Due to the fact that Solis Markets is just another unregulated forex broker, clients are not protected and there is little chance that they will escape with your hard-earned money because there is no regulatory body to hold them accountable.
Scam brokers are common in today’s forex market, thus traders need to be cautious when dealing with any online financial trading firm. You need to be very wary of dubious brokerage companies such as Solis Markets, which operate anonymously, lack trading credentials, and offer subpar services predicated on dishonesty.
If you have encountered the broker Solis Markets, you will quickly learn how dishonest their business is. So, to learn more about this investment fraud, keep reading our analysis of Solis Markets.
Solis Markets is an anonymous and unregulated broker running online trading scams and cheating traders from the UK, Canada, Australia, the US, and Sweden.
It is challenging to ascertain a fake broker’s jurisdiction when, like Solis Markets, it fails to disclose its headquarters or any information regarding its registration. This is being done to hide the fact that the business is operating without a license and without proper regulations.
The dialing code indicates that the phone number on Solis Markets’ website is an Australian phone number. That’s the only information about the company that’s accessible. This leads us to believe that this broker may have their headquarters in Australia, one of the strictest legal jurisdictions.
If so, being a genuine broker would need having an authorization from ASIC, the Australian financial regulator.
HOW SOLIS MARKETS WORK
Unregulated forex brokers typically operate as follows. They will attempt all possible means to get consumers to call and convince them to pay the first minimum deposit. They will make offers that seem too good to be true, such as “double your initial deposit” or “easy daily earnings of $100.” Please don’t believe a word they say. It’s a fraud! Following the initial deposit, victims are moved to a more skilled con artist known as a “retention agent,” who will attempt to extract additional funds from you.
More and more people are finding the concept of passive income to be appealing. The Internet creates the illusion that non-experts may now invest in the financial markets and make money more easily than ever before. However, the internet is rife with con artists that use eye-catching adverts and fictitious client endorsements to entice unskilled aspiring traders. considerably if they brashly tell you that you are making excellent profits and should invest considerably more, these phony brokers don’t actually invest the money you give them.
However, it turns out to be impossible when you try to withdraw any of your alleged wins or deposit. Scammers will either claim that your entire investment has been lost due to an abrupt shift in the market or they will use ambiguous terms and conditions that demand a large minimum trading volume. A scammer may also surprise their victim by withholding tens of percentages of their money in hidden fees and taxes.
Because fraudsters employ unregulated and uncontrolled offshore firms to conduct their business, it is challenging to hold them accountable. Scammers also demand a copy of your ID and proof of address in order to support their allegation that all transactions were consensual and consented to by both parties.
HOW TO GET YOUR MONEY BACK
Don’t worry if you’ve already placed money with them and they decline to return it, which is highly likely to happen. There may be a method or two to get your money.
To begin with, you must preserve the emails as evidence that you have been asking them for a refund of your money and they refuse to provide it to you or overly prolong the procedure in order to avoid giving you your money back.
Chargeback should be the first action you take! Also, you ought to take immediate action! Tell your bank or credit card company how you were tricked into making a deposit for an unregulated trading organization that won’t return your money. This is the most straightforward method of receiving your money back, but it also causes them the greatest harm. Since it will ruin their connection with the payment service providers if numerous chargebacks are made. We can help you prepare your chargeback case if you haven’t done this before or if you don’t know where to begin or how to present your case to your bank or credit card company. Simply send us an email at CRYPTOREVIEWZ .COM