Frequently Asked Questions

About Synergy Markets

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.

Where are you based?

Our main office is at Level 18/799 B Pacific Hwy Chatswood, 2067 NSW Sydney, Australia

Who owns Synergy Markets?

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 Markets 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 Markets 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.

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 [email protected].

Can I have more than one account?

Yes, you can have up to five accounts.

What currencies can I have my trading account in?

Your trading accounts can be in AUD, USD, EUR, GBP 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 number of training guides, webinars and video tutorials in our Market Info section. We’ll be adding more educational resources to this section soon.

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 a demo 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 Markets 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 US clients trading with non-US brokers – which means that we’re currently unable to accept applications from those based in the US.

Funding your account

How can I fund my account?

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

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 3-5 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 [email protected].

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 timezone is the platform set to?

Our platform is set to GMT.

What are the platform trading hours?

You can trade from 22:10 GMT Sunday evening (09:10 AEST Monday morning) until 21:45 GMT Friday evening (08:45 AEST Saturday morning).

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.

How many currency pairs can I trade?

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

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.

What is the minimum and maximum size trade allowed?

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

For gold and silver, you can trade a minimum of a mini lot – which is 0.1 lots, or $10,000.

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

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 at 22:00 GMT (09:00 AEST).

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.

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

When will my position be closed out as a result of my margin level percentage?

Your position 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.

Can I generate account statements?

Yes: when you’re logged into the Synergy FX trading platform, right-click on the “History” tab. Select the time period that you want to generate the report from.

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

Yes, you can use your EA or Forex robot on our platform.

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 Markets 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?