7.9

ZFX Broker Review: Versatile Trading on a Global Scale

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7.9/10 (Expert Score)
Product is rated as #5 salam
Trust & Regulatory Status
5.5
Tradable Instruments
6
Fees
7
Account Types
7.5
Platform and Tools
6.5
Deposit and Withdrawal
6
Customer Support
5.5
Research and Education
7
Mobile Trading
7
Security
6.5

ZFX Overview & Company Background


ZFX is a regulated online trading platform offering access to a variety of markets including forex, indices, commodities, and stocks. With powerful MetaTrader 4 integration, ZFX supports robust trading capabilities across multiple devices, including dedicated mobile apps. The platform emphasizes educational resources and tools like economic calendars and copy trading to enhance trading strategies. ZFX caters to all levels of traders with different account types, from Mini to ECN, tailored to individual trading needs and styles.

Founded in 2016 by Zeal Capital Market in London, ZFX is a UK forex and CFD broker situated in London, as part of the Zeal Group, ZFX offers trading in a variety of different asset classes to customers including forex, commodities, indices, and stocks. The firm is licensed by the UK’s Financial Conduct Authority (FCA) and Financial Services Authority (FSA) in Seychelles giving a secured environment to customers who will be trading from there.

ZFX adopts the No Dealing Desk model of execution that affords direct market access with competitive spread values and fast speeds of execution. The trading firm supports MetaTrader 4, popularly known for easy-to-use interfaces and developed trading tools. The brokerage firm has various types of accounts for retail and institutional clients.

Along with the trading services, the company places importance on client fund security by segregating client funds from corporate assets and holding them separately in accounts at major banks. This enables the maximum safety and transparency from the trader’s point of view.

In summary, ZFX is a trusted broker that has a safe and efficient trading environment and its tight regulatory oversight and commitment to protect clients’ funds.

Facts About ZFX
  • Dual regulation by FCA (UK) and FSA (Seychelles)
  • Client funds are fully segregated
  • Negative balance protection available
  • Minimum deposit starts at $50 (Mini Account)
  • Competitive spreads from 0.2 pips (ECN Account)
  • Three account types catering to different trader levels
  • MetaTrader 4 platform with advanced tools
  • 60+ forex pairs and multiple CFD instruments
  • No dealing desk (NDD) execution model
  • Not available in US, EU, and several other jurisdictions
  • Limited range of trading instruments compared to competitors
  • Higher minimum deposit ($1,000) for ECN accounts

Pros & Cons Analysis


PROS
  • Educational Resources: ZFX offers the A-to-Z Trading Academy, providing educational materials suitable for traders at all levels.
  • MetaTrader 4 Platform: The broker supports the widely-used MetaTrader 4 platform, known for its user-friendly interface and advanced trading tools.
  • Low Initial Deposit: Traders can start with a minimum deposit as low as $50, making it accessible for beginners.
  • Regulatory Compliance: ZFX is regulated by reputable authorities, including the UK's Financial Conduct Authority (FCA) and the Seychelles Financial Services Authority (FSA), ensuring a secure trading environment.
CONS
  • Limited Product Range: Compared to some competitors, ZFX offers a narrower selection of trading instruments.
  • Geographical Restrictions: The broker's services are not available in certain countries, limiting its global accessibility.
  • High Minimum Deposit for ECN Accounts: Access to ECN accounts requires a minimum deposit of $1,000, which may be a barrier for some traders.

Is ZFX Regulated and Safe?


ZFX operates under the regulatory oversight of two primary authorities:

  • Financial Conduct Authority (FCA): ZFX’s UK entity, Zeal Capital Market (UK) Limited, is authorized and regulated by the FCA under registration number 768451. The FCA is renowned for its stringent regulatory standards, ensuring that brokers adhere to high levels of transparency and fairness. 
  • Financial Services Authority (FSA) of Seychelles: Another entity of ZFX, Zeal Capital Market (Seychelles) Limited, is regulated by the FSA under license number SD027. While the FSA’s regulatory framework is considered less stringent compared to the FCA, it still provides a level of oversight for brokers operating under its jurisdiction. 

Security Measures:

  • Segregation of Client Funds: ZFX ensures that clients’ funds are fully segregated in designated client bank accounts, separate from the company’s operational funds. This practice safeguards clients’ assets, ensuring they are not used to meet the company’s liabilities. 
  • Data Protection: The broker employs robust security protocols to protect clients’ personal and financial information, adhering to international data protection standards.

In summary, ZFX’s regulatory compliance with both the FCA and FSA, combined with its commitment to fund segregation and data security, underscores its dedication to providing a safe trading environment for its clients.

