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Solidstocks Review: A CONSOB Warning

Solidstocks Review: A CONSOB Warning

Solidstocks is a platform with a solid name; that’s the only good thing about them. However, when it comes to the actual trading, solid stocks is a ruthless investment platform. There’s a warning out from CONSOB regarding Solidstocks.co. The parent company, Scintilla Enterprise Ltd, has been labeled as a fraudulent financial institution by several regulators. Please get to know more in our detailed SOLIDSTOCKS REVIEW.

A Closer Check of Solidstocks

Solidstocks Review

Once you land on their homepage, there’s a call to join their trading methodology. The platform claims to offer a successful platform with an eye for detail. Truth be told, the platform has an engaging user face.

To make sure the platform lures naïve investors, they have used technology-theme design. So you get a feeling of AI technology on the platform. What they fail to inform users is that this is a dreadful investment platform.

Those who have made the mistake of signing up are now ruing the decision. The platform is not anywhere close to a successful investment platform. Most of the members fail even to get a penny back from Solid stocks.

You should ensure you sign up with innovative investment platforms that guarantee realistic returns. These include groundbreaking methods such as coin staking, DeFi, and Masternoding. It’s the most favorable way of earning returns.

Solidstocks, on the other hand, does not provide users with a genuine investment platform. What you get is a platform that mimics actual trading. Even an expert trader won’t benefit as withdrawal is an issue.

When looking for favorable investment solutions, you need to do due diligence. Make sure you find out what others are saying about a particular platform. It helps to know what other investors are facing before joining the platform.

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Accounts and packages Solidstocks

Solidstocks offers three investment options that come with different features. The three listed accounts include Basic, Premium, and Luxury accounts. Here’s a closer look at what each account brings to the table.

Basic

As the name suggests, it’s the most basic account on offer. Investors have to deposit a minimum deposit of $250. The amount is in line with regulators’ standards all over the world. However, we do have a problem with the leverage, which is set at 1:200.

Premium

For the premium account holder, they must deposit $2,500 to start trading with the platform. The leverage for this account is in line with the industry set maximum leverage of 1:100. Stop-out level is marked at 50 percent.

Luxury

It’s the most prestigious account on offer, with investors having to deposit $25,000 to start trading. Some of the perks found on the account include commissions from $35 million and leverage set at 1:200 to 1:300.

With the above accounts, members get different trading instruments. Basic account holder gets 20 crypto assets and 15 indices. For the premium account holder, they get 30 Cryptos and 32 indices. Finally, luxury account holders get all crypto and indices assets.

Solidstocks Account Types

Assets and trading instruments

There are five distinct trading assets available on the platform. These include commodities, cryptocurrencies, forex, indices, and shares. Some of the commodities include coffee, gold, and sugar.

Cryptocurrencies found on the platform include 797 matches from Bitcoin, Dent, Ethereum, Pirate Chain, Ripple, Ocean Protocol, and more. In addition, there are over 55 currency pairs with spreads that go from 0.6 to 0.1 pips.

Business owner

Scintilla Enterprises Ltd is the company behind this platform. The entity is registered in the Commonwealth of Dominica. You can get to read their information at the footer of the homepage.

What most investors won’t bother to check whether the company registration number is valid. You will also notice there are no names mentioned on who owns the platform.

Without any names, it’s clear the platform is completely anonymous. The entity behind this platform does not have a valid business registry. We don’t know the CEO or CFO of the platform.

Contact and customer support

Despite having a technology-themed website, there’s no actual support. You don’t even get a phone number where you can call in case of any queries. Instead, all that members get is a message dashboard where they leave their messages.

We did mention that the platform does fail to respond to emails. So unless you are asking about depositing funds, any other query is dismissed. And we believe the platform is trying its best to control the communication process.

Deposit and withdrawal channels

When it comes to depositing funds, the platform allows bank and wire transfers. Funding the account is straightforward, with the process taking less than five minutes to complete. Once you fund your account, the balance will reflect within hours.

You can even start trading immediately and start making winning trades. But, when the time comes to withdraw, that’s when all hell breaks loose. You won’t manage to withdraw funds as the platform blocks all withdrawal attempts.

It’s what most members have been facing the past couple of months. None of them get past the withdrawal tab. All they get is an email notification claiming withdrawal is being processed. And that’s the only response members get.

License and Registration Status Solidstocks

Is solidstocks.co Licensed or Registered?

Solidstocks is not a licensed platform and does not offer any license details. Even the company registration details don’t match any Company records. What we have is a platform that uses random digits to act as registration numbers.

You should ensure the platform you choose to invest in is compliant. Without any regulatory framework, your chances of losing funds are high. And this is why such platforms prefer registering in offshore locations.

The right investment platform will ensure they comply with industry regulations. These platforms are often regulated by ASIC, BaFIN, CNMV, CONSOB, and CYSEC. Other reputable regulators include FCA, FINMA, FMA, NFA, and the SEC.

Any of the above regulators will ensure all parties adhere to strict regulatory policies. And this means you won’t have to worry about putting your funds at risk. Solid stocks, on the other hand, is a no-go zone.

Platform (custom-built web trader)

Solid stocks has also come up with an in-house trading terminal. The platform offers a web trader who lacks approval from the trading community. The problem with such platforms is that they don’t have any testing done on them.

You might find the platform lagging and slow at executing trades. Other times, you find these terminals offering the wrong market data. It would be best to go for MT4, MT5, or SIRIX trading platforms as they offer the best features.

Safety of funds with Solidstocks

When to comes to the safety of funds, there’s no telling what solid stocks will do with deposits. The platform does not deposit the minimum required amount to start a forex trading venture. And this means there’s no insurance cover for deposits made.

Solid Stocks Depository Options

Once you deposit funds with such a platform, there’s no coming back from it. Regulators won’t protect you in the event of bankruptcy or insolvency. Solidstocks.co won’t bother offering investors any refund in the cases above.

Why we don’t recommend Solid stocks

Here are the reasons why we don’t recommend solid stocks to our readers

  • Clear negligence in compliance and regulatory framework
  • Customer support is unavailable
  • In-house trading terminal is slow at executing trades
  • Security of funds is out of the question
  • Withdrawal delays

And now you know the risks that come with Solidstocks.co

There are proven investment options that guarantee a favorable outcome and safety. Try them out today.

If you have any questions, feel free to leave a comment or email us.

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