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Zentrader Review - is it scam or safe?

Zentrader Review - is zentrader.com scam or good binary options broker?

RATING: 1 / 0 REVIEWS Zentrader
Zentrader is not regulated. We cannot guarantee your money is safe.

Trading Accounts and Conditions

 

Trading account Min. deposit  Expiry times Payout
Standard  $50 30 sec. to 1 day up to 90%

 

Zentrader is a binary options broker that offers trading in currency pairs (forex), equity indices and commodities on some web-based platform. Yet, its offer is rather unclear and we don’t recommend it. Read on to understand why.

 

 

Zentrader Advantages

 

Reasonable min. deposit, high payouts promised

Allegedly, one can open an account with Zentrader by depositing just $50. Such initial investment is not high and almost everybody can afford to sign up. Besides, the payout on EUR/USD Call/Put options seems to be as high as 90%, and the broker promises even higher returns on some short-term options, reaching 200%.

 

 

Zentrader Disadvantages

 

Misleading regulatory information, not licensed

Zentrader is a brand owned and operated by ZT Markets Limited, a company with registered address on Saint Vincent and the Grenadines (SVG). This is an offshore zone that is quite popular among forex and binary options brokers, as taxes are low, registration is easy and low-cost and registered businesses don’t have to meet any regulatory requirements. From a trader’s point of view, however, investing is such a broker is extremely risky.

 

 

What are the risks of trading with offshore forex brokers?

 

 

That being said, it seems that Zentrader tries to mislead investors that it is authorized by the Australian Securities and Investments Commission (ASIC). Although the broker does not explicitly state this, it mentions ASIC on its website and explains the advantages of its financial regulation. What is more, the broker goes as far as claiming that all clients’ funds are held safely in top-rated Australian banks.

 

 

In fact, Zentrader is not licensed by ASIC, nor any other financial authority and is not obliged to keep clients’ money in segregated accounts, nor to maintain certain capital adequacy level, or to be a member of a dispute resolution scheme.

 

 

>> Trade with a real ASIC-regulated broker <<

 

 

No clarity on trading accounts, no demo, unrealistic returns

The only trading specifics announced on Zentrader’s website are the minimum investment the broker requires and the maximum payout of 200% it promises. The company has not specified the average payouts for the most popular options, nor the minimum bet size, or whether there are different account types. What is worse, the broker does not offer free demo accounts which is yet another worrisome sign, typical for scam brokers.

 

Furthermore, returns as high as 200% are too good to be true. Investors should be especially wary of such unrealistic offers of guaranteed, fast and easy returns. A general principle in trading is that the possibility of higher returns brings along greater risk.

 

No long-term options

Zentrader offers trading in options that are mostly short term – from 30 sec to 24 hours. Most traders will do better if they start out with longer term options which last a few hours or days, and then work their way up to 30/60 seconds.

 

 

Conclusion

 

The fact that Zentrader lacks any regulatory oversight is worrisome, but what is most alarming is that the broker tries to mislead (potential) clients that it is under the financial oversight of ASIC. The forex and binary options market is full of scammers.

 

In an attempt to enhance consumer protection, ESMA has prohibited binary options trading throughout Europe and the EEA and has restricted retail forex trading in many ways. As a result, there have remained no reliable regulators in the binary options industry. Previously, most regulated binary options brokers were holding licenses from the Cyprus Securities and Exchange Commission (CySEC).

 

That being said, our advice is to select a well-regulated forex broker to deal with. There are many such financial services providers that are licensed and have proved to be reliable.

 

To sum up our review on Zentrader in a few words:

 

Pros Cons
Reasonable min. deposit Misleading regulatory information, not licensed
High payouts promised Trading conditions not that clear, unrealistic returns
  No long-term options, no demo

 

Latest news about Zentrader
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Traders` reviews for Zentrader

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