Zentrader Review – 5 things you should know about zentrader.com

Zentrader Review – 5 things you should know about zentrader.com

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Beware! Zentrader is an offshore broker! Your investment may be at risk.

Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.


Zentrader is an offshore binary options broker. Unfortunately we were not able to open a demo account and check their web based trading platform. Still, from the screenshot of the platform on their web site we understand they are offering bets on currency pairs, stocks, indices, commodities and crypto coins, including Bitcoin, Bitcoin Cash, Bitcoin Gold, Ripple, Ethereum, Ethereum Classic, Zcash, Monero, Dash and OmiseGo.

Also, Zentrader promises payouts of up-to 200% on 30 second investments, which in our view is unrealistic.

And besides, have in mind that in the beginning of July the European Securities and Markets Authority (ESMA banned all binary options bets throughout the European Union, while similar banns are already in place in the US and Japan.

All that said, our biggest concern about Zentrader, however, remains its regulatory status.

Zentrader regulation & safety of funds

Zentrader, which is owned and operated by ZT Markets Limited – a company based in St. Vincent and the Grenadines, claims to hold a license by the local Financial Services Authority of Saint Vincent and the Grenadines (FSA). FSA, however, simply does not regulated forex, CFD or binary options brokers, so even if Zentrader is registered with the FSA, that does not mean it is regulated.

And keep in mind that while proper regulation is the single most important factor for the safety of any investment, you can trust brokers only if they are regulated by a respectable institution, such as the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC) or the Cyprus Securities and Exchange Commission (CySEC).

Besides, the UK, Australia and Cyprus are perhaps the most popular regulatory hubs for forex industry globally, because of the strict and yet business friendly regulatory regimes enforced by FCA, ASIC and CySEC.

Here are some requirements, common with all three regulators:

All licensed brokers, should file regular reports, allow external audits, provide a negative balance protection to traders, keep their deposits in a segregated account, maintain a certain minimum capital adequacy ratio and in the case of FCA and CySEC should participate in a client compensation schemes.

Thus, the Financial Services Compensation Scheme in the UK, which is backed by FCA, insures up to 50 000 GBP of the invested capital, while with the CySEC backed Investor Compensation Fund you will not have to worry about the first 20 000 EUR in your account.

Zentrader regulation deposit/withdrawal methods and fees

Payment options with Zentrader include major credit cards like Visa and MasterCard, Neteller – an e-wallet, and local bank transfers. The minimum deposit requirement is set at 50 USD.

Here, however, we should note the absence of Skrill. Under its new anti-scam policy the company will offer its services only to brokers holding legit forex licenses – something Zentrader lacks.

How does the scam work?

If you have ever wondered, how so may people manage to get scammed, you may be curious to know about the so called robo scam websites like Crypto Revolt and Bitcoin Evolution. They are basically all about a nicely cut short video promoting some ingenious trading app or a platform with a promise of fast, easy and risk free money. And all you have to do is register and leave your e-mail and phone.

And we call those sites robo – scam websites, because they are not brokers, but just traps for gullible investors. The robo- scam websites sell their victims to real scammers for a commission. So if you register with a robo scam website, you will be instantly transferred to the web page of an offshore, unregulated scam broker, where you will be invited to deposit about 250 USD.

And initially trading might seem like a lot of fun – the profits will be astonishingly good and the money in your account will almost double. That, however will be a result of a manipulation as scammers will surely like to hook you to invest a much larger sum.

Also, that is about the time you will receive a phone call as well. It will be form your “senior account manager or adviser”, who will basically explain, that if you want to make some real money you will definitely have to invest more – at least 10 000 USD.

And next, you will not know that you have been scammed until the moment you decide to withdraw some of your funds. Scammers will refuse your withdraw request on the grounds you have not met some minimum trade volume requirement. Certainly, the pretext might be different, but the result the same – you will not see a single penny back.

What to do if scammed?

The only chance to get your cash back is to file for a charge back with your credit card provider. And besides, you will be able to do that within 540 days, if you have deposited your money with VISA and MasterCard as this is their new anti-scam policy.

Scammers might have tricked you to give them your credit card number or online backing password. If you have made that mistake, immediately block your credit card and change your password.

And never trust the so called recovery agencies. They will just make you send them some money in advance and that will be the end of the story.

Top Forex Brokers

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Cyprus, SVG4.8/5$100 Click for a special offerWebsite

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