WikiFX Review: ZFX, a broker you should not miss

In this article

WikiFX provides inquiry services in the forex field.

WikiFX evaluates the reliability of ZFX based on the facts.

What is WikiFX？

To explore whether ZFX is a scammer or not, we evaluated this broker from different aspects, such as regulatory status, exposure, etc.

Table of Contents

1. Evaluate the reliability based on its general information and regulatory status.

A. General Information of ZFX

B. Regulatory Status

2. The feedback from Twitter

3. Exposure related to ZFX on WikiFX

4. Special survey about ZFX from WikiFX

A. Scoring Criteria

B. Field Investigation

5. Conclusion

1. Evaluate the reliability of ZFX based on its general information and regulatory status

To understand ZFX better, we explore ZFX by analyzing three main perspectives:

A. General Info of ZFX

B. Regulatory Status

A. General Info of ZFX

ZFXs general info has been shown below:

(source: WikiFX)

About ZFX

ZFX, also called Zeal Capital Markets Limited, is an online forex broker founded in 2010. ZFX is headquartered in London, UK, and has several branches worldwide. It focuses on providing multi-asset trading services to institutional and retail investors in Forex, commodities, and other asset classes.

ZFX Leverage

Forex investors can trade Forex, and precious metals products on ZFX Micro accounts with a leverage ratio of up to 1:2000. For risk management purposes, the ZFX system will adjust the leverage ratio based on the net value of the trading account, with the main levers at 1:2000, 1:1000, 1:600, 1:400, 1:100.

Trading Platforms

ZFX MT4 supports various order types, charting, one-click trading, advanced analytical tools and indicators, comprehensive reporting, and instant news feeds. ZFX MT4 can also be seamlessly integrated with a trader's existing trading device through a further developed API program that supports smart trading and strategy backtesting. Forex traders can use the trading platform on Apple, Android, Windows, and Mac.

Deposit & Withdrawal

ZFX supports FlashE International UnionPay or XPay Internet Banking, with a minimum deposit of $100. Forex traders can withdraw funds without any fees and same-day withdrawal restrictions, with a minimum withdrawal amount of 100 RMB (approximately $15).

Customer Support

Clients are provided with a multilingual customer support team who are available 24/5 and can be reached via telephone, email, social media, online support form, or by visiting their physical offices.

(source: WikiFX)

Restricted Area

As you can see below, this broker does not accept or offer any products to Hong Kong residents or the public.

(source: ZFX)

B. Regulatory Status

What is a Legitimate License？

• The legitimate license is the business license issued by the financial regulatory institution of each country/region.

• Holding a license means that the broker is recognized and regulated by the regulatory authority, therefore your money is under the protection to some extent.

• Whether a forex brokerage firm holds a legitimate license or not is one of the important factors to evaluate the reliability of forex brokers.

• The content of the regulation and the difficulty of obtaining a license vary with the country and agency issuing the license.

The legitimate license of ZFX

ZFX is a regulated broker. It currently holds a straight-through license from the UK Financial Conduct Authority (FCA) with License No. 768451 and a retail forex license from the Seychelles Financial Services Authority (FSA), with License No. SD027.

(source: WikiFX）

2. The feedback from Twitter

To figure out whether ZFX is a scam or not, we did a survey about this broker on Twitter.

Reviews on Twitter:

• ZFX does have an official account on Twitter. But now it has only a few followers.

• It is hard to find negative feedback related to this broker on Twitter.

3. Exposure related to ZFX on WikiFX

• On WikiFX, the Exposure consists of feedback from traders. A bad track record of brokers can be checked via Exposure. WikiFXs Exposure function helps you get feedback from other traders and remind you of the risks before it starts.

• As of July 21, 2022, WikiFX didn't receive any complaints related to ZFX yet.

• ZFX has relatively independent and targeted Twitter accounts in different countries or regions，such as ZFX Thailand, ZFX Turkey, ZFX Indonesia, ect.

4. Special survey about ZFX from WikiFX

A. Scoring Criteria

WikiFX gives brokers a score from 0 to 10. The higher the score is, the more reliable the broker is.

ZFX has been given by WikiFX a decent rating of 7.65/10.

(source: WikiFX)

B. Field Investigation

• To help you fully understand the broker, WikiFX also investigates the brokers by sending surveyors to the brokers physical addresses.

• On WikiFX, you can visually check the physical addresses of brokers by pressing the “Survey” button.

• WikiFX did make an on-site survey on ZFX in May 2022 and successfully found their office.

(source: WikiFX)

5. Conclusion:

It is no doubt that ZFX is a regulated broker. If you are seeking a broker now, you may consider this broker since it has experience of more than 10 years, although some other brokers in the forex market are also as good as ZFX. Or you can download the WikiFX APP to find the most trusted broker for yourself. If you want to know more information about the reliability of certain brokers, you can open our website (https://www.WikiFX.com/en).

Click on ZFX's WikiFX page for details