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Zend Trade Review - is it scam or safe?

Zend Trade Review - is zendtrade.com scam or good forex broker?

RATING: 1 / 0 REVIEWS Zend Trade
Zend Trade is an offshore broker. Your money is not safe.

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Trading Accounts and Conditions

 

Trading account Min. deposit Min. trade size  Max. leverage  Spread
Standard N/A N/A N/A N/A

 

Zend Trade presents itself as a forex and CFD broker that uses the MetaTrade4 platform. Unfortunately, it has not disclosed any of its trading conditions. It only becomes clear that the broker offers managed trading accounts.

 

Read on to get all the details and understand why we gave Zend Trade such a low rating.

 

 

Zend Trade Advantages

 

Claims to support the MT4

In our opinion, the only possible advantage of using Zend Trade is that it allegedly uses the popular MetaTrader4 platform (MT4).

 

This piece of trading software has proved to be reliable, fast, and user-friendly. The MT4 is very popular for its automated trading bots, known as Expert Advisors, as well as for its superior charting, among other features.

 

However, the website of Zend Trade does not provide a free downloadable version of the MT4 and such is not available after you sign up with this broker either. So, we cannot be sure that the broker relay supports it.

 


>> Extensive list of brokers offering MT4 <<

 

 

Zend Trade Disadvantages

 

Not regulated, warning against it

Zend Trade is operated by Zend Trade, Inc., a company allegedly located in the USA. The website of the broker mentions nothing about regulation, as is the case with many other brokers operating without a license.

In our reviews, we keep reiterating that if you choose to deal with an unregulated broker, your entire capital is at risk. Most such brokers are con-artists that simply take your money and offer nothing in return.

 

What is worse, we found out that New Zealand’s Financial Markets Authority (FMA) has blacklisted Zend Trade. The regulator stated that Zend Trade has the characteristics of a scam, including offering unrealistic returns and withholding client funds. Considering the above, you’d better not waste your time and money with this broker.

 

Trading conditions not disclosed

As we mentioned in the beginning, this broker has not specified its target spreads, nor the leverage it provides, or any other trading specifics. Such lack of clarity and transparent pricing is yet another red flag with regards to Zend Trade.

 


 >> Compare  spreads of top brokers in real time <<

 

 

Unproven web “platform”

The web trading platform we got access to after signing up with Zend Trade is yet another part of its “offer” that only makes us more certain this broker is a fraudster. The “platform” feels like a cardboard cutout with quotes from some major brokers like FXCM and charting powered by TradingView. Here is a preview:

 

 

Zend Trade’s platform. Click to zoom in.

 

Managed trading offered

One of the few things that are clear regarding Zend Trade is that it provides managed trading accounts. Such a service by definition requires a very strict regulatory regime, as it creates great potential for conflict of interest.

 

In case you are inexperienced and would rather follow someone else’s trading choices, you may take a look at the offering of social trading platforms like ZuluTrade or eToro.

 

 

Conclusion

 

Zend Trade is an unregulated broker, whose offer is very unclear. On top of that, it was entered in NZ FMA’s list of suspected scams, so it is more likely a con artist and we recommend that you stay away from it.

 

Unfortunately, the forex trading world is full of investment scams. The only way to stay safe is to only deal with brokers licensed by reputable financial regulators, that have set strict rules guaranteeing the investors’ safety of funds. That being said, one of the most trustworthy authorities is the UK’s Financial Conduct Authority. You can find more information about regulation in the UK, as well as a list of licensed brokers below:

 

 

>> Trade with a FCA-regulated broker <<

 

 

To sum up the above:

 

Pros Cons
Claims to support the MT4 Not regulated, blacklisted by NZ’s FMA
  Trading conditions not disclosed
  Unproven web “platform”
  Managed trading offered

 

Latest news about Zend Trade
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Traders` reviews for Zend Trade

Spread

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Slippage

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Requotes

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Price feed

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Platform

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Deposit/Withdraw

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Customer service

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Summary

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