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Solidary Markets FX

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Operating status: SCAM

Website: https://www.solidarymarkets.com

Broker violations and abnormal records
  • Dec 04, 2016 CNMV Added Solidary Markets FX into the Unregistered Firm Alert

    The Spanish regulator CNMV added Solidary Markets FX into the unregistered firm alert. According to the release, CNMV warns that Solidary Markets FX ("SMFX") is not authorised to carry out investment services and activities in Spain as a result of lacking necessary authorization. You may visit: https://solidarymarkets.com/assets/documents/cnmv_en.pdf

  • Dec 13, 2021 BrokersView has reviewed that Solidary Markets FX is an Unregulated Forex Broker

    According to the information on the website, Solidary Markets FX claims it is a Financial Services Provider but outside the scope of the Financial Act of 2008 so it is not required to stay in the FSP Registry for companies that provide services within New Zealand. That means the broker's activities are beyond the jurisdiction of the New Zealand Financial Services Law of 2008. In other words, Solidary Markets FX runs without any regulatory license and is currently not regulated or not overseen by any financial regulator. Besides, the Spanish regulator CNMV added Solidary Markets FX into the unregistered firm alert. According to the release, CNMV warned that Solidary Markets FX ("SMFX") is not authorised to carry out investment services and activities in Spain as a result of lacking necessary authorization. These proofs make it clear: Solidary Markets FX is actually not regulated or registered by any financial regulator. That means investors' funds in the broker is unsafe and cannot be protected by any laws. Therefore, it is a scam broker.

    According to the information on the website, Solidary Markets FX claims it is a Financial Services Provider but outside the scope of the Financial Act of 2008 so it is not required to stay in the FSP Registry for companies that provide services within New Zealand. That means the broker's activities are beyond the jurisdiction of the New Zealand Financial Services Law of 2008. In other words, Solidary Markets FX runs without any regulatory license and is currently not regulated or not overseen by any financial regulator. Besides, the Spanish regulator CNMV added Solidary Markets FX into the unregistered firm alert. According to the release, CNMV warned that Solidary Markets FX ("SMFX") is not authorised to carry out investment services and activities in Spain as a result of lacking necessary authorization. These proofs make it clear: Solidary Markets FX is actually not regulated or registered by any financial regulator. That means investors' funds in the broker is unsafe and cannot be protected by any laws. Therefore, it is a scam broker.

Related Complaints

Q&A

Is SMFX legit?

Crypto Georgiou
El Salvador
Sep 08, 2025
ANSWER Dear Investor, SMFX, also known as Solidary Markets FX, has a recorded history of operating without proper regulation. As early as December 14, 2021, BrokersView identified it as an unregulated forex broker. The platform claims to provide financial services but asserts it falls outside the scope of New Zealand’s Financial Services Providers (FSP) Act 2008, thereby avoiding registration requirements. This means it operates entirely outside the regulatory oversight of New Zealand. Further red flags include a warning from Spain’s financial regulator, the Comisión Nacional del Mercado de Valores (CNMV), which added Solidary Markets FX to its list of unauthorized firms, confirming it has no permission to offer investment services in Spain. These facts clearly show that Solidary Markets FX has never been regulated or supervised by any legitimate financial authority, leaving investors’ funds unprotected and exposed to significant risk. In essence, it is a scam broker. Now, the entity has rebranded with a new logo and claims to be registered in Saint Vincent and the Grenadines. However, it provides no verifiable regulatory details. Our investigation into the registry of Financial Services Authority (FSA) of Saint Vincent and the Grenadines reveals that its IBC registration is marked as "cancellation pending," indicating serious compliance issues. Given its persistent pattern of misleading claims and lack of legitimate regulation, SMFX remains an active fraudulent operator. We strongly advise you to avoid any trading or investment activity with this platform.
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What currencies are accepted in Solidary Markets FX?

Ade
Kazakhstan
Mar 14, 2023
ANSWER Solidary Markets FX is an unregulated trading platform even though it states offers that look too good to be true.When we read the information on this broker's website, we noticed the company Solidary Markets LLC, claiming to own and operate Solidary Markets FX, is registered in St. Vincent and the Grenadines with license number 376. We did find this firm's records on the website of St Vincent & The Grenadines Financial Services Authority (SVG FSA). However, it should be noted that SVG FSA does neither issue forex licenses nor regulate forex activities.In fact, Solidary Markets FX operates without oversight from financial regulatory authorities. That means investors' funds deposited in this broker are unsafe and trading with it comes with huge risks. Regarding your question, we would suggest investors stay away from unlicensed brokers like Solidary Markets FX and trade with fully regulated brokers.
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3 comments

Jake
Solidary Markets FX has been suspected as a scam broker. It definitely takes risks trading with them.
Mar 02, 2023
Reply
Iqbal
When a broker is unregulated or regulated by an entity outside of your jurisdiction, you have limited to no legal recourse in the event that your funds are compromised. In an event of theft, complaints can only be made if that broker is licensed by the regulator in your jurisdiction. Solidary Markets seems to an uregulated offshore company. So, be cautious!
Feb 25, 2023
Reply
wafiq alsalman
They are scammers, only they have a different name - Solidary Markets FX! I tried to trade stocks here - a couple of days and no money! On the stock exchange the shares are in positive territory, but I am in the red! Divorce, stir up as they want!
Dec 30, 2022
Reply
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