ZFX vs RoboForex - Fees Review included
Which broker is better ZFX or RoboForex? Our expert assessment conducted according to TU’s own methodology showed that ZFX is one of the top brokers in the financial market with the TU Overall Score of 4.78 out of 10. RoboForex is one of the top brokers in the financial market with the TU Overall Score of 9.71 out of 10. Find out more about TU Overall Score.
| Feature | ZFX | RoboForex |
|---|---|---|
Overall |
2.3 |
4.9 |
5 |
4.6 |
|
3.1 |
4.9 |
|
2.3 |
5 |
|
Investment Instruments |
1 |
4.8 |
Platforms and Charting Tools |
2.8 |
4.9 |
Deposit and Withdrawal |
2.5 |
4.8 |
Research |
1 |
4.9 |
Education |
1 |
4.8 |
Support |
2.7 |
5.0 |
Bonuses |
1 |
5 |
|
|
|
ZFX vs RoboForex: Pros and Cons
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 and Seychelles supervisory authority FSA. 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
RoboForex is a brokerage company that was founded in 2009. It provides services to financial markets in 169 countries. More than 3.5 million users are RoboForex clients. RoboForex is the leading software developer in the Forex industry. RoboForex is recognized as a reliable partner by the most respected financial market experts. The company has won numerous prestigious awards. The RoboForex group of companies has an international license to provide services from FSC Belize.
| ZFX | RoboForex | |
|---|---|---|
| Overall Pros | Execution of trades without going through a dealing center and liquidity from major financial institutions | Trading With Leverage up to 1:2000 |
| Regulation by the FCA (UK) and the FSA (Seychelles) | Near 9000 supported trading assets | |
| High leverage (up to 1:100) on standard and ECN accounts | Low trading and non trading fees | |
| Tighter spreads (from 0.2 pips) on ECN accounts | Passive income with copy trading | |
| Ability to trade over 100 assets, including Forex, stock indices, commodities (precious metals and crude oil), and stocks | Great bonus programs | |
| High leverage (up to 1:100) on standard and ECN accounts | Instant withdrawal of funds | |
| Best choice of Forex EA, Forex bots builder | ||
| Advanced trading platforms | ||
| Overall Cons | Lack of a web-based trading platform | Lack of cryptocurrency tools when trading on the R Trader platform |
| Hefty $1,000 deposit for retail traders on ECN accounts | A small number of currency pairs - 36, for accounts: Pro, Pro-Cent, ECN, Prime | |
| The maximum number of open positions in Standard and ECN accounts is limited and cannot exceed 200 |
ZFX vs RoboForex: Safety and Regulation
| Regulated By: | ZFX | RoboForex |
|---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
Yes |
No |
CySec (Cyprus, EU) |
No |
No |
ASIC (Australia) |
No |
No |
Other Regulators |
FSA (Seychelles) |
FSC (Belize) |
ZFX vs RoboForex: Trading Conditions
| Trading Conditions | ZFX | RoboForex |
|---|---|---|
Minimum Deposit |
$1000 |
$10 |
Trading Platforms |
Zeal MT4 (for PC, Mac, Android and iOS) |
MT4, MT5, cTrader, R StocksTrader, RoboForex, |
Max Leverage (Futures) |
1-100 |
1-2000 |
Supported Markets |
Forex, Commodities, Global Indices and Cryptocurrencies |
Forex, Stocks, Indices, ETFs, Groceries, Energy commodities, Metals |
Trading assets |
100+ |
8700+ |
Trading Accounts |
Zeal Standard Trading Account, Zeal ECN Trading Account |
Pro, Pro Cent, ECN, Prime |
Base Account Currencies |
USD, GBP |
USD, EUR |
ZFX vs RoboForex: Fees
Forex Trading Fees
| Fee | ZFX | RoboForex |
|---|---|---|
Standard Account EURUSD Average Spread |
1.3 pips |
1.4 pips |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
Acording Specification |
$2 per lot |
ECN Account EUR Average Spread |
0.2 pips |
0.1 pip |
CFD Trading Fees
| Fee | ZFX | RoboForex |
|---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread |
Non-Trading Fees
| Fee | ZFX | RoboForex |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
No |
No |
Inactivity Fee |
No |
No |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
ZFX vs RoboForex: Trading Assets
| Asset Name | ZFX | RoboForex |
|---|---|---|
Overall |
100+ |
9700+ trading assets |
Forex |
Yes |
Yes |
Stocks |
Yes (CFD) |
Yes (CFD) |
Metals |
Yes (CFD) |
Yes (CFD) |
Cryptocurrencies |
Yes (CFD) |
Yes (CFD) |
Energy |
Yes (CFD) |
Yes (CFD) |
Indices |
Yes (CFD) |
Yes (CFD) |
ETFs |
No |
