ZANK Forex Broker

Note: GPM is to operate via the website - http://www.gpmfx.com/#, which is currently not yet functional and no information about the company was immediately available. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker. Risk Warning Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only. General Information & Regulation Feature Detail Regulation No Regulation Market Instrument forex currency pairs, commodities, spot indexes, cryptocurrencies, and stocks Account Type VIP, Islamic, etc. Demo Account N/A Maximum Leverage 1:500 Spread (EUR/USD) Around 1.4 pips Commission CTrader platform: 3.5% commission on each trade |VIP account: $2 per side commission Trading Platform MT4 & CTrader Minimum Deposit $100 Deposit & Withdrawal Method bank transfers and crypto wallets ZANK, a trading name of ZANK INTERNATIONAL LIMITED., is allegedly a forex broker registered in the United Kingdom that claims to provide its clients with various tradable financial instruments with leverage up to 1:500 and floating spreads around 1.4 pips on the MT4 and CTrader trading platform. As for regulation, it has been verified that ZANK currently has no valid regulation. That is why its regulatory status on WikiFX is listed as “No License” and receives a relatively low score of 1.29/10. Please be aware of the risk. Market Instruments The available tradeable assets at ZANK are forex currency pairs, commodities like metal and oil, spot indexes, cryptocurrencies, and stocks. Account Types ZANK appears to offer VIP and Islamic accounts. However, other details about the account types are unavailable. Leverage The maximum leverage provided by ZANK is up to 1:500. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you. Spreads & Commissions According to the MT4 platform offered by ZANK, we were able to read a 1.4 pips cost of trade for the EUR/USD currency pair, while the industry average spread is 1.5pips. As for the commission, we learn that there is a 3.5% commission on each trade when using the CTrader, and the VIP Accounts are burned by a $2 per side commission. Trading Platform Available The platform available for trading at ZANK is one of the most notable and preferred trading platforms the market offers - MetaTrader4. This trading terminal is highly praised by traders and brokers alike due to its ease of use and great functionality. The MT4 offers top-notch charting and flexible customization options. It is especially popular for its automated trading bots, a.k.a. Expert Advisors. From the information on the Internet, it seems that the broker also offers the CTrader. Deposit & Withdrawal ZANK says to work with bank transfers and crypto wallets. The minimum initial deposit requirement is said to be $100, and the minimum withdrawal amount is $100 as well. Withdrawal requests get processed between 1 and 5 days. Fees ZANK also charges an Administration Fee, which can be seen in the below screenshot. Customer Support The only way you can approach ZANK is via email: SUPPORT@ZANKGLOBAL.COM. Unluckily, this broker doesnt disclose other more direct contact information like telephone numbers or the company address that most transparent brokers offer. Pros & Cons Pros Cons • various tradable instruments offered • No regulation • Website inaccessible • MT4 supported • Commission charged Frequently Asked Questions (FAQs) Q 1: Is ZANK regulated？ A 1: No. It has been verified that ZANK currently has no valid regulation. Q 2: Does ZANK offer the industry-standard MT4 & MT5？ A 2: Yes. ZANK offers the MT4 and CTrader. Q 3: What is the minimum deposit for ZANK？ A 3: The minimum initial deposit with ZANK is $100. Q 4: Does ZANK charge a fee？ A 4: Like every forex broker, ZANK charges a fee when you trade - either in the form of a commission fee or spread fee, as well as an Administration Fee. Q 5: Is ZANK a good broker for beginners？ A 5: No. ZANK is not a good choice for beginners. Although it offers the supreme MT4 trading platform, it lacks legitimate regulation and its website is currently inaccessible.