SyncPrime is an unlicensed CFD Forex broker that opened in March 2017. The owner is Marchmont European Technology LP, located at: Suite 1, 4 Queen Street Edinburgh, EH2 1JE Scotland, United Kingdom.
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SyncPrime utilizes the new Spot5 system for CFD trading. The trading software is very popular because it is so easy for investors to navigate and execute trades. You can trade Crypto CFD’s, Options, Pairs, Long Term Options, 60 second and 5 minute options, One Touch, Builder, Ladder, and the “Limits” binary options. Now they offer Bitcoin, Ethereum and Litecoin trading 24 hours a day, 7 days a week.
Limits option are used to enter a trade when the underlying asset reaches a specified price, and the payouts vary based on the asset class and time of today. Minimum trade size is $25, and the Max trade size is $10,000.
Account types start with the smallest required deposit amount being $250. They list 50% bonus and risk free trades, but it is important you understand the terms and conditions before accepting a bonus, or you will have complaints.
When the Scam Broker Investigator reviews a Forex broker, we check if they received a license from FSB South Africa, FCA United Kingdom, or ASIC Australia. Trading with a licensed broker means your money is kept in segregated bank accounts, and you are protected if the broker becomes insolvent.
We did not find a license for SyncPrime. You can find a list of licensed binary option broker by looking here.
If you are already investing with SyncPrime, please share your experience with other traders in the comment section below.
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“ASIC urges all investors considering trading in binary options to check they are dealing with an entity that holds an Australian financial services licence.”