Stolid Finance review – 5 things you should know about stolidfinance.com

Beware! Stolid Finance is an offshore broker! Your investment may be at risk.

RECOMMENDED FOREX BROKERS

Visit Site

Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.

Stolid Finance boasts that it is “one of the most reliable diversified financial investment service providers in the world”. But experience has taught us not to trust such claims without verification. And fact-checking reveals that Stolid Finance is a quite typical online scam. Let’s explore in detail why you should under no circumstances trust your money to this fishy website.

Stolid Finance Regulation and safety of funds

If a financial services provider is legitimate, you will find on its website clear and detailed information about the company that owns and operates it, where it is based, and what licences it has. Genuine brokers also provide access to a comprehensive set of legal documentation. The availability of such information does not guarantee that it is not false or misleading. But the absence of these elements is very indicative that in all likelihood you are dealing with scammers.

Stolid Finance  is completely anonymous. Nowhere is the name and other legal details of a company provided. There is no Customer Agreement or Terms and Conditions. We are therefore absolutely certain that there is no truth in the Stolid Finance’s claims that it has a UK headquarters and branches in the United States, Canada and Australia.

The UK financial regulator confirms our assessment and warns investors not to trust Stolid Finance.

Before investing your money in financial instruments, it is imperative to make sure you do so through a licensed intermediary and not one of the many scammers lurking online.

You should only trust legitimate brokers operating in one of the established financial centres like the UK, EU, USA or Australia. There, the activities of brokers are controlled by powerful regulatory bodies such as UK’s Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Commodity Futures Trading Commission (CFTC) in US or Australian Securities and Exchanges Commission (ASIC). Clients of these brokers receive protections such as negative balance protection and segregation of the client’s funds from the broker’s funds.

In the EU and the UK, brokers must also participate in guarantee schemes that cover a certain amount of the trader’s investment if the broker becomes insolvent. These guarantees amount to up to 20 000 EUR in the EU and 85 000 GBP in the UK. However, the likelihood of such a bankruptcy is low because regulators also have significant net capital requirements that companies must maintain – EUR 730 000 in UK and Cyprus, AUD 1000 000 in Australia and at least 20 million USD in the United States.

Stolid Finance Trading software

Stolid Finance does not offer any trading software. This alleged broker has neither the legal authorization nor the technological capacity to provide the services it claims.

Legitimate brokers offer clients a wide selection of trading software, including desktop, mobile apps and web-based platforms. The most widely used platforms in the industry are MetaTrader 4 (MT4) and MetaTrader 5 (MT5). These platforms have established themselves as industry standard because they offer a wide range of features, including a variety of options for customization, multiple account usage, designing and implementing custom scripts for automated trading and backtesting trade strategies.

Stolid Finance Trading instruments

Stolid Finance  advertises that it offers all kinds of investment services, including trading in all major asset classes. But as we have seen, this cannot be true.

Stolid Finance Spreads and cost of trading

When you sign up for a Stolid Finance  account, you have to choose between different plans, but nowhere are the conditions associated with them specified.

Genuine forex brokers provide detailed information about the trading conditions. Legitimate companies also offer different account types to suit clients with different experience, capital and investment intentions.

Stolid Finance Maximum leverage

High leverage creates the opportunity for more significant profit, but correspondingly increases the risk of sudden and excessive losses. All leading regulators therefore restrict leverage for retail traders. The FCA, like EU regulators, limits leverage to 1:30 for trading in major currency pairs and even lower levels for more volatile assets.

Regulated brokers offer higher leverage only to professional clients who must meet very high standards for capital and experience and forgo the guarantees enjoyed by retail traders.

If you don’t qualify as a professional trader but are willing to take the risk of high-leverage trading, the most viable option is to use the services of an offshore affiliate of an established brand.

Stolid Finance Deposit and withdrawal methods

Stolid Finance  only allows you to deposit funds using cryptocurrencies.

This is typical of financial scammers. Cryptocurrencies are their payment method of choice because on the one hand they allow the scammer a degree of anonymity, and on the other hand they do not allow the scammed to ask for a refund.

Stolid Finance Minimum deposit

Stolid Finance  requires a minimum deposit of 100 USD. For the same or often lower amount, you could open an account with a broker, including the leading brands in the industry.

Stolid Finance Withdrawal requirements

Since Stolid Finance does not provide proper legal documentation, it is unclear what traps the fraudsters may have set. Typically, fake brokers make withdrawing money impossible through huge fees and impossible-to-fulfil traded volume conditions.