Sollari is a Crypto and Forex broker providing cutting-edge technology to traders. Perhaps you are wondering what kind of technology it is. Yes, we do too. However, let’s face it. We have concerns that this is a scam. Therefore, we will carefully check what the company offers such an exclusive and whether there are any complaints in reviews from traders about it.
- Sollari General Information
- Registration and Client Portal Review
- Sollari Trading Conditions
- Account Types Review
- Trading Platform
- Sollari — Deposit and Withdrawal of Funds
- Additional Options
- Is Sollari a Scam?
- Legal Information and License
- Sollari.io Domain Info
- Contacts Review
- Pros and Cons
- Frequently Asked Questions (FAQ)
Sollari General Information
|Address||Richmond Hill Road, Kingstown St. Vincent and the Grenadines|
Registration and Client Portal Review
The official Sollari website even lives up to its name. Bright inserts on a white background look good. Photos of happy people who gathered together at work complete the overall picture. Of course, all this should hint to clients that the trading process is easier than it seems. As always, the broker talks a lot about its merits. Sollari claims that the goals of traders are important. Whether this is the case, we will check during the review.
Well, at least at first glance, it’s really easy to register here. You will only need to fill out one form with personal data and contacts. We cannot attribute this to the advantages of the broker. If you want to open an account with a licensed company, you will definitely feel the difference. You can’t get off with one form there. On the contrary, Sollari doesn’t even check your email and phone number.
On the other hand, Solaris requires that you have a promo code. Seriously, you won’t register without it. Where can you get it? We don’t know. This question can be asked to the support. However, we know for sure that transparent brokers do not restrict registration and access to the Client Portal for their clients.
Sollari Trading Conditions
So, Sollari suggests trading the intelligent way and enjoying the process. Let’s see how much the broker’s trading conditions allow for this.
Account Types Review
The broker has only 5 types of accounts. We can immediately say that Sollari is not a beginner-friendly platform. You will have to fund the Basic account for 5 thousand dollars. And there is no demo here at all. By the way, the broker does not even consider a Basic account as a good option for trading. Sollari recommends opening a Standard account right away. Allegedly, it was created for beginners in retail trading. The broker claims that it will be comfortable to trade here with a deposit of 10 thousand dollars. A bold statement. It will be especially «appreciated» by beginners who do not understand anything about trading at all yet.
The next Gold account is intended for traders who want to trade large volumes. Tight spreads and no commissions are provided for them. That’s just you need to top up this account immediately for 25 thousand dollars.
The Pro account is designed for full-time traders who do this professionally. The leverage on it is 1:500. And the minimum deposit is 100 thousand dollars.
Finally, there is a VIP account with a minimum deposit of 250 thousand dollars. Here traders expect the best trading conditions and no restrictions on the size of lots.
At the same time, you need to understand that Sollari is just a CFD broker. It will not give you access to the interbank and access to the real Forex market. All these stories about the size of lots will remain stories.
Since we do not have a promo code for registration, we could not see what kind of platform Sollari offers to traders. The broker claims that it can be downloaded to a PC or run on a web terminal. However, it does not provide download links either. Perhaps they are in the Client Portal. Besides, apparently there is no mobile application.
Sollari — Deposit and Withdrawal of Funds
The site lists several deposit methods. Among them are bank cards, bank transfers, and bitcoin. You can withdraw money using the same methods. Sollari does not mention commissions. About the terms of processing requests for withdrawal, too.
Judging by the fact that the site has a section with a KYC policy, verification is still required. Sollari claims to verify the identity of customers, as well as their residential address. Therefore, you will need to provide copies of the relevant documents. For example, passports and utility bills. It is not known whether this can be done in the Client Portal. As a last resort, you can send copies of the documents to the broker’s email.
No additional options are described in the broker’s trading conditions. Except that the promo code hints at the presence of a referral program. It may also be available from existing Sollari clients. However, there are no descriptions of affiliate programs on the site either.
Is Sollari a Scam?
We have said more than once that we do not like brokers with closed registrations. As a rule, they have something to hide. Let’s see what Sollari is trying to hide from us.
Legal Information and License
According to legal data, Sollari is registered in an offshore zone. Its management company is Donecs LLC. Unfortunately, the broker decided to choose the offshore zone of Saint Vincent and the Grenadines. There is no normal institution of regulation of foreign investment and Forex companies. They are simply given certificates of incorporation. The supervisory authority does not monitor the further activities of such brokers. So, if Solaris wants to get a license, it’s better to register in another jurisdiction. However, few companies do that. Especially when it comes to scammers. On the contrary, they prefer such opaque offshore zones as Saint Vincent and the Grenadines in order to be able to deceive traders in the future.
Sollari.io Domain Info
Sollari is a fairly young company. The legal entity Donecs LLC was founded at the end of 2022. The date of domain registration also indicates the fact that the broker is only a couple of months old. The official Sollari website was launched on December 22, 2022.
Sollari specifies a phone number and email address for communication. And everything would be fine, but this phone number previously (and maybe still) belonged to another Mentor FX scam broker. There are just a huge number of spam reviews from this number on the web. According to users, scammers constantly call and offer to invest money. Sollari doesn’t have an office, either. The specified registration address is just nominal. The real branch of the broker is online. So you cannot even think about meeting with managers.
Pros and Cons
- The minimum deposit is too high.
- Offshore legal registration.
- No license.
- The working time is too short.
- Poor trading conditions.
Frequently Asked Questions (FAQ)
Sollari is a regular CFD broker. Even though the company promises you Forex and Crypto trading, you will only trade contracts for the difference in prices for these assets.
The broker is convinced that the bigger your deposit, the better. However, for whom it is better is a big question. In general, you will have to fund your account with at least 5 thousand dollars.
No, it’s not. Offshore unregulated brokers are never a safe place for your money.