Yes (CFD) |
Bonds |
No |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
No |
No |
Binary Options |
No |
No |
ZFX or RoboForex: Investment Programs
| Asset Name | ZFX | RoboForex |
|---|---|---|
Copy Trading |
No |
Yes |
MAM/PAMM |
No |
No |
Managed Accounts |
No |
No |
Other |
No |
No |
Trading Platforms: RoboForex or ZFX
| ZFX | RoboForex | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
No |
Yes |
cTrader |
No |
Yes |
Appropriate platform |
No |
R StocksTrader, RoboForex Terminals |
Others |
No |
No |
|
|
|
ZFX vs RoboForex: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | ZFX | RoboForex |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
Yes |
Crypto |
No |
No |
ZFX vs RoboForex: Research
| Research Type | ZFX | RoboForex |
|---|---|---|
News Feed |
No |
Yes |
Fundamental Data |
No |
Yes |
Chart Analysis |
No |
Yes |
Trading Ideas |
No |
Yes |
E-Mail Reports |
No |
Yes |
ZFX vs RoboForex: Education
| Education Type | ZFX | RoboForex |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
No |
Yes |
Articles |
No |
Yes |
Videos |
No |
Yes |
Cent account |
No |
Yes |
RoboForex vs ZFX: Support
| Support Features | ZFX | RoboForex |
|---|---|---|
Working Days |
8/5 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
No |
Yes |
Other |
No |
No |
ZFX vs RoboForex: Forex Bonuses and Promo
| Promo | ZFX | RoboForex |
|---|---|---|
Forex Bonus |
No |
Welcome bonus $30 Classic first deposit bonus up to 120% |
Affiliate Program |
No |
Up to 40% of trading commissions |
Other Promos |
||
|
|
|
Top 5 Reviews on RoboForex
-
Comment
Today,April 11, 2024, I made a deposit using a new payment method to fund my RoboForex trading account. I always received the deposited amount real-time in my previous service provider and was expecting the same this time. That did not happen unfortunately. I waited for five hours before finally contacting the RoboForex customer service just in case it was just a minor glitch in the system. The platform has a number of customer service channels to choose from like Whatsapp, Telegram, Messenger, etc which is convenient. I contacted them through Facebook Messenger at 2 pm local time (+8 GMT) and got a response right after I sent my concern. Website says customer service is 24/7. Was asked to provide my trading account number and made it clear that some transactions can take up to five business days to reflect, depending on the service provider. But somehow the funds made it into my account within the day after the interaction. Happy about their prompt response on this one.
-
Comment
I signed up with RoboForex two weeks ago and the process went smoothly overall. Only one thing to remember: they have a specific requirement on the password format which took a bit of my time. I use the same password on all my trading accounts which RoboForex kept rejecting, so had to come up with a new one which for me is a source of slight inconvenience for my future transactions. After submitting the documents confirming my identification and home address, they sent me an email informing that my MT4 Pro account has been successfully opened. It’s fast. There are four different account types to choose from: Demo, Real, CopyFX Trader, and Partner which appeals to different types of traders and I selected a demo since I am a beginner. From my understanding you can open multiple accounts at once and there can be different types, depending on preference. The demo account has a $10,000 balance and a 1:1000 leverage and I just started playing around. Wish they will be more flexible with th
-
Comment
RoboForex is a beginner-friendly platform. I was able to set up an account by following the instructions I saw in the blogs section. After setting up a demo account, I opened the web trader version of the trading platform, and the educational guides on how to trade I found on this trading platform have helped me in my trading journey. The educational resource explained the importance of studying the price movement of the asset you choose and how to select the order volume, of which 1.0 is the recommended value. Beginner traders can consider the educational resource available on the RoboForex platform as there are provisions for those looking to learn how to trade using major trading pairs like GBP/USD, EUR/USD, USD/JPY, USD/CHF, AUD/USD, USD/CAD, etc.
