SynergyFX Review

Synergy FX is an Australian broker with a high level of service. Founded in 2011, licensed by the Australian Securities and Investments Commission (ASIC). It is an international but still little-known organization that provides consulting, educational and mediation services in trading on financial markets. Specializes in Forex and ECN trading.

Trading conditions:

• Deposit currency: GBP, USD, EUR, AUD, JPY;
• Leverage up to 1: 500;
• Scalping: at low time periods;
• Position hedging: yes;
• Autotrade: yes;
• VPS server, rent $ 25 per month.
• Website languages: English, Indonesian, Chinese

There is a possibility to trade CFDs on cryptocurrencies, including bitcoins, bitcoons, Ethereum, Litecoin and Ripple. Trading is carried out on the MT4 platform.

Trading platform

Attention: access to the company’s trading platform is not available to users from the United States and Canada.

Trading is conducted on the MT 4 platform, which has standard functionality, as well as the ability to install various advisors.

MetaTrader 5 is a multi-level institutional level platform offering outstanding trading opportunities and technical analysis tools, as well as allowing the use of automated trading systems and trading copies.

Account types

The company provides two types of accounts – Standard and ECN.

• Standard account type:

– Execution of transactions on STP technology with high processing speed.
– Leverage 1:500.
– Forced closing of trading positions with fixing losses is performed automatically in accordance with margin requirements.
– Stop Out level is 50%.
– The minimum trading volume is 0.01 of the standard lot – 1000 units of the base currency.
– Trade without commission.

• ECN account:

– Direct access to interbank liquidity.
– Commission for processing trade orders.

To create an account you need to go through 6 stages. When registering at the second stage, the trader indicates the level of leverage and the base currency for the trading account from those offered.

It is necessary to indicate the experience of trading and answer a few questions about the price quotations on the foreign exchange market in order to show your knowledge.

At the fourth stage, compulsory familiarization with all the terms of trade of the broker:

– Terms of Use;
– A contract for the provision of intermediary services;
– Non-Disclosure Agreement;
– Risk notification.

Another fact during registration – the company’s specialists reserve the right to require the client to provide additional identification. Also, when drafting an application for the first payment, he is entitled to assign a video to identify the user.

The remaining steps are the processing of personal data.

Such a system avoids risks for both the trader himself and the broker.

Education and Analytics

After logging in, each trader will be able to download an e-book about Forex. In it, in detail and with practical examples, the basics of technical, fundamental and computer analysis are presented (review of the functionality and purpose of standard indicators and oscillators).

Online seminars are regularly held for existing clients of the company. Various contests to test knowledge and experience.

All traders have access to market analysis and broker news blog, which allows you to be constantly up to date.