Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

tradelab

Synergy FX Vs. IC Markets : Which is better 'Forex Broker'?

By tradelab, in Beginners Forum

Which broker would you chose?  

5 members have voted

  1. 1. Which broker would you chose?

    • Synergy FX
      2
    • IC Markets
      3
    • Other (Reply in Post with the name)
      0

Recommended Posts

tradelab    10

tradelab
Posted

There are several Forex broker names in Australian Market I always keep hearing about from my friends and people who are into Forex Trading. Out of extensive research and meetings with representatives of these companies I shortlisted - 'Synergy FX' and 'IC Markets'. While both have advantages of their own, which I will list as per my research. I have past experience of forex trading as my tool (But it's always good to help other pro in forex trading to assist you).

 

A quick comparison can be found here - http://www.forexbrokerz.com/ic-markets-vs-synergy-fx-forex-broker-comparison

 

I had a chat/phone call with representatives of both the companies, and apart from the services which all forex brokers offer, I will list only the main features -

 

1. Synergy FX - Negative Balance Protection and the Hybrid Account.

 

2. IC Markets - Narrow Spreads.

 

Though 'IC markets' is established, it still has more unhappy customers - http://www.myfxbook.com/reviews/brokers/ic-markets/175981,1

 

Whereas the Synergy FX is getting popular in my local area with more and more people opting for this, the only reason seems to be the 'Hybrid Account' (http://synergyfx.com.au/synergy-hybrid/)

 

That is just a quick overview, now I will wait for the forum members to reply with past experience from these two companies.

Share this post

Link to post
Share on other sites

greg1    10

greg1
Posted

My experience with Synergy,i lost 5 times my initial balance ,when the swiss dropped - they are now actively seeking payment of this amount and threatening legal action. They are also portraying themselves as the good guys by saying they have a new Hybrid product , as the famous saying from "F" Troop says " Beware of Man with forked tongue". These guys want it both ways, screw the clients, eg: no forgiving of negative balances, don't send out margin call notices, take over 55 minutes to close out trades when stop loss orders are being instigated every millisecond ( when another Aussie broker , got me out in less than 5 minutes???) and then tell the market they have a new product that is the solution to every retail traders dream. Listening to Christians explanation of "Why: this is , is poetry in motion. he should be selling used cars. I cant comment on IC brokers , but i can say that i also had other accounts with Pepperstone and Axi and they got me out with no negative balance, i lost substantially but didn't end up with a negative balance like i did at Synergy. Please now watch for the long long explanation from Synergy about why this is , why they are the good guys , and why every other broker isn't functioning on the real market, like they are - if this happens again having an account with Synergy will not save you , Hybrid or no Hybrid.

Share this post

Link to post
Share on other sites

tradelab    10

tradelab
Posted
My experience with Synergy,i lost 5 times my initial balance ,when the swiss dropped - they are now actively seeking payment of this amount and threatening legal action. They are also portraying themselves as the good guys by saying they have a new Hybrid product , as the famous saying from "F" Troop says " Beware of Man with forked tongue". These guys want it both ways, screw the clients, eg: no forgiving of negative balances, don't send out margin call notices, take over 55 minutes to close out trades when stop loss orders are being instigated every millisecond ( when another Aussie broker , got me out in less than 5 minutes???) and then tell the market they have a new product that is the solution to every retail traders dream. Listening to Christians explanation of "Why: this is , is poetry in motion. he should be selling used cars. I cant comment on IC brokers , but i can say that i also had other accounts with Pepperstone and Axi and they got me out with no negative balance, i lost substantially but didn't end up with a negative balance like i did at Synergy. Please now watch for the long long explanation from Synergy about why this is , why they are the good guys , and why every other broker isn't functioning on the real market, like they are - if this happens again having an account with Synergy will not save you , Hybrid or no Hybrid.

 

Regardless of this I went ahead with Synergy FX. Surprisingly, everything mentioned by you above seems to be false. The support from the Synergy FX team has been tremendous. I am already seeing minor returns on my investment, but I chose a long term plan, so hopefully, it stays the same.

 

Will post when I have more good news, but I am satisfied with their service. :)

Share this post

Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

×
Go To Topic Listing

  • Topics

  • Posts

    • Stocks4life
      Breakout and Swing Stock Ideas

      By Stocks4life · Posted

      $CSCO Cisco Systems stock, nice top of range breakout, from Stocks to Watch at https://stockconsultant.com/?CSCOSEPN Septerna stock watch for a bottom breakout, good upside price gap
    • Stocks4life
      Breakout and Swing Stock Ideas

      By Stocks4life · Posted

      $CSCO Cisco Systems stock, nice top of range breakout, from Stocks to Watch at https://stockconsultant.com/?CSCOSEPN Septerna stock watch for a bottom breakout, good upside price gap
    • Stocks4life
      Breakout and Swing Stock Ideas

      By Stocks4life · Posted

      MNST Monster Beverage stock, top of range breakout above 60.45, from Stocks to Watch at https://stockconsultant.com/?MNST
    • zdo
      AI

      By zdo · Posted

      ...hallucinates.... Student: “What if we gave the monkey LSD?” Guru: “The monkey already did LSD”
    • analyst75
      How did you suspect you have cancer?

      By analyst75 · Posted

      Question: To those that had/have cancer, what were the signs that made you think “something is not right here” to make you go see a doctor? Answer: So, 5/25/2018, I woke up, got ready for work, and as I walked to my car, I started gagging. Like something was stuck in my throat and I needed to clear it. And then it went away.   But 10 minutes after that, I was T-boned at 40mph on the driver side door. But what made me see a doctor was while my muscles felt better and bruises were going away, the gagging still continued, I started having fevers, my neck felt swollen, I was having such a hard time breathing, and I'd have random sharp pains in my chest, but not from where the seat belt saved me.   2 weeks after the accident, I finally see an urgent care doctor, who looks me over, tells me I'm fine, but luckily requests a neck X-ray. And I ask for a chest X-ray, which he rolls his eyes but let me have (most of my pain was in the neck, so I understand).   The very next day, he calls and says “So, that chest X-ray shows there's a 4 inch mass on your heart and lungs, and your lungs have been filling up with fluid, as well as in your pericardial (heart) wall. We need you to come in tomorrow.”   Turns out the big mass, due to the accident, caused my heart and lungs to tear and fill with fluid, the swollen neck and gagging was caused by 2 metastasized tumors, and the fevers and weight loss were symptoms. Stage 4b Hodgkin's Lymphoma.   But thankfully, we went very aggressive with chemo (and had a lot of bad side effects that don't normally happen to patients), and now I'm about 16 months cancer-free. Yay lucky X-rays! Rachel Jurina, Quora Source: https://www.quora.com/To-those-that-had-have-cancer-what-were-the-signs-that-made-you-think-something-is-not-right-here-to-make-you-go-see-a-doctor   Profits from free accurate cryptos signals: https://www.predictmag.com/  
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.

  I accept