ZANK Forex Broker provides real users with * positive reviews, * neutral reviews and 1 exposure review!
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This ZANK just updated the logo and changed the new website name to ZKTrade to defraud. It uses someone else's supervision number. Please don't be deceived! ! I have been scammed by them, please stay away!
Zank Capital has garnered significant attention in the forex trading community, but the reviews paint a mixed picture. While some users appreciate the potential benefits of trading with Zank, many others express serious concerns regarding its legitimacy and regulatory status. Key features include the use of the popular MetaTrader 4 platform and the promise of cashback through rebates, but these are overshadowed by warnings about the broker's unregulated nature.
Note: It is crucial to be aware that different entities operate under the name "Zank," which may lead to confusion. This review aims to present a fair and accurate assessment based on available information.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 3 |
| Tools and Resources | 4 |
| Customer Service and Support | 2 |
| Trading Experience | 3 |
| Trustworthiness | 1 |
| User Experience | 2 |
| Additional Rating (Optional) | 3 |
We score brokers based on a comprehensive analysis of user feedback, expert opinions, and factual data.
Founded in 2020, Zank Capital is purportedly based in the UK, but it lacks any credible regulatory oversight. The broker offers access to the MetaTrader 4 trading platform, allowing users to trade various financial instruments, primarily forex. Despite its claims of being an industry leader, Zank Capital has been flagged as unregulated, raising significant concerns about the safety of client funds.
Zank Capital operates without regulation from major financial authorities, including the UK's Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC). According to various sources, Zank Capital is categorized as a scam broker, which poses a heightened risk for potential traders (WikiFX).
Zank Capital reportedly accepts deposits in multiple currencies, but specific information on withdrawal methods remains scarce. Users have noted difficulties in processing withdrawals, which is a common red flag for unregulated brokers.
The minimum deposit required to open an account with Zank Capital is reported to be around $500, which is relatively high compared to regulated brokers that often allow lower initial investments.
Zank Capital promotes cashback through rebates, claiming to offer competitive rates compared to other brokers. However, the legitimacy of these promotions is questionable given the broker's overall reputation.
Zank Capital primarily focuses on forex trading, but it also claims to offer access to other financial instruments. However, the lack of transparency regarding available assets is concerning.
The spreads offered by Zank Capital vary depending on account types, with some reports suggesting spreads as low as 0 pips for higher-tier accounts. Nevertheless, the absence of clear fee structures raises questions about hidden costs.
Zank Capital offers a maximum leverage of 1:500, which can be appealing to traders looking for high-risk, high-reward opportunities. However, such high leverage is often restricted by regulatory bodies to protect retail investors.
The primary trading platform available is MetaTrader 4, which is widely recognized for its robust features and user-friendly interface. However, the effectiveness of this platform is undermined by the broker's lack of regulation.
Zank Capital does not provide clear information on restricted regions, but its unregulated status suggests that traders from various jurisdictions should exercise caution.
Customer support appears limited, primarily conducted in English, with no clear contact details provided for users needing assistance.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 3 |
| Tools and Resources | 4 |
| Customer Service and Support | 2 |
| Trading Experience | 3 |
| Trustworthiness | 1 |
| User Experience | 2 |
| Additional Rating (Optional) | 3 |
Account Conditions (3/10): Zank Capital's account conditions are subpar, with high minimum deposits and limited account types. Many users report frustrating experiences with account management.
Tools and Resources (4/10): While the broker offers the MetaTrader 4 platform, the lack of additional trading tools and educational resources is disappointing.
Customer Service and Support (2/10): Customer service is reportedly unresponsive, with limited options for reaching out for help. Users have expressed frustration over slow responses and unresolved issues.
Trading Experience (3/10): The trading experience is marred by concerns over execution speed and reliability, particularly given the broker's unregulated status.
Trustworthiness (1/10): Zank Capital is widely regarded as a scam broker, with no regulatory oversight, raising significant concerns about the safety of funds.
User Experience (2/10): User experiences are overwhelmingly negative, with many traders reporting difficulties in withdrawing funds and accessing reliable support.
In conclusion, while Zank Capital presents itself as a competitive player in the forex market, the overwhelming consensus is caution. The lack of regulation, poor customer service, and negative user experiences suggest that potential traders should carefully consider their options before engaging with this broker. Always conduct thorough research and ensure that your chosen broker is regulated and trustworthy.
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