Read our Zaix review to see if we recommend this broker for trading. Just to clear doubts, this is an Zaix.com review
This article promises to share helpful review to support clients/traders in making the right decision. Kindly read to the end and make your verdict.
What is Zaix FX?
Zaix FX also known as Zaix.com is an offshore brokerage operated by Zaix LTD with a lot of promises for forex traders. The company openly presented office address in Canada, Malaysia and the Seychelles.
Again, Zaix claims to be licensed by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).
Further, the brokerage promises different instruments like forex, stocks, commodities, crypto, bonds and indices. Also, it presents a zero spread difference in Buy/Sell.
Deposit and Withdrawal
Zaix FX Minimum Deposit:
Zaix deposit is not indicated for clients. In comparison, a licensed FX broker clearly spells out its regulation and license credibility with no string of fraud, and clients can start trading as low as $100 with the assurance of their trading funds.
As for the funding methods, the broker accepts bank transfer and cryptocurrencies.
Just so you know, offshore brokers are commonly known for accepting crypto currencies. For this purpose, payments made through this method are anonymous and can only be traced to a wallet address and not to a specific person. So beware!
Withdrawal process:
Zaix withdrawal FX presents the following information-
Zaix Platform:
Zaix platform uses the industry-standard trading platform MetaTrader 4 (MT4). It should be noted that the presence of a trading platform does not make this website any more legitimate and does not guarantee that this alleged broker offers real trading.
Why use forex brokers with advanced trader like MT4/MT5? You are certain to have the best features of real-time quotes, financial news and various FX and stock charts, as well as algorithmic trading sessions with the help of specially designed trading bots, called Expert Advisors.
The broker offers a leverage of 1:100 level. Honestly, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
Won’t you rather trade with a licensed and legit broker? Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK, ASIC in Australia, NBRB in Belarus, CySEC in Cyprus as well as IIROC in Canada which makes client funds safe. They accept traders worldwide…visit their official website
Things You Should Know about Zaix.com Forex Broker
First of, Zaix.com has no financial authority overseeing its financial services. The institution that licences and supervises forex brokers in this jurisdiction is another – the Investment Industry Regulatory Organization of Canada (IIROC). Zaix is not listed among the companies authorized by this regulator.
A check of the Hong Kong Securities and Futures Commission (SFC) database confirms that there is no authorized broker using Zaix’s trading name and domain.
On MobaTrade’s website, we also see a statement that this broker is certified by the Crypto Conduct Authority. But no such institution exists. The supposed document also mentions only a brand name, but not a company name.
Further, this broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
These are drawbacks for forex traders/ clients to avoid losing money with this scam broker. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
Zaix Licensing and Regulation
It is not far from believing that this broker is not a licensed brokerage firm. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
COMPARE WITH A TRUSTED BROKER
Fortrade
Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website
Bottom Line:
Zaix FX located at Zaix.com claims to appear like a trustworthy trading broker, however, that cannot be trusted. From indications, we would advise traders to steer clear from this broker as it likely a platform run by scammers. Thus, we urge our readers to rely on regulated brokers like this or any licensed entity.
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