Top 5 CFD Solana Brokers - January 2022

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1
Internationally respected trading platform
98
Users Score
2
Trusted by over 200,000 traders
92
Users Score
3
Free Education
86
Users Score
4
Cancel losing trades
80
Users Score
5
15+ years in the industry
78
Users Score
Broker
Advantages
Asset
Type
Spreads
From
Max
Leverage
User
Score
Regulation
Support
Start Trading
1
Internationally respected trading platform
Bitcoin
Ethereum
Litecoin
Solana
Variable
Variable
Variable
Variable
2:1
2:1
2:1
2:1
FCA (UK), CySEC, ASIC (Australia)
2
Trusted by over 200,000 traders
Bitcoin
Solana
0.20%
1%
25:1
5:1
ASIC, FSB, Mifid, IIROC, FSA
3
Free Education
Bitcoin
Solana
1000 Pips
1764 Pips
20:1
20:1
ASIC (Australia), VFSC
4
Cancel losing trades
Bitcoin
Solana
$100
$1.80
50:1
10:1
CySEC, ASIC
5
15+ years in the industry
Bitcoin
Solana
Variable
Variable
N/A
N/A
CySEC, FCA (UK), FSCA, SCB

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Solana (SOL)

Solana currently ranks as the fastest-growing blockchain ecosystem in the world, featuring 400+ projects including Web3, NFTs (non-fungible tokens), and Defi (decentralized finance). Solana is fully decentralized and scalable for worldwide adoption. Plus, a single integration is all that’s required to access the network. As a user or a developer, the low-cost structure of Solana ensures perpetual affordability with transactions costs pegged at $0.01. Block times are completed in as little as 400 ms, with increasing network speeds with upgraded hardware.

The native digital currency for Solana is SOL. It is used for staking purposes and for paying transactions fees. SOL enjoyed a major price boost when an NFT collectible project known as the Degenerate Ape Academy launched on the Solana blockchain. Solana functions in a similar way to Ethereum. It assumes the role of a digital currency and as an ecosystem for creating crypto-based applications. Performance metrics indicate that Solana processes an estimated 50K transactions P/S, significantly higher than Ethereum with a maximum of 15. Owing to its speed and unique scaling capabilities, Solana can maintain extremely low fees.

This cryptocurrency’s developers are aiming to compete with centralized credit card payment processors like Visa, MasterCard, and American Express. Solana stands out from the crowd, notably Bitcoin, Ethereum, Litecoin, Ripple, and others since it utilizes smart technologies, notably a Proof of History (PoH) mechanism (a combination of both of stake and proof of history) allowing all computers on a decentralized network to interact and come to a consensus. Solana was created by Anatoly Yakovenko and Greg Fitzgerald to provide frictionless, cost-effective, rapid financial services to small, medium, and enterprise-level operations.

 

Trading Solana 

Solana has a circulating supply of 311,207,039.16, with a maximum supply of 511,616,946 SOL. The market capitalization (January 2022) stands at $43 billion, with a price per SOL of $138.44. Given the extreme volatility of the cryptocurrency market, prices can whipsaw wildly from one day to the next. SOL is a top 10 cryptocurrency.

The price of SOL and BTC have a 0.53 correlation coefficient, SOL and ETH have a 0.76 correlation coefficient, and SOL and XRP have a 0.85 correlation coefficient. The greater the correlation coefficient is to +1, the more in sync their pricing movements. Traders and investors holding sets of strongly correlated cryptocurrencies tend to experience profits or losses in both digital assets simultaneously.

Be advised there are no insurance safeguards against volatility with cryptocurrencies.

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"A friend of mine recommended them to me. They are by far the best CFD broker I ever used thus far."

User Score: 98 Written on: 22.10.2020

Pros

  • Demo trading account
  • 250 tradable instruments
  • Global licensing and regulation

Cons

  • List of tradable assets not visible on site before registration
  • Doesn’t offer guaranteed stop losses

"I was new in CFD trading and had no clue on how to trade CFDs. I strongly recommend this broker both for beginners and advanced traders."

User Score: 88 Written on: 12.07.2020

Pros

  • Segregated Accounts
  • Professional CFD Trading Options
  • Wide Range of Currency Pairs (major pairs, minor pairs and exotic pairs)

Cons

  • No Telephone Customer Support Available
  • No MT4 Platform
  • Trading Platform Limited to Regulated Jurisdictions Only

"As an experienced trader, I think they are great. They offer great options and low spreads along with excellent trading tools."

User Score: 86 Written on: 19.06.2020

Pros

  • Segregated client funds
  • Fully regulated by ASIC and VFSC
  • Leverage of 1:30 for Australia and 1:500 for Vanuatu
  • Multiple FX pairs, indices, commodities and shares to trade

Cons

  • Limited account types
  • No promotional offers
  • Available in regulated jurisdictions only