With over 25 years of experience in the online trading industry and numerous awards, this company sure leaves an impression of good practice and long tradition.
That is, unfortunately, only until you learn that they’re located in a tax haven and just pretentiously flaunt their offshore registration as if it were a premium license. Before you decide to commit any funds to this unscrupulous scheme, we recommend you read the truth about it in our Zenith CFD review.
| Regulated by: | Unregulated Offshore Broker |
| Is This Company Safe? | No, this firm owns no legit online trading license and can’t guarantee safety! |
| Known Websites: | zenithcfd.com |
| Have Warnings from: | N/A |
| Registered in: | Saint Vincent and the Grenadines |
| Operating since: | 2023 |
| Trading Platforms: | Proprietary (alleged), Web Trader |
| Maximum Leverage: | 1:1000 |
| Minimum Deposit: | $100 |
| Deposit Bonus: | No |
| Trading Assets: | Share CFDs, Forex, Crypto, Commodities, Indices |
| Free Demo Account: | No |
| How to Withdraw from This Company? | Be ready to deal with payout issues with these cons. If you can’t pull your investment out, contact our legal experts for help. |
Offshore Registration is Meaningless
Like the vast majority of dubious trading platforms, the Zenith CFD broker also established their business in the SVG. This small island nation is perceived as a tax haven for illicit Forex dealers because they do not regulate securities market participants, according to their own public notice. That’s why this broker’s registration with SVGFSA is useless in terms of fund safety, protection, compensation options and risk-reduction measures.
In addition to that, the firm itself is not regulated by any esteemed authority, such as FCA, ASIC, NFA or BaFin. That includes DFSA, since the firm’s public profiles on social networks claim they operate from Dubai, UAE. So, is Zenith CFD legit or not? The answer is negative – the business is a total fraud like Bitcode Prime that claims to offer advanced AI trading but only steals deposits.
Everyone is a Pawn in the Scam Game
The absence of any Zenith CFD reviews on popular sites like Trustpilot and others is another evidence of the company operating under the radar.
They do, however, appear to be particularly interested in promoting their bogus service to these nations since November 2023:
- United Arab Emirates
- Spain
- Australia
Despite what the statistics show, the frauds don’t care much where their victims come from, as long as they deposit. To make sure they reach a wider circle of end users, the con artists have registered for popular social networks, such as Instagram, LinkedIn and YouTube.
Using these platforms, they market their fake online trading services and claim to provide competitive trading conditions, guaranteed returns, and stable income.
Tight Spreads & Flexible Leverage Lies
Before you sign up for Zenith CFD login, you should make sure your broker-dealer is providing competitive trading conditions, within regulatory limits. Speaking of leverage, that shouldn’t be more than 1:30 and 1:50, depending on the regulator. However, the available ratio on this site is 1:500, which is characteristic of illicit firms. When registering for a new account, users can actually choose leverage of up to 1:1000.
Spreads are described as tightest on the market, but they’re completely unrealistic. These range from 1.5 pips to 0.0 pips. Commission on the other hand isn’t disclosed, and neither are other costs like withdrawal fees.
Bogus Trading Environment
Considering that the Zenith CFD owner is not known, the company has no license, and the legal papers are not disclosed, this site simply can’t be trusted.
The entire trading system is a simulation provided for the unscrupulous goals of swindlers. The defunct software, high deposit requirements, and risky trading terms are solid proof of that.
Web Trader is Out of Order
Please refrain from downloading a suspicious file directly from the website, which allegedly contains the Zenith CFD app. If this was a legit online trading portal, their app would be listed in famous online stores. This suspicious software could be malware that serves to defraud unsuspecting victims.
Furthermore, the web app that should be available is not loading and is completely inaccessible. That is one red flag that should make you immediately quit this platform.
FX and CFD Markets to Trade
If we were to trust the online claims, this site would appear to be a premium CFD provider. Sadly, this remains just an unproven statement and a part of false advertising since we couldn’t confirm any of these products’ availability:
- Share CFDs – Meta, Apple, Amazon
- Forex – GBP/USD, USD/CAD, EUR/USD
- Indices – 100GBP, D30EUR, SPXUSD
- Commodities – UKOil, Gold, Silver
- Crypto – BTC, XRP, SHIB
Account Types and Service Compared
Every Zenith CFD account is adjusted to a certain category of traders. While one provides swap-free service without commission, other demands trading commission to be paid, while the last one encompasses what the average retailer prefers.
Now, all that would be nice and dandy if this is a regulated broker we’re reviewing and not a common fraud. Nonetheless, take a look at the deposit requirements and decide for yourself if the service is worth it:
- Advance – $ 10,000
- Standard – $ 100
- Swap Free – $ 1,000
Free Fast Transfers? Improbable
Conducting business with illicit firms like this one and Time Markets, for example, is expected to involve various issues. The site’s lack of transparency is alarming because none of the concrete Zenith CFD withdrawal conditions were revealed.
It is said that the transactions are conducted via:
- Bank transfer
- Bitcoin
- Ethereum
- Bizzcoin
Yet, none of the methods is explained in detail, and neither are costs and processing time clarified.
Support Nowhere When Needed
This particular con artist is aware of the fact that customers usually like to hear that customer support is available 24/7. Therefore, this site also claims to provide the same service. However, when we tried to learn more about communication channels, none were available!
Stay Away From This Portal
Forex providers that don’t meet regulatory requirements and standards can’t be expected to provide the service they advertise. There’s a huge disparity in regards to what they claim to sell and what they can actually offer you. That’s why we’re confident about this concrete broker being a textbook fraud that should be avoided.
If you need support with tracing crypto transactions or disputing a payment, feel free to contact our fund recovery crew of legal professionals and chargeback experts.
FAQ Section
What is ZenithCFD?
ZenithCFD is a fraudulent entity that doesn’t appear in any regulatory databases and doesn’t provide the services they advertise so eagerly. Therefore, contact us in case of withdrawal issues.
Is ZenithCFD Legit?
Being registered solely with SVGFSA isn’t enough and the business doesn’t have a premium trading license.
Who Owns ZenithCFD?
Zenith CFD Ltd is said to be the owning company. They’re registered in Saint Vincent and the Grenadines.
Source:
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