synergyfx Company

SynergyFX Forex Broker - Comprehensive Information Guide

1. Broker Overview

SynergyFX, established in 2011, is a reputable forex broker based in Sydney, Australia. The broker operates under the regulatory authority of the Australian Securities and Investments Commission (ASIC), holding the Australian Financial Services License (AFSL) number 403863. SynergyFX is a private company, owned by ACY Securities Pty Ltd, which enhances its operational capabilities and technological advancements.

Over the years, SynergyFX has developed a solid reputation in the trading community, catering primarily to retail forex traders and institutional clients. The company has reached significant milestones, including its acquisition by ACY Capital in September 2018, which further bolstered its trading infrastructure and service offerings. SynergyFX operates a no dealing desk model, allowing for direct market access and competitive pricing, which is essential for traders seeking to execute trades efficiently and effectively.

The broker offers a wide range of trading instruments, including currency pairs, commodities, indices, and cryptocurrencies, making it a versatile choice for traders of all experience levels. As a SynergyFX broker, the firm focuses on providing a transparent and user-friendly trading environment, ensuring that clients have access to the necessary tools and resources to succeed in their trading endeavors.

2. Regulation and Compliance Information

SynergyFX is primarily regulated by the Australian Securities and Investments Commission (ASIC), which ensures strict adherence to financial regulations and standards. The broker's AFSL number is 403863, and it complies with the regulatory requirements set forth by ASIC, including maintaining sufficient capital reserves and implementing robust internal procedures for risk management.

In addition to ASIC, SynergyFX is also registered under the Vanuatu Financial Services Commission (VFSC), which further broadens its regulatory framework. The company maintains client funds in segregated accounts at the Commonwealth Bank of Australia, ensuring that client assets are protected and kept separate from the broker's operational funds.

SynergyFX implements comprehensive Know Your Customer (KYC) and Anti-Money Laundering (AML) measures to prevent fraud and ensure compliance with international standards. These measures include verifying the identity of clients during the account opening process and monitoring transactions for suspicious activities.

3. Trading Products and Services

As a well-established forex broker, SynergyFX offers a diverse range of trading products and services. Traders can access over 40 currency pairs, including major, minor, and exotic pairs, allowing for comprehensive forex trading options. The broker also provides Contract for Difference (CFD) products across various asset classes, including:

• Indices: Access to major stock indices such as the S&P 500, NASDAQ, and FTSE 100.
• Commodities: Trading options for precious metals like gold and silver, as well as energy products such as crude oil.
• Cryptocurrencies: A selection of CFD trading on popular cryptocurrencies like Bitcoin, Ethereum, and Litecoin.

SynergyFX is known for its competitive spreads and low trading costs, making it an attractive option for traders looking to maximize their profit potential. The broker frequently updates its product offerings to meet the evolving needs of its clients, ensuring that they have access to the latest trading instruments and opportunities.

4. Trading Platforms and Technology

SynergyFX supports the widely popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms, providing traders with powerful tools for market analysis and trade execution. The MT4 platform is known for its user-friendly interface and extensive range of features, including:

• Advanced charting tools
• A variety of technical indicators
• Automated trading capabilities through Expert Advisors (EAs)

The MT5 platform offers additional features such as improved order types and enhanced analytical tools, catering to the needs of both novice and experienced traders. SynergyFX also provides a web-based trading platform, allowing users to trade directly from their browsers without the need for software downloads.

For mobile trading, SynergyFX offers dedicated applications for both iOS and Android devices, ensuring that traders can monitor their accounts and execute trades on the go. The broker's trading infrastructure is supported by Equinix servers located in New York and Asia, providing ultra-fast execution and reliable connectivity.

5. Account Types and Trading Conditions

SynergyFX offers a variety of account types to suit the diverse needs of traders. The primary account options include:

• Standard Account: Requires a minimum deposit of $100, with competitive spreads starting from 1 pip and no commission fees.
• ECN Account: Designed for traders seeking tighter spreads, this account type features spreads starting from 0 pips with a commission of $5 per lot.
• Pure ECN Account: Offers direct access to liquidity providers, with low spreads and a commission structure tailored for high-volume traders.

All accounts provide access to the same range of trading instruments and features, including leverage options of up to 1:500. The minimum trade size is set at 0.01 lots, allowing for flexible trading strategies. Additionally, SynergyFX does not charge inactivity fees, making it an appealing choice for traders who may not trade frequently.

6. Funds Management

SynergyFX supports various funding methods for deposits and withdrawals, ensuring convenience for its clients. The available deposit options include:

• Bank Transfers: Both local and international transfers are accepted.
• Credit/Debit Cards: Visa and MasterCard are supported for quick deposits.
• E-wallets: While popular options like PayPal and Skrill are not supported, bank transfers and credit card deposits provide sufficient flexibility.

The minimum deposit requirement varies by account type, with the Standard Account requiring $100 and the ECN Account requiring a minimum of $500. Deposits are typically processed within one business day, while withdrawals may take 1-3 business days depending on the method used.

SynergyFX does not impose withdrawal fees for local bank transfers, but international transfers may incur a service charge of $25. Overall, the broker's transparent fee structure and efficient processing times contribute to a positive trading experience.

7. Customer Support and Educational Resources

SynergyFX is committed to providing excellent customer support, with multiple channels available for traders to seek assistance. The support options include:

• Phone Support: Available at +61 2 8274 2600 for immediate assistance.
• Email Support: Clients can reach out via email for inquiries and support.
• Live Chat: An instant messaging option is available on the website for quick responses.
• Social Media: The broker maintains a presence on platforms like Facebook and Twitter for additional support and engagement.

The customer support team operates 24/5, ensuring that traders can receive help during market hours. SynergyFX also offers educational resources to enhance traders' knowledge and skills, including:

• Webinars: Regular online sessions covering various trading topics.
• Tutorials: Comprehensive guides on using the trading platforms and understanding market dynamics.
• Market Analysis: Daily updates and insights to help traders make informed decisions.

These resources are particularly beneficial for new traders looking to improve their trading strategies and overall market understanding.

8. Regional Coverage and Restrictions

SynergyFX provides its services to a wide range of markets, primarily focusing on clients in Australia, Asia, and Europe. The broker has established a strong presence in these regions, supported by its robust technological infrastructure and regulatory compliance.

However, SynergyFX does not accept clients from certain countries, including the United States, Japan, and several others due to regulatory restrictions. As a result, traders in these regions are unable to open accounts or access the broker's services.

In summary, SynergyFX is a well-regulated broker offering a diverse range of trading products and services, supported by advanced technology and a commitment to customer satisfaction. With its competitive trading conditions and educational resources, it remains a solid choice for traders looking to navigate the financial markets effectively.