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Do you want to know which is the better broker between ZFX and xChief ?
In the table below, you can compare the features of ZFX , xChief side by side to determine the best fit for your needs.
EURUSD:-0.2
EURUSD:-0.9
EURUSD:17.07
XAUUSD:34.57
EURUSD: -6.02 ~ 2.52
XAUUSD: -23.85 ~ 12.4
EURUSD:0.9
EURUSD:2.5
EURUSD:21.75
XAUUSD:35
EURUSD: -8.9 ~ 1.1
XAUUSD: -29.8 ~ 9.2
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 zfx, forexchief 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:
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.
xChief Review Summary in 10 Points | |
Founded | 2014 |
Registered Country/Region | Comoros |
Regulation | MISA |
Market Instruments | Forex, Metals, Commodities, Indexes, Stocks, Crypto |
Demo Account | Available |
Leverage | 1:1000 |
EUR/USD Spread | From 0 pips |
Trading Platforms | MT4, MT5, xChief App |
Minimum deposit | $10 |
Customer Support | Live chat, phone, email |
xChief (formerly ForexChief) is an online Forex and CFD trading broker that offers multiple assets for trading online via the MetaTrader4/5 platforms. Founded in 2014, its head office is in Vanuatu while other representative offices are in Singapore and Nigeria. xChief Ltd is incorporated in the Republic of Comoros .
xChief Ltd is a retail forex broker regulated by the Mwali International Services Authority (MISA) in Comoros with the license number T2023379.
xChief has several notable pros and cons. The broker offers a wide range of trading instruments, multiple account types, and user-friendly MetaTrader platforms. They also prioritize the safety of client funds with segregation and negative balance protection. Additionally, their transparent and competitive spreads, along with various deposit and withdrawal options, add to their appeal.
Pros | Cons |
• Regulated by MISA | • Reports of withdrawal issues and slippage |
• Wide range of trading instruments | |
• Multiple account types | |
• Demo accounts and Islamic accounts available | |
• Transparent and competitive spreads | |
• MT4/5 supported | |
• Copy trading available | |
• Multiple deposit and withdrawal options |
There are many alternative broker s to xChief depending on the specific needs and preferences of the trader. Some popular options include:
xChief provides a diverse range of over 150 trading instruments, enabling traders to access various financial markets. The broker offers a wide selection of Forex currency pairs, allowing traders to engage in currency trading across major, minor, and exotic pairs. Additionally, xChief offers trading opportunities in precious metals like gold and silver, which are popular for their perceived value and safe-haven status. Traders can also explore the commodities market, including energies like crude oil and natural gas, as well as agricultural products like wheat and corn.
Furthermore, xChief provides access to a range of global stock indices, enabling traders to speculate on the performance of leading stock markets worldwide. Lastly, the broker offers exposure to the rapidly growing cryptocurrency market, allowing traders to trade popular digital currencies such as Bitcoin, Ethereum, and Litecoin. With this extensive selection of trading instruments, xChief aims to cater to the diverse needs and preferences of traders.
xChief offers a variety of trading accounts to suit the needs of different traders. The MT4/5.DirectFX and MT4/5.Classic+ accounts are designed for standard trading, providing access to a wide range of trading instruments. These accounts have a minimum deposit requirement of $10, making them accessible to traders with different budget sizes.
For those interested in PAMM (Percentage Allocation Management Module) trading, xChief offers pamm-MT4/5.DirectFX and pamm-MT4/5.Classic+ accounts, which allow investors to allocate their funds to experienced traders for potential profits.
Additionally, xChief provides cent-MT4/5.DirectFX and cent-MT4/5.Classic+ accounts for traders who prefer to trade with smaller volumes, as these accounts are denominated in cents instead of dollars.
