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
|Office Locations||Australia, China, United Kingdom|
Synergy FX Account Information
|Account Currencies||AUD, USD, GBP, EUR, JPY, NZD, SGD, CHF|
|Web Trading App||Yes|
|Deposit Methods||Credit/Debit Cards, Wire Transfer, Skrill, China UnionPay, PayPal|
|Withdrawal Methods||Credit/Debit Cards, Wire Transfer, Skrill, China UnionPay, PayPal|
|Commission||$3.00 / Lot per side (ECN Account)|
|Professional Accounts||$0 Minimum Deposits|
Synergy FX Review Trading Information
|Minimum Lot Size||0.01|
|STP Or Dealing Desk||No|
|Negative Balance Protection||No|
Industry Reviews Of Synergy FX Review
|General Consensus||Not Trustworthy|
|Trustpilot – No Results Found|
|Trading Platforms||MetaTrader 4 (Which can be hacked), MetaTrader 4 Mobile, MetaTrader 4 iOS, MetaTrader 4 Android, SynergyFX Social Trader|
|VPS For Traders||Yes|
|Demo Account||30 Days|
|Instant One Click Trading||Yes|
|Number Of Pairs Offered||30|
In summary, Synergy is not the most trustworthy forex broker due to a fairly large amount of negative reviews from other traders. They are yet another of the ECN brokers coming out of Australia, much like IC Markets, offering really high 1:500 leverage, a range of trading platforms, free industry news to help with trading decisions and even ASIC regulation for peace of mind.
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 Markets.
I would personally recommend choosing a more well respected ASIC regulated broker like IC Markets or BlackBull Markets, as we have no doubt about withdrawals being paid consistently by these companies.