Introduction
When you are looking for a broker to trade with, there are many things to consider. In this FXSyndicate.org review, we will take a look at the company’s regulation, trading platforms and instruments, as well as the pros and cons of using their services.
What is FXSyndicate.org?
FXSyndicate.org is a foreign exchange (forex) and contracts for difference (CFD) brokerage based in the Seychelles. The company offers its clients the MetaTrader 4 and Sirix web-based trading platforms. It provides leverage of up to 1:500 and claims to offer tight spreads from 0.0 pips on major currency pairs.
The company is owned and operated by FXXY Limited, which is registered with the Financial Services Authority (FSA) of Seychelles. However, it is not regulated by any major financial regulator such as the US Commodity Futures Trading Commission (CFTC), UK Financial Conduct Authority (FCA), or Australian Securities and Investments Commission (ASIC). This lack of regulation means that FXSyndicate.org is not subject to the same stringent rules and regulations as other forex brokers.
The company does not accept clients from the United States, Canada, Belgium, France, or Japan.
Regulatory Oversight
Almost all Forex brokers are regulated and licensed by the government in their respective countries. The regulations enforced by the government bodies provide some degree of protection for the traders, as the brokers are required to adhere to certain standards with regards to their operations. For example, in the United States, Forex brokers must be registered with the National Futures Association (NFA) and must comply with its rules and regulations.
There are also a number of self-regulatory organizations for Forex brokers, such as the Financial Conduct Authority (FCA) in the UK and the Australian Securities and Investments Commission (ASIC). These organizations promote ethical and professional standards among their members, which can give some additional protection to traders.
Pros: Regulations provide some degree of protection for traders.
Cons: Regulations can be stricter in some countries than others, which can limit the broker’s ability to offer certain products or services.
Trading Platforms and Instruments
When it comes to choosing a Forex broker, one of the most important factors to consider is the type of trading platform that they offer. The trading platform is the software that you will use to place orders and execute trades. It is important to make sure that the platform is user-friendly and offers all of the features and tools that you need.
In addition to the trading platform, another important consideration is the type of instruments that are available for trading. Most brokers offer a wide variety of currency pairs, as well as other financial instruments such as commodities, indices, and CFDs. Make sure to check what instruments are available before opening an account.
Pros:
-Offers a variety of different platforms including MetaTrader 4, WebTrader, and mobile apps
-A wide selection of currency pairs and other instruments are available for trading
-Regulated by CySEC
cons:
-Minimum deposit is $500
Pros and Cons
-FXSyndicate is a forex broker that is based in the Marshall Islands and was founded in 2010.
-The company provides its clients with the MetaTrader 4 trading platform and offers a leverage of up to 1:500.
-FXSyndicate is a regulated broker by the Marshall Islands Financial Services Authority (MIFSA) with the license number 695l.
Now let’s move on and see what are the pros and cons of this broker.
Conclusion
FXSyndicate.org is an online broker that offers a variety of features and benefits for its clients. However, there are a few drawbacks to using this broker, such as the lack of regulation and the limited number of trading platforms and instruments available. Overall, FXSyndicate.org is a decent broker that can be a good option for traders who are looking for a simple platform with basic features.