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ZKTrade

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Operating status: SCAM

Website: https://zkmt4.com/

Broker violations and abnormal records
  • 2022-03-17 BrokersView has reviewed that ZKTrade is an unregulated forex broker

    ZKTrade shows it was established in 2005 and won some awards in 2019 and 2020 as an industry leader. However, domain check results showed it was newly created in 2021. How it can win awards in 2019 before its foundation? Thus, there is the highest possible level of caution for you when dealing with ZKTrade.

    The scam says to be based in the UK in its “Financial Service” but claims to provide traders with forex trading services with an ASIC License(License Number: AFSL 246943). In any case, there is a clear indication that something is not quite right as its headquarters is in the UK but a license is from Australia.

    To verify the doubts, we did check whether the broker is present in the registry of the UK watchdog - FCA, and no results relating to ZKTrade appeared there. Meanwhile, there is an investment and wealth management company named ZANK CAPITAL LTD (Zank & Co), which is licensed in Australia under the ASIC License Number AFSL 246943, but they have nothing in common with the fraud we are currently talking. Moreover, the ASIC-licensed reliable broker doesn’t provide currency investment service. That is to say: ZKTrade  is currently not regulated or not overseen by any financial regulator. Therefore, we can conclude that ZKTrade is a scam.

    ZKTrade shows it was established in 2005 and won some awards in 2019 and 2020 as an industry leader. However, domain check results showed it was newly created in 2021. How it can win awards in 2019 before its foundation? Thus, there is the highest possible level of caution for you when dealing with ZKTrade.The scam says to be based in the UK in its “Financial Service” but claims to provide traders with forex trading services with an ASIC License(License Number: AFSL 246943). In any case, there is a clear indication that something is not quite right as its headquarters is in the UK but a license is from Australia.To verify the doubts, we did check whether the broker is present in the registry of the UK watchdog - FCA, and no results relating to ZKTrade appeared there. Meanwhile, there is an investment and wealth management company named ZANK CAPITAL LTD (Zank & Co), which is licensed in Australia under the ASIC License Number AFSL 246943, but they have nothing in common with the fraud we are currently talking. Moreover, the ASIC-licensed reliable broker doesn’t provide currency investment service. That is to say: ZKTrade  is currently not regulated or not overseen by any financial regulator. Therefore, we can conclude that ZKTrade is a scam.
  • 2022-07-07 BrokersView has found that ZKTrade is not working

    On 8 Jul 2022, BrokersView found the domain https://zkmt4.com/ is not working, as most probably it was suspended and it is always a bad sign when broker's website is suspended.

    On 8 Jul 2022, BrokersView found the domain https://zkmt4.com/ is not working, as most probably it was suspended and it is always a bad sign when broker's website is suspended.

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Risk Warning:

FX trading is of high risk and may not be suitable for all investors. Leverage will create additional risks and loss. Before trading, please carefully consider your investment objectives, experience level and risk tolerance. You may lose part or all of your initial investment; do not invest money that you cannot afford. Educate yourself about the risks associated with FX trading. If you have any questions, please consult an independent financial or tax advisor. Any data and information are provided "as is" and only for information purpose, not for trading or recommendations. Past performance does not predict future results.

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