Soltechx Review: The Story Behind This Broker
With companies incorporated offshore, you can’t get much. Except for headaches and diminished desire for trading overall. But once you understand how to diversify good from bad brokers you will start enjoying this business.
That’s why it’s important to understand the security, but also hidden tricks that nobody told you earlier. Let’s start.
Who Is Soltechx Broker?
Max LLC, the official owner of the brand, is registered in St. Vincent and Grenadines. According to the WHOIS, they are active since 2021. Thus, in such a short period of time, they managed to earn a bad reputation.
However, all the signs are clearly visible. From regulations, trading software, fees, bonuses, and many more. But after reading this Soltechx review, you will be prepared for future engagements.
Our readers don’t miss the other companies we are reviewing. Simply because it brings clarity and a better understanding if something is beneficial or not. Therefore, check our FxmyTrades, Fxy Trade, and Aswissa reviews.
|Unregulated / Offshore broker
|St. Vincent and Grenadines2
|Financial Authorities Warnings:
|FMA NZ, HANFA
|[email protected], +441312975921
|If a withdrawal is possible:
|25-50 EUR + Inactivity fee of $25 to 5%
|If Active on Social Media:
Regulation and Funds Security of Soltechx
Companies in the hub for scammers should opt for licenses in the countries where they operate. Even though they don’t present any licensing information we are doing our research. Primarily with Tier 1 regulators accepted worldwide. Such as FCA, BaFIN, ASIC and CFTC. Even though the results didn’t bring any licensing information, the research was successful.
We came across two important warnings against Soltechx scam broker. The first one is coming from the Croatian regulator – HANFA. Shortly after that, the New Zealand FMA followed their move. Considering these two warnings, you can’t trust anything this scam broker claims.
So, spreads, commissions, fees, security, and everything else is now questionable. The only thing that we trust about this broker is their malicious bonus policy. Because that prevents you from getting your money back. That’s practically the only Soltechx legit information.
Soltechx Broker Profile
Readers can already see why not to trust Soltechx com scam broker. But here are some more information that makes this broker even more suspicious.
Starting with software, insanely high commissions, and bonuses.
|Bronze, Gold, Platinum, Diamond
|Financial Instruments On Offer:
|No minimum requirements
|Up to $15 per lot commission / Bonuses available
|Education or Extra tools:
|Webinars, training, and courses
Is Soltechx Broker Safe?
After checking their regulations, there are no ways that this broker is legit. On top of that, they are using unreliable trading software. Instead of Meta Trader or cTrader, you can only use proprietary apps. But those are often manipulated and should be avoided at wide angles.
Commissions that this broker offers are very high and go up to $15 per lot. Since the company doesn’t have a demo account available you can’t test them out. However, they don’t have a minimum deposit requirement and that’s where traders fail. They jump right on it and register.
Soltechx Traders Reviews – Sharing Experiences
Another clear warning sign of this investment scam is Soltechx complaints. Only on Trustpilot, there are already 53 comments from traders. Believe it or not, almost 90% of those are with the worst rating. Some of them even get scammed for more than $40.000!
Mainly traders reported withdrawal problems. Since they can’t get it out and they don’t want to pay any more money, the broker freezes their account. Or even worse, make them lose everything with their manipulative trading platform. If you were one of those, feel free to share your experience with us. Either we can advise you on the next move or even help you with the refund. Trustpilot Review.
How Does Soltechx Platform Reach Clients and Who Are They?
Soltechx trading is based on malicious software. Soltechx web trader opts for manipulation and that’s how they mainly scam their traders. Having this in mind, it’s not strange if you see adverts for fully automated trading systems.
Once traders join the platform, they quickly realize that everything is fictive. Their scammed traders are mainly coming from:
- United Kingdom
Deposit and Withdrawal Method
At first glance, the only available funding methods with this broker are:
- Debit and Credit cards
- Wire transfers
Thus, don’t be surprised if the broker uses crypto transfers at a later stage. Mainly due to anonymity. Nevertheless, the biggest issue here is how to withdraw money from Soltechx.
Primarily because of the fraudulent bonus policy. For every $5 bonus, you have to make a trading volume of 100.000 units. So, if you get a $200 bonus, that’s 40.000.000 units. Before that withdrawals are not available.
Reasons To Avoid This Broker
As can be seen, the list is extremely long. With missing regulations, the company can’t back up any of its stories. Moreover, regulators are issuing warnings against them. It’s just a matter of time before they shut down. But don’t be surprised if they come back again with a different brand. That’s why understanding the warning signs is crucial.
After all, the company is using unreliable trading software and has extremely dangerous trading conditions. But also withdrawal and bonus policies. Practically, there is not a single reason to deposit with this broker.
Our Safe Trading experts’ opinion of Soltechx broker
Even if the broker analyzes reviews like ours and tries to build all conditions around that, there is still one thing that can back it up. That is regulation and we highly recommend you to look for regulated brokers.
Our specialized team is available to find you a perfect fit. Ultimately, it’s your choice anyway. But also if you were a victim of a scam, you should get your money back. Don’t let these swindlers get away with your money. To get a few guidelines on where to start, get in touch with us today.
Is Soltechx Trustworthy?
No. A company without a license is rarely trusted. But this one has warnings and numerous negative reviews.
How To Start Trading Safely?
Safe trading is mainly obtained through licensed brokers. To find out which ones suit best your country's laws and your trading preferences, get in touch with our team.
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