Zenfinex Review 2023

2.5
/ 5
Zenfinex is #109 in our CFD broker rankings.

Zenfinex is a UK-headquartered broker offering social trading, low fees and MT4.


Trusted

Demo Account

Copy Trading

MetaTrader 4
$50
MT4, MT5
Forex, CFDs, indices, commodities
-
Wire Transfer, Credit Card, Neteller, Mastercard, Visa
and 2 more

Forex Trading

Ultra competitive spreads are available on forex pairs at Zenfinex.

Stocks Trading

Zenfinex offers online trading in some of the world's foremost stock indices, including the S&P and FTSE.

CFD Trading

Leveraged contracts for difference are available on multiple financial markets.

Crypto Trading

Not Available

Copy Trading

Zenfinex offers social copy trading through the interactive iOS and Android ZenConnect mobile app. Investors can buy and sell on the financial markets using the tips and positions of other traders.

This review examines Zenfinex, a London-based forex, metals, commodities and indices brokerage. With ultra-low spreads, social trading and MT4 analysis tools, the broker has a lot to offer. We break down the MT4 platform, its product range and more, to help you decide whether to open a live account with Zenfinex.

Zenfinex Details

Zenfinex is a globally recognised brokerage headquartered in Mayfair, London. Nick Cooke founded the company in 2017 which is regulated by the FCA. The client base has grown rapidly, now spanning Europe, Asia, Australasia, South America and Africa.

The FX and CFD provider’s ethos is to be a brokerage for traders, by traders – “Our aim is to deliver an optimal trading environment that gives traders the best opportunity to succeed.”

Trading Platforms

MetaTrader 4

Widely regarded as the leading forex trading platform, MT4 is accessible to traders of varying proficiency. With over 15 years of experience and millions of clients, MT4’s reputation is grounded on key features which include:

Zenfinex trading platform
Zenfinex MetaTrader 4

FIX API

FIX is a messaging standard used globally, aimed at connecting market participants. The solution makes high-frequency strategies possible, with real-time global trades. The terminal offers:

Zenfinex FIX API trading
Zenfinex FIX API platform

Markets

A wide range of instruments are offered by Zenfinex:

It is worth noting that compared to major competitors, there isn’t a huge number of instruments to trade with.

Spreads & Commission

Zenfinex offers reasonable trading fees which vary between accounts. All fees are built into spreads on the Standard account, meaning no extra commission costs. The Pro option offers competitive spreads with $8/€7/£6 commission per lot. Finally, VIP boasts competitive spreads with a commission of $6/€5/£4.5 per lot.

Typical spreads across major FX pairs:

Typical spreads across indices:

Zenfinex Leverage

As an FCA-regulated brokerage, leverage is capped at 1:30. Rates vary across accounts and outside Europe the maximum leverage rises to 1:400.

Mobile Trading

A fully functioning ZenConnect app is available on Apple and Android devices. The application is easy to navigate, enabling the user to socialise and to copy trades effortlessly. Registration is simple and the app itself is suitable for traders of varying skill levels. The Zenfinex team also check-in to ensure you are comfortable, advising you depending on your trading ability.

Zenfinex mobile trading app
Zenfinex app

This app is a social trading terminal, combining the MT4 platform with Zenfinex’s own Straight Through Processing (STP) execution model. We tested the application, which was well designed, had a fast login process and was simple to use.

Key features include:

Deposits & Withdrawals

There are several means of payment that can be found on the Zenfinex website. There are no fees for making deposits and the minimum payment is $50.

Deposits can be made via the following options:

Withdrawals can be made via the myZen client portal. There is no fee for debit and credit cards but there may be an additional cost for bank transfer/wires. Withdrawal speeds vary, with requests processed within 1-2 days. It can take several days to make it back to your bank account and up to five for international transfers. The withdrawal options are as follows:

Demo Account Review

Zenfinex offers a demo account that comes with a $10,000 virtual opening balance. This simulates real market conditions and can be used on all platforms, including the ZenConnect app. Coupled with the range of educational features, this is a perfect tool to practice trading and trial strategies with zero risk.

