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Do you want to know which is the better broker between FX Choice and ZFX ?
In the table below, you can compare the features of FX Choice , ZFX side by side to determine the best fit for your needs.
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EURUSD:-0.2
EURUSD:-0.9
EURUSD:17.07
XAUUSD:34.57
EURUSD: -6.02 ~ 2.52
XAUUSD: -23.85 ~ 12.4
You can determine the reliability and credibility of a broker by checking four factors:
1.Forex broker introduction。
2.Are the transaction costs and expenses of fx-choice, zfx lower?
3.Which broker is safer?
4.Which broker provides better trading platform?
Based on these four factors, we can compare which is reliable. We have broken down the reasons as follows:
Registered in | Belize |
Regulated by | FSC |
Year(s) of establishment | 2-5 years |
Trading instruments | Currency pairs, indices, commodities, metals, energy, cryptocurrencies, stocks |
Minimum Initial Deposit | $10 |
Maximum Leverage | 1:1000 |
Minimum spread | 0.0 pips onwards |
Trading platform | MT4, MT5, webtrader |
Deposit and withdrawal method | cryptocurrencies, VISA, MasterCard, Perfectmoney, Skrill, Neteller, astropay and many other options |
Customer Service | Email/phone number/address/live chat/call back |
Fraud Complaints Exposure | Yes |
It is important to note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies. In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.
In this review, if there is a conflict between the image and the text content, the text content should prevail. However, we recommend that you open the official website for further consultation.
Pros:
Multiple account types with varying minimum deposits and commissions to suit traders with different needs and preferences.
The option to trade a wide range of financial instruments including Forex, metals, indices, cryptocurrencies, and shares.
Multiple platform options including the popular MetaTrader 4 and 5, as well as a WebTrader platform.
High leverage of up to 1:1000 for the Optimum account, providing the opportunity for potentially higher profits.
A variety of deposit and withdrawal methods, including popular e-wallets and cryptocurrencies, with a 15% deposit bonus available.
Comprehensive educational resources including autotrade, copy trading, and trading signals to help traders make informed decisions.
Multilingual customer support available 24/5 via phone, email, live chat, and call back.
Cons:
Limited options for those who prefer a low minimum deposit or zero commission account.
Pro account holders are charged a commission of USD 3.5 per side, which may be relatively high for some traders.
Limited to only a few trading platforms, which may not suit traders who prefer other platforms.
The maximum leverage available of up to 1:1000 for the Optimum account may be too high for some traders who prefer a lower level of risk.
The customer support service does not offer 24/7 assistance.
Advantages | Disadvantages |
FX Choice offers tight spreads and fast execution due to its Market Making model. | As a counterparty to its clients' trades, FX Choice has a potential conflict of interest that may lead to decisions that are not in the best interest of its clients. |
FX Choice is a Market Making (MM) broker, which means that it acts as a counterparty to its clients in trading operations. That is, instead of connecting directly to the market, FX Choice acts as an intermediary and takes the opposite position to its clients. As such, it can offer faster order execution speed, tighter spreads and greater flexibility in terms of the leverage offered. However, this also means that FX Choice has a certain conflict of interest with their clients, as their profits come from the difference between the bid and ask price of assets, which could lead to them making decisions that are not necessarily in the best interests of their clients. It is important for traders to be aware of this dynamic when trading with FX Choice or any other MM broker.
With a history between 2 and 5 years, FX Choice is an online forex broker regulated by FSC and is dedicated to providing a series of common forex instruments.
In the following article, we will analyze the characteristics of this broker in all its dimensions, providing you with easy and well-organized information. If you are interested, read on.
Advantages | Disadvantages |
Wide range of trading markets including currency pairs, indices, commodities, metals, energy, cryptocurrencies, and stocks | None found |
FX Choice offers a vast selection of tradable instruments, including forex, indices, commodities, metals, energy, cryptocurrencies, and stocks. This wide range of markets provides traders with numerous opportunities to diversify their trading portfolio and take advantage of different market conditions. For instance, traders can choose to trade the highly liquid forex market, take positions on the commodities market, or trade the popular cryptocurrency markets. Additionally, traders can access various indices, energy, and metal markets to take advantage of market opportunities. Overall, the broad range of trading instruments on FX Choice makes it a suitable broker for both new and experienced traders who want access to multiple markets. No disadvantages were found in this dimension.
