Zenfinex Review

Richard Montana | November 17, 2022

With its registered office in London, United Kingdom, Zenfinex is a globally recognized retail and institutional brokerage firm formed by traders for traders. They can provide you with advanced and versatile trading platforms for convenient market access across all of your desktop, web and mobile devices. The broker has a decent range of financial instruments across various asset classes including CFDs on forex, indices, cryptos and commodities. You can trade online with very competitive conditions including tight spreads from 0.1 pips on the EUR/USD, rapid trade execution speeds and no commission fees. There is a social trading platform for those of you who want to take a hands-off approach whereas beginners can get free access to some useful educational content. The minimum deposit is relatively low at $50 whereas free demo accounts are also available if you want to give them a try before making a commitment.

Summary

Founded in 2015, Zenfinex provides traders with multiple cutting-edge platforms to cater to the need of every individual trader with a transparent execution model. You can trade a good range of markets with very competitive conditions. They have a nice selection of educational content to assist those of you who are beginners get up to speed with the markets. You can also get access to a multilingual client support team who are on hand to help as and when needed.

Zenfinex is a trading broker that operates the Straight Through Processing (STP) execution model with no dealing desk intervention. This is a type of technology used by brokers to electronically transmit trades directly to the market. STP forex brokers execute trades on behalf of their clients by sending them directly to liquidity providers, such as banks or interbank exchange houses. I much prefer this type of broker to a market as it means there should be no conflict of interest and you can get your trades placed at the best possible prices at all time. I personally wouldn’t want to use a broker who can take opposite side of my positions.

With decades of online trading experience, Zenfinex is a worldwide renowned brokerage with headquarters in London’s Mayfair. The firm was created by Nick Cooke in 2017 and is regulated by the FCA. Europe, Asia, Australia, South America and Africa are all part of the company’s increasing customers. “Our purpose is to create an ideal trading environment that gives traders the greatest potential to win,” reads the mission statement of the FX and CFD broker. I think they certainly have the technology and trading conditions to help achieve this.

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Regulation

When it comes to choosing a broker, regulation is one of the most important things to look out for. This is because a regulated broker must follow strict rules and procedures that have been put in place to protect investors. Zenfinex is regulated and authorized by the Financial Conduct Authority (FCA). I personally consider this top-tier regulation so would have no problem in trusting them to operate in an honest and transparent manner. In addition to this regulation, Zenfinex Global is registered with the Financial Services Authority in Saint Vincent and the Grenadines (SVGFSA) and Zenfinex Global Limited is regulated by the Financial Services Authority of Seychelles (FSA). I think it is important to note that not all regulators are considered equal so protection may vary between entities.

Countries

The broker cannot accept residents of the United States, Canada, North Korea, Iran, Belgium, Japan or any particular country where such distribution or use would be contrary to local law or regulation. If you find they do not allow you to open an account for whatever reason, please feel free to browse our broker reviews for some alternative options.

Platforms

Zenfinex provides you with a multitude of trading instruments via multiple cutting edge platforms including the MetaTrader 4, MetaTrader 5 and ZenConnect platforms.

MetaTrader 4 (MT4)

This is one of the most popular and robust trading platforms within the industry. MT4 integrates seamlessly with the broker’s STP/NDD matching engine execution, and it features advanced charting with customizable indicators, scripts, and the ability to automate trades using expert advisors. The MT4 platform is available in desktop, web, and mobile versions. You can download MetaTrader 4 for your Windows desktop and benefit from low latency execution using cross connectivity technology located in Equinix LD5. You can trade on your Zenfinex account on mobile or tablet by downloading the modern and sleek MetaTrader app from the App Store or Google Play. I find the trading apps are perfect for checking my trades and following the latest market news from the comfort of my mobile phone. The MT4 web trader lets you quickly and easily access your trading account from any web browser without needing to install any software. The multi-account manager feature is a dedicated MT4 solution which allows fund managers to manage underlying investor accounts seamlessly, all from one login.

