Solidecn.com Reviews

Based on checking the website, Solidecn.com appears to be an online trading platform specializing in Forex and Contracts for Difference CFDs. Given the nature of CFDs and Forex trading, it’s crucial to understand that these financial products inherently involve significant risk due to leverage, which can amplify both gains and losses.

From an Islamic perspective, engaging in such highly speculative trading, particularly with leveraged products and instruments that involve interest even if hidden or implicit in spreads and swaps, as commonly found in conventional finance, raises serious concerns regarding Riba interest and Gharar excessive uncertainty or deception. While the platform mentions “Swap Free” accounts for “religious traders,” the underlying mechanics of CFD trading and the potential for Riba in other aspects of the business model still require careful scrutiny to ensure full compliance with Islamic financial principles.

For a believer, seeking financial growth should always be aligned with ethical and permissible means, prioritizing honest trade and tangible asset-backed transactions over speculative ventures.

Find detailed reviews on Trustpilot, Reddit, and BBB.org, for software products you can also check Producthunt.

IMPORTANT: We have not personally tested this company’s services. This review is based solely on information provided by the company on their website. For independent, verified user experiences, please refer to trusted sources such as Trustpilot, Reddit, and BBB.org.

Solidecn.com Review & First Look: A Deep Dive into Their Offerings

Based on its homepage, Solidecn.com positions itself as a global Forex trading specialist offering access to over 200 products via the MetaTrader 5 platform.

They highlight unique selling propositions such as “No minimum deposit” on ECN accounts, “Reduced spread – from 0 pips,” and “Increased leverage up to 1:1000.” While these features might seem appealing to conventional traders, it’s essential to critically examine them through the lens of Islamic finance.

The promise of high leverage, for instance, significantly increases the risk exposure, which goes against the Islamic principle of avoiding excessive risk Gharar.

Initial Impressions and User Interface

The website presents a clean and modern interface, with clear sections for their offerings, account types, and regulatory information.

The use of live market data on the homepage aims to immediately immerse visitors in the trading environment. Icubes.co.uk Reviews

However, the sheer volume of financial jargon and rapid market fluctuations displayed can be overwhelming for newcomers and can contribute to a sense of urgency that might encourage hasty decisions, which is not advisable in any financial dealings, especially those with inherent risks.

Regulatory Information and Disclaimers

Solidecn.com states it is “authorized and regulated by the Comoros Union with reference number HY00623411.” They also include prominent risk warnings, explicitly stating that Forex and CFDs “carry a high level of risk since leverage can work both to your advantage and disadvantage.

As a result, these products may not be suitable for all investors, as loss of all invested capital may occur.” This level of transparency regarding risk is a standard regulatory requirement, but it also serves as a stark reminder of the volatile nature of the products offered, which should give pause to anyone seeking stable and ethically sound investments.

Solidecn.com Pros & Cons: An Assessment from an Islamic Perspective

When evaluating a platform like Solidecn.com, it’s crucial to consider not just the superficial benefits but also the inherent risks and ethical implications.

From an Islamic finance viewpoint, the “pros” often come with significant “cons” that can make such ventures impermissible. Timidities.com Reviews

The Allure of High Leverage and “Zero Swap”

Cons:

• High Leverage Up to 1:1000: While presented as a benefit, extremely high leverage is a double-edged sword. It means a small market movement against your position can lead to substantial and rapid losses, often exceeding initial capital. This introduces excessive Gharar uncertainty and risk, which is forbidden in Islamic finance. The core principle encourages participation in real economic activities with a clear understanding of risk, not amplified speculation. For instance, a 1:1000 leverage means for every $1 you put in, you control $1000 of the asset. If the asset moves just 0.1% against you, you’ve lost 100% of your initial capital. Data from regulatory bodies often shows that 70-85% of retail CFD accounts lose money, primarily due to leverage.
• “Zero Swap on Major FX Pairs” for 7 days: This feature is marketed to “religious traders” to avoid interest. While commendable in intent, it doesn’t necessarily make the underlying transaction permissible. The issue of Riba in Forex and CFD trading goes beyond just explicit overnight interest swaps. It can be embedded in the concept of selling something one doesn’t own short-selling of assets without a legitimate contract, or in the time value of money embedded in the pricing mechanisms, even if the “swap” is zeroed out for a short period. The core problem often lies in the nature of CFDs themselves – they are contracts speculating on price movements, not actual ownership or transfer of assets, which is a key requirement for permissibility in Islamic finance. After the 7-day period, swaps apply, clearly indicating the presence of Riba.
• Speculative Nature of CFDs: Contracts for Difference CFDs are fundamentally speculative instruments. You don’t own the underlying asset e.g., a share, a commodity. you are simply betting on its price movement. This resembles gambling Maysir and lacks the productive economic activity that Islamic finance encourages. The high volatility of assets like cryptocurrencies and commodities further exacerbates this speculative nature.

