ZFX Broker Review 2024
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $50
- Zeal MT4 Desktop
- Zeal MT4 Mobile
- FCA
- FSA
- 2019
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $50
- Zeal MT4 Desktop
- Zeal MT4 Mobile
- FCA
- FSA
- 2019
Our Evaluation of ZFX Broker
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
ZFX Broker is a broker with higher-than-average risk and the TU Overall Score of 4.78 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by ZFX Broker clients on our website, Traders Union expert Anton Kharitonov recommends users to consider a more reliable broker with better conditions, as, according to reviews, many clients of this broker are not satisfied with the company’s work.
The ZFX broker offers tight spreads only to owners of ECN accounts. However, the minimum deposit size is $1,000 on accounts of this type. For this reason, beginners and investors without a capital reserve have to trade from standard accounts with high spreads, which does not make ZFX the best choice for beginner traders.
Brief Look at ZFX Broker
The ZFX is an NDD, STP, and ECN broker headquartered in London. It has been providing online FX and CFD trading services since 2016. It is regulated by the British FCA (768451) and Seychelles supervisory authority FSA (SD027). Traders from Europe, Asia, and Africa can trade currency pairs, indices, stocks, and commodities on the ZFX platform. The broker is part of the Zeal Group of fintech companies specializing in liquidity solutions for regulated markets in major regions of the world.
- Execution of trades without going through a dealing center and liquidity from major financial institutions.
- Regulation by the FCA (UK) and the FSA (Seychelles).
- Mini Trading Account with a minimum deal size of 0.1 lot and deposit from $50.
- A humongous array of accounts for retail and professional clients.
- Tighter spreads (from 0.2 pips) on ECN accounts.
- Ability to trade over 100 assets, including Forex, stock indices, commodities (precious metals and crude oil), and stocks.
- High leverage (up to 1:500) on standard and ECN accounts.
- Lack of a web-based trading platform.
- Hefty $1,000 deposit for retail traders on ECN accounts.
- The maximum number of open positions in Standard and ECN accounts is limited and cannot exceed 200.
TU Expert Advice
Financial expert and analyst at Traders Union
The ZFX broker is part of the Zeal Group and is only five years old with its headquarters in London. During that time, the brokerage has opened a representative office in Seychelles and several offices in Europe and Asia. However, its management limits the sphere of activity of each subdivision. The broker is regulated by FCA as well as FSA Seychelles.
The ZFX brokerage strives to meet the needs of traders of all experience and asset levels. Cent accounts from $50 and up are available to beginners and traders wishing to test the broker's terms and services. More experienced traders can make transactions on Standard accounts after depositing $200. The broker also offers ECN accounts to both retail traders and professionals.
- You prefer direct trade execution, bypassing intermediaries like dealing centers. This ensures faster execution and potentially lower costs.
- You want an access to liquidity from significant financial entities, competitive pricing, and reliable order execution. These features are crucial for active traders.
- You expect tighter spreads on ECN accounts starting from 0,2 pips on ECN accounts, enhancing your trading efficiency and potentially maximizing your profits.
- You prefer the convenience and accessibility of a web-based trading platform, as this broker may not be able to provide that to you.
- You are searching for brokers having low deposits as retail traders might find the $1,000 deposit requirement for ECN accounts prohibitive, especially if they prefer a lower initial investment or want to manage risk more cautiously.
ZFX Broker Summary
Your capital is at risk. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A high percentage of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
| 💻 Trading platform: | Zeal MT4 Desktop, Zeal MT4 Mobile (iOS and Android) |
|---|---|
| 📊 Accounts: | Demo, Mini Trading Account, Standard STP Trading Account, ECN Trading Account, and Professional Account |
| 💰 Account currency: | USD |
| 💵 Replenishment / Withdrawal: | Credit and debit cards, bank transfer, electronic payment systems such as Neteller, Perfect Money, and Skrill |
| 🚀 Minimum deposit: | From $50 for retail clients, from $10,000 for professional clients |
| ⚖️ Leverage: | Up to 1:100 for professional clients, up to 1:2000 for retail traders |
| 💼 PAMM-accounts: | Yes |
| 📈️ Min Order: | 0.01 |
| 💱 Spread: | From 0.2 pips |
| 🔧 Instruments: | Currency pairs, CFDs on stocks, indices, commodities (oil, gold, silver, copper) |
| 💹 Margin Call / Stop Out: | Stop out: 20%/30%/50% |
| 🏛 Liquidity provider: | Not indicated |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | Market, buy limit, buy stop, sell limit, sell stop, trailing stop |
| ⭐ Trading features: | ECN accounts for currency pairs may incur additional commissions per trade |
| 🎁 Contests and bonuses: | Yes |
The ZFX broker offers cent, professional, STP, and ECN accounts with diverse leverage levels and trading fees. Retail traders can start with a deposit of $50 and professional traders from $10,000. Transactions with currency pairs and CFDs on stocks, indices, and commodities are available to the clients via MetaTrader 4 desktop and mobile terminals. You can test the broker’s trading conditions using a demo account; the conditions are identical to those of ZFX’s real accounts.
