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

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.