Z.com Trade Review
Z.com Trade is one of the largest forex provider by volume, serving over 700,000 traders across the globe with more than $1 trillion traded monthly across their secure and powerful trading platforms, with reliable execution and tight spreads.
Z.com Trade Review, Pros & Cons
- Strict regulation
- Fast trade execution and ultra-tight pricing
- Deep liquidity pools
- Straight through processing (STP) execution model with no dealing desk (NDD)
- FIX API
- Commission free accounts
- Multiple deposit / withdrawal methods
- Segregated client funds
- No US clients
- Restricted leverage for EU clients
- Limited non-FX trading instruments
In this detailed Z.com Trade review, our online broker research team have covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
Z.com Trade is the world’s largest forex provider by volume since 2012, serving over 700,000 traders across the globe with more than $1 trillion traded monthly across their secure and powerful trading platforms.
Z.com Trade is the global brand of Japanese based GMO Financial Holdings Inc, who according to a report by the Finance Magnates Retail Forex Industry in 2012 – 2018, are the World’s Largest Retail Forex Provider by Volume. They have a trading volume that accounts for an astonishing 20% of leveraged forex trading in the world.
Established in 2005 and previously known as GMO CLICK, they rebranded in 2015 to GMO Financial Holdings Inc to signify their continued expansion into the financial industry and have been listed on the Tokyo Stock Exchange ever since.
Z.com Trade offers forex and CFDs based on indices and commodities. They have a large network of advanced and secure technological infrastructure with access to deep liquidity pools from a vast array of liquidity providers (LP’s). This helps to ensure that they continue to deliver high quality trading conditions to retail traders, including fast trade execution and ultra-tight pricing at a fraction of the cost. Systems are hosted in Equinix’s LD4 data centre in London, utilising some of the best available trading technologies.
Z.com Trade operates a Straight Through Processing (STP) execution model without a dealing desk that ensures your trades are executed with no intervention, fair and transparent prices, with no conflict of interest. Spreads start from just 0 pips on ECN accounts with the deep liquidity pools helping to ensure that spreads are as low as possible during all market conditions.
They are committed to keeping costs low and use their own in house developed technology rather than outsourcing services to third party providers as most other brokers do. This enables them to deliver the latest technology quickly and to tailor their products and services to suit the needs of their clients.
There are a multitude of funding and withdrawal options via the secure client portal and a professional client services team available to assist you at any time. The education and analytical portal can assist your trading by providing you with the latest news updates, technical and fundamental analysis, signals, strategies and more.
Z.com Trade is the service name of GMO-Z.com Trade UK Limited and are authorised and regulated by the Financial Conduct Authority (FCA) as an affiliated company of GMO Financial Holdings Inc. Z.com Trade HK – located in Hong Kong, is regulated by the Securities & Futures Commission (SFC).
This regulation means that they must comply with the strict regulatory requirements set forth by the FCA to conduct their business with the upmost integrity and honesty. Regulation can help to ensure traders that they are using a reputable and established broker.
Client funds are held according to client asset rules in segregated bank accounts, separate from their own funds. This ensures that client funds are not used for any other purpose. The Financial Services Compensation Scheme (FSCS) can provide cover up to £50,000 for eligible claims if Z.com Trade fail to meet their financial obligations.
Z.com Trade accepts traders from all over the world, excluding USA, Canada, Iran and some third-world countries. Some Z.com Trade broker features and products mentioned within this Z.com Trade review may not be available to traders from specific countries due to legal restrictions.
Z.com Trade offer a choice of powerful and flexible online trading platforms for PC, Mac, iOS and Android devices. This includes MetaTrader 4 (MT4) and FIX API connectivity for professional traders.
MetaTrader 4 (MT4) Platform
Z.com Trade offer the ever popular MetaTrader 4 (MT4) trading platform which is considered by many as the most user-friendly platform. It is used by traders of all experience levels from across the globe. MT4 is free to download and use on your desktop, web browser and mobile devices (iOS & Android).
Through the powerful and intuitive MT4 platform, you can access the full range of trading instruments and markets provided by Z.com with the full support of their secure and stable network of technology and infrastructure.
MT4 is available in over 30 languages with a fully customisable interface so that you can create the ideal trading environment according to your preferences. It has many built in indicators for conducting detailed chart analysis and spotting potential trading opportunities.
You can also create your own custom indicators and automated trading strategies with expert advisors (EA’s), which are fully supported without restrictions. There is a large online MetaTrader community where traders share tools, strategies and signals.
Some of the key MT4 features include:
- Real time bid/ask price quotes from the market watch window
- User friendly trading platform
- Fully customisable trading interface
- Multiple charting styles including bars, candlesticks & line graphs
- Multiple order types supported including limit & stop orders
- Various chart timeframes to choose from including short & long term
- Hundreds of technical indicators, scripts & EAs built into the platform
- Create customised tools using the MQL4 programming interface
- Supports automated trading through the use of expert advisors (EAs)
- Strategy tester to back test EAs across historical data
- Online community for additional platform tools & features
Clients can also connect directly to Z.com Trade via FIX API connectivity at servers hosted in Equinix’s LD4 data centre in London, for flexible access and high-speed trading. This gives full access to the STP no dealing desk execution model through a front-end solution that can be customised to suit your requirements. Access is available in industry-standard FIX 4.4, where you can can manage your trades, access market data, create strategies and automated trading solutions.
