Synergy Markets Review 2020
Synergy Markets is a Forex and CFD broker that provides professional trading solutions to traders in Australia and other parts of the world. The broker offers over 50 different FX-related products, including currency trading, equity, indices, commodities, and cryptocurrencies, via the sophisticated MT4 and MT5 trading platforms, along with 24-hour customer support.
Synergy Markets Review 2020, Pros & Cons
- User-friendly MetaTrader platforms
- Multiple trading instruments
- A selection of educational resources
- 24-hour customer support
- No US clients
- Minimum $500 deposit
- No daily market analysis
- No social trading platform integration
- No standalone trading tools
In this detailed Synergy Markets review, our online broker research team has covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
Synergy Markets is not ranked in our best forex brokers, best stockbrokers, best CFD brokers, best crypto brokers, or best online brokers categories. You can use our free broker comparison tool to compare online brokers including Synergy Markets.
Synergy Markets Review: Summary
Headquartered in Sydney, Australia, Synergy Markets is a regulated online trading broker that provides traders with the popular MT4 and MT5 trading platforms for trading different financial instruments online. The broker offers multiple account options, with a required minimum deposit of $500, competitive spreads starting from 0.0 pips, and a leverage of up to 1:500. Synergy Markets is an ECN broker that operates with No Dealing Desk (NDD) intervention.
Synergy Markets Review: Regulation
Synergy Markets is a registered trading name of ACY Securities Pty Ltd, which is regulated and licensed by the Australia Securities and Investments Commission (ASIC). Their Australian Financial Services License (AFSL) number is 403863.
Synergy Markets Review: Countries
The broker states that it does not accept residents/citizens of the US or any other jurisdiction where the use of their services would be contrary to local laws or regulations.
Some Synergy Markets’ features and products mentioned within this Synergy Markets review may not be available to traders from certain countries because of legal restrictions.
If you are looking for a trading broker in a particular country, please see our best brokers USA, best brokers UK, best brokers Australia, best brokers South Africa, best brokers Canada or our best brokers for all other countries.
Synergy Markets Review: Trading Platforms
MT4/MT5 Trading Platforms
The broker provides traders with the popular MT4 and MT5 trading platforms. The MT4 platform is the industry-leading platform that is used by both professional and beginner traders. It is fully customizable and has a range of built-in tools and custom indicators for advanced technical analysis. Clients can also automate their trades by building or installing Expert Advisors.
MT5 is an improvement on the MT4 platform. Both MT4 and MT5 are available as desktop applications for Windows and Mac computers, WebTrader, and mobile apps for Android and iOS devices. The mobile trading apps are useful for those who wish to access their trading accounts whilst on the go from anywhere in the world, provided they have an internet connection.
Synergy Markets Review: Trading Tools
There are no standalone trading tools on the broker’s website at the moment.
Synergy Markets Review: Education
The broker’s website contains a good selection of educational resources that aid traders in making informed decisions. They include News, an FAQ section, and a Market Info section that contains Training Guides, Webinars, and Video Tutorials.
Synergy Markets Review: Trading Instruments
Synergy Markets offers over 50 different tradable assets, including forex currency pairs, equity, indices, commodities, and cryptocurrencies, for online trading.
Synergy Markets Review: Trading Accounts & Fees
The broker offers a Standard Account and an ECN Account. With the Standard Account, you can trade with a minimum deposit of $500 and enjoy competitive market pricing and no commissions. On the other hand, the ECN Account has a minimum deposit of $1,000. There is also the MAM/PAMM accounts for account managers. Demo accounts are provided for practice purposes. They come preloaded with virtual funds, allowing you to practice your trading strategies and familiarise yourself with the brokers services.
As broker fees can vary and change, there may be additional fees that are not listed in this Synergy Markets review. It is imperative to ensure that you check and understand all of the latest information before you open a Synergy Markets broker account for online trading.
Synergy Markets Review: Customer Service
The broker offers a 24/7 customer support that can be contacted via telephone, email, web form, and online live chat.
Synergy Markets Review: Deposit & Withdrawal
Clients can deposit and withdraw funds to and from their trading accounts via bank transfer, E-payments, and major credit/debit cards, such as Visa and MasterCard.
Synergy Markets Review: Account Opening
You can find a button to create an account on the top-right of every page. You’ll be asked to supply your information, including your name and address, but you need to choose the currency account you prefer.
It is imperative to ensure that when you are going through a broker application, you clearly read all of the broker’s terms, conditions, and policies. Only proceed if you fully understand and agree to them.
Synergy Markets Review: Conclusion
Synergy Markets is a regulated online trading broker that provides traders with the sophisticated MetaTrader 4 and MetaTrader 5 trading platforms for trading multiple financial assets. They have multiple account options with a required minimum deposit of $500, spreads starting from 0.0 pips, and flexible leverage of up to 1:500. The broker could improve by adding daily market analysis, social trading platforms and some standalone trading tools.
Foreign exchange and derivatives trading carry a high level of risk. Before you decide to trade foreign exchange, ensure to consider your investment objectives, risk tolerance, and trading experience. It is possible to lose more than your initial investment, so do not invest money you cannot afford to lose.