Beatrice Quinn
Reviewed by:
Sikirty Chatterjee
USPs: Regulated by Seychelles FSA & UK FCA | STP/ECN accounts with spreads from 0.2 pips | MT4 platform on desktop & mobile
ZFX (operated by Zeal Capital Market) is a multi-asset online broker founded by veteran traders. Its headquarters are in Providence Industrial Estate, Mahé, Seychelles, with additional branches in Asia. Since its launch, ZFX has positioned itself as a technology-driven CFD provider for retail and institutional clients. It has earned recognition such as the “Best Trading Service in Thailand 2022” award, reflecting its strong presence in Asian markets. The broker offers over 100 instruments (forex, indices, commodities, shares, crypto) and emphasizes competitive pricing and market-neutral execution. ZFX’s platform support and global offices (e.g. an Indonesia branch opened in 2021) underscore its growth in the global trading landscape.
🏦 Headquarters: Room 2, Providence Industrial Estate, Mahe, Seychelles
📅 Founded: [Not specified on official site]
📜 Regulation: Seychelles FSA (License SD027) and UK FCA (FRN 768451)
🌍 Supported Countries: Global (offices and languages span Asia, Middle East, Europe)
💻 Platforms: MT4 (Windows, Mac, Web, iOS/Android), ZFX Mobile App
💵 Min Deposit: $50 (Mini Account)
ZFX originated from Zeal Group, with a mission to deliver “next level” multi-asset trading to both retail and institutional clients. It operates a market-neutral STP/ECN model using cutting-edge technology, focusing on sourcing the best prices in the institutional marketplace. The firm maintains strict corporate governance and transparency – for example, client funds are fully segregated in a designated account. Over time, ZFX has grown its client base worldwide, particularly in Asian markets, and achieved regulatory milestones (FSA Seychelles license, FCA UK registration) that support its global expansion.
ZFX vs Competitors: Key Differences:
ZFX operates under two regulated entities: Zeal Capital Market (Seychelles) Ltd (FSA license SD027) and Zeal Capital Market (UK) Ltd (FCA FRN 768451). For most retail traders, accounts are held with the Seychelles arm, which is regulated by a Tier-3 authority (the FSA of Seychelles). This means the broker meets local compliance standards but does not offer the same level of deposit insurance or oversight as Tier-1 regulators. The UK entity is fully regulated by the FCA, but it serves only institutional clients. Overall, ZFX’s mixed regulatory structure implies that while there is official oversight and segregated funds (enhancing trust), retail client protection is lower than at FCA/ASIC brokers. Traders should therefore consider this tier-3 regulation and ensure strong risk controls when trading with ZFX.
✅ Instruments: Forex, Stock Indices, Commodities, Shares, Crypto CFDs
✅ Spreads: Raw spreads from 0.2 pips (on ECN account)
✅ Commission: No commission on Mini/Standard accounts; low commission per lot on ECN accounts (as per trading volume)
✅ Leverage: Up to 1:2000 on major FX/Gold (tiered by equity)
Instruments: ZFX offers a broad multi-asset lineup. Clients can trade 100+ instruments including all major forex pairs, global stock indices, energy and metal commodities, and CFDs on shares of leading companies. Crypto CFDs are also available (e.g. Bitcoin, Ethereum) for speculative trading. The broker sources liquidity via multiple providers, so execution is generally fast and prices align with global markets.
Spreads: Trading costs depend on account type. The Mini account has wider spreads (from ~1.5 pips on EUR/USD), the Standard STP account offers tighter spreads (from ~1.3 pips) and the ECN account provides raw spreads from 0.2 pips. During high liquidity periods, ECN spreads can approach zero. All spreads are variable and reflect real-market pricing; there are no fixed-spread options at ZFX.
Commission: ZFX integrates brokerage costs into spreads for Mini and Standard accounts (no separate commission). The ECN account has a standard commission structure (competitive per-lot fees on both buy and sell sides). The official site notes “commissions may apply” for ECN spreads. Overall, ZFX is considered low-cost: it charges no additional fees for deposits or withdrawals, and its ECN commissions are in line with industry norms.
Leverage: Maximum leverage goes up to 1:2000 for FX and gold for smaller accounts. Leverage automatically scales down as account equity increases – for example, max 1:2000 up to $3,000 equity, then 1:1000 up to $10,000, and so on. Other asset classes (indices, commodities, stocks) have lower caps. This tiered leverage approach manages risk: higher balances see lower leverage by system design.
Supported Platforms:
Platform Features:
Research & Tools: ZFX provides several in-platform and web-based tools:
Copy Trading Integration: Users can follow or copy successful strategies from other traders (ZFX’s proprietary social trading tool).
| Account Types | Min Deposit | Spread (from) | Commission | Platforms |
| Mini Trading Account | $50 | 1.5 pips | None | MT4 |
| Standard STP Trading Account | $200 | 1.3 pips | None | MT4 |
| ECN Trading Account | $1,000 | 0.2 pips | Low (per lot) | MT4 |
ZFX also offers a Demo account (unlimited virtual trading) for practice. The broker’s MAM/Managed Account service allows professional money managers to trade client funds. (Note: The site does not mention any Islamic or swap-free accounts, nor a dedicated “VIP/Premium” account type beyond the standard tiers.)
Trading with ZFX is straightforward. The registration and funding process is quick, and the popular MT4 platform makes order entry familiar to most traders. Even beginners can open an account in minutes, while advanced users can employ EAs and custom indicators on MT4. Overall, ZFX’s trading environment is user-friendly and efficient, with simple on-boarding and flexible funding facilitating fast access to the markets.
Support Channels: ZFX provides multiple support options:
Support Hours: ZFX offers essentially round-the-clock support on trading days: weekdays 24 hours a day, and reduced-hours on weekends (07:30–02:00 CST).
Additional Details:
“Ideal for global traders seeking tight STP/ECN pricing and professional-grade MT4 trading”
Avoid: ZFX if you require fixed spreads or are located in restricted countries (USA, EU, Canada, etc.). Also, traders looking for a wide range of proprietary platforms (MT5/cTrader) or local currency accounts may find ZFX limiting.
In summary, ZFX is a well-regulated (FCA/FSA) multi-asset broker with low-cost trading conditions. It shines with its tight ECN-style spreads (from 0.2 pips) and comprehensive MT4 platform offering. Its global footprint and segregated fund policy add confidence, while the diverse asset offering makes it versatile. On the downside, it lacks fixed-spread accounts and full EU/US coverage. Overall, ZFX delivers excellent value for traders prioritizing low fees, strong regulation, and the familiar MT4 environment.
2025 BROKERINSPECT
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