ACYSecurities.com Review

2.699 · 40 REVIEWS

Formerly SynergyFx.com

Updated: Jul 27, 2020 · Visit site  · Is this your company?

ACY Securities is an online forex broker. ACYSecurities offers the Metatrader 4 and MetaTrader 5 currency trading top platforms. ACYSecurities.com offers over 35 forex currency pairs, cfds (stock shares and others), commodities, indices, gold, silver, oil, bitcoin and other cryptocurrencies for your personal investment and trading options.

ACYSecurities.com
Formerly at SynergyFx.com.  Other websites of this broker include acy.com, acyasia.com.

Broker Details

Minimum Trade Size: 0.01
Maximum Leverage: 500:1
Minimum to Open Live: $50
Established: 2013
Address: ACY Tower, L 18, 799 Pacific Hwy, Chatswood NSW , 2067, Australia
Contact: support@acy.com, +61 2 9188 2999
Regional offices:
Regulators: ASIC #AFSL: 403863, VFSC #012868
Prohibited countries:
Trading platforms: MT4, MT5
Web Trading: Yes
Mobile Trading: Yes
ECN: Yes
Currencies: (40+)
Cryptocurrencies: (5+) Bitcoin, Litecoin, Ethereum
CFD: (20+) Gold, Silver, Other Precious Metals, Stock Indexes, Oil, Other Commodities
EAs/Robots: Yes
News Spike Trading: Yes
Scalping: Yes
MAM: Yes
PAMM: Yes
Deposit Methods: Bank Wire, VISA, MasterCard, Doku, Local Bank Transfers, Skrill, UnionPay
Withdrawal Methods: Bank Wire, Doku, Local Bank Transfers

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2.699 · 40 REVIEWS
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Traders Reviews

Paulo,
, New Zealand,
Apr 12, 2014,
Guest

!992 I began trading, Now been trading FX successfully since 2004.

Having used a number of different brokers I moved to Synergy about 14 months ago. There have been a few problems with the data , such as unable to close out trades. Synergy did reimburse my account in respect to profit lost. In the past I have found them to be very good.

However, recently things don't seem that great at synergy, something is not right and I am hearing whispers to get my money out of their accounts. While trading last week my data flow indicator and spread indicator picked up a huge difference in these. For am example my spread is normally never more than 1 pip and as low as .3. However last week the spreads increased to 1.3 to 1.8 pips. So i contacted Synergy and inquired. I was then informed they have changed their data supplier and thats the reason the spreads increased. They also pointed out that I was the only trader to notice this which I find very difficult to believe. They did correct my data, however due to the fact they tried to increased spreads without any notification to clients is beyond me and alerts me to more problems than they are admitting to. Another thing alot of the back office staff is leaving at present. I will withdraw all founds this coming week. Another MT4 broker bites the dust.
 
James Wu,
Hong Kong, Hong Kong,
Jan 24, 2014,
Guest

This broker is exactly what I have been looking for quite a long time. They offer true STP (straight-thought processing) on my orders and never play games like other brokers. I also find they have very friendly staff and my account manager is very knowledgeable about the FOREX Market.

I will keep trading with this broker, and will be depositing another $25K USD soon because of assurances I have seen here. Great broker.

 
Andrew,
, Australia,
Jan 24, 2014,
Guest

This is the next generation for forex in Australia, I like the new website guys, thank you for your great support over the last year.
 
Jane Anderson,
, Australia,
Jan 23, 2014,
Guest

Been with synergy fx for 2 months, stable spreads and minimal slippage. I'm scoring them with 3 stars because I have not heard a lot about synergy in the market. Seem like a good stable broker.
 
Hettie Nel,
Sydney, Australia,
Jan 23, 2014,
Guest

I am a forex mentor and have dealt with many brokers over the last 8 years. When I was introduced to Synergy FX last year a whole new world opened for me, Synergy FX really set the self apart from the market with their excellent customer care. I would like to thank Daniel personally for his prompt service and response to all my students.
 
Sam Beningfield,
Sydney, Australia,
Jan 21, 2014,
Guest

I have been trading with Synergy for 3 months via the ECN account, the brokerage simply does what it's supposed to do, execute trades without intervention and with tight pricing. No dramas with them, although it appears the company is yet to expand as not many know of it.
 