Potential Drawbacks and Ethical Considerations

• Lack of Tangible Asset Ownership: In Islamic finance, transactions should ideally involve the transfer of ownership of a real, identifiable asset. CFDs bypass this, focusing solely on price differentials. This disconnect from real economic activity makes them problematic.
• Complex Financial Products: The complexity of Forex and CFD trading means that many retail investors may not fully grasp the mechanisms or the risks involved. This information asymmetry can be seen as a form of Gharar.
• High Probability of Loss: Statistics across the industry consistently show that a vast majority of retail traders lose money trading CFDs. For example, the European Securities and Markets Authority ESMA reported in 2017 that across EU jurisdictions, 74-89% of retail investor accounts lose money when trading CFDs. This high probability of loss, combined with the speculative nature, makes it a less desirable, and potentially impermissible, avenue for wealth accumulation from an Islamic standpoint.
• Jurisdiction Concerns: The regulation by the Comoros Union, while legitimate, may not offer the same level of investor protection or oversight as financial authorities in major global financial centers. This could expose traders to additional risks.
• Implicit Riba: Even with “zero swap” for a period, the underlying structure of CFD trading often involves elements that are considered Riba. For example, the broker effectively lends you money through leverage to facilitate a larger trade, and the return on this “loan” is implicitly derived from the spread or other charges, rather than a direct profit-sharing model. This is a subtle but significant distinction that many conventional analyses overlook.

Solidecn.com Alternatives: Pathways to Halal Wealth Building

Instead of engaging in highly speculative and potentially impermissible CFD and Forex trading, believers have numerous avenues for building wealth that align with Islamic principles.

These alternatives focus on real economic activity, tangible assets, and avoiding Riba, Gharar, and Maysir.

Ethical and Permissible Investment Options

• Halal Equity Investing: Investing in publicly traded companies that comply with Shariah guidelines. This involves screening companies for:
  • Permissible Business Activities: Avoiding companies involved in alcohol, tobacco, gambling, conventional finance interest-based, pornography, and pork products.
  • Financial Ratios: Ensuring debt levels, interest-bearing assets, and non-compliant revenues are below specific thresholds e.g., often 33% for debt, 5% for non-compliant income.
  • Real Economic Value: Investing in companies that produce goods or provide services, contributing to the real economy.
  • Platforms like Wahed Invest, Amana Mutual Funds, or specific halal ETFs offer curated portfolios. Data from Reuters Islamic Finance shows the global Islamic finance industry was projected to reach $4.94 trillion by 2025, indicating a growing market for Shariah-compliant investments.
• Real Estate Investment: Acquiring physical properties for rental income or capital appreciation. This is a tangible asset that generates real returns. Options include direct ownership, or participating in Shariah-compliant real estate investment trusts REITs or crowdfunding platforms that avoid interest-based financing. The stability and tangible nature of real estate make it a preferred asset class.
• Halal Commodity Trading Spot Transactions: Engaging in the actual buying and selling of physical commodities e.g., gold, silver, agricultural products where immediate delivery and possession take place. This avoids the speculative nature of CFD contracts where ownership never transfers. Physical gold and silver, for example, have long been considered a safe haven and a permissible store of wealth.
• Sukuk Islamic Bonds: These are Shariah-compliant financial certificates that represent undivided beneficial ownership in tangible assets, rather than debt. They provide returns based on the performance of these assets, adhering to profit-and-loss sharing principles, avoiding fixed interest payments. The global Sukuk market reached $711 billion in 2023, demonstrating its viability as an alternative to conventional bonds.
• Ethical Businesses and Entrepreneurship: Investing in or starting businesses that provide permissible goods or services. This directly contributes to economic development and job creation, embodying the spirit of legitimate trade.
• Islamic Crowdfunding: Platforms that facilitate investment in startups or projects based on Mudarabah profit-sharing or Musharakah joint venture contracts, avoiding interest.

