ZFX review and ratings

Established 2017
Location UK Seychelles
Regulation FCA
Offices London, Mahe
Broker type STP | ECN
Leverage up to 1:2000
Deposit from 50 USD
Spreads low  low
Platforms MetaTrader 4
Instruments Currencies Crypto Indices Metals Energies Stocks
Funding methods Wire Transfer Credit Cards Skrill Neteller Perfect Money Tether

Company information

ZFX group includes 2 related companies.

ZFX UK - located in the United Kindom, regulated by the Financial Conduct Authority (FCA).
ZFX SEY - located in the Seychelles, regulated by the Seychelles Financial Services Authority (SFSA).

Be aware, UK company has some trading restrictions because of the European Securities and Markets Authority (ESMA) influence.
At the same time, SEY company accepts European traders, so one can open a trading account there.

Availability

ZFX group accepts clients from all over the world, excluding US and some countries on the OFAC sanctioned list.

Distinctive features

Trading instruments

Forex broker offers the following underlying assets for trading.

60+ Currency Pairs Based on major and minor world currencies.
3 Crypto Pairs Based on Bitcoin, Ethereum, Litecoin.
15 Indice CFDs Based on baskets of different blue-chip stocks and US Dollar Index.
5 Metal CFDs Based on Gold, Silver, Platinum, Palladium, Copper.
3 Energy CFDs Based on Crude Oil (WTI, Brent) and Natural Gas.
30+ Stock CFDs Based on shares of most top-rated US companies.

Comprehensive review

Regulated in the UK by the well-known Financial Conduct Authority (FCA) and internationally by the Seychelles Financial Services Authority (SFSA), ZFX (short for Zeal FX) is a forex and CFD broker that offers ultra-high leverage on a range of trading instruments. The broker uses the classic MetaTrader 4 (MT4) as its trading platform, and accepts both EU-based clients and others under its Seychelles-registered branch.

Worth noting about ZFX and many other brokers that are regulated both in Europe and offshore is that the trading conditions can vary quite a bit depending on which branch of the broker a client is signed up with. In the case of ZFX, maximum trading leverage is at most 1:100 for anyone accessing the website from inside of Europe, while it can go as high as 1:2,000 for traders based outside of Europe. Fortunately, however, ZFX does accept European clients under its offshore branch, as long as they visit the website using a VPN that routes web traffic through a third country.

Although ZFX does not have the widest selection of trading instruments we have seen, the selection is still respectable and includes most commonly traded assets. For example, stocks of many popular US-listed companies, precious metals, various energy commodities, forex, and some cryptocurrencies are all available. What’s missing, however, would be bonds, ETFs and a wider range of cryptos, which we believe this broker should consider adding in the future to make their offering more attractive.

Moving over to the account types that new clients can choose from, it’s clear that ZFX, like many other brokers, values its best clients who can deposit at least USD 1,000. For this amount, a new trader would qualify for the ECN account, which offers the lowest spreads, starting from just 0.2 pips.

Still, however, we are happy to see that ZFX has managed to keep spreads quite low across all of the account types it offers, with 1.3 pips being the minimum spread on the Standard STP account. Last among the account types is the beginner-level Mini Trading account, which offers spreads from 1.5 pips for a minimum deposit of just USD 50.

Once signed up, newly created trading accounts can be funded with all of the usual e-wallets like Skrill, Neteller, and Perfect Money. Further, bank transfer and credit/debit card payments are of course also available, and so are deposits made with the crypto stablecoin USD Tether. The broker promises that deposits and withdrawals are processed near-instantly, with no fees charged by the broker for handling these requests.

In case of any issues during trading or the sign-up process, ZFX’s London office can easily be reached by phone between 9 am and 6 pm UK time. To instead reach the international office, email or live chat on Telegram or via the website are the preferred contact options, and the broker promises that it is reachable through these means 24 hours a day, 7 days a week.

In conclusion, we see ZFX as a potentially interesting forex broker for traders seeking high leverage and trading on the MT4. Keep in mind, however, that the ultra-high leverage is only available here for clients registered with the offshore branch of the broker, which also means that consumer protection schemes are not necessarily in place. As a result, we advise all traders to do their own thorough research, and only deposit funds with forex brokers they truly trust.

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