Advantages | Disadvantages |
Competitive spreads | Pro account commission of USD 3.5 per side is relatively high |
No commission on Classic and Optimum accounts | Optimum account has higher spreads compared to other accounts |
Rebates available on Pro account |
FX Choice offers competitive spreads on all its account types. The Classic account has spreads starting from 0.5 pips, while the Optimum account has spreads starting from 1.5 pips. The Pro account has spreads starting from 0 pips but charges a commission of USD 3.5 per side, which is relatively high compared to other brokers. However, rebates of up to USD 2 per side are available for high-volume traders on the Pro account. There are no commissions charged on the Classic and Optimum accounts, making them suitable for traders who do not want to pay additional fees. Overall, FX Choice's spreads are competitive and can be considered an advantage for traders.
Demo Account: FX Choice provides a demo account that allows you to try out the financial markets without the risk of losing money.
Live account: FX Choice offers three account types: Classic, Optimum, and Pro Accounts. The Classic Account has a minimum deposit of USD 100 and offers tight spreads starting from 0.5 pips. The Optimum Account, on the other hand, requires a minimum deposit of only USD 10 but has wider spreads starting from 1.5 pips. The Pro Account has a minimum deposit of USD 100 and offers the tightest spreads starting from 0 pips. However, it comes with a relatively high commission fee of USD 3.5 per side. All account types allow for a minimum lot size of 0.01 lots, and the leverage for forex and metals trading ranges from 1:200 to 1:1000. Moreover, the accounts support different markets, including forex, indices, metals and energies, cryptocurrencies, and stocks, among others.
Classic Account | Optimum Account | Pro Account | |
Minimum deposit | USD 100 | USD 10 | USD 100 |
Tight spreads starting from | 0.5 pips | 1.5 pips | 0 pips |
Minimum lot size | 0.01 lots | 0.01 lots | 0.01 lots |
Commission charged Negative figure under ‘Commission’ in trade history | No | No | USD 3.5 per side (USD 1.5 for high-volume traders, see Pips+), per notional amount of USD 100,000 |
Rebate added Above-zero figure under ‘Commission’ in trade history | Up to USD 2 per side, per notional amount of USD 100,000. See Pips+. | Up to USD 2 per side, per notional amount of USD 100,000. See Pips+. | No |
Leverage | Forex, metals — up to 1:200; more markets. | Forex, metals — up to 1:1000; more markets. | Forex, metals — up to 1:200; more markets. |
Margin level for hedge/lock positions | 50% | 50% | 50% |
Execution | NDD, Market | NDD, Market | NDD, Market |
Margin call / Stop out | 25/15 | 25/15 | 25/15 |
Forex CFDs | 36 currency pairs | 36 currency pairs | 36 currency pairs |
More CFDs | Indices, Metals & Energies, Crypto, Shares | Indices, Metals & Energies, Crypto, Shares | Indices, Metals & Energies, Crypto, Shares |
Advantages | Disadvantages |
MetaTrader 4 (MT4) platform available | No proprietary platform |
MetaTrader 5 (MT5) platform available | No cTrader platform available |
WebTrader platform available |
FX Choice offers three popular trading platforms to its clients: MT4, MT5, and WebTrader. The MetaTrader platforms are well-known for their advanced charting capabilities and algorithmic trading options, making them ideal for both novice and experienced traders. The WebTrader platform is a browser-based platform that allows traders to access their accounts from anywhere without the need for downloading any software. However, FX Choice does not have its own proprietary platform, which may be a disadvantage for traders who prefer a more customized trading experience. Additionally, the absence of the cTrader platform may be a drawback for traders who prefer this platform for its advanced charting and order execution features. Overall, the availability of the popular MetaTrader platforms and a browser-based WebTrader platform provides traders with flexibility and accessibility to trade from various devices.
