SYNQUOTES Forex Broker

Aspect Information Registered Country United Kingdom Founded Year Within 1 year Company Name SYNQUOTES LTD Regulation Suspicious Regulatory License Minimum Deposit Not specified Maximum Leverage Up to 1:400 Spreads Starting from 0 pips Trading Platforms MT5 Trading Platform Tradable Assets Foreign exchange, precious metals, energy products, indices, stock CFDs Account Types Four different account types Demo Account Not specified Islamic Account Not specified Customer Support 24/7 support via email: synquotesofficial@gmail.com Overview of SYNQUOTES SYNQUOTES LTD is described as a suspicious clone with no valid regulation, raising potential concerns for traders. The broker claims to have a United States NFA regulation license, but it is suspected to be a clone, indicating a high-risk factor. Additionally, SYNQUOTES lacks a trading software, which further adds to the cautionary tone of the description. Traders are advised to be cautious and avoid engaging with this broker due to the indicated risks. Despite the potential risks associated with SYNQUOTES, the broker provides access to a variety of market instruments. Traders can engage in foreign exchange trading with mainstream currency pairs, as well as trade precious metals, energy products, indices, and stock CFDs. However, given the suspicious nature of the broker, traders should carefully consider the associated risks before engaging in any trading activities. SYNQUOTES offers different account types to cater to traders' varying needs. However, specific details or comparisons are not provided. Furthermore, the broker's leverage feature allows traders to amplify their investment returns up to 1:400, and the pricing options start from 0 pips. While the platform offers a withdrawal feature, specific payment methods are not explicitly mentioned, requiring users to inquire directly with SYNQUOTES for further information. Pros and Cons SYNQUOTES offers several potential advantages, such as providing a wide range of over 120 market instruments and offering four different account types to cater to traders' needs. The platform also offers powerful leverage of up to 1:400 and pricing options starting from 0 pips. Additionally, SYNQUOTES provides a T+0 withdrawal option, a versatile MT5 trading platform, and 24/7 customer support. However, there are several concerns and drawbacks to consider. SYNQUOTES is described as a suspicious clone with no valid regulation, which raises doubts about its legitimacy and reliability. There is a lack of information on the specific details or comparisons of the offered account types, and the signup page is currently unavailable, potentially causing inconvenience for prospective users. Users have reported difficulties in withdrawing funds, and the platform lacks trading tools or educational resources. Furthermore, there is a limited availability of customer support channels, which may impact the responsiveness and assistance provided by the platform. Pros Cons Provides over 120 market instruments Suspicious clone with no valid regulation Offers four different account types Lack of information on Account types Leverage up to 1:400 Signup page is currently unavailable Pricing options starting from 0 pips Difficulties in withdrawing funds T+0 withdrawal option No trading tools or educational resources available Versatile MT5 trading platform Lack of customer support channels 24/7 customer support Is SYNQUOTES Legit？ Based on the provided information, SYNQUOTES LTD is described as a suspicious clone with no valid regulation. The National Futures Association (NFA) states that the broker's claimed United States NFA regulation (license number: 0554074) is suspected to be a clone, indicating a potential risk. Additionally, it is mentioned that the broker does not have a trading software. The tone of the description is subjective and warns readers to be cautious and stay away from this broker due to the indicated risks. Market Instruments SYNQUOTES provides over 120 market instruments covering foreign exchange, precious metals, energy products, indices, and stock CFDs. Foreign Exchange: SYNQUOTES allows traders to easily trade mainstream foreign currency pairs in the international market. This includes popular currency pairs such as EUR/USD and GBP/USD, as well as small and rare currencies. Precious Metal: Traders can start their trading journey in spot gold and spot silver with SYNQUOTES. This provides an opportunity to trade these precious metals in the market. Energy: SYNQUOTES provides access to the wider international crude oil and natural gas market. Traders can enjoy trading energy products with ultra-low spreads. Index: The international index market is available at SYNQUOTES, offering more trading opportunities. Traders can easily trade various indices with ultra-low spreads. Stock: SYNQUOTES allows customers to engage in digital currency CFD trading, enabling them to participate in the new trends brought by the international market. This includes trading stock CFDs of large companies listed on major