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Top 5
7,0%
Top 10
5,0%
Top 20
1,0%
Top 40
0,5%
Top 100
0,2%
Top 100+
0,05%
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ZForex Review 2024
Minimum
deposit:
deposit:
- $10
Trading platform:
- MT5
Bonus for deposit:
- 0%
Minimum
deposit:
deposit:
- $10
Trading platform:
- MT5
Bonus for deposit:
- 0%
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Summary of ZForex Trading Company
ZForex is a high-risk broker with the TU Overall Score of 2.33 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by ZForex clients on our website, Traders Union expert Anton Kharitonov does not recommend working with this broker, as, according to reviews, most clients are not satisfied with the broker. ZForex ranks 382 among 414 companies featured in the TU Ranking, which is based on the evaluation of 100+ criteria and a test on how to open an account.
zForex is a brokerage company that is suitable for both novice and professional traders.
zForex is a retail brokerage company that has been providing online Forex trading services since 2022. The broker allows its clients to work with four assets, namely currency pairs, contracts for difference (CFDs), metals, and digital coins (cryptocurrencies). The representative office of the broker is located in Sofia, Bulgaria. Z Forex Capital Market LLC is authorized and regulated by the Saint Vincent and the Grenadines Commission under its reference number 2145 LLC 2022.
| 💰 Account currency: | USD and USDT |
|---|---|
| 🚀 Minimum deposit: | $10 |
| ⚖️ Leverage: | Up to 1:1000 |
| 💱 Spread: | From 1 pips for ECN, STD, and Islamic accounts |
| 🔧 Instruments: | Currency pairs, CFDs, gold, silver, platinum, palladium, and cryptocurrencies |
| 💹 Margin Call / Stop Out: | 100%/30% |
👍 Advantages of trading with ZForex:
- High transaction speeds;
- Fast work of trading platforms;
- 24/7 technical support;
- MetaTrader 5 (MT5) platform;
- Automatic tracking system of clients’ risks;
- Official regulation of activity.
👎 Disadvantages of ZForex:
- Limited number of assets;
- Absence of its own trading platform;
- Clients from Turkey, the U.S.A, and Europe can not trade with the broker.
Evaluation of the most influential parameters of ZForex
Geographic Distribution of ZForex Traders
Popularity in
79%
IN
13%
Others
User Satisfaction i
3 comments
Total score:
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Expert Review of ZForex
zForex has been providing retail services to traders since 2022. Despite the short time of existence, the broker managed to get a base of loyal clients. Traders have the opportunity to trade through the updated MT5 platform. According to the company, zForex is constantly striving to improve the service for its clients. The company also offers up-to-date asset trading software to provide its clients with the most optimal working conditions.
zForex offers three types of accounts, such as STD, ECN, and Islamic accounts. Leverage depends on the type of asset. It is up to 1:1000 for major currency pairs. The brokerage company comprehensively considers market risk factors and provides negative balance protection.
The broker conducts an audit to update the contact and personal information of its clients every six months. zForex has no hidden fees. Information on fees and spreads is publicly available. If you have any questions, online technical support will help you solve your problem as quickly as possible.
Dynamics of ZForex’s popularity among
Traders Union’s traders, according to 2023 data
Investment Programs, Available Markets and Products of the Broker
This broker does not offer programs for passive investment. It is not possible to work through PAMM or MAM accounts as zForex does not provide an opportunity to earn money on trust management of accounts. Only active trading is available here.
Important!
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.
Partnership program from zForex:
Introducing Broker (IB) from zForex is an opportunity to get partnership conditions for work. Users who register as IBs receive additional discounts on spreads, and clients referred by partners get the opportunity to use the services of a popular broker.
Traders working under the Introducing Broker program receive spread cashback. Payments under the partnership program are made every day to the partner’s user account. To start working as an IB, you need to register an appropriate account in your user account on the broker's website.
Trading Conditions for ZForex Users
zForex offers 4 assets for trading: currency pairs, metals, CFDs, and cryptocurrencies, tradable on the MetaTrader 5 platform. Traders have the opportunity to work with both STD (Standard) and ECN (Electronic Communication Network) accounts. Leverage is up to 1:1000 for major currency pairs. You can try trading strategies and test your knowledge using demo accounts. There are also Islamic accounts where traders can trade without swaps.
