Zeal Capital Market

What Zeal Capital Market does

Zeal Capital Market (UK) Limited is an FCA-regulated online broker operating under the consumer-facing brand ZFX, providing multi-asset contract-for-difference (CFD) trading in foreign exchange, commodities, and global indices to Professional Clients as defined under MiFID. The company is headquartered at 25 Old Broad Street, London (FRN: 768451, company number 10219924) and operates as a wholly-owned subsidiary of Zeal Holdings Limited, a British Virgin Islands holding company that anchors the broader Zeal Group of regulated financial institutions and fintech entities. A second operating subsidiary, Zeal Capital Market (Seychelles) Limited (FSA Seychelles licence SD027), supports cross-border Professional Client distribution outside the UK. The UK entity explicitly restricts its services from retail UK residents and is subject to statutory audit and FSCS client-fund protection up to £85,000 per eligible client.

The firm's core product is the Zeal MT4 trading platform — a MetaTrader 4-based solution distributed across PC, Mac, iOS, and Android that supports advanced technical analysis, automated trading via MQL4 Expert Advisors, market depth visualization, one-click trading, and strategy backtesting. Execution is delivered through a No Dealing Desk, market neutral agency model that sources wholesale interbank prices from institutional liquidity providers and does not take proprietary market risk; an ECN Trading Account tier offers tighter spreads and access to deeper liquidity pools for clients seeking institutional-grade pricing. Pricing is transaction-based via spreads, with no commissions disclosed, leverage up to 1:100 for Professional Clients on FX, and a standard multi-asset account alongside the ECN account. Supplementary offerings include an Economic Calendar for event-driven trading and a Zeal Rewards loyalty/referral program.

Go-to-market is fully digital and direct-to-consumer: clients self-register through the my.zfx.co.uk portal with demo and live account options, supported by multi-lingual phone and email client service and a marketing presence spanning Facebook, Twitter, LinkedIn, Instagram, WeChat, and Line. Distribution is exclusively online — there are no field sales teams, channel partners, or physical storefronts — and the product is not directed at retail UK residents. Revenue is generated on a spread-based, pay-as-you-go basis across FX, commodity, and index CFDs, making earnings sensitive to client trading volumes rather than fixed contractual commitments.

Name

Zeal Capital Market

Legal name

Zeal Capital Market (UK) Limited

Website

https://zfx.co.uk

Company type

Private

Operating status

Operating

Headcount range

11–50 employees

Short description

Zeal Capital Market (UK) Limited, operating as ZFX, is an FCA-regulated online broker providing multi-asset CFD trading in forex, commodities, and global indices to MiFID-defined Professional Clients via the MetaTrader 4 platform with no-dealing-desk execution.

Ownership category

akta.pro rank

Product category

Online Retail Brokerage

NAICS

Securities and Commodity Contracts Intermediation and Brokerage (5231), Commodity Contracts Intermediation (523160)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Brokerages & On/Off-Ramps (fiat rails, instant buy/sell) (FSAPADAG)

Keywords

• Online forex trading
• Multi-asset brokerage
• CFD trading services
• MT4 trading platform
• ECN trading accounts

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices4 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure, Others

Revenue model

1. Spread-based Revenue: Primary revenue stream generated from the spread differences between wholesale interbank prices sourced from institutional liquidity providers and the prices quoted to clients. The company operates on a market neutral agency model, not taking market risk.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels7 records

Core offering

Zeal Capital Market provides online multi-asset trading services via the ZFX brand and the MetaTrader 4 platform, offering access to forex, commodities, and global indices for Professional Clients under a Market Neutral Agency Model. Clients trade through standard or ECN accounts with leverage up to 1:100, tight spreads, no commissions on the standard account, and No Dealing Desk execution sourced from institutional liquidity providers. The offering is restricted to Professional Clients as defined under MiFID and is supplemented by FCA regulation (FRN: 768451) and FSCS protection up to £85,000.

