Private Soft Solutions has been flagged by Financial Services and Markets Authority for "Fraud and Other Types of Misconduct". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
If you are reading this considering Private Soft Solutions - run. I wish I had read more negative reviews through word of mouth in my investment club. I thought the positive ones were real. Maybe some are. My experience over since I retired last year has been so bad I feel obligated to warn others. Do not make my mistake.
Pros: Intuitive for beginners|Helpful community forum
Cons: Withdrawal takes 1-2 business days
I was about to invest with Private Soft Solutions but decided to check their regulatory status first. They claim to be regulated but I could not find them on any official register. Financial Services and Markets Authority has actually issued a warning about this firm. Thank goodness I checked before sending any money.
Pros: Website looks legitimate on the surface
Cons: Flagged by Financial Services and Markets Authority|Cannot verify credentials
KYC with Private Soft Solutions is a nightmare. I submitted my ID and proof of address. They rejected it and asked for a utility bill. I sent it. They asked for a bank statement. Then they asked for a selfie with the ID. Then they said the selfie did not match. I gave up.
Pros: Customizable dashboard|Two-factor authentication|Real-time alerts|API access
Cons: Website design could be more modern|Some tools only available on higher tiers
For anyone considering Private Soft Solutions, please be aware that this company has been flagged by Financial Services and Markets Authority. This does not necessarily mean they are a scam, but it does mean they may not be authorized to operate in certain jurisdictions. I strongly recommend checking the official regulator website before making any investment decisions.
Pros: Information is publicly available for verification
Cons: Flagged by international regulators|Due diligence required
Tried to withdraw my funds from Private Soft Solutions and was told I needed to pay a "withdrawal tax" of 20%. This is a red flag. No legitimate broker charges withdrawal taxes. When I refused, they became aggressive and eventually stopped all communication. My entire investment is gone.
Cons: No regulatory oversight|Money disappeared|Fake testimonials
Their two-factor authentication was optional when I joined. I enabled it. Later I lost my phone and could not log in. Private Soft Solutions recovery process took 3 weeks and required notarized documents. By then I had missed important trades. Their security is your inconvenience.
Pros: Competitive fees|Dedicated account manager
Cons: No dark mode on mobile
The spread at Private Soft Solutions is not what they advertise. During volatile markets it widens so much that you lose before the trade even starts. I found them through a podcast recommendation and initially thought the platform was good - until I started trading seriously.
Pros: Helpful community forum|Detailed reporting|Comprehensive tools|Customizable dashboard
Cons: Alert system is basic|No dark mode on mobile
I lost a significant amount because Private Soft Solutions did not execute my stop loss during a flash crash. They said the market was illiquid. Other brokers managed to execute. I have no proof they did not trade against me. Avoid.
Pros: Market news feed|Automated trading options
Cons: Limited cryptocurrency options
Private Soft Solutions changed their fee structure with one month notice. What was a flat fee became a percentage. For my account size it meant a huge increase. When I objected they said I could leave. So I am leaving and writing this review.
Pros: Easy to use platform|Dividend tracking
Cons: Account statements could be more detailed