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.
Pros and Cons
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.
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.
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.
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.
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.
