Zenfinex Review
Rana Adnan | September 10, 2020
Table of Contents
With its registered office in London, United Kingdom, Zenfinex is a globally recognized retail and institutional brokerage firm formed by traders for traders. They provide traders with sophisticated trading platforms, including the MT4 platform, for trading many financial products, including forex, indices, metals, stocks, energies, and commodities.
Broker Pros / Cons
- Regulated broker
- Multiple trading platforms
- Various financial instruments
- FIX API trading
- No standalone trading tools
- Limited educational resources
- Limited funding options
- No USA clients
Summary
Zenfinex is an online trading broker that operates the STP execution model with no dealing desk intervention. The broker is based in the United Kingdom and boasts of a global clientele. They offer a multitude of trading instruments via the MT4 trading platform. In addition to a multilingual client support team, traders also benefit from educational resources and trading tools.
Regulation
Zenfinex Limited is a company registered in England and Wales under registered number: 11077380. The firm is regulated and authorized by the Financial Conduct Authority (FCA) under firm reference number [FRN]: 816055.
The information on the broker’s website is not directed at residents of the United States or any particular country outside the UK and is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Platforms
Zenfinex provides traders with multiple cutting-edge platforms to cater to the need of every individual trader. They include the following:
MetaTrader 4
This is one of the most popular and robust trading platforms within the industry; it 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.
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.
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.
Zenfinex Platforms
Tools
There are no standalone trading tools on the broker’s website presently.
Education
The broker’s website has an FAQ section that is designed to offer a quick and knowledgeable answer to some of the most common questions traders may have.
Markets
Zenfinex offers the following trading instruments: forex, indices, metals, stocks, energies, and commodities.
Accounts
Zenfinex offers multiple live trading account options to suit the trading needs of clients. They have different required minimum deposits as follows: Mini ($50), Standard ($5,000), and Pro ($25,000) Accounts. 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.
Support
The broker’s customer support team is available 24/5 to interact with traders via telephone, Live Chat, support ticket, email, and social media.
Funding
Traders are allowed to deposit and withdraw funds to and from their trading accounts using any of the following payment methods:
- Bank wire transfer
- Credit /Debit card
- ACH
- Paper cheque
Zenfinex Deposit & Withdrawal Methods
Signup
There is a ‘Live Trading’ button on the broker’s website. Prospective traders are required to click on the button, fill the displayed form, and then submit.
Zenfinex Account Opening Page
Compare
| Broker Features | AvaTrade | IG | IC Markets | |
|---|---|---|---|---|
| Founded | 2006 | 1974 | 2007 | |
| Regulated | ASIC, BVI, CBI, FFAJ, JFSA, FSCA, IIROC, ADGM FRSA | FCA, CFTC, NFA, BaFin, FINMA, ASIC, FMA, MAS, FSA, FSCA, DFSA, JFSA, METI, MAFF | ASIC, CySEC, FSA, SCB | |
| Country | Australia, Ireland, South Africa, Japan, British Virgin Islands | Australia, UK, USA, Switzerland, UAE, Singapore, Japan | Australia, Seychelles, Bahamas, Cyprus | |
| Min. Deposit | Min $250 Deposit | Min $100 Deposit | Min $200 Deposit | |
| Commission | From $0 | From $0 | From $0 | |
| Spreads | Fixed | Variable | Variable | |
| Leverage | 1:400 | 1:200 | 1:500 | |
| Instruments | Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, Options, Bonds, CFDs, ETFs | Forex, Commodities, Stocks, Shares, Indices, Cryptocurrencies, Metals, Energies, Options, Bonds, ETFs, CFDs | Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, Bonds, CFDs | |
| Platforms | MetaTrader 4, MetaTrader 5, AvaTradeGO, AvaOptions, AvaSocial, DupliTrade, ZuluTrade, Web, Mobile | MetaTrader 4, IG Platform, IG Progressive Web App, ProRealTime (PRT), L2 Dealer, FIX API, Web, Mobile | MetaTrader 4, MetaTrader 5, cTrader, Web, Mobile | |
| Type | Market Maker, STP | STP, ECN, DMA | ECN | |
| Funding | Wire Transfer, Credit/Debit Card, Paypal, WebMoney, Neteller, Skrill | Wire Transfer, Credit/Debit Cards, PayPal | Wire Transfer, Credit Card, Debit Card, WebMoney, Neteller, PayPal, Skrill, FasaPay, UnionPay, Qiwi, Bpay, Poli | |
| Visit Broker | Visit Broker | Visit Broker | Visit Broker |
Conclusion
Zenfinex is a regulated trading broker that provides the trader with multiple intuitive platforms for trading a range of financial instruments online. There are multiple account options to suit all types of traders.
Min $50 Deposit
Zenfinex is a UK retail & institutional brokerage firm that provides traders with sophisticated trading platforms, including the MT4 platform, for trading financial products, including Forex, Indices, Metals, Stocks, Energies & Commodities.
About the Author
Rana Adnan
I am an introverted long-distance runner and a Forex trader with more than 7 years of experience. Reminiscences of a stock operator was the first book that changed the whole concept of trading for me.
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