Z Forex
Abstract： Registered in 2006, Z Forex is an unregulated online broker based in Bulgaria, offering trading in market instruments such as forex, metals, indices, commodities, and stocks. With a minimum deposit of $10, Z Forex offers one demo account and three types of live accounts. The leverage is up to 1:1000 on this platform. Z Forex does not accept clients from the Democratic People's Republic of Korea, Iran, Myanmar, the United States of America, or Turkey.
| Z Forex Review Summary | |
| Founded | 2006 |
| Registered Country/Region | Bulgaria |
| Regulation | Unregulated |
| Market Instruments | Forex, Stocks, Indiices, Commodities, Metals, |
| Demo Account | ✅ |
| Islamic Account | ✅ |
| Leverage | Up to 1:1000 |
| Spread | From 0 pips |
| Trading Platform | cTrader, MT5 |
| Minimum Deposit | $10 |
| Customer Support | Live Chat, Contact Form |
| Phone: +44 744 147 7121, | |
| Email: info@zforex.com | |
| Company Address: Sofia, Olimpiyska str., SiteGround, Sofia Park, fl. 4, No: 2, post code: 1756, Bulgaria | |
| Social Media: Telegram, Twitter, YouTube, WhatsApp, Instagram | |
| Regional Restriction | Democratic People's Republic of Korea, Iran, Myanmar, United States of America, Turkey |
Z Forex Information
Registered in 2006, Z Forex is an unregulated online broker based in Bulgaria, offering trading in market instruments such as forex, metals, indices, commodities, and stocks. With a minimum deposit of $10, Z Forex offers one demo account and three types of live accounts. The leverage is up to 1:1000 on this platform. Z Forex does not accept clients from the Democratic People's Republic of Korea, Iran, Myanmar, the United States of America, or Turkey.
Pros and Cons
| Pros | Cons |
| Three account types | Commission charged |
| MT5 supported | No regulation |
| Multiple contact channels | Regional Restrictions |
| Low minimum deposit requirement | |
| Demo accounts available | |
| Various payment methods |
Is Z Forex Legit?
Z Forex has not been regulated, which means activities on this platform are operated without regulatory oversight.
What Can I Trade on Z Forex?
Traders on Z Forex get access to tradable instruments, including forex, stocks, indices, commodities, and metals.
| Trading Asset | Available |
| forex | ✔ |
| metals | ✔ |
| commodities | ✔ |
| indices | ✔ |
| stocks | ✔ |
| cryptocurrencies | ❌ |
| bonds | ❌ |
| options | ❌ |
| funds | ❌ |
| ETFs | ❌ |
Account Type
Z Forex offers a demo account for traders to test this platform without risking real money.
Apart from the demo account, ZForex offers three types of live accounts: Standard, ECN, and Swap Free (Islamic).
| Trading Platform | Standard | ECN | Swap Free |
| Minimum Deposit | $10 | $10 | $2,500 |
| Maximum Leverage | 1:1000 | 1:500 | |
| Commission | $0 | $7 Forex, $15 Metals | $10 Forex, $15 Metals |
| Spread | 1.2 pips | from 0 pips | 0.7 pips |
| Minimum Trade | 0.01 lot | ||
| Margin Call | 100% | ||
| Stop Out | 30% | ||
Leverage
This platform offers leverage up to 1:1000. However, higher leverage significantly increases risk exposure. Traders should exercise caution.
ZForex also offers dynamic leverage, which is a feature that automatically adjusts traders' maximum leverage based on their account equity. zForex claims to employ transparent equity tiers to set your maximum leverage. The table below outlines how leverage adjusts automatically based on traders' account equity:
| Account Equity | Maximum Leverage |
| $0 – 999 | 1:1000 |
| $1,000 – 2,499 | 1:800 |
| $1,500 – 7,999 | 1:500 |
| $8,000 – 19,000 | 1:400 |
| $20,000 – 39,999 | 1:300 |
| $40,000 – 74 999 | 1:200 |
| $75,000 and above | 1:100 |
Z Forex Fees
Z Forex provides distinct spreads for each account: For the Standard account, the spread is 1.2 pips; for the ECN account, the spread can be as low as 0 pips; when it comes to the Swap Free account, it's 0.7 pips.
In terms of commission, Z Forex charges 0 commission for Standard accounts. However, when it comes to ECN account users, Z Forex does charge $7 for forex trading and $15 for metals trading. For Swap Free account users, the commission is $10 for forex trading, $15 for metal trading.
| Trading Platform | Standard | ECN | Swap Free |
| Maximum Leverage | 1:1000 | 1:500 | |
| Commission | $0 | $7 Forex, $15 Metals | $10 Forex, $15 Metals |
Trading Platform
Z Forex provides access to two popular trading platforms for traders to choose from: cTrader and MT5.
- cTrader: A popular multi-asset trading platform developed by Spotware, designed primarily for forex and CFD trading.
- MT5: The successor to MT4, developed by MetaQuotes, is a widely used platform for trading forex, stocks, commodities, indices, and cryptocurrencies.
| Trading Platform | Supported | Available Devices | Suitable for |
| cTrader | ✔ | Desktop, Mobile, Web | / |
| MT5 | ✔ | Desktop, Mobile, Web | Experienced traders |
| MT4 | ❌ | Desktop, Mobile, Web | Beginners |
Deposit and Withdrawal
Credit Card, Wire Transfer, e-Wallets, and Crypto are available payment types on Z Forex, each has distinct methods and conditions.
| Payment Types | Methods |
| Credit Card | Visa, MasterCard |
| Wire Transfer | Help2Pay, Payment Asia, Transact 365 |
| e-Wallets | SticPay, Jeton, Fasapay, MOMO, Promptpay, True Money, Duitnow |
| Crypto | Bitcoin, Ethereum, Litecoin, Tether (TRC20), Tether (ERC20), USD Coin |
Deposit Options
| Deposit Options | Minimum Deposit | Deposit Fees | Deposit Time |
| Credit Card | $10 | 0 | Instant |
| Wire Transfer | Same Day | ||
| e-Wallets | Within 1 working day | ||
| Cryptos |
Withdrawal Options:
| Withdrawal Options | Minimum Withdrawal | Withdrawal Fees | Withdrawal Time |
| Credit Card | $10 | 4.2+$1 | Instant |
| Wire Transfer | 1.5% | Same Day | |
| e-Wallets | 1.5% | Within 1 working day | |
| SticPay: 2.5+$0.3 | |||
| Jeton: $1+0.5 | |||
| Fasapay: 0.5% | |||
| Cryptos | Network Fee |
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