SMFX Solidary-Overview of Minimum Deposit, Spreads & Leverage

General Information & Regulation

Headquartered in Dunedin, New Zealand, Solidary Markets FX is an online trading broker. SMFX Solidary is not subject to any regulation. Many experts and professionals would not trade with an unregulated broker as they cannot offer the same protection to investors that a regulated brokerage firm can.

Market Instruments

Tradable financial instruments available on the SMFX Solidary platform include forex currency pairs, indices, precious metals, CFDs, and more.

Minimum Deposit

Three trading accounts are on offer on the SMFX Solidary platform: Standard, Top and Elite accounts. The minimum initial deposit of the standard account is $50. Although this seems reasonable and proper amount, traders should stay away from it given that this broker is an unregulated one.

Leverage

When it comes to trading leverage, the maximum leverage offered by SMFX Solidary is up to 1:300 for forex trading. Since leverage can amplify gains as well as losses, traders should take extra care when using it.

Spreads & Commissions

SMFX Solidary say it offer variable spreads, but it does not specify spreads on particular instruments. Apart from spreads, there are certain commissions charged.

Trading Platform Available

SMFX Solidary provides traders with the MT4 trading platform, which is an advanced trading platform that is packed with a range of useful trading tools for enhanced trading experience.

Trading Tools

Some useful trading tools are available to Solidary Markets clients. They include VPS, Forex Calendar, Autotrade by MyFxbook, and more.

Deposit & Withdrawal

SMFX Solidary accepts payment methods for account deposit and withdrawal include Credit/Debit Card, Bank Transfer, and some payment processors, such as Neteller and Skrill.

Customer Service

SMFX Solidary has a customer support team that is available 24/5 and can be contacted via the following channels: telephone, email, Live Chat, and social media. There is also a “FAQ” section for most basic common answers.

Accepted Regions

Solidary Markets NZ does not promote nor sell services in any country where it should be mandatory to hold a specific regulation/license to provide such services. Hence, it does not provide Financial Services to New Zealand residents.