Glen,
, Australia,
Oct 24, 2013,
Guest

I wouldnt recommend synergyFX. I had MANY problems with them. They seem to be winging it along as they go. There are much better brokers in Australia. They have many excuses and i didnt realise i had to baby sit them along the way. Really guys dont bother as after 12months i have had enough of the issues.
 
Yipeng Zeng,
Liverpool, United Kingdom,
Aug 21, 2013,
Guest

So here is the most recent update: after numerous calls and warning letters about legal actions to the bank, I finally received a call from the bank on 19th August telling me they'd release my funds while the 'case' being looked into by them. I guess the bank has finally done something and realized I shouldn't be the one to suffer no matter which chain triggered the problem. So at least I've got my funds for now, but still unsure which party caused the whole mess which I can't tolerate.

Meanwhile, I keep receiving calls from Synergy FX suggesting me to remove all the commends as they 'don't want any drama' and they're 'losing business because of this'. As much as I understand their position and it's not my intention to cause any unfair harm to Synergy Fx's business, I strongly believe it's my right and responsibility to keep the public aware of the facts which should do justice to both Synergy and me - after all, even I am willing to believe Synergy Fx is a decent broker which has no intention to act dishonestly, still the incident has happened to me and the real reason is yet to be revealed; most importanly, according to Synergy Fx's '60 days of funds holding period policy', it's still one month away to see if my remaining funds (over 30000 EUR currently) can be withdrawn hassel-free, which is the ultimate test for this broker.

So I'd suggest you to go ahead and trade with Synergy Fx if you find their conditions attractive with your own research, and I will keep you guys updated when I withdraw my remaining funds in about a month.

2013-08-12 3Star So this is what happened after my last post about Synergy Fx: obviously they have noticed the poast and are unhappy about it, so I received an urgent call from my personal account manager Shen around 3:30 am UK time on 09/08/2013, informing me they'd close my account and take potential legal actions against me as 'I've posted false reviews against Synergy Fx online', and I 'must immediately remove it'. Later on the day I received an email from their compliance team warning me the same. As my situation is still not resolved and my bank still insist they're 'waiting for the other side's response', I refused to remove my post unless any new information or convincing explanation comes up.

BTW, since my problem with the bank happened, I've communicated with my bank, Synergy Fx and even Commonwealth Bank of Australia quite often, and each party insist they've doing things correctly. Synergy Fx stated again they never reported the withdraw transaction to the bank as fraudulent and they'd instructed Commonwealth Bank of Australia to release the payment on 01/0802013. However according to my bank, no such instruction has reached them yet.

Since Synergy Fx is the direct party ordering the payment, logically I'd blame them for the situation, as I assumed there's no point for banks to cause such drama. However today after a long constructive phone conversation with Christian the Director of Synergy Fx, I began to accept there might be other reasons. According to his explantion, as I am from UK and I deposited my funds by debit card which was used to make several large amount of payment to them in a short period of time, it's flagged by their merchant bank Commonwealth bank of Australia as 'suspicious activity' and reported to Synergy Fx (I was advised to do so when I was funding and not warned). Also before I trade quite often and requested profit withdraw soon after my deposit, it makes me more 'suspicious' to their regulator. Thus they would have to keep my profit for 60 days untill it can be withdrawn as 'every regulated broker in the world'. I cannot confirm if this explanation is legit or not, though it sounds plausible; however Christian does sound professional and geniune this time, willing to help me solve the problems as he can, on the condition I remove my 'unfair accusation against Synergy Fx'. I pointed out to him that I am responsible for the words I said as it did look like 'scam' at my side as I was told by their staff several times that I can withdraw my profit by bank wire after my initial deposit is returned to my card, even in the 60 days period. And when I tried to do so, suddenly my funds and account were frozen by bank, giving the reason they have 'received report from the sending bank which was instructed by the sender', how would that make me feel if not 'scamed'?

I still cannot confirm what exactly happened and which side (bank or Synergy Fx) has caused such situation, however I am willing to believe Christian at this stage that it's just 'possible miscomminucation by his employee' which he's gonna look in, also I am about to call up the banks again to get more information, hoping it could clarify the situation and solve the problem both for me and Synergy Fx.

