FAQ

FAQ

Frequently Asked Questions

General Questions

Solid ECN is an A-Book NDD (no-dealing desk), non-market-maker brokerage company, which provides STP and ECN accounts.


What does it mean?

Compared to B-book brokers, there is no conflict of interest between clients and A-book brokers since the earnings of A-book companies are not equal to the losses of their clients. This makes A-book brokers more trustworthy.

Please, take into consideration the following deposit recommendations for different account types respectively:

For a "Micro" account the minimum deposit is $1.

for "Standard and ECN" account the minimum deposit is $10.

Please, kindly be informed that these are recommendations. The minimum deposit amount, in general, is $1. Please, consider that the minimum deposit for some electronic payment systems like Visa/Master cards or Bitcoin is $10. We would like to remind you that the deposits for less amounts are processed manually and may take longer.

If you wish to update your email address, please send an email to [email protected] from your registered email address.

If you wish to update your residential address, please send an email to [email protected] from your registered email address and upload the proof of address (not older than 6 months) confirming that address in the Members Area.

It is simple and quick. Click Open a Real Account, fill in the form and upon completion you will receive an email with your login details that you can use to log in to our secure Members Area. Here you will be able to fund your trading account by clicking the Deposits tab in the main menu. If you are already a Real Account holder you can open an additional account in the Members Area.

In case you fill out all the details correctly, it takes less than 5 minutes.

In 3 simple steps.

  1. Open an account
  2. Download the trading platform
  3. Fund your account and start trading.

You can find detailed guidance to our trading platforms here, and the verification levels here.


Account Verification

To make the trading experiences easier and to provide more privacy, the verification process is divided into 3 levels.


Level

Email Confirmation

Cell Phone Confirmation

ID 

Address Confirmation

Limits

Deposit

Withdrawal

Card & Local Payment

Bronze

Yes

No

No

No

$1,000

$1,000

No

Silver

Yes

Yes

Yes

No

No Limit

No Limit

No

Gold

Yes

Yes

Yes

Yes

No Limit

No Limit

Yes

Verification Level 1
A color copy of a valid passport or other official identification document issued by authorities (e.g. driver's license, identity card, etc). The identification document must contain the client's full name, an issue or expiry date.
Verification Level 2
A recent utility bill (e.g. electricity, gas, water, phone, oil, Internet and/or cable TV connection, bank account statement) dated within the last 6 months and confirming your registered address.

We operate in accordance with a number of compliance-related issues and procedures imposed by our main regulatory authority in the Saint Vincent & the Grenadines. These procedures involve the collection of adequate documentation from our clients with regards to KYC (Know Your Client), including the collection of a valid ID card and a recent (within 6 months) utility bill or bank account statement that confirms the address the client has registered with.

No, your new account will be validated automatically, as long as you will use the same personal /contact details as for your previous account.


Trading Account

Solid ECN gives multiple account types on the MetaTrader 5 trading platform, and tools to help individuals and corporate customers to exchange Forex and Derivatives online. All Retail, associates, and White-Label clients have the possibility to access various spreads and liquidity via state-of-the-art automatic trading platforms.

  1. Micro: 0.01 lot is 100 units of the base currency
  2. STANDARD: 0.01 lot is 1,000 units of the base currency
  3. Islamic: 0.01 lot is 1,000 units of the base currency
  4. ECN: 0.01 lot is 1,000 units of the base currency

Please see the table of account types and account comparison table here.


Finance & Payments

Please, take into consideration the following deposit recommendations for different account types respectively:

For a "Micro" account the minimum deposit is $1.

For "Standard and ECN" account the minimum deposit is $10;


Please, kindly be informed that these are recommendations. The minimum deposit amount, in general, is $1. Please, consider that the minimum deposit for some electronic payment systems like Visa/Master cards or Bitcoin is $10. We would like to remind you that the deposits for less amounts are processed manually and may take longer.

An Anti-Money laundering policy is a set of procedures designed to prevent criminals from disguising illegally obtained funds as legitimate income. Solid ECN complies with all applicable laws and regulations to prevent using our financial system for money laundering and terrorist financing. The implementation of such rules is mandatory and overseen by the regulator.


How does this affect Solid ECN clients?

By confirming the account registration, the client agrees to comply with all the company’s AML policy requirements, including the following:

The client must use their own credit/debit cards or e-wallets to deposit and withdraw funds. If the card/e-wallet has been closed, the client is obliged to provide an official confirmation of the closure;

If the client is suspected of manipulating bank cards and/or accounts of the third parties, the Company have the right to suppress the client’s actions immediately;

Any illegal behavior, such as corruption, money laundering, collusion, financing of terrorism, as well as any other unlawful acts and actions will be suppressed by the Solid ECN;

The company will investigate any cases of concealed identity, source, and/or destination of illegally obtained funds.

