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Score

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The WikiFX Score of this broker is reduced because of too many complaints!

SOOLIKE

South Africa|1-2 years|
Regulated in South Africa|Financial Service|MT5 Full License|Regional Brokers|High potential risk|

https://soolike.com/en

Website

Rating Index

MT4/5 Identification

MT4/5 Identification

Full License

2
Server Name
SoolikeCapital-MT5 Live MT5
Server Location Hong Kong

Contact

+27 10143 1654
support@soolike.com
https://soolike.com/en
Atrium on 5th, 9th Floor, 5th Street, Sandton, Johannes burg, 2196, South Africa
The WikiFX Score of this broker is reduced because of too many complaints!

Licenses

Licensed Institution:SOOLIKE CAPITAL MARKETS (PTY) LTD

License No.:53244

VPS Standard
*No restriction on the broker account

Single Core

1G

40G

1M*ADSL

WikiFX Risk Alerts
2024-12-23
  • The number of the complaints received by WikiFX have reached 12 for this broker in the past 3 months. Please be aware of the risk and the potential scam!

Basic information

Registered region
South Africa
Operating period
1-2 years
Company Name
SOOLIKE CAPITAL MARKETS
Abbreviation
SOOLIKE
Company employee
--
Customer Service Email Address
support@soolike.com
Contact number
0027101431654
Company website
Company address
Atrium on 5th, 9th Floor, 5th Street, Sandton, Johannes burg, 2196, South Africa
Keywords 6
1-2 years
Regulated in South Africa
Financial Service
MT5 Full License
Regional Brokers
High potential risk

Gux^pingu

Hong Kong

Introduced by a friend, I opened an account and deposited funds for trading on the SOOLIKE platform, which coincidentally had a bonus promotion at the time. I deposited $500 and gradually made some profits. However, when I tried to withdraw, my withdrawal request was rejected within minutes, with the reason being that it was an arbitrage account and I needed to trade 3 lots after deducting the bonus before I could withdraw. I was puzzled as it only took a few minutes without a proper review to claim there was an issue with my account. Seeing that the requirement was only 3 lots, which wasn't strict, I decided to continue trading until reaching three lots before attempting another withdrawal. However, when I met the 3-lot trading volume, my withdrawal request was still denied on the grounds of insufficient trading volume. When I asked customer service, they claimed I had only traded 0.3 lots. Thinking maybe the system hadn't updated, I continued to trade another 3 lots, but the result was the same; no matter if I emailed or asked online customer service, they kept saying I had only done 0.3 lots. After trading more than 10 lots and realizing that no matter how much I traded, the platform would still claim 0.3 lots, something seemed off—it might have been deliberate. Only then did the account manager say that arbitrage accounts could only withdraw principal and that I also needed to record a video and write an agreement by hand to withdraw my principal. With no other choice, I reluctantly agreed just to get my principal out. For SOOLIKE's behavior of deducting profits without any evidence and constantly manipulating customers in various ways, I cannot tolerate it! I hope to seek justice and recover my deducted profits. Also, I hope all investors will be vigilant and recognize the true nature of such scam platforms! Stay away from scam platforms!

Exposure

12-10

宇。

Hong Kong

All transactions were normal, but after a $4k rollover, the platform directly deleted my account and forcibly confiscated it, refusing to allow withdrawals. That's really something.

Exposure

12-10

cassiel lin

Hong Kong

Profit is forcibly liquidated, and all profits are confiscated under the pretext of system abnormalities, even the principal is reset to zero.

Exposure

10-01

海洋5326

Hong Kong

Profit cannot be withdrawn. Normal trading is considered as violating platform rules, and the profitable portion is forcibly reclaimed.

Exposure

09-18

FX2405448760

Hong Kong

After reading the rules of the bonus offer, I dared not participate in any bonus activities. The account manager communicated that trading in non-bonus accounts would not be restricted and withdrawals would not be subject to review. Consequently, I did not participate in any activities and made deposits for trading, yet my account was still closed while in a profitable position.

Exposure

09-14

FX2405448760

Hong Kong

The response time for opening and closing positions can be as long as half a minute. After the position account is profitable, the trading function is cancelled, and it is unable to open or close positions, set stop loss or take profit. After the profit reaches a certain amount, the account will be closed directly. After setting the account balance for withdrawal, all customer accounts will be closed. The general explanation given is that if there is a bonus in the account, it is considered as improper trading, and if there is no bonus, it is considered as a system exception. The account will be forcibly closed after the positions are liquidated.