Focusing on Real-World Value and Ethical Practices

The essence of Islamic finance is to connect financial transactions with real economic activity and to promote fairness, transparency, and social justice.

Instead of trying to profit from mere price fluctuations of instruments you don’t own, focus on: Razorstorm.co.uk Reviews

• Productive Assets: Investing in assets that generate income through their use or production.
• Risk Sharing: Participating in ventures where risk is shared between parties, rather than offloaded onto one side through fixed interest.
• Avoidance of Excessive Speculation: Steering clear of financial instruments whose value is primarily driven by speculation rather than intrinsic worth or productive capacity.
• Charity Sadaqah/Zakat: Regularly purifying wealth through charitable giving is an integral part of Islamic financial ethics, ensuring that wealth circulates and benefits society.

By prioritizing these alternatives, believers can build sustainable wealth that not only brings worldly benefits but also earns reward in the Hereafter, free from the doubts and potential prohibitions associated with conventional speculative trading.

Solidecn.com Pricing: Understanding Their Fee Structure

Solidecn.com outlines different account types with varying pricing structures, primarily based on spreads and commissions.

While they claim “Zero Deposit Fee,” the costs associated with trading Forex and CFDs are primarily embedded in spreads and, for some account types or after grace periods, in swaps interest.

Account Types and Associated Costs

Solidecn.com offers three main account types: Micro, Standard, and ECN. Each has distinct pricing characteristics:

• Micro Account:
  • Minimum Deposit: $1
  • Spread: From 2 pips
  • Fee: 0
  • Minimal Trade: 0.001 lots
  • Maximum Leverage: 1:1000
  • Analysis: This account targets beginners with a low entry barrier $1. However, a 2-pip spread on major pairs can be considered high in the competitive Forex market, meaning the cost of each trade is substantial.
• Standard Account:
  • Minimum Deposit: $10
  • Spread: From 0.3 pips
  • Minimal Trade: 0.01 lots
  • Analysis: With a lower spread 0.3 pips, this account is more competitive. The “Fee 0” refers to commissions per trade, meaning the cost is entirely in the spread. This is a common model for many brokers.
• ECN Account:
  • Spread: From 0
  • Fee: $2 per lot, likely round turn
  • Analysis: ECN Electronic Communication Network accounts typically offer raw spreads closer to 0 in exchange for a fixed commission per trade. This model is often preferred by experienced traders seeking tighter spreads. A $2 fee per lot which usually means $2 to open and $2 to close a trade, totaling $4 per round turn lot is competitive for ECN pricing.

Understanding Spreads and Swaps

• Spreads: This is the difference between the buy ask and sell bid price of a currency pair or CFD. It’s how the broker makes money on commission-free accounts. A wider spread means a higher cost for each trade. Solidecn.com advertises “Reduced spread – from 0 pips” on ECN accounts, which is attractive, but it’s important to remember the commission is charged instead.
• Swaps Overnight Interest: As mentioned, Solidecn.com offers “7 days Zero Swap on Major FX Pairs.” However, beyond this grace period, or on other instruments, swaps apply. A swap is the interest differential between the two currencies in a pair, either paid or received for holding a position overnight. The presence of swaps explicitly highlights the Riba interest element, making such positions problematic from an Islamic finance perspective. The JPY pairs, for instance, explicitly state, “Effective August 28, 2024, all existing and new positions on JPY Pairs will be subject to swaps without a grace period.” This confirms that Riba is an inherent part of their standard offerings.

