zForex Review

Introduction

zForex is an online forex and CFD broker established in 2022, operated by Z Forex Capital Market LLC out of Kingstown, St. Vincent and the Grenadines​. Despite being a relatively new broker, zForex has many exciting offerings like very high leverage of 1:1000, low spreads, bonuses, and 100+ tradable instruments.

This broker is licensed by the Mwali International Services Authority (MISA) in Comoros (License No. T2023321)​ making it an offshore broker. The offshore regulation allows the broker to go above and beyond in offering high leverage and bonuses. But on the flipside, traders do not get the investor protection that Tier-1 regulated brokers offer. 

The broker’s tradable asset range is wide: clients can trade major, minor, and exotic forex currency pairs, key global indices (US, Europe, etc.), precious metals like Gold and Silver, energies like Oil, a selection of stocks (offered as CFDs on popular U.S. and European equities), and leading crypto currencies.

Supported Countries

To know about a broker’s availability in a country, it is usually better to look at their list of restricted countries. The availability of a broker in a country can change over time. You can always check these while creating an account with a brokerage. But to make it more convenient for you, we show you brokers that are available in your country by default. We do this with a geotargeting feature on our website. 

When we talk about zForex, the broker is available in most countries around the world. The countries where it is not available are the United States, North Korea, Iran, Myanmar, and Turkey. If you are not from these jurisdictions, you are not likely to face any issues when creating an account with zForex.

Trading Platform

zForex is equipped with the latest MT5 and cTrader trading platforms. Besides other features, traders can trade straight from their laptops, tablets, and smartphones. Even if you are not a seasoned trader, the $10 minimum deposit makes it easy to get started. However, the OG MT4 platform is not available on zForex, which can be a problem to some MetaTrader 4 loyalists. MT5, is a slight upgrade from the traditional MT4. So, it can be a learning curve but not a deal breaker. 

An added benefit of cTrader is that you can copy the trading strategies of your favorite traders. Other advanced features you have on zForex are scalping and hedging, equipping you with tools for more advanced trading strategies.  

Tradable Instruments

Forex

zForex offers an extensive range of tradable instruments including 80 forex pairs with leverage over 1:1000. You can trade 24/5 (all days when the forex market is open). 

Stocks (as CFDs)

Besides forex, you can also trade with US S&P 500, Dow Jones, NASDAQ 100, Germany’s DAX, UK’s FTSE, etc. The market for indices is usually less volatile compared to single stocks.

In terms of stocks, you can trade with a selection of popular stock CFDs from the U.S. and Europe. For example, traders can go long or short on big names like Amazon, Apple, Tesla, Microsoft, JPMorgan, as well as European blue chips like BMW, Unilever, BP, Vodafone among others​.

Commodities

The commodities you can trade with zForex include precious metals like Gold and Silver, energies like Brent and WIT (crude oil benchmarks), and other agricultural commodities.

Cryptocurrencies

You can also trade with cryptocurrencies as CFDs. You can speculate with popular ones like Bitcoin, Ethereum, Ripple, USDT, etc.

Deposit and Withdrawal Methods

zForex stands tall when it comes to deposit and withdrawals, whether you talk about the minimal time or maximum options. Clients can make or receive payments with credit cards, debit cards, wire transfers, e-wallets, and cryptocurrencies. The best part is there are no high withdrawal fees unlike many brokers. The only condition is that your withdrawal amount must be higher than $10. 

As for the time it takes for a transaction to complete, it ranges from instantly to the same working day (max 24 hours). Again, these are impressive numbers for a broker as others can take longer. 

The following are the deposit and withdrawal methods you can use:

Credit Card

•   Visa, Mastercard

Wire Transfer

•   Help2Pay
•   Payment Asia
•   Transact 365

e-Wallets

•   SticPay
•   Jeton
•   FasaPay
•   MOMO
•   Promptpay
•   True Money
•   Duitnow

Cryptocurrency

•   Bitcoin
•   Ethereum
•   Litecoin
•   Tether (TRC20)
•   Tether (ERC20)
•   USD Coin

Affiliate Program

zForex broker also has an affiliate program which can help traders earn competitive rebates of up to $12 per lot traded and commission cashback of up to 100% of spreads. To track your affiliate, there is an advanced IB portal you can benefit from. So besides making money directly from trades, you can also earn commissions with your network. 

Customer Service

The customer service aspect of zForex is on the level of many popular mainstream brokers. The 24/5 support is a significant level up from the usual limited hours support. You can access the support with your desired channels like live chat, email, and phone. 

Besides the availability, the multilingual support with 9 languages is truly amazing. Support in regional languages makes it easier for customers who do not speak English as their first language. You can reach their support at [email protected] or call them at +44 745 802 9958.

Knowledge Base

Many popular brokers have a dedicated knowledge base to help their clients find answers, learn things about trading, and stay on top of the latest trading news. zForex also has plenty of resources to help with trading education of their clients. 

You can watch tutorials on how to use MT5, which is great for MT4 loyalists now willing to explore MT5. There is also a section focused on teaching people how to trade with multiple sections you can explore. There is also an e-book section which can be great for people really invested in learning trading. Lastly, there is an active blog section where you can read content on many interesting trading topics. 

Company Details

Incorporated as a limited liability company in St. Vincent and the Grenadines, Z Forex Capital Market LLC holds registration number 2145 LLC 2022. Its official address is Euro House, Richmond Hill Road, P.O. Box 2897, Kingstown, VC0100, St. Vincent and the Grenadines. The other office address for the company is Sofia, Olimpiyska str., SiteGround, Sofia Park, fl. 4, No: 2, post code: 1756, Bulgaria. The company has been operating for 3 years and has a 4.8-star rating on Trustpilot. 

Regulations

The company has an offshore regulation in Mwali International Services Authority (MISA) Saint Vincent and the Grenadines with the license number MISA- T2023321. It is not a top-tier regulation but a valid regulation, which adds a level of satisfaction and security for the customers. 

Conclusion

All things considered, zForex is a great option for those who prefer high leverage, flexibility, and access to MT5 and cTrader trading platforms. With a plethora of advanced features, tradable instruments, intuitive platforms, and high leverage, there are plenty of things that traders can benefit from. The options in customer service are great as well. However, the broker is fairly new and lacks tier-1 regulations. So, you cannot expect to get investor protection features. 

To wrap things up, if you are someone who prioritized high leverage and advanced features, zForex can be great for you. Otherwise, you can opt for established brokers with multiple years of service provided to customers.