- Standard brokerage fee
- Available markets
- ASX, USA
- Phone, Email, Live chat
Syfe is limited in the number of offerings it provides its customers, but what it does do, it does very well. If you sign up to Syfe you get access to cheap trading in US shares, the ASX, exchange-traded funds (ETFs) and the major cryptocurrencies.
And for the most part, this should be enough for investors who are just starting out.
It also has a host of educational features and a strong support network to help you throughout the investing process.
However, for investors in multiple countries, up-and-coming cryptos or for those who need advanced tools, this might not be for them.
Low cost brokerage
Access to the ASX, US markets and major crypto assets
An all-in-one platform
Limited markets: You can only trade, ASX, US stocks and 20 cryptocurrencies
Trading tools: You'll get access to the basics only
|Type of broker||Mobile|
|ASX products||Shares, Exchange traded funds|
|Available markets||ASX, USA|
|Standard brokerage fee||US$1.49|
|Support||Phone, Email, Live chat|
Syfe first launched in Singapore in 2019 and has since grown its customer base there by 100,000. Now it's planning to break into the competitive Australian market by offering a single "all-in-one" mobile platform.
Syfe allows investors buy and sell more than 2,200 ASX stocks and ETFs.
Invest in US shares and ETFs
Syfe gives you access to the US market means you'll only be able to invest in over 10,000 US stocks and ETFs through the broker.
Invest in crypto
You can also invest into 20 of the largest cryptos through Syfe.
Have all your investments in one place
Going hand in hand with the above 2 features, and perhaps Syfe's biggest advantage over other providers, is that it's an all-in-one platform. This means you can trade both stocks and crypto on the same platform.
Invest for less
Syfe has competitive brokerage fees across both ASX and US stocks and ETFs, making it one of the cheapest trading platforms out there.
Real-time news and data
The broker provides some basic news and data insights to its members. You'll be able to stay up to date with live markets and stock news from the Dow Jones, Wall Street analysts' recommendations and key financial metrics to track and compare investments.
These range from beginner guides to stocks and crypto right through to strategies and tips to help grow your portfolio.
Syfe highlights that it has bank-level encryption, multi-factor authentication and asset protections, lowering the risks when it comes to your money.
No need to get a crypto wallet
A nice additional feature with Syfe is that you can hold crypto assets without needing to go through the hassle of setting up a crypto wallet.
Daily customer support
Syfe provides daily customer support through its online platform. The provider also offers support via phone, email and live chat.
You can start investing from as little as $1 through fractional investing on US stocks and ETFs. This means you can take up part ownership of a share.
When it comes to trading Australian stocks, you can also trade for less, starting from just 1 share.
Is it safe for beginners?
For beginner investors looking to get into ASX, US shares or some of the larger crypto assets, Syfe ticks a lot of boxes.
This is because it has a bunch of educational resources to help you get started as well as allows for fractional investing. Combined, this should allow for newer investors to gradually start their investment journey.
Who should use it?
Syfe will largely appeal to newer investors or those who have a longer time horizon. This is because a lot of what it does is tailored to this audience.
It also has lower starting limits. This again probably suits those who are starting out.
Even its format is retail investor focused. It doesn't have a lot of advanced features that traders would want, but it is easy to use.
Syfe runs off a flat fee model when it comes to Australian shares. You'll pay $A4.99 per trade.
- For trades under A$20,000 - brokerage is a flat fee of A$4.99
- For trades over A$20,000 - brokerage is 0.025% of trade value
US stocks and ETFs
Syfe runs off a flat US$1.49 per trade model. But you are buying and selling shares in the US. This means you will have to pay foreign exchange or forex fees. According to Syfe's website, forex fees start from 60 basis points.
Syfe charges a 1% transaction fee which is 0.5% in access fees and another 0.5% in commission fees.
No additional fees
Regardless of whether you trade crypto or US shares you won't be charged:
- Platform fees
- Withdrawal fees
- Account minimums or inactivity fees
If you're stuck, there are 4 ways to get support with Syfe:
- Frequently asked questions
- Chat with customer support 24/7
- Phone call
- Email support
How to get started
If you're looking to sign up to Syfe you'll need to follow a few basic steps:
- You'll need to add your basic contact information to be verified, including your email address and phone number. So have your phone handy.
- Decide how much you want to invest.
- Add in your banking information.
- You're now signed up.
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