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Showing posts with label ForexBrokersReviews. Show all posts
Showing posts with label ForexBrokersReviews. Show all posts

Forexyard

Posted by admin On 7:58 AM 0 comments

Special for Daily Forex Users

Open an account with Forexyard and get a 100% cashback on your deposits, worth up to $300.

Click Here to register

ForexYard is a retail forex broker that was established in 2004 and based in Cyprus.  They offer a dealing desk brokerage, meaning they take the other side of your trades.  Twenty-seven different currency pairs are offered as well as 3 commodities:  gold, silver, and oil, plus stock indices.  ForexYard offers very competitive fixed spreads.  With the option of a web-based or downloaded trade platform, good customer service, flexible margin trading, and some additional features not offered at other retail brokers, this broker is recommended for experienced and especially beginning traders in the forex markets.

The ForexYard website is easy to understand and navigate and opening a demo or live account is fairly quick and easy.  They accept major credit cards or bank wire transfers for depositing into live accounts, as well as Western Union Money Transfers.  Credit card deposits are immediate to start trading live, while wire transfers can take up to 3 days to process.  They also offer a free trading course upon registration that is actually pretty good and goes over the basics of trading the forex market.  Beyond the free course ForexYard also features several well-written tutorials for their trading platform and also for explaining several commonly used technical indicators.

Live accounts with ForexYard can be as small as $100.  They feature either a super mini account (for accounts smaller than $1000) or standard account.  The ability to trade the commodities (gold, oil, silver) can only be permitted with standard size accounts.  The super mini account is ideal for a beginning trader to put the minimum amount of risk on but still get the feel and practice of trading a live account.  Also, with standard size accounts there are no fees associated, but with the smaller trade account there is a $25 fee for all withdrawals.  Withdrawals require a form to be filled out and faxed along with proof of account holder and address.  Withdrawals can be processed by sending to your credit card that was used to fund the account, or by wire transfer to your bank.  Process time is questionable:  the website states that “withdrawal process time will take no less than 3 days” but does not state a maximum time for processing.  Also, ForexYard is very strict about now allowing scalping trades.

The ForexYard trade platform is easy to use and somewhat customizable.  The tutorials offered on their website along with the help section on the platform itself is very helpful for quickly getting started trading.  They do not offer any feed for Metatrader4 or eSignal charts.  But trading with their proprietary platform and charts is fine for intraday or swing trading.  They offer all the usual order types including trailing stops.

ForexYard customer service is pretty good.  They can be contacted via telephone, email, or live chat on the website.  The live chat responded immediately, while email response took 1 day.  The only aspects to this broker that are questionable are that the terms and conditions are vague about profit withdrawal and about their ability to withhold your profits.  The bank guaranteeing their accounts was not disclosed during this review process.  ForexYard is not regulated by the NFA or other organization.

**Currently ForexYard is offering to credit $300 to a live trade account for super mini accounts, or $1000 for standard accounts as long as a minimum of $1000 is deposited.

http://www.dailyforex.com/Forexyard/Forexyard-review/3

Marketiva

Posted by admin On 7:58 AM 0 comments

Marketiva has established itself as an industry leader thanks to its advanced trading platform and its highly recommended customer service. Marketiva state they have “more than 260,000 serviced users, 150,000 unique and live trading accounts, and more than 2.7 million live orders executed each month”.

No minimum deposits are required to open an account with Marketiva. Actually, when you first log in, your account is already charged with $2.5 in real money, and $100,000 virtual money. The same account and platform are used for practice money and for the real money, so only a click of a button is needed to determine which funds you wish to use. Best of all, a $5 reward is given for opening a new account and depositing only $1. Marketiva’s rates are between 2-4 pips for the major pairs, offering less than 20 pairs all together. The leverage they offer is of 1:100, allowing a minimum trade unit of 1 lot! In addition to FOREX trading, Marketiva also allows trading funds, offering a list of 7 funds to choose from.

