Z.com Reviews by Forex trading experts the “ForexSQ” FX trading team, Finding out everything you need to know about the broker is in this Z.com Forex broker Review.
Z.com Review
Clients of Z.com Trade are offered several live account type – a commission-free account with the option for both variable and fixed spreads, and two ECN ones with spreads as low as zero, which involve commission fees. All accounts offer leverage up to 1:200 and the option to trade in micro lots, which are mostly used by inexperienced traders.
There are no swap-free (Islamic) accounts for Muslim clients, who are unwilling to earn interest for religious reasons.
The Company
Z.com Trade is the London-based subsidiary of GMO CLICK Group. GMO Click is a Multi-award winning broker with more than 400,000 forex clients worldwide.
The Group (“GMO CLICK”) was established in 2003 and is now one of the largest forex providers worldwide. It is made up of GMO CLICK Securities Inc. (regulated by the Financial Services Agency of Japan), Hong Kong-based GMO-Z.com Forex HK Limited, GMO-Z.com Bullion HK Limited, FX PRIME by GMO Corporation and London-based GMO-Z.com Trade UK Limited. GMO CLICK Holdings, Inc., parent company of the group, is listed on Tokyo Stock Exchange (TYO:7177) and is headquartered in Japan.
GMO-Z.com Trade UK Limited, doing business as Z.com Trade, was set up in 2012 and offers trading in forex, indices, energies and commodities through MT4 platform.
Security of Funds
GMO-Z.com Trade UK Ltd., doing business as Z.com Trade, is authorized and regulated by the Financial Conduct Authority (FCA).
All UK-based companies are required to observe the stringent rules and procedures set by the UK financial watchdog: they must keep all client money separated from the company`s own funds into segregated accounts; they must regularly report to FCA; they are obliged to hold net tangible assets amounting to at least €730 000 in order to prove their financial stability.
Besides, what is probably most important with regard to safety of funds invested in FCA-regulated companies is the Financial Services Compensation Scheme (FSCS) coverage. In the event of a shortfall, FSCS is able to cover your investment loss (or the funds held in your trading account) up to a maximum of £50,000.
Trading Conditions
Minimum Initial Deposit
The minimum deposit for opening or maintaining a trading account with Z.com Trade is $50, which is quite attractive. In comparison, forex.com, requires $250, and FxPro – $500.
Average spreads & Commissions
Z.com Trade’s fixed spreads amount to 2 pips on EUR/USD, which is average. Trading costs on ECN account, are around 1 pips for this pair, if we add the commissions, which is quite competitive pricing.
In comparison, Trading212 (also FCA-regulated) provides fixed spreads of 1.9 pips on EUR/USD and charges no commission fees. For further information, you may look up real-time spreads of 15 leading brokers may be viewed here.
Leverage
The maximum leverage rates at Z.com Trade are up to 1:200. Such leverage is considered standard, although many other FCA-regulated brokers offer higher leverage rates: FxPro offers leverage up to 1:500 and HY Markets – up to 1:300. You can check out more forex brokers offering leverage equal to or exceeding 1:500 here.
Higher leverage ratios may lead to heavy losses, exceeding initial investments. That is why limitations on leverage rates are set in some jurisdictions, and we advise traders to exercise caution when using higher leverage levels.
Trading Platforms
When trading with Z.com Trade, you will be offered the popular MetaTrader 4 (MT4), available as desktop and mobile versions.
MT4 is preferred by most experienced traders, because it is equipped with an advanced charting tools, more than 50 built-in indicators, a wide range of of Expert Advisors (EAs) and extensive back-testing environment for them. What is more, MT4 offers fully customizable interface and is available in more than 30 languages.
Z.com Trade is currently developing an in-house trading platform, called Z.com Trader.
Methods of Payment
Clients of Z.com Trade can make deposits to and withdrawals from their accounts via bank wire, Skrill, Webmoney, Qiwi, giropay, iDEAL, POLi, Yandex, Sofort and China UnionPay.
Part of the global leading GMO Click group, Z.com Trade is a reliable STP broker, offering trading in various currency pairs and CFDs under reasonable conditions.
Instead of the forex broker you can use Plus500, XM, eToro, Fxpro or AvaTrade forex brokers.
Z.com Review Conclusion
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