ZFX Broker Key Parameters Evaluation
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Trading Account Opening
There are several steps to register as a ZFX customer. Follow the instructions below:
Visit the official ZFX website and at the top of any of its pages, click the “Open an account” button.
In the registration form that opens, enter your personal information, email address, phone code of your country of residence, and mobile number. Next, devise a strong password.
Then go to your personal account and click MyZFX and provide your email address and password.
The following functions are available to the owner of a ZFX personal account:
These functions are all possible from the trader’s personal account:
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Fund management such as payment operations and account management.
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Trading such as balance inquiry, equity, and placing leverage on open accounts.
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Request a different leverage level, and access to open live, and demo accounts.
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Referred client data such as information on the number of attracted clients, their trading volumes, the amount of available and previously withdrawn bonuses.
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Reports such as the history of all deposits and withdrawals, open and closed orders for a selected period, and changes in leverage.
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Personal Information — edit personal data, details of your verification.
Regulation and safety
ZFX is the trade name of Zeal Capital Market (UK) Limited, which is authorized and regulated by the Financial Conduct Authority (FCA), under this FRN: 768451 number. It is registered in England and Wales under number 10219924 and is part of the Zeal Group holding company, which also includes Zeal Capital Market (Seychelles) Ltd, a division licensed by the Financial Services Authority of Seychelles (FSA) under number SD027.
The British branch of ZFX participates in the Financial Service Compensation Scheme (FSCS). According to its terms, in case of the broker's default and its liquidation each of its clients automatically receives compensation up to £85,000.
Advantages
- Client funds are segregated from ZFX corporate funds and deposited in separate accounts at very large banks
- Professional traders are available for compensation under the FSCS scheme
- The broker strictly fulfills the obligations spelled out in its legal contracts
Disadvantages
- It is not possible to withdraw funds from FCA-regulated accounts to cards and e-wallets
Commissions and fees
| Account type | Spread (minimum value) | Withdrawal commission |
|---|---|---|
| Mini Trading Account | From $15 | No |
| Standard STP Trading Account | From $13 | No |
| ECN Trading Account | From $2 | No |
| Professional Account | From $2 | No |
There are swaps commissions (fees for transferring a position to the next day).
Below is a comparative table that shows the average commission for trading ZFX, RoboForex, and FxPro, and also the level of charges of each broker compared to its competitors.
| Broker | Average commission | Level |
|---|---|---|
|
$8 | |
|
$1 | |
|
$8.5 |
Account types
This broker offers four types of accounts that differ in deposit size, maximum leverage, and spread. To trade on any of the accounts, the MetaTrader 4 terminal integrated with ZFX is used. Mini, Standard, and ECN accounts can be opened at the division regulated by the Financial Services Authority of Seychelles. Professional Accounts are handled by the UK branch, which operates under the supervision of the FCA.
Account types:
Demo Accounts are available on both desktop and mobile terminals.
ZFX is a broker that offers services to different types of clients. At the same time, accounts for retail traders are serviced by the division with offshore registration. Only the products regulated by the FCA division are available to professional clients.
Deposit and Withdrawal
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To withdraw funds from ZFX, complete an application form in the MyZFX cabinet (personal account) on the company's website.
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The request is considered even if you have open positions. If there is not enough money to cover the margin after you withdraw your remaining funds, the orders will be closed by Margin Call.
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Before applying for a withdrawal, make sure that your verification has been completed and approved.
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Withdrawal of funds for retail clients is carried out by bank transfer, bank card, and e-wallet. For professional traders, only by bank transfer. The broker credits the money within 24 hours after approval of the withdrawal request.
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The minimum withdrawal amount is 15 USD; and no commission is charged. Funds can be converted to cryptocurrency during withdrawal.
Investment Options
Investment Programs, Available Markets and Products of the Broker
The ZFX broker offers favorable conditions for active trading and passive investing. Its MT4 terminal allows traders to work with PAMM and MAM accounts. Thus beginners without experience can earn passive income by trusting their capital to competent and professional managers.
Multi-Account Manager (MAM) is a trust management account to earn passive income
Any ZFX client interested in investing profits can sign an agreement with the chosen asset manager in which the performance fee is agreed upon in advance. The MAM account includes performance, management, and trading fees. In this case, the broker himself does not participate in the MAM, but only acts as a custodian of the funds and a guarantor that the manager and the investor receive the agreed percentage. The investor can fully control his account.
The methods of profit distribution when working with MAM service are:
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in proportion to equity;
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in proportion to the balance;
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percentage distribution;
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profit and loss allocation (percentage or proportional).
All MAM account managers can set various types of MT4 orders (stops, limits, trailing stop, group order, etc.), use expert advisors, and automated strategies. Investors in turn can control positions in real-time and monitor profits and losses of managed accounts.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
ZFX’s affiliate program
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Marketing Affiliates. For the most effective cooperation, the company provides access to advertising banners to be placed on websites and social networks to attract clients via its affiliate portal.
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Introducing Broker. The IB program is for individuals and financial institutions. It allows the introducing brokers to work under the ZFX brand. The company offers an experienced team of specialists who assists the IB's clients.