The process of opening up a Marketiva account is quick and easy.  Registration process is simple, and requires only minimal details for opening the account. No further procedures were required for downloading the software, which is also a quick and easy process.

Streamster, Marketiva’s software, is known for its ease of use and flexibility. It has a high-tech look & feel, yet it is simple and intuitive enough for a beginner to understand.  The software includes advanced charting tools, which are fully customizable, and enable opening positions right from the charts themselves.

Accounts can be managed through the “Account Center” on Marketiva’s website, so it is not necessary to actually be logged into the Streamster download software, to follow account balance, open positions and trades.

Deposit and withdrawal processes are executed through the web “Account Center”, and are clear and easy to follow through.

To make a deposit, the following payment methods are available on Marketiva: Wire transfer, E-Gold, E-Bullion, E-Diner and Web Money. No fees are charged for deposits, however, these payment methods do accrue charges for withdrawals.

The fee for withdrawing by wire transfer is $14.00, while for all the rest it is $7.00 and only for the first withdraw.

Around the clock customer support is available from professionals with any questions that may arise, technical as well as trade related.  Marketiva’s support standard is regarded by users as one of the highest in this field. This is despite the fact that support is provided mainly via email, and through the public chat-room, open be read by all clients.

A multitude of additional services and resources are offered the trader.  A section of FAQs, dealing with general issues of trade in the FOREX market, as well as specific questions about operating their software, is available on the website. The answers cover lots of ground, although not in the most enticing way.

Market news and alerts are provided from within the system, to aid traders with their decision making processes.

Instrument Profiles are also provided. These profiles contain detailed information categorized in several sections, allowing the trader to make a better decision on which instrument to trade.

Marketiva enables clients to chat online with other traders, so they can discuss market events and trends, and exchange ideas and tips.

To further enhance the community atmosphere, Marketiva runs Marketiva Masters Tournaments. Marketiva posts a list of traders who made the most profits during the last month and during the previous year. The #1 earner is named Marketiva Master of the month or year.

The user-friendly software, high quality support, advanced community tools and low risk requirements, all make Marketiva very attractive for a newcomer to the FOREX market.




http://www.dailyforex.com/Marketiva/Marketiva-review/28

10Pips

Posted by admin On 7:58 AM 0 comments

10pips is a broker that deals with multiple markets including Forex, commodities, stocks, equity indices, and more. Their website is user friendly, easy to navigate, and is a clear indication of what you will get when you begin trading. While I could not help but notice that some basic information one searches for on a broker's site was missing, everything became very clear once I downloaded the 10Pips platform and began to trade.

When it comes to registering and depositing money with 10pips, the process is relatively easy with a lot of different options, such as all major credit cards, and bank transfer. They offer their services in 11 different languages and their trading platform in 26, so no matter where you are in the world, you will be able to trade with 10pips.

They offer an advanced downloadable trading platform, and offer a tutorial with a few screen shots accompanied by a brief explanation on how to use the platform. Not exactly a state of the art learning experience, but better than nothing. Their platform supports the various market standards in functionality including Entry Limit, Trailing Stop, Stop Losses, Take Profits, immediate transactions, and more.

10pips offers their customers a free demo trading account, and they claim that you will be up and running within five minutes, something that was not too far off from the truth. One of the unique and extremely useful features offered by 10Pips is the ability to deposit and withdraw money directly from the trading platform with no need for faxes, web forms, or 3rd party services to get your money.

You can also start trading with a minimum deposit of $100 and a 200:1 leverage. Their platform does offer an advanced charting solution in real time to accompany your trading, a blessed initiative, and something other brokers should implement as well.

Other advantages of 10pips is their no commission guarantee, no dealing commission, no withdrawal commission, and no rollover commission, not a bad start. 10Pips also makes it very clear to their customers that they offer 24 hour customer support, but the very standard chat feature that is offered by almost all brokers is unavailable with 10pips, and as of now, I have not received an email back from their representative. The truth be told, with such an easy trading experience, there really is no reason to contact 10Pips, but I would not mind having the option to contact them.

