Powerful service advertised on a highly suspicious brokerage website is not the kind of service you should ever choose. While succeeding in Forex markets includes the will to risk, jeopardizing your entire life savings with this broker will not bring you any profit.
For a detailed elaboration on how this scam unfolds and how you can recover lost deposits, read the following Solution FX review.
| Regulated by: | Unregulated Broker |
| Is This Company Safe? | This scheme is a dangerous fraudulent entity, as the authorities have warned. |
| Known Websites: | solution-fx.com |
| Have Warnings from: | MSC, CSA, ASC, NSSC, OSC, CONSOB |
| Registered in: | United Kingdom (alleged) |
| Operating since: | 2023 |
| Trading Platforms: | N/A |
| Maximum Leverage: | 1:500 |
| Minimum Deposit: | $250 |
| Deposit Bonus: | 50% + 10% |
| Trading Assets: | Forex, Soft Commodities, Precious Metals, Bonds, ETFs, Share CFDs, Indices |
| Free Demo Account: | No |
| How to Withdraw from This Company? | You won’t be able to withdraw a single penny from a blacklisted fraudster. Contact our legal service for support with chargebacks. |
Blacklists Warn Investors of Scam
Being owned by a non-existent entity makes the alleged Solution FX regulation completely false. The company reportedly called Solution-FX Markets (Pty) Ltd has not entered the FCA database of licensed financial platforms.
Apparently, the scheme has been especially active in Canada, where several regulatory bodies have detected the fraudulent behavior. At the moment, MSC, CSA, ASC, NSSC, and OSC are the regional Canadian authorities that have labeled this business as fraud.
EEA regulator, CONSOB, has recently reposted this warning and warned EU traders not to engage in trading operations on this fake Forex portal.
How Con Artists Work
Although the company claims to be in business for over 10 years, there aren’t any Solution FX reviews to be found online. Majority of the victims are from these areas:
- Canada
- France
- United Kingdom
- United States
- South Africa
This broker operates similarly to the Exitosofx fraud, and is mostly based around a scam call center. Its employees constantly hang on the phone, looking for potential marks. Usually, they will promise great returns for a relatively simple investment, but the deposited funds are simply stolen.
The WhoIs information shows that the solution-fx.com domain was launched in 2023 and leased for a single year only. Don’t wait for the time to run out- act now with the help of our experts, and recover your stolen money!
Only Half Transparent
The Solution FX login is not necessary in order to preview the basic trading conditions, such as spreads and leverage. All account types feature the same maximum leverage of 1:500, while spreads differ depending on the account price.
Standard account includes higher starting spreads of 2.2 pips, while others allow tight spreads of 0 pips on Forex pairs. Other costs, such as commissions and potential withdrawal fees, transaction costs and conversion fees are not revealed.
Multiple Deposit Bonuses
After signing up for the service, users can unlock bonus incentives that are added to their total account balance. The first bonus increases your existing funds by 50%, while the other bonus of 10% can also be immediately activated.
To gain the additional 10%, the minimum investment has to be at least $5.000. Furthermore, withdrawal terms for credited accounts are not disclosed, so you can expect obstacles like minimum trading volume requirement.
Lies About Available Features
All over the web presentation you will find claims about various prestigious platforms being available, as well as a Solution FX demo account with unlimited usage time. None of these are true and clients are only led to believe they’ll be buying a premium service. Keep reading this review to become fully familiar with the extent of the lies.
You Won’t be Trading Here
Solution FX MT5 is marketed as the default trading software available for downloading. However, after combing through the site, we couldn’t find a single download button or the link to the web platform or mobile apps.
What has also prevented us from investigating this matter further is the problem with account registration. All in all, the whole story about the world-class trading environment being provided is just exorbitantly expensive snake oil.
Why Registration Doesn’t Work
At a glance it may seem like the brokerage offers options for both live or demo accounts. However, once you click on the registration button, the online form clearly says you will be applying for a live trading package, not a demo.
Furthermore, you won’t even be accepted as a new member unless you have a promo code which has proven to be mandatory. Everything we know about available packages is from the account comparison page which proposes these prices:
- Standard – $250
- RAW – $10.000
- PRO – $50.000
- VIP – $100.000
There’s also promises of the Solution FX islamic account being also available, but we wouldn’t trust what a blacklisted Forex dealer claims to provide.
Questionable Assets
Since there was no trace of the Solution FX app, we couldn’t determine if the instruments advertised on the site were truly available for trading. These are the listed groups of financial products to invest in:
- Forex – EUR/USD, USD/GBP, EUR/JPY
- Indices – CAC40, FTSE 100, S&P 500
- Precious Metals – Gold, Silver
- Soft Commodities – Cotton, Sugar, Coffee
- Energy – N. Gas, Brent, Crude
- ETF – QQQ, SPY, VSGX
- Share CFDs – Tesla, Meta, IBM
- Bonds – Euro Bund, UK Long Gilt, EURIBOR
Deceptively Informative Withdrawal Policy
Interestingly enough, this fraudster actually has a page dedicated to the deposit and withdrawal policy. As scammers go, this one is pretty informative. Supported payment channels include bank cards (Visa, MasterCard), bank wires, and e-wallets like Skrill and Neteller.
The company charges a “discrete merchant fee plus operating fees” for every Solution FX withdrawal. No numbers are explicitly given, though, except the additional $25 surcharge for bank wires. Hidden fees should be one of your greatest concerns, as they basically mean the charlatans can invent any amount to rip you off more effectively.
How to Get in Touch
Trying to reach out to the alleged 24/7 support office is futile work. We tried sending an email to inquire about the account creation difficulties and never received a response. There’s several other communication options advertised, like live chat, zoom call and callback, but none of them are really available.
Scammed? Get Your Money Back!
While the website of this company may look well designed and inviting, any information posted on it is false advertising. In reality there is no company, no broker, and no profits – it’s all one big nasty fraud.
Unregulated firms are unlikely to release your funds. We can help you with the recovery procedure. Book a free consultation with our expert team by using the live chat on our site to start a process to get your money back.
FAQ Section
What is Solution FX?
Solution FX is a fraudulent brokerage brand, owned by a non-existent company and they lie about being regulated.
Is Solution FX Legit?
No, despite their false claims. The conduct is actually blacklisted by several authorities and they don’t exist in any database of regulated firms.
Who Owns Solution FX Broker?
Solution-FX Markets (Pty) Ltd is an alleged UK company that runs the website. These are lies, however, and we suggest you turn to our recovery experts for help with denied withdrawals.
Source:
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