Z.com Trade Review

Z.com Trade Review

Forex, Metals, Energies, Cryptocurrencies & Indices

  • FCA regulated ✔
  • Servers at Equinix LD4
  • Cryptocurrency MT4 trading
  • ECN Spreads from 0
  • MT4 broker
  • 75+ markets
Variable spread MT4 ECN Trading • Cryptocurrency CFD MT4 trading • Z.com Trade

Z.com Trade Review

Z.com Trade is a no dealing desk STP broker regulated by the FCA in the United Kingdom, offering variable spread ECN trading, with or without a commission charge. It does not charge commissions for its Classic Account but does for its ECN Accounts, provides the MT4 platform, offers 75+ products to trade and has no trading restrictions. Z.com Trade says that it holds clients funds in segregated accounts at top tier UK banks. Z.com Trade's servers are hosted at Equinix's LD4 data center, located in London, for high speed order transmission.

Key Features

  • There are three retail trader account types: Classic, ECN and ECN Plus
  • 5 Cryptocurrency CFDs are available
  • Micro lot trading is available for all account types
  • Z.com Trade uses an STP NDD execution model
  • All its accounts are Market Execution
  • All accounts, including the Classic account, use servers hosted at Equinix's LD4 data center

Very briefly, what does Z.com Trade do ?

Z.com Trade offers MT4 ECN trading using servers located at Equinix's LD4 data center for high speed order execution, offering trading with or without a commission charge. All its accounts use Equinix LD4.

What is the point of the Classic account ?

This is for traders who do not want to trade with a commission charge. The full cost is included in the spread, which means spreads are higher compared with the ECN accounts, as these also add a commission charge to the spread.

Cryptocurrency CFDs

Bitcoin, Ethereum, Litecoin, Ripple and Bitcoin Cash CFDs are available to trade on all account types. When trading a CFD, the trader does not own the cryptocurrency, rather speculates on its price movement. This means that they do not need a wallet or other means to store it and can go long or short. Z.com Trade.

Account currencies

Accounts are available in GBP, USD and EUR.

Account types

There are three retail account types and one Professional account. The retail accounts are the Classic Account, the ECN Account and the ECN Plus account. The Classic account does not charge commissions, the ECN and ECN Plus Accounts do charge commissions. The ECN Plus account has a much higher minimum deposit requirement than the Classic and ECN account, but has a lower commission charge. To open a Professional account which is not a retail account and can offer leverage up to 200:1 (versus 30:1 for retail accounts), the trader needs to first open an ECN account and then apply.

Minimum deposit

The minimum deposit depends on the account type. The Classic and ECN Accounts have a minimum deposit of $/€/£50. The ECN Plus Account and the Professional Account has a minimum deposit of $/€/£10,000 or a volume requirement of 100M per month.

Account features

Z.com Trade offers an 'Educational and Analytical Portal', available on its Client Portal. This provides trading strategies and signals, educational courses, the capacity to chat with an analyst, a technical and fundamental analysis feed, market analysis and news updates.

Trading styles

There are no restrictions on trading styles. Scalping, EAs and news trading are allowed.

Platforms

The MT4 platform is available on desktop, tablet and mobile. This provides support for automated trading with Expert Advisors and other tools and resources.

FIX API

Traders who wish to use their own front-end can plug directly into Z.com Traders servers hosted at Equinix's LD4 data center, using a FIX 4.4 API.

Commission charge

  • Z.com Trade does not charge commissions on its Classic account.
  • Z.com Trade charges commission of $4 per lot per side on its ECN Account, and $2.5 per lot per side on its ECN Plus Account.

Maximum order size

  • For all accounts the maximum order size is $5M or 50 standard lots for FX, Gold and Silver and 100 standard lots for other products.

Minimum trade size

For all accounts types, the minimum trade size is 0.01 lots (micro lots).

Order types

Order types available are: Market Order, Limit Order, Stop Order, Stop Loss Order, One-Click Order and Trailing Stop, with Good-Till-Date and Good-Till-Cancelled order expiry types.

Markets

Markets available are Forex pairs, Indices, Energy, Precious Metals and Cryptocurrencies, with 75+ available.

Trading conditions

Z.com Trade says that it uses Straight Through Processing (STP). It says this means that orders are executed without intervention, and sent to a deep liquidity pool. Z.com Trade allows hedging.

Spreads and leverage

  • On Z.com Trade's Classic account, spreads are variable from 1.0 for EUR/USD.
  • On Z.com Trade's ECN accounts, spreads are variable, with a typical spread of 0.1 for EUR/USD, 1.5 for UK100, 0.09 for Gold and 0.03 for US Crude Oil.

The maximum leverage is for retail trader accounts.

Funding

Deposit methods include Credit/Debit cards, PayPal, Neteller, Wire Transfer, Boleto, Giropay, iDeal, Moneta, POLi, Przelewy24, QIWI, Skrill, Sofort, Trustly, WebMoney and YandexMoney. Z.com Trade does not charge for deposits, Z.com Trade does apply withdrawal fees for some funding methods.

Regulation

GMO-Z.com Trade UK Limited is part of the GMO CLICK Group, and is authorised and regulated in the UK by the Financial Conduct Authority, firm reference number 622897. GMO-Z.com Trade UK Limited is a company registered in England and Wales, company number 8261027, and its registered address and principal place of business is Becket House, 36 Old Jewry, London, EC2R 8DD.

Summary

This is an STP ECN broker, offering variable spreads. Its spreads come either with or without a commission charge. Commissions are charged on its ECN accounts and not on its Classic account. Its ECN Plus account has a higher minimum deposit and offers a lower commission charge.

Why might someone choose this broker ?

This is a broker which provides support for automated trading, where the trader trades using automated trading strategies. It does this by offering MT4 (which has automated trading strategies called Expert Advisors), FIX API and by providing ECN trading conditions, including infrastructure such as servers hosted at Equinix's LD4 data center.

Discretionary traders, who make their own trading decisions can use MT4 as well. For traders who wish to trade without a commission charge (and pay higher spreads) and use servers located at Equinix LD4 and MT4, it offers a Classic account. Z.com Trade provides MT4 Cryptocurrency trading. It has a relatively low minimum deposit, but for those who wish to deposit more, can offer an account with lower commission charges, compared with its ECN account.

Pluses and minuses

  • Z.com Trade is FCA regulated
  • This broker offers variable spreads without a commission charge on its Classic account
  • This broker does offer a competitive number of products for an ECN broker
  • Z.com Trade offers Cryptocurrency CFD trading on all its account types
  • It provides ECN spreads from 0, plus a commission charge
  • The commission charge is lower for its ECN Plus Account
  • Z.com Trade offers MT4
  • It uses servers hosted at Equinix's LD4 data center for all accounts
  • Z.com is a no dealing desk intervention broker
  • Z.com Trade is FCA regulated

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