NEWSOLID

Note: NEWSOLID's official website: https://www.new-solid.com/ is currently inaccessible normally.

NEWSOLID is a foreign exchange broker registered in New Zealand. It supports trading via the MT4 platform and provides opportunities for simulated trading. The broker provides a leverage of 1:100 and a EUR/USD spread of 1.8 pips. In addition, NEWSOLID is not subject to any legal regulatory oversight currently.

Pros and Cons

Is NEWSOLIDLegit?

NEWSOLID lacks regulatory oversight from any financial institution and has been blacklisted by several financial regulatory bodies. Even worse, the Financial Markets Authority of New Zealand (FMA) has included it in its list of suspected fraudulent entities. In addition, the domain of this company was registered on December 6, 2021, was updated on November 2, 2024 , and will expire on November 6, 2025.

Trading platform

NEWSOLID claims to support trading through the MT4 platform. However, you are unable to download MT4 from NEWSOLID's website, and no free demo account is provided. This is a dangerous signal, and the lack of regulation combined with warnings from New Zealand regulatory agencies raises suspicions that you may face significant risks.