Overview of Solid
Solid, established in 2006 and based in Cyprus, is a regulated financial services company overseen by CYSEC.
They offer a diverse range of services, including MICEX trading, derivative trading (options, futures, swaps), investment advising, and the granting of credits or loans, among others, attracting both individual and corporate clients.
Solid utilizes trading platforms such as QUIK and BLOOMBERG, indicating a commitment to providing robust tools for trading and investment.
The company ensures customer support through various channels, including phone, fax, and email, demonstrating their dedication to addressing client needs comprehensively.
Is Solid Legit or a Scam？
Solid is regulated by the Cyprus Securities and Exchange Commission (CySEC), a prominent regulatory authority in the financial services industry.
The company holds a Market Making (MM) license, which allows it to quote both buy and sell prices in the financial markets. Solid's license number with CySEC is 065/06, underscoring its compliance with the regulatory standards and legal requirements set forth by the Cypriot authority.
This regulation ensures that Solid adheres to strict financial and operational standards, providing a layer of security and trust for its clients.
Pros and Cons
Pros:
Regulated by CySEC: Solid's regulation by the Cyprus Securities and Exchange Commission ensures adherence to strict regulatory standards, enhancing client trust and security.
Diverse Financial Services: Offering a range of services such as MICEX trading, derivatives, investment advising, and more meet various investor needs and preferences.
Multiple Account Types: By accommodating individual and corporate clients, Solid demonstrates flexibility and a broad appeal to different types of investors.
Advanced Trading Platforms: Utilizing reputable platforms like QUIK and BLOOMBERG provides clients with robust tools for effective trading and analysis.
Comprehensive Customer Support: Solid's provision of multiple contact methods, including phone, fax, and email, ensures accessible and responsive customer service.
Cons:
Geographical Limitations: Being based in Cyprus and regulated by CySEC will limit the company's appeal to clients outside the European region who prefer a local regulatory environment.
Complexity for Beginners: The wide array of services and advanced trading platforms will be overwhelming for novice traders who are just starting out.
Market Making Model: As a market maker, Solid will have a potential conflict of interest, as they could benefit from client losses, which will concern some traders.
Limited Information: The overview provides limited information on specific fees, spreads, and other critical trading conditions that are important for making an informed decision.
Regulatory Focus: While CySEC is a respected regulator, some traders will prefer companies regulated by multiple agencies or those based in jurisdictions with a longer-standing reputation in financial regulation.
Products & Services
Solid Financial Services Ltd provides a comprehensive array of investment services, meeting a diverse client base. Here's an overview of the services they offer:
Brokerage: Solid offers user-friendly online trading on global stock exchanges, including shares and ADRs. They provide individualized leverage levels and stock options for MICEX trading, alongside derivative trading on world-leading platforms and access to Eurobonds, T-Bills, and REPO operations.
Trading Platforms: Clients have access to renowned trading platforms like QUIK and BLOOMBERG, enabling them to engage in various trading activities efficiently.
Markets: The company facilitates trading on the MOEX market, providing a platform for clients to engage in various financial instrument trades.
Main Investment Services: These include the reception and transmission of orders related to financial instruments, order execution on behalf of clients, dealing on own account, and providing investment advice.
Ancillary Investment Services: Solid offers safekeeping and administration of financial instruments, including custodianship and related services. They also provide credits or loans to clients engaged in financial instrument transactions.
Financial Instruments: Solid's services cover a wide range of financial instruments, such as transferable securities, money-market instruments, collective investment undertaking units, and various derivatives related to securities, currencies, commodities, and other financial indices.
Crossborder Services: Solid is authorized to offer investment and ancillary services in multiple EU member states and several non-EU jurisdictions, including the Russian Federation, Belarus, the British Virgin Islands, and Switzerland.
Account Types
Solid Financial Services Ltd offers two primary types of accounts meeting different client needs:
Individual Accounts: These accounts are designed for personal investors looking to trade securities without any volume limits. Ideal for trading online from home or the office, these accounts offer the flexibility to trade 24/7 from anywhere in the world. They feature a simple, intuitive, and user-friendly interface, enabling comfortable trading for individual traders.
