Synergy FX – Minimum Deposit

Minimum Deposit

Synergy FX requires a minimum deposit of 100 AUD to open an account.

This minimum deposit amount was equivalent to ZAR 1 070 at the average exchange rate between the Australian Dollar and the South African Rand at the time of writing.

Due to Synergy FX’s authorisation as a broker by ASIC, it is required that your funds must be kept in segregated accounts from the broker account and could only be used by you to conduct trading activities.

Deposit fees and deposit methods

The minimum deposit of 100 AUD required by Synergy FX when starting to use a live account is fair when compared to other brokers’ requirements.

Synergy FX offers traders quite a few payments or deposit methods to be used when funding accounts. Funds always must be returned in the same method used to deposit them originally.

Synergy FX accepts the following payment methods:

• Wire Transfer (Local and International)
• Credit Card and Debit Card
• Skrill
• Neteller
• Doku Wallet
• China Union Pay

Synergy FX does levy additional deposit fees and third-party charges may also apply. Withdrawal requests are processed on the same day if a request is received before 14:00 AEST but requests received later might only be processed on the next business day.

Deposit currencies that are accepted include AUD, USD, EUR, GBP, CAD, SGD, NZD, and JPY.

Traders must ensure that they verify whether their financial institution charges its own fees on such transactions.

Step by step guide to depositing the minimum amount

Traders can deposit money into their accounts from their bank accounts to one of the Synergy FX segregated client accounts, or they can access the option to deposit the minimum amount from their personal area once they have registered a live trading account and has received approval.

Traders must then log into their personal area, select the deposit option, and follow the prompts to deposit an amount into their trading account. Traders should take care to select the correct deposit currency before they deposit to avoid conversion fees since funds must be transferred in the same currency as the bank account to which they are sending it.

Pros and Cons

FAQ

What is the minimum deposit for Synergy FX?

100 AUD.

How do you make a deposit and withdrawal with Synergy FX?

Synergy FX offers the following deposit and withdrawal methods:

• Wire Transfer (Local and International)
• Credit Card and Debit Card
• Skrill
• Doku Wallet
• China Union Pay

The same method as used to fund an account must usually be used to withdraw money and monies are only refunded to accounts in the same name as the trading account. Credit Card funded accounts can only do Bank Wire withdrawals.

Does Synergy FX charge withdrawal fees?

Yes, the fees vary according to the withdrawal method and can be found on the company homepage.

How long does it take to make a withdrawal?

Synergy FS withdrawal requests are processed on the same day if a request is received before 14:00 AEST. Requests received after 14:00 AEST might only be processed the next business day. Depending on bank services it may take several days before the money reflects in a client’s bank account.