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Anzo Capital Review - is it scam or safe?

Anzo Capital review - Is anzocapital.com scam or good forex broker?

RATING: 2 / 0 REVIEWS Anzo Capital
Anzo Capital is an offshore broker. Your money is not safe.

RECOMMENDED FOREX BROKERS


Anzo Capital is a forex and CFD broker offering a variety of currency pairs on the MetaTrader4 platform. The company is based in Belize. You can find more about the trading conditions they offer in the following review.

 

Account type Min. deposit Max. leverage Spreads
STP Account $100 1:500 2,2 pips
ECN Account $500 1:500 0,1 pip*
*commission

 

Anzo Capital Advantages:

 

Leverage of up to 1:500

 

Anzo Capital gives its clients the option to trade with leverage as high as 1:500, which is more than enough to accommodate even the most aggressive trading strategy. And while higher leverage may help you score good profit with relatively small deposits, leverage is also associated with a higher risk of loosing your funds on a much faster pace. No wander professional traders rarely use leverage exceeding 1:100.

 

Variety of currency pairs

 

Anzo Capital offers some 45 forex pairs, including exotic currencies like South African Rand, Turkish Lira, Singapore Dollar, Swedish Krona, Polish Zloty Norwegian Krone, Mexican Peso, Hungarian Forint, Honk Kong Dollar, Danish Krone and Chinese Yuan. The broker also offers some CFDs on precious metals like silver and gold, commodities like oil and 11 indices. However, as we do not see any crypto assets, you may want to check our list of brokers offering Bitcoin CFDs:

 

>>Bitcoin Forex Brokers<<

 

Various payment methods, including popular e-wallets

 

You can deposit and withdraw funds with Anzo Capital, using all major credit and debit cards like VISA and MasterCard, bank wire and e-wallets like WebMoney, FasaPay, QIWI, UnionPay, Yandex, DragonPay and MyBitWallet. However, we miss SkrillNeteller or PayPal and there is no option to pay with Bitcoins. So you may check our list of brokers, accepting Bitcoins as well:

 

>>Forex Brokers Accepting Bitcoin<<

 

Acceptable minimum deposit requirement

 

You can open a starting STP account with  Anzo Capital with 100 USD and that is in line with the market average. For the premium ECN account, however, you should invest at least 500 USD. Also, keep in mind that some major brokers like FBS and IG do not have a minimum deposit requirement at all.

 

MetaTrader4 supported

 

With Anzo Capital you may choose between a web based, mobile and a standard PC version of the well known MetaTrader4 – a platform of choice for professional and beginner traders alike.  Among others, the MT4 features the option to run automated trading sessions with the help of specially designed trading bots – Expert Advisors, which can be easily modified on a proprietary scripting language – the MQL4. Here you may check our list of brokers, offering MetaTrader4: 

 

>>MT4 Brokers<<

 

The website is supported in various languages

 

You can open Anzo Capital website in English, Spanish, Chinese, Filipinos, Korean, Japanese, Russian, Malay, Indonesian, Polish, Vietnamese and Siamese.

 

Anzo Capital Disadvantages:

 

Actual spreads higher than advertised

 

In its presentation Anzo Capital says with its STP account you will get EURUSD spread floating around 1,8 pips. However, when we tested their platform with a Demo account, the EURUSD spread was fluctuating between 2,1 and 2,2 pips and that is higher than what traders usually expect to see with a standard account. Keep in mind that as a rule, to be competitive spreads should start below 1,5 pips.

 

At the same time with its premium ECN account, Anzo Capital advertises spreads as low as 0,1 pip. Here however, the broker takes a commission of 7 USD per traded lot, which basically adds another 0,7 pips to the spread, if the second currency of the pair is USD. Still here you may check our list of brokers, offering tighter spreads:

 

>> Lowest spread forex brokers<<

 

Liberal regulation

 

This website is owned and operated by Anzo Capital Limited - a company incorporated and regulated in Belize. 

 

The local International Financial Services Commission (IFSC) exercises liberal control over forex and CFD brokers, focusing on promulgation of regulation and a mandatory code of conduct, as well as the licensing process. Compliance-checking, reporting and on-going supervision are little emphasized.

 

Still holding a license by the IFSC is better than being regulated in Vanuatu – a small atoll in the South Pacific -  or not having license at all.

 

And because proper regulation is crucial for the safety of any investment, here we should note that well respected financial watchdogs such as the Financial Conduct Authority (FCA) in the UK, CySEC in Cyprus and the Australian Securities and Investments Commission (ASIC) enforce  strict financial and ethical rules on all supervised entities. 

 

Among others FCA, CySEC and ASIC regulated brokers are obliged to maintain a minimum capital adequacy ratio, to keep all clients money in protected, segregated accounts and in some cases even to insure traders capital. 

 

Under the FCA backed Financial Services Compensation Scheme for example, in case the broker goes insolvent, traders can receive up to 50 000 GBP of their capital back. Similar compensation scheme with CySEC guarantees up to 20 000 EUR of the trading capital. Here you may check our list of brokers licensed by FCA:

 

>>FCA Regulated Forex Brokers<<

 

Conclusion:

 

Anzo Capital offers a good variety of currency pairs with a lavish laverage on the MetaTrader4 platform. And although the minimum deposit requirement is also acceptable, spreads are not exactly what we would call competitive and that, combined with the broker's liberal regulation, weights on the negative side.

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Traders` reviews for Anzo Capital

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