On-line since: About the company: Silver Trade offers Forex and CFD trading on the MetaTrader4 platform. Security of funds Solver Trade Ltd is an officially registered company regulated by the International Business Companies Act. The broker is registered in the offshore jurisdiction of Belize. Many dealer centers prefer this country as it has a more loyal registration procedure and a simplified tax system. Thus, it is easy to open a company in Belize, you only need to have your own virtual office. The company gives no information on its operating history, so the trading history of Solver Trade is a mystery. We advise traders think twice before opening an account with an offshore broker, especially if you are planning to invest a huge amount on money. Trading conditions A trader can choose from three live trading accounts: Standard, Mini, and VIP. All three accounts provide an opportunity to trade currency pairs and CFDs. Besides, clients can open a demo account. Minimum deposit Solver Trade’s clients can start trading by depositing $1. This amount is too small to earn enough on Forex. However, it is a good opportunity for beginners. You have to deposit at least $1,000 to open a VIP account. Spreads and commissions Spreads start from 0 pip on a VIP account. On other accounts, spreads are fixed and start from 2 pips in case of instant trading. In general, 2 pips is not the highest offer, but there are brokers with lower spreads. We recommend you to get acquainted with our rating. Besides, Russian clients' income from Forex trading is subject to 13% personal income tax. Leverage The leverage is started from 1:10 and can reach 1:500. The broker says a trader may enter transactions of $1,000 by depositing only $2. We warn traders that high leverage not only brings profit but also poses great risks. Many financial regulators prohibit brokers from using leverage higher than 1:50. You need to be able to objectively assess the situation on the market. Trading platforms Solver Trade offers its clients the MetaTrader 4 platform. It is a great choice, as MT4 is the world’s most popular platform thanks to its user-friendly interface, charts, advisors, and analytical tools. Moreover, you can use ready-made trading algorithms or create your own. MetaQuotes, the developer of MT4, encourages traders to switch to the next generation MT5 platform, and in this regard, the company announced that it ceased to release updates for MT4. We advise you to pay attention to those brokers who offer trading on both platforms. Solver Trade has only a demo version of MetaTrader 5. Special services The broker has no swap-free, MAM or PAMM accounts. A forex market calendar is the only useful service provided by Solver Trade. In addition, every client who opens an account with the company gets a deposit bonus from 10% to 100%. Support service The contact information is not easy to find on the broker’s website, while other dealing centers try to make this section visible to traders. When we managed to find this information, we were disappointed about possible options. You can contact the broker only via email. This is slightly alarming for an offshore broker. The website is available in two languages: Russian and English. Payment options Clients can deposit or withdraw funds via wire transfers (a minimum deposit is $100) and WebMoney (a minimum deposit is 10WMZ). Thus, you will not be able to start trading with a deposit of $1. Feedback There are only few reviews of Solver Trade on the Internet. The main complaints are related to the withdrawal of money. Once again, we advise traders to think twice before trading with the broker. Advantages:
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Best things about Solver Trade are, instant execution with no slippage and minimal requotes, then - most attractive forex bonus, a lot of promos and contests, and I can even withdraw my money straight away after trading! very informative and client staff.
I have been live trading with them for 3 months now and I chose this broker to start with. I opened and deposited with $1000 and after a week of trading with them I really regret that I decided to use Solver Trade. For three days now, their trading system is not working. Their customer service however answered my calls and chat in an hour and provided information about their downtime. I am willing to explore benefits but i got disappointed now so I am searching for a new broker. During 2 months of trading with this broker I had from 10 trades 7 lost. The worst part is that the broker is manipulating the prices. I will close my account and search for a different broker.
I've satisfied with Solver Trade in a VIP account, As my deals execute faster on their MT4 platform and it makes my deal 85% profitable. Besides I've appreciated their payment service. I think Solver Trade are reliable in the market.
First I opened a standard account with a deposit of $200, I can still see the positive value of this broker. But after 3 months, I don't know why this broker is getting slow. I don't understand why I have always failed when I want to withdraw. Start from internet connection was error, errors on verification, until no more responses from the Solver trade, even though I've repeatedly submitted my complaint via email but until now remained no response from them. A few weeks after I filed a complaint, they finally responded to my email. However they did not provide any solutions. They even blamed me for their backend problems (some feed error) and they cancelled my latest transactions.
I am not sure whether I should continue trading with Solver Trade or not. I have been with them for a few months now and their trading platform has always been terrible. I reported the issue to them already and I was waiting for an improvement but until now, they still haven't done anything about it.
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