10pips.com is based in Belize and their primary audience according to them is the UK, US, European and Asian markets. Information about the company such as when they were established is also missing, and as I mentioned, was not yet answered by their customer support.

10pips offers some trading bonuses as well, such as a $20 welcome bonus with no deposit required and a 30% bonus on a first deposit. They offer their traders competitive spreads and many different local solutions.

10pips seems to be targeting traders who want an all in one solution for the various markets. It is true that 10pips offers support for many different markets, and besides the missing support features, I found 10Pips to be a very competitive all around broker.




http://www.dailyforex.com/10Pips/10Pips-review/450

FXPrimus

Posted by admin On 7:58 AM 0 comments

FXPrimus is a new force in the Forex industry and based on our FXPrimus review, it is a force to be reckoned with. They offer their customers the industry standard Meta Trader 4 platform with the ability to trade both from your home computer as well as your smartphone, a feature not yet adopted by many Forex brokers.

The registration, deposit, and withdrawal processes with FXPrimus are all relatively simple and straightforward with support for money bookers and the major credit cards. One of the unique characteristics of FXPrimus as opposed to many other Forex brokers is the fact that there is no dealing desk and therefore FXPrimus does not trade against you. They offer straight forward processing, which basically allows the trader to be treated as if they were an institutional bank and not a retail trader. This means a much more leveled playing ground for the trader, and leaves the trader in a better place knowing that the broker is being up front with them.

FXPrimus offers its traders many different options in terms of trading accounts including micro, mini, and standard accounts, allowing traders to open an account with as little as $250. However, while that is a relatively minimal initial investment, FXPrimus' 500 to 1 leverage allows traders to trade with very high volume.

The execution of FXPrimus' trading platform is also top notch with close to no slippage under normal market volatility. This broker works in conjunction with various tier one banks enabling the best quotes the market has to offer.

FXPrimus did not stop at Forex and they also support metals, CFDs, and Forex options allowing traders to add some variety to their trading portfolio, not to mention the ability to scalp your various instruments.

Trading with FXPrimus, you will also enjoy extremely low spreads such as 2 pips for the major currencies. The list continues with support for Islamic accounts, audits by Ernst & Young, as well as full FSC regulation.

However, as usual, there are some down sides to FXPrimus. For starters, they claim to have 24 hour support by email, phone, and chat. However, after a few checks I conducted, their chat support is far from available 24 hours a day, in fact, the site said it was offline for the majority of the time I was conducting this review. Their email support was also not responsive enough by my tests.

In addition, their website, which is the first impression a trader gets and should therefore be easy to use, was far from it. Much information I searched for was missing from the site, such as payment options and others, not to mention that the site as a whole is poorly organized and written.

However, as important as an organized website is, what is more significant when choosing a broker is their trading features, and FXPrimus impressed me on that front. They seemed to have thought about everything and gave me the confidence to trust them as a dependable broker. Between their audits, their regulation, and their generally competitive offering, I would recommend this broker to any FX trader.


http://www.dailyforex.com/FXPrimus/FXPrimus-review/454

askObid

Posted by admin On 7:58 AM 0 comments

askObid is a new Forex broker that puts a strong emphasis on user experience. Their site is highly innovative and designed to perfection with all the information a trader would need available to them. AskObid is a feature-packed broker both in terms of their trading features as well as their overall offering.

AskObid's main attraction that separates them from the majority of brokers is their customizable, easy to use, Web-based trading platform. What this means to the trader is easy and flexible access to their trading environment from any Web-enabled computer anywhere in the world.

AskObid claims to recognize the importance of Forex knowledge, which is clearly an accurate statement if I am judging by the amount of resources invested in their Academy section. They offer traders a very informative and thorough education center, which would come in handy to new traders just getting started in Forex.

