Synthesisbank.com Review

in addition to max saying one example of how they do their business in s/l hunting:
today, 25.10.2007 @ 19:23 the german dax had one gap (spike) down, here is how far the different brokers put it from 7907 down to:

lang+schwartz charts: 7891
abn amro: 7860
synthesis:7806

no kidding!!!

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2007-10-24 i cannot recommend those guys at all. some of those people recommending this "bank" seem to be affiliated with synthesis, or they studied their commercials well. they can repeat their slogans quite good. in addition to those who rated "scam" i need to mention more weaknesses of the software:

no possibility to download any activity log nor account statements. if it comes to complaints u must have screenshots of the trading history yourself, b/c their chat"traders" (haha) cannot find ur latest orders. since their rules are really leaving u no chance to complain at all, that even doesnt matter

also, they lately doubled margins for all cfd-trades and gave a 4-hour-in-advance-notice, 1 hour before they said they would make margin calls it was not possible to do any trades, also nobody was there to chat with.

i can confirm they are big time s/l hunters, peaks going far below/above what other charts are saying. that happens regularely. and when it happens, u have no chance trading during that time. my internet connection is fast enough i suppose (dsl 2000).

their trading recommendations are purely a joke in 70- 90 %

onlly read their terms and conditions and u know what they are up to.

Probably that once it was the good broker???!!!
However, after they were sold to one of main Scammer in this market "Saxobank" they began to use the same methods of struggle against successful traders.
These Thieves later some hours have changed the price of opening of my transaction more than on 30 pips and at all have not sent me any message. When I have addressed to them, they have informed me about the "wrong" prices and have referred to some Items in the contract.
Their contract is the license for arbitrariness from their party!
Under this contract they can make with you all that will want!
To change transactions or completely to cancel!
Be careful of these swindlers and do not test destiny!!!

Very good platform, but forget to trade the news.. They not filed you when price turning into yellow, i'm news trader so i rated 1 star.

simply satisfied by their service, able to support and provide advice on the market, with competetive pricing. Really good. I had tried several demo accounts before making my decision, but do not regreat. Platform is OK, only negative point : no Web platform (but to be honnest, the download platform is more than fine ...)

I have a two years experience with this swiss broker and I have no problem with them. They are not the cheapest broker but this is normal since they are a swiss bank ! No doubt about the swiss bank security and quality of service. I'm happy with Synthesis. High quality of service (customer service and support), average rates, professional multi product trading platform. All I need. They are speaking the language you want.

I've first tried the demo platform, professional functionalities and it looks very good. The multi product platform is good for those who don't just want forex trading but also buying stocks, cfds and I even discover futures ! I wanted to have my forex account in a real swiss bank to have the best security for my money :) The service seems to be very good too but I use synthesis bank just since february 2007, certainly better than my previous broker.

Premium service with excellent advice and support from Traders. "Professional" platform, conditions and rates OK, and tested CFDs as well couple of weeks ago. Till now, no issue with slippage ... but did not try too exotic crosses ...

I am client from Synthesis Bank since a couple of months, and their platform is great, without any slippage issue ... but the most important thing why I have chosen them: their Customer service. They are really available (speaking French ;-)) and relevant for providing support when needed. I strongly recommend them ...

I opened an account to Synthesis Bank simply because tey are not Price Makers. This is the way I got acquainted with them. They are a bank as per the Swiss legislation. It means that they are controled and audited by the Federal Banking Authority. They are not authorized to manipulate the market prices : any wrong doing, and they are closed (this is the Swiss legislation). The bad point is that they are very expensive. The spread on EURUSD is set at minimum 4 pips, and 4.5 pips for the GBPUSD. During the NFP (Apr. 5, 2007), they increased the spread at 15 pips on the GBPUSD prior the data was released.
I do believe that Swiss banks deliver the best banking services because bank advisors are available at any time for you whether you have a little account (like me) or not. Additionally, Swiss banks will always use all the suitable means to ensure that you get quick access to the information you need, and to deliever reliable answer. This is what synthesis bank is doing through their CHAT service (you speak directing to your trader from your compurer 24/24 hours), and I believe that this explains their higher spread.
Exemple : I wanted to benefit of a carry trade on GBPJPY in a period where the pair was highly volatile. I got advised by one of their traders on the chat who guided me to buy some "GBPJPY options" in complement to my Long Position on the pair. This went to a success, and well secured my carry trade. If you want to know if you have buyers/sellers ahead on a pair.. just ask.

Now I refer to the comment made by Eric Lapage, Austria (Nov.06) about money suddenly disapearing from the account: yes this occured to me as well. I noticed that their platform notifies about the existence of opened positions in your account, though you are flat. This happens to the positions you closed when selling LONG positions or Buying SHORT ones. For a management purpose, the bank will continue during the trading session to show that your closed position are still opened. This is an absurdity because it creates confusion. I notified them about this non-sense following the decision of the system to cancel the 950 USD I won when I clicked on those "green crosses" in order to close the marked opened position lines appearing in my FOREX account statement. I should say that this absurdity does not occur in the Demo-mode (your earnings are not cancelled in the demo, you have instead a message telling that your positions are already closed.. and no actions occur).
They promised to consider my case, as I asked to be refunded. This happened last week, and do not have yet their final word (may be I should have waited their answer prior writing this input). However they called me as soon as they received my complaining letter to invite me to participate free of charge to a serie of 4 seminars on high level Charting analyses organised in Geneva by their bank. They really felt upset that such thing can occur (this was amazing !)
I refuse to put 5 stars because of the way their platform functions and the confusion it brings subsequently to all of us. This happened to me with 950 USD, it could happened to anyone of us with much more money at stakes.

I have been trading with Synthesis bank for 18 months and have had no problems, they have been very good and I am currently recommending two of my collegues to trade with them. They are not the cheapest however they provide the best service I have received in the last 7 years of self trading.