ACYSecurities.com Review

2.064 · 43 REVIEWS

Formerly SynergyFx.com

Updated: Oct 12, 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 60 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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2.064 · 43 REVIEWS
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Traders Reviews

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.
 
Osmond,
NW, Netherlands,
Nov 7, 2012,
Guest

I have to agree with "Not so sure, NSW, Australia". When I have 3 good positions and prices are just standing, not moving as other brokers. The depcrepancy is almost 15 pips. As soon as I close my positions, their prices move to the normal level. This is cheating. People have warned me about this broker but I did not listen now I have nothing to do with this broker but to leave.
 
George,
Sydney, Australia,
Sep 27, 2012,
Guest

I contacted SynergyFX in Sydney and asked to visit their premises and meet the staff. I was told that was against company policy, however they could handle my enquiries by phone or email.

I can't in all honesty rate them, but I'm puzzled by Derek's rating.... Between us it should bring the rating to 3.

Derek says in his review "I operate a MAM account with Synergy FX. I selected this company after considerable due diligence which included actually visiting their premises and talking to many of their staff."
 
T.J.L.,
California, USA,
Aug 6, 2012,
Guest

SynergyFX is my favorite Aussie broker where my partner and I refer all non-US clients. We work very closely with their back office and they provide clients with exceptional support and very fast reporting for everyone. I strongly recommend this broker.
 
Karthik,
Chennai, India,
Jun 5, 2012,
Guest

Stay as far away from these scammers as possible. All that they can think of is money, money and more money. They only have 3-4 people working in their company and they work in shifts to give an appearance that they have a lot of employees. We dont have an account with them but we did a software project for them but they have refused to pay us for the project. The reason that they give is that they are 'very busy'. Dragged the project, a 45 day project, for 8 months in the guise of being 'very busy' and finally refused to pay up.

No ethics whatsoever. All they think of is how they can cheat you off your money. We have proof of everything and will be raising it to the FPA court very soon. Stay away. We did their backoffice project and so we have seen how they work, what data they steal and how they cheat their traders so that they can make money. We have seen their data and how they manipulate their feeds to cheat traders off their money. Stay away. There are loads of better brokers out there.
 
Derek,
, Australia,
May 27, 2012,
Guest

I operate a MAM account with Synergy FX. I selected this company after considerable due diligence which included actually visiting their premises and talking to many of their staff.
While mt4 is a somewhat restrictive environment for the trader and the broker, there is no doubt in my mind that Synergy FX makes the most of it and is up there with the best mt4 brokers.
They make their money from transaction commissions and so have their clients' best interests at heart simply because that coincides with their own best interests, unlike bucket shop mt4 market makers.
I find their staff from the top down extremely helpful. Any problems have been resolved quickly and efficiently.
I have almost 20 years trading experience, and have used many brokers, and I can honestly say Synergy FX has been one of the most professional.
My experience has been that the majority of mt4 clients have little understanding of market mechanics and broker procedures, and for several reasons are inevitable losers. It's dirty at the bottom of the pig pen, and easy to throw mud.
 
Rio, Brazil,
Jan 26, 2012,
Registered user

Do not believe anything they say are Synergyfx ECN access to the pool of liquidity, all lies.
When you make profits, they say it operated in on traded off-market pricing. Cancel your earnings and wax your account.
Scam scam scam. all documents.
Stay away from SYNERGYFX SCAM

More. Community discussion of this issue >>

 
wiosna,
, France,
Jan 2, 2012,
Guest

He has chosen to be an average MT4 broker. Spread 2, 3 pips on London open (on ecn account) plus $7 commission plus sleepage monster. Any utility.