Score
Zeno Markets
Saint Vincent and the Grenadines|2-5 years| https://zenomarkets.com/
Website
Rating Index
Contact
Licenses
No valid regulatory information, please be aware of the risk!
Single Core
1G
40G
1M*ADSL
- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
Basic information
Saint Vincent and the Grenadines
2-5 years Suspicious Regulatory License Suspicious Scope of Business High potential riskAccount Information
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Website
zenomarkets.com
Server Location
United States
Website Domain Name
zenomarkets.com
Server IP
172.67.212.10
Company Summary
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
General Information
| Zeno Markets Review Summary in 10 Points | |
| Founded | 2011 |
| Registered Country/Region | Saint Vincent and the Grenadines |
| Regulation | No license |
| Market Instruments | Forex, Indices, commodities, metals, cryptocurrencies, equities |
| Demo Account | N/A |
| Leverage | 1:500 |
| EUR/USD Spread | From 1.4 pips |
| Trading Platforms | MT5 |
| Minimum deposit | $500 |
| Customer Support | Live chat, phone, email |
What is Zeno Markets？
Zeno Markets, a trading name of Zeno Markets Ltd, presents itself as a global online trading provider founded in 2011 and registered in Saint Vincent and the Grenadines that claims to provide its clients with various tradable financial instruments with leverage up to 1:500 and variable spreads from 0.1 pips through the MT4 trading platform. However, it is important to note that Zeno Markets does not hold any valid regulatory license, which may raise concerns for some traders.
In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.
Pros & Cons
Zeno Markets has several advantages, including a wide range of trading instruments, multiple account types and MT5 trading platform.
However, there are some significant drawbacks, such as the lack of regulation, high minimum deposit requirement and negative reviews regarding scams and difficulties in withdrawing funds. As with any investment, it is essential to conduct thorough research and exercise caution before deciding to trade with Zeno Markets.
| Pros | Cons |
| • Wide range of trading instruments | • Not regulated by any reputable financial authority |
| • Multiple account types | • High minimum deposit requirement |
| • MT5 trading platform available for various devices | • Negative reviews from some clients |
| • Multi-channel customer support | • Residents of Afghanistan, Cuba, Iran, North Korea, Sudan, Syria, Ukraine and USA are not accepted |
| • Limited educational resources and research tools provided by the broker |
Zeno Markets Alternative Brokers
TigerWit - offers a user-friendly trading platform with competitive pricing, but limited product offerings and lack of regulation in some countries.
Trading 212 - a regulated broker with a wide range of trading instruments and a user-friendly platform, but limited research and educational tools.
TrioMarkets - offers a variety of trading accounts and competitive pricing, but limited product offerings and a lack of regulation in some countries.
There are many alternative brokers to Zeno Markets depending on the specific needs and preferences of the trader. Some popular options include:
Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs.
Is Zeno Markets Safe or Scam？
Based on the lack of regulatory license and negative user reports of scams and inability to withdraw, it is difficult to recommend Zeno Markets as a safe broker for trading. It is important to exercise caution when dealing with unregulated brokers and to thoroughly research and verify the legitimacy of a broker before depositing any funds.
Market Instruments
Zeno Markets provides a diverse range of financial instruments for trading, including indices, commodities, metals, cryptocurrencies, major currency pairs, minor currency pairs, exotic currency pairs, and equities. This allows traders to access a variety of markets and diversify their portfolios. Indices offered by Zeno Markets include major indices such as S&P 500 and NASDAQ 100. Commodity instruments include energies like cocoa and coffee.
Traders can also trade metals like aluminium and copper, and a range of cryptocurrency pairs such as BTCUSD and BCHBTC. With such a diverse range of instruments, Zeno Markets aims to cater to the needs of traders with varying investment goals and risk tolerances.
Accounts
Zeno Markets claims to offer three types of trading accounts, namely Standard, VIP 1 and VIP 2. The minimum initial deposit amount is $500 for the Standard account, while the other two account types have much higher minimum initial capital requirements of $5,000 and $20,000 respectively. In comparison, licensed brokers allow setting up a starter account with a minimum deposit of $100 or even less.
Leverage
The leverage provided by Zeno Markets is capped at 1:500. Higher leverage can magnify your potential profits, but it also increases your risk of significant losses. It's important for traders to carefully manage their risk and consider their own risk tolerance before trading with high leverage.
Spreads & Commissions
While Zeno Markets claims to offer competitive spreads and commissions, the lack of a regulatory license raises concerns about the transparency and reliability of their pricing. Specifically, the spread starts from 1.4 pips, 0.6 pips and 0.1 pips, and the commission is zero, zero and $7 per lot on the Standard, VIP 1 and VIP 2 accounts separately.