Hidden Costs and Other Considerations

While Solidecn.com details its primary fees, traders should always be aware of other potential costs: Famo.dk Reviews

• Inactivity Fees: Some brokers charge a fee if an account remains dormant for an extended period. Not explicitly stated on Solidecn.com’s homepage, but common in the industry.
• Withdrawal Fees: Fees may apply when withdrawing funds, depending on the method used.
• Margin Call and Stop Out Levels: While not a direct fee, these are critical thresholds where your position is automatically closed due to insufficient margin, leading to realized losses. Understanding these is vital for risk management.
• Data Fees: Access to certain advanced trading tools or real-time data feeds might incur separate charges on some platforms.

The pricing structure, particularly the reliance on spreads and the eventual application of swaps, reinforces the concern about Riba and the speculative nature of the platform’s offerings.

For those committed to Islamic financial principles, the direct costs are only one part of the equation.

The permissibility of the underlying financial instrument is the more fundamental consideration.

Solidecn.com vs. Other Trading Platforms: A Comparative View

Comparing Solidecn.com with other trading platforms, particularly those that offer Shariah-compliant alternatives, highlights the distinct philosophical approaches to financial markets.

While Solidecn.com focuses on conventional Forex and CFD trading, the alternatives aim to provide ethical, Riba-free, and Gharar-minimized investment opportunities. Dukwin.com Reviews

Conventional CFD/Forex Brokers e.g., IG, Plus500, FXCM

• Similarities with Solidecn.com:
  • Offer CFDs on a wide range of assets Forex, indices, commodities, stocks, crypto.
  • High leverage options.
  • Profit primarily from spreads and/or commissions.
  • Provide access to MetaTrader 4/5 platforms.
  • Often include “risk warnings” due to the high probability of retail account losses e.g., Plus500 states 77% of retail CFD accounts lose money.
• Key Differences:
  • Regulatory Environment: Major brokers are often regulated by Tier-1 authorities FCA in UK, CySEC in EU, ASIC in Australia, which typically offer stronger investor protection, segregated accounts, and compensation schemes compared to offshore regulations like Comoros Union. For example, the FCA requires brokers to adhere to stringent capital requirements and client money rules.
  • “Swap-Free” Options: While Solidecn.com offers 7-day swap-free on major pairs, many other conventional brokers offer permanent “Islamic accounts” or “swap-free accounts” that permanently remove overnight interest for specific assets. However, as discussed, this doesn’t fully resolve the underlying permissibility issues of CFDs themselves.
  • Product Breadth: Some larger brokers might offer an even wider array of products, including direct stock trading, options, or futures, beyond just CFDs.

Shariah-Compliant Investment Platforms e.g., Wahed Invest, Amana Mutual Funds

• Fundamental Differences from Solidecn.com:
  • Investment Philosophy: These platforms are built entirely on Islamic finance principles, strictly avoiding Riba, Gharar, and Maysir.
  • Product Offerings: They primarily offer investments in:
    • Halal Stocks: Equities of Shariah-compliant companies. Wahed Invest, for example, offers portfolios composed of global halal stocks and Sukuk.
    • Sukuk: Islamic bonds representing ownership in tangible assets, rather than interest-bearing debt.
    • Halal Real Estate Funds: Investments in ethical property ventures.
    • Gold-Backed Investments: Direct ownership of physical gold or gold-backed funds, rather than speculative gold CFDs.
  • Risk Profile: Generally lower risk profile compared to leveraged CFD trading, as they focus on long-term growth from productive assets rather than short-term price speculation.
  • Regulation: Often regulated in major jurisdictions e.g., SEC in the US and have Shariah advisory boards to ensure compliance. For example, Wahed Invest is SEC-registered.
  • No Leverage: Typically, these platforms do not offer high leverage for speculative trading, aligning with the principle of avoiding excessive risk.
  • No Swaps/Interest: All transactions are structured to be free from interest.
  • Transparency: Greater transparency on asset ownership and underlying transactions.