$10
Minimum
deposit
1:1000
Leverage
24/7
Support
| 💻 Trading platform: | MT5 (desktop, mobile, and web versions) |
|---|---|
| 📊 Accounts: | Demo, ECN, STD, and Islamic |
| 💰 Account currency: | USD and USDT |
| 💵 Replenishment / Withdrawal: | Bank cards Visa/MasterCard, cryptocurrencies, and WebMoney |
| 🚀 Minimum deposit: | $10 |
| ⚖️ Leverage: | Up to 1:1000 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | 0.01 |
| 💱 Spread: | From 1 pips for ECN, STD, and Islamic accounts |
| 🔧 Instruments: | Currency pairs, CFDs, gold, silver, platinum, palladium, and cryptocurrencies |
| 💹 Margin Call / Stop Out: | 100%/30% |
| 🏛 Liquidity provider: | Major banks |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | Market execution |
| ⭐ Trading features: | No fee for inactive account |
| 🎁 Contests and bonuses: | Yes |
Comparison of ZForex with other Brokers
| ZForex | RoboForex | Pocket Option | Exness | FBS | FxPro | |
| Trading platform |
MT5 | MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader | Pocket Option, MT5, MT4 | Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 | MT4, MobileTrading | MT4, MobileTrading, MT5, cTrader, FxPro Edge |
| Min deposit | $10 | $10 | $5 | $10 | $1 | $100 |
| Leverage |
From 1:1 to 1:1000 |
From 1:1 to 1:2000 |
From 1:1 to 1:1000 |
From 1:1 to 1:2000 |
From 1:1 to 1:2000 |
From 1:1 to 1:500 |
| Trust management | No | No | No | No | No | No |
| Accrual of % on the balance | No | No | No | No | No | No |
| Spread | From 1 point | From 0 points | From 1.2 point | From 1 point | From 0.2 points | From 0 points |
| Level of margin call / stop out |
100% / 30% | 60% / 40% | 30% / 50% | No / 60% | 40% / 20% | 25% / 20% |
| Execution of orders | Market Execution | Market Execution, Instant Execution | Market Execution | Market Execution, Instant Execution | Market Execution | Market Execution |
| No deposit bonus | No | No | No | No | $5 | No |
| Cent accounts | No | Yes | No | No | Yes | No |
Broker comparison table of trading instruments
| ZForex | RoboForex | Pocket Option | Exness | FBS | FxPro | |
| Forex | Yes | Yes | Yes | Yes | Yes | Yes |
| Metalls | Yes | Yes | Yes | Yes | Yes | Yes |
| Crypto | Yes | No | Yes | Yes | No | Yes |
| CFD | Yes | Yes | Yes | Yes | Yes | Yes |
| Indexes | No | Yes | Yes | Yes | Yes | Yes |
| Stock | No | Yes | Yes | Yes | No | Yes |
| ETF | No | Yes | No | No | No | No |
| Options | No | No | No | No | No | No |
ZForex Commissions & Fees
Information
The team of analysts at Traders Union explored the trading fees at zForex. Spreads are charged on Standard accounts. On ECN accounts, a fee of $3 per lot is charged in addition to the spread. No fee is charged for depositing funds to a trading account. There aren’t any non-trading fees.
| Account type | Spread (minimum value) | Withdrawal commission |
| STD | From $10 | No |
| ECN | From $10 | No |
There are swap fees for transferring a position to the next trading day.
Traders Union analysts compared the average trading fees of three brokerage companies: zForex, RoboForex, and PocketOption. The results of the comparative analysis are presented in the form of the table below.
| Broker | Average commission | Level |
| ZForex | $10 | High |
| RoboForex | $1 | Low |
| Pocket Option | $8.5 | Medium |
Detailed review of ZForex
zForex focuses on simplicity, speed, and functionality. The broker does not limit the strategies that can be used to trade on the markets. Traders get the opportunity to conduct automated trading or to trade manually. There are Islamic, Standard, and ECN accounts. To test a new trading strategy, you can use a demo account, securing funds on the main trading account.
zForex by the numbers:
-
More than 15 currency pairs;
-
Access to the Forex market with a turnover of over $5 trillion;
-
Trading is available 24/7.
zForex is a brokerage company for active trading and IB only
zForex allows you to trade not only on a Standard account. Every trader can create an ECN account that allows them to trade directly with liquidity providers. This ensures lower trading spreads. Clients of the brokerage company trade currency pairs, metals, and cryptocurrencies. Also, clients can choose the IB program as the main type of cooperation. You can trade through a web platform or download MT5 to your phone or computer.
Useful services offered by zForex:
-
Training center with educational videos and articles;
-
A quotes section updated in real-time;
-
A section with market data for each of the traded assets;
-
Daily and weekly analysis from expert traders.
Advantages:
1
Tight spreads for ECN and STD accounts;
2
Negative balance protection. The broker's algorithm continuously analyzes the risks;
3
Regular free analytics for traders;
4
Frequent update to the list of trading instruments;
5
4 asset types;
6
Convenient user accounts that can be customized.
Tutorials are available for all traders. The same applies to the opportunity to use a regularly updated analytics database.
