Introduction
Sol Markets is marketed as a global Forex broker reputedly based in the UK and Australia. It seems to hold licenses from major regulatory bodies like the FCA and ASIC. However, a closer look reveals these claims to be untrue. This brokerage does not appear in any databases of the FCA, ASIC, or any other major financial regulator.
False Regulatory Claims
Sol Markets claims to be legally incorporated in the UK and Australia arguably enables it to claim to be registered with the FCA and ASIC. However, after full searches with those regulators along with CySEC, BaFin, CNMV, and NFA, I could find no evidence that this broker is licensed. This broker is unlicensed and operating without any legal authority, thus putting customer investments at a very high risk. Unregulated means that there is no security of customers’ funds, nor are there guarantees of segregated accounts or compensation schemes.
The Reviews Are Fake and the Reputation is Unreal
The only review information customers will find about Sol Markets is on Trustpilot, and it seems like it is already being manipulated. There are lots of positively framed reviews that also originated from a review-selling company. This fake feedback is misleading potential customers into believing an unreliable and possibly fraudulent company.
Solicitation and Cold Calling
There have been reports from some investors who were contacted by cold calls from a finance advisor whose sales mannerisms were merely to push investment opportunities with guaranteed profits, which is boiler-room scam typical sales operating tactic once you pass your deposit there is usually no further communication and you will usually not be able to withdraw your investment.
Questions And Answers
Q1: Is Sol Markets a regulated broker?
No, Sol Markets is not regulated by any established financial regulatory body.
Q2: Can I trust the reviews I see for Sol Markets?
Most of the online reviews seem to be fake and from services selling reviews.
Q3: What do I do if I have already invested with Sol Markets?
Stop making any further payments, and contact fraud recovery specialists for help.
Take Action Today
Don’t wait if you’ve been deceived by Sol Markets. To discuss your options and begin your recovery process, contact us for a free consultation. Your financial security is important, and being proactive can help protect it.
At Lycan Retrieve, we work to restore your losses and deliver results. Contact us now to regain management of your finances.
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