Key Takeaway: While Solidecn.com caters to those seeking conventional, high-leverage CFD and Forex trading, its inherent characteristics – particularly the speculative nature of CFDs, the use of leverage, and the presence of swaps even if temporarily waived – make it problematic from an Islamic finance standpoint. Shariah-compliant alternatives offer a fundamentally different approach, prioritizing ethical conduct, real economic value, and the avoidance of prohibited elements like Riba and excessive Gharar. For a believer, the latter provides a path to wealth accumulation that aligns with divine guidance.

Solidecn.com Data Security and Compliance

Solidecn.com highlights several aspects related to data security and legal compliance on its website.

While they list standard security measures, it’s important to assess these within the broader context of online financial platforms and the specific regulatory environment they operate within.

Security Measures Highlighted

• Data Security: The website generally states “Data Security” without elaborating on specific encryption protocols e.g., SSL/TLS, firewalls, or intrusion detection systems. In the financial sector, robust cybersecurity is paramount to protect sensitive client information and funds.
• Tier 1 Banks: They mention “Tier 1 Banks” which typically refers to major, globally recognized financial institutions known for their stability and large capital reserves. This suggests they use such banks for holding client funds, which is a positive sign for fund segregation and safety.
• Trading Insurance: The term “Trading Insurance” is used. This typically refers to professional indemnity insurance held by brokers to cover certain operational risks, or potentially deposit insurance if the regulator mandates it. However, it’s not a guarantee against trading losses.
• Segregated Accounts: This is a crucial feature for client fund protection. Segregated accounts mean that client funds are held separately from the company’s operational funds. In the event of the broker’s insolvency, client funds in segregated accounts are theoretically protected from creditors. This is a common and important regulatory requirement in many jurisdictions.
• Legal Compliance: A general statement indicating adherence to legal requirements. This is broad and needs to be substantiated by specific regulatory oversight.
• 2F Authentication: This likely refers to Two-Factor Authentication 2FA, an essential security feature that adds an extra layer of protection to user accounts. When enabled, users need to provide two forms of verification e.g., password and a code from a mobile app to log in, significantly reducing the risk of unauthorized access. According to a Microsoft study, 2FA can block over 99.9% of automated attacks.

Regulatory Oversight and Disclaimers

Solidecn.com states it is “authorized and regulated by the Comoros Union with reference number HY00623411.”

• Comoros Union Regulation: While a legitimate regulatory body, the Comoros Union’s financial regulatory framework may differ significantly from those in major financial hubs like the UK FCA, EU CySEC, or Australia ASIC. These Tier-1 regulators often impose stricter capital requirements, higher levels of investor protection, and more robust dispute resolution mechanisms. Traders should research the specific protections offered by the Comoros Union regulation.
• Geographic Restrictions: Solidecn.com explicitly states, “Solid ECN Securities LLC and its affiliates does not provide services to residents of the USA, Japan, Canada, Australia, the Democratic Republic of Korea, European Union, United Kingdom, Iran, Syria, Sudan and Cuba.” This is a common practice for brokers operating under specific regulatory licenses, as they cannot serve clients from jurisdictions where they are not authorized or where specific sanctions apply. It highlights the limited scope of their service offering based on their regulatory footprint.
• Risk Warnings: The persistent and clear risk warnings across the site “high level of risk,” “loss of all invested capital may occur” are a form of legal compliance and a necessary disclosure. They underscore the inherent dangers of CFD and Forex trading.

While Solidecn.com outlines several standard security measures, the choice of regulator and the products offered high-leverage CFDs mean that potential users must conduct thorough due diligence. Vector-air.co.uk Reviews

For a believer, beyond basic security, the more pressing concern is the ethical and Shariah compliance of the financial instruments themselves.

How to Cancel Solidecn.com Subscription / Account

Based on the publicly available information on Solidecn.com’s website, there isn’t a direct “cancel subscription” button or a dedicated section explaining account closure procedures.

This is common for brokerage accounts, which are typically managed differently from recurring subscriptions.

However, general industry practices and the available contact information suggest the process would involve direct communication with their support team.

