Zommerce Forex Broker provides real users with 1 positive reviews, * neutral reviews and * exposure review!
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At first, I had problems with it getting stuck and it took service hours to answer me but now things are much better. Glad I had patience because now everything is really fast.
Summary: ZM Trade has garnered significant scrutiny due to its lack of regulation and numerous negative user experiences. Many reviews indicate a high risk of losing funds with this broker, highlighting concerns regarding withdrawal difficulties and overall trustworthiness.
Note: It is crucial to recognize that the broker operates under different entities across regions, which may affect the level of service and regulatory oversight. This review aims to provide a balanced perspective based on available information.
| Category | Score (out of 10) |
|---|---|
| Account Conditions | 2 |
| Tools and Resources | 3 |
| Customer Service & Support | 2 |
| Trading Experience | 3 |
| Trustworthiness | 1 |
| User Experience | 2 |
How We Rated the Broker: Ratings are based on available user feedback, expert opinions, and factual data from various sources.
Founded within the last 5 years, ZM Trade operates under the name Zom Merce Limited and is registered in China. The broker claims to provide various trading services, including forex, CFDs, and cryptocurrencies, but lacks valid regulatory oversight, which raises serious concerns about its legitimacy. ZM Trade primarily operates on the MT4 platform, which is well-known in the trading community. However, the absence of a reliable regulatory authority is a significant red flag for potential traders.
ZM Trade operates without any recognized regulation, which poses a considerable risk for traders. According to various sources, including WikiFX and BrokersView, the broker has been flagged for operating in regions where it is not authorized to provide financial services. The lack of oversight means that there is little to no protection for clients' funds, making it a high-risk option for traders.
Users have reported significant issues with withdrawals, indicating a pattern where funds are either delayed or completely inaccessible. This aligns with findings from multiple reviews that emphasize the broker's unregulated status as a major factor in these difficulties. ZM Trade does not specify accepted currencies or cryptocurrencies, which adds to the confusion surrounding its operational transparency.
The minimum deposit required to open an account with ZM Trade is not clearly stated across all sources, but it is generally advised to approach any financial commitment with caution, given the broker's questionable reputation.
There is no information available regarding bonuses or promotions offered by ZM Trade. This lack of incentive may deter potential clients looking for additional value in their trading experience.
ZM Trade claims to offer a variety of trading instruments, including forex, CFDs, and cryptocurrencies. However, the lack of regulatory oversight raises questions about the legitimacy of these offerings and the safety of trading them.
Specific details regarding spreads, fees, and commissions are not consistently provided across sources, but the general consensus is that the costs associated with trading through ZM Trade may not be competitive, especially given the broker's lack of regulation.
Information regarding leverage options offered by ZM Trade is scarce. However, traders should be cautious with any broker that operates without regulation, as high leverage can amplify losses as well as gains.
ZM Trade primarily utilizes the MT4 platform, which is a popular choice among traders for its robust features and ease of use. However, the overall experience may be compromised by the broker's lack of regulatory oversight.
Due to its unregulated status, ZM Trade may not be authorized to operate in certain regions, making it essential for potential clients to verify their eligibility before engaging with the broker.
Customer support options appear limited, and there are numerous complaints about the quality of service. Users have reported difficulties in reaching support staff and receiving timely assistance.
| Category | Score (out of 10) |
|---|---|
| Account Conditions | 2 |
| Tools and Resources | 3 |
| Customer Service & Support | 2 |
| Trading Experience | 3 |
| Trustworthiness | 1 |
| User Experience | 2 |
Account Conditions: The lack of clear information regarding account types and minimum deposits raises concerns. Multiple sources indicate that ZM Trade's account conditions are not favorable for traders.
Tools and Resources: The broker does not provide significant educational resources or trading tools, which can hinder the trading experience for both novice and experienced traders.
Customer Service & Support: Numerous reviews highlight poor customer service, with users struggling to get timely responses. The lack of reliable support contributes to the overall negative perception of the broker.
Trading Experience: The trading experience is marred by reports of withdrawal issues and a lack of transparency, which can lead to frustration for users.
Trustworthiness: The absence of regulation and numerous negative reviews indicate that ZM Trade is not a trustworthy broker. Many sources warn potential traders to be cautious and consider alternative options.
User Experience: Overall user experience is reported to be negative, with many traders expressing dissatisfaction with their interactions with the broker.
In conclusion, the ZM Trade review paints a concerning picture of a broker that lacks regulatory oversight and has garnered numerous negative user experiences. Potential traders are strongly advised to consider these factors before engaging with ZM Trade.
