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Z FOREX

Severe riskForex / CFD broker
Bulgaria · 2-5 years · since 2022-09-01 · Z Forex Capital Market LLC
Unregulated
Visit site ↗
—/5
★★★★★ ★★★★★
32 reviews ›
0
Licenses ›
11
Withdrawal issues ›
$10
Min. deposit ›
1:500
Max leverage ›
3
Account types ›
75/100
Scam risk ›
0
Clone sites ›
Accounts: SWAP FREE · 2,500$ECN Trading · $10Standard · $10
▲ 78% positive▼ 17% negative
Independent ratingshow third parties score this broker
WikiFX2.12/10
Trustpilot—/5
Forex Peace Army4.115/5
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Z FOREX operates in your country (United States) — but holds no local license. You’d likely be onboarded under an offshore entity, which means weaker fund protection. Confirm which entity before depositing.
75
Severe risk
Scam Risk Scoremonitored · 2026-07-28
Lower riskHigher risk
  • No verified regulatory license on file
  • 4 user exposure/complaint reports filed
  • Withdrawal complaints in ~48% of recent reviews
How this score is calculated — view the open algorithm

A transparent weighted score from objective public data — each factor scored 0–100 (higher = riskier), combined by the weights below.

FactorScoreWeight
Regulation & licensing8535%
Company age4515%
Clone / impersonation012%
Withdrawal & exposure complaints10012%
Offshore registration458%
Transparency (site/info/social)2510%
Real-user sentiment88%

Based on public regulatory records, industry databases and independent reviews (Trustpilot, Forex Peace Army). Exit Risk reflects recent negative momentum in real reviews. A risk estimate from public data, not a definitive legal judgment; brokers may request a correction.

Company
Legal nameZ Forex Capital Market LLC
Headquarters Bulgaria
Founded2022-09-01
Years operating2-5 years
Employees0
Official websitezforex.com
Trading conditions
Avg execution speed0 ms
Avg slippage0
Swap rating—
Trading cost rating—
Monitored traders0
Monitored orders0
Funding & instruments
Deposit methods · --
Withdrawal methods · --
Instruments--
Registered address
Sofia, Olimpiyska str., SiteGround, Sofia Park, fl. 4, No: 2, post code: 1756, Bulgaria

Regulation & licenses · 0

No valid regulatory license found — high caution advised.

Account types · 3

AccountMax leverageMin. depositMin. spreadCommissionEA
SWAP FREE1:5002,500$0.710$ Forex, 15$ Metals✓
ECN Trading1:1000$10as low as 0$7 Forex, $15 Metals✓
Standard1:1000$101.20$✓

Review analysis AI

Z Forex presents significant risk due to its unregulated status in our records, despite its own claims of MISA licensing. The high leverage of up to 1:1000 and low deposit requirements increase the potential for substantial losses. Traders should exercise extreme caution and consider the lack of independent oversight as a major red flag.

Best for
  • Traders seeking high leverage (up to 1:1000) with low minimum deposits
  • Those interested in commission-free Standard account with 1 pip spread
  • Traders looking for ECN-style execution with low spreads and transparent pricing
Not for
  • Risk-averse traders who prioritize regulatory protection from recognized authorities
  • Traders from jurisdictions where the broker is not accepted (e.g., US, EU under MiFID)
  • Investors requiring strict adherence to investor compensation schemes
Period:
What users complain about
What users praise
Where reviewers are from
Spain6
Italy4
United Kingdom4
Pakistan2
Germany2
Norway2
Positive vs negative · last 2 months Pos Neg
Nov
Jun

Real user reviews

Where Z FOREX operates

Active across 32 markets (by market presence). Licensing rarely covers all of them — where it isn’t locally licensed, you’re onboarded under an offshore entity with weaker protection.

🇺🇸 United States
🇮🇩 Indonesia 1 complaint
🇪🇸 Spain
🇻🇳 Vietnam
🇵🇰 Pakistan 2 complaints
🇮🇳 India
🇲🇽 Mexico
🇧🇷 Brazil
🇨🇴 Colombia
🇩🇪 Germany
🇸🇬 Singapore
🇲🇾 Malaysia
🇿🇦 South Africa
🇦🇪 United Arab Emirates
🇹🇷 Turkey
🇳🇱 Netherlands
🇹🇭 Thailand
🇪🇬 Egypt
🇭🇰 Hong Kong 1 complaint

Market presence: WikiFX SkyEye · complaints: our records · licensing: official registers. Where you’re accepted is set by the broker’s own terms — always confirm before depositing.