Steps to Initiate Account Closure

Since Solidecn.com is a trading platform and not a service with a recurring subscription, “cancellation” typically means closing your trading account. Volleyballworld.tv Reviews

Here’s a general approach based on typical brokerage procedures:

1. Withdraw All Funds: Before attempting to close your account, ensure all your funds have been successfully withdrawn. You’ll need to follow Solidecn.com’s withdrawal procedures, which usually involve logging into your client portal, selecting a withdrawal method, and submitting a request. Be aware of any minimum withdrawal amounts or potential fees.
2. Close All Open Positions: Make sure you do not have any open trading positions buy or sell orders. All trades must be closed before you can initiate account closure.
3. Contact Customer Support: The most direct way to close a trading account is to contact the broker’s customer support team. Solidecn.com provides contact details:
   • Email:
   • Phone Comoros: +269 32 84 355
   • Phone UK: +44 1224 015127
   • Physical Address: Oasis Moroni,RN1 bureau No 03 Rez-de-chaussée, Comoros Union though email or phone is more practical for closure.
4. State Your Intent Clearly: When you contact them, clearly state your intention to close your trading account. You may be asked for your account number and verification details for security purposes.
5. Follow Their Instructions: The support team will guide you through their specific account closure process. This might involve:
   • Filling out an account closure form.
   • Confirming your identity.
   • Acknowledging that your account balance is zero or that you have successfully withdrawn all funds.
   • Confirming you understand that all future trading access will be terminated.
6. Confirm Closure: Request written confirmation e.g., via email that your account has been successfully closed. This provides a record for your peace of mind.

Important Considerations Before Closing

• Outstanding Trades: Double-check that all positions are closed. Having open trades will prevent account closure.
• Negative Balance: While Solidecn.com mentions “Negative Balance Protection,” ensure there are no outstanding liabilities or negative balances that need to be resolved.
• Tax Implications: Be mindful of any tax implications related to your trading activities before closing your account. Consult with a tax professional if needed.
• Data Retention: Be aware that brokers are often legally required to retain client data for a certain period even after account closure, for regulatory and compliance purposes.

Given the high-risk nature of the products offered by Solidecn.com, ensuring a clean and complete account closure is important to avoid any lingering liabilities.

For those seeking to transition to more permissible financial activities, closing such an account is a crucial step.

How to Cancel Solidecn.com Free Trial

Based on the information available on Solidecn.com’s homepage, there is no mention of a “free trial” in the traditional sense, nor any clear subscription model that would typically offer one. Online Forex and CFD brokers generally operate on a live trading account model, often with a low minimum deposit or a demo account.

Absence of a Traditional Free Trial

Unlike software services or streaming platforms that offer a trial period before converting to a paid subscription, Solidecn.com appears to follow the standard brokerage model: Fujn.com Reviews

• Demo Accounts: Most Forex/CFD brokers offer “demo accounts” where users can practice trading with virtual money in a simulated environment. This is a common feature on MetaTrader 5, which Solidecn.com uses. These demo accounts are typically free, do not expire, and do not automatically convert to live accounts or incur charges. They are a “try before you buy” mechanism for the trading platform itself, not a trial for a specific service or subscription.
• Live Trading Accounts: Solidecn.com’s primary offering revolves around opening live trading accounts Micro, Standard, ECN with a minimum deposit as low as $1. Once funds are deposited, trading activity incurs spreads and/or commissions. There is no “trial period” for a live account. you either fund it and trade, or you don’t.

What to Do If You’ve Opened a Demo Account

If you have signed up for what you perceived as a “free trial” and it’s actually a demo account, there’s generally no action required to “cancel” it, as it doesn’t involve recurring charges or financial obligations.

1. Simply Stop Using It: Demo accounts are typically inactive if you don’t log in and use them. They usually don’t convert to live accounts or incur fees.
2. No Automatic Conversion: Rest assured that a demo account will not automatically turn into a live, funded account, nor will it charge your credit card or bank account.
3. If You Want to Remove Data: If you wish to have your personal data removed from their systems beyond simply abandoning the demo account, you would need to contact Solidecn.com’s customer support using the email or phone numbers provided on their website.

What to Do If You’ve Opened a Live Account with a Small Deposit

If you made a minimal deposit e.g., $1 for a Micro account thinking it was part of a trial, and now wish to stop:

1. Cease Trading: Do not place any more trades.
2. Withdraw Remaining Funds: Log into your client portal and initiate a withdrawal of any remaining balance in your account.
3. Close Your Account: Follow the steps outlined in the “How to Cancel Solidecn.com Subscription / Account” section above by contacting their customer support to formally close your live trading account.

