SOOLIKE

SOOLIKE is a South Africa-based brokerage that launched in April 2024 according to official registration records, though its website claims an establishment date of 2010. The firm is registered at Atrium on 5th, 9th Floor, 5th Street, Sandton, Johannesburg, 2196, South Africa. It operates under a Derivatives Trading License (EP) granted by the Financial Sector Conduct Authority (FSCA) of South Africa, classifying it as a regulated entity in the retail forex and CFD space.

The Financial Sector Conduct Authority (FSCA) is the primary regulatory body overseeing SOOLIKE. The licence is listed as an authorised financial services provider (FSP) with the status 'Regulated'. While this provides a degree of oversight, the broker is relatively new to the market, having been registered in 2024. Traders should note that the FSCA oversees many forex brokers, but the regulatory framework in South Africa is not as stringent as in some other jurisdictions, such as the UK or EU.

SOOLIKE offers four distinct account tiers. The MICRO account is the most accessible, with a minimum deposit of $100, making it suitable for beginners or those with smaller capital. The STANDARD account requires $700, while the ECN and PREMIUM accounts both start at $10,000, catering to more experienced traders with higher volume needs. All accounts offer maximum leverage up to 1:500, which is aggressive and can amplify both gains and losses.

The broker provides trading on over 275 instruments, including major, cross and minor forex pairs, spot metals, CFD indices, and shares. Trading is executed exclusively on the MetaTrader 5 (MT5) platform, which is available on desktop, web, and mobile. MT5 is widely recognised for its advanced charting tools, automated trading capabilities, and multi-asset support.

Based on the website, SOOLIKE claims no fees on withdrawals, but specific payment methods are not listed in the available data. Traders should verify accepted funding methods (bank transfer, credit/debit cards, e-wallets) directly with the broker. The broker also mentions an e-wallet feature for fund management, though details are sparse.

Our internal risk assessment assigns SOOLIKE a score of 41 out of 100, placing it in the 'Guarded' category. This moderate score reflects the broker's regulated status under the FSCA, balanced against its very recent establishment (2024) and the absence of independent user reviews. The discrepancy between the registration date (2024) and the company's claimed founding (2010) also introduces a note of caution.