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What Z FOREX says about itself as stated by the broker · not independently verified by FXCanary

Regulation and Licensing

According to its website, zForex Capital Market LLC is licensed by the Mwali International Services Authority (MISA) with Brokerage License number T2023321. The broker states it is registered in Saint Vincent and the Grenadines and follows strict rules set by global regulatory bodies to ensure fair practices and client protection.

zForex claims to be an internationally licensed broker, providing a secure trading environment with advanced technology and security protocols to safeguard client funds.

Account Types

The broker offers three live account types on its website. The Standard Account is commission-free with a tight spread of 1 pip and maximum leverage of 1:1000, requiring a minimum deposit of $10. The ECN Account provides competitive pricing with a $7 commission per forex lot and spreads approaching zero pips, also with a minimum deposit of $10 and leverage up to 1:1000.

Additionally, a Swap-Free Account is available for traders who require Islamic-compliant trading, with a minimum deposit of $2,500 and maximum leverage of 1:500. The website also advertises a demo account for practice.

Trading Platforms and Instruments

zForex states that it offers MetaTrader 5 and cTrader as its trading platforms, providing advanced tools, charts, and fast execution. According to the broker, these platforms support a wide range of financial instruments including forex, metals, indices, commodities, stocks, and cryptocurrencies.

The website provides detailed spreads and swap rates for major forex pairs, contract sizes, and other trading conditions.

Deposits and Withdrawals

The broker's website claims guaranteed same-day withdrawals and various payment methods. A PDF document outlines that deposits and withdrawals can be made through the client's Personal Area, with minimum deposit requirements and withdrawal commissions displayed there. The company does not accept payments from third parties and requires the same payment method for withdrawals as used for deposits.

Promotions and Partner Program

zForex promotes several offers including a Contest Live Leaderboard, an IB Rebate Scheme with rebates up to $10, and an Unlimited CashBack program earning up to $2 per lot. The broker also provides a zForex Partners App for managing affiliate business on mobile.

About Z FOREX

Who Is Z Forex?

Z Forex, operating under the domain zforex.com, is an online broker based in Bulgaria, registered at an address in Sofia. Founded in September 2022, the broker targets retail traders seeking leveraged forex and CFD trading. According to our records, Z Forex does not hold any regulatory licenses from recognized financial authorities.

However, the broker's own website claims regulation by the Mwali International Services Authority (MISA) under license number T2023321 and states it is registered in Saint Vincent and the Grenadines. This discrepancy raises caution, as registration in Saint Vincent and the Grenadines does not imply robust financial oversight.

Account Types and Minimum Deposits

Z Forex offers three live account types: Standard, ECN, and Swap-Free. The Standard and ECN accounts require a minimum deposit of $10, while the Swap-Free account requires $2,500. The Standard account is commission-free with a spread of 1 pip, while the ECN account charges a $7 commission per forex lot with near-zero spreads.

Maximum leverage is up to 1:1000 for Standard and ECN accounts, and 1:500 for the Swap-Free account. A demo account is also available for practice.

Trading Platforms and Instruments

The broker provides MetaTrader 5 and cTrader as its trading platforms, offering advanced charting and analysis tools. Traders can access a range of instruments including forex, metals, indices, commodities, stocks, and cryptocurrencies.

Specific trading conditions such as spreads, contract sizes, and swap rates are published on the website for various assets, including major forex pairs.

Funding and Withdrawals

The broker claims same-day withdrawals and offers various payment methods for deposits and withdrawals. According to its policies, clients must use the same payment method for withdrawals as for deposits, and third-party payments are not accepted.

Minimum deposit requirements are indicated in the client's Personal Area, along with any applicable withdrawal commissions.

Client Suitability

Z Forex is aimed at traders seeking high leverage and low initial deposits. The broker does not accept clients from several countries, including the United States, Iran, North Korea, Myanmar, and Turkey.

Given its unregulated status (according to our records) and the high leverage offered, the broker may not be suitable for risk-averse traders or those in strictly regulated jurisdictions.

Overview compiled by FXCanary from regulatory records and public data. full Z FOREX review