Australian Broker Synergy FX Fined By ASIC for Misleading Advertising

[kreslik.news]

Synergy FX, an Australian-based forex broker, has been fined $10,800 in a landmark regulatory action after it misled clients of its its managed accounts with a bogus fee promotion. The Australian Securities and Investments (ASIC) issued the penalty with an infringement notice linked to false statements used on the company’s website to justify the claim.

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The ruling will serve as a warning to all Australian forex brokers, who stand accused of using a raft of underhand tactics to tempt investors.

According to ASIC, Synergy employed ... (read more)