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Fund Managers. They oversee the professional MAM (Multi-Account Manager) and PAMM (Percentage Allocation Management Module) accounts.
Partners can track the number of clients who open an account using referral links and their activity through their personal accounts.
Customer support
The UK branch answers questions from Monday to Friday from 09:00 to 18:00 (UK time). Retail traders serviced by the Seychelles office have 24-hour support available any day of the week.
Advantages
- Retail traders are serviced 24/7
- Online chat is available in 8 languages
Disadvantages
- Only professional clients can contact the broker by phone
- Call-back orders are not possible
The list of available channels of communication with broker representatives depends on the client's status and the selected unit. They are:
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professional clients can use phone and email to contact them;
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retail traders can use online chat, request by email directly or through the ready-made contact form in the Contact us section.
Company representatives answer unregistered users' questions via chat, phone, email, as well as via the messenger services of Facebook, Instagram, Twitter, or LinkedIn.
Contacts
| Foundation date | 2019 |
|---|---|
| Registration address | 4 Lombard Street, London, EC3V 9HD |
| Regulation | FCA, FSA |
| Official site | https://www.zfx.co.uk/ |
| Contacts |
Education
The Zeal Capital Market (UK) website has no training because it is designed for professionals who have substantial experience in the Forex market. On the Zeal Capital Market (Seychelles) website, training is presented in the Academy and FAQs sections. The information in the Academy block is divided into three levels: Beginner, Intermediate and Advanced.
The broker offers cent accounts that allow you to practice trading on the financial markets with minimal risk. Traders who don't want to risk their funds can practice on demo accounts.
Comparison of ZFX Broker with other Brokers
| ZFX Broker | RoboForex | Pocket Option | Exness | TeleTrade | IC Markets | |
| Trading platform |
Zeal MT4 Desktop, Zeal MT4 Mobile | MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader | Pocket Option, MT5, MT4 | Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 | MT4, MT5 | MT4, cTrader, MT5, TradingView |
| Min deposit | $50 | $10 | $5 | $10 | $1 | $200 |
| Leverage |
From 1:1 to 1:2000 |
From 1:1 to 1:2000 |
From 1:1 to 1:1000 |
From 1:1 to 1:2000 |
From 1:1 to 1:10 |
From 1:1 to 1:500 |
| Trust management | Yes | No | No | No | No | No |
| Accrual of % on the balance | No | No | No | No | No | No |
| Spread | From 0.2 points | From 0 points | From 1.2 point | From 1 point | From 0.8 points | From 0 points |
| Level of margin call / stop out |
50% / 20% | 60% / 40% | 30% / 50% | No / 60% | 70% / 20% | 100% / 50% |
| Execution of orders | Market Execution | Market Execution, Instant Execution | Market Execution | Market Execution, Instant Execution | Market Execution, Instant Execution | Market Execution |
| No deposit bonus | No | No | No | No | No | No |
| Cent accounts | Yes | Yes | No | No | No | No |
Detailed Review of ZFX
The ZFX brokerage is an STP and ECN intermediary which offers non-dealer executions, competitive spreads, and the full range of classic MetaTrader 4 features. The company is headquartered in London but has offices worldwide such as in Moscow, Abu Dhabi, Hong Kong, Bangkok, Taipei, Ho Chi Minh City, and Jakarta. ZFX has a relentless focus on finding the best prices in the institutional markets by using cutting-edge technology and guaranteeing clients transparent pricing.
The ZFX broker by the numbers:
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Has provided online FX and CFD trading services for over 5 years.
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Has 8 offices worldwide.
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Offers more than 100 financial instruments for trading.
ZFX is a multi-purpose broker for FX and CFD trading
The company seeks to provide favorable trading conditions for beginners and professionals, private and institutional clients, and active traders and passive investors. Its clients can trade currency pairs (major, minor, and exotic) and CFDs on shares and indices. Transactions with CFDs on commodities, including oil and precious metals, are also available. The terminal provided by the ZFX broker supports not only market orders, but also trailing stop, buy limit, buy-stop, sell limit, and sell-stop indicators.
ZFX offers MetaTrader 4 desktop and mobile platforms that support a wide range of technical indicators, including charting, and one-click trading. Automated trading managed by expert advisors is also available. The broker does not provide web terminals, so its clients must download and install MT4 on a PC, laptop, or mobile device to start trading.
Useful services of ZFX:
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Economic Calendar.
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Financial news that is contextualized for the Forex market.
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Current market overviews including analytics, daily forecasts, stock, Forex, gold, and oil market analysis.
Advantages:
Low margin rates for hedged positions.
Broker does not charge fees for deposits or withdrawals.
Only on its Mini Account and Standard STP Account are commissions charged against the spreads.
Retail traders can trade with leverage up to 1:2,000.
The company provides a powerful trading platform that processes an average of 50,000 orders per second.
The minimum deposit to start trading is $50.
All ZFX accounts are traded at the best bid and ask prices obtained from institutional liquidity providers.
User Satisfaction