⭐ Solid ECN Journal
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Solid ECN Profile
Website
Year
2021
Country
Comoros
Branches
2
Regulation
MISA Comoros
Registration
MISA Comoros, FSA SVG, AOFA Anjouan
Investor protection
Fund protection
no
Publicly traded
no
Restricted in
Not serving
х Afghanistan, Africa, Australia, Austria, Belarus, Belgium, Bulgaria, Canada, Croatia, Cuba, Cyprus, Czechia, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iran, Ireland, Israel, Italy, Japan, Latvia, Lithuania, Luxembourg, Malta, Myanmar, Netherlands, New Zealand, North Korea, Palestine, Poland, Portugal, Romania, Russia, Slovakia, Slovenia, Spain, Sudan, Sweden, Syria, Turkey, UK, US, Ukraine, Venezuela, Yemen
Broker type
MM, ECN-style pricing
Dealing book
A+B Hybrid book
Execution model
DD + NDD
Licensed as
Principal
Operating as
Principal, Matched Principal
Tier
3
Execution speed
200 ms
LPs total
8
LPs quality
Tier-1 Banks, Tier-2 PoPs, MFTs, Other
LPs names
ALB, B2Broker, FXCM, GKFX, IS Prime, Invest AZ, LMAX, Menkul, Swissquote
Solid ECN Accounts
MM
ECN
Minimum Deposit
1 $
1 $
Leverage
1000 : 1
1000 : 1
Minimum Lot
0.01 lots
0.01 lots
EURUSD spread
1 pips
0 pips
Commission
0 $/lotRT
8 $/lotRT
Volume
50 lots
50 lots
Margin Call
100 %
100 %
Stop Out
30 %
30 %
Execution
Market
Market
Spread
floating
floating
Scalping
no
no
Deposit & Fees
Deposit methods
Perfect Money, Tether, TRON, Monero, Bitcoin, Bitcoin Cash, DAI, Dogecoin, Ethereum, Litecoin, USD Coin, Binance USD, Ripple
Base currency
USD, EUR, GBP, CAD, TRY, BTC
Segregated accounts
yes
Interest on margin
no
Inactivity fee
none
| Update broker |
- Full listing profile: Solid ECN broker profile
Is Solid ECN safe?
- Investor protection: no
- Regulation: MISA Comoros
- Registration: MISA Comoros, FSA SVG, AOFA Anjouan
- Publicly traded: no
- Segregated account: yes
- Guaranteed Stop Loss: no
- Negative Balance Protection: yes
Is Solid ECN trusted?
- Information transparency: limited
★★ - Customer service: virtually non-existent
★ - Solid ECN website: semi-detailed, updated
★★★ - Solid ECN popularity (by visitor count): low visits
★★
How Solid ECN works
Solid ECN is a non-dealing desk broker, meaning that we do not carry on order flow to market makers. Rather, we match participants in a trade electronically and pass the orders to liquidity providers.
Scalping - Fast order executions and small spreads allow Solid ECN to become a safe house for high-volume scalping strategies.
https://solidecn.com/AccountTypes/Ecn
Is Solid ECN an A-book or B-book broker?
Solid ECN is an A-Book NDD (no-dealing desk), non-market-maker brokerage company, which provides STP and ECN accounts.
https://solidecn.com/CompanyInfo/Faq
1.2 This Agreement establishes mutual commitments of the Parties, which arise in the course of conversion of arbitrage transactions with contracts for financial instruments in compliance with the Terms of Business.
6.4 The time of processing the Client’s orders is not a fixed parameter as it depends on the market conditions and the speed of order execution on the side of the Company’s partners.
The Company has the right to change the values of spreads, swaps (financing fee), Swap-Free commission and dividends specified in the contract specifications without informing the Client about it in advance.
6.17 In situations when there is a significant reduction of liquidity, the Company has the right to forbid trading some particular instrument or several instruments or make the trading allowed in "Close Only" mode.
6.20 Solid ECN Securities strictly prohibits the practice known as "aggressive scalping." For the purposes of this policy, "aggressive scalping" is defined as any trading activity aimed at securing minimal gains per trade, specifically gains ranging from one (1) to five (5) pips, or any trade maintained for a duration less than five (5) minutes.
https://solidecn.com/Content/documents/client-agreement.pdf
Conclusion:
The Client Agreement terms point out to an offshore retail Forex CFD execution-style model operating on OTC market, and not a pure ECN agent-style model setup.
E.g. the Client Agreement does not explicitly state that Solid ECN acts only as agent, and/or that all orders are routed straight though to the liquidity providers, or that the Company is never a counterparty to Client's trades.
In fact, the Agreement gives Company a broad dealing discretion: "changing swaps without notice", "declaring transactions as non-market", "changing leverage and margin requirements" and "add markup to FX spot conversion rates".
The Agreement also uses term "Dealer" in the definition of hedged margin. All of the above is more consistent with a definition of a typical retail OTC CFD Forex broker (Market maker) that with an Agency-style ECN broker.
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