Newsolid is a forex and CFD broker that is headquartered in New Zealand. NewSolid is a broker that says it can help you trade crude oil, equities, currency pairs, rare metals, cryptocurrencies, and other things. The broker used to say that Solid Global Investment Limited, which is based in New Zealand, owned and ran the business.
Company Overview
The odd thing about the broker is that it originally disclosed that Solid Global Investment Limited, a New Zealand-based corporation, owns and operates the business.
Now, the broker’s website has different ways to get in touch with them. The broker is registered in Samoa (registration number: 84459; registered office address: Vistra Corporate Services Centre, Ground Floor NPF Building, Beach Road, Apia, Samoa; phone number: +852 6773 8846; address for correspondence: Flat B, 1/F, House of Corona 50 Hung to Road Kwun Tong, Kowloon, Hong Kong; phone number: +852 3908 7900).
This change in contact information is hard to understand and makes it more likely that there are problems.
Does Newsolid Have Any License?
No, Newsolid does not have any license from any major financial authority. This means that the company is not subject to any regulatory oversight, and there is no guarantee that it will operate in a fair and honest manner.
Is Newsolid Regulated By Any Authority?
No, Newsolid is not regulated by any major financial authority. Instead, we found a warning against this broker from FMA, the financial regulator of New Zealand.
Pros and Cons:
Pros | Cons |
None | Not regulated by any major financial authority |
None | Poorly designed website |
None | Many complaints from traders about scams and fraud |
How Does Newsolid Reach To Their Prey?
Newsolid reaches out to potential traders through a variety of channels, including online advertising, social media, and cold calling. The company’s sales representatives often make unrealistic promises of high profits and low risk.
Technical Details of Newsolid (Source: NewSolid Review – is newsolid.com scam or good forex broker? (forexbrokerz.com))
Newsolid uses the MetaTrader 4 trading platform, which is a popular platform among forex traders. However, the company’s trading platform has been known to glitch and freeze, which can lead to losses for traders.
Minimum Deposit:
Newsolid’s minimum deposit is $100 (Source: https://55brokers.com/newsolid-review/#:~:text=Deposit%20%26%20Withdrawal) . This is a relatively low minimum deposit, which makes the company attractive to new traders. However, it is important to note that Newsolid is a scam broker, and traders should not deposit any money with the company.
Trading Platform:
Newsolid uses the MetaTrader 4 trading platform, which is a popular platform among forex traders. However, the company’s trading platform has been known to glitch and freeze, which can lead to losses for traders.
Spread:
According to its website, NewSolid’s standard spread on EUR/USD pairs is 2.5 pips, which is not a good price. Most forex brokers, including many reputable and registered ones, offer spreads for this pair that are between 1 and 1.5 pips. (Source: https://www.forexbrokerz.com/brokers/new-solid-review#:~:text=conditions%20and%20pricing.-,High%20spreads,-According%20to%20the)
Leverages:
Newsolid offers high leverage, which can allow traders to make large profits with small deposits. However, high leverage also means that traders can lose a lot of money very quickly.
Packages and Products They Offer:
Newsolid offers a variety of trading accounts and products, including forex, CFDs, and commodities. The company also offers a number of bonuses and promotions, but these are often subject to strict terms and conditions.
Trading account | Min. deposit | Max. leverage | Average Spread |
Standard | N/A | 1:100 | 2.5 pips |
Withdrawal and Deposit Method:
Newsolid offers a variety of deposit and withdrawal methods, including credit cards, debit cards, bank transfers, and e-wallets. However, there have been many complaints from traders about delays and problems with withdrawals.
What Do Their Previous Traders Say?
Newsolid has been accused of being a scam broker by many traders. There are numerous complaints online from traders who have lost money with the company. The most common complaints include:
- Problems with withdrawals
- Account freezes
- Trading platform glitches
- Unrealistic promises from sales representatives
Summing Up- Why Should Not You Trust Newsolid:
Newsolid is a scam broker that is not regulated by any major financial authority. The company has a history of defrauding traders, and there are numerous complaints online from traders who have lost money with the company.
If Bad Things Happen, Where Can You Get The Quick Solution?
If you have been scammed by Newsolid, you can contact us for a free consultation call. We can help you to assess your case and recommend recovery service providers.
File A Complaint Against Scam Broker's
Final Thoughts:
Newsolid is a scam broker that should not be trusted. If you are looking for a reliable forex broker, there are many other options available. Please do your research before you deposit any money with any broker.
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