  • Financial Conduct Authority (FCA)
  • Financial Services Authority (FSA) of Seychelles

Trading Conditions & Costs


ZFX offers a diverse range of trading instruments across multiple asset classes, providing traders with various opportunities to diversify their portfolios.

  • Forex: Trade over 60 currency pairs, including major, minor, and exotic pairs, allowing for extensive forex market participation. 
  • Commodities: Access to precious metals like gold and silver, as well as energy commodities such as crude oil and natural gas, enables traders to hedge against market volatility. 
  • Indices: Engage in trading contracts for difference (CFDs) on major global indices, including the NASDAQ 100 and S&P 500, offering exposure to broader market movements. 
  • Stocks: Trade CFDs on shares of leading companies, providing opportunities to capitalize on individual stock performance without owning the underlying assets. 

While ZFX provides a comprehensive selection of instruments, it’s important to note that the broker does not currently offer cryptocurrency trading. This limitation may be a consideration for traders interested in digital assets. 

Overall, ZFX’s range of tradable instruments caters to both novice and experienced traders, facilitating diverse trading strategies across various markets.

  • Forex
  • Stocks (Shares)
  • Commodities
  • Indices

ZFX Trading Platforms & Tools


Opening an account with ZFX is a straightforward process designed to accommodate both novice and experienced traders. Follow this step-by-step guide to set up your account:

  1. Registration:
    • Visit the ZFX Website: Navigate to the official ZFX website and click on the “Open an Account” button.
    • Complete the Registration Form: Provide your full name, email address, phone number, and create a secure password.
    • Submit the Form: After filling in the required details, submit the registration form to proceed.
  2. Account Selection:
    • Choose an Account Type: ZFX offers three account types:
      • Mini Trading Account: Designed for beginners with a minimum deposit of $50 and leverage up to 1:2000.
      • Standard STP Trading Account: Suitable for intermediate traders with a minimum deposit of $200 and leverage up to 1:2000.
      • ECN Trading Account: Tailored for advanced traders with a minimum deposit of $1,000 and leverage up to 1:2000.
    • Select Your Preferred Account: Based on your trading experience and capital, choose the account type that best suits your needs.
  3. Identity Verification:
    • Log into MyZFX: Access your personal area using the credentials created during registration.
    • Upload Identification Documents: Provide a valid proof of identity (e.g., national ID card, driver’s license, or passport) and proof of residence (e.g., recent utility bill or bank statement not older than six months).
    • Submit Documents: Ensure all documents are clear and legible before submission.
  4. Bank Account Verification:
    • Access Payment Verification: Within MyZFX, navigate to “Personal Information” and select “Payment Verification.”
    • Enter Bank Details: Provide your bank account information and upload a bank statement not older than six months.
    • Submit for Verification: Confirm the details and submit for approval.
  5. Approval Process:
    • Review Period: ZFX typically reviews verification documents within 24 business hours.
    • Notification: You will receive an email notification once your account is verified and approved.
  6. Funding Your Account:
    • Log into MyZFX: Access your personal area.
    • Select Deposit Method: Choose from available funding options such as bank transfer, credit/debit card, or e-wallets.
    • Complete the Deposit: Follow the prompts to fund your trading account.
  7. Start Trading:
    • Download the Trading Platform: Install the ZFX MT4 platform compatible with your device.
    • Log into the Platform: Use your account credentials to access the trading platform.
    • Begin Trading: Explore the platform features and start placing trades.

By following these steps, you can efficiently set up and begin trading with your ZFX account.

  • Registration: Visit the ZFX website, click "Open an Account," and complete the registration form by providing your name, email, phone number, and a secure password. Submit the form to create your account.
  • Account Selection: Choose from three account types—Mini (minimum deposit $50), Standard STP (minimum deposit $200), or ECN (minimum deposit $1,000)—based on your trading experience and capital.
  • Identity Verification: Log into MyZFX, upload proof of identity (e.g., passport or driver's license) and proof of residence (e.g., utility bill), and submit the documents for verification.
  • Bank Account Verification: Provide your bank details within MyZFX, upload a recent bank statement (not older than six months), and submit for approval.
  • Start Trading: Fund your account via a preferred deposit method, download the ZFX MT4 trading platform, log in with your credentials, and begin trading.

ZFX Account Types & Minimum Deposit


ZFX offers a variety of account types to cater to traders with different experience levels and capital sizes. Below is an overview of each account type:

Account Type Minimum Deposit Leverage (up to) Spreads (from) Features
Mini Trading Account $50 1:2000 1.5 pips Designed for beginners; allows trading with smaller lot sizes.
Standard STP Account $200 1:2000 1.3 pips Offers direct market access with no commissions; suitable for all traders.
ECN Account $1,000 1:2000 0.2 pips Provides the lowest spreads with a commission per trade; ideal for advanced traders.

