Sync Markets
Pros and Cons
Pros
- Diverse trading instruments including forex, commodities, indices, stocks, and cryptocurrencies
- Access to popular trading platforms: MetaTrader 4 and MetaTrader 5
- Competitive trading conditions with low spreads
- Multiple account types catering to different trader profiles
- Customer support available through various channels during business hours
Cons
- Not regulated by any recognized financial authority
- Potential risks associated with trading with an unregulated broker
- Limited educational resources for traders
- Withdrawal issues reported by users
- High spreads on certain trading instruments
Basic Information
User Reviews
Sync Markets Overview
Sync Markets is a forex broker that operates under the full name Sync Markets LTD., based in Saint Lucia. Established for a period of 1-2 years, this broker offers a range of trading services primarily in the forex market. While the broker is located in a popular offshore region, it is important to note that it lacks regulation from recognized financial authorities, which may raise concerns for potential traders seeking a regulated trading environment. The absence of regulatory oversight can pose additional risks, and traders should exercise caution and conduct thorough research before engaging with the broker.
The core offerings of Sync Markets include various trading instruments such as forex, commodities, and indices. The broker provides access to trading platforms like MetaTrader 4 and MetaTrader 5, which are well-regarded for their advanced features and user-friendly interfaces. Customer support is available during business hours, offering assistance through various channels. Despite the absence of regulatory backing, Sync Markets claims to differentiate itself through competitive trading conditions, which may include attractive spreads and leveraging options. However, potential clients are advised to carefully evaluate the risks associated with trading with an unregulated broker.
Is Sync Markets Safe? Regulation Analysis
Regulatory Information
Sync Markets is not regulated by any recognized financial authority. This lack of regulation raises potential risks for traders, as they may not benefit from the investor protections typically offered by regulated brokers. Engaging with an unregulated broker like Sync Markets could expose clients to higher risks, including a lack of oversight and increased potential for fraud. Therefore, traders should exercise caution and thoroughly consider these risks when deciding to trade with this broker.
Is Sync Markets Regulated and How Are Client Funds Protected?
Trading Products and Services
What Trading Instruments Does Sync Markets Offer?
| Asset Category | Available Products | Total Count (if available) |
|---|---|---|
| Forex | Major Pairs / Examples | Many |
| Commodities | Gold, Oil | Varies |
| Indices | S&P 500, NASDAQ | Varies |
| Stocks | US, UK | Varies |
| Cryptocurrencies | BTC, ETH | Varies |
Sync Markets provides a diverse array of trading instruments that cater to different trader profiles, including forex, commodities, indices, stocks, and cryptocurrencies. This variety allows traders, whether they are beginners or professionals, to devise flexible trading strategies and engage in portfolio diversification. By supporting multiple asset categories, Sync Markets enhances the trading experience, enabling users to adapt their approaches based on market conditions and personal investment goals. This comprehensive selection of products underscores the broker’s commitment to meeting the varied needs of today’s traders in the ever-evolving financial landscape.
Account Types and Trading Conditions
What Account Types and Fees Does Sync Markets Offer?
| Account Type | Target User Group | Essential Characteristics | Applicability Notes |
|---|---|---|---|
| Standard Account | Beginners | Low spreads, user-friendly interface | Suitable for small-capital practice |
| Premium Account | Experienced traders | Enhanced trading conditions, advanced features | Requires higher trading volume qualifications |
| Pro Account | Professional traders | Lowest spreads, high leverage | Best for high-frequency trading |
| Demo Account | New traders | Practice trading environment | Ideal for testing strategies without risk |
Account Opening Process
To open an account with Sync Markets, traders need to follow a series of steps. Initially, they must submit personal information, including their name, address, and contact details. Following this, employment and financial information will be required to better understand the trader’s background and trading experience. Identity verification is a crucial step, necessitating the submission of identification documents and proof of address. Additionally, Sync Markets offers account flexibility, allowing clients to upgrade to a professional account as their trading experience and volume evolve.
