SynergyFX-Overview of Minimum Deposit, Spreads & Leverage

BASIC INFORMATION:

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 to provide a high-quality trading experience with low commissions. SynergyFX is not subject to any regulation, so it is uunsafe to trade with it.

MARKETS

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.

TRADING FEES

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 clients can expect $6 and $5 per lot charges with the zeroECN and pureECN accounts respectively.

LEVERAGE

Leverage is available up to a maximum of 1:500 across all accounts.

ACCOUNT TYPES

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 shares CFDs via the commission-based MT5 Xchange account.

DEPOSITS & WITHDRAWALS

Deposits

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.

Withdrawals

The same options are available for withdrawals; however, client can only withdraw via bank wire if you originally deposited by credit card. There is a $25 service charge per withdrawal for international bank transfers and a 3% merchant fee for payments via Skrill. Australian local bank transfers are free three times per month, after which there is a $25 charge per additional withdrawal. In most cases, withdrawals are processed in 1 – 2 business days.

DEMO ACCOUNT

A demo account is available in 17 different languages and can be opened within minutes

TRADING PLATFORMS

· Meta Trader 4

· Meta Trader 5

· MetaTrader WebTrader

TRADING HOURS

Trading hours for currency pairs are 00:00 – 24:00 GMT+2 / GMT+3 (DST) Monday to Friday.

Customer Support

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)

ACCEPTED COUNTRIES

SynergyFX accepts traders from Australia, Thailand, Canada, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.

Traders cannot use SynergyFX from United States