Note: Trade Zone247's official website: https://tradezone247.com/ is currently inaccessible normally.
Trade Zone247 is a global forex broker registered in the United Kingdom. It offers forex, indices, commodities, stocks, and cryptocurrencies with a leverage ratio of 1:200.However, the regulatory licenses of Trade Zone247 are suspicious clones. Please be aware of the risk.
Pros and Cons
Is Trade Zone247 Legit?
Trade Zone247 claims to possess three regulatory licenses, yet each one is a clone license.
Specifically, Trade Zone247 provides a so-called FCA license, license number 595195. However, this license is not held by Trade Zone247, but belongs to NSFX Limited.
A similar situation arises with Trade Zone247's so-called BaFin license. Trade Zone247 claims to obtain a license from BaFin with license number 131055.But once again proves that the license number belongs to Alchemy Markets Limited, not Trade Zone247.
Furthermore, the AMF license number 74397 belongs to NSFX Limited.
In conclusion, these licenses are all fake. You are advised stay away from this broker.
What Can I Trade on Trade Zone247?
You can trade forex, indices, commodities, stock and cryptocurrencies on Trade Zone247.
Leverage
Trade Zone247 claims to provide leverage up to 1:200, but it cannot be verified.
Trade Zone247 Fees
Trade Zone247 did not mention any information about commissions, but its minimum deposit is $500, which is quite high in the industry. The spread offered by Trade Zone247 is 3 pips for major currency pairs, which is double the industry average.
Trading Platform
Trade Zone247 claims to support MT5 trading, which is the most professional and popular trading platform in the world. But you are unable to download MT5 in the official website of Trade Zone247, so this is likely a scam.
Customer Service
You can only connect Trade Zone247 through email. Its customer service channel is very limited, which is also a dangerous signal.
The Bottom Line
The official website of Trade Zone247 is currently inaccessible, so we are unable to obtain more detailed information. Although it offers a wide variety of products, the high spreads may not make it an attractive option for many traders. Most importantly, it lacks legal regulation, so you are advised to choose a trader that is subject to legal regulation to ensure your asset safety.
FAQs
Is it safe to trade with Trade Zone247?
It is unsafe to trade with Trade Zone247 as their regulatory licenses are suspicious clones.
What is the minimum deposit at Trade Zone247?
The minimum deposit is $500.
What is the maximum leverage offered by Trade Zone247?
The maximum leverage is 1:200.
