Zenith foreign exchange brokers specializing in providing foreign exchange trading services, the company's official website http://crm.zenithwealthex.com/public/register, about the company's legal and temporary regulatory information, the company's address .
Zenith, officially known as Zenith Wealth Global Limited, is a forex broker established between 5 to 10 years ago. The company is registered in China and primarily serves the Chinese market. Zenith operates as a private entity, focusing on retail forex trading and offering various financial services to its clients.
Over the years, Zenith has aimed to provide a trading platform that enables clients to engage in forex trading with floating spreads. The broker claims to offer access to the MetaTrader 5 (MT5) trading platform, which is widely recognized in the trading community for its advanced features. However, the company has faced scrutiny regarding its regulatory status and operational practices.
Zenith's business model revolves around providing retail forex trading services, with a specific emphasis on catering to the local Chinese clientele. Despite its operational history, the lack of a robust regulatory framework has raised concerns among potential traders regarding the safety and reliability of the services offered by this broker.
Zenith operates without any valid regulatory oversight, which is a significant red flag for potential clients. According to various sources, including WikiFX, the broker holds a “no license” status, indicating that it is not regulated by any recognized financial authority. This lack of regulation raises concerns about the safety of client funds and the overall credibility of the broker.
The absence of a regulatory license means that there is no governing body overseeing Zenith's operations, which could lead to potential risks for traders. Additionally, there is no information regarding customer fund segregation policies, investor compensation schemes, or adherence to Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance measures.
Traders are strongly advised to consider these factors when evaluating Zenith as a potential broker. The lack of transparency and regulatory oversight creates a high-risk environment for investors, making it essential to conduct thorough research before engaging with the platform.
Zenith claims to offer a diverse range of trading products, primarily focusing on forex currency pairs and Contracts for Difference (CFDs). According to the broker's promotional materials, they provide access to a wide array of forex pairs, including major, minor, and exotic currencies. However, specific details regarding the total number of currency pairs available have not been disclosed.
In addition to forex trading, Zenith advertises access to other financial instruments, including commodities, indices, and cryptocurrencies. However, the details regarding the specific categories of CFDs offered, such as stocks and commodities, remain unclear.
The broker's commitment to providing retail trading services is evident, but the lack of detailed information regarding product offerings and updates raises questions about the breadth of its trading capabilities. Furthermore, there is no mention of institutional client services or white-label solutions, which could limit the broker's appeal to professional traders and institutions.
Zenith supports the MetaTrader 5 (MT5) trading platform, which is known for its stability and advanced trading features. MT5 is widely utilized by forex traders for its comprehensive tools, including algorithmic trading, complex indicators, and strategy testers. The platform is compatible with both desktop and mobile devices, allowing traders to access their accounts from anywhere.
While Zenith promotes the use of MT5, there is no information available regarding any proprietary trading platforms or additional technological features that may enhance the trading experience. The absence of details about server locations and technical infrastructure also raises concerns about the broker's commitment to providing a reliable trading environment.
Moreover, there is no mention of API access or support for automated trading strategies, which are essential for many traders looking to implement advanced trading techniques. Overall, the reliance on a single trading platform without additional technological offerings may limit the broker's competitiveness in the market.
Zenith offers a standard account with a minimum deposit requirement of $100. Traders can expect spreads ranging from 0.2 to 0.5 pips for major currency pairs. However, the broker does not provide detailed information regarding any premium or advanced account types, such as VIP or professional accounts.
The lack of clarity surrounding account types raises concerns about the options available for traders with varying needs. Additionally, there is no mention of Islamic accounts or corporate account solutions, which could limit the broker's appeal to a broader audience.
Leverage options are also unspecified, which is critical for traders looking to understand their potential risk exposure. Furthermore, details regarding minimum trade sizes and overnight fees are not provided, making it challenging for traders to assess the overall trading conditions effectively.
Zenith claims to support various deposit methods, including bank transfers and credit/debit cards. The minimum deposit requirement is set at $100, while the minimum withdrawal amount is stated to be $50. However, the broker does not provide clear information regarding deposit processing times or any associated fees.
Withdrawals are reportedly processed via similar methods, but specific details about withdrawal processing times and fees remain vague. The lack of transparency in fund management practices raises concerns about the broker's reliability and the ease with which clients can access their funds.
Traders should exercise caution and consider these factors when evaluating Zenith as a potential trading partner, as unclear fund management practices can lead to significant challenges for investors.
Zenith offers customer support primarily through email, with the contact address being zenithservice@zenithwealthex.com. However, the broker does not provide additional contact methods such as phone numbers or live chat support, which may limit the accessibility of assistance for clients.
The service hours and time zone coverage are not specified, leaving traders uncertain about the availability of support when needed. Furthermore, there is no information regarding the languages supported by the customer service team, which could be a barrier for non-English speaking clients.
In terms of educational resources, Zenith appears to offer limited materials. There is no mention of webinars, tutorials, or eBooks that could assist traders in improving their skills. Additionally, the lack of market analysis services, daily updates, or research reports further diminishes the educational support available to clients.
Zenith primarily serves clients in China, focusing on the local market. However, the broker does not provide specific details about its regional offices or the extent of its geographical coverage. It is essential for potential clients to be aware of any restrictions regarding clients from certain countries.
The broker may not accept clients from jurisdictions where regulatory compliance is stringent or where it lacks the necessary licenses. This limitation could significantly impact the broker's overall client base and its ability to operate effectively in the global market.
In summary, while Zenith presents itself as a forex broker with various trading opportunities, the lack of regulatory oversight, transparency, and comprehensive support services raises significant concerns for potential traders. It is advisable for clients to conduct thorough research and consider the risks associated with engaging with the zenith broker before making any investment decisions.
Achim
United States
This is a fraud platform without any regulatory information, and the regulatory information above is all false. I deposited $20,000, but when I made a profit, I could not close the position, resulting in my capital loss, and the remaining capital could not be withdrawn.
Exposure
2020-12-16
FX4117076160
Singapore
Apply for withdrawals on December 1, but the withdrawal hasn't arrived yet. The withdrawal was deducted from my MT5 already.
Exposure
2020-12-07
Agent007
Philippines
To all traders beware of this broker its a Chinese Scam broker you can’t withdraw your money in this broker.
Exposure
2021-05-21