Question 1

Is ZFX a regulated and safe broker for forex and CFD trading?

Accepted Answer

Yes, ZFX is a regulated broker operating under two main entities: Zeal Capital Market (UK) Limited is authorized and regulated by the UK Financial Conduct Authority (FCA) with registration number 768451, and Zeal Capital Market (Seychelles) Limited is regulated by the Seychelles Financial Services Authority (FSA) under license SD027. The FCA is a highly respected regulator that ensures strict standards of transparency and fairness. Additionally, ZFX segregates client funds in designated client bank accounts, protecting traders from company insolvency risks. ZFX also participates in the UK's Financial Services Compensation Scheme (FSCS), which provides protection up to £85,000. Therefore, ZFX offers a strong regulatory framework and safety measures for client funds.

Question 2

What are the minimum deposit requirements and trading costs at ZFX?

Accepted Answer

ZFX offers three main account types with different minimum deposits and trading costs: Mini account requires a minimum deposit of $50 and features spreads starting from 1.5 pips with no commission fees; Standard account requires $200 minimum deposit with spreads from 1.3 pips and no commissions; ECN account requires a $1000 minimum deposit, offers spreads from 0.2 pips, but charges commissions of approximately $7 per lot. ZFX operates with variable spreads that can fluctuate with market conditions. There are no fees for deposits and withdrawals charged by ZFX itself, although clients may incur third-party transaction fees from their payment providers.

Question 3

What deposit and withdrawal methods does ZFX support and are there any fees involved?

Accepted Answer

ZFX supports multiple deposit and withdrawal methods, including bank wire transfers, credit/debit cards, and e-wallets such as Skrill and Neteller. While ZFX does not charge any fees for deposits or withdrawals, clients should be aware that their payment providers or banks may charge processing fees. Withdrawals to credit cards are not allowed due to issuer restrictions. Minimum withdrawal amounts vary by method; for example, e-wallet withdrawals start at $10, while bank transfers often require a minimum of $100. Withdrawal requests are typically processed within 24 hours, although the time for funds to reach clients depends on the chosen method and external institutions.

Question 4

Is ZFX beginner-friendly and what educational support does it provide to new traders?

Accepted Answer

ZFX is relatively beginner-friendly, offering a Mini account with a low minimum deposit of $50 tailored for new traders, coupled with access to the widely used and user-friendly MetaTrader 4 platform, including mobile versions. The broker also provides a demo account for practice without financial risk. Educational resources include an A-to-Z Academy covering basic to advanced trading concepts, video tutorials, webinars, trading guides, and a glossary to clarify trading terminology. They also have a 24/7 Help Center for ongoing support. However, some limitations include no Islamic accounts, and some traders may find the educational resources less comprehensive compared to other brokers.

Question 5

What trading platforms and leverage options are available at ZFX?

Accepted Answer

ZFX offers trading through the popular MetaTrader 4 (MT4) platform, known for its robust charting tools, technical indicators, and automated trading capabilities. The MT4 platform is accessible on desktop, web, and mobile devices (iOS and Android). ZFX also provides its proprietary ZFX Trader platform and a mobile app designed for portfolio management and trading on the go. Leverage at ZFX can be as high as 1:2000, but it depends on the account type and trading instrument, with a tiered margin system where accounts with equity up to $3,000 can access 1:2000 leverage, and equity between $3,001 and $10,000 can access up to 1:1000 leverage. Traders are cautioned about the risks of high leverage.

Question 6

Does ZFX offer copy trading and what customer support services are available?

Accepted Answer

Yes, ZFX offers a copy trading feature that enables traders, especially beginners or those with limited time, to replicate the trades of experienced and successful traders automatically. This can help increase the potential for profitable trades and learning opportunities. Regarding customer support, ZFX provides multiple channels including live chat, email (cs@zfx.com), phone support, and active social media presence on platforms like Facebook and Instagram. Support is available 24/5 on weekdays and extended weekend hours, with multilingual service catering to English, Chinese, Thai, Vietnamese, and Indonesian speakers.

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