Low-temperature (230 degrees C), slurry phase Fischer-Tropsch synthesis (FTS) was conducted with precipitated iron-silicon catalysts under industrially relevant conditions (flow=3.1 NI h(-1) g-Fe-1, H-2:CO=0.7, P=1.31 MPa). The effects of activation gas (hydrogen, carbon monoxide, or syngas) and promoters (potassium and copper) on activity and selectivity were explored. Optimum potassium promotion was 4-5 at%, relative to iron. Promotion with copper lowered the reduction temperature and increased FTS activity, regardless of the activation gas used. Carbon monoxide activation gave the highest activity for a 100Fe/ 4.4Si/5.2K catalyst (atomic percent, relative to iron) while syngas activation was superior for a 100Fe/4.4Si/2.6Cu/5.2K catalyst. Selectivity of the FTS product was not affected by the activation gas employed or copper promotion; however, potassium promotion increased wax and alkene selectivity. A syngas activated 100Fe/4.4Si/2.6Cu/5.2K catalyst gave the best overall performance at 230 degrees C. Alkene selectivity was >75% for the C-2-C-11 fraction, methane selectivity was <3 wt% and C-12(+) selectivity was >70 wt%.