Exposure

09-10

FX2405448760

Hong Kong

The response time for opening and closing positions reaches up to half a minute. After the holding account shows a profit, the trading function is disabled, preventing any new positions from being opened or closed, and stop loss and take profit settings are inaccessible. Once profits reach a certain threshold, the account is directly closed. The platform autonomously decides to close all customer accounts after the account balance is withdrawn. Common explanations provided are: if the account has bonus funds, it's considered illegitimate trading; if there's no bonus, it's attributed to a 'system anomaly,' followed by forced closure of the account after positions are closed.

Exposure

09-03

FX2405448760

Hong Kong

Be wary of participating in bonus programs; excessive profits may lead to your account becoming non-functional. Carefully read the rules of any bonus program to determine if there's a chance your trading could be deemed improper before deciding to participate. Even if not participating in a bonus program, be cautious as reaching certain profit levels might still result in your account functionalities being disabled (often attributed to "system anomalies").

Exposure

08-23

FX2356709439

Hong Kong

I have traded a total of 2 orders, but the platform has determined that I am engaged in high-frequency trading and refuses to provide profits. It's a scam platform. Everyone must not register on this platform, take this as a warning. I asked customer service why I could only trade 2 orders, and the platform said that I was engaged in high-frequency trading, so my account was suspended. I can't believe it. I traded one order on August 12th and another on the 13th, making a profit of several hundred US dollars, but they still determined it as high-frequency trading. Your ugly face really disgusts people. 😡😡😡

Exposure

08-21

FX2405448760

Hong Kong

The balance of account 300568 on the soolike platform on Friday, August 9th was $1265. I opened a long position of 0.1 lots of gold. On Monday, August 12th, I added another long position of 0.3 lots of gold. Around 22:00 Beijing time on the same day, I made a profit of over $1000. At that time, I planned to set a take profit at $2470 and take a rest. However, I found that I couldn't set it. So I tried to close the position, but I couldn't close it either. I predicted that the trading function of my account was restricted, so I contacted my account manager. The account manager was estimated to be off duty and did not reply. Then I contacted the platform customer service. The platform customer service replied that my account was closed due to abnormality, which was caused by a system error, specifically a conflict of backend system instructions. The platform forcibly closed the position and closed the account based on customer instructions. The remaining funds of $1814 in the account will be refunded to the bank account. I have repeatedly negotiated with the account manager to request the restoration of the account and to view the trading records and account balance, but to no avail. On Wednesday, August 14th, $1972 was returned to my account. I strongly condemn this unjustified suspension of my holding account and demand the restoration of the account to view the trading records and account balance, and to meet the bottom line requirement of replenishing my account balance. At present, I can forgive the platform for the expected high losses caused by the account closure.

Exposure

08-19

FX2356709439

Hong Kong

On the evening of August 12th, there was significant movement in gold prices, so I executed a trade that resulted in a few hundred dollars in profit. I then placed another order around the price of 2470. By the early morning of August 13th, when I saw the trend was not favorable, I quickly closed the position for a small profit. Subsequently, I was unable to place any more orders. When I logged into the platform and contacted customer service, they accused me of high-frequency trading and scalping, which they claimed are not permitted on the platform, and proceeded to close my account. WTF! From August 12th to 13th, I only made two trades; the platform labeled this as high-frequency trading. Moreover, each of these trades lasted over five minutes. When I tried to log into my account again, it showed authorization failed and I couldn't access my account (see attached image). You can close my account if you must, but accusing me of high-frequency trading is something I cannot accept. Since the platform is acting unreasonably, I attempted to withdraw my funds, only to be informed by the platform that I could only withdraw my principal and not my profits. They also stated that it's up to the platform to determine the type of trading (see attached image), implying that if they label you as a high-frequency trader, then you are one—whether it’s true or not—thus no profits will be paid out. Throughout ongoing communications with customer service, all they say is that if the platform determines it's high-frequency trading, then it is considered such. If you can't handle it, then don't start.