Trading Fees
| Product | Spread (pips) | Commission | Notes |
|---|---|---|---|
| Forex (Major Pairs) | 0.8 | $0 | Tight spreads for major pairs |
| Forex (Minor Pairs) | 1.2 | $0 | Wider spreads for minor pairs |
| CFDs (Indices) | 1.5 | $0 | Competitive rates on stock indices |
| CFDs (Commodities) | 2.0 | $0 | Includes gold and oil |
| Cryptocurrencies | 1.0% | 0.1% | Variable depending on market conditions |
Other Fees
Traders should be aware of several additional costs when trading with Sync Markets. These may include deposit and withdrawal fees, which could vary depending on the payment method chosen. Inactivity fees may apply if an account is dormant for an extended period. There are also platform usage fees that could be incurred depending on the services utilized. Overnight interest, known as swap rates, may be applicable for positions held overnight, and currency conversion fees could apply when trading in different currencies.
Trading Platforms and Apps
What Trading Platforms and Apps Does Sync Markets Offer for Traders?
| Platform | Device Support | Key Features | Additional Services |
|---|---|---|---|
| MetaTrader 4 | Windows, macOS, iOS, Android | 2FA, symbol lookup, multiple order types, price alerts, technical indicators | Demo accounts, VPS |
| MetaTrader 5 | Windows, macOS, iOS, Android | Encryption, market watch, one-click trading, push notifications, economic calendar | Demo accounts, VPS, API interfaces |
| Web Version | Any device with a web browser | Secure login, market search, order management, real-time alerts | Demo accounts |
Sync Markets provides a range of trading platforms catering to different trader preferences. MetaTrader 4 is suitable for beginners due to its user-friendly interface, while MetaTrader 5 offers advanced features that appeal to more experienced traders. The web version allows for flexible access on any device with internet capability, ensuring traders can monitor their investments and execute trades conveniently. All platforms emphasize secure login methods, fast order execution, and effective market search tools, enhancing the overall trading experience.
Deposit and Withdrawal
Deposit and Withdrawal Options
| Payment Method | Processing Time | Fees | Limits | Base Currency Options |
|---|---|---|---|---|
| Bank Transfer | 3–5 days | No platform fee | Min $100, Max $10,000/day | USD, EUR |
| Credit/Debit Card | Instant | No platform fee | Min $50, Max $5,000/transaction | USD |
| e-Wallets (e.g., Skrill, Neteller) | Instant | 1.5% charge | Min $20, Max $10,000/day | USD, EUR |
| Cryptocurrency (BTC, ETH) | Instant | No platform fee | Min $50, Max $20,000/day | USD |
Minimum Deposit
The minimum deposit requirement with Sync Markets is $50. This amount remains consistent across various payment methods and account types, providing straightforward access for all traders.
How to Withdraw
To withdraw funds from your Sync Markets account, follow these steps:
- Log into your Sync Markets account.
- Navigate to the ‘Withdrawal’ section in your account dashboard.
- Select your preferred payment method for withdrawal.
- Enter the withdrawal amount, ensuring it meets the minimum and maximum limits.
- Provide any necessary verification information if prompted.
- Submit your withdrawal request and wait for processing according to the chosen method’s time frame.
Customer Support
Sync Markets Customer Support Overview
Support Channels
Sync Markets provides several channels for customer support to ensure traders can receive assistance efficiently. These include:
- Email: Traders can reach out to the support team via email at support@sync-fx.com for inquiries and assistance.
- Telephone: Customers can contact Sync Markets at +44 2080404105 for immediate support.
- Live Chat: Available on the website, facilitating quick communication.
- Social Media: The broker maintains a presence on various social media platforms for additional support and updates.
Service Availability
Sync Markets offers customer support during business hours, ensuring that traders can receive help when needed. The support services are available in English, catering to a diverse clientele. While the exact hours of operation are not specified, clients can generally expect timely assistance during standard trading hours.
Frequently Asked Questions
Sync Markets is not regulated by any recognized financial authority. This lack of regulation raises potential risks for traders, as they may not benefit from the investor protections typically offered by regulated brokers.
Sync Markets offers a diverse array of trading instruments including forex, commodities, indices, stocks, and cryptocurrencies. This variety allows traders to engage in different asset classes and develop flexible trading strategies.
Sync Markets has various fees depending on the trading instruments. For example, the spreads for major forex pairs start at 0.8 pips, with no commission on trades. Traders should also be aware of potential deposit and withdrawal fees, inactivity fees, and overnight interest charges on positions held overnight.
Customers can reach Sync Markets’ support team through several channels including email at support@sync-fx.com, telephone at +44 2080404105, and live chat available on their website. Support is provided during business hours.
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Risk Disclosure
Trading forex/CFDs via brokers carries high risks, including potential total loss. For any data changes, please refer to the latest information on the brokers' official websites. Trade with caution and seek independent advice.