Zetradex Forex Review

Read our full unbiased Zetradex review to get real information about their safety, accounts, spreads, platforms, assets, support, etc. Our full Zetradex opinion lets our readers decide whether Zetradex is a reliable broker. After reading this review, you will know the answer to the question: is Zetradex a scam?

Zetradex Forex Broker History

Zetradex is a Forex and CFDs broker, regulated offshore, making it less trustworthy right from the beginning. The firm was launched in 2022, giving it a decent experience in the brokerage space. However, the reviews are scarce online, which makes it difficult to evaluate its reliability and experience among traders. The broker offers several trading account types, and it allows access to diverse markets including Forex, stocks, commodities, indices, and cryptos.

Safety and regulations of Zetradex

The first red flag about this broker is the warning in Trustpilot, where the firm seems to display Trustpilot content misleadingly, trying to ensure traders think the firm is legit and reliable, when in fact, around half the reviews are 1-star evaluations. This is a major red flag, indicating the firm is not ethical with its traders, and how it spreads the content from Trustpilot is misleading to lure traders.

The broker is regulated by the MWALI International Services Authority in Comoros. Offshore regulators are not as strict as reputable regulators, and the broker seems to have some issues with ethical practices.

Zetradex Broker Review of Accounts

Zetradex offers several trading account types such as Ze Standard, Ze Ultra, and Ze Pro. There is also a demo account available, allowing traders to check trading conditions and trade with virtual money.

Ze Standard trading account

The standard account is designed for general trading purposes. The minimum deposit is very low, from 1 dollar, which is very competitive. Account currencies are multiple. The standard lot size is 100,000 units, the maximum leverage is 1:3000, and the stop-out level is 50%. The 1:3000 leverage is what’s called excessive leverage and traders can quickly blow up their accounts, making it very risky, especially for beginner traders. The spreads are from 1 pip, which is expensive and makes it almost impossible to scalp the markets.

Ze Ultra Zetradex account

The Ultra trading account is a zero-spread account that has spreads near 0 pips but charges commissions. The minimum deposit starts at 500 USD, which is very high. This account is not for beginners. The commissions are more than 7 USD per lot round turn, which is very expensive and makes it almost impossible to use scalping strategies. The maximum leverage is 1:1000, which is lower than the 1:3000 on the standards account, but still very high.

Ze Pro Zetradex account

The pro trading account requires a minimum of 1,000 dollars deposits. The leverage is up to 1:500, and the firm claims to be offering raw spreads. Margin requirements are low according to Zetradex. This account is more targeted at experienced traders who know what they are doing. However, considering the broker’s unethical practices and negative trader reviews, it is very risky to sign up with Zetradex.

Zetradex Demo account

The Zetradex demo is free for everyone and allows traders to check trading conditions or develop trading strategies, which is useful. The leverage is 1:1000. However, spreads are fixed and traders can not see real spreads of live accounts, which is a red flag.

Zetradex Reviews of Trading Platforms

When it comes to trading platforms, Zetradex provides access to its own custom web trading platform. The firm does not allow access to MT5 or any other advanced trading platform, which is a serious downside. Many traders complain about the platform being laggy and the broker manipulating prices, and since negative reviews are almost half of all reviews, we assume the broker offers a horrible trading experience.

Zetradex mobile trading app is available for both Android and iOS, allowing access on the go.

Zetradex Forex Review of Extra Features

The broker offers bonuses and promotions, which are accessible for all trading account type owners, which is flexible. There are welcome bonuses, Olympic bonuses, power-up bonuses, and holiday bonuses.

Welcome bonus

The welcome bonus allows new traders who previously had no trading experience with Zetradex to access up to 50% of their deposit. Here are the key specs:

• Deposit increase – 50%
• Minimum Deposit – 1 USD
• Maximum Leverage – 1:3000
• Maximum Trade Volume – Unlimited

This bonus requires traders to get verified and deposit funds.

Olympic Bonus 5000%

The Olympic bonus allows traders to increase their balance by 5000% which is too good to be true and comes with many rules and requirements. Here are the key specs of this bonus:

• Deposit increase – 5000%
• Minimum Deposit – 1 USD
• Maximum Leverage – 1:50
• Maximum Trade Volume – 0.5 lots

This bonus also requires traders to get verified and deposit at least 1 dollar in their trading accounts. Zetradex fraud is highly likely as the broker promises excessive bonuses and high leverage levels of up to 5000% and 1:3000.

Power-Up Bonus

Power-up bonus allows traders to increase their trading balance from existing accounts. Here are its specs:

• Deposit increase – up to $1000
• Minimum Deposit – 50 USD
• Maximum Leverage – 1:500

Together with other bonuses, the broker also offers holiday bonuses like Chinese New Year and so on.

Zetradex Reviews of Customer Support

Can you trust Zetradex when it comes to customer support? The broker offers live chat, and email, and is available in several messenger apps like WhatsApp, Discord, and more. The broker offers its website in more than 5 different languages, which is flexible.

Zetradex Deposit and Withdrawal

Our Zetradex opinion can only be formed after we also evaluate the broker’s deposit and withdrawal procedures. The broker has commissions on bank withdrawals up to 3% which is very high, while deposits have no commissions. For bank cards and wallets, there are no commissions.

The broker promises instant withdrawal processing for bank cards and wallets, while it takes 2-4 business days for bank withdrawals.

Zetradex Review Conclusion

Zetradex scam is highly likely as the broker has many negative reviews, indicating serious security issues. Trustpilot warns users about the broker’s misleading practices. With this in mind, the answer to the question: can you trust Zetradex, is obviously negative. The broker does not seem reliable, and we recommend our readers to stay away from this company.