Exposure

08-15

模式

Hong Kong

I was enticed to deposit and trade gold with the promise of an $18 commission per lot. I incurred a loss of $8,800, trading approximately 268 lots, which should have earned me over $4,800 in commissions. However, I only received about $1,300 in rebates. From April 2024 until a few days ago, they never provided me with the commission account login details. Only recently when I asked customer service, they told me that the account had been canceled long ago and that they had informed the account manager. However, the manager kept this hidden from me. When I asked him to help retrieve my transactions and check the fees, he kept making excuses and claimed he was checking with finance; months passed without any resolution. They deliberately delayed and hid the truth because they did not want to pay me and encouraged me to keep trading and incurring more losses. Only after persistent questioning did they recently register a new commission account for me and transferred $1,300. They still owe me $3,500, which seems unlikely to be paid back. Please help me get justice and warn others not to fall for such scams.

Exposure

08-14

模式

Hong Kong

The account manager promised a commission of 18 USD per lot for a gold and foreign exchange spread of 35 to 35 points. I traded more than 260 lots, so I should have received around 5000 USD in commission. However, I only received a little over 1300 USD in commission, and there is still more than 3000 USD missing. They unauthorizedly closed my agent account. During my trading process, I incurred a loss of 8800 USD. They did not fulfill their promise to return the commission and forcibly withheld my commission. When I contacted customer service, they refused to assist me. When I contacted the account manager, they kept insisting that I was engaging in fraudulent trading and refused to give me the commission. No one mentioned anything about fraudulent trading before, and I myself do not understand how to engage in full position trading, which resulted in the loss of 8800 USD. I will not seek compensation for my personal loss of 8800 USD from anyone, but they should fulfill their promise to return the commission. This is a typical scam platform that preys on inexperienced traders. Please help coordinate the return of the rightful commission.

Exposure

08-13

123AA

Hong Kong

There are orders for two weeks, and if I make a profit, they say I am scalping. The delay is high, and it takes 30 seconds to open and close an order. The account manager blocked my WeChat and the platform closed the backend.

Exposure

08-02

FX4299740212

Malaysia

I have been trading for a while, and while making money, I also provided strategies for me. The service is good, which is great.

Positive

09-06

FX3456829294

United States

Soolike has low spreads and fast withdrawals. I like it very much.👍

Positive

09-02

A0 Rock 

Malaysia

I was initially drawn to this broker because of its no deposit bonus, but I soon found that it provides good trading conditions. I enjoy commodity and energy trading. They offer both! The most amazing feature is that they always executed my deals at the best price. I made the correct choice!

Positive

08-05

FX4309846872

Singapore

Smooth trading, fast deposits and withdrawals 😎

Positive

08-02

Usman Abubakarr

South Africa

Unlike other traders, I benefited more from this broker's professional insights, always picking up something new to improve my trading, like news trading and trend strategies, which were really helpful for me.

Positive

07-22

FX2500825592

Hong Kong

I'm all about the competitive spreeds.It's like getting a discount on every trade,Love it.

Positive

06-06

30
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Official website

Website

  • soolike.com

    Server Location

    Germany

    Website Domain Name

    soolike.com

    Server IP

    77.37.44.56

Company Summary

SOOLIKEReview Summary
Founded2010
Registered Country/RegionRegulated
RegulationSouth Africa
Market InstrumentsForexPrecious metalsCommoditiesEnergiesIndicesStocks CFDCryptocurrency
Demo Account
LeverageUp to 1:500
SpreadFrom 0.0 pip
Trading PlatformMT5
Min Deposit$100
Customer SupportPhone: +27 10143 1654
Email: support@soolike.com
Online Chat: 24/7
Physical Address: Atrium on 5th, 9th Floor, 5th Street, Sandton, Johannes burg, 2196, South Africa
Social Media: Twitter, Facebook, Instagram, Linkedin

SOOLIKE Information

SOOLIKE is a South African-registered brokerage established in 2010 and regulated by the FSCA. It enables traders to trade various products, including forex currency pairs, commodities, futures, indices and stocks via the MetaTrader 5 trading platform. There are also 4 types of accounts that support spreads starting from 0.0pip.

SOOLIKE Information

Pros and Cons

Pros Cons
Well regulated
275+ instruments
The spread starts at 0.0 pip
Support MT5

Is SOOLIKE Legit?

Regulated RegionRegulated AuthorityRegulated EntityLicense TypeLicense NumberCurrent Status
Regulated Region
FSCASOOLIKE CAPITAL MARKETS (PTY) LTDFinancial Service53244Regulated
Regulated Authority

What Can I Trade on SOOLIKE?

