General Information
Founded in 2010, ZFX is a financial institution providing retail and institutional clients with access to the worldwide markets as an NDD, STP, and ECN broker.
Financial instruments can be analyzed with a wide selection of trading tools provided by the platform, allowing you to better pinpoint profitable trading opportunities. ZFX provides its clients with access to leverage of up to 1:100, ECN trading accounts, extensive liquidity, low spreads, competitive commissions, and more. Learning materials for newcomers and independent tools are both absent on the broker's end. However, there is always support available, and it's multilingual if necessary.
Regulatory Information
ZFX currently holds a straight-through license from the UK Financial Conduct Authority (FCA) with License No. 768451) and a retail forex license from the Seychelles Financial Services Authority (FSA), with License No. SD027.
Pros & Cons of ZFX
Market Instruments
Tradable financial instruments on ZFX platform turn to be quite average, including forex currency pair, indices and comodities. Some popular and mainstream products like precious metals, energies, oils and stocks are missing.
Minimum Deposit
To meet different investors' investment needs and trading experience, forex broker ZFX offers three different accounts for users to choose from: Micro, Standard, and ECN. The minimum deposit to start trading is $100, quite in line with most brokers' initial account opening requirements.
Account Opening
Account opening is easy and straightforward: just click on the Open Live Account tab at the top-right corner of the brokers website. Fill the registration form, providing your personal information and other required details.
ZFX Leverage
Forex investors can trade Forex, and precious metals products on ZFX Micro accounts with a leverage ratio of up to 1:2000. For risk management purposes, the ZFX system will adjust the leverage ratio based on the net value of the trading account, with the main levers at 1:2000, 1:1000, 1:600, 1:400, 1:100.
Spreads & Commissions
The average spread on micro accounts is 1.5 pips on EURUSD, 1.9 pips on GBPUSD, 0.35 pips on Gold, 0.025 pips on Silver, 0.04 pips on Brent Crude Oil (Futures), 0.04 pips on West Texas Light Crude Oil, and 2.3 pips on the German DAX30. The average spread on the standard STP account is 1.5 pips on the EURUSD, 1.9 pips on the GBPUSD, 0.35 pips on the Gold, 0.025 pips on the Silver, 0.04 pips on the Brent Crude Oil (Futures), 0.04 pips on the West Texas Light Crude Oil and 2.3 pips on the German DAX30. The average spread on the ECN account is 0.2 pips on the EURUSD, 0.4 pips on the GBPUSD, 0.1 pips on the Gold, and 0.005 pips on the Silver. 0.005 pips, Brent crude oil (futures) spreads are 0.04 pips, and West Texas light crude oil spreads are 0.04 pips. Micro accounts and Standard STP accounts calculate commission for Forex, Gold, and Silver trades into spreads, while ECN accounts charge a commission of $7 per lot.
Trading Platforms
ZFX MT4 supports various order types, charting, one-click trading, advanced analytical tools and indicators, comprehensive reporting, and instant news feeds. ZFX MT4 can also be seamlessly integrated with a trader's existing trading device through a further developed API program that supports smart trading and strategy backtesting. Forex traders can use the trading platform on Apple, Android, Windows, and Mac.
Deposit & Withdrawal
ZFX supports FlashE International UnionPay or XPay Internet Banking, with a minimum deposit of $100. Forex traders can withdraw funds without any fees and same-day withdrawal restrictions, with a minimum withdrawal amount of 100 RMB (approximately $15).
Customer Support
You can reach Zeal Capital Market's multilingual customer service team at any time via phone, email, social media, a dedicated online help form, or by just visiting their offices.Since crypto trading is not yet available, I think it is reasonable for ZFX to offer round-the-clock client service.
Trading occurs primarily on weekdays because that's when most market offerings are made available.
Accepted Regions
ZFX's services are not directed at residents of any particular country outside the UK and are not intended for distribution to, or used by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation. Some ZFX features and products mentioned within this ZFX review may not be available to traders from certain countries because of legal restrictions.