While I found the information there to be very useful, there were multiple sections in the Academy part of the site that were incomplete or empty, but being a new broker, it is understandable that the site is a work in progress.

AskObid is regulated by the Cyprus Securities Exchange commission and also complies with the MiFID.

In terms of askObid's advantages, the available payment methods are more flexible than any other Forex service I have encountered. The methods include all credit cards, debit cards, and more than twenty other possibilities. In terms of withdrawing funds, askObid makes it very easy to get paid. All you need to do is click Withdraw in the platform and choose one of over twenty payment methods.

AskObid offers the standard 21 day free demo account, which is of course something every trader should take advantage of. The demo account has no limitations and it will enable you to get to know the trading environment as well as your own trading strategy.

The trader can also choose from one of three trading account types depending on trading style and available capital. The options are Silver, Gold or Platinum. The account types differ on various factors such as maximum deposit, spreads, personal trainers, access to webinars, mobile alerts, referral awards, and more.

In terms of the bonuses offered by askObid, they differ based on your trading account. For the Silver account, there is a 10% award on up to a $1,000 deposit. For the Gold account, there is a 15% award on up to a $15,000 deposit, and the Platinum account has a 30% award up to $30,000.

As you can see, askObid is a very impressive broker, but their most impressive feature is definitely their trading platform, which enables you to trade all the majors as well as gold and silver. In the platform, you can see what others are trading, enable one click trades, as well as completely customize the interface of the trading environment.

Once you open a new position, it is listed in your open positions, at which point you can add stop losses or take profits. The one thing I did not like so much was the defined 200:1 leverage, which cannot be adjusted.

In general, the platform is one of the most intuitive interfaces I have ever used. It is very user friendly and does not take long to master.

Additionally, askObid has great customer service in my tests with a highly responsive chat feature that I found to be very helpful and professional. They also have an online form to send them an email or the option to have one of their representatives call you back, all options I found to be effective and timely.

There really is a lot more to be said about askObid's service, such as their trading tools including market analysis and reviews, as well as their advanced financial calendar, but to sum it all up, askObid is a serious contender in the Forex market and one that with minimal work can become a leading force in this multi billion dollar industry.


http://www.dailyforex.com/askObid/askObid-review/537

FOREX

Posted by admin On 7:58 AM 0 comments

If you’re looking for a reputable Forex broker and the ability to trade over 50 currency pairs, Forex.com may be just the broker you’re looking for. Forex.com is operated by Gain Capital, a financial services company that’s been in business since 1999, and even a cursory look at Forex.com will confirm that this online trading website was developed by industry veterans. Read this full Forex.com review to determine if this is the broker you’ve been looking for.

General Information

Founded in: 1999

Headquarters: New Jersey, USA

Maximum leverage: 50:1

Minimum deposit: $500

Minimum lot size: 10,000 for a mini account, 1,000 for a MetaTrader4 account

Languages available: English, Chinese, Russian, Arabic

Regulation: NFA



Email from Forex.com (Click on image to enlarge)

Ease of Use

Throughout our tests of Forex.com we were continually impressed by the intuitive design of the company’s website and its trading platforms. Specifically useful is that unlike some other Forex brokers, Forex.com keeps its contact information obvious and accessible in both the trading platforms and the website, so that traders with questions can get live help instantly.

There were several notable conveniences that Forex.com offered during the registration processes. When we opened a demo account, we were pleased to see that we were automatically logged in, instead of having to receive a username and obscure password via email as other brokers required. When opening a live account, we were exceptionally impressed to see that all necessary tax forms were not only presented during signup, but were required during the process. On the whole, the registration process was entirely straightforward and, as promised by Forex.com on the start page, it did take only about 10 minutes.

