Question 1

Are we a regulated broker?

Accepted Answer

Yes

Question 2

How can you contact customer service?

Accepted Answer

Please contact us at info@solidaryprime.com and we will get back to you as soon as possible.

Question 3

Will my money be safe?

Accepted Answer

Very safe, as much or more than in any of the major international financial institutions. The liquidity is obtained from the most important providers in the market and thanks to that makes us one of the safest and most reliable brokers to invest with total peace of mind.

Question 4

How do I make a withdrawal?

Accepted Answer

It is a very simple and important process for us because we know it is a very sensitive topic for any Trader. Follow these simple steps: Log in to your client area, in the menu on the left “Withdrawals” and select the option requesting the withdrawal. Fill in the form with the requested information.

Question 5

Is there a fee to deposit and withdraw funds?

Accepted Answer

Yes, the commissions charged by the payment gateways or the bank. We do not charge you any commission or expense for the movement to or from your account. We work daily to find the best conditions for our customers.

Question 6

Where can I download the trading platform from your website?

Accepted Answer

In the email we have sent you with the access data to your trading account, there is a link to download the platform. You can also download it from your client area, in the download section.

Question 7

How long does it take for my deposit to be available in my trading account?

Accepted Answer

From the time it arrives at our finance department, from 1 to 6 hours.

Question 8

If my account is in one currency, can I make deposits in a different currency?

Accepted Answer

Yes, we will exchange currency at the market value of the day.

Question 9

Can I withdraw money if I have open positions?

Accepted Answer

Yes, as long as the available margin allows you to keep the trades open.

Question 10

Can I change the leverage level of my account?

Accepted Answer

Yes, you can request it from your client area, “Trading Accounts” and in the drop-down menu “Change leverage”.

Question 11

Who can help me with questions about my account, deposits and withdrawals?

Accepted Answer

Our customer service department will be happy to help you. You can ask your questions in our Chat when available or send us an email.

Question 12

The calculations for the indicators on the screen, what price do you use?

Accepted Answer

Our trading platform always displays the “Bid” price (i.e. the price at which we sell). Therefore the indicators are also based on that price unless specifically designed to take into account the spread.

Question 13

How can I see the ASK price on the screen?

Accepted Answer

Place the mouse over any chart that you have open on the trading platform screen. Click with the right mouse button and the “properties” dialog will appear. In it, you can enter “common” and there you will see an option that is “show demand line”. Select this option and you will see on the chart a line displaying the “ask” or “demand” price.

Question 14

How can I easily know the spread in real time?

Accepted Answer

We have on our website a Spread comparator of the most important pairs in real time. You can also see it in your trading platform, in the “market watch” window or with your keyboard press Ctrl + M. A rectangular window will appear with all the pairs available. Right-click on it and select “Spread” in the drop-down menu, then in the market watch window you can see the real-time spread of all the pairs you have available.

Question 15

How long will it take for my account to be operational?

Accepted Answer

Your account will be operational in less than 24 hours after the documents have been sent. Of course you will need to fund your account to start trading.

Question 16

In what currency can I open my account?

Accepted Answer

You can open it in US Dollars.

Question 17

Can I open an account in the name of a corporation?

Accepted Answer

Yes, we will need a copy of the original deeds, proof of identity and proof of address of the representative or administrator. If there is more than one or several partners with more than 25% of the shares, proof of identity and proof of address of this or these partners is also required.

Question 18

Can I open an account in someone else's name?

Accepted Answer

No. The money laundering prevention policy makes this possibility impossible.

Question 19

Can I open more than one trading account in my name?

Accepted Answer

Naturally, you must only have money in your old account or have traded on it. You only need to apply for it from your client area.

Question 20

Can I change my account details?

Accepted Answer

You have to send us all the relevant information that you want to be modified. You can contact us from your registration e-mail at accounts@solidaryprime.com

Question 21

Can I control my account from a Tablet?

Accepted Answer

Yes, through the Webtrader.

Question 22

How long does the demo account last?

Accepted Answer

Demo accounts will only expire after 60 days if you have not used it. To request a new demo account you need to request it from your client area, trading accounts, demo account, request new demo account. The details of your new demo account will be sent to your registration email.

Question 23

Why is a real account different from a demo account?

Accepted Answer

The prices quoted in the demo and real accounts are the same. On that side there is no big difference. The market gives everything, slow, abrupt, trend, range etc. and we don’t know when which one comes. The big difference between a demo and real account is the execution of orders. In a demo account the broker quotes you the prices and when you place an order the system accepts it immediately without confirming anything (there is no money involved) at the price you wanted. In a real account the system accepts your order, but has to execute it in the liquidity provider looking for the best option within the system. In this way the execution can incorporate a degree of slippage depending on the liquidity of the market at any given moment.

Question 24

Is it possible to access my live account from different computers?

Accepted Answer

Yes, it is possible to log in to a live account from any computer that has a trading platform, or from any computer accessed from the WebTrader. You can even be logged in from different computers at the same time. Please be careful with usernames and passwords. If you save your trading platform password on any particular computer that has access to it you will be able to trade on your account.

Question 25

I have several accounts, is it possible to transfer funds between them, do you charge any commission for this service?

