Solo Capitals Review
The broker Solo Capitals is operational from Estonia that provides seven trading accounts. It’s offering consists of foreign exchange trading, professional recovery services, and savings accounts. However, the broker Solo Capitals is not regulated and red-flagged by the top financial regulator. In this Solo Capital review, we will inform you of all the necessary elements of this particular broker. Read the full Solol Capitals review here.
About Solo Capitals:
The provided seven trading accounts are Basic, Bronze, Silver, Gold, Platinum, Diamond, and Black with a minimal funding of $250, $1000, $3000, $7000, $15000, $25000, and $50000 respectively. Unfortunately, the values of the maximum leverage and average spread provided are not mentioned on the official website. To make this review exclusive and nonpartisan we will include possible benefit and drawback of Solo Capitals.
The possible benefit of Solo Capitals can be it’s a wide variety of trading assets like forex pairs, commodities, shares, stocks, metals, energy, and agricultural products. It also has crypto coins like Bitcoin, Ethereum, Litecoin, Ripple, Dash and more.
Here we will talk about the cons of Solo Capitals. The major con of Solo Capitals is it’s an unregulated element. The Estonia based company called T BCorp OU is the owner and manager of the brand Solo Broker. When we researched at Estonian local Financial Supervision Authority we could not found Solo Capitals registry and nor by any other financial watchdog.
In addition to this, the local financial watchdog of the United Kingdom named Financial Conduct Authority has blacklisted this broker and kept in the potential scammer’s list. Above discussion leads us to believe that the broker Solo Capitals is not regulated and licensed. It means the fund of traders is not safe at this broker.
The broker’s terms and conditions are unacceptable and it urges to allow them to have complete authority to traders personal bank accounts. The world-famous trading platform MetaTrader is not offered for trading and it is another setback. Also, spreads we came across a demo account was 3 pips are quite high and the main reason for the higher cost of trading. Generally, 1 pip of spreads is acceptable.
Is Solo Capitals scam or legit?
The broker is operational from the offshore country and does not hold a proper license to conduct brokerage services. The Financial Conduct Authority has blacklisted this broker and entitled Solo Capital as a potential scam broker. Therefore we call Solo Capitals is a potential Australian trading scam.