Zeno Markets Review: An In-Depth Look At This Unregulated Broker
Founded in 2011 and registered in Saint Vincent and the Grenadines, Zeno Markets, a trade name of Zeno Markets Ltd, claims to be an international online trading provider. Because the local financial authorities pay minimal attention to the forex market, this offshore jurisdiction is infamous for being home to a large number of shady brokers. This Zeno Markets review explores the reasons why this broker is fraudulent and why it is an unregulated website managed by scammers.
Website – https://zenomarkets.com/
Website Availability – No
Address – Saint Vincent and the Grenadines
Blacklisted Status – Not Recommended By Review Website Like Broker Scan
Domain Age Information –
- Domain Name: ZENOMARKETS.COM
- Registry Domain ID: 2619569992_DOMAIN_COM-VRSN
- Registrar WHOIS Server: whois.namecheap.com
- Registrar URL: http://www.namecheap.com
- Updated Date: 2022-12-31T14:53:35Z
- Creation Date: 2021-06-14T17:45:55Z
- Registry Expiry Date: 2025-06-14T17:45:55Z
Lack of Regulatory Oversight
The absence of a legitimate regulatory license for Zeno Markets is one of the main issues. Despite claiming that “the financial authority FCA strictly regulates all of Zeno Markets activities,” Zeno Markets makes a false claim with this assertion. The FCA database does not include any information on Zeno Markets Ltd. or any entity or broker by that name. Potential investors should take note of this serious red signal regarding inadequate regulation.
Trading Conditions and Account Types
Standard, VIP 1, and VIP 2 trading accounts are the three available account categories at Zeno Markets. The Standard account has a $500 minimum initial deposit, however the VIP 1 and VIP 2 accounts have substantially larger minimum initial capital requirements of $5,000 and $20,000, respectively. On the other hand, a lot of regulated brokers establish a beginning account with as little as a $100 minimum deposit.
Zeno Markets offers maximum leverage of 1:500. Excessive leverage could increase prospective gains, but it also raises the danger of experiencing enormous losses. Before using such large leverage, traders must carefully monitor their risk and take their risk tolerance into account.
Trading Platform and Instruments
With leverage up to 1:500 and variable spreads starting at 0.1 pip, ZenoMarkets.com promises to provide its customers with a wide range of tradable financial instruments via the MT4 trading platform. Although MT4 is an esteemed platform, the credibility and dependability of the broker providing it are essential. Zeno Markets’ credibility is seriously questioned in light of the absence of regulation and the dubious assertions regarding FCA oversight.
Deposit and Withdrawal Methods
According to Zeno Markets, deposits may be made using wire transfers, credit cards, local bank transfers, and cryptocurrency. The VND, EUR, GBP, USD, IDR, and THB are among the base currencies. However, in comparison to other regulated brokers that usually provide more accessible entry points for traders, the $500 minimum initial deposit requirement is seen as excessive.
Why You Should Be Cautious
Zeno Markets is registered in Saint Vincent and the Grenadines, an offshore jurisdiction with a reputation for having poor regulatory monitoring. Such jurisdictions are preferred by many scam brokers who want to operate with less oversight. Furthermore, it is quite concerning because Zeno Markets claims to be regulated by the FCA, although their name is not included in the FCA database. Any prospective investor should be cautious only based on this.
Conclusion: Zeno Markets Review
It’s evident from this Zeno Markets review that there are a lot of concerns about this broker. ZenoMarkets.com may be a scam as evidenced by the lack of regulatory control, the excessive minimum deposit requirements, and the false statements of FCA regulations. Traders should proceed cautiously and consider other brokers who provide favorable trading circumstances and substantiated rules.
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