SolisMarkets Review

FXCanary’s review of SolisMarkets began by cross-checking all available regulatory data against public registers. We examined the broker’s FSCA licence, corporate registration details, and any public warnings or alerts. We then scoured a wide range of user-review platforms and aggregated industry databases to build a picture of genuine trader experiences. Only after collecting and analysing this evidence—including 125 Trustpilot reviews, numerous forum complaints, and directly provided user feedback—did we assign our independent Scam Risk Score of 52 out of 100, indicating an elevated risk profile.

We also scrutinised the broker’s own marketing materials, account structures, and disclosed terms. Our goal was to separate the broker’s claims from the reality documented by users, and to present a balanced, evidence-based assessment. This review reflects weeks of due diligence, not a superficial glance at a website. Where data was missing or contradictory, we have highlighted the gaps so traders can make an informed decision.

SolisMarkets is officially operated by Eklavya Asset Management LTD PTY, a South African private company. Public records reveal that the entity was registered in 2014, yet there is no evidence of any prior brokerage activity under this name until the SolisMarkets brand launched in 2024. The company lists zero employees—a startling statistic for a financial services provider that purports to serve active traders worldwide.

Operating a brokerage with no staff raises immediate concerns about the existence of proper compliance, support, and risk management functions. While some offshore firms rely on outsourced services, the complete absence of reported employees is atypical and suggests the operation may be little more than a shell. For traders, this means an intangible business with limited accountability, a factor that aligns with the numerous reports of unresponsive support and vanished agents.

SolisMarkets’ only regulatory credential is a Derivatives Trading License (EP) from South Africa’s Financial Sector Conduct Authority (FSCA), number 45583. We verified the licence on the FSCA’s online register, confirming it is issued to Eklavya Asset Management LTD PTY. While an FSCA licence signals that the firm must meet certain minimum standards—including capital requirements and client fund segregation—the FSCA’s oversight is primarily inward-looking. Its mandate focuses on protecting South African residents; international clients often have a weaker safety net.

Moreover, the licence grants permission for derivatives trading, but it is not a full financial services provider licence that covers all the asset classes SolisMarkets advertises. The broker’s marketing of forex, indices, commodities, cryptocurrencies, and shares under a single FSCA derivatives license may stretch the boundaries of what is authorised. Traders should verify that the specific instruments they intend to trade are covered by the licence and understand that recourse through the FSCA’s ombudsman may be limited or unavailable to non-residents.

Another concern is the licence status: we could not confirm any ongoing compliance history or recent audits. The FSCA has been known to issue warnings against entities falsely claiming regulation, so constant cross-checking is advisable. At the time of our review, the licence appeared active, but a single domestic licence—especially one that does not cater to the broker’s promised international instruments—provides scant protection for a global retail audience.

SolisMarkets offers six account types, all carrying minimum deposits that are an order of magnitude higher than those of mainstream brokers. The lowest tier, Silver, demands $5,000, while the top-tier VIP account requires a staggering $500,000. For context, most reputable brokers allow traders to start with as little as $10. This structure immediately filters out the vast majority of retail traders and signals that the broker is targeting wealthy individuals or those willing to risk substantial savings.

The leverage split is instructive: the four highest accounts receive up to 1:200, while Silver and Gold are capped at 1:50. Higher leverage can amplify gains but also losses, and the 1:200 level on a half-million-dollar deposit would give a trader enormous market exposure. This combination of high capital and high leverage is exceptionally risky and appears designed for speculative gambling rather than prudent portfolio building.

Critically, SolisMarkets does not disclose spreads or commissions for any account tier. In the absence of published fees, traders cannot calculate their true cost of trading. Some reviewers mention competitive spreads, but others claim eye-watering markups—such as a BTCUSD spread exceeding $1,000. Without transparent pricing, the broker retains the power to arbitrarily adjust costs, a practice corroborated by negative reviews complaining of sudden, unexplained fee hikes.

The user record on deposits and withdrawals is starkly divided. Positive reviewers relate smooth funding and fast payouts, sometimes via the new FPX method or PayPal. One user noted that a refund issue was resolved within 24 hours, suggesting that support can be effective when it chooses to be.

However, the negative reports are far more disturbing. Numerous investors describe depositing large sums—often after being persuaded by an agent—only to find their withdrawal requests ignored, their accounts blocked, or the website suddenly inaccessible. One user stated, “I can't log in to my SolisMarkets account and their website seems to be down/ missing. I have requested a withdrawal from my account since 2024, sent several follow up emails and this company has stopped responding.” Another complained of daily reminders for withdrawal that went unanswered, adding, “they make you deposit your money and then that is it, no withdrawals, the money is theirs.”

With 17 withdrawal-related complaints on file at FXCanary, the pattern is impossible to dismiss as isolated incidents. The combination of high minimum deposits and unresponsive withdrawal processing is a classic hallmark of an exit scam or a boiler-room operation. Until the broker can evidence a consistent, reliable payout record—and not just a handful of cherry-picked positive withdrawals—the risk is severe.