MetaTrader Platforms

MetaTrader 5 (MT5)

MT5 is the follow up platform to MT4 which maintains and expands on the core functionality of the original. I actually still prefer to use MT4 myself as I have never needed to make the switch over to MT5. It does everything that I need it to and much more. I think it is ideal for manual and automated trading, being very user-friendly but still packing a punch. That being said, MT5 is capable of more in-depth chart analysis if that is something you are looking for. Either way, both of the MetaTrader platforms or so similar. If you learn how to use one of them, you shouldn’t have any problem becoming accustomed to the other. Another great advantage of the platforms is that they are widely available through many brokers. This means that you won’t need to learn a new platform from scratch should you decide to switch providers down the line. I would say MT4 is more of a forex trading platform and MT5 is often considered more suitable as a stock trading platform. You could always open a demo account on both to see which you prefer.

ZenConnect

This is an app that has been built with a transparent STP execution model. It allows both beginners and expert traders to chat amongst a community 24 hours a day from anywhere in the world without missing a market move. The platform has a slick, easy-to-navigate interface with a built-in charting package that allows traders to plot indicators and trend lines with relative ease. ZenConnect lets you execute trades, copy experts and message other investors all on one platform. Chat, trade, copy, all on the go. If social trading is something that you are specifically looking for, I would say eToro are the industry leaders in that respect.

• Execute trades from hundreds of global markets 24hrs a day
• Follow and copy trades from other users
• Auto-copy expert traders
• Talk to other traders and learn from the best
• See trader performance
• Create your own chat groups
• Follow traders and receive their trade updates
• Join Mentor groups, learn and follow their signals

ZenConnect

FIX API

The financial information Exchange (FIX) protocol is developed specifically for the real-time electronic exchange of global trading transactions, including equities, futures, and forex. Zenfinex supports the FIX messaging version 4:4. You can connect Zenfinex Institutional Liquidity to your own trading platform or data tools. This can be a great solution for anyone who needs the best possible market access for demanding trading strategies. I think it could benefit scalping and automated systems where every tick counts. The only downside is it can be quite complex to setup so is perhaps more suited towards the professional traders amongst you.

• Equity CFD Liquidity Available
• Multiple FX Liquidity Providers Connected
• Real-time Transactions
• Rates Pushed and Not Pulled

Tools

Every Zenfinex client can access a suite of institutional-grade trading tools to elevate their trading to a new level. The provided platforms are loaded with a plethora of high-quality tools to ensure you can conduct market analysis in as much detail as you need to. There are tools for spotting important price levels, anticipating the market direction and managing your trades. You can setup your trading strategies within the platforms to be as simplistic or complex as you need them to be. Whatever your idea for trading system, chances are you will be able to build it. The platforms can also be extended with plenty of free and paid add-ons including technical indicators and trading robots. You can even develop your own tools if you have the coding skills to do so or hire a programmer to bring your ideas to life. I do think Zenfinex could improve by integrating with third-party market analysis software such as Autochartist and Trading Central. These are both available free of charge from competitors such as GO Markets.

Education

Whether you are new to trading or an experienced trader, you can stay informed with the latest news and expert analysis. Learn the art of trading the financial markets with the brokers exclusive tutorials and videos. They are easy to digest and well explained, making complex terminology easy to understand for everyone.

Podcast

Subscribe and listen to the brokers weekly podcast, Trade Retreat. It is hosted by their senior market analyst.

Video Tutorials

You can learn how to navigate across your Zenfinex trading account by watching a series of instructional videos.

Market Analysis

Watch daily in-depth market analysis videos from the senior market commentator. This can help to inspire possible trade setups.

Markets

Zenfinex has a generous range of markets with over 500+ instruments to choose from. They have 24/5 trading hours, competitive margins and tight spreads. I was disappointed to see they do not provider individual stocks. Therefore, you might want to take a look at IG instead if you are looking to trade stocks. They have a great selection of over 17,000 financial instruments in comparison.

Forex

trade forex with 50+ FX pairs, including major, minor and exotic currencies.

