solutionsFX is a CFD broker, registered with a domain name on April 21, 2024. It primarily offers trading services in financial derivatives such as stocks, futures, crude oil, gold, cryptocurrencies, and forex to retail and institutional clients. This broker does not provide services in jurisdictions where it might violate local laws or regulations.
Company Registration Information and Regulatory Status:
According to publicly available information on the solutionsFX (solutionsfx.com) website, the broker is headquartered in Hong Kong. Its subsidiary is regulated by the U.S. Financial Crimes Enforcement Network (FinCEN) and is registered with the National Futures Association (NFA), with the NFA ID 146789. However, the company profile page also claims it is headquartered in London, UK, with branches in the U.S., Vanuatu, and Sydney, Australia, possessing full financial service qualifications and being regulated locally.
Upon verification, no company named GTC Limited was found in the registries of the Hong Kong Companies Registry, the U.S. Financial Crimes Enforcement Network (FinCEN), or the UK's Financial Conduct Authority (FCA) websites. The NFA's website also shows no company with the NFA ID 146789.
Therefore, solutionsFX (solutionsfx.com) is actually a fraudulent broker website with no corporate entity or regulatory oversight.
Account Registration Process:
To open an account with solutionsFX, visit their official website, and click "Register" on either the homepage or the top right corner. Fill in the required email address and set a login password. The broker will send a verification code to the provided email. Enter this code in the application form and submit it to complete the registration. After logging in, identity verification is required to deposit funds and start trading.
Trading Account Information:
The solutionsFX website only discloses information on spreads, trading leverage, margin call/stop-out levels, and contract sizes. Information on account types, trading commissions, minimum/maximum trade size, maximum position/order size, and minimum price increment is not provided.
- Spreads: Variable spreads, starting from 1 pip
- Trading leverage: 1:100—1:500
- Margin call/stop-out levels: 100%/50%
- Contract size: 1 lot = 100,000 currency units
Trading Platform:
solutionsFX offers the FX6 trading platform, available for both desktop and mobile. This platform features over 50 technical indicators and intraday analysis tools, along with advanced functionalities for experienced traders.
Deposits and Withdrawals:
solutionsFX does not explicitly disclose the supported deposit and withdrawal methods, fees, or minimum deposit/withdrawal amounts on their website.
Conclusion:
Traderknows reminds investors that solutionsFX is a suspected fraudulent broker with unclear registration and regulatory information and false advertising. The only way to contact them is through email, making their contact method very limited. The website design and content are the same as other fraudulent broker websites like Gildencrest Capital, Tosta Global Limited, fbspro, BLK International Exchange Inc, Bestonfx Trading Limited, and fogo forex. Traderknows advises investors to choose brokers with transparent information, strong regulation, and good reputation to avoid unnecessary financial losses.
Currently, this broker is marked as "Suspected Fraud" on Traderknows.