Zenfinex Bonuses

There are currently no bonuses in action on the Zenfinex website. That said, they have been known to run promotional deals, including zero commission schemes. Check their website for upcoming offers and terms and conditions.

Regulation

Zenfinex Limited holds a license with the FCA and Zenfinex Global is registered with the SVGFSA. The Financial Conduct Authority is widely regarded as one of the more stringent financial regulators. This is a good indicator that they are committed to keeping client money safe and not manipulating market prices.

Other features include account segregation. This means client accounts are kept separate from Zenfinex’s operating capital. External and internal auditors regularly review and monitor activity. As an FCA regulated organisation, client funds are also protected by the FSCS. This protects capital up to £85,000.

Additional Features

Zenfinex has a solid educational presence. The company has partnered with Everything Trading. They offer a free, 37 lesson, beginners forex course as part of the partnership. Further to this, three advanced courses can be accessed once you start live trading.

A second partnership with KenFXFreak was recently initiated, offering admittance to a community of traders, courses, webinars and more. A content schedule is available on the Zenfinex website to keep you informed.

Multiple items are published on their website every week, incorporating breaking news and regular market analysis. These include articles from the broker’s sales support executive, Connor Woods, Ken Chigbo and MacroZen. Other areas include practical tutorials, assisting the user in navigating their services.

Trading Accounts

There are three account levels that cater to traders of all levels and requirements. All accounts open with access to 50+ forex pairs, indices and commodities:

Benefits

Drawbacks

Trading Hours

Zenfinex operates during standard market hours. The broker’s website provides detailed trading hours for each instrument.

Customer Support

Customer support is a strength of Zenfinex. A follow up came shortly after downloading the ZenConnect app, offering technical support and advice based on trading experience. Educational resources were sent via email soon after the call.

The support team is available 24/5 via telephone, email and live chat. The live chat can be found on the Zenfinex website. The staff are multilingual and can take care of issues in real-time. Alternatively, a support ticket can be left outside of hours.

It’s also worth checking the FAQ section on the company website as they comprehensively cover a broad range of issues.

Security

We are confident Zenfinex is a trustworthy broker. Full website terms and conditions are available on the legal documents area of the website. These include a detailed privacy policy, cookie policy and more. Strict regulatory oversight and transparency protect the client. The MetaTrader 4 platform also offers industry-standard login protocols.

Zenfinex Verdict

Despite Zenfinex’s fairly recent establishment, they are a fast-growing company. Operating with a solid variety of tools to trade, the firm is quickly becoming a reputable brokerage. Varying account types make it possible to trade regardless of the client’s ability, from beginner through to expert traders. Educational resources and social trading reinforce their ethos as a company for traders by traders.

Accepted Countries

Zenfinex accepts traders from Australia, Thailand, Canada, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.

Traders can not use Zenfinex from United States.

Payment Methods

Zenfinex Details

Minimum Trade 0.01 lots
Regulated By FCA, SVGFSA
Islamic Account No
Mobile Apps Yes
Margin Trading No
Volatility Index No
Spot Trading No
Perpetual Swaps No
ELWs No
REITs No
AI / Machine Learning No
Robo Advisor No
P2P Trading No
Negative Balance Protection No
VPS Hosting No
Tournaments No
Demo Competitions No
Managed Accounts No
Market Maker No
Auto Trading Yes
Social Trading Yes
Trade Signals Yes
Guaranteed Stop Loss No
Commodities
  • Gold
  • Silver

CFD Trading Details

FTSE Spread 2.0
GBPUSD Spread 0.3
Oil Spread 0.05
Stocks Spread N/A
Leverage 1:30 UK, 1:400

Forex Trading Details

GBPUSD Spread 0.3
EURUSD Spread 0.1
EURGBP Spread 0.3
Assets 50+

Compare Zenfinex

Compare Zenfinex with similar brokers that accept traders from your location. Among available brokers these are the most similar to Zenfinex:

  1. OANDA – OANDA is a popular brand offering exceptional execution, low deposit requirements and advanced charting and trading platform features. The top-rated brand has over 25 years of experience and is authorized by leading regulators, including the CFTC/NFA. Around the clock support is available, alongside flexible contract sizes and automated trade executions.
    Go to OANDA
  2. Webull – Webull is a US-regulated trading app that offers stocks, options, forex, cryptos, ETFs, fractional shares and more. The firm is authorized by the SEC and FINRA with a strong trust rating. Low fees, no minimum investment and generous bonuses have made the discount broker popular with online investors.
    Go to Webull
  3. Forex.com – Forex.com boasts a global reputation with multiple awards and 20+ years experience. Regulated in the US, EU, UK and Canada they offer a huge range of markets, not just forex, and offer competitive fees on a cutting-edge platform. The brand also provides a suite of additional tools, from performance analytics and SMART Signals to advanced charts and strategy builders.
    Go to Forex.com

Zenfinex Comparison Table

Compare Zenfinex With Similar Brokers
Zenfinex OANDA Webull Forex.com
Rating 2.5 4.5 4.4 4.5
Markets Forex, CFDs, indices, commodities Forex Stocks, ETFs, options, cryptos, forex, ADRs, fractional shares, OTCs Forex, CFDs, Stocks, Indices, Commodities, Cryptos, Futures, Options
Demo Account Yes Yes Yes Yes
Minimum Deposit $50 $0 $0 $100
Minimum Trade 0.01 lots $0 $5 $1
Regulators FCA, SVGFSA CFTC, NFA SEC, FINRA CySEC, IIROC, NFA, CFTC, FCA, CIMA, CIRO
Bonus $5,000 welcome bonus with a deposit of $500 Six free stocks
Education No Yes Yes Yes
Platforms MT4, MT5 MT4, TradingView, AutoChartist MT4, MT5, TradingView, AutoChartist, TradingCentral
Leverage 1:30 UK, 1:400 1:30 EU, 1:200 Global 1:200
Payment Methods 7 12 3 8
Visit Visit Visit Visit
Review Zenfinex
Review
OANDA
Review
Webull
Review
Forex.com
Review

Compare Trading Instruments

Compare the markets and instruments offered by Zenfinex and its competitors. Please note, some markets may only be available via CFDs or other derivatives.

Compare Zenfinex Trading Instruments
Zenfinex OANDA Webull Forex.com
CFD Yes No No Yes
Forex Yes Yes Yes Yes
Stocks Yes Yes Yes Yes
Commodities Yes Yes No Yes
Oil No No No Yes
Gold Yes Yes No Yes
Copper No Yes No No
Silver Yes Yes No Yes
Corn No Yes No No
Crypto No Yes Yes Yes
Futures No No No Yes
Options No No Yes Yes
ETFs No No Yes No
Bonds No Yes No No
Warrants No No No No
Spreadbetting No No No No
Volatility Index No No No No

Zenfinex vs Other Brokers

Compare Zenfinex with any other broker by selecting the other broker below.

Zenfinex vs

FAQ

Where is Zenfinex regulated?

Zenfinex Limited is a UK registered company, regulated by the Financial Conduct Authority. Zenfinex Global is registered with the Financial Services Authority in Saint Vincent and the Grenadines.

Does Zenfinex offer a demo account?

A demo account is available with Zenfinex, an opportunity to practice trading in real-life conditions on the ZenConnect app and MT4 platforms. The account is simple to open and comes with a $10,000 opening balance.

How much capital do I need to trade with this broker?

The minimum deposit at Zenfinex is $50/£50/€50. Low deposit options make the broker accessible for traders of all abilities.

Does Zenfinex offer mobile trading?

Zenfinex does offer mobile trading, via the MetaTrader terminal and the ZenConnect platform. ZenConnect is a well-designed social trading app, combining the Zenfinex STP model and MetaTrader 4.

Is Zenfinex a good broker?

Zenfinex is a solid up-and-coming company. The brokerage boasts competitive fees, well-functioning platforms and is regulated by the FCA, a leading financial regulator.

Visit
Zenfinex is a UK-headquartered broker offering social trading, low fees and MT4.