Below is a comparison table about spreads and commissions charged by different brokers:
| Broker | EUR/USD Spread | Commission |
| Zeno Markets | 1.4 pips | $0 - $7 |
| TigerWit | 0.6 pips | $0 |
| Trading 212 | 0.9 pips | $0 |
| TrioMarkets | 0.3 pips | $4 |
Note: Spreads can vary depending on market conditions and volatility.
Trading Platforms
Platforms available for trading at Zeno Markets is the popular MetaTrader 5 (MT5) platform that can be downloaded for Windows, iOS and Android devices. Additionally, clients can also use the MT5 WebTrader which does not require any downloads and can be accessed through any web browser.
The MT5 platform is known for its advanced charting capabilities, multiple timeframes, and various analytical tools. It also supports automated trading through the use of Expert Advisors (EAs) and allows for the integration of custom indicators.
Overall, the availability of MT5 across multiple devices and its user-friendly interface make it a popular choice among traders.
See the trading platform comparison table below:
| Broker | Trading Platform |
| Zeno Markets | MT5 |
| TigerWit | TigerWit App |
| Trading 212 | Trading 212 App |
| TrioMarkets | MT4, MT5 |
Deposits & Withdrawals
Zeno Markets says to accept deposits via local bank transfers, credit cards, wire and cryptocurrencies. The base currencies are USD, EUR, GBP, THB, IDR, and VND. The minimum initial deposit requirement of $500 may be considered high compared to other licensed brokers.
Zeno Markets minimum deposit vs other brokers
| Zeno Markets | Most other | |
| Minimum Deposit | $500 | $100 |
Fees based on deposit/withdrawal rates, and your bank may charge you a transfer fee.
See the fee comparison table below:
| Broker | Deposit Fee | Withdrawal Fee |
| Zeno Markets | N/A | N/A |
| TigerWit | No | $0-$10 (depending on method and currency) |
| Trading 212 | No | No |
| TrioMarkets | No | No |
Please note that these fees may be subject to change and may also depend on the deposit/withdrawal method, currency, and account type. It is recommended to check with the broker directly for the most up-to-date and accurate information regarding fees.
Additionally, while some deposit methods offer instant processing times, wire transfers may take up to 5 days to process. It's worth noting that any bank transfers made to Zeno Markets must be made from a bank account registered in the client's full name to avoid issues with fund transfer.
Customer Service
Zeno Markets customer support can be reached by live chat, telephone: +1784 488 7328, email: support@zenomarkets.com or leave a request online to get in touch. You can also follow this broker on social networks such as Twitter, Facebook, Instagram and LinkedIn. Registered address: Suite 305, Griffith Corporate Centre, Beachmont Kingstown, P.O. Box 1510, St. Vincent and the Grenadines.
Overall, Zeno Markets' customer service is considered reliable and responsive, with various options available for traders to seek assistance.
| Pros | Cons |
| • Multiple ways to reach customer support | • Some negative customer reviews regarding support responsiveness |
| • Social media presence for additional communication | • No 24/7 customer support |
| • Online contact form for inquiries and support requests | • Limited languages supported |
| • No FAQ section on website for self-help |
Note: These pros and cons are subjective and may vary depending on the individual's experience with Zeno Markets' customer service.
User Exposure on WikiFX
On our website, you can see that some users have reported scams and unable to withdraw. Please be aware and exercise caution when investing. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section, we would appreciate it and our team of experts will do everything possible to solve the problem for you.
Conclusion
In conclusion, Zeno Markets is an unregulated broker offering a wide range of instruments for trading and relatively high leverage. The broker's trading platforms, including the popular MT5, are available on various devices.
However, the minimum deposit requirements for the different account types are quite high compared to licensed brokers. Moreover, there have been negative reports about the broker, including scams and withdrawal issues, and the absence of a regulatory license raises concerns about the broker's trustworthiness. Therefore, potential investors are advised to exercise caution and consider the risks before trading with Zeno Markets.
