About Synergy FX
Are you regulated?
Yes, Synergy Forex Pty Ltd is regulated by ASIC – Australian Securities and Investments Commission. Our AFSL number is 403863.
Where are client funds held?
Client funds are held in segregated trust accounts at CBA, Commonwealth Bank of Australia, one of the largest banks in Australia.
Where are you based?
We are based at 56 Pitt Street, Sydney, Australia. We are in the heart of the financial district in Sydney, and opposite the Australian Stock Exchange.
Who owns Synergy FX?
Synergy FX is a privately owned company. The owners and management team have combined over 100 years of financial markets and forex experience.
How can I contact you?
You can call us by telephone Live Chat, Skype and email.
Are you an STP (Straight Through Processing) Broker or are you a Market Maker?
Synergy Forex is an STP broker. We are not a marker maker and we do not have a dealing desk. This means you have direct access to some of the world’s largest bank which is why our pricing is so good.
Who are your liquidity providers?
We stream you prices from a wide range of major banks from around America, Europe and Asia. We use more than one bank which provides you better pricing.
What are your typical spreads?
Our tight variable spreads can range from 0.5 pips to 2-3 pips depending on the currency pair and market conditions.
How do I open a Live Account?
Click “Open a Live Account” on our website and complete the online account application form. You will be asked for various pieces of information such as address, passport number and which currency account you require – so please have your personal information with you. If you don’t, you are able to save your application and return at a later date.
How do I open a Demo Account?
Select “Open a Demo Account” from the website and fill in the required information. We will then email you your Synergy FX trading platform to download to your PC.
Do you accept US clients?
Unfortunately due to the recent CFTC rulings in the US, we are unable to accept applications from US based clients.
Funding and Withdrawals
How can I fund my account?
You can fund your trading account by bank transfer and all major credit cards.
How long does it take to fund my account?
If you are in Australia and make a bank transfer can take up to 1 business day to arrive in our account. An international transfer can take up to 3-5 business days
What are your charges for crediting and withdrawing from my trading account?
We do not charge you for funding your trading account, although if you are outside of Australia your bank may charge you to make an international payment and this amount will vary from bank to bank.
For withdrawals to bank accounts outside Australia, there is a $25 fee per withdrawal. We process withdrawal requests on the same day and international withdrawals may take a few business days to reach your bank account.
How do I withdraw funds from my account?
We do not make third party payments – we will only pay funds to a bank account in your name.
Can I make a withdrawal to my credit card?
No. We can only make withdrawal payments to a bank account in your name.
What leverage can I have?
You can have leverage from 1:1 upto a maximum of 500:1.
How do I change my leverage?
Accounts are set to a default level of 100:1. If you want to change your leverage level then please go here
Can I have more than one account?
Yes you can have upto 5 accounts.
What account types do you offer?
You can trade standard lots (100,000), mini-lots (10,000) and micro-lots (1,000) all within the same account. We do not offer separate accounts, just one account type.
What currencies can I have my trading account in?
Your trading accounts can be in AUD, USD, EUR and GBP.
What is your minimum deposit requirement to open a Live Account?
The minimum deposit is $500 to open your trading account.
Do you allow scalping and hedging?
Yes we allow scalping and hedging on our platform.
What is the minimum and maximum size trade allowed?
You can trade a minimum of a micro lot, which is 0.01 lots or $1000; and the maximum trade size is 20 lots.
What are the fees and commissions?
We do not charge you any fees or commissions for trading with us. We generate our income from a very slight mark-up up in the spread we receive from our liquidity providers.
How many currency pairs can I trade?
You can trade 30 currency pairs plus gold and silver on the Synergy Forex platform.
How long are positions open for?
Your position will remain open provided that a) you are in a positive trade and have not been closed out b) until a target rate or limit order is triggered or c) you close the position to realise profit.
What are the platform trading hours?
You can trade from 22:00 GMT Sunday evening (09:00 AEST Monday morning).
The platform closes at 20:45 GMT Friday evening (07:45 AEST Saturday morning)
What timezone is the platform set to?
Our platform is set to GMT.
Can I change the chart time?
No the chart time cannot be changed. If you search in the MetaQuotes community you should be able to fund local time plug ins.
What time does the Rollover occur?
Can I access my trading account from different computers at the same time?
Yes, you can be logged into your account simultaneously from more than one destination.
Do you offer Forex Education?
Yes we have a comprehensive Forex Education section which can be found here
Are your spreads fixed or variable?
Our spreads are variable.
How much margin is required to place a trade?
This depends on the size of the trade you are placing and the leverage your account is set to. For example if you are trading a standard lot of 100,000 and you are using 200:1 leverage, then the margin required is $500. If you are trading 2 mini-lots (20,000) and you are using 100:1 leverage then the margin required is $200.
When will I receive a Margin Call ?
You will receive a margin call for additional funds when your margin level reaches 100% or lower. Your margin level percentage is the last number listed on your balance bar at the bottom of your platform. The calculation for this is:
(Equity/Margin) x 100 = Margin Level Percentage
When will my position be closed out?
Your positions will be closed out when your margin level reaches 50% or lower.
How do I manage risk?
You can manage your risk by using protective strategies such as stop losses and limit orders. Stop losses can be set to minimise the effect of the markets moving against your position and reduce your trading losses. Limit orders can place a maximum price that a currency pair can be traded at.
How do I open a free demo account?
Open a free demo account by clicking "Open a Demo Account".
Can I generate account statements?
When you are logged into the Synergy FX trading platform, right click on the History tab. Select the time period you want to generate the report from.
Can I use an EA (Expert Advisor) or forex robot?
Yes you can use your EA or forex robot on our platform.
My platform shows “Trade Context is busy”
Close out and log back into the platform. This usually removes the problem.
My Demo login is not working
The Synergy FX demo platform is valid for 30 days, so check to see if your demo platform is still valid. To generate a new demo account, go to File>Open An Account and you can create a new password and login. You will not need to download another MT4 platform, you can use your existing one, just make a note of the new login details.
Where are the swap rates?
In the Market Watch area, right click and select Symbols. If you select Properties whilst on a trading symbol, you will see the swap rates here.
I can’t see all the currency pairs?
Right click on Market Watch and select “Show All”