Metals

Trade Gold, Silver, Palladium and Platinum with competitive conditions.

Commodities

Trade commodities such as WTI Oil and Brent Crude Oil with low margin requirements.

Indices

Trade indices on the world’s most popular indices, including FTSE 100, S&P 500 and NASDAQ 100.

Cryptos

Trade the world’s most popular crypto CFDs, including Bitcoin and Ethereum.

Accounts

Regardless of experience, Zenfinex have a good selection of live trading account options with an option for every kind of trader. The minimum deposit of just $50 is very reasonable but that will only get you the standard account which doesn’t have the lowest spreads. However, it also has no commission fee so the price difference might not work out that much different in the long run. If you are using spread sensitive strategies such as scalping systems, then you may want to consider the VIP account. It has the lowest spreads and commission fees overall, but does have a much higher minimum deposit requirement of $10,000. That being said, the commission fee on the pro account is still in line with the industry standard and not bad at all. I think it would be better if all traders could get access to the same account conditions, regardless of their investment size. If you are looking for 0.0 pips spreads, IC Markets are an option and they only require a $200 minimum deposit.

Standard Account

This account is designed for new or intermediate traders that want a complete trading experience.

• Open an account with a minimum deposit of £50, $50 or €50
• Utilise leverage of up to 500:1
• Trade across Forex, Metals, Indices, & Commodities
• Trade on MetaTrader 4, MetaTrader 5 or ZenConnect
• No commission fee

Pro Account

This account is perfect for professional traders that want low commission rates and institutional spreads.

• Minimum deposit of £2,500, $2,500 or $2,500
• Utilise leverage of up to 500:1
• Trade across Forex, Metals, Indices, & Commodities
• Institutional spreads and low commission rates
• $3.5 per side per 100,000 traded / $3 (for accounts > $20,000)

VIP Account

This account is for professionals that trade at high volumes. It allows you to access raw FX interbank market spreads and more.

• Minimum deposit of £10K, $10K or $10K
• Utilise leverage of up to 500:1
• Access raw FX interbank market spreads
• Enjoy the best commission rates
• $2 per side per 100,000 traded

Demo Account

There is also the demo account which enables beginner traders to try out the broker’s platforms and practice risk-free trading with virtual funds. I think this is a great way to see if what Zenfinex has to offer can meet your individual needs. It can also be good for trying out different strategies and building your confidence before you make a financial commitment.

Support

Zenfinex understand the importance of exceptional client support which is why you can contact them through various channels around the clock. The broker’s vastly knowledgeable support staff can be contacted via telephone, live chat, email or a support ticket – 24 hours a day, five days per week. I have always found them a pleasure to deal with and appreciate how they have taken the time out to respond to feedback online as this shows me they care about user experience.

Funding

Traders are allowed to deposit and withdraw funds to and from their trading accounts using a good variety of payment methods including bank transfer, credit/debit card and online payment processors. I think these methods are very convenient, with options for quick and easy account funding. I particularly like the digital wallet options as I often find this to be the best way to move funds around between my trading accounts.

Conclusion

Overall, I think Zenfinex is worth consideration for anyone who is looking for access to the markets with minimal hassle. You can trade on user-friendly platforms with all of the tools you need for analysing the markets, placing and managing trades. There is some handy educational content for beginners and free demo accounts to get a feel for what the broker has to offer whilst building your confidence. The ZenConnect social platform provides a good way to connect with like-minded individuals. Despite the positives, there is a lack of individual stocks and the best account conditions require a much larger deposit. Other than that, if you are looking to trade in a regulated environment, then Zenfinex are certainly an option.

$50

Zenfinex clients benefit from instant access to multiple markets, a choice of platforms, transparent execution, tight spreads, flexible leverage and superior customer service with offices around the globe.

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.

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About the Author

Richard Montana
Richard has many years of experience in broker research, testing, analysis and reviews. He knows what to look for through years of trading himself with different brokers and listening to the feedback of others.