Z.com Trade Review
- Direct market access for ECN accounts
- Tight spreads for all account types
- Access to research and analytics portal
- No dedicated trading platform for certain jurisdictions
Z.com Trade are a FCA regulated provider of online forex and CFD trading; they are the global facing brand for GMO CLICK, a Japan headquartered subsidiary of GMO Internet that specialises in online trading. Established in 2005, this company is part of the GMO Financial Group who are listed on the Tokyo Stock Exchange (JASDAQ: 7177) and have over 4 billion in operational capital. GMO Click (another subsidiary) is considered to have the largest retail forex trading volumes in the world and currently serves well over 500,000 clients.
Z.com Trade currently offer over 80 tradable instruments across multiple asset types including forex, commodities and indices. At the time of writing, the broker does not yet offer cryptocurrency to trade for global customers - but these are available for Japanese investors. Their mission statement is to offer investors a seamless trading experience using best in breed technology and world class liquidity.
With all of this in mind, there’s serious potential for this broker to offer an unparalleled trading experience - but do they deliver? In our Z.com Trade review, we take a look at the site and their platform offering to find out if you should trade here.
Spreads and Fees
You will find three accounts are offered for new traders, each one catering to various experience levels. The most basic account is the Classic Account; this account features no interest, a low minimum deposit to start and a max leverage of 1:200. 40 tradable products are available to invest and you can choose either a fixed spread or a floating spread structure. Next we have the ECN Account and this one is marketed towards the more experienced trading experience. This account gets access to even tighter spreads, more tradable assets and all for the same low deposit as the basic account. This account also comes with a max leverage of 200:1.
And finally, we have the ECN Pro Account - the account designed for high volume traders who want to to benefit from the lowest spreads possible. Both of the ECN accounts can trade with competitive spreads as low as 0.2 pips. Like the previous ECN account, you can trade with up to 200:1 leverage. Another advantage to both of these accounts is that you get direct market access, meaning you get prices direct from liquidity providers. What’s particularly positive about choosing a Z.com trade forex account is that deposits are flat across the board - more professional accounts at other brokers usually require a higher deposit and it is positive to see that this is not the case here.
There is also a demo account which is free to open - this gives investors an opportunity to try the platform with no risks or obligation to stay. If you do feel like switching over to a live account then you can do so within mere seconds.
At the time of writing, the only trading platform available to UK customers is MetaTrader 4 - and that isn’t so much of a problem considering how feature rich and fast the platform is. To offer a brief summary, you get access to one of the world’s most advanced trading platforms. Not only can you benefit from superb execution times, but you can also take advantage of an entire app store to customise your experience and even download expert advisors to leverage automated trading. To find out more about MT4, please see our MetaTrader 4 platform guide.
Once again, a bespoke mobile app is not available to UK customers at this time - but you can download the advanced MT4 mobile application, giving you one of the most powerful portable platforms in the world. With a deluxe range of advanced charting tools and technical indicators at your disposal, it’s easy to analyse data on the go and find that next trading opportunity.
Z.com Trade excels in the education and free research department with a dedicated analytics and education portal, giving traders access to a fountain of actionable data and insight. Not only will you find the latest market news and updates, but you can also view a technical analysis feed, giving you the keys to respond to sudden market movements without too much hassle. There’s also a signals section which lets you view market sentiment data in stunning detail, giving you even more ways to spot that next profitable trader. The calendar section is where you will find upcoming economic events that may move the markets.
We also have the education section, which is packed with useful tips and resources to develop and enhance your trading skills. And finally, we have a feature that is certainly unique in the world of forex trading; the chance to chat with an actual analyst. This could certainly be handy for inexperienced traders looking for a push in the right direction.
Z.com Trade accept a wide range of payment types and methods including bank transfers, credit/debit card and e-wallets. Deposits are not subject to any fees but withdrawals are. Depending on when you request the withdrawal, most payments will be processed on the same day.
There are two main options to get support on the site; the first of which is the live chat which should be your first port of call and is the fastest option for support. Next you have a dedicated telephone line which can connect you directly with the service team. Oddly enough, the website does not feature an FAQ or help centre - which could be considered a little inconvenient. Thanks to the inclusion of live chat however, this is not as much of an omission as it should be.
Z.com Trade might not be as fully featured an experience for some global users, but it does still tick all of the right boxes. The inclusion of MetaTrader4 alongside a very useful analytics section makes this broker a compelling choice.