Guide on how traders can start earning profits
zForex offers 2 account types. The maximum leverage for both trading accounts is 1:1000. The minimum deposit is $10 for both Standard and ECN accounts.
Account types at zForex:
Account Type
Description
STD
Spreads start from 1 pips. There are no additional trading fees. The execution type is market execution. Swaps are applied;
ECN
Spreads are from 1 pips. There is a fee of $3 per lot. Orders are executed by market execution. Swaps are applied.
zForex makes services available to traders of various categories.
Investment Education Online
Information
The zForex website has a separate training section for traders. It provides educational materials from professional traders.
Information available in the Academy section
Information not available on the zForex website
Review of indicators and turning points of Forex
Methods of indicator calculation
Information on major currency pairs
Review of currency pairs
Calculation of ATR (Average True Range)
Basics psychology of trading
Timing for opening/closing trades in Forex
Detailed review of CFDs
Detailed review of cryptocurrencies
Diversification of risks
The absence of cent accounts is partially compensated by demo accounts. Therefore, the acquired knowledge can be tested on a virtual zForex account without the risk of losing money.
Security (Protection for Investors)
Information
zForex is controlled by the authorized regulatory body of Saint Vincent and the Grenadines. A license that allows it to carry out brokerage activities legally was issued in 2022 under reference number 2145.
👍 Advantages
- All funds of clients are kept in separate accounts
- Automatic negative balance protection
- Clients can file a complaint to the regulator against zForex if there are any violations by the broker
👎 Disadvantages
- Additional verification of the trading account is required
- Few methods for deposits and withdrawals. To enlarge the number of available methods it is necessary to use third-party exchange services
- For IB cooperation, verification of the user account is required
Withdrawal Options and Fees
-
zForex accepts applications for withdrawal of any amount without restrictions. But to withdraw large amounts, an additional check for compliance with the AML (Anti-Money Laundering) requirements is conducted;
-
Funds can be withdrawn to bank cards, via the WebMoney electronic payment system, or in cryptocurrencies. The company does not charge any fees. Payment systems used to withdraw funds typically charge fees;
-
There are no requirements for withdrawals. Also, there are no profit target requirements to withdraw funds using one of the methods offered by the brokerage company;
-
Money that was mistakenly withdrawn from the balance can be refunded. The application is considered within 5 business days. The refund itself takes up to 30 days. To do this, you need to specify all identifying information and, at the request of technical support, attach the necessary documents.
Customer Support Service
Information
Client support managers of zForex are available 24/7. Offline support is available only at the central office. But instead, you can use the live chat.
👍 Advantages
- Immediate contact with the technical support team
- Prompt solving of relevant questions
👎 Disadvantages
- Slow responses of the technical support via email
zForex offers the following methods to contact client support managers:
-
telephone;
-
email;
-
feedback form;
-
call back;
-
live chat.
Traders with any trading account, regardless of the activity on it, can get help from technical support.
Contacts
| Foundation date | 2022 |
| Registration address | Sofia, Olimpiyska Str. "SiteGround", Sofra Park, fl.4, No.z, PO Box 1756, Sofia, Bulgaria. |
| Official site | https://zforex.com/ |
| Contacts |
Email:
info@zforex.com,
Phone: +35 924 928569 |
Review of the Personal Cabinet of ZForex
To start using trading instruments and assets, register a user account with zForex. To create a trading account with this brokerage company do the following:
1
Click the “Create Account” button on the broker's website. Next, the system will offer to create an account. To do this, select the required account and fill complete the registration form.
2
A message with a confirmation code will be sent to the specified email address. If you do not receive the letter, click the “Login” button on the main page of the website and reset your password.
3
In the user account, fill in your address, province name, district name, and postcode.
4
Images of documents must be sent to the email address specified in the user account. Documents such as ID cards, driving licenses, and passports, as well as telephone bills or bank statements are suitable for verification.
Services of zForex user account:
Instruments for deposits and withdrawals of funds;
Archive of trading and other transactions carried out for the entire existence of a trading account;
Tools for customizing the design of the task board;
Settings of the user account;
Section where you can view the accounts assigned to your trading account;
Tools to register as an Introducing Broker.
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FAQs
Do reviews by traders influence the ZForex rating?
Any review can raise or lower the rating of any broker in the general list of brokers. To read reviews about ZForex you need to go to the broker's profile.
How to leave a review about ZForex on the Traders Union website?
To leave a review about ZForex, register on the Traders Union website or you can also leave a review through Facebook.
Is it possible to leave a comment about ZForex on a non-Traders Union client?
Anyone can leave feedback about ZForex on multiple participating clients; however, Traders Union clients also receive additional payments later for working with any broker listed at the Forex market.
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