Zfx.com is a broker operated by a Sychelles-based company, Zeal Capital Market. They currently have Zfx.com and Zfx.co.uk (which obviously serves their UK clients). The broker offers two account types (Premium and Pro trading accounts) where minimum deposit is either $15 or $1,000 depending on whether you want standard or ECN trading conditions. Zfx is regulated by both the FCA and the FSA. Brokers who are regulated by the FCA tend to be more professional and reliable unlike those who are regulated by offshore licensing agencies.
Despite this broker having existed on the internet for quite some time, we fail to find any negative reviews or criticism about the quality of service they offer. There are only positive reviews — and we mean only “positive reviews”. This is a bit weird considering that there are no serious companies out there whose ratings will remain 5 star throughout the season unless they’re engaging in phony marketing campaigns. On the other hand, if a broker like Zfx is truly honest with their clients, then these highly recommended trading products and signals services can be of great help to new traders who are struggling to make consistent returns from the financial markets.
Zfx.com (Zeal Capital Market) Review
The website is quite professional to start with. Tradeable instruments include Forex, Indices, Commodities, Stocks, Gold and Silver. The broker promises over 35 currency pairs and also says that they have the lowest spread in the industry.
Zfx.com also promises low latency because they are allegedly sourcing their liquidity providers from Tokyo, London and New York. Specifically they are working with Equinix data center.
According to online reviews about this broker, traders are saying that their ECN account offers the best spreads for scalping. But one major complaint that traders have against Zfx is that the minimum deposit is in the zone of $1,000, which is quite high considering that serious brokers are nowadays allowing live trading for as little as $250. Restricting people to a minimum deposit of $1,000 is not a good idea.
Is Zfx.com (Zeal Capital Market) a legit broker?
Truth be told — we signed up and loved the client dashboard. It is neat and every useful feature is just within reach.
They offer MT4 software for trading in addition to a feature that allows fund managers to work with other traders.
However, we noticed that one must download the MT4 trading software and that traders have no way of accessing and using the charting application online.
These are some of the cons of considering Zfx. In addition to this, we’re looking for brokers that won’t disturb us with the document verification problems. ZFX.com is strictly a KYC broker hence they still can’t compete with no KYC Forex broker that are easy to get started with.
Whereas this broker may not be a scam, we can’t rule out the possibility that Zfx.com is probably using forums and online blogs to gain a reputation.
All the reviews and comments that we saw on the internet are all positive — and we are beginning to smell a rat since it is practically not possible for a Forex and CFDs broker to please every trader.
We are somewhat seated on the fence as we find it weird that this broker is somehow loved by everyone including traders who are fussy.
Pleasing everyone is not possible, and we rely on this theory to suspect that Sfx.com is probably engaging in under-hand tactics to promote their service online.
If you are going to use this broker, we advice that you move with caution still because they are not an obvious scam like Antrush but at the same time raising suspicious when it comes to how “everyone is talking about them online”.