When assessing Synth Trade broker, we wanted to find out whether they really meant to give their clients a “simplified” trading platform that embraces ease and accessibility. A video on the homepage says they’re experts in Crypto and financial consultancy.

We are also curious to establish whether this broker is client-centric and willing to help traders invest wisely. This is a promise we find on the same homepage of Synth.trade.

The philosophy of the company is very strict (check “their story” page). They’re purpose-driven, trustworthy and integrious.

Will Synth.trade live up to expectations or fall into the category of scam brokers? Will they demonstrate their strengths? If their pros surpass their cons, then a 4 star rating is in the offing. But if they try something silly, it’s a 1 star right away.

Basic information about Synth.Trade broker

Website	https://synth.trade/
Email	support@synth.trade
Physical address	Oberer Graben 44 .9000 St. Gallen,Switzerland
Phone numbers	+16474792478 Canada: +16474834700 Switzerland: +41797874509 United Kingdom: +44783619792 Luxembourg: +31265549766
License	Not regulated
Tradeable assets	Forex CFDs
Trading platform	Strange WebTerminal
Leverage	Undisclosed

A quick scan of Synth Trade website and the client portal

First of all, the website of this broker seemed suspicious. Our antivirus program flagged it for containing malicious scripts within the code.

From my point of view, this site looks like it’s heavily loaded with unnecessary javascript. You’d need a fast computer and good internet connection to navigate around easily.

Promises of how Synth Trade are the experts make the most part of the landing page. There’s also a brief FAQ section which fails to address most critical questions such as spreads, leverage, bonuses and account types.

Basically, the homepage of this broker fails to do its job as should be. It’s a disappointment since it’s not user-friendly.

Locating the sign-up page is also a hustle. The broker just provided a sign in button at the top, which instinctively doesn’t do much when we’re desperately looking to register. After clicking on it is when we realize that this button also serves as a link to the registration page.

Before we get to the client portal, it takes our full names, email, phone number and password.

Once you provide the required details on the registration form and click “sign up”, the website doesn’t indicate any progress thereafter. It appears to hang a bit before letting you into the client portal.

Vualá….

But now it’s such a disgrace when this is coming from a broker that proclaims to be an expert in providing “simplified trading platform that embraces ease and accessibility“. By all standards, this is far from what is considered “ease and accessibility”. So I give 1 star here.

Inside the client dashboard, we get access to support in form of live chat and we can also upload KYC documents, check trading history, P&L statement among other things.

The live chat is there but dysfunctional. Once clicked and a pop-up comes on, nothing much will be going on apart from a blank tab with no option for inputing text.

Do you see how this is shameful?

A review of Synth.trade trading platform

The WebTerminal is actually not from MetaTrader. It’s a strange trading platform from another Chinese-oriented broker called Mgk International. The link to this broker is https://mgk.global/.

Signing into the WebTerminal was another hustle. After a few minutes of struggle, I managed to get in.

I found just a handful of currencies for trading. No Crypto, Stocks, ETFs, Equities or Commodities.

The web interface was uninspiring. Even though am not a fan of TradingView, I’d say TradingView is much better than this so-called WebTerminal.

Account types, fees, commission, spreads and bonuses

The FAQ section implies that Synth Trade is offering multiple account options. This can be found where they address the issue of fees and commission.

However, when I signed up, I was not able to choose any account type. I was taken to a standard account.

I was not told what the minimum deposit is, what fees, commission or spreads I would pay. The broker is currently not offering bonuses either.

Deposits and withdrawals

Synth Trade does mention that they accept debit and credit cards, bank transfers, e-wallet and Cryptocurrencies. However, when I signed up the deposit button was not working. It seems the website is still under development. But even if this was the case, why is the broker in business when things are not setup just yet?

Is Synth.Trade a scam broker?

We believe that this broker is a scam. We look at its affiliation with MGK International to make this conclusion. In addition to this, we mentioned the website having been flagged by our antivirus. Last but not least, the broker lacks transparency. The team behind Synth Trade is just a bunch of stolen photos from the internet. How could we possibly conclude that this is a legit broker?

For instance, the picture of the “Senior Analyst” was stolen from a Russian stock photo marketplace https://mefart.ru/business-portrait.

The above image file is from the broker’s website. For purposes of copyright, we’ll not include the picture that we found on Google in this review. However, you can confirm this by pointing at the picture of Trisan Rivera with your mouse, right-clicking and selecting “Search image with Google”.

Now, the “job listings” page is a lorem ipsum. This is demo content that is bundled in any premium website theme. Developers put the text there for demonstration purposes. Your job is to change the text to suit your purpose.

Now, if you can understand the language of Lorem Ipsum, please apply for that job.

How the licensing status of this broker is affecting you

This broker is fooling us big time. Synth Trade is not a licensed MetaQuotes partner. They’re obviously whitelabeling from MGK International which is a very controversial broker.

At this point, we would need to discuss the licensing status of MGK.global — the whitelabel services provider of Synth Trade.

So there we go. The license of the whitelabel service provider of Synth Trade is a clone. This automatically puts both brokers in a compromising situation.

Financial regulators across the world keep warning investors against using unlicensed brokers. They say that these brokers may be a scam because their activities are not supervised by a government body.

Nothing can be far from the truth.

The Pros and the Cons

Summary of this Synth Trade broker review

When things have been said like this, the ending is a sad one. The broker doesn’t meet the standards that traders would like to enjoy. It’s a nightmare to navigate the website and the client portal is an embarrassment. Synth Trade has left out a lot of important information, plus they’ve failed to explain why they are not licensed.

Clearly this is a scam. If you have a minute, share your opinion in the comment section and thank you for reading.