  • Mini Trading Account:
  • Minimum Deposit: $50
  • Leverage: Up to 1:2000
  • Spreads: Starting from 1.5 pips
  • Features: This account is tailored for novice traders, allowing them to start with a modest investment and trade smaller lot sizes, thereby minimizing risk exposure.
  • Standard STP Account:
  • Minimum Deposit: $200
  • Leverage: Up to 1:2000
  • Spreads: Starting from 1.3 pips
  • Features: The Standard Straight Through Processing (STP) account offers direct market access without any commissions, making it suitable for traders seeking competitive spreads and efficient execution.
  • ECN Account:
  • Minimum Deposit: $1,000
  • Leverage: Up to 1:2000
  • Spreads: Starting from 0.2 pips
  • Features: The Electronic Communication Network (ECN) account provides access to the tightest spreads available, with a commission charged per trade. This account is ideal for experienced traders who require optimal trading conditions and are comfortable with higher initial deposits.
  • Each account type is designed to meet the specific needs of traders, offering varying levels of leverage, spreads, and features to accommodate different trading strategies and risk appetites.

Deposits & Withdrawals


ZFX Deposits and Withdrawals

ZFX offers a variety of deposit and withdrawal methods to accommodate the diverse needs of its clients.

Deposit Methods:

  • Bank Transfers: Clients can fund their accounts via bank transfers, which may take several business days to process.
  • Credit/Debit Cards: Visa and MasterCard are accepted, providing instant funding options.
  • E-Wallets: Supported e-wallets include Skrill, Neteller, and Perfect Money, popular among forex traders for their convenience and speed. 

Withdrawal Methods:

  • Bank Transfers: Withdrawals to bank accounts are available, with processing times varying depending on the bank’s policies.
  • Credit/Debit Cards: Funds can be withdrawn back to the original card used for the deposit.
  • E-Wallets: Withdrawals to e-wallets like Skrill, Neteller, and Perfect Money are supported, often processed within 24 hours. 

Minimum and Maximum Transaction Amounts:

  • Deposits: The minimum deposit amount varies by account type, starting from $50 for the Mini Trading Account. 
  • Withdrawals: The minimum withdrawal amount is $15, though this may depend on the chosen withdrawal method. 

Fees:

ZFX does not charge fees for deposits or withdrawals. However, third-party providers or banks may impose their own fees, especially for currency conversions or international transactions. 

Processing Times:

  • Deposits: Credit/debit card and e-wallet deposits are typically instant, while bank transfers may take several business days.
  • Withdrawals: ZFX aims to process withdrawal requests within 24 hours. The actual time for funds to appear in your account depends on the withdrawal method and any intermediary banks involved. 

It’s advisable for clients to verify their accounts and payment methods to ensure smooth and timely transactions. Additionally, being aware of any potential fees from banks or payment providers can help in managing costs effectively.

How to trade with ZFX? Step-by-Step Guide


Trading with ZFX is a straightforward process designed to accommodate both novice and experienced traders. Here’s a step-by-step guide to get you started:

  1. Account Registration:
    • Visit the ZFX Website: Navigate to the official ZFX website and click on the ‘Open an Account’ button
      • Complete the Registration Form: Provide the required personal information, including your name, email address, and phone number.
      • Verify Your Identity: Upload necessary identification documents, such as a valid passport or driver’s license, along with proof of address.
  2. Download the Trading Platform:
    • MetaTrader 4 (MT4): ZFX utilizes the MT4 platform, renowned for its user-friendly interface and advanced trading tools. Download the platform compatible with your device (Windows, Mac, iOS, or Android) from the ZFX website. 
  3. Fund Your Account:
    • Deposit Methods: ZFX offers various funding options, including bank transfers, credit/debit cards, and e-wallets.
    • Minimum Deposit: The minimum deposit requirement varies by account type, starting from $50 for the Mini Trading Account. 
  4. Platform Login:
    • Launch MT4: Open the MT4 platform and log in using the credentials provided during registration.
    • Server Selection: Ensure you select the correct server associated with your ZFX account.
  5. Navigating the Platform:
    • Market Watch: View available trading instruments and their real-time prices.
    • Charts: Access customizable charts to analyze market trends.
    • Navigator: Utilize tools, indicators, and expert advisors to enhance your trading experience.
  6. Placing a Trade:
    • Select an Instrument: Double-click on your chosen asset in the Market Watch window.
    • Order Window: Specify trade parameters, including volume (lot size), stop-loss, and take-profit levels.
    • Execute Trade: Click ‘Buy’ or ‘Sell’ to open a position.
  7. Monitoring and Managing Trades:
    • Terminal Window: Track open positions, account balance, and trading history.
    • Modify Orders: Adjust stop-loss and take-profit levels as needed.
    • Close Positions: Right-click on an open trade and select ‘Close Order’ to exit the position.

