WikiFX Review: Is it okay to invest in Z Forex

Z Forex | 2023-10-23 17:37

Abstract：This article is about to give you a comprehensive understanding of a broker called Z Forex. We analyze this broker based on various aspects, and you should not miss it.

About Z Forex

Z Forex, also known as Z Forex Capital Market LLC, based in Saint Vincent and the Grenadines, is a forex broker registered in Bulgaria. Z Forex offers investors a variety of market instruments, including Forex, Commodities, CFDs, and Cryptocurrencies.

Regulation Status

According to what we know so far, Z Forex is an unregulated forex broker. WikiFX has labeled this broker “No License”. Investing in an unregulated broker is relatively dangerous as you are not under legal protection. WikiFX has given this broker an alarmingly low score of 1.70/10.

Trading Platform

Z Forex provides traders with advanced trading platforms for all levels of traders, including MetaTrader 5 (MT5), Mobile Apps (Android and IOS), and MetaTrader Web App.

Spread & Commissions

Z Forex provides a flexible approach to spreads and commissions, tailoring them to different trading accounts to accommodate diverse trader preferences.

Account Types & Minimum Deposit

Z Forex offers a tiered selection of trading accounts—ECN, STD, and SWAP FREE—tailored to different trader needs and capital levels.

ECN Account:

For traders seeking tight spreads and direct market access. Minimum deposit: $10. Spread 0 pips. Commission: $10 for Forex, $15 for Metals. Leverage up to 1:1000. Margin call: 100%. Stop out: 20%. No swap-free option.

STD Account:

Designed for cost-efficient trading. Minimum deposit: $1,000. Spread: 0.5 pips. No commission. Leverage up to 1:1000. Margin call: 100%. Stop out: 30%. No swap-free option.

SWAP FREE Account:

For interest-free trading. Minimum deposit: $2,500. Spread: 0.7 pips. Commission: $10 for Forex, $15 for Metals. Leverage up to 1:1000. Margin call: 100%. Stop out: 50%. Offers swap-free trading.

Z Forex on Social Media Platform

Z Forex has official accounts on multiple social media platforms, including X (former Twitter), Facebook, YouTube and Instagram. On X, the official account of this broker has only 32 followers. It also doesnt look great on Facebook, which only less than 20 people follow Z Forex. Even on YouTube, the trader has only about 1,000 followers.

Comments About this broker on WIkiFX

The majority of the comment related to this broker is positive. However, don't just blindly invest, and be sure to do your own research before making a decision.

Conclusion

Although we have not received complaints against this broker yet, we ask you to be aware of the potential risks. Considering Z Forex has been given such a low score by WikiFX, we advise you to avoid this broker as possible as you can. Investing in an unregulated broker is dangerous and cruel. WikiFX contains details of more than 50,000 global forex brokers, if you want to know more information about the reliability of certain brokers, you can open our website (https://www.WikiFX.com/en). Or you can download the WikiFX APP for free through this link below (https://www.wikifx.com/en/download.html).

Broker

Related broker

No Regulation

Z Forex

Company name：Z Forex Capital Market LLC

Score

1.38

Website：https://zforex.com/

2-5 years | Suspicious Regulatory License | Suspicious biz area | High potential risk

Score

1.38

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