ZX Capital Markets (ZXCM) Forex broker review — Everything you need to know

Minimum deposit

100 USD

Bonus

Maximum leverage

1:500

Year founded

2023

Regulation

FSA of Seychelles

Trading platform

MT5

ZX Capital Markets Ltd is a broker based offshore, and ZXCM is its brand name. The broker offers diverse account types, access to the advanced MT5 platform, and multiple trading asset classes.

In this unbiased review of the ZXCM broker, we will assess its main features, such as safety and licenses, trading costs, accounts, platforms, profit withdrawals, support, and more. After reading this compact review, you will be able to define whether this broker is safe and suitable for your trading needs.

ZX Capital Markets (ZXCM) Overview of the website

The website of ZXCM is very responsive and modern in design. It enables quick and simple navigation around, and every crucial detail is offered in a well-ordered menu. This is very crucial as it allows users to quickly review account types and other conditions and decide whether they are attracted to this broker’s offerings. The broker’s website is also mobile-friendly, meaning that traders can access it from their mobile devices on the go and use it seamlessly. The website is available in English and French, which is not enough to call it multilingual.

ZXCM lacks a live chat plugin, meaning it does not provide a live chat support channel, which is a big downside for this broker. Despite this, it is very transparent and offers email, phone support, and discloses its addresses as well.

ZX Capital Markets (ZXCM) Safety and Licenses

ZX Capital Markets Ltd (Seychelles) is regulated by the Financial Services Authority in Seychelles (FSA). While the broker is also registered in Saint Lucia, it is not regulated there, meaning it operates with just an FSA license. Despite this, it still keeps trader funds in segregated bank accounts, which is an important security feature for trader funds.

There’s no evidence that ZXCM offers negative balance protection, which is a major drawback, as this policy ensures traders won’t become liable for losses beyond their account balance. Since the broker has pretty high leverage, the lack of an NBP policy is a serious downside.

ZX Capital Markets (ZXCM) Accounts Reviewed

ZXCM excels in trading account diversity as it offers four different types of accounts: Pro, ECN, Islamic, and VIP. So, the pro and ECN are the two base accounts, while Islamic and VIP offer similar conditions, where VIP has better conditions than the others.

ZX Capital Markets (ZXCM) Pro Account

Here is what this account has to offer:

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

ZX Capital Markets (ZXCM) ECN Account

This account requires a very high minimum deposit but is expensive with both spreads and commissions, making it unattractive:

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

ZX Capital Markets (ZXCM) Islamic Account

The Islamic account is similar to the Pro account but has more expensive spreads:

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

ZX Capital Markets (ZXCM) VIP Account

The VIP offers the best conditions, but the minimum deposit is the highest:

Minimum deposit – 50,000 USD
Maximum leverage – Unknown
Spreads – From 0.0 pips
Commissions – Negotiable
Minimum lot size – Unknown

Overall, the pro account is the most reasonable, while ECN is more expensive than other brokers, and VIP offers the best conditions, but the minimum capital requirements are too high for the average forex trader.

Deposit and withdrawal options at ZX Capital Markets (ZXCM)

The broker accepts multiple payment options, such as Bank wire (SWIFT/SEPA), Visa, Mastercard, Skrill, and USDT (TRC-20). Deposits are mostly instant, depending on the payment method selected, while withdrawals take under 24 hours. This is very competitive for withdrawals. There are no deposit or withdrawal fees applied from the broker’s side, which is also flexible.

ZX Capital Markets (ZXCM) Assets — What can you trade?

When it comes to trading assets, ZXCM provides access to diverse instruments in forex pairs, commodities, indices, and futures. There are no stocks or cryptos offered, which is a noticeable downside, especially the lack of digital pairs. Trading conditions are competitive on pro accounts, while on others, the broker is expensive, except for VIP accounts.

Trading platforms of ZX Capital Markets (ZXCM)

The broker only provides access to the advanced MT5 trading platform. This trading software is very advanced and supports automated trading through Expert Advisors (EAs) and custom indicators, and the broker allows traders to use these tools. Mobile trading is also available via the MT5 mobile app, enabling iOS and Android users to access markets seamlessly while on the go.

Education at ZX Capital Markets (ZXCM)

ZXCM does not provide learning materials, as there are no webinars, trading courses, or video guides. This is disadvantageous for beginners who want to learn about trading while trading on a demo account, which the broker provides for free. There is market news, and that’s it. While it can help traders make more accurate decisions, it is not enough.

ZX Capital Markets (ZXCM) Customer Support

Customer support experience at ZXCM is provided via phone support and email channels. The support is online 24/5, which is flexible. However, the lack of live chat is a serious problem and makes the broker very unattractive at the moment. The broker is not multilingual either.

ZX Capital Markets (ZXCM) bonuses and promotions

ZXCM lacks trading bonuses such as welcome bonuses, deposit bonuses, and no-deposit offerings. The promotional events are also lacking, which is a minor drawback.

Is ZX Capital Markets (ZXCM) your broker? Final verdict

ZXCM is a relatively new offshore forex broker regulated by the Seychelles FSA. It offers the MT5 platform, a decent range of trading assets, and several account types. It lacks key safety features like negative balance protection, live chat support, educational materials, and trading bonuses.

Overall, while its pro account is competitive and withdrawals are fast, ZXCM’s offshore status and limited transparency make it suitable for experienced traders who can manage higher risks, but not recommended for beginners.