The Solomon Group has been flagged by ASIC (Australia) for "Unlicensed (Legacy)". Addresses: 8th Floor Ark Daikancho Building 15-3 Daikancho Higashi-ku Nagoya-shi Aichi-ken 461-0002 Japan; 9th Floor Huntington Center 41 South High Street Columbus Ohio USA This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: www.thesolomongroup.com.
After for a couple of months now with The Solomon Group, I can only describe the experience as death by a thousand cuts. No single issue was catastrophic, but the constant stream of small problems, slow responses, and missing features wore me down until I finally left.
Pros: Transparent fees|Risk management tools
Cons: Nothing significant|Limited cryptocurrency options
The hidden fees at The Solomon Group are the real scandal here. What they advertise and what they actually charge are two different things. By the time I realized how much I was paying in various fees and spreads, I had already lost a meaningful amount.
Pros: Competitive fees|Dividend tracking|No hidden fees
Cons: Currency conversion fee exists
The onboarding at The Solomon Group was smooth which makes the subsequent experience even more frustrating. Once they have your money, the quality of service drops dramatically. Getting anyone to help you with an actual problem is nearly impossible.
Pros: API access|Personal attention|Stable platform
Cons: Slow to add new assets
Do not be fooled by the professional-looking website. Behind the scenes, The Solomon Group is disorganized and incompetent. I found them after seeing their ad online and I can only assume the positive reviews are either outdated or paid for because my experience was terrible.
Pros: Good analytical tools|Quick verification|Segregated accounts
Cons: Account statements could be more detailed|No crypto staking
The Solomon Group offers copy trading. I copied a top trader. The copy trades often executed at worse prices than the original. When I asked why they said it was due to latency and liquidity. So the feature is broken or they are skimming. Either way I stopped using it.
Pros: Automated trading options|Multi-currency support|Two-factor authentication|Stable platform
Cons: Website design could be more modern
After for over a year with The Solomon Group I requested to close my account and withdraw. They said I had to complete a 30-day cooling-off period. Then they said there was a minimum holding period for my last deposit. They make it as hard as possible to leave.
Pros: Fast support response|Competitive fees|Two-factor authentication
Cons: Desktop app not available on Linux
I referred a friend to The Solomon Group after my brother mentioned them. We both deposited. The referral bonus never arrived. Support said we did not meet the terms. When we asked which terms they pointed to a clause that was added after we signed up. Shady.
Pros: Good mobile app|Easy to use platform|Multi-currency support|Dedicated account manager
Cons: Email notifications too frequent|No dark mode on mobile
KYC with The Solomon Group 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: Professional team|Responsive team|Copy trading available
Cons: Minimum deposit could be lower|Account statements could be more detailed