Note: Solutions Markets is to operate via the website - https://solutionsmarkets.co/, which is currently not yet functional and no information about the company was immediately available. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
General Information & Regulation
Solutions Markets, a trading name of Vitoli Enterprise LTD, is allegedly a forex broker registered in Saint Vincent and the Grenadines that claims to provide its clients with various tradable financial instruments with flexible leverage up to 1:200 and floating spreads from 0.1 pips on the MT4 and Status Webtrader trading platforms via three different live account types.
As for regulation, it has been verified that Solutions Markets currently has no valid regulation. That is why its regulatory status on WikiFX is listed as “No License” and receives a relatively low score of 1.37/10. Please be aware of the risk.
Market Instruments
Solutions Markets advertises that it offers access to a wide range of trading instruments in financial markets, including forex pairs, cryptocurrencies, indexes and commodities.
Account Types
Solutions Markets claims to offer three types of trading accounts - Basic, Pro and Expert, with minimum initial deposit requirements of $250, $2,500 and $25,000 respectively. In comparison, licensed brokers allow setting up a starter account with a minimum deposit of $100 or even less.
Leverage
The specified leverage for different account types at Solutions Markets varies between 1:30 and 1:200. Leverage is adjusted based on account types. For example, clients on the Basic account can experience a leverage of 1:100, the Pro account has a leverage of 1:200, while the Expert account holders can enjoy flexible leverage of 1:200 or 1:30. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.
Spreads & Commissions
All spreads and commissions with Solutions Markets are scaled with the accounts offered. Specifically, the spread starts from 0.6 pips on the Basic account, from 0.4 pips on the Pro account and 0.1 pips on the Expert account. As for the commission, there is no commission charged on the Basic account, while $15/million on the Pro account and $35/million on the Expert account.
Trading Platform Available
The platform available for trading at Solutions Markets is one of the most notable and preferred trading platforms the market offers - MetaTrader4 on Desktop, Web and Mobile apps (iOS and Android), as well as an unknown trading platform called Status Webtrader. The MT4 is highly praised by traders and brokers alike due to its ease of use and great functionality, offering top-notch charting and flexible customization options. It is especially popular for its automated trading bots, a.k.a. Expert Advisors.
Deposit & Withdrawal
From the logos shown at the foot of the home page on Solutions Markets official website, we found that this broker seems to accept numerous means of deposit and withdrawal choices, consisting of credit/debit cards such as VISA, MasterCard and Maestro, as well as Wire Transfer.
The minimum initial deposit requirement is said to be $250.
Withdrawals are subjected to withdrawal processing and handling fees but no more specific is disclosed directly. The typical withdrawal processing time is 2-5 business days, which is not very lengthy but regulated brokers usually execute such requests within 24 hours.
Fees
Solutions Markets states that it will charge an inactivity fee. Specifically, if you dont log in and trade from your account within three months, your account will be subject to a deduction of 10% each month.
Customer Support
Solutions Markets customer support can be reached by telephone: 02073203030, 03455342678, 01743821321, email: support@solutionsmarkets.co. Company address: Intershore Chambers, Road Town, Tortola, British Virgin Islands & 290 Moston Lane, Manchester, United Kingdom, M40 9WB.
Pros & Cons
Frequently Asked Questions (FAQs)
