FAQ’s

About Synergy FX

What are your typical spreads? +

Our tight variable spreads range from an extremely competitive 0.1 pips to 2-3 pips, depending on the currency pair and market conditions

Are you regulated? +

Yes, we’re regulated by Australian Securities and Investments Commission (ASIC). Our Australian Financial Services License (AFSL) number is 403863

Where are you based? +

Our main office is at Level 27, 25 Bligh Street, Sydney, Australia – in the heart of the financial district in Sydney. Find out how to contact us here.

Who owns Synergy FX? +

We’re a privately owned company. The owners and management team each have over 20 years’ experience working in the financial markets.

Find out more about us.

Where are client funds held? +

Client funds are held in segregated trust accounts at the AA-rated Commonwealth Bank of Australia (CBA) – one of the largest banks in Australia.

Are you a Straight Through Processing (STP) broker or a Market Maker? +

Synergy FX is Straight Through Processing broker. We are not a Market Maker and we don’t have a dealing desk – which means your trades are instantly executed on the interbank market without any price manipulation.

Who are your liquidity providers? +

Our liquidity comes from 20 global banks, all competing for your order – making for lighting-fast matching and the best pricing at all times.

How can I contact you? +

Just visit our Contact page for all the ways to get in touch.

Synergy FX basics

What account types do you offer? +

We offer a Standard Account and an ECN Account, allowing you to choose whichever best suits your trading style.

With our Standard Account you benefit from competitive market pricing, no commission to pay, and a minimum deposit of just $500.

Our ECN account gives you direct access to our tier-1 liquidity providers for some of the tightest spreads in the market. The minimum deposit is $1,000, and we charge a small commission per trade.

We also have an Expert Feed for professional traders who regularly trade in large volumes. Contact us for more information.

What leverage can I have? +

For both account types, you can have leverage from 1:1 up to a maximum of 500:1 – much higher than most brokers will allow you.

Your default leverage is 100:1 for both accounts.

How do I change my leverage? +

If you would like to change your leverage, download and complete the Change Leverage form and email it to accounts@synergyfx.com.au.

What currencies can I have my trading account in? +

Your trading accounts can be in AUD, USD, EUR, GBP, CAD, SGD and JPY.

Do you allow scalping and hedging? +

Yes – both scalping and hedging are allowed on our platform.

Do you offer Forex education? +

Yes, we have a world class and industry leading education portal, with a number of training guides, webinars and video tutorials.

I need a statement for tax purposes +

LOGIN to the Metatrader 4 platform. Open the ACCOUNT HISTORY tab in the TERMINAL, then RIGHT CLICK in that window and choose CUSTOM PERIOD. Once you have selected the tax period you need, RIGHT CLICK in the TERMINAL again, and select SAVE AS REPORT.

Can I have a permanent demo? +

Yes of course you can. To receive a permanent demo please contact us and all we ask is that if you have a live funded account. We know you want to practice new strategies in a demo environment first so we will be delighted to provide you with a permanent demo account.

Opening an account

How do I open a live account? +

Click here to open an account. You’ll also find a button to create an account on the top-right of every page.

You’ll be asked for various pieces of information, such as your name, address, and which currency account you require. If you don’t have all the information to hand, you can start the application process, save it and return to it later.

What is your minimum deposit requirement to open a live account? +

The minimum deposit is $500 to open a Standard Account, and $1,000 for an ECN Account.

How do I open a demo account? +

Click here to open an account. You’ll also find a button to create an account on the top-right of every page.

Once you’ve filled in our short form to apply for a demo account, we’ll email you a link to download the Synergy FX trading platform to your computer.

Are demo and live accounts identical? +

Yes – they’re identical in terms of how they work and the prices they show. The only difference is that trades on demo accounts are executed on our server, while live account trades are executed on the interbank markets. As a result, the fill prices may be slightly different due to the available liquidity on the interbank markets.

Do you accept US clients? +

US CFTC regulations prevent any client currently residing in the US trading with non-US brokers – we can accept you if your place of residency is outside the US. The exception to this rule, is if you are an ECP or Sophisticated Investor, then we can accept your business. Feel free to contact us to enquire with a Senior Account Manager.

Funding your account

How can I fund my account? +

You can fund your trading account by bank transfer, with all major credit and debit cards, and also with China Union Pay.

How long does it take to fund my account? +

If your bank account is based in Australia, a transfer can take up to one business day to arrive in our account. An international transfer may take 2-5 business days.

What are your charges for crediting my trading account? +

We don’t charge you for funding your trading account by bank transfer. However, if you’re based outside of Australia your bank may charge you to make an international payment; this amount will vary from bank to bank.

For credit and debit card payments, we deduct a 3% processing fee from the amount you fund.

Currency conversions may incur a 1% conversion fee.

Withdrawals

How do I withdraw funds from my trading account? +

Complete this Withdrawal form and send it to accounts@synergyfx.com.au.

