Zforex and NextTrade 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 Zforex and NextTrade 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.
Zforex vs NextTrade: In a Nutshell
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
NextTrade
Founded in 2020, NextTrade is an online forex and CFD broker. It is an offshore forex broker that offers 138 forex pairs, stocks, indices, commodities, and cryptocurrency services to traders worldwide. The broker allows all trading styles including scalping, hedging, news trading, etc. The maximum leverage of NextTrade is as high as 1:500.
NextTrade at a Glance
- Founded Year: 2020
- Headquarters: Stamford Hill, Durban Kwa-Zulu Natal 4001.
- Minimum Deposit: $10
- Maximum Leverage: 1:500
- Regulations: None (Unregulated Offshore Broker)
- Trading platform: TradeLocker,MT5
- Account Types: Standard ECN
- Trading Style: Scalping, Hedging, Swing Trading, Day Trading, Automated Trading
- Payment Options: Bitcoin (BTC),Ethereum (ETH),Litecoin (LTC),Ripple (XRP),Dogecoin (DOGE), Tether (USDT) (TRC-20),USD Coin (USDC) (BEP-20/TRC-20),Credit Card or Bank Transfer
- US Traders: Accepted
Zforex vs NextTrade: Side By Side Comparison
Zforex vs NextTrade: Pros and Cons
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)
NextTrade Pros & Cons
- Low Minimum Deposit – Starting from $10
- Allow Crypto CFD Trading
- Offers leverage as high as 1:500
- The maximum lot size is as high as 1000 lot
- Spread starting from 0.4 pips
- Offers MT5, Tradelocker trading platforms
- Demo Accounts are Available
- Higher Leverage for US, and EU clients.
- Allow Scalping, EA Trading, and News Trading
- Nexttrade Accepts Crypto Deposits
Cons:
- Offshore Forex Broker
- Limited deposit and withdrawal methods
- Only MT5, Tradelocker is available ( No MT4 or other trading platforms)
Final Thoughts:
Zforex and NextTrade 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, Zforex supports MetaTrader (MT5) trading platforms. On the other hand, NextTrade does not support the MetaTrader (MT4) trading platform. It uses the MT5 and TradeLocker trading platform. The minimum deposit for Zforex is $10, whereas the minimum deposit for NextTrade is $10. Additionally, the maximum leverage for Zforex is 1000:1, while the maximum leverage for NextTrade is 500:1.
Our score for Zforex is 4.1, and for NextTrade, it is 4.5. So, If you are looking for a high-leverage offshore broker with MT5 trading platform you may choose Zforex. However, if you prefer not to use MT5 and TradeLocker, you may choose NextTrade.
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