkets, leverage level is up to 1:50 in INTRO and PLUS account, 1:200 in PREMIMUM, EXCLUSIVE and VIP account.

Account TypeLeverage
Intro1:50
Plus
Premium1:200
Exclusive
VIP

Trading Platform

SolisMarkets claims to offer a web and mobile platform, but there's no download link or access link. You should seek clarification from the broker directly for this info.

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