sydfx.io (SydneyFX) has been flagged by ASIC (Australia) for "Unlicensed". Phones: 61251108310, 442030317771, 14386197377
Addresses: 327 Archbishop Makariou Limassol 3106 Cyprus This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: sydfx.io.
I am in a dispute with sydfx.io (SydneyFX) over a trade that was clearly erroneous. The price shown was wrong, I closed at a profit, and they reversed the trade and took the money back. They said it was a system error. So I lose and they keep? Unacceptable.
Pros: Educational resources|API access
Cons: Help articles are sometimes vague
I have been trying to close my account with sydfx.io (SydneyFX) for weeks now and they keep giving me the runaround. First it was a form to fill out, then identity verification again, then a mandatory phone call that never gets scheduled. They make leaving impossible.
Pros: Fast execution|Clear documentation|Detailed reporting|Portfolio tracking tools
Cons: Mobile app could be improved|Minimum deposit could be lower
The platform itself is okay, but the customer service at sydfx.io (SydneyFX) is truly awful. I waited weeks for a response to a simple inquiry. When they did respond, it felt like a generic template that did not address my specific issue at all.
Pros: Tax reports included|Demo account available|Risk management tools|Real-time alerts
Cons: Limited demo account features|Minimum deposit could be lower
Their two-factor authentication was optional when I joined. I enabled it. Later I lost my phone and could not log in. sydfx.io (SydneyFX) recovery process took 3 weeks and required notarized documents. By then I had missed important trades. Their security is your inconvenience.
Pros: Good analytical tools|Competitive fees|Risk management tools|Fast execution
Cons: Desktop app not available on Linux
The reporting at sydfx.io (SydneyFX) is laughably bad. Tax documents are inaccurate, transaction histories have gaps, and trying to export data for your accountant is a nightmare. For a financial platform, getting the numbers right should be the bare minimum.
Pros: High security standards|Personal attention|Intuitive for beginners
Cons: Search feature is basic
The spread at sydfx.io (SydneyFX) is not what they advertise. During volatile markets it widens so much that you lose before the trade even starts. I found them after a trusted YouTuber reviewed them and initially thought the platform was good - until I started trading seriously.
Pros: Market news feed|Fast execution|Easy withdrawals|Demo account available
Cons: Wait times can be long during peak hours|Help articles are sometimes vague
My card was charged twice by sydfx.io (SydneyFX) on the same day. I had to dispute it with my bank. sydfx.io (SydneyFX) then froze my account and said I had a negative balance because of the chargeback. They created the problem and then punished me for it.
Pros: Dedicated account manager|Dividend tracking|Excellent charting
Cons: Some tools only available on higher tiers
I wanted to transfer my portfolio from another broker to sydfx.io (SydneyFX). They said they do not accept in-kind transfers for my asset type. I had to sell, withdraw, deposit, and rebuy - incurring taxes and spread costs. They did not tell me this before I signed up.
Pros: Social trading features|Responsive team
Cons: No phone support on weekends|No dark mode on mobile
If you are reading this considering sydfx.io (SydneyFX) - run. I wish I had read more negative reviews through a podcast recommendation. I thought the positive ones were real. Maybe some are. My experience over for a couple of months now has been so bad I feel obligated to warn others. Do not make my mistake.
Pros: Low minimum deposit|Regular platform improvements|Transparent fees|High security standards
Cons: No integrated tax optimization
sydfx.io (SydneyFX) seems more interested in acquiring new customers than taking care of existing ones. The marketing is aggressive but the product is mediocre. Once you are past the honeymoon period, the cracks in their service become very apparent.
Pros: Dividend tracking|Comprehensive tools|Easy to use platform|Responsive team
Cons: Alert system is basic