ZFX Broker Thailand Review 2024 - TU expert opinion
Is the Forex market legit in Thailand?
Forex trading in Thailand is legal with the financial sector actively developing in this Asian state. The operation of brokers and other financial organizations is supervised by the Bank of Thailand and the Securities and Exchange Commission. These regulatory bodies oversee compliance with all rules and requirements of the law.
All brokers that are officially registered in the jurisdiction support the Thai Baht. Private investors have access to trading all financial assets, including in the Forex market. The regulators do not impose restrictions. Leverage trading is available.
How to Trade Forex in Thailand
The first step towards earning money in the Forex market is choosing a brokerage company. The majority of international brokers support registration of users from Thailand. Register a personal account and verify your identity by uploading scanned copies of your documents. The next step is to fund your account using a debit/credit card, bank transfer or an electronic payment system. Install trading software to your computer or download a mobile app and make a trade.
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 moderate-risk broker with the TU Overall Score of 6.69 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 thoroughly analyze pros and cons before opening an account with this broker as not all clients are satisfied with the company, according to reviews.
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.
Detailed Review of ZFX Broker in Thailand
ZFX Broker is a good choice for traders from Thailand. The broker complies with all the requirements of the local regulator and offers attractive trading conditions for the clients.
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.
Advantages of ZFX Broker for trading in Thailand
Traders Union analysts conducted a detailed analysis of ZFX Broker for traders from Thailand. The experts outlined the key benefits of the company for the clients from this country. The advantages of the broker are as follows:
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.
Analysis of the Main Features of ZFX Broker in Thailand
Traders Union analysts analyzed the key features of ZFX Broker for traders from Thailand. TU uses its own evaluation method, assessing each block separately. Based on the results of the assessment, an overall score is given.
Trading conditions for ZFX Broker traders from Thailand
It is important to assess trading conditions before you decide to work with a specific company. Traders Union analysts have prepared a comparison of ZFX Broker trading conditions for traders from Thailand. The experts analyzed minimum deposit, trading platforms, leverage and other important information that could impact a trader's choice of a broker.
💻 Trading platform: |
Zeal MT4 Desktop, Zeal MT4 Mobile (iOS and Android)
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📊 Accounts: |
Demo, Mini Trading Account, Standard STP Trading Account, ECN Trading Account, and Professional Account
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💰 Account currency: |
USD
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💵 Replenishment / Withdrawal: |
Credit and debit cards, bank transfer, electronic payment systems such as Neteller, Perfect Money, and Skrill
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🚀 Minimum deposit: |
From $50 for retail clients, from $10,000 for professional clients
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⚖️ Leverage: |
Up to 1:100 for professional clients, up to 1:2000 for retail traders
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💼 PAMM-accounts: |
Yes
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📈️ Min Order: |
0.01
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💱 Spread: |
From 0.2 pips
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🔧 Instruments: |
Currency pairs, CFDs on stocks, indices, commodities (oil, gold, silver, copper)
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💹 Margin Call / Stop Out: |
Stop out: 20%/30%/50%
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🏛 Liquidity provider: |
Not indicated
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📱 Mobile trading: |
Yes
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➕ Affiliate program: |
Yes
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📋 Orders execution: |
Market, buy limit, buy stop, sell limit, sell stop, trailing stop
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⭐ Trading features: |
ECN accounts for currency pairs may incur additional commissions per trade
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🎁 Contests and bonuses: |
Yes
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ZFX Broker Commissions and Fees
Traders Union analysts analyzed commissions and fees charged by ZFX Broker for traders from Thailand. Within the framework of the analysis, all types of trading and non-trading fees traders are charged with were evaluated.
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 |
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.
FAQs
Is ZFX Broker legal in Thailand?
Yes. ZFX Broker operates legally in Thailand. The broker holds the necessary licenses.
Can you learn trading with ZFX Broker? Does the broker offer courses for traders from Thailand?
Yes, ZFX Broker offers good trading courses and a lot of educational information for clients from Thailand.
Can ZFX Broker be trusted? Has the broker been operating in Thailand long?
ZFX Broker has been operating in Thailand quite long and has a good reputation. Therefore, traders can work with ZFX Broker.
Is ZFX Broker suitable for novice traders from Thailand?
Yes. ZFX Broker offers optimal trading conditions and good education for beginners from Thailand.
How efficient is ZFX Broker customer support in Thailand?
ZFX Broker offers a sufficient number of ways to contact customer support in Thailand, and also provides support in the state language.
Has ZFX Broker had any incidents involving theft of funds of clients from Thailand?
No. ZFX Broker provides reliable security of funds of clients from Thailand.
Will I be able to file a lawsuit in Thailand if ZFX Broker violates my rights?
Yes. If ZFX Broker violates your rights, you can file a complaint with the regulator of Thailand, and then with a court.
Can ZFX Broker clients from Thailand use the broker’s mobile app?
Yes. The mobile app of ZFX Broker is available for the clients from Thailand.
Does ZFX Broker provide Thailand market analysis?
Analysis of Thailand is featured in the information provided by ZFX Broker.
How can I withdraw funds from my account at ZFX Broker in Thailand?
ZFX Broker supports bank transfers and debit/credit cards of the banks operating in Thailand.
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.
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.