Account Type | MT4/5.DirectFX | MT4/5.Classic+ | pamm-MT4/5.DirectFX | pamm-MT4/5.Classic+ | cent-MT4/5.DirectFX | cent-MT4/5.Classic+ |
Minimum Deposit | $10 (or equivalent) | |||||
Account Currency | USD/CHF/GBP/EUR/JPY | USD/EUR | USD/CHF/GBP/EUR/JPY | |||
Size of 1 lot (Forex) | 100 000 | |||||
Stop Out | 30% | |||||
Min Order Size (lots) | 0.01 (increment - 0.01) | |||||
Welcome bonus $500 | Available | No | ||||
Swap-free |
Demo accounts are available for traders to practice their strategies and familiarize themselves with the trading platform without risking real money. xChief also offers Islamic/Swap-free accounts for clients who follow Islamic principles and wish to trade without incurring interest charges. With this wide range of account types, xChief aims to cater to the diverse preferences and trading styles of its clients.
xChief offers leverage of up to 1:1000, which provides traders with the opportunity to amplify their trading positions and potentially increase their profit potential. With high leverage, traders can control larger positions with a smaller amount of capital, allowing for greater flexibility and potential returns. However, it's important to note that while leverage can enhance profits, it also magnifies losses, so proper risk management is crucial when trading with high leverage.
xChief offers competitive spreads and commissions to its traders. The spread for DirectFX accounts is floating from 0 pips, which means traders can benefit from tight spreads on their trades. For Classic+ accounts, the spread is floating from 0.3 pips, still providing traders with favorable trading conditions. It's important to note that spreads may vary depending on market conditions and the specific trading instrument.
As for commissions, xChief provides detailed information on its website. Commissions are charged based on the account type and vary accordingly. More deails can be founded in the table below.
Account Type | MT4/5.DirectFX | MT4/5.Classic+ | pamm-MT4/5.DirectFX | pamm-MT4/5.Classic+ | cent-MT4/5.DirectFX | cent-MT4/5.Classic+ |
Spread | Floating from 0 pips | Floating from 0.3 pips | Floating from 0 pips | Floating from 0.3 pips | Floating from 0 pips | Floating from 0.3 pips |
Commission | Forex, Metals, Commodities, Indexes - $15 per MioStocks, Crypto - 0.1% | Forex, Metals, Commodities, Indexes - freeStocks, Crypto - 0.1% | Forex, Metals, Commodities, Indexes - $15 per MioStocks, Crypto - 0.1% | Forex, Metals, Commodities, Indexes - freeStocks, Crypto - 0.1% | Forex, Metals - $15 per Mio | Forex, Metals - free |
By offering competitive spreads and transparent commission structures, xChief aims to provide its clients with cost-effective trading solutions and enhance their overall trading experience.
Below is a comparison table about spreads and commissions charged by different brokers:
Broker | EUR/USD Spread | Commissions |
xChief | 0.0 pips | Variable |
TigerWit | 1.0 pips | No |
Trading | 0.6 pips | Variable |
TrioMarkets | 0.3 pips | Variable |
xChief offers a wide range of trading platforms to cater to the diverse needs of its clients. One of the primary platforms provided is MetaTrader 5 (MT5), a powerful and advanced trading platform known for its comprehensive features and flexibility. Traders can access MT5 through various versions, including MT5 for Android, MT5 for iPhone and iPad, and MT5 WebTerminal, allowing them to trade on the go from their mobile devices or through a web browser.
Additionally, xChief also offers MetaTrader 4 (MT4), a popular and widely used platform known for its user-friendly interface and extensive charting capabilities. Traders can access MT4 through MT4 for Android, MT4 for iPhone and iPad, and take advantage of its features to execute trades efficiently. Moreover, xChief provides its own xChief App, offering a convenient and intuitive trading experience for clients.
With these robust and versatile trading platforms, xChief aims to empower traders with the necessary tools and technologies to make informed trading decisions and execute trades effectively.
See the trading platform comparison table below:
Broker | Trading Platforms |
xChief | MetaTrader 4 (MT4) |
TigerWit | TigerWit WebTrader |
Trading.com | MetaTrader 4 (MT4) |
TrioMarkets | MetaTrader 4 (MT4), MetaTrader 5 (MT5), TrioMarkets WebTrader |
xChief offers a copy trading feature, which allows traders to automatically replicate the trades of experienced and successful traders in real-time. With copy trading, traders can benefit from the expertise of seasoned professionals without the need for extensive market knowledge or analysis. xChief's copy trading platform enables users to browse through a selection of skilled traders, evaluate their performance metrics, and choose to copy their trades with a simple click.
