MidasFX and Zforex are two popular offshore forex and CFD brokers that offer online trading services to traders and investors worldwide. Both brokers accept U.S. clients and provide trading facilities with no FIFO rule, high leverage, low fees, and tight spreads without restrictions. Although these brokers offer similar services, each has its strengths and weaknesses.
In this article, we will compare and review MidasFX and Zforex by exploring their trading conditions, instruments, minimum deposits, fees, features, and customer support. This comparison and research will help you determine which broker is better suited to your trading style and preferences.
MidasFX vs Zforex: In a Nutshell
MidasFX
Founded in 2020, MidasFX is an online forex and CFD broker. It is an offshore forex broker that offers 100+ trading instruments including forex, metals, energies, stock indices, and cryptocurrencies to traders worldwide. The broker allows all trading styles including scalping, hedging, news trading, etc. The maximum leverage of MidasFX is as high as 1:1000.
MidasFx Overview
- Founded In: 2020
- Headquarters: Saint Vincent and the Grenadines
- Minimum Deposit: $1
- Maximum Leverage: 1:1000
- Regulations: None
- Trading platform:MT4, MT5
- Account Types: Raw spread (ECN) and spread-only (STD) accounts on both MT4 and MT5.
- Payment Options: Steller, Instacoins, Ethereum, Litecoin, Bitcoin
- US Traders: Accepted
Zforex
Founded in 2022, ZForex is an online forex and CFD broker. It is an unregulated forex broker that offers 100 instruments ranging from all the major Cryptos, Forex, Commodities, and Global Indices to traders worldwide. The broker allows all trading styles including scalping, hedging, news trading, etc. The maximum leverage of ZForex is as high as 1:1000.
ZForex at a Glance
- Founded Year: 2020
- Headquarters: Saint Vincent and the Grenadines
- Minimum Deposit: No minimum Deposit (You may deposit as low as $1)
- Maximum Leverage: 1:1000
- Regulations: None (Unregulated Offshore Broker)
- Trading platform: MT5 (Desktop, Web, Mobile)
- Account Types: Micro, Standard, ECN
- Trading Style: Scalping, Hedging, Swing Trading, Day Trading, Automated Trading
- Payment Options: Perfect Money, Cryptocurrencies, Altcoins
- US Traders: Accepted
MidasFX vs Zforex: Side By Side Comparison
MidasFX vs Zforex: Features
MidasFX
- Trading Instruments: Forex, Cryptos, Indices, Metals
- Trading Platforms: Mt4, MT5
- Minimum Deposit: $1
- Maximum Leverage: 1:1000
- Trading Fees: Commission $5 per 100k. Variable spreads from 0.0 pips. A rollover commission is applied on open positions overnight.
- Minimum Trade Size: 0.01 lot.
- Maximum Trade Size (Lot restriction per Ticket): 1000 Lots MT4 and 100 lots MT5
- Funding Currencies: USD/EUR/GBP/JPY/CAD
- Trading Style Allowed: All including Scalping, hedging, News trading, and EA Trading.
- PAMM/ MAM: Available
- Stop Out Level (retail): 40%
- Margin Call Level: 100%
- Negative balance Protection: Yes
- Investor Protection: No investor protection is Available.
- Account Opening: Fully Online Account opening. It may take only 5 to 7 Minutes. The demo account has 30 days of validity.
- KYC Verification: Required
Zforex
- Trading Instruments:Â Forex, Crypto, CFDs, Commodities
- Trading Platforms:Â Mt5, Metatrader Web App
- Minimum Deposit:Â Â $10
- Maximum Leverage:Â 1:1000
- Trading Fees:Â Â Trading fees (spreads and commissions) depend on account types. The minimum spread is 1.2 pips for the STD account or Commissions 10$ Forex, 15$ Metals per lot for the ECN account, and Swap free account.
- Minimum Trade Size: 0.01 lot.Â
- Maximum Trade Size (Lot restriction per Ticket):10 LotsÂ
- Funding Currencies:Â Bitcoin, Bitcoin Cash, Coinbase, Dogecoin (DOGE), Ether/Ethereum, Litecoin, Other Crypto Currencies, SticPay, Tether (USDT)
- Trading Style Allowed: All including Scalping, hedging, News trading, and EA Trading.Â
- PAMM/ MAM:Â Available Â
- Stop Out Level (retail): 20%
- Margin Call Level:Â 100%Â
- Negative balance Protection: YesÂ
- Investor Protection:Â Â No investor protection is Available.Â
- Account Opening:Â Fully Online Account opening. It may take only 5 to 7 Minutes. The demo account has 30 days of validity.Â
- Â KYC Verification:Â Required
MidasFX vs Zforex: Pros and Cons
MidasFX Pros & Cons
- No Minimum Deposit- You may deposit as low as $1
- Allow Crypto CFD Trading
- Demo Accounts are Available
- Higher Leverage for US, and EU clients. Maximum leverage is as high as 1:1000
- Allow Scalping, EA Trading, and News Trading
- MidasFX Accepts Crypto Deposits
- Unregulated offshore forex broker
- Limited Deposit and Withdrawal Option
- No Managed Account Options
Zforex Pros & Cons
- Low Minimum Deposit – Starting from $10
- Allow Crypto CFD Trading
- Offers leverage as high as 1:1000
- The maximum lot size is as high as 1000 lot
- Low commission trading commission is only $2 per 100K trading.
- Offers MT5 trading platforms (Desktop, Web, mobile version)
- Demo Accounts are Available
- Higher Leverage for US, and EU clients.
- Allow Scalping, EA Trading, and News Trading
- ZForex Accepts Crypto Deposits
Cons:
- Offshore Forex Broker
- Limited deposit and withdrawal methods
- Unregulated Forex broker
- Only MT5 is available ( No MT4 or other trading platforms)
Final Thoughts:
MidasFX and Zforex are unregulated offshore forex and CFD brokers in the industry. They offer similar trading services; they both allow scalping, hedging, EA trading, and Copy trading EA. The minimum order size for both of them is 0.01
However, there are a few areas where you may find some differences. For example, MidasFX supports the MetaTrader (MT4/MT5) trading platforms. On the other hand, Zforex does not support the MetaTrader (MT4) trading platform.It uses the MT5 trading platform. The minimum deposit for MidasFX is $1, whereas the minimum deposit for Zforex is $10. Additionally, the maximum leverage for MidasFX is 1000:1, while the maximum leverage for Zforex is 1000:1.
Our score for MidasFX is 4.4, and for Zforex, it is 4.1 So, If you are looking for a high-leverage offshore broker with MT4/MT5 trading platform you may choose MidasFX. However, if you prefer not to use MT4, you may choose Zforex.
Disclaimer: Trading forex and CFDs comes with the risk of losing your trading capital. Moreover, trading with offshore forex brokers puts your funds at higher risks
