Z.com Forex is a Hong Kong-based broker that offers trading on 16 popular currency pairs through its web-based platform and mobile app. This article gives a comprehensive analysis of Z.com Forex to better compare and navigate this broker you should first understand Forex brokerage.

Understanding Forex brokerage

A forex broker acts as a bridge between individual traders and the forex market, enabling traders to buy and sell currencies. They offer market access, trading platforms, trade execution, leverage and various trading tools and resources.

There are different types of forex brokers, each with unique trading conditions and services:

• Market Maker Brokers: Also known as dealing desk brokers, they act as counterparties to their clients’ trades by taking the opposite side. They earn through spreads and may have a conflict of interest since their profits can be influenced by their clients’ losses.
• ECN Brokers: Electronic communication Network (ECN) brokers connect traders directly to the forex market by matching buy and sell orders from various participants. They charge a commission per trade and provide access to the interbank market, leading to tighter spreads and potentially better execution.
• STP Brokers: Straight Through Processing (STP) brokers, like ECN brokers, offer direct market access. However, they do not charge commissions but earn through spreads. They route clients’ orders directly to liquidity providers, avoiding any conflict of interest.

Assets & Markets

Z.com Forex offers a limited asset list, featuring only 16 currency pairs and excluding stocks, commodities, and cryptocurrencies. This limitation is a notable drawback compared to other brokers. However, popular pairs like GBP/USD, AUD/JPY, USD/CHF, and EUR/GBP are available. The minimum contract size is set at 10,000 units (1 lot).

Spreads & Fees:

Z.com Forex maintains a simple and transparent pricing model. The broker does not impose commission fees, and spreads are fixed, though they can fluctuate during periods of high market volatility. During our use, we observed spreads of 1 pip for USD/JPY, 1.6 pips for GBP/USD, and 2 pips for GBP/JPY. Additionally, rollover charges apply for positions held overnight.

Leverage

Z.com Forex offers a maximum leverage of 1:20, meaning you can trade $2,000 for every $100 deposited. This leverage is relatively low compared to EU-regulated brokers, which can offer up to 1:30 for major currency pairs. A maintenance margin call occurs if the margin ratio drops below 60%, and trades are automatically closed if it falls below 30%.

Z.com Forex Accounts

There is only one type of live account available at Z.com Forex, so trading conditions remain the same regardless of deposit size. This means no reduced fees or enhanced tools for larger deposits. New customers must make an initial deposit of HKD $10,000 (around USD $1,200).

How To Register For An Account

To open a real account on the Z.com Forex website, select ‘Open Real Account’ from the dropdown menu. This initiates a detailed application process that requires verification through a cheque or a bank wire transfer of HKD $10,000.

To start with a bank wire transfer:

1. Fill out the online application and click ‘Next Step’.
2. You will receive a link via email to upload your identity verification documents and proof of residency.
3. Complete the bank wire transfer and email proof of payment to [email protected]. Account details will be sent to your registered email.

New account applications are processed within two to four business days. User IDs will be mailed, and the default password will be sent to your registered email.

Payment Methods

Deposits

Z.com Forex only accepts deposits in Hong Kong Dollars (HKD), which can be inconvenient for global traders. Most payment methods cater to Chinese and Hong Kong traders, but the Faster Payment System (FPS) is available through any bank. Deposit requests made before 4pm, Monday to Friday, are processed the same day, with no maximum deposit limits.

How To Make A Deposit

1. Initiate an FPS transfer through your online banking by entering the Z.com Forex FPS ID number, 162724629.
2. The payment should arrive within hours.
3. Provide proof of deposit within 10 days of making the payment.

Withdrawals

Withdrawals at Z.com Forex are processed in HKD only. Requests made before 4pm, Monday to Friday, are processed the same day, though transfer times may vary. You can make one request per day, with no minimum withdrawal limit.

How To Make a Withdrawal

1. Log in to the platform and go to ‘Account’, then ‘Balance & Transfer’, and select ‘Withdrawal Request’.
2. Enter the amount to withdraw and click ‘Confirm’.

Demo Account:

Z.com Forex offers a free demo account for practicing with virtual funds. New users can access it for 30 days, after which they need to sign up again. The demo account can be loaded with up to HKD $1,000,000 in virtual funds. Trading conditions, including pricing and rollover rates, mirror those of live accounts, but no margin call will be issued.

How To Open a Demo Account

1. Select the ‘Open Account’ icon from the top right of the broker’s homepage
2. Choose ‘Try Free Demo’ from the dropdown menu
3. Complete the online application page and choose the virtual balance
4. Select ‘Confirm’
5. User credentials will be sent to the registered email address
6. Follow the link in the email to log in and start demo trading

Trading Platform

Z.com Forex exclusively supports its proprietary platform, Z.com Trader Web. This browser-based platform works with all major internet browsers but isn’t available as an app.