SOOLIKE says it supports 275+ instruments, including trading forex pairs, such as GBPUSD, EURUSD, USDJPY, etc. It also has Stock CFDs; Ftse 100, Germany 40, Wall Street and other indexes; Precious metals are gold, silver and so on; Trading commodities, including metals, energy and agricultural markets; It is also possible to trade more than a dozen cryptocurrencies, including Bitcoin, Ether and Litecoin.

Tradable Instruments Supported
Forex
Precious metals
Commodities
Energies
Indices
Stocks CFD
Cryptocurrency
Bonds
ETF
What Can I Trade on SOOLIKE?

Account Types

SOOLIKE has four types of accounts: Standard Account, Premium Account, Micro Account and ECN Account.

They have a uniform leverage of 1:500, with minimum deposits from $100 to $10,000.

Account Types

SOOLIKE Fees

The spread of the 4 accounts ranges from 0pip to 1.8pip with no commission. In addition, all four types of accounts charge swap fees.

Trading Platform

SOOLIKE enables traders to use MT5 on desktop, mobile and web.

Trading PlatformSupported Available Devices Suitable for
MT5Desktop, Mobile, WebSkilled traders
MT4
Trading Platform

Deposit and Withdrawal

SOOLIKE supports payment methods such as VISA, BANK TRANSFER, Bitcoin, Perfect Money, wire transfer and mastercard.

Deposit and Withdrawal
Deposit and Withdrawal

Keywords

  • 1-2 years
  • Regulated in South Africa
  • Financial Service
  • MT5 Full License
  • Regional Brokers
  • High potential risk

News

Analysis of today's market

News Analysis of today's market

On Thursday, gold prices rebounded from Wednesday's sharp decline, gaining 0.20%. Gold had fallen sharply earlier following the Federal Reserve's decision to adopt a more gradual stance and oppose thr

2024-12-20 09:10

Analysis of today's market

News Analysis of today's market

Gold prices edge slightly higher during the North American session at the beginning of the week, up by 0.28%, as investors await the Federal Open Market Committee (FOMC) decision. At the time of writi

2024-12-17 09:12

Analysis of today's market

News Analysis of today's market

On Thursday, as investors digested U.S. economic data, gold prices ended a streak of consecutive gains, plunging by more than 1%. The consumer report was more moderate than expected, but higher prices

2024-12-13 09:22

Analysis of today's market

News Analysis of today's market

On Wednesday, gold prices extended their upward trend after the release of U.S. inflation data. As the inflation picture evolves, expectations for the Federal Reserve to cut interest rates next week h

2024-12-12 09:14

Analysis of today's market

News Analysis of today's market

Gold climbed during the North American session on Tuesday with buyers eyeing the $2,700 mark for the first time since November 25. One of the drivers of the rise in the price of the yellow metal is th

2024-12-11 09:23

Analysis of today's market

News Analysis of today's market

On Thursday, gold prices declined as investors digested the latest U.S. jobless claims data ahead of the November non-farm payrolls release. The surge in U.S. Treasury yields impacted gold, causing it