Advantages | Disadvantages |
Allows for higher potential profits with smaller initial investment | Higher leverage increases risk of large losses |
Greater flexibility in trading strategies and positions | Can lead to overtrading and poor risk management |
Enables traders to access larger markets with limited capital | Inexperienced traders may be tempted to use high leverage without understanding the risks |
Can increase trading volume and potential returns | Market volatility can quickly wipe out an account with high leverage |
FX Choice offers maximum leverage of up to 1:1000 for Optimum account and 1:200 for Classic and Pro account, which allows traders to open larger positions with a smaller amount of capital. This can be advantageous for traders who have a good understanding of risk management and use leverage wisely to maximize their trading opportunities. However, high leverage can also lead to large losses if traders do not use it responsibly. It is important for traders to understand the risks involved and have a solid trading plan in place when using high leverage. Additionally, traders should always consider the market conditions and volatility before using high leverage in their trades.
Advantages | Disadvantages |
Multiple deposit and withdrawal options | Some deposit/withdrawal methods may not be available in certain countries |
15% deposit bonus available | Withdrawal fees may apply |
Cryptocurrency deposits and withdrawals available | Bonus terms and conditions may apply |
Fast processing time for most payment methods |
FX Choice offers clients a wide range of deposit and withdrawal options, including cryptocurrencies, Visa, Mastercard, Skrill, Neteller, and many more. The 15% deposit bonus is also an attractive feature for new clients. However, some payment methods may not be available in certain countries and withdrawal fees may apply. It's also important to note that bonus terms and conditions may apply. In general, FX Choice aims to process payments quickly, which is a positive aspect for clients looking for a fast and efficient payment system.
Advantages | Disadvantages |
A wide range of educational resources including market signals, autotrade, copy trading, VPS, news, trading signals, and EA | Limited educational materials for beginners |
Access to professional trading tools | Some resources may require additional fees or commissions |
Customizable tools to meet individual needs and preferences | |
Opportunity to learn from experienced traders |
FX Choice offers a variety of educational resources that cater to the needs of traders at different levels of experience. The platform provides a range of professional trading tools that traders can use to improve their skills and knowledge. The educational resources available include market signals, autotrade, copy trading, VPS, news, trading signals, and EA. These resources are customizable, allowing traders to tailor them to their individual needs and preferences. Additionally, traders can learn from experienced traders by using the platform's copy trading features. While FX Choice offers a wide range of educational resources, there may be limited materials for beginners, and some resources may require additional fees or commissions. Overall, the platform offers a strong set of educational resources for traders looking to improve their trading skills and knowledge.
Advantages | Disadvantages |
24/5 customer service available | No 24/7 customer service available |
Support in multiple languages | No local phone numbers for some countries |
Various contact methods available | No physical office for some regions |
Quick response time through live chat and phone | Limited information on the website about customer service protocols |
Call back service available |
FX Choice offers 24/5 customer service to its clients, providing support in multiple languages through various channels such as email, phone, live chat and call back service. The quick response time through live chat and phone is an advantage, ensuring that clients can get their issues resolved promptly. However, the lack of 24/7 customer service and local phone numbers for some countries could be a disadvantage for clients in those regions. While FX Choice has a physical office, it may not be accessible to some clients. The website could also provide more information about the customer service protocols in place to manage clients' issues. Overall, FX Choice's customer care dimension provides a good level of support to its clients.
FX Choice is a well-established online trading platform that provides a wide range of trading instruments, including forex, CFDs, and cryptocurrencies. The platform offers multiple account types, educational resources, and 24/5 customer support in various languages. It also provides various deposit and withdrawal options, making it easy for traders to manage their funds. One of the most significant advantages of FX Choice is the availability of the MetaTrader platform, which is a popular and user-friendly platform used by many traders worldwide. While there are some disadvantages, such as the limited availability of some services, FX Choice remains a reputable and reliable platform for both beginner and experienced traders looking to trade various financial instruments. Overall, with its comprehensive trading features, customer support, and user-friendly platform, FX Choice is an attractive choice for traders looking for a reliable online trading platform.