The biggest problem that we had during our Forex.com review was figuring out how to switch between the different platforms, or rather, to download the FOREXTrader PRO platform once we’d logged into the web-based platform. A quick chat with the customer service team solved this problem. Another small inconvenience that we encountered was that when using the site’s search feature, you can’t simply enter your query and press enter – you must click on the ‘search’ button. Needless to say, this quirk is hardly a reason to reject Forex.com. Rather, it’s clear from our lack of serious criticisms that Forex.com is extremely comfortable to use in all regards.


http://www.dailyforex.com/FOREX/FOREX-review/29

MIG Bank

Posted by admin On 7:58 AM 0 comments

MIG Investments is a fully regulated online Swiss broker providing you with real-time access to the Foreign Exchange and Bullion markets. Their goal is to provide the best service on the market and they believe that their MT4 based MIG Trading Station will make them the number one online broker of FOREX traders in the world.

Their platform is available in 21 languages. It is fairly easy to grasp and use, there is a solid help guide, and you can download the program and setup a Free Demo Account that presents you with an opportunity to familiarize yourself with the trading platform and experience real market conditions.  The demo server runs a bit slow and your demo account will expire within 30 days so it’s important to save your trade history to your computer since all data is lost on expiration.

The platform constantly updates real-time prices with real-time charts and you have the ability to use the most popular indicators. There is a daily account statement and a real-time summary of client orders, your account equity and floating profit and losses. Headlines are pulled from the Dow Jones Newswires and plugged directly into the system. You can use the Expert Advisor to program your own trading strategies on the demo account. The Expert Advisor feature is also available for real accounts upon written request. The same applies for the Trailing Stop feature.

Some users may be bothered by the fact that the sign up process and access to certain features aren’t very Internet friendly. Opening up an account requires downloading account forms online, filling out and signing the documents, providing a notified copy of your passport for individual accounts and a copy of a utility bill for proof of residence, and then mailing the packet to Switzerland. The passport could be substituted by any official document with your photo and signature for those of you who aren’t international travelers!

Faxed or scanned/e-mailed copies are not acceptable! Your documents must be mailed to Switzerland. This is due to MIG’s Swiss regulation. Swiss authorities have anti money laundering laws that prevent money laundering.  MIG Investments are also not permitted to accept credit card payments or third party transfers – all funds must be wired from an account carrying your name.  Measures like this are done for your security and to maintain the integrity and standing of Swiss financial institutions.

Once the application is received the set-up time varies. Standard individual accounts can typically be set-up within two days while professional and institutional accounts can take up to one week. A minimum deposit of $2,000 U.S. is needed to open up the Standard Account. A Professional Account can be opened with $100,000 U.S.

Despite the simplicity of the system, the free indicators, etc. there are still some issues that need to be mentioned. One specific problem area for MIG Investments is the number of requotes. Users have complained about having to requote the price several times. MIG blames this on clients attempting to take advantage of a wrong price quote in the Market Watch.  Skeptical users believe that if the price is on your side – you get requoted.  Between the requote after requote, the delays and disconnects, it becomes difficult to get an honest price when the market is moving and there is some question as to what open position price you are getting, the old or new. 

Customer service are quick to respond to calls and emails with multilingual reps to help you regardless of the language barriers.

Overall, this is a state of the art MT4 based broker with many features like tight spreads, a smooth withdrawal process and friendly customer service.  If you begin experiencing problems with requotes, delays or disconnects, contact the customer service team and see if it can be worked through.


http://www.dailyforex.com/MIG-Bank/MIG-Bank-review/30

Crown FOREX

Posted by admin On 7:58 AM 0 comments

Crown FOREX S.A. (CFSA) is a FOREX trading platform based in Switzerland.  The firm offers many different features and solutions, but is probably best suited to advanced and experienced traders.  While it does not provide much education to budding or inexperienced traders, CFSA does include provisions to limit risks, and a demo account for training purposes.  CFSA strongly recommends that potential customers develop experience with the demo account before beginning live trading.

