ZFX Broker Fees and Minimum Deposit - TU Expert review
Assessing the size of the fees is the second most important factor for choosing a broker after reliability. The lower the fees, the more diverse their structure, the more beneficial it is to trade with the broker. Minimum deposit is another important factor that may tip the scale in favor of a certain broker. This is particularly important for novice traders, who cannot afford to invest a lot at the beginning. Traders Union analysts have prepared an analysis of ZFX Broker fees and also assessed the size of its minimum deposit.
Short introduction of 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.
| 💰 Account currency: | USD |
| 🚀 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 |
| 💱 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% |
ZFX Broker Pros and Cons
👍 Advantages of trading with ZFX Broker:
•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.
👎 Disadvantages of ZFX Broker:
•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.
Key types of fees on Forex
A broker is an intermediary between a trader and an exchange. Therefore, brokers charge fees for their services. The fees may have different structure.
There are the following fees in the Forex market:
-
Spread – the difference between the buy and the sell price of an asset.
-
Commission per lot.
-
Commission per trade.
Broker fees may differ depending on the trading account type. For example, on some accounts spread is used as a trading fee, and on others – commission per lot.
ZFX Broker Commissions and Fees
To determine what trading fees ZFX charges its clients, the broker's trading conditions were analyzed by experts at the Traders Union. There is no fixed brokerage commission at ZFX, and the spread depends on the account type and currency pair. The tightest spreads (from 0.2 pips) are on ECN and Professional accounts. On the Standard STP trading account, spreads start from 1.3 pips, and on the Mini Trading Account, they start from 1.5 pips. Additional commissions may be charged for transactions on ECN accounts. Depositing and withdrawing funds are free of charge, but a commission may be charged by payment systems or the receiving bank.
| 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 |
Why is it important to assess minimum deposit?
It is important for beginners and traders with limited financial capabilities to assess the minimum deposit of the broker. Different brokers offer different levels. Some companies focus on working with professional traders and their entry threshold is usually in the thousands or tens thousands of US dollars. Brokers that work with beginners offer low minimum deposit. It could be $500 or $100, or even $1.
In addition minimum deposit may differ depending on the account type. This is also an important factor to analyze. If a broker offers a low entry threshold, traders can get better conditions and still not spend too much money on funding their account.
ZFX Broker Minimum deposit
How to Start Making Profits — Guide for Traders
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.
Brokers similar to ZFX Broker
When analyzing ZFX Broker, it is important to compare it with other similar companies. Before you choose a broker, it is important to compare its trading conditions with competitors. Traders Union analysts have prepared a comparison of the minimum deposit and other trading conditions of ZFX Broker and other brokers.
Comparison of ZFX Broker with other Brokers
| ZFX Broker | RoboForex | Pocket Option | Exness | FreshForex | FxGlory | |
|---|---|---|---|---|---|---|
|
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, Mobile Trading |
MT4, Mobile Trading, MT5 |
|
Min deposit |
$50 |
$10 |
$5 |
$10 |
No |
$1 |
|
Leverage |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:1 |
|
Trust management |
Yes |
No |
No |
No |
No |
No |
|
Accrual of % on the balance |
No |
No |
No |
No |
No |
8.00%% |
|
Spread |
From 0.2 points |
From 0 points |
From 1.2 point |
From 1 point |
From 0 points |
From 2 points |
|
Level of margin call / stop out |
No |
No |
No |
No |
No |
No |
|
Execution of orders |
Market Execution |
Market Execution, Instant Execution |
Market Execution |
Market Execution, Instant Execution |
Market Execution, Instant Execution |
Instant Execution, Market Execution |
|
No deposit bonus |
No |
No |
No |
No |
$30 |
No |
|
Cent accounts |
Yes |
Yes |
No |
No |
Yes |
No |
Expert Opinion
When comparing FTMO to similar prop firms, its conditions seem generally competitive and a balanced offering. With reasonable fees, enough leverage for many styles and an achievable cost starting from €155, it presents a solid choice for prop traders to evaluate further. There are also no added commissions on top of the spread which keeps trading costs low.
Some traders may find the testing requirements to be on the strict side, but this ensures people have proven themselves capable of managing risk before gaining access to larger funded accounts.
Overall, for those interested in prop trading and wanting the guidance of a funded program, FTMO offers a decent option to consider. Just be prepared to treat the challenge period like the job interview that it is.
Conclusion
Analysis of ZFX Broker shows that the broker has a rather high minimum deposit. It could pose a problem for traders, who are only starting their path in trading. Nevertheless, the fees are low. Therefore, the broker will be a good choice for professional traders.
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FAQs
Can you reduce the fees?
As a rule, the fees depend on the trading account type. Also, companies may have special offers.
What deposit amount should a beginner start with?
Some brokers offer a minimum deposit of $1. However, it is recommended to deposit at least $300-500 to the account to be able to trade fully.
Is there trading without fees?
No. A broker may charge a minimum fee, but it will still be a fee. However, the company’s main source of revenue could, for example, be non-trading fees.
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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.
The area of responsibility of Mikhail includes covering the news of currency and stock markets, fact checking, updating and editing the content published on the Traders Union website. He successfully analyzes complex financial issues and explains their meaning in simple and understandable language for ordinary people. Mikhail generates content that provides full contact with the readers.
Mikhail’s motto: Learn something new and share your experience – never stop!
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.
Olga has extensive experience in writing and editing articles about the specifics of working in the Forex market, cryptocurrency market, stock exchanges and also in the segment of financial investment in general. This level of expertise allows Olga to create unique and comprehensive articles, describing complex investment mechanisms in a simple and accessible way for traders of any level.
Olga’s motto: Do well and you’ll be well!