Abstract:SynergyFX is an Australian forex broker, offering ECN accounts on the downloadable MT4 and MT5 trading platforms.Founded in 2011, SynergyFX is an Australian provider of forex and derivative products. In 2018, the company merged with the ACY Capital Group.
GENERAL INFORMATION AND REGULATION
SynergyFX is an Australian forex broker, offering ECN accounts on the downloadable MT4 and MT5 trading platforms.Founded in 2011, SynergyFX is an Australian provider of forex and derivative products. In 2018, the company merged with the ACY Capital Group.
ACY Capital Group acquired the leading Australian forex dealer Synergy Financial Markets (Synergy FX) in September 2018, Synergy FX was founded in Sydney Australia. It is the globally leading no-intermediary dealer and has millions of clients around the world. Synergy FX was ranked the best Australian forex dealer by GMFR in 2015. Combining many years worth of financial markets experience, backed up with knowledge and proven track records, Synergy management team is providing traders with best financial services in the industry.
Each member of the Synergy team has extensive experience in currency markets, mergers and acquisitions, funds management, stock broking and futures trading from some of leading global banks and investment institutions. It‘s this first-hand industry experience, coupled with cutting edge technology, that enables Synergy to help traders achieve their investment opportunities.With this acquisition, Synergy FX has been integrated into ACY’s forex and CFD business. They can ensure clients that they will continue to receive the same level of service, commitment and high-level execution that they have previously enjoyed with Synergy FX but to also expect to benefit from new product releases this acquisition brings about. As part of their ongoing commitment to excellence in trading, and providing our clients with the best possible experience, they have been rolling out the new and improved account type pureECN which allows clients to benefit from spreads as low as 0.0 pips with low commission starting at just USD $5 per trade.
MARKET INSTRUMENT
SynergyFX offers a wide range of assets, including 40+ currencies, 10+ commodities and precious metals, 20 global indices, and over 600 of the worlds largest share CFDs. You can also now trade Chinese offshore Yuan (CNH) on the MT4 platform.
ACCOUNT AND LEVERAGE
Depending on your trading style, there are three main accounts on offer at SynergyFX, in 7 different currencies: stpECN, zeroECN, and pureECN. All accounts require a minimum trading volume of 0.01 lots.
stpECN
The stpECN account offers competitive market pricing, with no commissions and a minimum deposit of $50. Swap-free trading is also available with this account.
zeroECN
The ZeroECN account offers direct access to tier-1 liquidity providers for tighter spreads, commissions from $6 per round turn lot, and a minimum deposit of $2,000. The minimum deposit thereafter is $100.
pureECN
The pureECN account also offers direct access to tier-1 liquidity, with tight spreads, commissions from $5 per round turn lot, and an initial minimum deposit of $20,000. The minimum deposit thereafter is $100.
Traders can also get exclusive access to hundreds of share CFDs via the commission-based MT5 Xchange account.
Leverage is available up to a maximum of 1:500 across all accounts. Details of margin requirements are provided in the brokers terms and conditions, or from within the client portal.
TRADE SIZE
All accounts require a minimum trading volume of 0.01 lots.
SPREADS AND COMMISSIONS
Spreads at SynergyFX are competitive, with major FX pairs around 0.8 pips with the stpECN account and 0.2 pips with the zeroECN account. Major indices such as the FTSE 100 are around 1.4 pips, and crude oil is around 0.030 with stpECN pricing.
There are no commission charges with the stpECN account, but you can expect $6 and $5 per lot charges with the zeroECN and pureECN accounts respectively.
TRADING PLATFORM AVAILABLE
Synergy Trading offers MetaTrader 4 and MetaTrader 5 as the Trading platform.
SynergyFX offers MT4 to active traders. With access to forex, indices, and commodities, the platform offers a customisable dashboard and fast execution speeds. Traders also get access to instant live quotes, 40 technical indicators, and several time frames. The platform is also a good option for those looking to build and use automated trading robots.
MT5 offers more advanced order options, hedging abilities, 21 timeframes, and Level II market depth. As a result, the platform offers a faster and more powerful experience than its predecessor. MT5 works with Windows PCs and can be downloaded once an account has been created.
SynergyFX also offers the web-based versions of both the MT4 and MT5 platforms – ideal for MacOS users, or those who dont want to download any applications. The WebTrader solution offers seamless trading with just as much power and speed as the desktop platforms, plus all the technical and analysis features.
DEPOSIT AND WITHDRAWAL
Account funding is available via bank wire transfer (local and international), credit/debit cards, Skrill, Doku Wallet, China Union Pay, and other e-wallets. SynergyFX does not charge for funding by bank transfer, though international payments may incur a bank fee. Received and cleared funds for bank transfers may take 2 – 3 business days.
SynergyFX withdrawal options are Bank Wire, Cards. Also, the company does not charge funding fees, however payment providers may add on some fees again according to jurisdiction or international rules. For withdrawals, International Transfer will typically incur $25 USD service charge per withdrawal, also recommended for verification with provider and broker respectively.
CUSTOMER SERVICE
SynergyFX have multilingual support offices based in Sydney, Taiwan, China, and Malaysia, which provide assistance 24/5 via:
• Email – support@acy.com
• Online contact form – Contact us page
• Live chat – responses received within 2 minutes when tested
• Telephone – +61 2 9188 2999 (international) / +02 5594 4927 (Taiwan)