Question: What is FX Choice?
Answer: FX Choice is an online forex and CFD broker that offers trading services to retail and institutional clients.
Question: What types of accounts does FX Choice offer?
Answer: FX Choice offers three types of accounts: Classic, Optimum, and Pro.
Question: What is the minimum deposit to open an account with FX Choice?
Answer: The minimum deposit to open a Classic account is USD 100, while the minimum deposit for an Optimum account is USD 10, and for a Pro account, it is USD 100.
Question: What is the maximum leverage offered by FX Choice?
Answer: FX Choice offers leverage up to 1:1000 for Optimum account and 1:200 for Classic and Pro accounts.
Question: What trading platforms are available at FX Choice?
Answer: FX Choice offers the popular trading platforms MT4, MT5, and WebTrader.
Question: What are the deposit and withdrawal methods available at FX Choice?
Answer: FX Choice offers various deposit and withdrawal methods, including credit cards, e-wallets, bank transfers, and cryptocurrencies.
Question: Does FX Choice offer educational resources for traders?
Answer: Yes, FX Choice provides educational resources such as market signals, autotrade, copy trading, VPS, news, trading signals, and EA.
Company Name | ZFX |
Registered Country/Region | London, UK |
Founded in | 2010 |
Regulation | FCA, FSA (Offshore) |
Tradable Assets | Forex, stocks, indices, commodities, cryptocurrencies |
Demo Account | Available |
Max. Leverage | 1:2000 |
Spread | From 1.3 pips (Standard account) |
Trading Platforms | ZFX mobile app, MT4 Web Trader, MT4 for Windows, Mac and Android & ios |
Minimum Deposit | $50 |
Customer Support | Mon - Fri: 24 hours, Sat - Sun: 07:30 AM to the next day 02:00 A |
Online chat, contact form | |
Phone: 400-8424-611 | |
Email: cs@zfx.com | |
Social media: Facebook, Instagram, LinkedIn, Twitter | |
Regional Restrictions | Residents of the United States of America, Brazil, Canada, Egypt, Iran, North Korea (Democratic People's Republic of Korea), and EU countries are not allowed. |
Zeal Group of Companies, often referred to collectively as the Zeal Group, is a conglomerate of fintech corporations and regulated financial institutions that trade under the name ZFX. The group specializes in providing liquidity solutions for various types of assets in regulated markets and is backed by exclusive technology. Furthermore, the Zeal Group operates globally, combining with their multi-asset specializations and regulatory frameworks, solidifies their position as a competitive player in the financial industry.
ZFX is a broker that offers several advantages and disadvantages to traders.
Pros | Cons |
• Regulated by the FCA | • No MT5 platform available |
• Multiple account types available | • No Islamic account option for Muslim traders |
• Demo accounts available | • Lack of info on deposits and withdrawals |
• Low minimum deposit requirement for the Mini Trading Account | • Regional restrictions |
• Wide range of funding options | |
• MT4 and proprietary trading platform supported | |
• Copy trading available | |
• Multi-channel support |
On the positive side, ZFX is a regulated broker, providing traders with demo accounts option, which is beneficial for beginner traders who want to practice their trading strategies before trading with real money. In addition, ZFX offers competitive trading conditions and low minimum deposit requirement through the popular MetaTrader4 trading platform.
On the negative side, no MT5 platform and no Islamic account option for Muslim traders. And ZFX doesn't reveal any info on deposits and withdrawals. Additionally, the broker does not provide services for residents of certain countries such as the United States of America, Brazil, Canada, Egypt, Iran, North Korea (Democratic People's Republic of Korea), and EU countries.
ZFX is a regulated broker. Its company name is Zeal Capital Market (UK) Limited, and it is authorized and regulated by the Financial Conduct Authority (FCA) in the United Kingdom under the registration No. 768451. The FCA is one of the most reputable regulatory bodies in the world, and its strict regulations ensure that ZFX adheres to high standards of transparency and fairness.
