Fx Zen review – 5 things you should know about inlandfx.org

Fx Zen review – 5 things you should know about inlandfx.org

Rating: 1

Beware! Fx Zen 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.


Fx Zen promises us the best trading conditions for currencies, commodities and other financial instruments. But this website does not provide us with any convincing evidence that it represents a legitimate forex and CFD broker. We have every reason to believe that this website is yet another online scam that should be avoided. Let us see exactly why this is the case.


Legitimate forex brokers provide clear and detailed information about the legal entity that owns and operates them, where it is based, what licences it has and which regulators oversee its activities. Lack of such details or improper presentation of them are always a red flag that we are probably dealing with a scam.

Fx Zen does not disclose which company is behind this alleged broker. No links to Terms and Conditions, Customer Agreement, Privacy Policy or other legal documentation as required by licensed financial service providers can be found on the website.

According to the contact address, the unnamed company is based in an offshore zone – Seychelles.

There is no information about a registered forex broker using the brand name Fx Zen or the domain name inlandfx.org in the Seychelles Financial Services Authority (FSA)  database. But even if the owner of this saturation website is based there, this does not provide clients with any meaningful guarantees and rights.

This lack of information simplifies the decision of whether or not to trust your money to the Fx Zen. It would be very unwise to do so when you know neither who you are dealing with nor what terms you are agreeing to.

If you have decided to invest in financial instruments, and especially if you are a novice trader, you should use the services of a licensed broker based in a jurisdiction with strong regulations.

Depending on your location, it is advisable to choose a company that is regulated by an institution such as Commodity Futures Trading Commission (CFTC) in US, Australian Securities and Exchanges Commission (ASIC), UK’s Financial Conduct Authority (FCA) or some EU regulator like Cyprus Securities and Exchange Commission (CySEC).

Clients of these brokers receive protections such as negative balance protection and segregation of the client’s funds from the broker’s funds.  In the EU and the UK, brokers must also participate in guarantee schemes that cover a certain amount of the trader’s investment if the broker becomes insolvent. These guarantees amount to up to 20 000 EUR in the EU and 85 000 GBP in the UK. However, the likelihood of such a bankruptcy is low because regulators also have significant net capital requirements that companies must maintain – EUR 730 000 in UK and Cyprus, AUD 1000 000 in Australia and at least 20 million USD in the United States.


The Fx Zen website promises the most popular platform among brokers and traders worldwide – MetaTrader 5 (MT5). But the website lacks active download links for this application. At the time of writing this review, the forms for registering a new account and logging into an existing one were not active. Therefore, we were unable to confirm whether registration provides access to any trading software.

It is advisable to contact one of the many legitimate brokers that offer MT5 or the still very popular MT4. These platforms have established themselves as leaders because they offer a wide range of features, including a wide variety of options for customization, multiple account usage, designing and implementing custom scripts for automated trading and backtesting trade strategies.


The description of the terms of trade on the Fx Zen  website contains contradictions, which is another red flag that we are dealing with scammers.

The description of trading account types states a maximum leverage of 1:500, but the home page of the website promises an even higher level, 1:1000.

This is not a level that you see with regulated brokers. Trading with high leverage allows higher profits, but also increases the risk of sudden and excessive losses proportionally. All leading regulators limit leverage for retail traders. In the EU, UK and Australia the maximum permitted level is 1:30 and in the US it is 1:50. This maximum level only applies to trading major currency pairs, with even more limited leverage for more volatile assets.

Fx Zen also claims to offer bonuses for new customers. This is another practice prohibited to regulated brokers. Fraudsters often use supposedly generous bonuses to bind potential victims to unfavourable and predatory terms.

Fx Zen promises standard spread levels below 2 pips, but we have no reason to believe that this website offers real trading. The stated minimum deposit is 100 USD. For the same or even lower amount you could open a starter account with a licensed broker, including some of the industry’s leading brands.


The lack of information on the Fx Zen  website also affects payment methods as well as deposit and withdrawal fees and terms.

Experience has shown that fake brokers use cryptocurrencies and shady payment processors to deprive their victims of the ability to claim refunds or chargebacks.

Legitimate brokers typically offer clients a wide choice of transparent payment methods, including bank transfer, credit/debit cards and established e-wallets such as PayPal, Skrill, Neteller or QIWI. If you’re interested in legitimate brokers that accept digital currency payments alongside conventional methods, check out this list.

The lack of a publicly available Terms and Conditions or Client Agreement means that scammers may have set many traps such as hidden fees and impossible-to-meet  withdrawal terms.


While browsing the interwebs there is a significant chance you will come across comments, videos, social media pages that promise easy ways to passively make money. If you follow the links you will be taken to websites claiming to be legitimate brokers or investment firms. And if you take the next step and make contact with the people behind these websites, you will be contacted by slick and experienced scammers who will lure you in with promises of easy profits. For a while they will convince you that your investment is generating impressive returns and you need to pour in even more money to make sure you don’t miss out on this once in a lifetime opportunity.

However, the attitude towards you will be changed if you want to withdraw your money. Suddenly, it will turn out that your investment makes losses and you even owe money to the fake broker for unexpected fees and expenses. They will show you clauses hidden in the Terms and Conditions, according to which you can only withdraw money after you have traded an impossible minimum volume, or that you will have to pay withdrawal fees of 20%, 30% or even more. When you try to hold them accountable you will find they are using fake names and shell companies in shady offshore jurisdictions without any regulatory oversight.


Your options to recover your money are limited. If credit/debit cards were used for the transactions, you have the possibility to request a chargeback. But most scammers insist that you send them proof of identity and address with which they can dispute that the transactions were legitimate. Fraudsters also predominantly use cryptocurrencies, where refunds are impossible.

You should also be aware that there are many scammers who offer to recover your money for an upfront fee. You should not trust such offers. It is better to contact the relevant authorities in your country and warn them about the activities of the scammers.

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