zForex Review

zForex is a brokerage that was founded in 2022 and is registered in Saint Vincent and the Grenadines. It is regulated by the Mwali International Services Authority (MISA) and have a physical address in Sofia, Bulagria. While their regulatory status does not carry the same weight as top-tier regulators, this less rigid regulatory environment does allow them to offer their services (including very high leverage) to those from countries that are typically restricted by other firms.

Yes! zForex DO accept clients from the U.S however they will need to deposit funds using one of the crypto deposit/withdrawal options (Bitcoin, Ethereum, Tether, and Litecoin).

Unlike many offshore brokers, zForex provides access to both the MetaTrader 5 (MT5) platform and cTrader. Both platforms are available on desktop and mobile (iOS and Android) and also offer advanced charting tools, fast order execution plus copy trading options in the form of cTrader Copy. We were pleased to see cTrader available, as it is still relatively uncommon among offshore brokers. Having both MT5 and cTrader gives zForex a notable advantage in terms of platform flexibility.

It is nice to see that zForex also offers 24/7 customer support which is available in six different languages. This round-the-clock service ensures that traders from various regions can access assistance whenever needed.

zForex clients have the choice of three main account types:

• Standard Account - minimum deposit of $10, spreads from 0.5 pips, zero commission, and leverage up to 1:1000.
• ECN Account - minimum deposit of $10, spreads from 0.0 pips, a commission of $10 per Forex lot, and leverage up to 1:1000.
• Swap Free Account - minimum deposit of $2,500, spreads from 0.7 pips, a commission of $10 per Forex lot, and leverage up to 1:1000.

Although they offer very high leverage it is worth noting that zForex uses a dynamic leverage model, where maximum leverage decreases as account equity increases. For example, accounts under $1,000 have access to leverage up to 1:1000, while accounts over $75,000 are capped at 1:100.

New clients can take advantage of a 30% First Deposit Bonus, which is credited to your account for deposits of any size up to a maximum of $1,000. The bonus is tradeable but terms and conditions apply. After that, clients have access to a 20% “Re-Deposit Bonus” for deposits of $100 - $1000.

zForex offers a modest but useful selection of educational resources aimed primarily at beginner traders. These include a free Forex e-book covering trading basics, a video tutorial series on using MetaTrader 5 and a “Learn Trading for Free” section with simple explanations of key concepts like margin, leverage, and market orders, etc. The blog is also updated with trading tips and general market commentary, providing extra insight for those looking to build their knowledge over time.

While detailed information on their fund security practices - for example negative balance protection and segregated account - is limited on the website, zForex does state its commitment to industry best practices and client fund safety. However, as with any offshore broker, we recommend always doing your own due diligence.

Overall, zForex offers a solid trading environment with both MT5 and cTrader platforms, flexible account options, high leverage and a broad range of instruments to trade. The ability to start trading with as little as $10 is appealing for beginners, while advanced traders will appreciate the inclusion of ECN pricing. That said, the broker’s regulatory framework may be a concern for risk-averse traders.