Solana-Markets – Is this a Good Choice?

Solana-Markets

Anyone who wants to engage in online trading is first required to open an account with an online broker. This shouldn’t be too hard, given that you can easily find a list of these companies with just a simple Google search. But, the sheer numbers that exist can often be the reason for confusion because you cannot decide which one is the best fit for your needs.

You obviously want a good broker because they have a big role to play in your experience, but this Solana-Markets review tells you that there is always more to the story than what meets the eye.

Most of the online brokers you come across seem to be truly professional trading solutions, offering you top notch services that are bound to grab your attention and encourage you to sign up right away. Who doesn’t want that? You definitely do not want to waste your time, but you should remember that the space is also riddled with fraudulent brokerages that are on the hunt for victims. Do you really want to be the next one? No one does, but they can become one if they do not do their homework in their eagerness to start online trading.

You should not forget that you cannot just trust a brokerage because it asks nicely. No matter how good the website may be, or the tons of services and features they promise you, it is a must to always confirm everything. Looking into a brokerage will never be a waste of time because it will help keep you safe from scams and frauds that are ready to pounce. One such example is Solana-Markets that has added ingredients like safety, flexibility and speed to draw people to its platform.

Who does not want to start making profits within minutes? This is what Solana-Markets promises and it can be hard to resist for anyone who wants to make money as quickly as possible. But, you need to be wary of anything over the internet that sounds too easy and too good. This is particularly true for the crypto market that has attracted a lot of scammers and Solana-Markets is just one of them. How can you tell? Here are some signs that will show you:

The issue of regulation

A regulated and licensed online broker should be on top of your list when you decide to engage in trading. Any company that does not have a license to provide its services should be a no-no because scams will always fall in this category. Regulation means their operations and activities are overseen by a third-party, which frauds would never permit because it would give away their secret. So, opting for a licensed and regulated firm is a kind of insurance because it gives you access to high quality services, security and transparency, all rolled into one.

When Solana-Markets catches your eye, you need to know its background to see where it is based. You will find that the brokerage claims to have offices in two jurisdictions, Australia and the United Kingdom. As impressive as it sounds, you should know that there are problems with these claims. First, in order to be based in these regions, Solana-Markets needs to have a license from their regulatory authorities. This means the Australian Securities and Investment Commission (ASIC) and the Financial Conduct Authority (FCA).

You will not find Solana-Markets listed in either of their online registers, which is proof enough, but there are more facts that confirm it. You will find that the broker issues bonuses, which are forbidden by both authorities. Likewise, the FCA has also banned crypto CFDs and it has also issued a warning about Solana-Markets. This confirms what you already suspect by now that Solana-Markets is not a legitimate broker.

The problem with bonuses

As mentioned above, you will find that Solana-Markets is offering bonuses, which many may find attractive. Who does not enjoy getting free money? But, you should always be suspicious of something when you are getting it for free and this is true for bonuses. They have been banned in a number of jurisdictions because they come with strings attached that are aimed at exploiting people. The same applies to the UK and Australia, where the broker claims to be based.

Moreover, the reason for them being banned also becomes evident when you check out Solana-Markets’ bonus policy. It states that traders have to meet a certain trading volume requirement before they can withdraw their bonus funds. When you check this trading volume, you will find that you will have to conduct transactions worth $5 million for a $200 bonus, which is quite impossible. Even professional traders may not have such a trading volume.

This means that you will not be able to withdraw your funds at Solana-Markets and this is primarily what the broker wants.

The trading platform dilemma

The key feature that an online broker offers is the trading platform, which refers to the software used for trading in real-time and checking your results. The platform has to be fast to keep up with the markets and integrated with cutting-edge and innovative tools and features that can help you make well-informed decisions to make the most profits. But, you will discover that Solana-Markets is lacking in this aspect as well.

It has a web-based trading platform on its website that does not go beyond the basic. If you are looking for state-of-the-art trading tools and a platform with excellent trade execution, you will not find it at Solana-Markets because it has an oversimplified platform. It does not come close to the MT4, or the MT5, which have become the leading trading platforms in the market due to their arsenal of tools and their advanced technology.

Most professional and reliable online brokers will give you access to these platforms, but Solana-Markets does no such thing.

The Answer

The lack of information like minimum deposit and leverage at Solana-Markets is also disturbing and only reiterate the fact that it is not a good choice for anyone.