ZeForex Review

ZeForex Review by professional Forex trading experts the “” FX trading team, Finding out everything you need to know about the broker is in this ZeForex Review.

ZeForex Review

ZeForex is a forex broker, which also provides binary options. The options platform felt clunky, when we tested it. The same also goes for the forex trading one, but we will dedicate more time to it in the review.

The Company. Security of Funds

ZeForex is a brand owned by GLG International OU. The company is based in Estonia and does not claim to be affiliated with any regulatory agency. We do not recommend trading with unregulated brokers, as the possibility of them scamming you is high.

Different countries have their own specific institutions, which oversee the financial services sector. As an example, the Cyprus Securities and Exchange Commission (CySEC) is one of the more reputable ones, which also has a lot of brokers registered with it. The commission forces companies to frequently report their activities. Furthermore, there are several key regulations in place, with two standing out as the most important, in terms of security of funds.

Client’s investments are kept in segregated accounts, which the broker can’t freely access. This prevents the most basic scam – the company simply taking your money. Furthermore, there is a compensation scheme in place. In essence, this is a common pool, to which all brokers contribute a small portion of their profits. The funds then serve as a guarantee, in case one of the companies goes bankrupt. If you trade with a CySEC-regulated broker, which happens to go under, your account will be protected up to EUR 20,000.

Trading Conditions

Minimum Initial Deposit
ZeForex has not mentioned a minimum deposit requirement. This is not the case, when it comes to most forex brokers. The companies, which offer the lowest entry barriers even use it as a marketing tool. For instance you can deposit as low as you want at the FCA-regulated industry pioneers at IG.

On the other hand the minimum deposit is not that important of a trading condition, unless you are still learning and want to risk a little.

Average spreads & Commissions
ZeForex offers fixed spreads. The EUR/USD one is 2 pips, which is not competitive, even when compared to some fixed spread brokers. For instance, if you deposit more than $250 with easyMarkets, you will receive a 1 pip fixed spread for the same pair. That being said floating spreads can go even lower.

The maximum leverage provided by ZeForex is 1:100. This is a perfectly fine ratio, although you may be thinking otherwise, if you follow the industry. Many brokers offer 1:500 or even higher leverage ratios, which ate unnecessary for most traders.

In fact, high leverage is one of the main reasons, why beginners lose money, according to most experts. This is why US regulators have even capped the ratio, which can be provided to retail clients to 1:50.

Trading Platforms

ZeForex offers trading via a web-based platform and a mobile app. The in-browser version was definitely not impressive. It is essentially an instrument list with a really basic chart next to it.

That being said (and shown), charting by TradingView is also available, via the “advanced chart button”. Although this is useful, you could have just as easily checked TradingView on your own. Overall, there is no room for comparison between this platform and industry staples, such as MetaTrader 4(MT4) and even the less popular cTrader.

Methods of Payment

The payment options at ZeForex are quite limited – only Credit/Debit Card or UPayCard. Lots of brokers provide solutions such as Skrill and Netteler, which are relatively popular e-wallets.

ZeForex is an unregulated forex broker and binary options provider. The web-based trading platform feels clunky. Trading conditions are not competitive for the current environment.

The Broker is not a safe forex broker, Instead you can use Plus500, XM, eToro, Fxpro or AvaTrade forex brokers.

ZeForex Review Conclusion

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