For further information, please do not hesitate to get in touch with our customer support.

Please kindly consider that the Financial Department of the company usually processes the clients’ withdrawal requests on a first-come, first-served basis. As soon as our Financial Department approves your withdrawal request, the funds are sent from our side, but then it is up to the payment system to process it further. Electronic payment systems withdrawals (like WebMoney, Perfect Money, etc.) should be credited immediately, but sometimes may take up to 30 minutes.

In case you withdraw to your card, please, be reminded that on average it takes 3-4 business days for the funds to be credited.

As for bank transfer withdrawals are usually processed within 7-10 business days.

Withdrawals to the bitcoin wallet can take from a few minutes to a couple of days since all bitcoin transactions worldwide are processed altogether. The more people request transfers at the same moment, the more the transfer takes time.

All the payments are being processed according to the Financial Department's business hours. The Solid ECN Financial Department's business hours are: from 9 AM (GMT+3) on Monday to 22:00 (GMT +3) on Friday.

Please, kindly be reminded that you can monitor the status of your financial requests in the client portal.

We would like to remind you that Visa/Mastercard is a payment system that allows only a refund of the deposited funds. This means that you can withdraw via card only the sum not exceeding the sum of your deposit (up to 100% of the initial deposit can be withdrawn back to the card). The amount over the initial deposit (profit) can be withdrawn to other payment systems.

Also, this means that withdrawal should be processed proportionally to the deposited sums.


Example

You deposited via credit/debit card $10, then $20, then $30.

You will need to withdraw back to this card $10 + withdrawal fee, $20 + withdrawal fee, then $30 + withdrawal fee.

Please, kindly pay attention to the fact that if you deposited via credit/debit card and via another payment system, you need to withdraw back to the card first.

Please, take into consideration that according to the Customer Agreement: a client can withdraw funds from his/her account only to those payment systems which have been used for the deposit. In case you made a withdrawal request via the payment system that differs from the payment system you used for deposit; your withdrawal will be rejected.

Also, please, kindly be reminded that you can monitor the status of your financial requests in the Transaction History. There you can see the reason for rejection as well. Kindly note that if you have open orders while making a withdrawal request, your request will be automatically rejected with the comment "Insufficient funds".

We would like to remind you that Visa/Mastercard is a payment system that allows only a refund of the deposited funds.

This means that you can withdraw via card only the sum of your deposit.

One of the key reasons that a card refund takes as long as it does is the number of steps involved in the refund process. When you initiate a refund, as when you return merchandise to a store, the seller requests a refund by beginning a new transaction request on the card network. The card company must receive this information, check it against your purchase history, confirm the merchant's request, clear the refund with its bank, and transfer the credit to your account. The card's billing department must then issue a statement that shows the refund as a credit, which serves as the final step in the process. Each step is an opportunity for delays due to human or computer error, or due to waiting for a billing cycle to elapse. That is why sometimes refunds take more than 1 month!

Please, kindly be informed that usually withdrawals via card are processed within 3-4 days. If you didn't receive your funds within this period, you can contact us in chat or via e-mail and request.

Most likely your withdrawal has been reduced to match the deposit amount. We would like to remind you that Visa/Mastercard is a payment system that allows only a refund of the deposited funds. This means that withdrawal should be processed proportionally to the deposited sums.


Example

You deposited via credit/debit card $10, then $20, then $30.

You will need to withdraw back to this card $10 + withdrawal fee, $20 + withdrawal fee, then $30 + withdrawal fee.

You can withdraw the amount exceeding the total amount of deposit made via card (your profit) to any electronic payment system available in your Personal Area.

If your balance has become less than your total card deposit amount during the trading, don't worry - you still will be able to withdraw your funds. In this case, one of your card deposits will be refunded partially.

Kindly note that if you have open trades while making a withdrawal request, and your Equity is less than the withdrawal amount, your request will be automatically rejected with the comment "Insufficient funds".



Find Us
First Floor, First St Vincent Bank LTD Building James Street Kingstown St Vincent and the Grenadines
Call Us
+1 415 367 3742


Solid ECN Securities is an international brand formed and authorized in Saint Vincent and the Grenadines with the registration number 1390 LLC 2021 committed to offering the best possible trading experience. Disclosure: Please note that foreign exchange and other leveraged trading involve a significant risk of loss. It is not fit for all investors and you should make sure you realize the risks involved, seeking independent advice if necessary.
Solid ECN Securities and it affiliates don't accept applications from Indonesia, Egypt, Australia, Bonaire, Curaçao, East Timor, Liberia, Saipan, Russia, Sint Eustatius, Tahiti, Turkey, Guinea-Bissau, South Sudan and other restricted countries.
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