FX Solaris Review fxsolaris.com Scam or Legit?

FX Solaris Review: Scam or Legit?

In the world of online trading, it’s essential to be cautious when dealing with new brokers. With the rise of online trading platforms, it’s become increasingly difficult to distinguish between legitimate and fraudulent operations. FX Solaris is a relatively new broker that has been gaining attention in the market, but is it a scam or a legitimate trading platform? In this review, we’ll delve into the details to help you make an informed decision.

First Impression

FX Solaris’s website appears professional and modern, with a sleek design and user-friendly interface. The broker claims to offer a wide range of trading instruments, including forex, indices, commodities, and cryptocurrencies. They also boast of having a user-friendly trading platform, mobile trading app, and a team of experienced traders.

Regulation and Licensing

One of the most critical aspects to consider when evaluating a broker is its regulatory status. FX Solaris claims to be regulated by the Vanuatu Financial Services Commission (VFSC), which is a reputable regulatory body. However, upon further investigation, we found that the VFSC has not issued any licenses to FX Solaris. This raises serious concerns about the broker’s legitimacy.

Trading Conditions

FX Solaris offers a maximum leverage of 1:500, which is relatively high compared to other brokers. However, this high leverage can also increase the risk of significant losses. The broker also offers a minimum deposit requirement of $250, which is relatively low compared to other brokers.

Trading Instruments

FX Solaris claims to offer a wide range of trading instruments, including forex, indices, commodities, and cryptocurrencies. However, upon further investigation, we found that the broker only offers a limited selection of forex pairs and indices. The lack of variety in trading instruments is a significant drawback for traders who prefer to diversify their portfolios.

Customer Support

FX Solaris claims to offer 24/7 customer support through multiple channels, including phone, email, and live chat. However, our experience with the broker’s customer support was disappointing. We encountered long response times and unhelpful representatives.

Conclusion

Based on our review, we cannot recommend FX Solaris as a legitimate trading platform. The broker’s lack of regulatory licenses, limited trading instruments, and poor customer support are significant red flags. Additionally, the high leverage and low minimum deposit requirement may attract inexperienced traders who are more likely to lose money.

In conclusion, FX Solaris appears to be a scam broker that