NewSolid is a shady broker operating under no valid regulation. NewSolid claims to be owned and operated by NewSolid Markets Co., Ltd, a company authorized and regulated by the British Virgin Islands Financial Services Commission (BVI FSC) under the license number 2014785. Without searching the alleged regulation in BVI FSC, we can tell from the given number that this broker is making a false statement of its regulation. Because the correct formate of a BVI FSC license No. starts with letters (e.g. SIBA/L/14/1073).
When we verified the qualification of NewSolid via BVI FSC, not surprisingly, we didn't find any matching results of this broker. So NewSolid is not overseen by any financial regulator. Traders should keep away from unregulated brokers as they are not subject to necessary laws and principles of operation. That means investors' funds in this broker is unsafe and cannot be protected by any laws. Therefore, it is a scam.
Unfortunately, as for your situation, the chance of getting your funds back is slim. What you should do now is never invest your money in this platform again and report it to your local authorities as soon as possible.
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