SINEGY Marketplace Logo
Exchange Review

SINEGY Marketplace


Exchange Fees

Withdrawal Fee 0.05% Taker Fee 0.50% Maker Fee -0.25%

Deposit Methods

Yes Wire Transfer No Credit Card


Cryptos (3)

SINEGY Marketplace is a cryptocurrency exchange registered in Malaysia. It has been operational since 2020. The only cryptocurrencies offered at this platform are BTC, ETH and XRP (Bitcoin, Ethereum and Ripple).

The platform highlights the following four things as advantages with the platform: live support, trading fee discount (see more on this below under SINEGY Marketplace Trading Fees), cold storage security and the option to start corporate accounts. We can see the benefit of all of these advantages. Under the point Cold Storage Security, the platform only states that they have the "majority of your digital assets" in cold storage. Normally, the percentage is between 95-100. Majority, technically speaking, is anything above 50%, so the statement is in and of itself not particularly comforting.

SINEGY Marketplace Advantages

Every trading platform has a trading view. The trading view is the part of the exchange’s website where you can see the price chart of a certain cryptocurrency and what its current price is. There are normally also buy and sell boxes, where you can place orders with respect to the relevant crypto, and, at most platforms, you will also be able to see the order history (i.e., previous transactions involving the relevant crypto). Everything in the same view on your desktop. There are of course also variations to what we have now described. On the date of first writing this review (19 February 2021), we were not able to obtain a picture of the trading view at SINEGY Marketplace. We apologize for any inconvenience this may cause. We promise that we will post a picture of the trading view as soon as we are able to obtain one.

SINEGY Marketplace also offer a function that they call the "Arb Scanner", short for Arbitration Scanner. Arbitrage, sometimes shortened to ARB, involves the purchase and sale of identical assets at the same time. This gives traders the chance to profit from a mismatch in their prices. Arbitrage may sound easy, but finding the right arbitrage opportunity and executing it proficiently can be quite a challenge. That being said, there are huge benefits to the strategy, such as the low or non-existent risk on the trades.

Arbitrage can be conducted on any asset which trades for differing amounts on at least two exchanges. It can be done with financial securities, foreign exchange, gold and other metals, short term interest rates, commodities, and even cryptocurrencies. Where there are multiple markets trading in the same assets, there will be arbitrage opportunities.

The below is a picture of the interface of the Arb Scanner at SINEGY Marketplace. It really makes to make finding the right arbitrage opportunity and executing it proficiently a lot easier. We like it a lot!

SINEGY Marketplace Arbitration Scanner

Every time you place an order, the exchange charges you a trading fee. The trading fee is normally a percentage of the value of the trade order. At this exchange, they divide between takers and makers. Takers are the one who “take” an existing order from the order book. Makers are the ones who add orders to the order book, thereby making liquidity at the platform.

SINEGY Marketplace charges takers 0.50% per trade. These taker fees are substantially above the global industry averages for centralized exchanges. Sure, industry averages have historically been around 0.20-0.25% but we now see new industry averages emerging around 0.10%-0.15%. According to the latest empirical study on the subject, the industry average taker fees were 0.217% and the industry average maker fees were 0.164% (for spot trading). Accordingly, as for the spot trading taker fees, SINEGY Marketplace's offering is not competitive.

But what about the maker fees? Well, SINEGY Marketplace actually offers so called negative maker fees (-0.25%). This means that the makers, i.e., the people creating the new buy or sell orders in the order book, get paid to trade.

For example: you are a maker. You create an sell order for Bitcoin, where you sell a certain amount of Bitcoin for USD 10,000. A buyer comes along and accepts your order. You were then the maker in this trade (the buyer was the taker). If the maker fee was -0.25%, as it is at SINEGY Marketplace, you would not only get USD 10,000, you would also receive an additional 25.00 USD on top of that.

There aren’t that many exchanges that offer negative maker fees. To see them all and compare them against each other, just check out our Exchange List.

SINEGY Marketplace has percentage based withdrawal fees (0.05%). This means that just as with the trading fees, the fee charged when withdrawing from the platform is a percentage of the relevant amount. For trading fees, the fees are a percentage of the traded amount. For withdrawals, the fees are a percentage of the withdrawn amount. Essentially all crypto exchanges in the world have percentage based trading fees, but out of the 700+ exchanges we have listed in our Exchange List (and that have died and been moved to our Exchange Graveyard), only 15-20 have charged percentage based withdrawal fees. The rest have fixed fees (e.g. around 0.0005 BTC per BTC-withdrawal). So it’s quite unusual to have the withdrawal fee model that SINEGY Marketplace has.

With the fee model that this exchange has, when you withdraw small amounts, it is beneficial to you. If you withdraw 0.01 BTC, the withdrawal fee becomes 0.000005 BTC (extremely low and very consumer-friendly). However, if you withdraw 10 BTC, the withdrawal fee becomes 0.005 BTC (extremely high). You should consider yourself whether this withdrawal fee suits your own trading or not.

In addition to depositing cryptocurrency to the platform, SINEGY Marketplace also lets you deposit fiat currency. However, only through wire transfer (not credit or debit card). Seeing as fiat currency deposits are possible at this trading platform, this platform qualifies as an “entry-level exchange”, making it an exchange where new crypto investors can start their journey into the exciting crypto world.

Why do so many exchanges not allow US citizens to open accounts with them? The answer has only three letters. S, E and C (the Securities Exchange Commission). The reason the SEC is so scary is because the US does not allow foreign companies to solicit US investors, unless those foreign companies are also registered in the US (with the SEC). If foreign companies solicit US investors anyway, the SEC can sue them. There are many examples of when the SEC has sued crypto exchanges, one of which being when they sued EtherDelta for operating an unregistered exchange. Another example was when they sued Bitfinex and claimed that the stablecoin Tether (USDT) was misleading investors. It is very likely that more cases will follow.

As far as we have been able to ascertain, SINEGY Marketplace does in fact accept US-investors. We do urge any US investors to form their own opinion on the permissibility of their trading at SINEGY Marketplace though.