Synth Trade Review – Fraudulent Forex Dealer To Avoid

Some financial swindlers are so obvious that you can immediately tell they ought to get your money. For a company that has no traces online except several paid reviews cannot be a successful Forex business, established in 1995. 

Such opposing information and inconsistency point out a single, universal truth – you’re dealing with a faux online trading brand. This Synth Trade review presents solid evidence of that.  

Unsupported Legal Claims

The false corporate information presented to the viewers serves as a way of leaving an entirely wrong impression on the potential future clients, just like what IRStrategies does. The firm in question should be operating out of Switzerland, one of the strictest regulatory zones in the world. FINMA, the jurisdictional financial authority, has no information related to Synth Trade, however. 

What makes matters worse is the fact that this scheme doesn’t appear in any of the registers kept by prominent regulators, such as BaFin, FCA, NFA, and ASIC. In addition, legal documentation is not provided in any shape or form, which eventually leaves us with the assumption that this firm doesn’t virtually exist. 

The most probable case is that the conduct is a one-man company or a fictitious firm. It exists solely to defraud unsuspecting victims, by exposing their funds to danger and not providing the compensation options and negative balance insurance.

How Fraudsters Gain Traffic

Claims of being legitimate and operating under strict supervision, as well as captivating visual elements on the site, all participate in building the wrong image of the broker. Forex enthusiasts who are stepping into the murky waters of online trading are the easiest targets. 

The majority of them come from these countries:

• Canada
• Germany
• United States
• United Kingdom
• Pakistan

With that in mind, please pay attention to the legal stance of every suspicious conduct that approaches you with a seemingly irresistible deal. The promised profit is quite implausible at the very least, and all you will encounter is borderline molestation because you’re urged to keep depositing. 

Bribed Opinions

The vast majority of the reviews posted on Sitejabber are entirely fake. There’s not much evidence about the real state of things, considering that 27 reviews in total make for a 4.7 star rating. Several opinions posted that spoil the flawless grade are the only honest ones, which speak of phone harassment, lost money and unfair customer treatment.

Not a single other review website features any ratings for this firm, which is beyond suspicious. If you have anything to share related to this service provider, do not refrain from doing so!

Trading Info Out Of Sight

Unbased claims of quick gains awaiting you on this site are additionally supported by statements about no commissions or fees charged. That is plain silly and simply impossible, considering that it’s how brokers earn, after all. 

However, this fraudster makes their lack of transparency absolutely alarming. Not only are the basic trading terms and parameters unknown, but all other costs and service taxes are left unrevealed, as well. In that sense, you do not know what is the allowed leverage, and spreads or funding fees.

Appalling Trading Environment

Even signing up for this platform is quite the pain. After you somehow manage to obtain account parameters, you still won’t be able to access the trading zone until you fully validate your account. A fine example of a completely useless trading portal with nothing of value to offer. 

Inaccessible Web Trader

Ever magnificent and out of the ordinary Synth Trade platform is nothing but a simplistic web trader devoid of functionality and authenticity. Unfortunately, even the access to such a simple and almost useless terminal is not so easy to obtain. 

After we’ve created an account, our efforts to test the platform and examine the trading environment were halted. The reason for that is the recurring error during the login that said “Parameters validation error!”. No email ever arrived addressing this issue.

In the end, we’ve established that before uploading your personal information and ID and passport photos, you cannot get to use the trading software at all!

Short List of Assets

The range of financial instruments available on this site reflects the state of the rest of their services. These can only be described as scarce and obscure. Only these few groups of tradable assets were described on the website:

• Forex (EUR/USD, USD/GBP, EUR/CHF)
• Crypto (BTC, ETH, LTC, XRP, ZEC, ADA)
• Stocks (Tesla, Meta, Ford, Adidas, Alibaba)

Lack of Accounts Diversity

Even entirely fake online trading portals are growing more convincing by the day with the way they market their services and expand their offers. Vivo Holding is a good example of that. The same cannot be said about the Synth Trade accounts. 

It is apparent that you can only sign up for one account type, without the chance to test the environment during a trial period. However, there’s also no sign of other packages being available. So you can’t expect other bundles that feature different trading terms and tools for another price.

Narrowed Payment Options

Moving your capital to and fro your live trading account is only performed via crypto. Having this transaction method as only one available is another red flag that should immediately warn off traders from investing here. 

Crypto transfers are indeed quick and seamless, but barely traceable and almost irreversible. The secret lies in the usage of wallets that do not bear the names of their owners, so you will not find out who your funds have gone to unless you have the software and equipment. Refer to our agents for help on that. 

No One To Assist Clients

Trying to appeal to the Synth Trade support is completely futile. After repeatedly attempting to send the online form, we kept getting an unidentified error. The phone number is false and no one ever replies to the emails. It’s as if you’re trying to contact a non-existent person or service.

Ask For A Refund!

The greedy lot running this unscrupulous scheme does not deserve to get rich by robbing decent Forex traders. If you’ve been tricked into depositing into shady projects and then lost your entire deposit, feel free to ask for help. 

We encourage you to share your experience and tell us all about the swindler that has run off with your capital. In return for this information, we can help you report them and attempt to recover the money you lost. Contact our live chat agent for more information.

FAQ Section