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Zxmarkets

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Name

Zxmarkets

Demo version

Yes

Regulation (trading)

The Financial Conduct Authority (FCA)

Country

United Kingdom

Time zone

UTC

Languages

English

Spot trading

Yes

Spreads

1.99

Scalping

Yes

Hedging

Yes

Decimal pricing

5 Digits

Max Leverage

1:200

One click execution

Yes

Minimal Lot

0.01

Trading Platform

MetaTrader 4

Bonus

25% bonus and spread reduction on first deposits + 50% bonus and account upgrade on subsequent deposits.

Currencies

British Pound, Euro, United States Dollar

Currency pairs

7

Deposit methods

Bank wire, Credit card (VISA/Mastercard), Skrill

Minimum Initial Deposit

100 USD

Supported fiat currencies

British Pound, Euro, United States Dollar

Withdrawal methods

Skrill, Credit card (VISA/Mastercard), Bank wire

Contact phone

442 032 899 941, 00

Contact email

Zxmarkets is a forex broker that was founded in 2009 and is based in St. Vincent and the Grenadines where it is regulated by the local Financial Services Authority (FSA). In addition, it holds a license from an undisclosed company in Seychelles. Despite all that, it continues to offer their clients with the opportunity to trade in CFDs, currency pairs, and commodities. This list obviously does not list cryptocurrencies as part of the instruments on offer. Like other overseas forex brokers, Zxmarkets does not accept clients from the United States.

Features

While forex brokers operate in almost similar ways, there are certain features that distinguish the best from the rest. Here are the features that define Zxmarkets forex broker:

1. Trading Platforms

The trading on Zxmarkets is done on the proprietary xStation trading platform owned by the FCA and Poland-regulated XTB forex broker. It is available in the form of a web version (xWeb) and mobile version (xMobile). In 2016, Online Personal Wealth Awards voted the xStation platform as the est Trading Platform’. This is thanks to its fast execution, charting, and technical analysis tools. What’s missing on Zxmarkets is the popular Meta Trader 4 (MT4) trading platform.

2. Types of Accounts

So far, Zxmarkets provides three trading accounts including the X-standard, X-premium, and X-Pro. Each of these accounts comes with its own unique features with the X-standard account having a minimum deposit of $200 and leverage of up to 1:200. The X-premium account has a minimum deposit of $2,000 and maximum leverage of 1:400. As for the X-pro account, the minimum deposit is $5,000 with a maximum leverage of 1:400. Across the three accounts, the spreads are fixed at 2 pips. You can trade indices, forex, CFDs, and commodities using any of these accounts.

3. Deposits and Withdrawals

You cannot use the Zxmarkets trading platforms before making deposits into your trading account. Similarly, it is necessary for traders to withdraw funds from time to time. The deposit and withdrawal methods provided by Zxmarkets include debit cards, credit cards, bank transfers, and the e-payment platform Neteller.

4. Bonuses and Benefits

One of the reasons for traders signing up for the services of a forex broker is the bonuses and rewards on offer. On ZXmarkets, there is a 100 percent Refer-A-Friend bonus for everyone who refers their friends to register. That’s in addition to a 25 percent xclusive bonus’ when one makes a first deposit exceeding $500. Account upgrades or re-deposits attract a 50 percent bonus.

5. Customer Support

Traders may contact the Zxmarkets customer support via telephone or a fill-in web form. Of these methods, calling the telephone number is the easiest even though you have to do it within the working hours.

Advantages

  • Provides some attractive bonuses and rewards
  • The leverages on trades as high as what you will find elsewhere
  • Provides a variety of account types
  • Offers a variety of trading instruments

Disadvantages

  • Does not provide the MT4 trading platform
  • Regulated in an offshore location
  • Clients are limited when it comes to the methods of reaching customer support
  • Does not support the use of popular e-payment services like PayPal

Conclusion

Taking cognizant of the features, advantages, and disadvantages listed above, it is clear that Zxmarkets is a great forex broker for individuals looking for high rewards and bonuses while missing out on the benefits of the popular MT4 trading platform.

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