Introduction
ZoraFX, formerly LastProp, is an Iranian prop trading firm established in November 2023 to provide traders with access to funded accounts. Headquartered in Dubai, United Arab Emirates, the firm initially gained traction among Iranian traders through its diverse offerings and use of the MetaTrader 5 platform. However, in early 2024, LastProp faced severe operational and financial challenges due to MetaQuotes’ crackdown on prop firms, particularly those servicing US clients without proper licensing. This led to server disconnections, inability to pay profits, and widespread customer dissatisfaction. To address these issues, LastProp rebranded as ZoraFX, launching a new website (ZoraFX) to reposition itself as a global platform. This article provides a detailed and unbiased review of ZoraFX, covering its history, rebranding reasons, account types, pricing, rules, and essential information for traders.
History and Rebranding
LastProp began operations in November 2023 and quickly became popular among Iranian traders for its flexible account types and low-risk trading opportunities. The firm claims to have over 80,000 users and partnerships with more than 10 major companies (LastProp Cooperation). However, in early 2024, MetaQuotes, the developer of MetaTrader 4 and 5, enforced strict regulatory measures against prop firms, particularly those serving US clients without proper licensing (TradeInformer). This crackdown, reported by sources like Finance Magnates, led to server disconnections for LastProp, disrupting trading activities and preventing profit payouts. Customer complaints on Trustpilot about strict rules, such as the “80% rule” limiting payouts, and account suspensions further tarnished its reputation.
In response, LastProp rebranded as ZoraFX, launching a new platform to offer integrated prop trading and brokerage services globally. The company describes this transition as a fundamental transformation in service structure, global identity, and user experience, positioning ZoraFX as the first Iranian platform of its kind.
Account Types and Features
ZoraFX offers four account types tailored to different trading styles, as detailed in the LastProp Plan Comparison, which appears to remain valid for ZoraFX:
| Account Type | Phases | Profit Target | Daily Drawdown | Overall Drawdown | Leverage | Profit Split | Minimum Trading Days | Additional Features |
|---|---|---|---|---|---|---|---|---|
| Two-Phase | 2 Phases | 8%, then 4% | 5% | 12% | 1:100 | 80%-90% | 5 days | 20% challenge fee refund (purchasable), weekend trading only between personal accounts, copy/robot/news trading possible, first profit withdrawal after 1 month, second after 7 days |
| One-Phase | 1 Phase | 10% | 3% | 6% | 1:100 | 30%-100% | 2 days | 20% challenge fee refund (purchasable), optional weekend trading (1, 7, 14, or 30 days), copy/robot/news trading optional, flexible profit withdrawal |
| Fast Prop | 8-9 Phases | 10% | 5% | – | 1:50 | 50% | 5 days | Challenge fee refund not mentioned, weekend trading only between personal accounts, copy/robot trading purchasable, first and second profit withdrawal after 5 days |
| Pro Real | Direct | – | 5% | – | 1:50 | 60% | – | Challenge fee refund not mentioned, weekend trading only between personal accounts, copy/robot trading purchasable, first profit withdrawal after 1 month, second after first month |
Account Details
- Two-Phase Account: Ideal for traders seeking a balance between risk and reward, requiring an 8% profit target in phase one and 4% in phase two.
- One-Phase Account: Designed for traders aiming to access funded accounts quickly, with a 10% profit target but stricter drawdown limits.
- Fast Prop Account: More complex with 8-9 phases, though details on phases are unclear. It offers lower leverage (1:50) and a 50% profit split.
- Pro Real Account: Provides direct access to a live account without challenges, but with lower leverage and a 60% profit split.
Pricing and Payment Methods
Challenge fees range from $57 to $2,607, depending on the account size (FX360). Two-Phase and One-Phase accounts offer an option to purchase a 20% challenge fee refund. ZoraFX supports multiple payment methods, including bank transfers, credit/debit cards, e-wallets, and cryptocurrency payments, with fast and delay-free withdrawals.
Rules and Restrictions
ZoraFX enforces strict rules to ensure a fair trading environment (ZoraFX):
- Arbitrage Trading: Prohibited to prevent unfair profit exploitation.
- High-Frequency Trading (HFT): Banned to avoid market manipulation.
- Manipulative Trading: Practices like spoofing and front-running are forbidden.
- Insider Trading: Using non-public information is illegal.
- Exploitative Strategies: Exploiting system or market weaknesses is prohibited.
Violations can lead to account suspension or closure. Forex trading is available 24/5, from Sunday evening to Friday evening (UTC+2).
Comparison with Other Prop Firms
The following table compares ZoraFX’s rules with those of other prop firms:
| Feature | ZoraFX | Other Prop Firms (e.g., Apex Trader Funding) |
|---|---|---|
| Profit Target | 4%-10% depending on account type | Typically 6%-10% |
| Daily Drawdown | 3%-5% | Typically 4%-6% |
| Profit Split | 30%-100% | Typically 70%-90% |
| Leverage | 1:50 to 1:100 | Typically 1:10 to 1:100 |
| Prohibited Trades | Arbitrage, HFT, manipulative, insider, exploitative | Often similar, but may be more flexible |
ZoraFX’s strict rules on HFT and arbitrage promote a secure but restrictive trading environment.
Educational Resources and Support
ZoraFX provides extensive educational resources, including articles, tutorials, webinars, and market analyses on technical analysis, fundamental analysis, risk management, and trading psychology. Additionally, 24/7 customer support in multiple languages ensures accessibility for global traders.
Customer Reviews
LastProp received mixed reviews on Trustpilot, with an average rating of 3.4 out of 5 from 7 reviews. Some traders praised its educational resources and account flexibility, while others criticized strict rules and account closures. Traders should approach ZoraFX cautiously and review terms thoroughly.
Conclusion
ZoraFX represents a fresh start for LastProp, offering diverse account types, fast withdrawals, and robust educational resources. However, its strict rules, lack of regulatory transparency, and LastProp’s troubled history require caution. Traders should thoroughly review terms, ensure compliance, and align the platform with their trading style and risk tolerance.