Solid ECN Forex broker review — Everything you need to know

Solid ECN is the company’s trade name and website name of Solid ECN Securities LLC, which is a forex and CFDs broker offering access to diverse markets. It offers several trading account types with very low minimum deposit requirements, making it an interesting broker to review.

In this unbiased and compact review of Solid ECN forex broker, we will analyze its safety, accounts, trading costs like spreads, leverage, support, and much more.

Solid ECN Overview of the website

The website of Solid ECN is modern, minimalistic in design, and super snappy. It feels very responsive and enables super-fast navigation around. Almost all important details about the broker’s services are provided on the website in a well-ordered manner, where traders can use the top menu to access needed information about accounts, platforms, and more.

The broker offers a live chat, which is built into the website, providing nearly instant assistance, which is very flexible. The website is mobile-friendly and allows traders to access it from their mobile devices without issues.

Overall, the website of the Solid ECN broker is satisfactory and needs very few tweaks.

Solid ECN Safety and Licenses

Safety is the single most important part of forex trading, and Solid ECN is a regulated broker. However, the broker is overseen in an offshore jurisdiction, which is known for less stringent regulatory requirements. Solid ECN Securities LLC is authorized and regulated by the Comoros Union. Despite being licensed offshore, the broker still provides basic security, as regulated brokers are far more reliable than unregulated brokers, which are typically scams. Despite this, Solid ECN is still not very reliable as it is an offshore forex broker where there is still room for fraud.

Solid ECN Accounts Reviewed

Solid ECN broker offers traders three main trading accounts: Micro, Standard, and ECN. All trading accounts are very low-entry barrier trading accounts, as minimum deposit requirements are super low. This makes it accessible for any trader to select their preferred account without worrying about minimum deposit amounts. Let’s briefly analyze and review each of these account types to define whether Solid ECN is truly attractive for our readers.

Solid ECN Standard Account

The standard account from Solid ECN is a solid offering as it offers commission-free trading for very low minimum deposit requirements. Here are its full specs:

• Minimum deposit – 1 USD
• Maximum leverage – 1:1000
• Spreads – 2 pips
• Commissions – 0 USD
• Minimum lot size – 0.01 lots

Solid ECN Micro Account

This account only provides access to forex pairs and metals and is operated on a micro contract size, meaning 1 lot here is 10,000 units of a currency. Here are its specs:

• Minimum deposit – 1 USD
• Maximum leverage – 1:1000
• Spreads – 1 pip
• Commissions – 0 USD
• Minimum lot size – 0.01 lots

Solid ECN ECN Account

The ECN account offers the lowest spreads and is suited for experienced traders who prefer to scalp on shorter timeframes. Here are all the conditions:

• Minimum deposit – 1 USD
• Maximum leverage – 1:1000
• Spreads – From 0.0 pips
• Commissions – 4 USD per side per lot
• Minimum lot size – 0.01 lots

As we can see, the broker is very competitive on its standard and ECN accounts. The micro account enables traders to use micro lot sizes but has 2 pips spreads, which is high.

Deposit and withdrawal options at Solid ECN

When it comes to payments, the broker only accepts crypto tokens. There are tens of different coins supported, and the minimum deposit and withdrawal sizes vary. Deposits are from 1 USD on some cryptos, while withdrawals are from 2 USD. Withdrawals take several minutes for processing during working hours. The lack of bank cards and wire transfers is a red flag here. These traditional payment methods are needed as cryptos are often anonymous, making it difficult for regulators to control and help traders in case something goes wrong.

Solid ECN Assets — What can you trade?

The broker offers a wide range of assets, including forex pairs, commodities, indices, and crypto CFDs. Cryptos are only available as CFDs, while most of the other instruments are also CFDs. The micro account only allows forex and metals trading, while other accounts allow access to the full spectrum of assets offered by the broker. The leverage is more than enough to control large trading positions with even a small capital. The broker does not provide access to stocks, which is a drawback.

Trading platforms of Solid ECN

The main trading platform at Solid ECN is the MetaTrader 5 advanced trading software, which is a standalone software. It enables both custom indicators and Expert Advisors, making it very popular among forex traders. The broker does not prohibit EAs, which is flexible. Mobile trading is also available via the MT5 mobile app, accessible on both iOS and Android stores.

Education at Solid ECN

The broker lacks educational resources as it does not offer webinars, video guides, or trading courses. Nor are there any articles. What it offers is a limited number of tools. There are economic calendars and market news. This is a serious drawback for beginners, especially when the broker offers micro accounts for beginners and traders with a low budget.

Solid ECN Customer Support

Customer support is one of the most important parts of any broker’s offerings. Solid ECN offers live chat, which is built into the website. This is flexible. The broker also offers email and phone support options via WhatsApp. This ensures traders can use any of their preferred support methods to get assistance and resolve important issues. Solid ECN is not multilingual as it only offers its services in English.

Solid ECN bonuses and promotions

Current promotions at the Solid ECN website only include negative balance protection and 0 USD deposit fees. There are no deposit bonuses like deposit bonus, welcome bonus, or no-deposit bonus promotions, which is a drawback.

Is Solid ECN your broker? Final verdict

Solid ECN is a low-deposit Forex and CFDs broker that offers access to the advanced MetaTrader 5 platform, flexible leverage, and multiple account types. However, being regulated offshore in Comoros and supporting only crypto payments makes it less reliable for traders.

The broker suits experienced traders more who value MT5 and low trading costs, but it is not ideal for beginners due to the limited amount of educational resources.

FAQs on Solid ECN broker

Is Solid ECN a scam broker?

There are no indications or negative comments that would make us believe the broker is a scam, but it is overseen offshore, which makes it still less reliable.

Where is Solid ECN based?

Solid ECN is an offshore broker as it is registered and regulated in the Comoros Union. There are no details on whether the broker has offices in other states as well.

Can you withdraw from Solid ECN?

Yes, withdrawals are possible via crypto coins, and they are processed within minutes during working hours.