This feature is particularly beneficial for novice traders who can learn from experienced traders and potentially achieve similar trading results. It also saves time and effort as traders can rely on the expertise of others while still having control over their trading activities. xChief's copy trading feature provides a convenient and efficient way for traders to access profitable trading strategies and potentially enhance their trading performance.
In terms of deposit and withdrawal, like many good brokers, xChief provides a detailed form with important information about payment options, transfer currencies, fees, and transfer time. The feasible payment methods are Bank Wire Transfer, Local Transfer Solutions, Credit/Debit cards, and Electronic Payments including Skrill, Neteller, Advanced Cash, Perfect Money, and FasaPay.
The minimum deposit requirement is set at a competitive $10, allowing traders with different budgets to access the platform. The acceptable currencies include USD, EUR, GBP, CHF, and JPY, providing flexibility for traders from different regions.
xChief | Most other | |
Minimum Deposit | $10 | $100 |
While Credit/Debit card deposits incur a 2% fee, Perfect Money deposits have a fee of 1.99%, and other deposit methods are fee-free. The processing times for deposits vary, with Bank Wire Transfer taking 1-2 business days, Local Transfer Solutions being processed within 24 hours, and Credit/Debit cards and Electronic Payments being instant.
Withdrawals from xChief generally take up to 1 business day, and withdrawal fees depend on the chosen method. Clients are encouraged to refer to the provided screenshot for specific information.
xChief is committed to providing excellent customer service to its clients. Traders have access to multiple channels to reach out for support, including live chat, phone, and email. The availability of live chat ensures quick and real-time assistance, while phone support offers the convenience of direct communication. Additionally, clients can utilize email support for more detailed inquiries or requests. The broker values transparency and provides its company address openly, which adds to the trustworthiness of their operations.
Traders can also find answers to common questions through the readily available FAQs section, which offers self-help resources. Furthermore, xChief maintains a strong presence on various social networks such as Telegram, Twitter, Facebook, and Instagram. By following the broker on these platforms, traders can stay updated with the latest news, market insights, promotions, and engage with the xChief community.
With their comprehensive customer service options and active social media presence, xChief aims to ensure that clients receive the necessary support and stay well-informed throughout their trading journey.
Pros | Cons |
• Live chat support | None |
• 24/7 support in 20 languages | |
• FAQ section available for self-help | |
• Social media presence |
Note: These pros and cons are subjective and may vary depending on the individual's experience with xChief's customer service.
On our website, you can see that some reports of unable to withdraw and severe slippage. Traders are encouraged to carefully review the available information and consider the risks associated with trading on an unregulated platform. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section, we would appreciate it and our team of experts will do everything possible to solve the problem for you.
In conclusion, xChief offers a diverse range of trading instruments, competitive spreads, and multiple account types to cater to different trading preferences. They prioritize the safety of client funds through segregation and negative balance protection. The availability of popular MetaTrader platforms enhances the trading experience.
Q 1: | Is xChief regulated? |
A 1: | Yes. It is regulated by the MISA. |
Q 2: | Does xChief offer demo accounts? |
A 2: | Yes. |
Q 3: | Does xChief offer the industry leading MT4 & MT5? |
A 3: | Yes. It supports T4, MT5, and xChief App. |
Q 4: | What is the minimum deposit for xChief? |
A 4: | The minimum initial deposit to open an account is $10 or equivalent. |
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.
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 zfx and forexchief are, we first considered common fees for standard accounts. On zfx, the average spread for the EUR/USD currency pair is From 0.2 pips, while on forexchief the spread is From 0.
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.
zfx is regulated by FCA,FSA. forexchief is regulated by MISA.
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.
zfx provides trading platform including ECN,Standard STP,Mini and trading variety including --. forexchief provides trading platform including xPRIME,DirectFX,Classic+,CENT and trading variety including 150+ Forex, Metals, Commodities, Indexes, Stocks, Crypto.