In summary, the concept of a “free trial” doesn’t directly apply to Solidecn.com’s business model.

Users typically engage with them through free demo accounts or live trading accounts.

If you have concerns about an active account, contacting their support team is always the best course of action. Best-wallet.net Reviews

Solidecn.com Legal Disclaimers and Risk Warnings

Solidecn.com prominently displays several legal disclaimers and risk warnings, which is a regulatory requirement for financial service providers dealing in high-risk instruments.

These disclaimers serve to inform potential clients about the inherent dangers of trading Forex and Contracts for Difference CFDs. From an Islamic perspective, these warnings also highlight the problematic nature of these products due to excessive risk and uncertainty.

Key Disclaimers and Their Implications

1. “Foreign Exchange ‘Forex’ or ‘FX’ and Contracts for Difference ‘CFDs’, which are complex financial products that are traded on margin.”

   • Implication: This immediately flags the instruments as complex and leverage-based. Leverage trading on margin amplifies both gains and losses. For example, if you trade with 1:1000 leverage, a mere 0.1% adverse price movement can wipe out your entire capital. This extreme amplification of risk introduces Gharar excessive uncertainty, which is strongly discouraged in Islamic finance.

2. “They carry a high level of risk since leverage can work both to your advantage and disadvantage. As a result, these products may not be suitable for all investors, as loss of all invested capital may occur.”

   • Implication: This is the core risk warning. It explicitly states that you can lose all your invested capital. This level of risk, especially when amplified by leverage, moves away from the Islamic principle of preserving wealth and engaging in productive, less speculative ventures. Data from regulators like the European Securities and Markets Authority ESMA and even brokers themselves consistently show that a large majority 70-85% or more of retail traders lose money when trading CFDs. This isn’t just a possibility. it’s a statistical probability against the retail trader.

3. “You should not risk more than you are prepared to lose.” Stickitup.xyz Reviews

   • Implication: While sound advice, it doesn’t mitigate the inherent risk of the products. It simply places the onus of risk management entirely on the individual, who might be swayed by the promise of high returns.

4. “Before deciding to trade, you need to ensure that you understand the risks involved and consider your investment objectives and level of experience. Seek independent advice, if necessary.”

   • Implication: This encourages due diligence, but the complexity of these instruments often means that even with advice, the average retail trader may not fully grasp the intricacies or the psychological pressures of leveraged trading.

5. “Solid ECN Securities LLC does not issue advice, recommendations or opinions in relation to acquiring, holding or disposing of a CFD. Solid ECN Securities LLC is not a financial advisor and all services are provided on an execution-only basis.”

   • Implication: This clarifies that the platform is merely a facilitator of trades, not an advisor. Traders are solely responsible for their decisions, further emphasizing the need for self-awareness regarding the high risks involved.

6. “This communication is not an offer or solicitation to enter into a transaction and shall not be construed as such. This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.”

   • Implication: Standard legal boilerplate, protecting the broker from being deemed to solicit clients in restricted jurisdictions or offer financial advice.

7. “Solid ECN Securities LLC is authorized and regulated by the Comoros Union with reference number HY00623411.”

   • Implication: While providing regulatory information, as discussed, the level of investor protection and oversight may vary significantly compared to Tier-1 regulators.

From an Islamic Perspective: These disclaimers, while legally mandated, serve as strong cautionary tales. The explicit warnings about the “high level of risk” and the potential “loss of all invested capital” directly contradict the Islamic principle of preserving wealth and avoiding transactions that involve excessive speculation or undue risk Gharar. The very nature of products that carry such warnings should prompt a believer to seek more stable, ethical, and permissible avenues for financial growth, focusing on tangible assets and productive economic activity. The inherent risk and the statistical likelihood of loss underscore why such ventures are viewed with caution in Islamic finance. Berglust.shop Reviews

Frequently Asked Questions

Is Solidecn.com a legitimate trading platform?