ZFX's other entity, Zeal Capital Market (Seychelles) Limited, is authorized and offshore regulated by the Seychelles Financial Services Authority (FSA) under regulatory license number: SD027.
Additionally, ZFX ensures the safety of its clients' funds by keeping them fully segregated in a designated client bank account. This means that the clients' funds are kept separate from ZFX's operating funds. In the event that the company faces financial difficulties or becomes insolvent, the funds in these client accounts cannot be used to meet the liabilities of the company. This measure provides an added layer of security for ZFX clients, ensuring their capital cannot be used for any other purposes aside from their trading activities.
ZFX provides a comprehensive range of market instruments, catering to diverse trading preferences and strategies. This includes major asset classes such as forex, where traders can engage in currency trading across major, minor, and exotic pairs. For those interested in the stock market, ZFX offers the ability to trade stocks from leading global companies, allowing traders to tap into corporate performance and stock market trends.
Additionally, ZFX includes indices trading, which aggregates the performance of a number of stocks representing a segment of the stock market, providing a broader market exposure. Commodities are also available, offering opportunities to trade in essential goods such as oil and gold, which are often used as hedge investments against inflation or currency devaluation.
Furthermore, ZFX has embraced the growing interest in digital currencies by including cryptocurrencies in their offerings, thus allowing traders to speculate on the highly volatile crypto markets. Overall, ZFX's diverse selection of trading instruments ensures that traders have ample opportunities to diversify their portfolios and explore various market dynamics.
Apart from demo accounts, ZFX offers three types of trading accounts, namely Mini Trading, Standard Trading, and ECN Trading accounts. Each account has its own unique features and advantages, catering to different levels of traders with varying trading styles and preferences.
Account Type | Minimum Deposit |
Mini | $50 |
Standard STP | $200 |
ECN | $1000 |
Pros | Cons |
• Variety of account types to choose from | • Limited features in the Mini account |
• Low minimum deposit requirement for the Mini account | • High minimum deposit requirement for the ECN account |
• Access to high leverage for all account types | • No Islamic account option available |
Opening an account with ZFX is a simple and straightforward process that can be completed in just a few steps.
The maximum leverage offered by ZFX is up to 1:2000 and the leverage amount may vary depending on the account type and trading instrument. Additionally, ZFX operates on a tiered margin system, where the leverage is determined based on account equity. For accounts with equity between $0 and $3,000, the maximum leverage is 1:2000. For equity between $3,001 and $10,000, the maximum leverage is 1:1000. More detailed info on leverage can be found in the screenshot below:
Please note that high leverage carries a high level of risk, as it amplifies both potential profits and losses. Traders should carefully consider their risk tolerance and financial situation before utilizing high leverage ratios. ZFX also provides negative balance protection to help mitigate the risk of account balances falling below zero.
ZFX says it offers competitive spreads and commissions on its trading instruments.
Account Type | Spreads | Commissions |
Mini Trading | From 1.5 pips | N/A |
Standard Trading | From 1.3 pips | |
ECN Trading | From 0.2 pips |
For the Mini Trading account, the minimum spread for forex pairs is 1.5 pips. The Standard Trading account has a minimum spread of 1.3 pips for forex pairs. The ECN Trading account has a minimum spread of 0.2 pips for forex pairs. However, no specific info on commissions is revealed openly.
ZFX offers the popular trading platform MetaTrader 4 (MT4), which is widely recognized in the forex industry for its user-friendly interface and advanced trading tools. MT4 provides access to various order types, technical analysis tools, and customization options, making it suitable for both novice and experienced traders. In addition, ZFX offers mobile versions of the MT4 platform for both iOS and Android devices, enabling traders to access the markets from anywhere, at any time.
ZFX also provides a mobile application for its clients, ensuring they can trade on the go. This ZFX Mobile App offers access to all the major features of the trading platform and enables clients to manage their portfolio, place trades, and monitor the markets from their mobile device.
The mobile app can be a valuable tool for traders who need the flexibility to trade anywhere and anytime, while still having access to key functionalities of the platform. Before using the app, make sure it is downloaded from an official source like the App Store or Google Play to ensure security and authenticity.