CFSA allows trading on 13 currency pairs and some precious metals.  The pairs are defined as seven majors and six crosses – the majors being EUR/USD, GBP/USD, AUD/USD, USD/JPY, USD/CHF, USD/CAD, and NZD/USD.  Note that these are not the “major” pairs as defined by some other brokers; notably, other broker offers additional pairs, with one component being CHF, as majors.  However, all major pairs have one pip spreads on the CFSA platform.

All of the cross pairs (EUR/CHF, EUR/AUD, EUR/GBP, EUR/JPY, GBP/JPY, GBP/CHF) have much higher spreads ranging from 5 to 10 pips.  This makes Crown FOREX S.A. a less desirable trading platform for trades in those cross pairs.

The overall CFSA site is complex and is definitely intended for the more advanced trader.  Clients shouldn’t expect much basic education.  In addition, the language used is confusing and indicates that the CFSA site may have been written by someone who was less than perfectly fluent in English.

The home page focuses on economic news, with headlines on the upper right for currency news and economic news.  A user can click on any headline to see the specific news story.

To open an account, download the customer trading agreement and fill it out; then send it to CFSA in Switzerland with a notarized copy of a valid ID (typically a passport or government-issued ID).  Once the CFSA staff approves the agreement, you can forward funds to your account and get started.  The minimum amount to open an account is $300 USD.

While waiting for approval of the live account, it makes sense to begin working with the demo account.  To open a demo account, download the trading station terminal software from the Crown FOREX S.A. web site.  When you do this, the site says you will be asked to provide account information such as name and address via a setup page.  However, I was not asked to do this.

In addition, the site has a location to download a user guide; the user guide, however, is not available from that location (a note says the guide is being updated).  Instead, the user guide appears as the help file to the trading station software.  There is also a link through the help file to the on-line MQL4 terminal community, which includes many users of and developers of MQL4.  This is a great educational resource.

CFSA executes all trades on-line and will not execute a trade by phone except in emergency conditions – these are not defined on the site.

The minimum transaction size is 1 lot, or 10,000 units of the base currency.

You execute trades directly through the trading terminal software installed on your site.  The trading terminal is quite powerful and offers a wide variety of information and tools.  These include many charts and indicators, including some that will be confusing for many FOREX traders (but can be easily researched on-line through other sites).  Through the online platform, you can execute trades directly from real-time streaming bid/ask quotes. Live prices are continuously updated.

To execute a deal, click the New Order button on the trading station and follow simple instructions.

Executing a deal via the Internet is a simple, two-step process. Simply enter the number of lots and then click on the bid (buy) or offer (sell) for the currency pair you wish to trade - your deal is automatically executed. The dealing software automatically calculates the initial margin requirement based upon the notional amount of the deal, and if sufficient funds are available in your account, will accept the transaction. Deals are confirmed online, normally within one second, and the system instantaneously updates both your open position and calculates your current floating profit and loss.

You can perform any of the following types of orders:

•  Market Order

An order based on a current market price.

•  Pending Order

A commitment to buy or sell at a pre-determined price in the future.  There are different kinds of pending orders: buy limits, in which the current price is higher than the price offered; buy stops, in which the current price is lower (but the trader expects that the price will not only rise to the price offered, but will keep rising); sell limits, where the current price is lower than the price offered; and sell stops, where the current price is higher, but the trader expects that the price will drop to the price offered and keep dropping.

•  Stop Loss Order

An order to automatically close a trade if the security price moves in the wrong direction.  Stop loss orders close if the price reaches a certain level set by the trader.

•  Take Profit Order

An order to automatically close a trade if the security price moves in the right (profitable) direction.  This is the opposite of a Stop Loss order in that both are automatic closings, but the Take Profit occurs when the trader has earned sufficient profit.

The Crown FOREX S.A. trading platform is available in many languages, and the web site is in Arabic and English.


http://www.dailyforex.com/Crown-FOREX/Crown-FOREX-review/31

InterBankFX

Posted by admin On 7:57 AM 0 comments

InterbankFX provides:

A Sophisticated Charting Program;

Real-Time News;

Phone, Online and Email Customer Support For Customers;

Extensive Educational Resources.