Accepted Answer

Yes, it is possible and we do NOT charge any commission for it. You only have to request it from your client area, side menu, internal transfer.

Question 26

Can I trade from my phone or Smartphone?

Accepted Answer

Yes, through the Webtrader.

Question 27

Can I enter a SL (stop loss) and a TP (take profit) together with the order?

Accepted Answer

Yes, in fact it is the most advisable

Question 28

What happens to my pending orders if I close my computer?

Accepted Answer

Pending orders are stored on the broker’s server and will be executed if the price reaches the execution level, even if your platform is closed.

Question 29

Can I do all types of trading?

Accepted Answer

Yes, you can use all types of strategies as long as they do not condition in an abnormal way the proper functioning of our servers or involve arbitrage practices. Scalping and even impulsive scalping with very short trade durations are allowed.

Question 30

Why is the spread so important in some strategies?

Accepted Answer

There are many EAs that are very sensitive to spreads (especially scalping), where the slightest difference in the spread makes you enter or not in a trade, which can turn a winning trade into a losing one.

Question 31

What is the minimum lot size you support?

Accepted Answer

Minimum lot size is 0.01

Question 32

Do you support micro lot trading?

Accepted Answer

In our nomenclature the 0.01 lot position is a micro lot.

Question 33

Do you trade CFDs?

Accepted Answer

Yes, the most important in the market.

Question 34

Do you trade Gold and Silver?

Accepted Answer

Yes, being XAUUSD for Gold and XAGUSD for Silver.

Question 35

Can I buy and sell the same currency at the same time (hedging)?

Accepted Answer

Yes

Question 36

What happens to my open operations at the end of the day?

Accepted Answer

Nothing happens, they are still open. The only thing you have to take into account is that at the change of day the swap is charged or paid.

Question 37

During what hours can I operate?

Accepted Answer

The Forex Market is open for trading 24/5. From Monday 00:05 to Friday 23:55 all our accounts are disabled for trading from 23:55 to 00:05 server time. This is a measure that has been taken to protect the operations that remain open from one day to another and that the closing of the interbank market does not affect them by the lack of liquidity. You will see the price move but no orders will be executed, including pending orders, SL and TP.

Question 38

If the Forex market has no physical location, then who are we dealing with?

Accepted Answer

Our way of doing business in Forex trading is by buying and selling spot currencies. The buying and selling always ends up being done at financial institutions such as banks or prime brokers. The broker’s job is to route our clients’ orders to be conveniently executed at the liquidity providers (directly to the market).

Question 39

What is an ECN broker?

Accepted Answer

This is a type of broker that is electronically connected to a network composed of both liquidity providers and other traders who are operating in the same market. When executing a client’s order, the ECN broker redirects that order to any of the elements that are available at that moment to effect the counterparty.

Question 40

What are NDD brokers?

Accepted Answer

The acronym NDD stands for “No Dealing Desk”. It means that the broker in question, as in the case of Solidary Prime, does not have an “Execution Desk” that controls client orders and can therefore manipulate them to some extent. Execution desks are an essential feature of “Market Makers” brokers.

Question 41

What are STP brokers?

Accepted Answer

Forex STP (Straight Through Processing) brokers, such as ours, send orders directly from clients to liquidity providers, which operate in the interbank market. What makes the STP platform is the fact that traders have access to the real market and can execute trades faster.

Question 42

How can I gain experience in the Forex Market without losing money?

Accepted Answer

We recommend all your clients to start trading through a Demo Account before acquiring a Live Account. It does not matter if you are an experienced Forex trader or not, as it is very important to familiarize yourself with the software and platform you will be using, as well as the procedures over the Internet, before working out any trading strategy. The easiest way to learn is to use a Demo account before opening a Live account. The spreads on our Demo Platform are exactly the same as those available to our clients in live trading. The Demo will allow you to see from the very beginning the consistency of the spreads offered and at the same time, test the possibility to trade in real time.

Question 43

What is the margin?

Accepted Answer

Margin is money you need to have in your brokerage account to secure your open position.

Question 44

Can I lose more than I invest in Forex?

Accepted Answer

No. The Broker will not allow you to lose more than the available funds in your trading account. It will simply close your losing position, when the available margin is less than the set minimum.

Question 45

What is the FIFO rule?

Accepted Answer

FIFO is an abbreviation of the First In First Out rule that indicates that positions are closed in the order they were opened. The FIFO rule, although being used by many brokers before and being the usual way of working of ECN brokers, became popular when the CFTC made it mandatory for all US brokers. The First In First Out rule has important implications on the way many traders previously conducted their trading. For example, if you had a buy and a sell trade on the same currency pair, you could previously manage them as separate positions. With the FIFO rule, if you open more than one trade in the same currency pair, the positions from both are aggregated into one trade. For example, if you open a buy and a sell trade with the same number of lots, the trader would be left with a position of 0 (zero) in that currency pair, i.e., by selling the same number of lots for which it was previously bought, the net position is zero because the buy trade would be cancelled (closed). Similarly, if one buys for 1 lot and sells 2 lots in the same currency pair, the trader’s net position would be to sell 1 lot. As a practical matter, most US retail brokers still allow separate positions in the same pair although the broker’s accounting is the one that carries the aggregate positions. This does not apply to Solidary Prime

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