SynergyFX – legit or scam?

  • This topic has 4 replies, 1 voice, and was last updated 1 week ago by Salvo.
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  • #180003 Reply
    Salvo

      Pls can I know if SynergyFX can be trusted? Has Daytrading.com reviewed them or any readers traded with them?

      TY!

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      • #180092 Reply
        James Barra
        Moderator
          DayTrading.com Team

          Hi Salvo,

          Thank you for your message.

          We have reviewed SynergyFX and have some concerns regarding its regulatory credentials.

          On the bottom of its website it claims “SYNERGY FX MARKET is regulated by the US Securities and Exchange Commission and the Commodity Futures Trading Commission”. However, I’ve run its details through the relevant regulator’s registers and can’t find any evidence that it is indeed authorized by the SEC and CFTC.

          I have also contacted the firm directly for clarification but await a response. Additionally, I noted the support team have not been active on the live chat channel since 08/10/2023, which raises concerns about the availability of assistance when needed.

          Ultimately, I would be careful about registering with SynergyFX. You may want to explore other trusted brokers.

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        • #180114 Reply
          Salvo

            Ok thanks but do all of those platforms in your page accept traders in Australia?

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          • #180116 Reply
            James Barra
            Moderator
              DayTrading.com Team

              Yes, all of those brokers accept traders from Australia. Is that where you are based?

              If so, you may want to consider a broker regulated by the Australian Securities & Investments Commission (ASIC).

              All of the brokers in our trusted brokers guide are authorized by the ASIC with the exception of Trading 212.

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            • #180241 Reply
              Salvo

                Yes based in Australia, thank you.

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