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ZForex is a forex broker located in Mwali, regulated by the Mwali International Services Authority (MISA).
ZForex group accepts clients from all over the world, excluding Turkey and some other countries where restrictions apply.
Forex broker offers the following underlying assets for trading.
| 50+ Currency Pairs | Based on major and minor world currencies. |
| 5 Crypto Pairs | Based on Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Ripple. |
| 11 Indice CFDs | Based on baskets of different blue-chip stocks and US Dollar Index. |
| 6 Metal CFDs | Based on Gold, Silver, Platinum, Palladium. |
| 3 Energy CFDs | Based on Crude Oil (WTI, Brent) and Natural Gas. |
| 7 Soft CFDs | Based on Coffee, Cocoa, Cotton, Sugar, Corn, Soybean, Wheat. |
ZForex is a forex brokerage registered offshore in Mwali (MISA regulation), but with its actual physical office in Bulgaria. The broker offers very high leverage, a respectable range of trading instruments, and trading on the popular MetaTrader 5 (MT5) and cTrader platforms.
Worth noting about ZForex is that it states on its website that it “does not accept clients from Turkey, United States and Europe.” However, there is no definition of which specific countries “Europe” refers to, and whether it refers to all EU/EEA countries or just some. As such, one way to deal with this would be for European traders to simply try to sign up and see if they get accepted after selecting their country of residence.
Another thing that is important to note about ZForex is that this is a fairly new player in the industry that started out as recently as in 2022. Because of this, there is limited information available online from independent sources about the broker, and few traders have experience with it. As always, we therefore urge everyone to do their own proper due diligence before depositing money with this or any other forex broker.
The instruments that can be traded from ZForex include more than 50 forex pairs, a handful of the most popular crypto pairs, major stock indices, as well as precious metals and some other commodities. One thing that stands out here is that the broker does not offer any single stocks for trading, which we think is a bit unfortunate.
All of the assets on ZForex are traded as contracts-for-difference (CFDs), which is the most popular way to trade among retail traders. Among other things, CFDs make it easy to bet on the price direction of an asset without actually owning the underlying asset. This can be done easily both on the long side with a buy order or on the short side with a sell order. In addition, high leverage of up to 1:1,000 is available from ZForex. This means that even a small trading account can be enough to make big profits.
In terms of account types, ZForex has two regular options plus one Islamic swap-free account. These two accounts are an ECN account with commissions from $3 and spreads from 1 pip, and an STP account - which funnily enough appears to be misspelled as an “STD account” - with commission-free trading and spreads from 1 pip.
Trading accounts can be funded with all of the usual methods such as bank transfer, major credit and debit cards, SticPay and Perfect Money. We are also happy to see that ZForex accepts cryptocurrency deposits made with Bitcoin (BTC), Tether (USDT), Ethereum (ETH), and Litecoin (LTC).
All of the account types have a minimum deposit requirement of $10 to start trading.
To reach ZForex’s customer support, clients can call a Bulgaria-registered phone number, use WhatsApp or a live chat option via the website, or send an email. Unfortunately, the broker has not published any information about its support team’s working hours, which usually means that 24-hour support is not available.
In conclusion, we have the impression that ZForex is trying to establish itself as a broker with a primary focus on forex trading, and less so on stocks, commodities and crypto. However, this broker could still be a good choice, especially for traders who like to trade on MT5 and are looking for the highest leverage. As always, however, it’s worth being extra careful when it comes to unregulated forex brokers, and only deposit money with brokers that are 100% trustworthy.
Customer service is efficient and resolves issues promptly. It's reassuring to have reliable support.
The ability to deposit and withdraw using cryptocurrencies like ethereum and litecoin is a significant advantage. Fawc: transactions are processed swiftly and there are no hefty fees involved. Qquite often they offer different kind of bonuses, some of them are for current clients, which is great.
Trading here for few months. Reliable broker. Good reputation. Fast withdrawals.
Zforex provides a user-friendly experience with their MT5 platform. The wide range of deposit options including major cryptocurrencies is convenient. Though the lack of educational resources is noticeable, their daily market analysis is helpful I look at it almost every day. Also, customer service is responsive and resolves issues promptly.
Usually the withdrawal is the most painful part in forex brokers but surprisingly I never had any issues with zForex.
Great customer service. Whenever I need assistance, the support team reaches out quickly.
The support team really knows the business, they helped me with all my questions and concerns about trading.
The customer support works great, they have always been helpful. Fast withdrawal and deposit options. Crypto option is also amazing.
Good for EA trading, I have never come across any problems, especially during withdrawals.
ZForex offers competitive spreads and a reasonable commission structure, tight spreads, high leverage options are available too.
Good customer service. When I started verification of my account, I had a problem uploading my ID. I contacted their customer support and they resolved my issue within a few minutes.
Zforex's swap free account is just perfect. The spreads are way lower than most other brokers (with swap free accounts) offer, especially on major pairs like EUR/USD and USD/JPY. Account opening process was quick and easy, and customer support was very helpful.
