Solidary Markets FX Review
Solidary Markets FXwww.solidarymarkets.com
Reason to avoid: No license
Listed Date: November 29, 2018
Top 3 Regulated Forex Brokers
Beware Solidary Markets FX is a Non-Regulated broker. It is NOT SAFE to trade.
- Company name: Solidary Markets NZ Ltd.
- Registration/license: None
- Registration/license requirement: –
Solidary Markets FX is a Forex, cryptocurrency and options broker. The site is owned and managed by Solidary Markets NZ Ltd., based in New Zealand. According to the information provided on the website “Solidary Markets NZ Ltd is not required to be a registered Financial Service Provider (FSPR) in New Zealand but maintains strict operational and procedural policies”, which means the broker is not regulated in New Zealand and most probably is not regulated in any other country. Also, the website states that Solidary Markets FX provides its services only to customers from Spain, however, it is not authorized in Spain. Moreover, Spain’s regulator CNMV has issued a warning against the broker:
“Solidary Markets FX (“SMFX”) http://solidarymarkets.com/ is not authorised to provide the investment services detailed in Article 140 of the Securities Markets Law, or provide the auxiliary services detailed in letters a), b), d), f) and g) of Article 141 of said Law, which includes investment advice, in relation to the financial instruments detailed in article 2 of the said Law, including, to those purposes, transactions on foreign currency.”
As regulation is the most important factor for the safety of any investment, we strongly advice potential traders to invest only with properly licensed brokers. The Financial Conduct Authority in the UK and Australian Securities and Investments Commission are well respected financial watchdogs that do provide sufficient security on the market. Check the list of the FCA-regulated brokers here.