Synergy FX | Review | CFD Trading Platform

Synergy FX | Review | CFD Trading Platform

Synergy FX | Review | CFD Trading Platform Review

Our Review

 

What is Synergy FX?

10 points summary

How Protected are you with Synergy FX?

Awards

Is Synergy FX a Scam or Safe?

Account

Trading Instruments

Trading Platforms

Trading Fees

Deposit and Withdrawal Options

Education

Customer Support

Conclusion

 

WHAT IS SYNERGY FX?

Trading is risky yet straightforward. It is no secret that trading offers a chance of earning money and upgrading your lifestyle. The 9–5 schedule can be tiring, and everyone is searching for one opportunity that can allow them to leave it behind. For many people, trading is that route of escape. If you are currently searching for a broker that offers trust and support, we are here to help you. 

Synergy FX is based in Australia and regulated by ASIC. It came into existence in 2011 and became a success; the broker offers a terrific trading environment for various trading instruments. In 2018, ACY Capital purchased Synergy FX, and together with the experience and knowledge Synergy FX had and the development of ACY Capital, it turned into a robust association. 


 

Pros

Cons

Regulated by ASIC.

24/7 customer support is not provided.

Low spreads. 

 

MetaTrader platforms provided. 

 

 

 

10 Points Summary

Headquarters

Australia

Regulation

ASIC

Platforms

MT4, MT5

Instruments

CFDs, Cryptocurrency, currency pairs etc.

EUR/USD Spread

1 pip.

Demo Account

Yes

Minimum deposit

$100

Base currencies

USD

Education

Provided

Customer Support

24/5 

A good broker must always provide you with maximum security to gain the trust of its traders. Without protection and confidence, the connection will not last long.

Synergy FX takes the protection of its traders exceptionally seriously. It refuses to compromise on security and keeps the funds in a segregated account in tier-1 banks. Additionally, it is regulated by ASIC. 

If you have chosen Synergy FX as your broker, get a good night’s sleep as your money is kept secure in a very efficient manner. 

Pros

Cons

Licensed by ASIC.

None. 

Funds are kept in segregated accounts.

 

Tier-1 banks.

 

 

AWARDS: 

Any award won by a broker has a positive impact on its reputation in the market. You will find numerous reviews that may be biased, but never a biased award. Synergy FX has won the following awards:

Best Australian Forex Dealer 2015- GMFX

Best Forex Broker 2018- International Business Summit Malaysia

These are some of the many awards won by Synergy FX that speak volumes about its reputation and service. 

IS SYNERGY FX SAFE OR SCAM? 

Many scam brokers are present in the market hunting on potential and beginner traders. To save your money and time, it is important to conduct proper research about the broker’s regulatory status and reputation in the market. 

Synergy FX is a licensed broker regulated by ASIC, which removes any questions about its credibility. It has been in the trading market for more than 8 years and has managed to build a valuable reputation in the market. Therefore, Synergy FX is a good choice. 

ACCOUNT:

Synergy FX offers three different types of accounts: stp ECN, Zero ECn and MT5 Xchange. The minimum deposit account varies in each type along with the spreads. 

STP ECN ACCOUNT: It is the most basic account type and requires an initial minimum deposit of $50. The lot-sized offered is 0.01 lot along with a swap-free account. The spreads vary from 1.0–1.6 on AUD/GBP/EUR USD. 

ZERO ECN ACCOUNT: It is advanced from the primary account and requires an initial minimum deposit of $2,000. Once the initial minimum deposit is made, the actual minimum deposit amount is set at $100. The lot size offered is the same as the stp ECN account. This type of account offers 0 spreads on AUD/GBP/EUR USD. 

MT5 XCHANGE ACCOUNT: It requires an initial minimum deposit amount of $50. A swap-free account is offered along with 1.0–1.6 spreads that vary depending on AUD/GBP/EUR USD. 

DEMO ACCOUNT: A demo account gives potential and beginner trades a chance to get started in the trading world. It serves as a learning tool while providing an authentic experience that can prove to be beneficial. 

 

Pros

Cons

Demo account available

None

 

TRADING INSTRUMENTS:

This popular broker offers various trading options to its traders. The trading instruments include:

More than 40 currency pairs

CFDs ( Gold, Silver, Oil, and Gas) 

Pros

Cons

Gold/Silver CFDs are usually commission-free.

None. 

40+ currency pairs offered.

