ZarFX Review

MIN. DEPOSIT $500
Up to 300:1
Up to 100% BONUS
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ZarFX
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Overview

Company Information Zar FX is one of the names in the online brokerage industry. The company owning the brand Zar FX Ltd. was founded in 2013, but they launched their… more

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Details

BrokerZarFX
Website URLhttps://zarforex.com/
HeadquartersBritish Virgin Islands
Support Number+44-203-868-4074
Support Emailsupport@zarforex.com
Support TypesPhone, Live Chat, E-mail
LanguagesEnglish, Spanish, Arabic, Japanese, Russian
Minimum 1st Deposit$500
Minimum Trade Amount0.01 lots
BonusUp to 100%
PayoutUp to 300:1
Free Demo AccountYes
Account TypesStandard, Institutional, Islamic
Deposit MethodsVisa, Visa Electron, MasterCard, WebMoney, Yandex, Qiwi, cashU, PerfectMoney, Wire Transfer, OKPay, FasaPay, Neteller
Withdrawal MethodsVisa, MasterCard, Neteller, Wire Transfer, OKPay, WebMoney
Types of AssetsForex, CFDs, Stocks, Indices, Precious Metals, Energy
Account CurrencyUSD, EUR
US Traders Allowed No
Mobile Trading Yes
Tablet Trading Yes

Full Review

Company Information

Zar FX is one of the names in the online brokerage industry. The company owning the brand Zar FX Ltd. was founded in 2013, but they launched their online service was launched in 2014. The company’s headquarters are located in Tortola, the British Virgin Islands, but it also has offices in Malaysia, the UK, Bulgaria, and Uzbekistan. As a brokerage with a relatively short history, Zar FX looks to acquire new customers by offering great promotions and superb trading conditions. With great customer support and a great platform this inexperienced broker has a lot to offer to beginner and expert traders. With incredible order execution speeds, this broker can offer a lot more than some of their competitors. The spreads they offer are very competitive, and the trading features include everything that a modern trader needs. You might want to check on this brokerage if you’re looking for transparent trading policy and excellent trading experience. However, you ought to know that this broker has not acquired a license by any financial authority. The rumors are that they’re currently trying to get licensed by CySEC, but nothing is confirmed.

 

Trading Information

 

Currently, there are two types of accounts you can choose from at Zar FX. The first one is the “Standard” account that has a low deposit requirement of $500. This account is suitable for both beginner and experienced traders and offers a lot of trading features and instruments. The spread type is variable and can go as low as 1.1 pips for majors like EUR/USD. The typical spread for this account is 1.3 pips for EUR/USD. Scalping and hedging are allowed, and the maximum leverage is set to 1:300. The currency pairs offered are 70 (20 of which are exotic) the digits after the dot is 5. Expert advisors are allowed as well as, trailing stop order, pending orders, one-click trading, and automated trading. A swap free version of the account is also available. The next account is for institutional clients or highly professional traders and is called (as you have guessed) the “Institutional account. This account offers all the trading conditions and features that a serious trader needs. The minimum deposit requirement is $10 000. The spreads are variable again, but can be as low as 0.1 pips for majors. The leverage here can go to up to 1:200 and the minimum lot size is set to 0.01 lots. Stop out level is at 30% and the commission rate is $4 per lot for raw spreads.

 

Trading Platforms

 

The trading platform of choice for Zar FX is the trusty and reliable Mettrader4. The platform is so popular that more than 70% of online brokers use it. It has won many awards and has proven to be the most stable throughout the years. It has excellent multi-lingual support and a ton of features that traders can take advantage of in their daily trading. The Metatrader4 (MT4) has over 30 indicators and support to over 250 trading instruments. What’s best about it is that it’s suitable for every computer and mobile device. It works win Windows and Mac desktop and notebook devices. Also, it supports Android and Apple cell phones and tablets. It doesn’t have many bugs and is perfect for beginner traders. While it’s easy to use by newbies, it offers a lot of features that many expert traders need. It has excellent charting capabilities, and you can trade directly from them. The highly customizable interface that it offers is superb for people that look to create their trading environment. The best thing about is that it has a WebTrader platform that doesn’t require any additional downloads. You just need one of the modern browsers and internet connection.

 

Security and Customer Services

 

Zar FX is one of the most secure platforms online. Despite the fact that it doesn’t’ have a license the people from the company have made their best to ensure a safe trading experience to their clients. The implemented SSL protocol protects your personal data from theft and makes it practically invulnerable to theft attempts. The customer support is also at a top level. There are plenty of ways to contact the customer support. There are several phone numbers you can call, a couple of different email for each question you might have and a live chat support system if you want to talk to a representative right away. A postal address is available for people who look for the offices in different countries. There are also social media profiles you can find on Facebook and Twitter. The website is translated into five languages which are not anywhere near the industry standard but is still good enough. The educational materials need a bit of work because there is rarely any information about trading on their website. A beginner trader would struggle to find the needed information and might need to look elsewhere to get it.

 

Deposits and Withdraws

 

To fund your Zar FX account, you can use one of the 12 deposit methods available. Transferring money into your account is made easy, and it doesn’t take a lot of time. Deposit processing times average a time frame of 24 hours and are usually instant. The company has made their best effort to make the deposit transaction simple and even don’t require a deposit fee like many of their competitors. The minimum deposit requirement for every method is $500. The withdrawal options are much less than the deposit ones. The major ones are still there, but many are missing. The minimum withdrawal amounts differ depending on the method you choose. They go from $50 to $400 for Bank Wire. The maximum withdrawal amounts also depend on the method you have chosen. They could be from $5000 to the amount you invested. Processing times go from instant to 5-8 business days for the slowest methods. Unlike the deposit here you have certain fees for some of the banking methods. They depend on your location or the methods you use.

 

Deposit Bonus and Loyalty Programs

 

The first promotion that Zar FX offers is the astonishing 100% up to $25 000 first deposit bonus. There is a ton of requirements for this bonus, but you can learn all about on their website.

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