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? +

If you funded your account with a credit card, you can withdraw anything up to the initial funding amount back to your credit card within 60 days. After 60 days, you can withdraw any profits you’ve made above the initial amount you funded. Refunds to non-AUD credit cards may incur a conversion fee levied by your bank.

If you want to withdraw more than you originally funded within 60 days, you need to withdraw into your bank account.

What are your charges for withdrawing from my account? +

We only charge a fee of 3% for withdrawals under $1,000. Withdrawals of more than $1,000 are completely fee-free.

If your bank is located outside Australia, it may charge a receiving fee. Check with your bank to see if any fees apply.

Currency conversions may incur a 1% conversion fee.

How quickly are withdrawal requests processed? +

We process withdrawal requests on the same day if your request is received before 14:00 AEST. Requests received after 14:00 AEST might not be processed until the next day.

Trading

What is the minimum and maximum size trade allowed? +

For currencies and metals, you can trade a minimum of a micro lot – which is 0.01 lots, or $1,000.

The maximum trade size is 1,000 lots – dramatically higher than most other brokers will allow.

What are the fees and commissions? +

We don’t charge you any fees or commissions for trading with us: we generate our income from a very slight mark-up in the spread we receive from our liquidity providers.

How many currency pairs can I trade? +

On our platform you’re able to trade 30 currency pairs, plus gold and silver.

How long are positions open for? +

Your position will remain open provided you’re in a trade and haven’t been closed out. Your position will only close if a) a target rate or limit order is triggered, or b) you close the position yourself to realise profit.

What are the platform trading hours? +

You can trade from 22:03 GMT Sunday evening (09:03 AEDT Monday morning) until 21:57 GMT Friday evening (08:57 AEDT Saturday morning).

All FX Daily 00:01-23:59 (Monday Open 00:03, Friday Close 23:57)

Metals Daily 01:01-23:59 (Monday Open 01:01, Friday Close 23:57)

Can I change the chart time? +

Unfortunately you cannot change the chart time. If you search in the MetaQuotes community, however, you should be able to find local time plugins.

What time does the rollover occur? +

The rollover occurs daily at 23:59-00:01 GMT (11:59-12:01 AEDT).

All FX Daily 00:01-23:59 (Monday Open 00:03, Friday Close 23:57)

Metals Daily 01:01-23:59 (Monday Open 01:01, Friday Close 23:57)

Are your spreads fixed or variable? +

Our spreads are variable – we’ll present you with the best bid and offer prices that we can find at any given moment.

How much margin is required to place a trade? +

That depends on the size of the trade you’re placing and the leverage your account is set to.

For example, if you’re trading a standard lot of 100,000 and you’re using 200:1 leverage, then the margin required is $500. If you’re trading two mini-lots (2,000) and you’re using 100:1 leverage, then the margin required is $200.

When will I receive a margin call? +

When your margin level reaches 100% or lower, you’ll receive a margin call.

Your margin level percentage is the last number listed on your balance bar at the bottom of your platform. The calculation for your margin level percentage is this:

(Equity/Margin) x 100 = margin level percentage

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.

Can I generate account statements? +

Yes: LOGIN to the Metatrader 4 platform. Open the ACCOUNT HISTORY tab in the TERMINAL, then RIGHT CLICK in that window and choose CUSTOM PERIOD. Once you have selected the tax period you need, RIGHT CLICK in the TERMINAL again, and select SAVE AS REPORT.

Can I use an Expert Advisor (EA) or Forex robot? +

Yes, you can use your EA or Forex robot on our platform. Or you can use one of ours! Speak to your account manager to find out more.

Why did my position close out when the candle never got there? +

This is usually because the charts only show bid price and not historical ask prices. If you need this explaining further please contact us.

Metatrader

What does it mean when it shows “Trade Context is busy”? +

Try closing out and logging back into the platform – that usually removes the problem!

My demo login doesn't seem to be 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 won’t need to download another MT4 platform – you can use your existing one but be sure to make a note of your new login details.

What are the swap rates? +

In the Market Watch area, right-click and select “Symbols”. If you select “Properties” while on a trading symbol, you’ll see the swap rates there.

Why can't I see all the currency pairs? +

Try right-clicking on “Market Watch” and selecting “Show All”.

Can I change my chart time? +

Unfortunately you cannot change the chart time. If you search in the MetaQuotes community, however, you should be able to find local time plugins.

I cannot connect/the platform won’t connect +

Don’t worry let us help you, this can sometimes a server issue or maybe an issue your end. If this happens you might see something like:

Invalid account – incorrect login and password

No Connection – cannot connect to the server

For live accounts you may need - mt4pro01.synergyfx.com.au:443

And for demo accounts you may need – mt4dem01.synergyfx.com.au:443

How do I log in to MT4? +

When you joined us you will have been sent a username and password.

Simply enter your username and password into MT4 when requested and away you go.