General Information & Regulation
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 with registration number 26368 that claims to provide its clients with various tradable financial instruments with leverage up to 1:500 and variable spreads from 0.1 pips on the MT4 for Windows, iOS and Android trading platforms, as well as a choice of three different live account types. Here is the home page of this brokers official site:
As for regulation, it has been verified that Zeno Markets does not fall under any valid regulations. That is why its regulatory status on WikiFX is listed as “No License” and it receives a relatively low score of 1.14/10. Please be aware of the risk.
Negative Reviews
Some traders shared their terrible trading experience on the Zeno Markets platform at WikiFX. They said this platform is a scam and they were unable to withdraw. It is necessary for traders to read reviews left by some users before choosing forex brokers, in case they are defrauded by scams.
Market Instruments
Zeno Markets advertises that it offers access to a wide range of trading instruments in financial markets, covering forex, CFDs, indices, commodities, precious metals, energy, futures, equities and cryptocurrencies.
Account Types
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. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.
Spreads & Commissions
Zeno Markets claims that different account types can enjoy quite different spreads and commissions. Specifically, the spread starts from 1.4 pips, 0.6 pips and 0.1 pips, and the commission is zero, $10 per lot and $6 per lot on the Standard, VIP 1 and VIP 2 accounts separately.
Trading Platform Available
Platforms available for trading at Zeno Markets are MT5 for Windows, iOS and Android. In any case, we recommend using MT4 or MT5 for your trading platform. Forex traders praise MetaTrader's stability and trustworthiness as the most popular forex trading platform. Expert Advisors, Algo trading, Complex indicators, and Strategy testers are some of the sophisticated trading tools available on this platform. There are currently 10,000+ trading apps available on the Metatrader marketplace that traders can use to improve their performance. By using the right mobile terminals, including iOS and Android devices, you can trade from anywhere and at any time through MT4 and MT5.
Deposit & Withdrawal
Zeno Markets says to accept deposits via local bank transfers, credit cards, wire and cryptocurrencies. The minimum initial deposit requirement is said to be as high as $500, while there is no mention of what the minimum withdrawal amount is. As for the processing time of deposit and withdrawal requests, Wire requests 5 days to be processed, while others are instant.
Customer Support
Zeno Markets customer support can be reached by 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.
Risk Warning
Online trading involves a significant level of 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.
