Solo FX Review – Trading Fraud At Its Finest With Solo-fx.com Broker

Solo FX broker was registered in 2023 in Saint Vincent and the Grenadines as Lodishken Limited. Knowing the nature of the companies registered there, it’s probable this one will be the same fraudulent entity.

It’s important to learn where to look for information and know how to analyze it. After that, everything is easier. But to avoid mistakes and wasting your precious time read this Solo FX review in under 5 minutes.

Broker status:	Unregulated Offshore Broker
Regulated by:	No regulations
Operating Status:	Active FX and CFD trading scam
Known Websites:	https://Solo-fx.com
Blacklisted by:	N/A
Owner:	Lodishken Limited
Headquarters Country:	Saint Vincent and the Grenadines
Foundation Year:	2023
Online Trading Platforms:	Web-based
Mobile Trading:	Not available
Minimum Deposit:	$500
Deposit Bonus:	Available
CFD Trading Option:	Yes, you can trade CFDs
Crypto Asset Trading:	No
Available Trading Instruments:	Forex, commodities, indices
Maximum Leverage:	N/A
Islamic Account:	Not available
Free Demo Account:	Not available
Accepts US clients:	US clients are accepted
Global Fraud Protection Experts’ Verdict:	With too many hidden details, conditions, and a lack of regulatory oversight, numerous problems are highly expected. If you recognize any of those we mention in this Solo FX Review, feel free to contact us for refund options.

Is Solo FX Legit or a Scam?

The first place you should look for clues is regulatory databases. Important to know is that the Financial Service Authority (FSA) of Saint Vincent and the Grenadines is not issuing Forex licenses anymore. Finally, they have realized that it’s worthless, as many companies are luring people into a scheme, which is decreasing the license’s value.

Therefore, all companies registered there should have other approvals. Preferably top-tier ones like ASIC, CFTC, BaFin, or FCA. Unfortunately, with this brokerage, we could find none. That’s already enough of a big sign to avoid them.

Luckily for them, no warnings have been published yet. But if you wait for a while, be sure there will be some.

How Does Solo FX Work?

Since the company was recently registered, it’s not surprising there are no Solo FX reviews available. In any case, with the company’s hidden conditions, what their goals are is quite obvious. It is pretty much to extort money in any way possible and prevent traders from withdrawing it.

Just check the company’s payment solutions, and you will realize. With only crypto transfers accepted, it’s clear they don’t want any traces to lead to their origins. With this in mind, we encourage you to be the first to comment about this brokerage. But for detailed advice about refunds and chargebacks, you can contact our team.

Who Are Solo FX Victims?

As it seems, Solo FX trading company is not hesitating to reach for its victims all over the world. Primarily in some top-tier regulated countries. For example:

• Australia
• United Kingdom
• United States
• Canada

Yet, they are not authorized to provide services in any of those countries. So, if you are coming from any of those and you trade with this firm, contact us as soon as possible.

What Are Trading Platforms Available?

Another misleading detail from Solo FX Forex broker is its trading platform. Allegedly, they are offering desktop and mobile versions of the platform. Thus, those details on the company’s website lead nowhere.

Consequently, there’s only one option left. That’s a WebTrader. In combination with missing regulations and shady conditions, it’s a recipe for a disaster.

Is the Solo FX Mobile Trading App Available?

In general, there is an insinuation that mobile apps exist. However, the link on the website doesn’t lead anywhere, especially not to trusted stores like AppStore and PlayStore. That’s one of the signs you should avoid the company’s services.

But to see how to avoid fraudulent platforms, read our CoinCasso review.

What Financial Instruments Does The Platform Include?

Some may think that we’re done with downsides. There must be something positive about this broker. Yet, it doesn’t get any better with tradeable instruments.

Firstly, the company lacks highly popular cryptos and stocks. But even those they advertise to offer are highly questionable. For instance:

• Forex – USD/EUR, EUR/CHF
• Commodities – gold, crude oil
• Indices – NASDAQ, FTSE100

Account Types Offered by Solo FX

Here’s one positive thing about Solo FX broker. They at least transparently present how much money they want from you through their account types. They will offer you VIP support, transaction hedging, and a personal account manager in exchange for a higher deposit. Ultimately, you decide if such features are worth $10k.

Anyway, all options are:

• Silver – $500
• Gold – $5.000
• Platinum – $7.000
• VIP – $10.000

Can a Trader Use a Solo FX Demo Account?

Important to realize is that none of the Solo FX account types include a demo account. This way, traders are limited and don’t have an option to explore platform features. At least not without the risk involved.

But to see why not to trust brokers with hidden features, read our Zorro Markets review.

Solo FX Fees, Spreads, Leverage and Commission

One of the worst things about this broker is the company’s transparency about trading costs. Or, to be fair, the lack of it.

Practically, they can make up any costs they want and get out with it. After all, it’s a trader who accepted the company’s conditions without thinking about it. But if you check any top-tier licensed broker, you will realize what transparency means.

Is the Solo FX Welcome Bonus Available?

Of course, to prevent traders from making any Solo FX withdrawal, the company invented an old trick. That’s a welcome bonus.

In case you didn’t know, you have to reach a certain trading volume to get the bonus funds and profits generated with the bonus. That’s one lot ($100k) for every $1 bonus added. And think about this. Who decides what funds are generated with bonuses?

Is Solo FX Withdrawal Possible?

Since the Solo FX scam broker only accepts crypto payments, it’s clear they want their identity hidden. Even though crypto transfers ultimately end up on a verified wallet, it’s hard for individuals to track those.

Anyway, the company claims to process withdrawals within 3 business days. Of course, without any fees. However, if you exceed a maximum number of withdrawals in a month (nonsense), you may expect additional charges.

What Should I Do If I Have a Solo FX Problem?

The first stop should be the FSA. But also any top-tier regulation. Preferably domestic, where you can provide all the necessary information for them to analyze your case. However, many frustrated traders only look for a way to recover the funds. In this case, CipherTrace might be the perfect tool for you.

If you want to find out more, feel free to book a meeting with our refund team. No obligations or costs in the first consultation. Don’t wait a bit and contact us today!