Synergy FX – Fees and Spreads

Fees and Spreads

Synergy FX offers variable spreads on its accounts, ranging from 0 to 2-3 pips, depending on the account type, the currency pair and market conditions.

Fees, spreads, and commissions that traders can expect when trading with Synergy FX are as follows:

• Withdrawal fees, varying according to the selected withdrawal payment method
• Inactivity fees on idle accounts
• Deposit fees that depend on the payment method
• Commissions on CFD instruments

Additional Trading Fees

Traders can expect that swap fees may be charged when positions are held overnight or for longer than a trading day when trading financial instruments such as forex.

Synergy FX does not make provision for an Islamic Account for Muslim traders who follow the Sharia Law and are prohibited from earning or paying interest when holding positions open. This option is only available for day trading.

The Synergy FX support team can be contacted to advise whether spread betting is allowed and what spread betting fees would apply.

Broker Fees

Synergy FX uses commissions as a service charge for facilitating the buying and selling of financial assets via your trading account. Such commissions will differ depending on the trading type, financial asset type and what level of trading account you have.

Traders also need to ensure that they are aware of additional charges that may be charged by their financial institution and that they might be subjected to currency conversion fees if they transfer fees in a different currency from their account base currency.

Synergy FX does not charge any other hidden fees apart from inactivity, deposit fees and withdrawal fees.

Pros and Cons

FAQ

How many instruments can I trade with Synergy FX?

You can trade 60 different instruments with Synergy FX, which include:

• 41 different FX pairs,
• 4 types of precious metals and
• 15 global stock indices

Which platforms are supported by Synergy FX?

Synergy FX provides the following popular trading platforms:

• MT4
• MT5

Does Synergy FX offer leverage?

Yes, Synergy FX offers maximum leverage of 1: 500.

What spreads can I expect with Synergy FX?

Synergy FX offers variable spreads on its various accounts, ranging from 0 pips to 2-3 pips, depending on the account type, the currency pair and market conditions. More information can be obtained from the customer support service.

Does Synergy FX charge commission?

Yes, more information on commissions can be obtained from the customer support service.

Are there additional charges on the Islamic account?

Synergy FX does not offer the option to open an Islamic Account. Such charges are often not indicated on the account features pages, hence Muslim traders should always contact the support team to find out about possible wider spreads, additional commissions, or administration fees.

Is Synergy FX regulated?

Yes, Synergy FX is regulated by ASIC and VFSC.

Is Synergy FX a recommended forex trading broker for experts and beginners?

Synergy FX offers a fair-trading environment for all types of traders.

What is the overall rating out of 10 for Synergy FX?

7/10.