Frequently Asked Questions (FAQs)
| Q 1: | Is Zeno Markets regulated？ |
| A 1: | No. It has been verified that this broker currently has no valid regulation. |
| Q 2: | At Zeno Markets, are there any regional restrictions for traders？ |
| A 2: | Yes. It does not provide services to residents of Afghanistan, Cuba, Iran, North Korea, Sudan, Syria, Ukraine and USA. |
| Q 3: | Does Zeno Markets offer the industry-standard MT4 & MT5？ |
| A 3: | Yes. It supports MT5. |
| Q 4: | What is the minimum deposit for Zeno Markets？ |
| A 4: | The minimum initial deposit to open an account is $500. |
| Q 5: | Is Zeno Markets a good broker for beginners？ |
| A 5: | No. It is not a good choice for beginners. Not only because of its unregulated condition, but also because of its too high initial deposit requirement. |
Keywords
- 2-5 years
- Suspicious Regulatory License
- Suspicious Scope of Business
- High potential risk
News
Exposure Victim's Nightmare with Zeno Markets Broker
Ensuring the safety and legitimacy of a broker is crucial. Unfortunately, this lesson came at a high cost for Nguyen, a 46-year-old trader from Vietnam. He recently sought assistance from WikiFX, hoping to expose the misconduct of Zeno Markets, a broker accused of blocking his withdrawal requests and causing significant financial loss.
2024-07-05 18:21
News In its 2022 Review, Online Broker Zeno Markets Demonstrates Spectacular Features.
In a well-organized online broker, Zeno Markets, a detailed review of their products, services, and professional reviews. In 2022, Zeno Markets will be more promising than ever, and its expansion will surprise traders.
2022-04-14 18:22
Review 24
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FX244677432
United Kingdom
I want to apply for a withdrawal after completing my activities in Zeno Markets. The platform requires payment of 10% tax, which cannot be deducted from the principal. After paying the tax, they said that my account was a high-risk account and I needed to pay another 20% deposit. I have already paid 10%, but I still cannot withdraw money
Exposure
05-23
nguyen tuan09
Czech Republic
I would like to expose unusual tactics of the Zeno Markets Broker and its agency. I was lured into trading with them. They promised me a VIP treatment with a help of their best trader so I deposited a large sum of money ($442,000.00 to be specific). The trader helped me to place trades with large volumes and my account increased a balance substantially to 1.2 M. Then, they crushed my account.
Exposure
05-22
danghoach
Vietnam
Freeze my account from trading.
Exposure
2023-06-26
Johnny6239
Vietnam
During the period of joining Zeno exchange, my account generated interest. Due to the nature of my work, I need to withdraw all funds to pay. I require the broker to withdraw 15k (zeno's account balance exceeds 15k). That night, there was a strange order (XPTUSD) in my account. The number of hands was very high. I didn't know what kind of order it was (I never knew it in the trading history). This made my account further negative, but the bonus still exceeded 3k, The next day, the broker cut my bonus by more than 3k (although the bonus test account can still be ordered), making the account return to zero... I sent a message to the support staff, but it was not resolved... Now I know this wiki, and hope someone can help me deal with the unreasonable capital loss
Exposure
2023-02-18
Nguyễn Văn Thưởng
Vietnam
I was dragged into the exchange and was tricked into liquidating my account
Exposure
2023-02-16
Queen654
Vietnam
No responsibility to investors who can't withdraw money..
Exposure
2023-02-06
Hạ Nguyên 6020
Vietnam
Arise fraud order buy 100 liner automatically jumped into my account and lost 3000usd when I told the technician I withdrew from the market, kept asking for more money, the money I borrowed, I got a salary every month. 10 million, then withdraw money
Exposure
2023-02-05
Hạ Nguyên 6020
Vietnam
I couldn't withdraw money, at the same time there was an order to buy 100 liner oil that automatically jumped into my account, causing the account to be negative 3000usd, there was a heavy fraud because at that time I didn't hold the phone but the buy order jumped in.
Exposure
2023-02-05
haidang255
Vietnam
If I spend money, I have to withdraw, but why do they force me to have 60 lots according to the regulations of the exchange. Where is the contract of the exchange, let me see the contract
Exposure
2023-02-04
haidang255
Vietnam
There is no broker that requires a sufficient number of lots to be able to withdraw. This is my money, but why won't the exchange let me withdraw?
