Is ZFX a Good Option to Trade Oil on Forex Com?

Is ZFX a good option to trade oil? The answer to that question is a resounding "no." The broker is not based in the United States, and is not suitable for U.S. residents. In addition, the company s website provides little support outside of a basic economic calendar. Likewise, the company s educational resources are limited to articles about the major instruments, a glossary of terms, and FAQs. Although these resources are not intended for people living outside the UK, they are still worth checking out if you are new to trading.

Oil traders typically use derivative products to speculate on the underlying market price. These products can either be futures contracts or spot prices. Futures contracts are standardized agreements, with an expiry date that is often the closest. This means that you can trade in oil with short-term positions and perform deeper technical analysis. Traders also have access to a demo account with FuturesOnline. You can practice trading in oil by taking advantage of the 14-day demo account.

If you re new to trading, ZFX can offer a variety of account types with low spreads. For example, an ECN account, with a minimum deposit of USD 1,000, provides the lowest spreads. An STP account, on the other hand, requires 1.3 pips. For a minimum deposit of USD 50, the company offers a Mini Trading account with spreads from 1.5 pips.

ZFX has a wide range of trading instruments, including 64 forex pairs and dozens of exotic options. Traders focus on the contract size, margin requirements, pending orders, and minimum deposits. Some traders opt for CFDs, which allow them to trade without owning the underlying assets. As a result, the amount of leverage is higher than the underlying value. The risk associated with CFDs is also lower than that of other markets.

Besides the popular CFD trading instruments, ZFX offers various trading platforms. Customers can choose between the MetaTrader 4 desktop and mobile platforms. Each platform supports a range of technical indicators, charts, and one-click trading. For clients of the ZFX broker, a web terminal is not available. To begin trading with ZFX, clients will have to download and install MetaTrader 4 on their PCs.

While the broker is not ideal for beginners, it offers favorable conditions for both active and passive trading. PAMM accounts and MAM accounts are available to use with the MT4 terminal. In addition, the broker acts as the asset manager and custodian of the client s money, which allows the investor to earn passive income without risking their capital. The broker also acts as a guarantor and manager of the money, and both the broker and the investor can control the percentage of profit and loss.

In addition to the MT4 trading platform, ZFX offers a free demo account, which allows traders to practice their trading skills before committing to a live trading account. The broker requires registration with their website, and then sends a verification code via email to verify that their information is valid. They do not require a credit card and can accept the minimum deposit amount of $100.

Author: My Forex Rebate
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