Opening an account with InterbankFX is easy and requires scanning two forms of ID to upload. Once you upload the information, along with your application, you receive an email with further instructions on how to fund your account. The minimum margin deposit for funding new accounts is $2,500 for Standard Accounts and $250 for Mini Accounts. However before you commit any money, you can access a free trial program to try the site and all its features with $10,000 to $100,000 virtual.

InterbankFX services include:


Two trading platforms, a downloadable client and a platform for wireless mobile devices;

The ability to trade 12 major currency pairs;

Spreads of 2-5 pips;

Customizable, easy to use, charting tools;

User-friendly environment;

News & Commentary.

The site offers support in 17 languages, and includes several video tutorials to help you use the trading platform. Emails are answered within 48 hours, and live help is available 24 hours a day. In addition, the site includes a user forum through which traders can exchange tips and advice. However, the links on the user forum that are supposed to direct readers to their account and other sites do not work.

Interbankfx offers an abundance of training materials including short videos, webinars four days a week, and the IBFXU Forex education site, which includes audio and video lessons, guest writers, quizzes, and more.

InterbankFX
offers one of the only platforms in the world that has automated trading capabilities, called Expert Advisors. An Expert Advisor is an automated trading system (ATS) written in the MetaQuotes Language II (MQL II) and linked to a particular chart. That Expert Advisor notifies you of trading opportunities and executes trades on your trading account, sending them through to the trading server. Expert Advisors will also let you test your strategies on historical data, and will plot entry/exit points on the chart. You can also write your own Expert Advisor, and if you need help, you can visit the Expert Advisor Help Section.

The experience of getting to know the broker through the web site does not provide enough data to be able to actually chose this broker or understand what you are getting into signing up and opening an account with them. This site seems incomplete and not nearly as comprehensive as some others. However, should a user choose to open an account with InterbankFX he will enjoy a user-friendly FOREX trading environment, and receive timely and effective customer support.




http://www.dailyforex.com/InterBankFX/InterBankFX-review/16

Synthesis Bank

Posted by admin On 7:57 AM 1 comments

Following the announcement made in September 2008, the Swiss and Danish banking authorities have given the necessary authorisations for the acquisition of Synthesis Bank by Saxo Bank.

Synthesis Bank specializes in different types of trading, one of which is FOREX. This would be helpful for those interested in various types of trading or investing as they could keep their accounts in one place. However, the company and web site appear to spend much less time and effort on FOREX than on other investing areas, such as stocks and futures.

You can open an account online, through the mail, or via telephone. However, with all three methods, you must still send certain documents, including copies of your passport and proof of residency, to Synthesis in Switzerland via regular mail – different than many other sites. The bank takes deposits via wire transfer or foreign currency, free of charge.

While there is a free demo account, it’s good for only 20 days, not 30 like many other sites. It’s easy to sign up – just fill in your contact information and the site immediately sends an email to your account. The demo account is extremely helpful in showing you how the Synthesis Bank system works and to help you become familiar with the trading environment. The company does call you to help you convert to a permanent account if you so choose.

If you have trouble, help is available via 24-hour live chat and through email. This reviewer tested the email system twice, and both times, had a response within a couple of hours. The website is active in five languages, but the platform is download only.

To help educate investors, Synthesis Bank holds a series of free “Trading Bar” workshops in Switzerland. The company also offers free daily emails with trading information and analysis.

PIPS range from 2 points for major currencies to 4 for some others.

While this site does include much important information, there appears to be some important information missing, such as withdrawal information and fees.

The company caters to four different types of investors:

• Private clients

• Institutional investors

• Asset Managers

• Business partners with client networks




http://www.dailyforex.com/Synthesis-Bank/Synthesis-Bank-review/37

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