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The WikiFX Score of this broker is reduced because of too many complaints!

Zeno Markets

Saint Vincent and the Grenadines|2-5 years|
White label MT5|Regional Brokers|High potential risk|

https://zenomarkets.com/

Website

Rating Index

MT4/5 Identification

MT4/5 Identification

White Label

1
Server Name
ZenoMarkets-MT5 MT5
Server Location United Kingdom

Contact

+1 784 488 7328
support@zenomarkets.com
https://zenomarkets.com/
Suite 305, Griffith Corporate Centre, Beachmont Kingstown, P.O. Box 1510, St. Vincent and the Grenadines
The WikiFX Score of this broker is reduced because of too many complaints!

Licenses

No valid regulatory information, please be aware of the risk!

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Contact number

English

+1 784 488 7328

English

+44 0203 872 4455

English

+852 3701 1783

English

+60 19 877 4752

Other ways of contact

Broker Information

More

Company Name

Zeno Markets Ltd

Abbreviation

Zeno Markets

Platform registered country and region

Saint Vincent and the Grenadines

Company website
Twitter
Facebook
Instagram
Linkedin

Pyramid scheme complaint

Expose

Check whenever you want

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Warning: Low score, please stay away! 2
Previous Detection : 2024-07-12
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of the complaints received by WikiFX have reached 16 for this broker in the past 3 months. Please be aware of the risk and the potential scam!

WikiFX Verification

Zeno Markets · WikiFX Survey

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Pyramid scheme complaint
Expose
Resolved

Lured into high volume trades then burn-out

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.

2022-08-31 12:21
Scam

Lead customers to deposit and liquidate tk

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

2022-12-10 19:48

    Zeno Markets · 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.

    Zeno Markets

    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

      There are many alternative brokers to Zeno Markets depending on the specific needs and preferences of the trader. Some popular options include:

      • 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.

    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.

    Market Instruments
    Market Instruments

    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.

    Account Types

    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.

    Trading Platforms

    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.

    Deposits & Withdrawals

    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.

    Customer Service
    Customer Service

    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.

    User Exposure on WikiFX

    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.

    News

    Victim's Nightmare with Zeno Markets Broker

    ExposureVictim's Nightmare with Zeno Markets Broker

    2024-07-05 18:21

    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.

    WikiFX
    2024-07-05 18:21
    Exposure
    Victim's Nightmare with Zeno Markets Broker
    In its 2022 Review, Online Broker Zeno Markets Demonstrates Spectacular Features.

    NewsIn its 2022 Review, Online Broker Zeno Markets Demonstrates Spectacular Features.

    2022-04-14 18:22

    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.

    WikiFX
    2022-04-14 18:22
    News
    In its 2022 Review, Online Broker Zeno Markets Demonstrates Spectacular Features.

    User Reviews

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    User comment

    7

    Comments

    Write a review

    FX1369837468
    more than one year
    Do not trust Zeno Markets or you will regret it very much! This company is a complete scammer. Other victims and I have called the police, but there is little hope to recover our losses.
    2023-03-13 18:32
    Reply
    0
    0
    Trang ngô
    more than one year
    too bad
    2022-12-09 09:54
    Reply
    0
    0
    trung910
    more than one year
    scam
    2022-11-10 15:53
    1
    0
    0
    phongnatra
    more than one year
    How is this floor?
    2022-11-04 11:33
    Reply
    0
    0
    Phạm Trung Hiếu
    more than one year
    find floor pl
    2022-10-17 13:38
    Reply
    0
    0
    Nguyễn Thành Công12523
    more than one year
    Any brother or sister who is having negative money here call 0971258550 this guy will support everyone to withdraw money
    2022-10-04 12:41
    Reply
    0
    0
    22
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