Z.com Trading Tools & Education
Z.com have an education and analytical portal that allows you to analyse the markets which is available to all Classic, ECN and ECN Plus Account holders. This can be accessed instantly, directly from the client portal and has a range of trading resources including economic news releases, analytical content, analysis tools, video tutorials, trading strategies, trading signals, access to a member of the analysis team and more.
Market News & Updates
Market news and updates help keep your pulse on news releases that may affect trading instruments that you are following and can therefore be used to help with trading decisions. They can also be used to inspire potential trading opportunities across various markets.
Technical & Fundamental Analysis Feed
The technical and fundamental analysis feed can pin point or confirm potential trading opportunities and assist with your own trading strategy.
Trading Signals & Strategies
There are pre-built trading strategies you can utilise and trading signals should you be looking for some trade inspiration.
The economic calendar can be used to quickly identify upcoming events and what markets they may have an effect on. This is often a key part of the fundamental analysis within a trading strategy. The calendar displays the date/time of releases, potential impact and the markets affected.
Education Courses & Analysis Tools
The educational courses are thorough and suitable for all levels of traders. If you are new to trading or looking to further advance your trading knowledge, there is likely to be some information that you will find useful. Topics covered include trading platforms, trading strategies, technical and fundamental analysis, risk management and more.
The wide range of analysis tools can be used to compliment your own trading strategy and to scan the market for potential trade setups quickly and efficiently.
Z.com Trade offer the most popular markets across the globe for retail traders to access through their powerful technology and infrastructure. This includes major, minor and exotic FX currency pairs, commodities and indices. There are currently 55 FX pairs, 7 Commodities and 10 Indices to choose from.
The straight through processing (STP) and non-dealing desk (NDD) model installs confidence that there will be no conflict of interest between parties and ensures traders are provided with the best liquidity for tight spreads and fast order execution at the best possible prices, across all markets.
Z.com Accounts & Fees
Z.com Trade have a selection of accounts for you to choose from. All accounts use the STP NDD execution model and have different features so that you can opt for an account that is most suitable to your trading needs.
The classic account offers no commission trading with the spread being the only cost. The spreads are variable depending on market conditions and will usually be higher than a commission-based account spreads, starting from 1 pip on major FX pairs. If spreads are not that important to your trading strategy then this account could be considered. Trading instruments are limited on this type of account and the minimum deposit is $50.
The ECN account is targeted towards the more experienced traders with direct market access (DMA) and spreads staring from 0 pips. There is a larger number of trading instruments to choose from and a $2.5 commission charge per lot on FX, Gold and Silver, but there is no commission for other commodities and indices. If tight spreads are an important aspect of your trading strategy or if you wish to diversify into other markets, this account may be preferable. The minimum deposit required for this account type is $50.
ECN Plus Account
There is an ECN plus account which is geared more towards professional traders who want to trade larger volumes whilst saving on costs and get more of a personalised service. Qualifying for this account requires a $10,000 minimum deposit or 100M monthly trading volume, whilst the commission is $2.5 for FX, Gold and Silver, with no commission for other commodities and indices.
If you qualify as a professional client you can apply for a professional account which has lower margin requirements and higher leverage. This account has the lowest overall costs, variable spreads from 0 pips and a $2.5 commission charge on FX, Gold and Silver. To qualify you will need to maintain a minimum account balance of $10,000 or trade at least 100M in volume per month.
Whatever account you opt for, it can easily be managed through the secure online client portal where you can check your account details and deposit or withdraw funds. If you wish to trade on multiple accounts with multiple strategies you can do so by creating additional accounts from within the portal. Funds can quickly and easily be switched between accounts. This portal is also where you access the education and analytical tools.
As broker fees can vary and change, there may be additional fees that are not listed in this Z.com Trade review. It is imperative to ensure that you check and understand all of the latest information before you open a Z.com Trade account for online trading.
Z.com Trade offer telephone support during normal office hours. There is also a telephone number provided for urgent assistance outside of regular office hours. Online chat and email support are also available. The client services team aim to answer all of your questions and give you assistance in a prompt manner although response time can vary depending on your geo-location.
Telephone calls and online chat conversations are recorded and monitored for regulatory, training and quality control purposes.
Z.com Deposit & Withdrawal
Z.com Trade have a range of local and international payment options to securely deposit and withdraw funds to and from your trading account. Online payment processors are available which can be a faster and more convenient method for some clients.
Fees may be charged when using certain payment methods. Bank transfers can take a few business days to clear. Accounts can be opened in USD, EUR & GBP. The different currency options are useful as currency conversion fees do not apply when using an account in your own currency.
Z.com Account Opening
Opening an account is quick and easy with a very short online form to fill in. You will then need to verify your email and upload documents for the Z.com Trade back office to verify your identity. Once complete, you will be able to fund your account and begin trading. The customer support team are on hand to help you should you need assistance during the account opening process.
Z.com Trade is a very well-established online broker with a huge amount of trading volume processed every month a testament to the advanced and powerful technology they provide traders with. They endeavour to provide clients with the best possible trading conditions, including high speed trade execution, tight spreads and competitive commissions. There is a good selection of tradable assets, account types to suit individual needs as well as multiple methods of account funding. Strict regulation gives clients peace of mind that they are using a trusted broker who has over a decade of experience within the industry.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.