Yes, Solidecn.com states it is authorized and regulated by the Comoros Union with reference number HY00623411. However, the level of oversight and investor protection provided by this regulatory body should be researched by potential users.

What products can I trade on Solidecn.com?

You can trade over 200 products including Forex currency pairs, Indices, Commodities energies, metals, Stock CFDs, and Cryptocurrencies, all through the MetaTrader 5 platform.

Does Solidecn.com offer “Swap Free” accounts?

Yes, Solidecn.com offers “7 days Zero Swap on Major FX Pairs” for “religious traders.” However, after this grace period, or for certain instruments like JPY pairs, swaps overnight interest will apply.

What is the maximum leverage offered by Solidecn.com?

Solidecn.com offers a maximum leverage of up to 1:1000 across all its account types Micro, Standard, ECN.

What are the minimum deposit requirements for Solidecn.com accounts?

The minimum deposit is $1 for a Micro Account and $10 for both Standard and ECN Accounts. Nole-cosmetics.nl Reviews

Are there any deposit fees on Solidecn.com?

No, Solidecn.com states “Zero Deposit Fee,” meaning they cover transaction fees, and you receive your actual deposit instantly without deduction.

What trading platform does Solidecn.com use?

Solidecn.com exclusively uses the MetaTrader 5 MT5 trading platform, available for PC, laptop, tablet, mobile, and MT5-web.

Is trading on Solidecn.com suitable for beginners?

While Solidecn.com offers a low minimum deposit $1 on its Micro account, trading Forex and CFDs carries a high level of risk due to leverage, and “loss of all invested capital may occur.” It is generally recommended for experienced investors who understand the risks involved.

How does Solidecn.com protect client funds?

Solidecn.com mentions “Segregated Accounts” and uses “Tier 1 Banks,” implying client funds are held separately from the company’s operational funds to enhance protection.

What security measures does Solidecn.com implement for accounts?

Solidecn.com mentions “2F Authentication” Two-Factor Authentication to secure user accounts. Dixiejane.co.za Reviews

Can I trade cryptocurrencies on Solidecn.com?

Yes, you can trade top cryptocurrencies instantly on Solidecn.com’s MetaTrader platform.

Does Solidecn.com provide financial advice?

No, Solidecn.com explicitly states that Solid ECN Securities LLC “does not issue advice, recommendations or opinions” and “is not a financial advisor.” Services are provided on an “execution-only basis.”

What is the typical spread on Solidecn.com?

Spreads vary by account type: from 2 pips on Micro accounts, from 0.3 pips on Standard accounts, and from 0 pips on ECN accounts with a $2 commission per lot.

Are there any countries where Solidecn.com does not provide services?

Yes, Solidecn.com does not provide services to residents of the USA, Japan, Canada, Australia, the Democratic Republic of Korea, European Union, United Kingdom, Iran, Syria, Sudan, and Cuba.

How do I contact Solidecn.com customer support?

You can contact them via email at , or by phone at +269 32 84 355 Comoros or +44 1224 015127 UK. Dreamdays.ae Reviews

Does Solidecn.com offer trading signals?

Yes, Solidecn.com offers access to the Trading Signals service in MetaTrader 5, allowing users to select and subscribe to signals from successful traders.

What is “Negative Balance Protection” on Solidecn.com?

Solidecn.com offers “Negative Balance Protection” Solid-Shield to ensure that clients are not responsible for paying back a negative balance, protecting them from owing more than their deposited capital.

Can I use Expert Advisors EAs on Solidecn.com?

Yes, since Solidecn.com uses MetaTrader 5, you can run expert advisors trading robots, indicators, or scripts from the MQL5 Market directly on your platform.

What are the risks associated with trading on Solidecn.com?

The platform explicitly warns that Forex and CFDs “carry a high level of risk” due to leverage, and “loss of all invested capital may occur.” These products are “not suitable for all investors.”

How do I close my Solidecn.com trading account?

To close your Solidecn.com account, you typically need to withdraw all funds, close all open positions, and then contact their customer support via email or phone to formally request account closure and follow their specific instructions. Cleanandpuresoap.co.uk Reviews

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