ZFX offers a Copy Trade feature, which is great news for both beginner and busy traders. Copy trading, also known as social trading, allows traders to automatically copy the trades of experienced and successful traders. This can help beginners to learn trading strategies from experienced traders, and help busy traders to automate their trading. By using the Copy Trade feature, you can potentially increase your chances of making profitable trades.
ZFX is committed to providing an extensive educational framework to support both novice and experienced traders through their A-to-Z Academy, which offers comprehensive learning resources designed to master trading from the basics to advanced strategies. This initiative underscores ZFX's dedication to empowering its clients with the knowledge needed to navigate the financial markets confidently.
Additionally, ZFX enhances trader support with a 24/7 Help Center, serving as a constant trading support hub where traders can obtain assistance at any time.
The platform also features a detailed Glossary, which acts as a valuable dictionary for demystifying complex trading terminology, making the trading language more accessible to everyone.
Moreover, their FAQ section addresses common queries related to trading mechanics, account management, funding procedures, withdrawals, and specific product details.
Collectively, these educational resources equip ZFX traders with a solid foundation of knowledge and continuous support, facilitating a well-rounded and informed trading experience.
ZFX provides robust customer support with extensive availability and multiple communication channels to ensure that traders can receive assistance whenever needed. Operating hours extend throughout the week, with round-the-clock support from Monday to Friday and extended hours over the weekend from 07:30 AM to 02:00 AM the next day, accommodating traders across different time zones.
Traders can reach out via online chat for immediate responses, use the contact form for less urgent inquiries, or call directly through the phone number 400-8424-611 for personalized assistance. Additionally, ZFX can be contacted through email at cs@zfx.com for comprehensive support.
The broker also maintains a strong presence on several social media platforms including Facebook, Instagram, LinkedIn, and Twitter, allowing traders to stay connected and informed about the latest updates and offerings. This multi-faceted approach ensures that ZFX's clients receive timely and effective support, enhancing their trading experience.
Overall, ZFX is a reputable option for traders looking to access the financial markets. The broker's maximum trading leverage of 1:2000, based on account equity, is one of the highest in the industry and can provide traders with significant opportunities for profit. Additionally, competitive spreads and a choice of popular MT4 trading platforms further strengthen ZFX's position as a reliable broker.
Question 1: | Is ZFX regulated? |
Answer 1: | Yes. It is regulated by FCA and FSA (Offshore). |
Question2: | At ZFX, are there any regional restrictions for traders? |
Answer 2: | Yes. It does not provide services for residents of certain countries such as the United States of America, Canada, Egypt, Iran and North Korea (Democratic People's Republic of Korea). |
Question3: | Does ZFX demo accounts? |
Answer 3: | Yes. |
Question4: | Does ZFX offer industry leading MT4 & MT5? |
Answer 4: | Yes. It supports MT4 and ZFX Mobile App. |
Question5: | What is the minimum deposit for ZFX? |
Answer 5: | $50 for the Mini Trading account, while higher for other account types. |
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.
To compare transaction costs across different brokers, our experts analyze the transaction-specific fees (such as spreads) and non-trading fees (such as inactivity fees and payment costs).
To get a comprehensive understanding of how cheap or expensive fx-choice and zfx are, we first considered common fees for standard accounts. On fx-choice, the average spread for the EUR/USD currency pair is from 0 pips, while on zfx the spread is From 0.2.
To determine the safety of our top brokers, our experts will consider many factors. This includes which licenses the broker holds and the credibility of these licenses. We also consider the history of brokers, because long-term brokers are usually more reliable and trustworthy than new brokers.
fx-choice is regulated by FSC. zfx is regulated by FCA,FSA.
When our experts review brokers, they will open their own accounts and trade through the broker's trading platform. This enables them to comprehensively evaluate the quality, ease of use, and function of the platform.
fx-choice provides trading platform including Pro,Classic,Optimum and trading variety including 36 currency pairs; Indices, Metals, Commodities, Energies, Cryptocurrencies. zfx provides trading platform including ECN,Standard STP,Mini and trading variety including --.