The broker Z.Com Trade has ended its operations and no longer offers brokerage services. It closed its offices in mid-2020.
The Forex and CFD broker Z.Com Trade (regulated by organizations such as the FCA) has announced a series of improvements in its services, including the addition of cryptocurrencies CFD (Contracts For Difference). These services are described below:
New Cryptocurrency Products
Z.Com Trade has announced the introduction of 5 cryptocurrency CFD products to our services. Clients of Z.com Trade are now able to trade with Bitcoin Cash, Bitcoin, Ethereum, Litecoin, and Ripple on MT4 service on the Classic, ECN, and ECN Pro Accounts offered by this broker.
Cryptocurrency products are treated a similar to CFD Commodities and Indices products of Z.Com Trade, whereby 1 standardized lot is defined as per 100,000 USD traded, due to the differences in notional values between different crypto products.
Trading conditions for CFD on cryptocurrencies are summarized in the following table:
Symbol
Trade size
Min Order (lots)
Max Order (lots)
Required Margin
BCHUSD
10
0.01
50
50%
BTCUSD
1
0.01
50
50%
ETHUSD
10
0.01
50
50%
LTCUSD
100
0.01
50
50%
XRPUSD
10,000
1
50
50%
Keep in mind that CFD transactions do not involve the purchase or sale of the underlying asset. This means that the trader at no time comes to buy or sell cryptocurrencies directly. CFDs are OTC derivatives that allow you to speculate on the prices of the underlying assets as if you were trading in the real market.
PayPal and Neteller now supported
Z.Com Trade now supports client funding via PayPal and Neteller, two of the most reliable and popular electronic payment systems. Now the clients of this broker have more options to conveniently send funds to their trading account.
Product specification changes
Following a recent change to regulatory requirements within the EU, Z.Com Trade will be making changes to their product leverages effective from the opening of the trading session on 23rd July 2018, in accordance with these new requirements. After this date, the product leverage will range from 1:2 to 1:30 depending on the product categorization. In addition to the leverage changes, the company will also be introducing negative balance protection.
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