 

TRADING PLATFORM:

Synergy FX provides the popular MetaTrader4 and MetaTrader5 platforms to its traders. It is no secret that most prefer the MetaTrader platform because of its features.

MetaTrader4 PLATFORM:

The MetaTrader4 platform is one of the most popular and preferred trading platforms to date. It is said that MT4 is capable of providing the most efficient automatic trading systems. It is available on desktop and requires no downloads or updates. 

To provide more comfort and convenience to its traders, a mobile application is available. 

MetaTrader5 PLATFORM:

MetaTrader5 is the advanced version of the popular MetaTrader4. Not only does the MT5 provide more features and options, but it is way faster than its parent MT4.

Pros

Cons

Powerful features

None.

Variety of tools

 

Simple user-interface

 

 

TRADING FEES:

The trading fee depends upon various factors such as spreads and the account type you use. 

As it is an STP broker, it offers variable spreads. The average trading fee per EUR/USD pairs is 1 pips. 

Pros

Cons

Spreads are low.

None. 

Spreads depend upon the account type used.

 

 

DEPOSIT AND WITHDRAWAL OPTIONS:

Synergy FX has provided the traders with a relatively simple method of depositing. Various options are given to choose from, such as:

Bank Transfers: It takes 3–4 days

Debit/Credit cards: It is rapid. 

The minimum deposit amount varies from $50 to $20.000, depending upon the type of account you chose. However, the best part is the process of depositing the funds is free-of-cost, which means no additional fee is charged on deposits. 

For withdrawals, the process is similar to depositing as the same options are available. Even though depositing is free of any fee, withdrawals are charged a fee of $25 on international transfer. FXGM claims that the process of withdrawal is completed within 1–2 working days. 

EDUCATION:

You can be in the market for several years yet cannot claim that you have complete knowledge about it. You may know more than a layman, but one can never have enough knowledge. The learning process never ends. So, if you are experienced or a potential trader, it is your chance to learn with the help of educational resources provided by Synergy FX. 

Synergy FX offers the following educational resources:

Trading Contest: Different types of contests are held, such as Asia Trading Cup and Forex Demo Trading Contest. These are especially helpful for people who have just started their trading career as it provides a live demo environment to test your skills without any pressure. 

Seminars/Webinars: Numerous webinars and seminars are scheduled on relevant topics. Registrations are free of cost.

Market Blog & Economic calendar: All the latest updates and happening are published in the market blog, whereas the economic calendar sheds light on all the recent important economic events worldwide. 

Trading Course: Free video training is provided on their website to help beginners develop a trading edge. 

CUSTOMER SUPPORT:

Customer support service is essential and cannot be over-looked. Always choose a broker that provides excellent customer support service as it indicates that the broker cares about the traders.

Synergy FX has formulated a special team that is present five days a week to assist you with your problems. The team can be contacted by various means such as email, phone or live chat. Additionally, Synergy FX has been kind enough to offer multilingual support to its traders. 

Pros

Cons

Multi-lingual support is offered.

None. 

24/5 support.

 

CONCLUSION:

Synergy FX has grabbed the attention of online traders and managed to gain their trust. Since 2008, the only goal Synergy FX has had was to deliver a terrific trading environment along with additional benefits. 

Synergy FX operates from Australia and is regulated by the Australian Securities and Investments Commission (ASIC). It offers traders a wide range of trading instruments such as CFDs, cryptocurrencies along with excellent customer support service and trading platforms. All in all, it is a good choice.

FREQUENTLY ASKED QUESTION (FAQs):

Is Synergy FX regulated?

Yes, Synergy FX is regulated by Australian Securities and Investments Commission (ASIC).

How much is the minimum deposit amount?

The minimum deposit amount set the Synergy FX is 100$

Is a demo account offered by Synergy FX?

Yes, the option of a demo account is available. 

What platform does Synergy FX provide?

Synergy FX provides the MetaTrader4 and MetaTrader5 Platforms. 

From where does Synergy FX operate?

The headquarters of Synergy FX is located in Australia. 

 

Synergy FX | Review | CFD Trading Platform

Synergy FX | Review | CFD Trading Platform Licenses:

It is regulated by the Australian Securities and Investments Commission (ASIC) under the registration number ABN: 80 150 565 781

 

Leverage:
1:500

Regulation:
Australian Securities and Investments Commission (ASIC)

Min. Deposit:
100$

HQ:
Australia

Platforms:
MT4. MT5

Found in
2011

Write a comment on Synergy FX | Review | CFD Trading Platform