-
Comment
I've been trading with Roboforex for over 2 years now, and I can't say anything bad about the broker. Their trading conditions are better than those of larger companies. The spreads on ECN accounts are minimal; it's a pleasure to scalp on the EUR/USD pair. Yes, during increased volatility, spreads may widen, but I don't trade the news, so it's not essential for me. Also, I take advantage of Roboforex's free VPS for automated trading. I recommend this company
-
Comment
I've been trading with Roboforex for over 2 years now, and I can't say anything bad about the broker. Their trading conditions are better than those of larger companies. The spreads on ECN accounts are minimal; it's a pleasure to scalp on the EUR/USD pair. Yes, during increased volatility, spreads may widen, but I don't trade the news, so it's not essential for me. Also, I take advantage of Roboforex's free VPS for automated trading. I recommend this company.
Top 5 Reviews on ZFX
-
Comment
For me personally, the conditions at ZFX Broker are quite satisfactory. Although the minimum account was a bit expensive. Not everyone is ready to check a broker with a minimum deposit like this. However, I took a risk and I don’t regret it. I trade normally, everything works well, and I successfully withdrew funds twice without delays.
-
Comment
ZFXBroker is a scammer and deceiver, its first priority is profit and it profits mainly from those who invest a lot. I deposited a small amount at first, checked them, and it seemed to be a normal broker. But as soon as I deposited $900, they immediately started playing on my account. These scammers drained my entire balance. And their technical support said that I lost everything myself.
-
Comment
This is not a broker! Not only does ZFX Broker limit the ability to open trades, but it also closes trades at its own discretion. Like, there is a suspicion that I don’t have enough margin to support the trade. Four trades in a row - and all go into negative due to the fact that ZFX Broker closes trades on its own, without me.
-
Comment
I can’t give ZFX Broker a high score. I argued with technical support more than once, and I memorized the regulations so that I knew all my rights. I will say that there are a lot of things in the regulations that can put the client in an uncomfortable position. And I think that ZFX Broker, when compared with others, is not in the top of traders’ trust. And this is understandable.
-
Comment
Slippage of 30 pips on ZFX Broker platform is a normal occurrence. Therefore, it turns out that when you try to open an order, spread and slippage already bring a big loss. If there is a price movement in the market, you can win back such a loss. But most often such orders bring problems in the form of financial losses. Therefore, I had to change ZFX Broker to another company.
FAQs
What should I start Forex trading with?
It is desirable for novice traders to explore trading using a demo account to learn the market and how to work on the trading platform without the risk of suffering losses. At the same time, it is advisable to review the educational materials of the broker, learn trading basics. Then you can deposit the minimum required amount to perform a small number of transactions. If you manage to close several months in a row in the black, without substantial drawdowns on the account, then you can try increasing your deposit. Also trying to copy trades automatically is a good option for a start.
What amount should I start trading with?
The minimum deposit of $10 may be enough to trade on the cent account. However, for trading on Standard/ECT accounts, experts recommend starting with at least $200-500. With this amount, you can use not a very big leverage. Remember, getting carried away with the margin is the main cause of losses among beginners.
What should I take into consideration when choosing a broker?
Experts recommend looking at the broker’s reliability first and foremost. The other important features include basic trading conditions, commissions and fees, customer reviews. If brokers are approximately the same in terms of basic criteria, you need to choose based on your experience and tasks. One broker may be good for professionals and another – for novice traders.
Is it possible to be scammed by a broker with a license from a reputable regulator?
In theory, yes. But in practice, it takes so much time and money to comply with the requirements of reputable regulators that it is not worth it for scammers to bother obtaining a legitimate license.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.