Exposure
2023-02-03
Hungnguyen
Vietnam
IB initially introduced promotions about bonuses and fees for me to deposit money, whereby IB said that I would take advantage of the bonus and participate in many profits in 24 hours, so I would definitely not lose money. However, after winning the first few orders, the following orders suffered losses with a large number of lots. Asking IB again, the report is that when the profit rate is reached, the program is over, but at the end, it is not reported, so it is always negative through the loaded capital. After that, IB said to deposit with a negative amount, it will definitely be removed. The promise is that it will be, but every load is negative. IB keeps cutting 1 end. When the negative is almost over, the order will be weighed. The number of orders is very large. Each code 3.4 commands. Up to 100 lots per order. With such a large amount, the account will definitely liquidate because it is not suitable for capital. I told IB that I was new to the game, not familiar with the market and IB led me to liquidate my account. Also encourage me to borrow to put in the order. Until you can't borrow, scare away the bonus to liquidate the account!!!! Should stay away from IB and the platform trying to liquidate KH account like that
Exposure
2022-12-10
Trang ngô
Vietnam
Tried to lead investors to the wrong purpose, their accounts were negative, but investors didn't close all orders and withdrew the bonus money to liquidate their accounts. Even though the bonus is still in the balance, the investor can trade based on that bonus balance. but when you see that the investor uses that bonus amount to make a profit, the balance is increased, then erase all that profit order and withdraw the remaining bonus. TK is always on fire. There's never been a platform like this
Exposure
2022-12-09
Nguyễn Thành96490
Vietnam
scam investors, I deposited 5k but when there was a profit of 9k, it did not allow withdrawal, at first it shows to withdraw, just face up cmnd and place an order 4 hours before the money will return to the account after 4 hours that I placed an order from September 27 to now 3 days and still can't withdraw, last week I placed but the exchange did not approve the order to withdraw
Exposure
2022-09-30
Tay1
Turkey
Big Scam. Can not believe myself. I keep asking myself why I even started trading with them in the first place. Too many troubles with them. Writing this to inform you all to be very careful, looking at my profile closely and name aids it all.
Exposure
2022-09-04
Giang94244
Vietnam
Saleperson from this broker used aggressive tactics to convince me to open small account of $1000. Then a 1-1 IB grew my account with a promising rate, that encouraged me to deposit more to $6000. At that time, the IB instructed me to open high volume trades, which grew my account to an enormous ~ $70000. But then one correction from an open symbol blew my account in a second. Stay away from this broker.
Exposure
2022-08-31
FX695459
United States
I won't stand by and let these individuals pillage any more people after it all began on me looking for retirement investment platform and played with my emotions. They agreed to accept my investment payment from bank transfer but they insisted that it had never shown on their end. It wasn't until the assetsclaimback@ com intervened to open the door for the return on investment that I was able to confirm whether they had actually received the payment. The zeno markets is not what they say it is, so exercise caution i still wonder till today how they create fake website and increase investment from their platform
Exposure
2022-08-17
Gary145
Australia
after investing in this platform and making profits from the trades done with the deposits , the time to withdraw came and I was denied access to withdraw severally. my suppose to be account manager requested a top up on my account portfolio and being a novice I listen to all her advice until it got to a point I realized this is looking like a scam which resulted into actions taken personally and unknown to my account manager , the background investigative actions of Fintrack/org revealed the irregularities on the part of Zeno and how they have been redirecting all deposits and trading investors funds secretly in the market for their own selfish gains . my early complaints to Fin track and suspicion of Zeno saved my investment
Exposure
2022-08-17
FX6845073
Singapore
At first, I put my money in the Zeno market afterwards, I took out pricey consumer loans and a mortgage in addition, I also took my salary and invested with them. I ultimately lost $79,000.
Exposure
2022-08-16
FX6845073
Singapore
Never trust Zeno market ever. Somehow, they had to have been involved in these random locks and hacks. I trusted them when I initially started trading. During a hack, my wallet was taken, and i immediately realized a harsh lesson.
Exposure
2022-08-16
FX3343208952
Vietnam
I'm a new investor, I don't know anything about the stock market, but after following ib's phone calls for months, after consulting, I found it reasonable, I agreed to open a $500 account to earn extra income, when I opened a new account. 1:1 support called me in capital to buy shares, I heard 10K, but when I entered the village to beat the village from stocks to gold, silver, money, all big lots and never cut loss instructions, when there is a strong fluctuation, call is nowhere to be seen, when it is too negative, only balance the order, there is a suspended order for a whole month with no response, there is more than 1 month of overnight fees up to nearly 3k dollars, when there is a problem, the call is not found, until the negative account was close to the balance, I asked for more capital to remove it, because the psychology of losing money was too fast, so I borrowed money to continue, and after 3 days, it was close to burning. Whenever the capital is close to not being able to trade again, someone claiming to be a senior manager calls to urge in capital and make sure to save the account when it comes to the next capital. while on 3 times they all liquidate. The 3rd time was the last time, because I couldn't enter anymore, I decided to cut off the sound of 1 order balance of 1 code and in accordance with the intended trend, which was decreasing, the manager immediately called to re-balance the hold order. vowel. do not cut and wait for the next capital for processing. At that time I was completely dependent and did not understand, but when I did, it was too late. I put my trust in the wrong place, hope wise investors boycott and stay away from this platform!
Exposure
2022-08-14