Corporate Accounts: Tailored for businesses, these accounts address various corporate financial needs ranging from foreign currency purchases to short-term fund placements at favorable interest rates. Solid Financial Services Ltd is equipped to handle complex financial solutions for corporate clients, providing a robust platform for companies to manage their investment and trading activities.
How to Open an Account？
Opening an account with Solid Financial Services Ltd is a straightforward process designed to integrate new clients smoothly into their trading platform. Here's a step-by-step guide to getting started:
1. Application Submission: Begin by filling out the account application form available on Solid Financial Services Ltd's website. Provide all the necessary personal and financial information required to set up your account. Ensure the information is accurate and complete to facilitate a smooth approval process.
2. Documentation: After submitting your application, you will need to provide various documents for identity and residency verification. This typically includes a government-issued ID, proof of address, and possibly additional documents depending on regulatory requirements and the account type you're applying for.
3. Account Review and Approval: Once your application and documents are submitted, Solid Financial Services Ltd will review your application. This process ensures that all regulatory compliance measures are met. If everything is in order, your account will be approved, and you'll receive confirmation along with your account details.
4. Fund Your Account: After receiving your account details, you can proceed to fund your account using the accepted funding methods provided by Solid Financial Services Ltd. Once your funds are deposited and cleared, you're ready to start trading.
Trading Platform
Solid Financial Services Ltd provides its clients with access to two sophisticated trading platforms:
1. QUIK: This trading platform is widely recognized for its robust functionality and flexibility,satisfying various trading strategies and preferences. QUIK allows users to trade multiple asset classes, offering real-time market data, analytical tools, and automated trading options. Its user-friendly interface ensures that both novice and experienced traders can navigate and utilize the platform effectively for their trading activities.
2. BLOOMBERG: Renowned for its comprehensive market data, news, and analytics, the BLOOMBERG terminal is another trading platform offered by Solid Financial Services Ltd. It's a powerful tool for traders and investors, providing in-depth financial information, trading capabilities, and risk analysis tools.
Customer Support
Customer support for Solid Financial Services Ltd is readily available to answer any questions and provide necessary advice. You can reach out to them through the following means:
- Phone: Contact them at +357 25363680 for direct verbal communication.
- Fax: Send documents or inquiries via fax at +357 25363690.
- Email: For written communication or inquiries that are not urgent, you can email the support team at solid@solid.com.cy.
- Business Address: If you need to visit or send mail, their office is located at Pamelva Court, office 405, 1 Anastasiou Sioukri Street, 3105 Limassol, Cyprus.
These various channels ensure that clients have multiple ways to contact Solid Financial Services for support, advice, or any other needs related to their trading accounts or services.
Conclusion
Solid Financial Services Ltd, based in Cyprus, provides a comprehensive suite of financial and trading services for both individual and corporate clients.
With a strong regulatory framework under CYSEC and a variety of trading platforms and investment options, Solid meets a wide range of financial needs and objectives, ensuring accessibility through multiple customer support channels.
FAQs
Q: What types of accounts does Solid Financial Services Ltd offer？
A: Solid offers individual and corporate accounts, each tailored to meet the specific needs of personal investors and businesses, respectively.
Q: What trading platforms does Solid use？
A: Solid provides its clients with access to the QUIK and BLOOMBERG trading platforms.
Q: Is Solid Financial Services Ltd regulated？
A: Yes, Solid is regulated by the Cyprus Securities and Exchange Commission (CYSEC).
Q: Can I trade internationally with Solid？
A: Yes, Solid offers the ability to trade on international markets, including securities, derivatives, and various financial instruments.
Q: What investment services does Solid provide？
A: Solid offers main investment services like order execution, dealing on your own account, and investment advice, along with ancillary services like safekeeping and administration of financial instruments.
Q: How can I contact Solid Financial Services Ltd for support？
A: You can contact Solid via phone, fax, email, or by visiting their business address in Limassol, Cyprus.
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