ZXCM Forex Review

Read our full ZXCM review to get exact details about their safety, accounts, spreads, platforms, assets, support, and much more. Our unbiased ZXCM opinion allows our readers to decide whether ZXCM is a reliable broker.

ZXCM Forex Broker History

ZX Capital Markets was founded in 2023 and operates under ZX Capital Markets Ltd, a company registered in Seychelles and Saint Lucia. The broker offers MT5 trading platform access and multiple trading account types, with a goal to attract traders looking for high leverage and flexible trading costs. Despite being a young offshore broker, ZXCM has managed to build a modern and fast website and provides all details about its trading platform and overall conditions.

ZXCM broker safety

ZX Capital Markets is licensed by the Financial Services Authority (FSA) of Seychelles, which is an offshore regulator with less stringent regulatory requirements. While the broker keeps client funds in segregated bank accounts, it lacks more advanced and needed safety measures, such as negative balance protection. This means traders can potentially lose more than their account balance in extreme market conditions. The broker’s offshore license makes it less secure than other brokers overseen by reputable regulators, but the ZXCM scam is not confirmed.

ZXCM Broker Review of Accounts

ZXCM broker trading accounts are Pro, ECN, Islamic, and VIP. Let’s briefly review each of them to define whether the broker is competitive with its trading conditions.

ZX Capital Markets Pro Account offers the following services and specs:

• Minimum deposit – $100
• Maximum leverage – 1:500
• Spreads – From 1 pip
• Commissions – $0
• Minimum lot size – 0.01 lots

ZX Capital Markets ECN Account offers low spreads but has commissions:

• Minimum deposit – $2,000
• Maximum leverage – 1:500
• Spreads – From 0.2 pips
• Commissions – $7 per lot round trip
• Minimum lot size – 0.01 lots

ZX Capital Markets Islamic Account is for Sharia law followers:

• Minimum deposit – $500
• Maximum leverage – 1:500
• Spreads – From 1.2 pips
• Commissions – $0
• Minimum lot size – 0.01 lots

The ZX Capital Markets VIP Account is the most attractive, but it has a huge minimum deposit:

• Minimum deposit – $50K
• Maximum leverage – 1:500
• Spreads – From 0.0 pips
• Commissions – Negotiable
• Minimum lot size – 0.01 lots

Overall, the pro account is the most competitive because of 1 pip spreads and zero commissions, while all others are expensive. The VIP is cheapest with spreads and negotiable fees, but its minimum deposit is at least 50,000 dollars.

ZXCM instruments

ZXCM provides access to FX pairs, commodities, indices, and futures. However, it does not offer stocks and cryptocurrencies, which limits multi-asset traders’ choice. The trading conditions are decent on the Pro account, but spreads and costs are usually higher on other account types, making it critical for traders to evaluate their trading needs and strategies before registering.

ZXCM Reviews of Trading Platforms

ZXCM only supports the MetaTrader 5 (MT5) platform, a trusted and popular terminal. It enables trading via algorithms (EAs), technical indicators, and advanced charting tools. The MT5 mobile app allows traders to execute trades on both iOS and Android devices on the go. The website is also mobile-friendly, enabling traders to manage their accounts from mobile devices.

ZXCM Forex Review of Extra Features

Extra tools and perks are minimal at ZXCM. The broker provides free demo accounts and basic market news updates only, but there are no webinars, tutorials, or trading courses. Also, no bonuses or promotions are available at this time, which makes the broker less competitive, especially for beginners and newcomers who value educational context and trading incentives.

ZXCM Reviews of Customer Support

Customer support service is available 24/5 via email and phone channels, but there is no live chat, which is a major drawback in today’s competitive trading environment. The support is available only in English and French, meaning the broker is not multilingual. While email replies are professional, the lack of instant live chat support makes it difficult to resolve issues faster, which is a serious issue.

ZXCM Deposit and Withdrawal

The broker supports deposits and withdrawals through bank wire (SWIFT/SEPA), Visa, Mastercard, Skrill, and USDT (TRC-20). Deposits are processed instantly depending on the method of payment, and withdrawals are completed within 24 hours during working days, which is very competitive. ZXCM does not charge any deposit or withdrawal fees, which is a plus for active traders who open many trades throughout the trading day.

ZXCM Review Conclusion – Can you trust ZXCM?

ZX Capital Markets, or ZXCM broker, is an offshore broker with appealing trading conditions on its pro account and the reliable MT5 trading platform. However, its weak regulation, lack of negative balance protection, missing live chat, and no educational resources are serious downsides.

In the end, ZXCM might be suitable for experienced traders familiar with offshore trading risks, but beginners should stay away from this broker.

FAQs on ZXCM

Is ZXCM a scam?

The ZXCM scam is not confirmed yet, as the broker is young and is regulated in Seychelles by the FSA.

What is the ZXCM minimum deposit?

The minimum deposit starts from $100 for the Pro account, while the VIP account requires $50,000.

Is ZXCM a cheap broker?

The Pro account offers fair costs, but ECN and VIP accounts are expensive, making the overall trading experience expensive at ZXCM.