So I hold back my former accusation of 'scam' 'against Synergy Fx for now and would update as soon as I get more information.
  1 trader has found this review helpful
Reply by Synergy FX Team submitted Aug 22, 2013:
Synergy is a fully licensed and compliant brokerage. We take funding procedure extremely seriously and existing and potential clients should be confident that their funds are treated in a fully professional manner in accordance with rules and regulations. Synergy disclose all of its Terms and Conditions before any customer may make a payment by credit card. In an attempt to avoid Identity Theft and to protect law abiding card holders, Synergy employ Market Best Practices. In this case Mr Zeng?s original funding had been flagged by the merchant service provider (i.e. the credit card processor) as potentially ?suspicious? ? NOT by Synergy. Synergy followed regulation, accepted the money and monitored the situation. Initial profits made by Mr Zeng were payed to him in accordance with procedures as refunds back to the original card that was used to fund the account. Mr Zeng has then requested further withdrawals to his bank account without adherence to the holding period designed to protect card holders that he has agreed with at point of funding, *please see below for the Terms and Conditions which Mr Zeng agreed to during his funding process. Mr Zeng has fully agreed to the Terms and Conditions and has still attempted to withdraw funds contrary to this agreement and made his accusations against Synergy through his posts when Synergy has done nothing wrong. Synergy has NEVER refused payment to Mr Zeng and Synergy has never accused Mr Zeng of being fraudulent in any way. Synergy has done everything in its power to help Mr Zeng with the problem he has with his bankers, including offering to speak directly with his bankers. Mr Zeng remains an active client of Synergy and is currently making healthy profits from his trading activities. Synergy will not breach its internal compliance procedures, and will not refuse any withdrawal post the 8 week holding period expiry for accounts funded by credit cards. Identity Theft and Online Fraud are very serious activities against which Synergy has regulatory obligations as well as a duty of care and will maintain the status of a vigilant Corporate Citizen. Synergy has very strict Privacy Policy rules and as a generalisation does not post on forums. In this case we have sought legal counsel and the advice given to us is to make a response to Mr Zeng?s comments, after we have completely explained the situation to Mr Zeng and requested that he remove the accusation of Synergy being a ?scam?, and remove his post. *Synergy Credit Card Funding Terms and Conditions Credit Card Verification: Accounts funded via credit card will be restricted by not being able to make withdrawals for a period of time to ensure the validity of the credit card used. Initial deposits made with a credit or debit card will require a colour copy of the front and back of the card to confirm ownership. The cardholder's first and last name, as well as the last four digits of the card, must be legible in order for the card to be acceptable. ? Withdrawal requests will only be processed to a bank account in your name upon submission of a bank account statement as proof ? The credit card deposit cannot be withdrawn for a period of 8 weeks (to reduce chargeback risk). Risks associated with funding by Credit Card: You accept that if you are funding an account to trade a leveraged product you may be exposed to a greater risk of entering into financial difficulty, should you experience trading losses, than if you fund your account with a cash wire transfer. By funding with a credit card you may expose yourself to ?double leverage?.
John Hamilton,
Carrickfergus, United Kingdom,
Jul 1, 2013,
Guest

I used to trade with FX Synergy for about 3 months early this year. I found them to be a pretty solid broker. Not award winning but solid. Execution was fast and the spreads pretty tight. Never had any great emergency to test out their support with so can't comment on it.

All in all a pretty it was a good experience. I have since moved on due to the banking fees though. I am based in the UK and I have found cheaper alternatives closer to home.

I do find these poor reviews fascinating. I would love to know what the full 'actual' stories were. I've traded plenty of brokers and am yet to have a horror story. Maybe that is because I have realistic expectations of what a broker can or can't do in an live active market.. or maybe I've been lucky to date!
 
James,
Sydney , Australia,
Jun 28, 2013,
Guest

I've been trading with them for the past 6 months and haven't had any issues. I decided to post because I see that there are quite a few synergy haters out there and for my mind they're 100% legit.

Easy deposits and withdrawals. Spreads and execution are also great.

Service is a little sub-par, but I can live with it.