RECOMMENDED FOREX BROKERS
Stability is what we can say defines ZFX, where we to define a single the company with a single word. The environment in which ZFX inhabits is a fair and secure one, although it may be confusing at times becaseu the company is quite limited in terms of information it discloses. This might be a tactic of sorts, but in our experience it’s better for a brokerage to reveal as much about itself as possible in order to give traders the best version of the story the firm is trying to tell.
Zeal Capital Market (UK) Limited is regulated by the FCA, an agency that needs no introduction.. It’s one of the top regulators in the industry, constantly applying and innovating, while keeping true to the UK market and never neglecting the core beliefs of the market investing community. All brokers under the FCA are also providers of a compensation fund that reimburse users whose brokers become insolvent and cannot pay them back. The maximum compensatory value is £85 000.
Zeal Capital Market (Seychelles) Limited is licensed by the Financial Services Authority of Seychelles. Although an offshore regulator, Financial Services Authority is still a respectable entity. It also scrutinizes over rules and regulations, although not as much as the FCA. One of the most important rules is for all brokers to hold a minimum operational capital of at least $50 000.
Zeal Capital Market (UK) and Zeal Capital Market (Seychelles) are subsidiaries of Zeal Holdings Limited which, in part, is the owner of a range of companies under the Zeal Group name.
The review will be of the UK domain of Zeal Capital Market, under the URL zfx.co.uk. There shouldn’t be a difference in the trading conditions between the two subsidiaries. The only reason that there are to firms, is so the broker can be accessed by a more international audience. With a Seychelles-based subsidiary ZFX can be reached by many non-EU investors.
There are two account types: a Standard one and an ECN one. We could not open a live account, because it requires a serious dedication to the brokerage platform. We usually aim to create demo account with legit brokers, but here we failed due to an unexpected error in the creation process itself. However, we have no issue in trusting the website with all of the trading conditions.
The available financial instruments are forex currency pairs, commodities, and indices. According to the site’s live price tab, the EUR/USD cost of trade is 1.1 pips. The leverage is capped at 1:30 for EU retail users, and 1:100 for all non-EU users.
ZFX LOGIN
The user area reveals the availability of the MT4. We could not enter the MT4, but we confirm its presence.
The MT4 is the default broker trading software, and for a good reason. Actually, the reasons are hundreds, all of which center around its superb ability to converge stability, initiative, user growth, and services into one supreme package.
ZFX MINIMUM DEPOSIT
All payment info will be taken form the website, for the same reason as the one that forced us to take all payment info form the website. However, seeing that the broker is regulated by the FCA, we can trust it.
Unfortunately, there are no payment details disclosed anywhere on the website. It seems that the broker has thought it wise to not include payment details anywhere. We don’t approve of this approach, because payment pros and cons are for some the deciding factor.
ZFX WITHDRAWAL METHODS AND FEES
All withdrawals are safe and sound. That’s the FCA guarantee.
Nevertheless, as we already revealed, there are no payment detaisl revealed anywhere. The broker keeps this hidden, and discloses them only to verified customers.
BOTTOM LINE
ZFX is a worthwhile broker, that does things right, although the missing payment details might be a turnoff for some. Overall, this broker offers stable trading grounds, although it does not go beyond that.