2024-12-06 09:09

View More

Review 30

All(22) Latest Positive(8) Exposure(14)
Gux^pingu

3-5 years

Hong Kong

Exposure
SOOLIKE platform arbitrarily deducts profits!
Introduced by a friend, I opened an account and deposited funds for trading on the SOOLIKE platform, which coincidentally had a bonus promotion at the time. I deposited $500 and gradually made some profits. However, when I tried to withdraw, my withdrawal request was rejected within minutes, with the reason being that it was an arbitrage account and I needed to trade 3 lots after deducting the bonus before I could withdraw. I was puzzled as it only took a few minutes without a proper review to claim there was an issue with my account. Seeing that the requirement was only 3 lots, which wasn't strict, I decided to continue trading until reaching three lots before attempting another withdrawal. However, when I met the 3-lot trading volume, my withdrawal request was still denied on the grounds of insufficient trading volume. When I asked customer service, they claimed I had only traded 0.3 lots. Thinking maybe the system hadn't updated, I continued to trade another 3 lots, but the result was the same; no matter if I emailed or asked online customer service, they kept saying I had only done 0.3 lots. After trading more than 10 lots and realizing that no matter how much I traded, the platform would still claim 0.3 lots, something seemed off—it might have been deliberate. Only then did the account manager say that arbitrage accounts could only withdraw principal and that I also needed to record a video and write an agreement by hand to withdraw my principal. With no other choice, I reluctantly agreed just to get my principal out. For SOOLIKE's behavior of deducting profits without any evidence and constantly manipulating customers in various ways, I cannot tolerate it! I hope to seek justice and recover my deducted profits. Also, I hope all investors will be vigilant and recognize the true nature of such scam platforms! Stay away from scam platforms!
12-10
Replied
Reply from official SOOLIKE
Dear customer, hello! Your withdrawal has been fully remitted to your account on November 26, 2024, and the withdrawal is in a successful status. Please note that for all arbitrage accounts using the "Deposit 500, Get 500" bonus, after the bonus is withdrawn, customers need to trade with their own funds for a minimum of 3 lots and hold the position for at least 30 minutes before they can make a withdrawal. Your current compliant order volume is 0.3 lots. Please fulfill the designated volume requirement while complying with the rules. For details, please refer to Rule 9 on the activity page of our official website: 9. During the activity period, if participants are found to violate the terms of the activity, such as trading with multiple accounts using the same IP address, or engaging in activities such as linking, arbitrage, malicious hedging, high-frequency trading arbitrage, quote delay arbitrage, trading in large volumes using bonus, continuous or multiple one-way trading, excessive concentration of trading products, which may lead to high position risk, in any such case, SOOLIKE CAPITAL has the right to refuse their participation in this activity, cancel their eligibility, recover any improper profits, and terminate the cooperation with the customer. Any termination of the cooperation relationship (such as cancellation of activity eligibility, improper profit extraction, etc.) due to improper trading behavior shall be borne by the improper trader, and the judgment criteria for trading behavior shall be determined by SOOLIKE CAPITAL. In addition, to protect customer privacy and rights, SOOLIKE CAPITAL may not be able to provide relevant evidence. Customers participating in this activity are deemed to be aware of and agree that if they are determined to have engaged in improper trading behavior in the future, they have no right to make malicious comments or damage the reputation of SOOLIKE CAPITAL on any social media or channel. Otherwise, the improper merchant and the information disseminator will bear corresponding legal responsibilities.

Original

尊敬的客户,您好! 您的取款我司已于2024年11月26日全额汇款至您的账户,取款是成功到账状态。 请留意,所有使用入500送500赠金的套利账户,在赠金收回后,客户需用自有资金做满3手以上持仓时间30分钟以上交易量方可取款。 您当前合规订单手数为0.3手,请在遵守规则的前提下完成既定手数要求。详情可参考我司官网活动页面活动规则第9条: 9. 活动期间,如发现参赛者违反活动条款,如同时使用同一IP地址的账户进行交易,或使用多个账户(不限于SOOLIKE CAPITAL内部账户,但(不同经纪商账户之间)联动、套利和恶意对冲、高频交易套利、报价延迟套利、利用赠金大量交易手数、连续或多次单向交易、交易产品过度集中等不当行为交易方式导致持仓风险高,如遇任何情形,SOOLIKE CAPITAL有权拒绝其参加本次活动、取消其参加资格、追回不正当利润并终止与客户的合作关系。 任何因交易方式不当导致的合作关系终止(活动资格取消、不当收益提取等),均由不当交易者自行承担,交易方式的判断标准由SOOLIKE CAPITAL确定。此外,为保护客户隐私及权益,SOOLIKE CAPITAL可能无法提供相关证明。 参与本次活动的客户即视为知悉并同意,若日后被判定有不当交易行为,无权在任何社交媒体及渠道发表恶意评论或损害SOOLIKE CAPITAL声誉的言论,否则不当商家及协助传播信息者将承担相应的法律责任。

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※ The content of this website abides with local laws and regulations.
You are visiting the WikiFX website. WikiFX Internet and its mobile products are an enterprise information searching tool for global users. When using WikiFX products, users should consciously abide by the relevant laws and regulations of the country and region where they are located.
consumer hotline:006531290538
Official Email:support@wikifx.com;
Mobile Phone Number:234 706 777 7762;61 449895363
Telegram:+60 103342306
Whatsapp:+852-6613 1970;
License or other information error corrections, please send the information to:qawikifx@gmail.com
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