global exchanges such as NYSE, NASDAQ, and LSE. Pros Cons Wide range of market instruments Some instruments may have high spreads Ultra-low spreads from 0 pip Cryptocurrencies unavailable No commission fees Account Types SYNQUOTES offers four different account types to cater to the varying needs of its customers. While specific details or comparisons are not provided, each account type is designed to suit different trading preferences and objectives. Leverage SynQuotes offers a powerful leverage of up to 1:400, providing traders with significant potential for amplifying their investment returns. With SynQuotes, users can access a wide range of financial instruments and markets, enabling them to diversify their trading strategies. The platform's leverage feature allows traders to control larger positions with a smaller amount of capital, potentially enhancing profit opportunities. Spreads SYNQUOTES provides pricing options starting from 0 pips, allowing traders to have control over their trading strategies. Fees SYNQUOTES charges 0 handling fee. This fee policy eliminates unnecessary expenses and provides users with a hassle-free trading experience. Deposit & Withdrawal SYNQUOTES provides a withdrawal feature for its users. The platform offers a T+0 withdrawal option, allowing users to access their funds promptly. However, specific payment methods are not explicitly mentioned, so users may need to inquire about the available options directly from SYNQUOTES. Pros Cons T+0 withdrawal option Payment methods not explicitly mentioned Prompt access to funds No fees for withdrawals Trading Platforms SYNQUOTES' MT5 Trading Platform is a versatile and accessible solution for worry-free transactions. Available for PC computers, iOS Apple devices, and Android devices, it offers users the option to trade anytime and anywhere. With its user-friendly interface and comprehensive features, including Multi-Terminal and Multiple Account Management tools, MT5 caters to both individual traders and professional account managers. It provides a seamless trading experience, allowing users to execute trades, analyze market data, and manage their positions. Pros Cons Popular platform MT5 Not as user-friendly as some other platforms Available on multiple devices Some features may be complex for beginners User-friendly interface Not as many charting tools as some other platforms Comprehensive features Can be slow at times Customer Support SYNQUOTES provides customer support services to address traders' inquiries and concerns. Traders can reach out to the platform's customer service team through the provided contact email address, synquotesofficial@gmail.com. The customer service team is available 24/7, offering timely responses to traders' queries. Reviews According to a review on WikiFX, there are complaints about SYNQUOTES regarding difficulties in withdrawing funds. The reviewer mentions being repeatedly informed that they need to return the Ruitu Fund before being able to withdraw. It appears that the reviewer from Taiwan encountered issues with the withdrawal process. Conclusion In conclusion, SYNQUOTES LTD is described as a suspicious clone with no valid regulation, as indicated by the National Futures Association (NFA). The broker lacks a trading software, which adds to the concerns regarding its legitimacy. Potential risks are emphasized, and caution is advised when dealing with this broker. Despite offering a wide range of market instruments, including foreign exchange, precious metals, energy products, indices, and stock CFDs, the disadvantages of SYNQUOTES outweigh the advantages due to the suspicious nature of the clone, lack of regulation, and potential difficulties with fund withdrawals, as mentioned in a review on WikiFX. FAQs Q: Is SYNQUOTES a legitimate broker？ A: Based on the available information, SYNQUOTES LTD is considered a suspicious clone without valid regulation, posing potential risks. Q: What market instruments does SYNQUOTES offer？ A: SYNQUOTES provides a wide range of market instruments, including foreign exchange, precious metals, energy products, indices, and stock CFDs. Q: What are the account types offered by SYNQUOTES？ A: SYNQUOTES offers four different account types tailored to various trading preferences and objectives. Q: What leverage does SYNQUOTES provide？ A: SYNQUOTES offers leverage of up to 1:400, allowing traders to amplify their investment returns. Q: What are the deposit and withdrawal options？ A: SYNQUOTES provides a withdrawal feature with T+0 withdrawal option, although specific payment methods are not explicitly mentioned. Q: What trading platform does SYNQUOTES use？ A: SYNQUOTES utilizes the MT5 Trading Platform, available for PC, iOS, and Android devices. Q: How can I contact SYNQUOTES customer support？ A: You can reach SYNQUOTES' customer support team via the provided contact email address: synquotesofficial@gmail.com. Q: Are there any complaints about SYNQUOTES？ A: According to a review on WikiFX, there are complaints about difficulties in withdrawing funds with SYNQUOTES.