SolisMarkets promotes the MetaTrader 5 platform, a solid choice that provides advanced charting, algorithmic trading capabilities, and a vast marketplace of expert advisors. Several reviews confirm they are trading on MT5, and some praise its speed. The broker claims to offer Forex, Indices, Commodities, Cryptocurrencies, and Shares—a broad suite that could satisfy diverse trading strategies.

Yet the actual execution environment matters more than the platform name. On the positive side, one user described “perfectly fast” execution, and the general tone regarding platform performance is favourable. On the negative side, however, there are accounts of spreads widening dramatically without notice, and a user losing over $50,000 in a single weekend due to what they called unmonitored trades. This suggests that while the MT5 front-end may be stable, the back-end liquidity and risk management could be manipulated against the client’s interest.

The lack of specific instrument lists and trading conditions on the website makes it impossible to evaluate the quality of execution or the actual tradable markets. SolisMarkets appears to rely on verbal assurances and agent-led promotions rather than transparent disclosure—a warning sign in an industry where reputable brokers publish all conditions openly.

The most glaring omission in SolisMarkets’ public documentation is pricing. None of the account pages include typical spread figures, commission rates, swap points, or overnight fees. This opacity forces traders to rely on what an account manager or agent tells them, creating an asymmetric information advantage for the broker.

User reviews are contradictory on this front. Some hail “very favorable spreads,” while others report spreads over $1,000 on BTCUSD trading and accuse the company of increasing spreads and fees without notice since November 2023. One reviewer explicitly stated, “BTCUSD trading with over $1000 spread and charging fees on top of this, this company should be closed down.” If even partially true, such spreads make profitable trading virtually impossible.

Excessive or variable spreads not only erode returns but can trigger margin calls on leveraged positions. For traders who commit large sums, unilaterally widened spreads can lead to devastating losses. The absence of a published fee schedule should be treated as a deal‑breaker for any serious trader.

The user-review landscape for SolisMarkets is bitterly polarised. Out of 125 Trustpilot reviews, the broker scores 2.7 out of 5. Many five-star ratings laud the platform’s completeness, the quality of VIP signal services, and the responsiveness of customer support. Phrases like “SLM game changer!” and “my profits even returned the fees within one week” reflect genuine enthusiasm from some quarters.

Yet the negative reviews are more detailed and more concerning. They describe a pattern: an initial positive experience, followed by encouragement to deposit more money, then sudden losses, unresponsive agents, and blocked withdrawals. One reviewer wrote, “I lost all due to her advice,” referring to an agent who convinced them to deposit $2,000 and then abandoned the account. Another explicitly called the company “not legit,” and a separate investor claimed to have been scammed out of R23,000.

Scam concerns appear in 7 out of 8 remarks on the topic, and even many positive reviews seem suspiciously generic or promotional. The presence of 17 withdrawal-related complaints reinforces the narrative that payouts are a persistent pain point. In our assessment, the volume and severity of these complaints outweigh the positive service anecdotes and demand a high degree of caution.

Industry databases and external aggregators paint a similarly cautious picture. The broker’s Trustpilot average of 2.7 is well below the threshold considered trustworthy for a forex provider. The FPA (Forex Peace Army) does not list a score, suggesting either a lack of established presence or limited engagement with structured review processes. The absence of clone or impersonator sites is a minor positive, but it does little to mitigate the core issues.

FXCanary’s Scam Risk Score of 52 out of 100 places SolisMarkets in the “Elevated” risk tier. This score is calculated algorithmically from factors including regulatory strength, complaints volume, transparency, and user sentiment. At 52, the broker is not an out‑and‑out scam according to our model, but it sits perilously close to the danger zone. The rating signals that traders should expect significant counterparty risk and only engage after rigorous due diligence—and ideally with funds they can afford to lose entirely.

SolisMarkets presents a classic high‑risk, high‑cost brokerage profile. Its single FSCA licence provides limited protection, its account minimums are exclusionary, and its withdrawal record is marred by troubling complaints. The positive reviews, while real, do not offset the serious red flags raised by users who lost large sums and received no recourse.

For traders who still wish to consider SolisMarkets, FXCanary strongly recommends taking the following steps: - Verify the FSCA licence number 45583 directly on the FSCA website and confirm that it authorises the specific services you intend to use. - Start with the absolute minimum deposit and test a withdrawal early, before committing larger sums. - Document all communications with agents, and require written confirmation of all terms, fees, and withdrawal conditions. - Never deposit more than you can afford to lose, and beware of any agent urging higher deposits. - Monitor Trustpilot and other review sites for any sudden spike in withdrawal complaints, which often precedes a collapse.

In summary, SolisMarkets is not a broker we can recommend. Its structure and user record suggest a high probability of financial loss, and the regulatory safety net is thin. Experienced, wealthy traders might survive the risks, but for everyone else, the prudent choice is to look elsewhere for a fully transparent, multi‑regulated broker with a proven track record of honouring withdrawals.