Overview of SynergyFX 2020

The company began in Australia and underwent its first registration in 2011. A few years later, the company merged with ACY Capital Group, resulting in a worthy symbiosis that allowed clients to get unparalleled brokerage experience, a versatile approach to business and low commission costs.The company is controlled by two regulators: Australian and Vanuatu.

Two partner banks in Australia (HSBC,CBA) provide account management for company clients that are never combined with company money

Trading platforms

The company offers its clients the world-renowned MT4 platform to trade currency pairs, commodities and indices. The speed of execution of transactions is quite high, and the toolbar is adaptive and customizable. All quotations correspond to stock exchange quotations. The platform provides about forty indicators and several timeframes. For trading in automatic mode the possibility to create trading robots is provided.

The second platform – MT5 – in fact, is an updated version of the MT4 platform, but provides hedging, a much larger number of timeframes – 21. In other words, this platform, much more powerful and more suitable for players who already have experience in trading on the previous platform.

Both versions can be downloaded from the broker’s website. For owners of MacOS devices – there is an opportunity to work through web version in both cases.

Markets

Currencies – 40

Commodities – 10

Indices – 20

Stocks (CFD) – 600

Unusual asset – offshore yuan (on MT4).

Trading commission

For stpECN account – currency spreads 0.8, zeroECN offers tighter forex spreads – 0.2 pips on average. Indices at 1.4 pips, oil at 0.030.

Commissions for the pureECN account are $5/lot, for zeroECN it is $6, There is no fee for a mini-account.

Leverage

Before working with leverage, and here it is 1:500, study the materials about margin requirements on the broker’s website.

Mobile applications exist for all two platforms.

Payment Methods

The company does not set itself the goal – to get income from each step made by the client, for this reason does not consider it necessary to take payment for replenishing the account. It is proposed to increase your balance using a plastic card, and using the transfer to the details of the company and a number of electronic payments like Skrill, China Union Pay and others. Usually it takes up to three banking days to receive funds

Withdrawal of funds has some features, for example, when depositing by card, withdrawal is possible only to the bank account, and the commission for each transaction will be $ 25. If the client has an Australian bank account, three transactions a month are executed without any fee.

Demo Account

It has become customary for every broker to have a demo account, SynergyFX will be no exception. Seventeen languages are supported, since the company’s clients do not reside only in the territory where the company is registered. Each beginner is given 50 thousand virtual dollars to trade without risk. But the term of use of such an account is limited to one month, to start a test trade it is enough to pass a simple registration.

Bonuses and promotions

SynergyFX offers valuable monthly prizes worth over $2 billion for clients depositing at least $2,000.

Educational Opportunities

Every newcomer receives an e-book on the basics of trading, access to educational articles. If you wish, you can attend courses to understand the principles of analysis or take part in free webinars. The platform provides news from the world of stocks and a calendar of upcoming financial events.

SynergyFX account options

The Client may choose one of the seven accounts to suit his or her needs and experience. The deal volume on all the accounts starts from 0.01 lot.

stpECN – zero fee, starting deposit is $50.

ZeroECN – because, on this account, direct access to quotations, the spreads are narrower.This trading account is subject to a fee of six North American dollars per lot. The lower level of initial deposit is $2,000.

pureECN – working on this account you get direct access to liquidity providers, narrow spreads and a $5 commission per round lot. To use this tariff, you must have 20,000 U.S. dollars in your account.

There is also a commission account with stock CFD access. The name of the account is MT5 Xchange.

Customer Service

The company has four offices in Australia, China, Taiwan and Malaysia.SynergyFX has multilingual support offices located in Sydney, Taiwan, China and Malaysia, with specialists available to provide support on weekdays 24 hours a day.

Contact options include Live Chat (our most popular service), Email, Feedback form and Hotline number – separately for all countries – +61 2 9188 2999 and for Taiwanese +02 5594 4927.

Security

When transferring data from server to server, the data is encrypted without fail, and all transactions are performed via the cloud server.

Conclusion

The broker is under the control of the leading regulator in Australia, the basis of the services provided are indexes. Contracts on stocks, indices and currency pairs. The platforms offered by the broker are reliable and convenient, so, this broker can be recommended to traders with different level of experience and knowledge. Training materials in sufficient quantity on a free basis are available on the company’s website.