Tools and Features:

  • Technical Indicators: MT4 offers a wide array of built-in indicators for comprehensive market analysis.
  • Expert Advisors (EAs): Automate trading strategies using EAs, which can be customized or sourced from the MT4 community.
  • One-Click Trading: Execute trades swiftly with a single click, ideal for fast-moving markets.
  • Charting Tools: Utilize various chart types, timeframes, and drawing tools to perform technical analysis.

By following these steps and leveraging the robust features of the MT4 platform, you can effectively navigate the trading process with ZFX.

Customer Support


ZFX is committed to providing comprehensive customer support to assist traders with their inquiries and technical needs.

Support Channels:

  • Live Chat: Accessible directly through the ZFX website, offering real-time assistance for immediate concerns. 
  • Email Support: Clients can reach out via email at cs@zfx.com for detailed inquiries or support requests. 
  • Phone Support: Available at 400-8424-611, with operating hours from Monday to Friday, 24 hours, and on weekends from 07:30 AM to 02:00 AM the next day. 

Availability Hours:

  • Weekdays: 24-hour support from Monday to Friday.
  • Weekends: Support available from 07:30 AM to 02:00 AM the following day.

Languages Supported:

ZFX offers customer support in multiple languages, including:

  • English
  • Chinese
  • Thai
  • Vietnamese
  • Indonesian

This multilingual support ensures that clients from various regions can communicate effectively with the support team. 

Response Times:

ZFX aims to provide prompt responses to client inquiries. Live chat typically offers immediate assistance, while email responses are generally provided within 24 hours. Phone support is available during the specified hours for direct communication.

In summary, ZFX’s customer support infrastructure is designed to offer timely and effective assistance through various channels, accommodating clients’ preferences and ensuring a satisfactory trading experience.

ZFX Final Verdict


ZFX is a broker that balances usability with reliability, offering a secure platform for traders at various experience levels. While it could benefit from a broader asset selection and expanded geographic availability, its regulatory credentials, customer support, and MT4 platform make it a strong choice for many traders. ZFX’s combination of educational resources and account variety supports an inclusive trading experience, making it a solid option for both beginners and seasoned traders looking for a straightforward, secure trading environment.

  • Regulatory Compliance: ZFX is regulated by the Financial Conduct Authority (FCA) in the UK and the Seychelles Financial Services Authority (FSA), offering a reliable trading environment backed by regulatory oversight.
  • Trading Platform: With the popular MetaTrader 4 (MT4) platform, ZFX provides an intuitive and feature-rich trading experience suitable for both beginners and experienced traders.
  • Account Options: The broker offers flexible account types, including Mini, Standard STP, and ECN accounts, which cater to traders with various experience levels and investment sizes.
  • Asset Range: ZFX offers access to forex, commodities, indices, and stocks, though it lacks cryptocurrency trading options, which may limit diversification for some traders.
  • Negative Balance Protection: ZFX provides Negative Balance Protection, ensuring that traders' losses are capped at their account balance.
  • Promotions: Special offers like the deposit bonus and no-deposit bonus give clients opportunities to expand their trading capital, but these come with specific terms and conditions.
  • Customer Support: Multilingual customer support is available through live chat, email, and phone, enhancing accessibility for clients globally.

Frequently Asked Questions


About Author


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Beatrice Quinn

Beatrice Quinn Kingsley, a finance graduate from the London School of Economics, dove into finance clubs during her studies, honing her skills in portfolio management and risk analysis. With a career spanning prestigious firms like Barclays and HSBC, she's become an authority in asset allocation and investment strategy, known for her insightful reports. Beyond her corporate success, Beatrice is an advocate for financial literacy, actively engaging in workshops, seminars, and writing on topics like personal finance and investing. Recognized in the field, she's a featured voice in publications and a sought-after consultant, combining her financial know-how and communication prowess to empower ...
Our Methodology
At BrokerInspect, we base our broker reviews on verified data from each brokers official website, supplemented by public regulatory disclosures. Using a structured scoring system, we evaluate key aspects like regulation, fees, platforms, and customer support. Each metric is individually rated and contributes to a brokers final score, which is reviewed by our editorial team. Reviews are regularly updated to ensure accuracy, transparency, and relevance.
Disclaimer
The information provided in this broker review is for educational and informational purposes only and does not constitute financial advice. Trading financial instruments involves substantial risk and may not be suitable for all investors. Readers should conduct their own research and consult with a licensed financial advisor before making investment decisions.

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ZFX Broker Review: Versatile Trading on a Global Scale
ZFX Broker Review: Versatile Trading on a Global Scale
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