Solidary Markets FX is not a regulated or licensed broker for traders even though it states offers that look good to be true.
Solidary Markets FX claims to be authorized by New Zealand Financial Markets Authority (NZ FMA). We searched NZ FMA and found a matching result. However, Solidary Markets FX has not authorized to provide forex services, according to NZ FMA.
More importantly, the Spanish regulator CNMV added Solidary Markets FX into the unregulated firm alert, warned that Solidary Markets FX ("SMFX") is not authorised to carry out investment services and activities in Spain as a result of lacking necessary authorization. You can check the full warning from here.
These proofs make it clear: Solidary Markets FX is actually not regulated by any regulators to provide forex services. That means investors' funds in the broker is unsafe and cannot be protected by any laws. We would recommend traders stay away from unregulated brokers like Solidary Markets FX and trade with licensed brokers.
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