Zero Markets review – is this Forex broker trustworthy?
Forex trading is one of those markets that are constantly developing. One of the greatest things about this market is that it is offering people around the world the ability to become part of the international financial market without having to leave their own homes. With the help of the internet, the market has developed a lot and has created offerings like never before for everyone.
However, with such fast development, many problems came as well. Today, the internet is full of scam companies that are trying to lie to people and get their funds illegally. because of this, investors around the world are having a very hard time finding out which companies can be trusted and which should be avoided.
In this review of Zero Markets, we will discuss everything about this Forex broker. While reviewing this broker, we came across many challenges that this company has. Because of that, we wanted to create a review that could help every user of this platform to make sure that they are staying as safe as possible.
Zero Markets – How to stay safe
According to the information provided by this Forex broker, Zero Markets own a license from a local regulatory agency in Australia, ASIC. Australian Securities and Investments Commission is the main regulatory body of the country and it takes care of financial companies both in the country and around the whole region of Oceania as well.
However, this regulatory agency is not among the most trustworthy regulatory companies around the world. Although there are some guidelines that the company has set out for investors, the regulatory agency still has a very long way to go. Many scam companies are using this situation to lie to people and take their money, so investors should be very careful while trading with companies like Zero Markets.
This Forex broker was established in 2017, and since then, it has been offering its services. We went online to find people who have used this Forex broker, sadly, we found some people who were scammed by this company. Most of these people were saying that the actual experience with this broker is very different from anything that is written on the website.
Also, as our review of Zero Markets FX broker shows, this company has not adopted Negative Balance Protection, which means that investors can potentially end up losing more than what they have deposited on their trading accounts. This happens because of the very high leverage that the broker offers, which stands as high as 1:500.
Generally, most of the legit Forex brokers around the world offer much lower leverage, especially when it comes to beginner users. High leverage can end up in huge losses, and it is important to only use such high leverage if you know exactly what you are doing.
What are the offerings of Zero Markets?
As the broker has written on the official website, this Zero Markets offers more than 10,000 trading instruments to investors. Although this might be a very impressive number, while taking a deeper look at the platform, we found that this might not be true. Among the available trading assets, you can trade the following instruments at Zero Markets:
- Currency Pairs
- Precious Metals
What account types are offered by this broker?
As our review of Forex broker Zero Markets shows, there are several account types available at this Forex broker. But, the interesting thing about these account types is that there is not that much of a difference between these account types. This is another reason that makes us believe that this broker is simply trying to get as many people on their platform as possible.
The only difference between these accounts that can make a difference is the amount of money that is needed to create them. Once again, this proves our view that Zero Markets is a scam company. These are the available account types at Zero Markets:
- Standard Account
- Super ZERO account
Spreads and commissions
Many people might be happy when they hear that a broker does not charge any commissions or fees. For us, it is a reason to get suspicious and it happens for a reason. Generally, when it comes to Forex brokers, the team behind them works very hard to offer a safe and secure environment to investors. Ensuring safety is related to huge funds, which are used to make sure that everything goes smoothly. This money is mostly received by the brokers from commissions and fees, and if your Forex broker says that they are not charging any fees, either they are lying, or they don’t know what they are talking about.
This Forex broker claims to be offering no commissions or fees. This is another way for this company to attract more people on their platform, with this way, they will have more people to lie to and to scam. Because of this, we believe that Zero Markets is a scam Forex broker.
The only thing that might be a good thing about this Forex broker is that they claim that they have adopted MetaTrader 4 and MetaTrader 5. These trading platforms are very well-known around the world and are used by more than 90 percent of the Forex brokers.
This company also claims to be offering mobile trading. This can be done via a special application created by the company. We wanted to check out on our own how the application worked, and to be honest, it could not have gone any worse. The application is simply useless, it looks very outdated, and using it is a headache.
What about the website?
If you have ever dealt with a scam Forex broker, you will know that they are doing everything in their power to make themselves look legit. This is not the case for this company. Even from the first few minutes on the website, we knew that Zero Markets was not a legit Forex broker.
The website looks like something that was created by 12-year-olds. The information there is just not useful, and it will take investors forever to find something that they had been looking for. Something that is even worse is that the customer support team of this Forex broker is very useless as well.
There are several ways you can connect them, but they never reply on time. Even if they do, they are not helpful at all. Even when asking the simplest question, they were having a very hard time finding the answers. It just seems like the company is not even trying hard enough to look like a legit broker.
Should Zero Markets be trusted?
After doing a review of Zero Markets FX broker, we found that this broker is not a legit company. The broker is simply not good enough to be trusted, their services are outdated, the website is useless, the payment methods are very limited, and everything that they offer is very sketchy.
Although it claims to be a regulated company, after a very long and intensive review, we do not recommend trading with Zero Markets. There are many other companies on the market that offer well-developed services that will benefit you a lot, so, do your research and find a broker that can offer you safety and security.