ZX Capital Markets (ZXCM), a relatively new contracts for difference (CFD) broker founded in 2023, revealed that roughly 70 per cent of its $100 billion trading volume last year came from gold. Demand for silver trading with the broker also jumped by 300 per cent in the fourth quarter of 2025.
Gold and Silver’s Gains Attracted Traders
Gold posted a roughly 60 to 65 per cent gain in 2025, while silver rose around 140 to 150 per cent, making it one of the best-performing major commodities last year.
Data from Finance Magnates Intelligence shows that CFDs on metals accounted for more than 60 per cent of global broker volumes in the first half of 2025. The vast majority, nearly 80 per cent, came from gold contracts, while another 18 per cent came from silver. Only a small share came from other metals and commodities.
Read more: Gold Trading Rises to 90% of Total Volumes, but Liquidity Is Not a Concern for CFD Brokers
Founded and headed by industry veteran Hadi Zaarour, ZXCM also offers crypto CFDs. According to the broker, crypto trading mostly occurs outside normal trading hours, and the most traded symbol was BTC.
Before launching ZXCM, Zaarour spent years at several CFD companies, including Scope Markets and XGlobal Markets.
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Targeting the Growing Markets
The broker onboarded around 3,000 clients last year, with a funding rate of 90 per cent. It also stated that it has a diversified client base with flows from Asia, the MENA region and Latin America, all emerging and profitable markets.
The broker’s focus this year will be to expand in Asia and Latin America, and it has already started onboarding many clients in those regions.
Currently, ZXCM is operating with a Seychelles licence and a St. Lucia registration. However, it has applied for a licence in Cyprus and expects to receive it this year. The broker has also established entities in the UK and Lebanon.
Interestingly, ZXCM is seeking a Cyprus licence, while many brokers on the island are diversifying their regulatory presence elsewhere, particularly in the UAE.
FinanceMagnates.com earlier reported that Squared Financial, which ran its operations mainly from Cyprus, gave up its licence from the island’s regulator. BDSwiss followed a similar approach; however, it first dropped offers to retail clients before fully handing back its Cyprus licence in 2024.
Several other major Cyprus-based brands, including Exness, FXTM, IronFX and RoboMarkets, have also stopped onboarding retail CFD traders under their Cyprus licence and are focusing mainly on offshore markets. While some still hold their Cyprus licence, others have given it up.
