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zfxtrade.com

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How's their reputation? Can I trade with them?
Md Abul Kasem
Mozambique
2022-10-27
ANSWER Zfxtrade.com is not a licensed or regulated broker even though it states offers that look good to be true. Zfxtrade.com claims to be registered with Saint Vincent and the Grenadines Financial Services Authority (SVG FSA) and the Companies House of United Kingdom (CH) under registration numbers 138 LLC 2019 and 11077380. We indeed find match results to Zfxtrade.com in SVG FSA and CH. However, please be informed that neither SVG FSA nor CH regulate forex activities or issue forex licenses. In other words, having registration does not mean being authorized to provide forex services. Zfxtrade.com also claims to be a licensed broker under double regulations of the United Kingdom Financial Conduct Authority (FCA) and the Financial Services Authority of Seychelles (Seychelles FSA) under regulatory numbers 816055 and SD092. We first searched the Seychelles FSA but only found a warning against this broker. You can check the full warning issued by Seychelles FSA from here.Then we searched in FCA but also find a warning against this broker for being a clone firm, FCA states in the warning that zfxtrade.com is a clone firm, which is using the details of FCA-regulated firms to try to convince people that they work for a genuine, authorized firm. You can check the full warning from here.The truth is, Zfxtrade.com is not overseen by any regulators. That means your personal data or your funds in this broker are unsafe and cannot be protected by any law. We would recommend traders stay away from unregulated brokers like Zfxtrade.com and trade with licensed brokers.
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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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