Zeno Markets Review – 5 things you should know about zenomarkets.com

Zeno Markets Review – 5 things you should know about zenomarkets.com

Rating: 1

Beware! Zeno Markets 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.


Zeno Markets might just be an offshore broker trying to attract clients through decent enough trading conditions and the offer of a great trading platform. However, we have out doubts about that – the broker has made some false regulatory claims on its website, and has attached some questionable clauses to its Terms and Conditions that might cost you dearly.


Zeno Markets claims to be both based in St. Vincent and the Grenadines and licensed by the SVGFSA – the local financial authority.

However, no broker can be regulated in St. Vincent and the Grenadines – SVGFSA only monitors the banking sector and does not deal with regulating forex brokers at all (as it has stated on multiple occasions). There are no rules and regulations in the sphere of forex trading, pretty much anyone who sets up a company in the country (which is easy to do) can start offering such financial services without having to meet any sort of requirements. Moreover, money transferred to such offshore locations is more or less untraceable because there are no transaction reporting requirements – which makes things like tax evasion, money laundering, and all other kinds of financial fraud a whole lot easier. This is why many scam brokers have chosen St. Vincent and the Grenadines as the base for their activities. Not all brokers based in the country are scammers but in case they are not a branch of an established international brokerage – which is not the case with Zeno Markets – you should be extra careful. Especially if the broker makes promises of being licensed.

Our advice is to work with brokers licensed in the UK, the EU, or Australia instead. Such brokers are under the supervision of merciless financial regulators they are obligated to report to regularly. There are many requirements meant to ensure fairness, transparency, and client safety. All brokers must prove that they are financially stable before obtaining a license and maintain a minimum operational capital of €730 000 in the UK and the EU, and A$1 million in Australia. Negative balance protection is ensured which means you can never lose more money than you have in your account. Finally, all licensed brokers keep client money segregated from their own funds – which proves that the broker cannot use your investment for its own purposed, and keeps your deposits safe in case the broker becomes insolvent. All of these vital safety nets are only available with legitimate, regulated companies – you can forget all about them if you choose an anonymous, offshore broker.


As promised, Zeno Markets provided access to one of the best trading platforms out there – MetaTrader 5.

This software is suitable for both beginners, and for experienced traders – the platform is user-friendly and intuitive but still offers access to a huge variety of trading tools and features. You could employ Expert Advisors to track markets and trade automatically, purchase VPSs to keep your EAs operating even when your computer is off, develop custom scripts, use a multi-threaded Strategy Tester, set signals for prices going up or down, or subscribe to those set by others, exchange strategies in a community chat, use a built-in economic calendar, and much more.

However, you should be careful – many scam brokers try to use MT5 stellar reputation to their advantage and lure victims with the offer of this great software. That might also be the case here. Better check out these established brokers who offer the software.


The trading conditions of Zeno Markets are reasonably good but still far from impressive. The broker allows you to access a fair number of instruments – forex, indices, commodities, equities, metals, and cryptos. However, the minimum amount of money you would have to invest is $500 – which is far too much in these days of affordable trading. Many great brokers would open an account for $100 or even for much less and offer both full reliability and access to even more trading instruments.

The spreads we got on the broker’s platform were around 1.4 pips on EURUSD – which is pretty good considering the fact that Zeno Markets supposedly does not charge any commissions on your trades. However, we would like to point out once again that this broker is far from reliable and that there are licensed brokers who can offer even better numbers.

The maximum leverage you would be able to trade with is 1:500. And since offshore brokers are free to offer any leverage they decide, it is up to you to be careful and choose the appropriate leverage settings for your experience level. Trading with high leverage could lead to huge losses which is why you should take factors like market volatility and your knowledge into account. However, it could also lead to decent profits if you know how to handle it – here are some established brokerages that offer rates of 1:100.


Zeno Markets supposedly accepts deposits made with a credit or debit card, via wire transfer, or in Bitcoin or USDT. However, because of some malfunctions we could not access the broker’s client area and were only provided with the logging-in details for their MT5 terminal. So we would have to take Zeno Markets’ word on this one. Deposit with this broker at your own responsibility – there is a huge likelihood that you end up trying to retrieve your money. If you have deposited in crypto, that would be impossible – such payments are completely irreversible. However, if you have used a Visa or MasterCard card, you can still ask for chargeback within 540 days.

Zeno Markets charges huge inactivity fees – €160 after 60 days of no trading activity. The fee falls down to €120 later on only to rise again up to €500 after 300 days.

This is an enormous amount of money – even those brokers that still charge such fees would rarely charge you more than a few dollars.

Additionally, Zeno Markets offers bonuses but did not provide us with a Bonus Policy. This is a red flag – many scam brokers use their bonuses as a means of preventing client withdrawals by putting impossibly huge turnover thresholds and raising them every time you get close. Because of a bonus, you might find it impossible to withdraw your profits and deposits – that is why you should always demand access to the full Bonus Terms and Conditions.


Such scams are not only becoming more frequent but they are also surprisingly effective – which is why the first and most important step if you want to protect yourself from them, is to understand how they work.

You stumble upon a broker on the Internet – that broker promises to make you a rich, successful trader in no time. You are curious to see what forex brokers are all about – after all, you have heard stories of people becoming rich by trading – and provide the scammers with your phone number and email. After that, you would not be left alone before you have deposited – these people are seasoned scammers and will convince you to transfer money in no time.

This will not be enough though – the broker will keep asking for more and more money, and since scammers often manipulate profits and platforms, you might even be happy to invest because you would be thinking that you are turning a profit.

Once you try to withdraw, however, the problems will start – the broker will start denying withdrawals because of certain clauses in the Terms and Conditions, because of previously unmentioned fees and taxes, etc. At this point, you will find out that there is something wrong going on – but the scammers will be long-gone with your money before you can do anything.


Do not get desperate and do not employ any so-called “recovery agencies” that promise to track down the scammers and retrieve your money for a fee – this is just another type of scam.

What you should do is notify the responsible authorities in your country and contact your bank to let them know that you have been scammed. Change all your banking passwords and remove all remote access software the scammers had you install under false pretenses – they only wanted access to your computer and your banking systems.

If you have deposited with a Visa or MasterCard card, you might be able to retrieve your money – both card providers allow chargebacks within 540 days of the transaction so contact your card issuer as soon as possible.

Finally, make sure to share your story with as many people as possible to let them know that such scams exist and how they work. This way, others can avoid losing their money in the future.

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