I generally trade with different products. Hedging them with eachother. Since zForex have major-minor FX, cypto, indices, stocks, gold, and oil, I'm happy with the platform.
The swap free account conditions at ZFX are decent, but not ideal for high volume trading. While the spread of 0.7 pips and max leverage of 1:1000 are good, the 50% stop out level can be risky. However, the ECN account's lower 20% stop out level is a plus, despite incurring swaps.
The stop out level on the swap-free account at zForex felt a bit high for my comfort. So, I transitioned to the Standard account where spreads are stable and similar. While some might say I'm over risking, trading gold means sharp moves can be unforgiving. The switch helps me manage my risk better.
At ZFX, I like the consistency of the spread on the Standard account, set at just 0.5 pips with a minimum trade size of 0.01 lots. It's respectable that the transparency extends to small account holders like myself, making trading hassle-free and predictable.
Using zForex for both forex and crypto trading has been stress free. Their speed and reliability with deposits and withdrawals have kept me a satisfied customer for the long haul.
I find ZForex's minimum deposit requirement of 10 USDT for USDT accounts to be beneficial, as it makes trading accessible. Being able to replenish my account with a small amount ensures that I can engage in trading activities without a significant deposit.
I like ZForex's support of USDT due to its stable value, ensuring that 100 USD equals 100 USDT upon deposit. This stability minimizes fluctuations in pricing, resulting in fewer charges, which, although not significant, contribute to a smoother trading experience.
After a positive demo experience with zForex, I transitioned to a live account. Trading crypto has been smooth with ample options and good spreads. Fast withdrawals, easy platform, and better leverage keep me loyal after 14 months.
True ecn broker with tight spreads. Added quite fast vps and the trading is going really smoothly.
Their ECN account caught my attention for its suitability in scalping. Also, the generous stop-out level provides flexibility to hold trades a bit longer when the initial predictions might be off.
To mitigate frequent commission hits, I've adjusted my strategy to hold well-timed entries throughout the day. Still, despite the attractive features like minimum deposit, spread, and leverage, the commission aspect does influence my decisions with their ECN account.
ZForex has significantly contributed to optimizing my potential returns through their consistently low spreads. The competitive commissions and transparent fee structure are commendable, with a lack of hidden charges.
While the absence of copy trading is a drawback, my experience with ZForex has been positive. The demo contests promote disciplined trading, aligning it with sustainable practices. Adherence to risk management ensures eligibility for the contests and secures the withdrawal of bonuses during promotions.
A reliable broker with a stable platform. Minimal price fluctuations and satisfactory limit order execution. Almost no requotes, and they handle orders quite well even during news releases. Thumbs up, recommend.
I've been with ZForex for 18 months and I'm really happy with it. The platform is fantastic with tight spreads and lots of features.
I only faced one issue in all this time when the platform froze while closing a trade. I reached out to ZForex support, and they responded almost instantly. They even refunded the full amount of the trade based on when I tried to close it. The support is really good, and it's been a positive experience overall with ZForex.
In my opinion zfx is a fast broker in all aspects. Fast verification, fast platform, fast withdrawal. I hope the will remain like this in the future too.
Working with them has been a pleasure, the trading conditions are exceptional. The only drawback for me is the absence of French support, which is a bit disappointing. Nevertheless, everything else, from withdrawals to deposits, has been smooth and hassle-free. I am happy with the overall quality of service they provide.
I'm trading with Zforex using a real ECN account. Works well for me, especially when using trading robots. It's great that the broker permits the use of robots and expert advisers. Another positive aspect is the deposit bonus - makes the overall trading experience with Zforex quite fitting for my needs.
The execution speed at zForex is notable. The quick order processing greatly helps my scalping strategy, ensuring my trades are executed promptly and at the intended price.
The new 'close all' feature on Metatrader 5 has been a game-changer for me. When I'm scalping USDJPY, I love the ability to close orders in bulk quickly. It not only streamlines my trading but also acts as a kill switch when I sense the market's about to go south. It's precisely what zForex needed to make their ECN account a 10/10 in my book.
Chose the STD account because of its moderate spread. With just 0.5 pips, it's surprisingly tight compared to what some other brokers offer. For traders like me who value lower spreads but aren't keen on commission fees, this balance hits the sweet spot. It's a practical choice that lets me keep trading costs in check while still enjoying competitive spreads.
When it comes to z forex's ECN I account, I find it suitable for scalping. The low stop out level is a real advantage, allowing me to hang onto a trade a bit longer, even if I'm initially wrong about it. However, what doesn't sit well with me is the commission they charge. At $10 per lot for forex pairs and $15 for metals, it's a tad on the expensive side. Because of this, I often find myself holding onto a well-timed entry throughout the day to avoid frequent commission hits. While the other features like the minimum deposit, spread, and leverage are attractive, the commission structure does affect my trading decisions with this account.
