Solid ECN review and ratings

Established 2021
Location Saint Vincent and the Grenadines
Regulation None
Offices Kingstown
Broker type STP | ECN
Leverage up to 1:1000
Deposit from 1 USD
Spreads low  low
Platforms Web MetaTrader 5
Instruments Currencies Crypto Indices Metals Energies Stocks
Funding methods Credit Cards Perfect Money Bitcoin Bitсoin Cash Ethereum Liteсoin Dash Ripple Tether

Company information

Solid ECN is a legally registered forex broker located in the Saint Vincent and the Grenadines, but not regulated by any government agency.

Availability

Solid ECN accepts clients from all over the world, excluding some jurisdictions where restrictions apply.

Distinctive features

Trading instruments

Forex broker offers the following underlying assets for trading.

45+ Currency Pairs Based on major and minor world currencies.
8 Currency Futures Based on major world currencies.
40+ Crypto Pairs Based on Bitcoin, Bitcoin Cash, Bitcoin Gold, Ethereum, Binance Coin, Cardano, Algorand, My Neighbor Alice, Cosmos, Avalanche, Axie Infinity, Compound, Dogecoin, Polkadot, Dash, Enjin Coin, EOS, Filecoin, ICP, Illuvium, Miota, Kava, ChainLink, LiteCoin, Aave, Terra, Maker, Decentraland, Polygon, Near, NEO, OMG, Qtum, Siacoin, Sandbox, Solana, Stacks, Theta, Uniswap, VeChain, Stellar, Monero, Ripple, Tezos, Yearn Finance, Yield Guild Games, Zcash, Zilliqa.
11 Indice CFDs Based on baskets of different blue-chip stocks.
4 Metal CFDs Based on Gold, Silver, Platinum and Palladium.
2 Energy CFDs Based on Crude Oil (WTI, Brent).
100+ Stock CFDs Based on shares of US, UK and EU companies.

Comprehensive review

Solid ECN is a forex & CFD broker based in Saint Vincent and the Grenadines, which is an offshore jurisdiction often used by forex brokers. As all brokers based there, Solid ECN is not regulated by any government agency. Being based offshore also means that this broker can offer trading conditions that are sometimes better than brokers based ‘onshore’, including high leverage of up to 1:1,000.

The broker accepts clients from nearly all countries in the world. Unlike most other forex brokers, Solid ECN does not have any explicit ban on US-based traders.

Like many of the brokers we review here on FX-List, Solid ECN offers trading on the MetaTrader platform. More specifically, this broker has chosen the MetaTrader 5 (MT5), which is a newer version of the original MetaTrader 4 (MT4). The platform comes packed with a whole range of functionalities, and is therefore a preferred choice for both beginners and veteran forex traders alike.

In addition to the standard downloadable version of MT5 for Windows computers, Solid ECN also offers the platform for Linux and Mac computers. In addition, a web-based version that can be used on any type of computer is also available.

In terms of trading accounts, clients with Solid ECN have the choice between the following four account types:
– Micro, with a minimum deposit of USD 1 and spreads from 2 pips
– Standard, with a minimum deposit of USD 10 and spreads from 0.3 pips
– Holy (swap-free), with a minimum deposit of USD 10 and spreads from 1 pip
– ECN, with a minimum deposit of USD 10, spreads from 0 pip, and commission-based trading

As an unregulated broker, Solid ECN is free to offer deposit bonuses and other promotions that are often banned in other jurisdictions. This is something Solid ECN has taken advantage of, offering a 40% deposit bonus. The bonus applies to deposits into all account types, and profits generated from the bonus can be withdrawn at any time, the broker promises on its website.

A special thing to note about Solid ECN is that all deposit methods are processed free of charge by the broker. In addition, the broker also says that it will cover the cost of transfers made by clients for deposits into trading accounts. However, the broker does charge a fee for withdrawals, making this deal a bit less attractive overall.

The payment methods that are available from Solid ECN includes a range of cryptocurrencies such as Bitcoin, Ethereum and the stablecoin Tether (USDT). In addition, regular bank transfers and the traditional e-wallet Perfect Money are also available as payment options.

For any issues that require customer service, Solid ECN can be reached via a US phone number, email or live chat. Unfortunately, no information about working hours for the support team has been published by the broker.

In conclusion, Solid ECN is a broker that traders should be approached with some caution, given that it is completely unregulated. This means that there is no government agency to turn to in the event the broker goes under, or if any other type of problem should happen.

Still, being unregulated also brings with it certain benefits. For instance, Solid ECN offers some of the highest leverage in the industry, which we understand is tempting to some traders, as well as convenient funding directly with cryptocurrencies.

Reviews from traders

5/5
(8 votes)
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