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ZaxMarkets

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Operating status: SCAM

Website: https://zaxmarkets.com/

Broker violations and abnormal records
  • 2023-09-13 BrokersView has Reviewed that ZaxMarkets is an Unregulated Broker

    ZaxMarkets claims to be registered in Financial Services Authority (FSA) of Saint Vincent and the Grenadines, but we don't find any results on FSA of Saint Vincent and the Grenadines matching to ZaxMarkets. What's more, FSA of Saint Vincent and the Grenadines doesn't regulate forex and it is not a regulatory institution. The truth is that ZaxMarkets is not under valid regulation by any regulators to do forex. Investors' funds in this broker are unsafe and cannot be protected by any law.

    ZaxMarkets is a scam.

    ZaxMarkets claims to be registered in Financial Services Authority (FSA) of Saint Vincent and the Grenadines, but we don't find any results on FSA of Saint Vincent and the Grenadines matching to ZaxMarkets. What's more, FSA of Saint Vincent and the Grenadines doesn't regulate forex and it is not a regulatory institution. The truth is that ZaxMarkets is not under valid regulation by any regulators to do forex. Investors' funds in this broker are unsafe and cannot be protected by any law.ZaxMarkets is a scam.

Related Complaints

Q&A

is ZaxMarkets safe?

Farid (Freddy) Elbaz
Pakistan
2023-10-11
ANSWER No, ZaxMarkets is not safe.ZaxMarkets claims to be operated by Zax Markets LLC, a company supposedly registered with the Financial Services Authority of St. Vincent and the Grenadines (SVG FSA) under Reg. number 20698 IBC 2021. However, a quick check on the SVG FSA website reveals that there is no such company or registration number in their records. This means it uses a fake registration number to pretend to be regulated by the offshore watchdog.Therefore, BrokersView concluded that ZaxMarkets is a fraudulent platform. Entrusting it with your funds and personal information could be devastating, as there are no rules in place to prevent fraud and identity theft. If ZaxMarkets goes out of business or absconds, clients are unable to recover their funds or get compensation. ZaxMarkets is still in business and we strongly suggest investors stay away from it and instead choose a fully regulated one.
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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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