Zosit Company

Zosit Forex Broker - Complete Information Guide

1. Company Overview

Zosit, a Panama-based broker, has been operational for approximately 2 to 5 years, focusing on providing trading services to both retail and institutional clients. The company is privately owned and primarily offers a variety of trading products, including Forex, indices, commodities, and cryptocurrencies. The headquarters is located in Panama City, specifically at Calle 53 Marbella, Panama. Zosit broker has developed a business model that caters to a diverse clientele, ensuring accessibility to various trading instruments.

Since its inception, Zosit has aimed to establish itself in the competitive forex market by offering multiple investment plans. These plans are designed to accommodate traders with different levels of experience and trading frequency. The brokers development journey includes various milestones, such as expanding its product offerings and enhancing its trading platform capabilities. However, the lack of valid regulatory oversight raises concerns regarding its operational practices.

The company's business model primarily revolves around retail forex trading, with services extended to institutional clients. Zosit broker aims to provide a user-friendly trading environment, enabling clients to engage in various financial markets efficiently.

2. Regulatory and Compliance Information

Zosit operates without valid regulatory oversight, which presents significant risks to potential traders. The broker is not under the jurisdiction of any recognized financial regulatory authorities, and its status has been marked as “no license” on platforms like WikiFX. This lack of regulation raises alarms about the safety of client funds and the overall integrity of the trading environment.

The absence of a regulatory license means that Zosit does not have a regulatory number or an established framework for compliance. Consequently, clients should be aware that their investments may not be protected under any investor compensation schemes. The broker does not appear to have a clear policy regarding the segregation of client funds, which is critical for safeguarding traders' capital.

Moreover, Zosit has not provided detailed information regarding its Know Your Customer (KYC) and Anti-Money Laundering (AML) measures. This lack of transparency further emphasizes the potential risks associated with trading through this broker. As such, potential clients are advised to exercise extreme caution and consider the implications of engaging with an unregulated broker like Zosit.

3. Trading Products and Services

Zosit offers a diverse range of trading products, catering to various market segments. The broker provides access to numerous currency pairs, including major, minor, and exotic pairs, allowing traders to engage in the Forex market effectively. Additionally, Zosit offers Contracts for Difference (CFDs) on various asset classes, including indices, commodities, and cryptocurrencies.

The range of cryptocurrencies available for trading includes popular options such as Bitcoin, Ethereum, and other altcoins. Zosit broker also claims to provide unique trading opportunities, such as Bitcoin mining, which distinguishes it from many traditional brokers. However, the frequency of product updates and the introduction of new trading instruments are not clearly outlined, leaving potential clients in the dark about the evolving product offerings.

For retail clients, Zosit provides a straightforward trading experience, while institutional clients can benefit from tailored services designed to meet their specific needs. The absence of white-label solutions or asset management services indicates a focus primarily on retail trading.

4. Trading Platform and Technology

Zosit does not support the widely recognized MetaTrader 4 or MetaTrader 5 trading platforms, which is a significant drawback for traders accustomed to these industry standards. Instead, the broker appears to offer its proprietary trading platform, although specific details about its features and functionalities are limited.

The trading platform is accessible via web browsers, providing a basic interface for executing trades. However, the lack of a mobile application for iOS and Android devices may hinder traders who prefer to manage their accounts on the go.

Regarding execution modes, Zosit's operational model is not explicitly defined in the available information, but it is crucial for potential clients to inquire about the execution methods utilized, whether they are ECN, STP, or market-making.

The server infrastructure, reportedly located in the United States, raises questions about latency and overall trading performance. Additionally, there is no clear mention of API access or support for automated trading, which could limit the trading strategies available to more advanced users.

5. Account Types and Trading Conditions

Zosit offers a variety of account types tailored to different trading needs. The basic account requires a minimum deposit of just $20, making it accessible for novice traders. This account type is designed for those with lower trading frequency and offers a 5% automated weekly payout.

For more experienced traders, the premium account requires a minimum deposit of $3,000 and is suitable for those with medium trading frequency, providing an 8% automated weekly payout. The executive account is targeted at high-frequency traders, requiring a minimum deposit of $5,000 and offering a 10% automated weekly payout.

The leverage offered by Zosit varies depending on the asset class, but specific details regarding the leverage ratios for different products are not provided. The broker's policy on overnight fees and minimum trade sizes remains unclear, which could impact traders' cost structures.

Zosit does offer a demo account for new traders to practice their strategies without risking real capital. However, the specifics of the demo account features and limitations are not detailed.

6. Fund Management

Zosit provides a range of funding options for clients, including bank transfers, credit cards, and various e-wallets. The minimum deposit requirement is set at $20 for the basic account, while higher deposits are needed for premium and executive accounts.

The processing time for deposits is not explicitly stated, which could lead to uncertainty for potential clients. Additionally, there is no information regarding deposit fees, which is a crucial aspect for traders to consider.

Withdrawal methods include similar options, but specific restrictions on withdrawal limits or processing times are not provided. This lack of transparency could pose challenges for traders looking to access their funds promptly. The fee structure for withdrawals is also not disclosed, which is essential for understanding the overall cost of trading with Zosit.

7. Customer Support and Educational Resources

Zosit offers various customer support channels, including telephone, email, and online chat. The main contact number is +44 1446318011, and the support email address is support@zosit.com. However, the availability of support services and response times are not clearly defined.

The broker claims to provide multilingual support, but specific languages supported are not mentioned. This could limit accessibility for non-English speaking clients.

Zosit offers limited educational resources, with no mention of webinars, tutorials, or eBooks that could aid traders in enhancing their knowledge. Market analysis services, such as daily updates, news, and research reports, are also not highlighted, which could disadvantage traders looking for informed trading decisions.

8. Regional Coverage and Restrictions

Zosit primarily targets clients in Panama, with its services available in various regions. However, the specific distribution of regional offices is not detailed, which may affect clients' access to localized support.

The broker does not accept clients from certain countries, although the exact list of restricted regions is not provided. Potential clients should verify whether their country of residence is eligible for account opening with Zosit.

In summary, Zosit broker presents a mixed offering in terms of product diversity and accessibility. However, the lack of regulatory oversight and transparency in operational practices raises significant concerns for potential traders. It is crucial for clients to conduct thorough research and consider the risks before engaging with Zosit.