Product overview

Zeal Capital Market operates a platform-plus-accounts architecture centered on the Zeal MT4 trading platform, a multi-asset CFD trading solution offering forex, commodities, and global indices. The platform is available across desktop (PC/Mac) and mobile (iOS/Android) devices. Account types include standard accounts and ECN Trading Accounts with optimized pricing. Supplementary tools include an Economic Calendar for tracking market events and a Zeal Rewards loyalty program. All services are accessible through the My ZFX client portal.

Differentiator

Problem solved

Functional benefit

Brands

• Zeal MT4: Industry benchmark trading platform built with advanced trading operations and technical analysis, fully scalable for automated trading, available on most devices including PC, Mac, iOS, and Android

Products and services

• Zeal MT4 Trading Platform Industry benchmark MetaTrader 4-based trading platform for multi-asset trading (currencies, commodities, indices) with leverage up to 1:100, available across desktop and mobile devices. Includes advanced technical analysis tools, automated trading via Expert Advisors (MQL4), live news feeds, one-click trading, market depth visualization, and strategy backtesting for Professional Clients.
• ECN Trading Account Enhanced trading account offering optimized pricing and execution with access to a deeper pool of liquidity and tighter spreads, suited for professional clients seeking institutional-grade pricing and execution.
• My ZFX Client Portal Client account management portal for online registration, login, and account administration of ZFX trading accounts.
• Zeal Rewards Program Client loyalty and rewards program for active traders using the ZFX platform.

Quantifiable outcome

• Leverage up to 1:100 for Professional Clients on FX trading
• +1 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature6 records

Scale indicators4 records

Recent moves6 records

Expansion highlights4 records

Emerging players

• eToro: Multi-regulated social trading platform with FCA, ASIC, and CySEC licenses. While positioned more toward retail and copy-trading, it competes for the same active-trader audience and offers a lateral platform technology benchmark versus Zeal's MT4-only stack.

Direct peers

• FXTM (Forextime): CySEC and FCA-regulated broker offering forex and CFDs on MT4/MT5 with multi-lingual support and a global footprint. Comparable in size, regulation tier, and product mix to Zeal's UK and Seychelles entities.
• Pepperstone: Australia-originated, multi-jurisdictional forex and CFD broker with FCA and other top-tier regulation. Targets active traders with MT4/MT5/cTrader and ECN-style execution, overlapping directly with Zeal's model and product mix.
• IC Markets: Australia-based ECN forex and CFD broker with MT4/MT5/cTrader and tight-spread pricing. Competes head-to-head with Zeal's ECN account tier for cost-sensitive professional traders on MT4 infrastructure.
• OANDA: Globally regulated FX and CFD broker with MT4 and proprietary platform. Long-standing agency-style execution model and multi-lingual support make it a near-direct functional analogue to Zeal's ZFX offering.

Broad incumbents

• CMC Markets: London-headquartered, FCA-regulated CFD broker with proprietary Next Generation platform. Operates the same agency-like execution model on FX, commodities, and indices, making it structurally analogous to Zeal's ZFX proposition.
• Plus500: Israel-headquartered, multi-regulated CFD broker with proprietary platform. Competes for the same retail and emerging-professional CFD client that Zeal's Professional Client focus addresses, though with a vastly larger marketing footprint.
• IG Group: UK-listed, FCA-regulated multi-asset broker offering CFDs, spread betting, and share trading across platforms. Significantly larger and broader in product scope than Zeal, but a direct competitor for professional and active retail FX/CFD traders.
• Saxo Bank: Danish, multi-jurisdictional bank and broker offering FX, CFDs, and a much broader multi-asset platform (SaxoTrader). Targets professional and institutional clients with institutional-grade execution, a structural analogue to Zeal's positioning.
• Swissquote: Swiss bank and online broker offering FX, CFDs, and broader multi-asset trading. Targets professional clients with institutional pricing and is a competitor for the upper-tier of Zeal's professional client base.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/zeal-capital-market-uk-limited
• Facebookfacebook.com/ZealCapitalMarket
• Xtwitter.com/ZealCapital
• Instagraminstagram.com/zealcapitalmarket

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Zeal Capital Market