Platform Features:

• Ease of Use: Ideal for beginners with its simple navigation.
• Key Features: One-click trading, real-time price quotes, interactive charts, and integrated live news.
• Charting: View charts across 12 timeframes, from one minute to one month, with up to 10 order panels open simultaneously.

However, the platform may feel basic to experienced traders due to its limited technical indicators and analysis tools, making it less suitable for active traders.

Accepted Order Types:

• Stop
• Limit
• If done
• Market
• One-click
• One cancels the other
• If done-one cancels the other

Order Expiry Types:

• Day
• Good-till-date
• Good-till-Friday
• Good-till-cancelled

How To Place a Trade

Z.com Forex App:

To open a new position easily, use the one-click trading function. Select the currency pair from the dropdown panel at the top left of the terminal, enter the number of lots, and click ‘Buy’ or ‘Sell’. Your open positions will appear in the bottom-right corner.

Z.com offers a bespoke mobile application available for free on iOS and Android (APK) devices. The app includes all the features of the web-based terminal, such as one-click trading, live news streams, and interactive charts. It is user-friendly, allowing easy navigation between accounts, graphs, and live FX rates. The app is optimized for smaller screens with zoom, scroll, and minimization features on charts. Additionally, it has a custom alert feature that provides real-time notifications of price changes and upcoming market events or company announcements.

Bonuses & Promotions

Z.com Forex excels in offering bonus rewards and financial incentives for both new and existing customers. During our experience, we received a HKD $200 bonus for opening a new live account, followed by a volume-based bonus of up to HKD $10,000.

Regulation & License: Z.com Forex is a subsidiary of GMO Financial Holdings, affiliated with GMO CLICK Securities INC. GMO Financial Holdings has been listed on the Tokyo Stock Exchange since 2015. The broker is authorized and regulated by the Hong Kong Securities and Futures Commission (firm registration number AZE792), and its financial reports are regularly audited by Deloitte Touche Tohmatsu. However, it is unclear if global traders receive the same protections as Hong Kong residents, and there is no mention of negative balance protection or segregated client funds.

Additional Features: Z.com Forex provides basic educational resources, including a glossary of key terms and a beginner’s guide to forex trading. However, much of the content is available only in Chinese, including the broker’s YouTube channel, which may not be ideal for global traders. The website also offers an economic calendar, calculators, and step-by-step user guides.

Super Chart: A unique feature for Z.com Forex customers is the Super Chart tool, which offers a comprehensive suite of analytical charts to aid investment decisions. Features include:

• In-built economic calendar
• Live news announcements
• Display up to 16 charts in a single interface
• 26 integrated drawing tools (e.g., Fibonacci lines, Gann lines)
• 37 popular technical indicators (e.g., MACD, Bollinger Bands, RSI)
• 6 chart types (line, bar, candlestick, point & figure, dot, Heikin-Ashi)

Customer Support: Customer service is available 24/5, but there are no international contact options like local telephone numbers. Contact methods include telephone, email, postal address, and online enquiry forms. Unfortunately, there is no live chat function, but the FAQ section on the broker’s website is comprehensive, covering topics such as account opening, deposits and withdrawals, system requirements, and margin trading.

• Fax: (852) 3923 8099
• Email: [email protected]
• Telephone: (852) 3923 8088
• Online Enquiry Form: Available on the ‘Contact Us’ webpage
• Address: Suites 2308–09, 23/F, Tower 1, The Gateway, Harbour City, Kowloon, Hong Kong

Security & Safety

Z.com Forex employs 256-bit SSL data encryption and two-factor authentication for security. New registrations require a stringent application process with identity verification.

Company Details: Founded in 2011 as a subsidiary of GMO Financial Holdings Inc., Z.com Forex operates from its head office in Harbour City, Hong Kong, and serves over 900,000 clients worldwide. It was the first GMO Financial Holdings entity to offer services outside Asia. Other brands under GMO include FX Prime by GMO Corporation and GMO-Z.com Trade UK Limited. The broker uses a straight-through-processing (STP) model, sourcing pricing from top-tier liquidity providers. It has also won the ‘Outstanding Brand Awards’ from Economic Digest for the past 10 years.

Trading Hours: Z.com Forex operates 24 hours a day, Monday to Friday. The trading platform is available from 6am Monday to 6am Saturday, HKT (GMT -8). The forex market has three main trading sessions: London, Tokyo, and New York, with specific currency pair opening and closing times reflected in the trading terminal.

Z.com Forex Verdict: Z.com Forex offers basic forex trading features but has a limited list of currency pairs, lower leverage than many competitors, and a proprietary trading platform that lacks advanced tools. Additionally, global traders might find the brand’s content and payment methods too focused on China. Overall, Z.com Forex is best suited for traders from China and Hong Kong.

Is there anything else you’d like to know or discuss about Z.com Forex ask our experts or sign-up for master classes for upgrade.