Synergy FX Review – Is It A Scam?


6.3

TRADING CONDITIONS

8.5/10

REGULATION

6.0/10

PRODUCTS

7.0/10

DEPOSIT/WITHDRAWAL

7.0/10

REPUTATION

3.0/10

Pros

  • HIGH 1:500 LEVERAGE
  • VERY TIGHT SPREADS
  • ECN, NO DEALING DESK
  • ASIC REGULATION
  • LARGE NUMBER OF PAIRS OFFERED

Cons

  • AWFUL REPUTATION IN FORUMS
  • NEGATIVE REVIEWS ALLEGEDLY BEING DELETED

Synergy FX have been in the retail forex space since 2011, based out of Sydney, Australia and offering a huge 1:500 leverage for traders. With thousands of brokers around the world, it can be challenge finding the best broker to suit you. In this article we are going to break down everything you need to know about Synergy, from the spreads, the minimum deposit, all the way down to the industry reviews of the company.

Synergy FX Company Information

Year Founded2011
HeadquarteredSydney, Australia
RegulationASIC (Australia)
Office LocationsAustralia, China, United Kingdom

Synergy FX Account Information

Minimum Deposit$100
Account CurrenciesAUD, USD, GBP, EUR, JPY, NZD, SGD, CHF
Islamic AccountsNo
USA TradersNo
Mobile TradingYes
Web Trading AppYes
Deposit MethodsCredit/Debit Cards, Wire Transfer, Skrill, China UnionPay, PayPal
Withdrawal MethodsCredit/Debit Cards, Wire Transfer, Skrill, China UnionPay, PayPal
PAMM AccountsYes
ECN AccountsYes
Commission$3.00 / Lot per side (ECN Account)
Micro AccountsYes
Professional Accounts$0 Minimum Deposits

Synergy FX Review Trading Information

Maximum Leverage500:1
Minimum Lot Size0.01
STP Or Dealing DeskNo
Scalping AllowedYes
Hedging AllowedYes
ExecutionMarket Execution
Negative Balance ProtectionNo

Industry Reviews Of Synergy FX Review

General ConsensusNot Trustworthy
Trustpilot – No Results Found
ForexPeaceArmyOpens in a new tab.2.19/5

Platform Details

Trading PlatformsMetaTrader 4, MetaTrader 4 Mobile, MetaTrader 4 iOS, MetaTrader 4 Android, SynergyFX Social Trader
Crypto TradingYes
VPS For TradersYes
Demo Account30 Days
Instant One Click TradingYes
Number Of Pairs Offered 30

In summary, SynergyOpens in a new tab.

They have no dealing desk and extremely tight spreads making this broker a perfect choice for day traders and intra day traders in the markets, if it wasn’t for the questionable reputation. If you have any experience trading with this broker, please drop a comment below of your experience, pros and cons of Synergy MarketsOpens in a new tab.

I would personally recommend choosing a more well respected ASIC regulated broker like IC Markets or BlackBull MarketsOpens in a new tab.

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