Anzo Capital Limited Forex broker Review
Anzo Capital Limited is one of the many FX brokers based in Belize. It entered the competitive market of Forex trading in 2016 and it has since been seeking to recruit traders from all over the world save for a few countries like the USA. It is an ECN and STP broker and offers a wide range of Forex and CFD trading opportunities. But before all else, the most important thing a trader should consider is whether their broker is genuine or not. In this Anzo Capital Ltd review we look at several factors which will enable us determine whether the firm is legit or not.
A look at Anzo Capital FX broker
The broker is registered in Belize but its international offices are in Singapore. The address of the firm in Belize is 1 Mapp Street, Belize City. Even though based in Belize, Anzo Capital maintains segregated accounts which is one of the conditions by internationally recognized regulators. The firm is licensed and regulated by International Financial Services of Belize (IFSC). The license number which is proudly displayed on the official website of the broker is IFSC/60/482/TS/18. Even though Belize is a tax haven which means financial laws are lax, IFSC is seen by some traders as a good enough regulator. To other traders, Anzo Capital scam might very well exist since IFSC is not categorized as a global credible regulator.
Trading at Anzo Capital
When you open an account with the broker, you will be able to trade in USD, EUR, JPY, and PLN currencies. When it comes to depositing and withdrawing money, the broker offers WebMoney, credit card, debit card, FasaPay, Qiwi, Bitcoin, and wire transfer among other options. The broker also offers accounts for managers which are PAMM and MAM. The leverage offered by Anzo Capital goes up to 1:500 for equity amounts below $100,000. According to the broker, the floating spread for an STP type of account for EURUSD is 1.8 pips. However, according to some Anzo Capital reviews, this is actually not true as the pips for EURUSD rises to 2.2 which is way too high than what many traders would prefer.
The trading platforms
Like many Forex brokers, Anzo Capital has invested in MetaTrader 4 platform which comes with cool analysis and charting tools. On top of that, the broker offers Web-based platform which allows every trader from around the world and who has access to the internet enter into a trade. The broker also provides Multi Account Manager type of platform. Unlike many brokers though, Anzo does not provide a platform which is compatible with mobile devices.
In this Anzo Capital Ltd scam review, we look at the two types of accounts offered by the firm. There is the STP account which requires a minimum initial deposit of $100. The margin call for the account is 80% while the maximum trade size is 50. The other type of account is ECN which requires a minimum initial deposit of $500. The commission charged per trade for this account is $7 which means the low spread of 0.1 pip rises to 0.7 pips.
Is Anzo Capital legit?
A quick look at Anzo Capital Limited Forex broker will show you that there is nothing much to be concerned about. Upon a closer look however, you will appreciate that IFSC is not a very strong regulatory body which you can peg your FX trading success on. On top of that, 2.2 pips for a standard account is very high as traders in this bracket prefer 1.5 pips.