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Do you want to know which is the better broker between LiteForex and ZFX ?
In the table below, you can compare the features of LiteForex , ZFX side by side to determine the best fit for your needs.
EURUSD:0.4
EURUSD:2.6
EURUSD:10.48
XAUUSD:24.84
EURUSD: -6.71 ~ 2.98
XAUUSD: -44.72 ~ 9.53
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 liteforex, 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:
Note: 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.
Registered in | Cyprus |
Regulated by | CYSEC |
Years of Establishment | 10-15 years |
Trading Instruments | Currency pairs, indices, metals, energy |
Demo Account | Available |
Minimum Initial Deposit | $10 |
Maximum Leverage | 1:30 |
EUR/USD Spread | 0.5 pips onwards |
Trading Platforms | MT4, MT5 |
Deposit & Withdrawal Method | Bank wire transfer, credit card, skrill, neteller, etc. |
Customer Service | Email/phone number/address/live chat |
Fraud Complaints Exposure | Yes |
LiteForex is a Cyprus-registered company that provides online trading services for forex, commodities, indices, and metals markets. It is regulated by the Cyprus Securities and Exchange Commission (CYSEC) and offers two types of live accounts: ECN and Classic. LiteForex also provides a demo account, educational resources, and customer support in multiple languages. The company allows clients to deposit and withdraw funds via electronic transfers, bank cards, and bank wire transfers with a minimum amount of 10 USD and no extra fees.
In the following article, we will analyse the characteristics of this broker in all its dimensions, providing you with easy and well-organised information. If you are interested, read on.
LiteForex is an STP (Straight Through Processing) broker that enables its clients to have direct access to interbank markets. This type of broker passes on their client's orders directly to liquidity providers, which are typically banks, without the need for a dealing desk. As a result, STP brokers are typically known for their transparency and faster order execution. LiteForex's STP model allows clients to experience pricing that reflects current market conditions, which can result in lower trading costs. However, since LiteForex does not have fixed spreads, clients may experience wider spreads during volatile markets. Additionally, requotes may occur due to the time it takes to process orders.
LiteForex offers its clients a wide range of trading markets that includes currency pairs, indices, metals, and energy. This variety of instruments allows traders to find what they want to trade on the platform, whether they are beginners or experienced traders. However, LiteForex does not offer cryptocurrencies and stocks currently.
LiteForex offers a demo account for beginners to practice trading without risking real money. For live accounts, the company provides two options: ECN and classic. The classic account has higher spreads but no commission, while the ECN account has lower spreads but a $3 commission per lot. This allows traders to choose the type of account that best fits their trading style and preferences.
LiteForex offers a maximum leverage of 1:30, which is a commonly seen level in the forex industry. Leverage is an important aspect of forex trading as it allows traders to open positions larger than the amount of money they have deposited, which can lead to higher profits with successful trades. However, it also increases risk and potential losses, especially for inexperienced traders who may be tempted to over-leverage their positions. While higher leverage can be attractive to traders with smaller capital amounts, changes in market conditions can lead to sudden losses. It is important to note that regulators may restrict leverage levels in certain regions.
Advantages | Disadvantages |
Tight and variable spreads | Lack of transparency on spread and commission information |
Competitive average spread for major currency pairs | No information on commission charges |
No hidden fees or charges |
LiteForex's information on spreads and commissions is quite limited, which may make it difficult for traders to accurately assess the cost of trading with the broker. However, LiteForex does declare to have tight and variable spreads, with an average spread of 0.5 pips for EURUSD, which is a competitive level compared to other brokers in the market. The broker also does not have any hidden fees or charges, which can be seen as an advantage for traders. However, the lack of transparency on commission charges may be a disadvantage for traders who want to have a clear understanding of all the costs involved in trading with the broker.
LiteForex offers both MT4 and MT5 trading platforms, which are widely recognized and trusted by traders in the industry. These platforms provide a user-friendly interface and a wide range of features and tools, making it easy for traders to analyze and execute trades.
Advantages | Disadvantages |
Various payment methods available | No mention of e-wallet options |
Minimum deposit is only $10 | Limited information on withdrawal processing times |
No additional fees for deposits or withdrawals | No option for local bank transfer in some countries |
LiteForex's deposit and withdrawal process offers several advantages to traders. Firstly, the broker supports multiple payment methods, including electronic transfers, bank cards, and bank wire transfers. Secondly, the minimum deposit requirement is only $10, making it easy for beginners to get started. Lastly, there are no extra fees charged for deposits or withdrawals, which is a bonus for traders on a tight budget. However, LiteForex does not offer e-wallet options, which is a popular payment method among traders, and the information on withdrawal processing times is limited. Additionally, local bank transfer is not available in some countries.
LiteForex offers a comprehensive range of educational resources for traders of all levels. With glossaries, e-books, tutorials, strategies, economic calendars, analytics, traders calculators, currency rates, economic news, and more, LiteForex provides a wide range of resources to help traders make informed decisions.
Advantages | Disadvantages |
Multiple language support | Limited working hours |
Multiple contact options (email and phone) | No live chat available |
Physical address provided | No 24/7 customer support |
Quick response time during working hours |
LiteForex offers a variety of customer service options to its clients, including support in multiple languages and two contact options: email and phone. However, there is no live chat available, and customer support is only available during limited working hours from 9 a.m. to 9 p.m. (GMT+2) on weekdays. Another downside is the lack of 24/7 customer support. Despite these limitations, the broker provides a physical address, which can add to clients' peace of mind. Moreover, during the working hours, the response time is quick, and clients can expect to receive a helpful response in a timely manner.
In conclusion, LiteForex is a well-established and reputable online forex and CFD broker, offering a wide range of trading instruments, educational resources, and customer support in multiple languages. With its user-friendly trading platforms, tight spreads, and low minimum deposit, it is an attractive option for both beginner and experienced traders. While its maximum leverage is relatively low compared to some other brokers, this can be seen as a positive aspect for traders who prioritize risk management. Overall, LiteForex seems to be a reliable and trustworthy choice for anyone looking to trade the financial markets. However, it is important to always do your own research and carefully consider the risks involved before making any investment decisions.
Is LiteForex a regulated forex broker?
Yes, LiteForex is a regulated forex broker registered with the Cyprus Securities and Exchange Commission (CYSEC).
What trading platforms does LiteForex offer?
MT4 and MT5.
What financial instruments can I trade on LiteForex?
LiteForex provides currency pairs, indices, metals, and energy.
Does LiteForex offer a demo account?
Yes. Demo accounts are on offer on this platform.
Is LiteForex a good broker for beginners?
Yes, liteforex is a good choice for newbies because it operates legally, allows $10 to start trading, and offers risk-free demo accounts.
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 contained in this article is for general information purposes only.
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 liteforex and zfx are, we first considered common fees for standard accounts. On liteforex, the average spread for the EUR/USD currency pair is from 2.0 points 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.
liteforex is regulated by CYSEC. 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.
liteforex provides trading platform including CLASSIC,ECN and trading variety including --. zfx provides trading platform including ECN,Standard STP,Mini and trading variety including --.