Zetradex Forex Review

In our Zetradex review on Forex Trading Bonus, we will provide an unbiased assessment of the broker’s services and important safety features. After reading this review, traders will know if the Zetradex scam is going on. So, stay tuned.

Zetradex Forex Broker History

Zetradex is a Forex and CFDs broker that does not offer any advanced trading platforms, instead, it offers proprietary web-based and mobile trading apps that are inferior to any widely popular platforms. The broker has a 1 USD minimum deposit, which has expensive spreads from 2 pips. The broker is based in Comoros and was launched in 2022 making it very risky to sign up with this broker. The broker is young and lacks proper experience in the industry, and there are not enough trader reviews to add to its legitimacy. The broker claims to have 1 million clients, which is almost 100% a lie for a broker established in just 2022 and not offering advanced platforms. Let’s continue with the broker’s accounts.

Zetradex Broker Review of Accounts

The broker offers several trading accounts including ze Standard, ze PRO, and ze Ultra. The minimum deposit required for the ze Standard account is 1 USD, which is actually flexible. The leverage for this account is 1:3000, and the spreads are very expensive from 2 pips.

Ze Pro account comes with a 1,000 USD minimum deposit, 1:3000 leverage, and spreads from 0 pips. This account requires trading commissions for low spreads, but the firm is shy to disclose details, which is a red flag.

Ze Ultra account requires a 100 USD minimum deposit, has a leverage of 1:3000, and spreads from 1 pip.

To get industry average spreads of 1 pip on major pairs, traders have to opt for ze Ultra account meaning they need a 100 USD minimum deposit, as the standard account has very expensive spreads from 2 pips. The broker with these high spreads creates entry barriers for beginner traders, which is a downside.

Zetradex Reviews of Trading Platforms and Assets

Trading platforms are one of the biggest downsides alongside safety for Zetradex brokers. The broker does not offer any advanced platforms like MT4 or MT5, only web trading and trading apps. This is a major red flag for any financial broker, as it is possible to manipulate prices and make traders lose money when not using advanced platforms. These platforms are also limited when it comes to trading functionality. Zetradex trading app is designed similarly to mobile MT4 in visual appearance, which is old and is not very convenient for trading on the go. The app also lacks many features and is not a good substitute for decent apps like MT5 or cTrader. Zetradex Web Trader is also inferior to any advanced platforms mentioned above and does not offer as much functionality or custom indicators. Even if other services and safety were top-notch, this fact alone would make us recommend our readers to stay away from this broker, as advanced trading platforms are a necessary part of the modern financial trading experience.

Zetradex Forex Review of Extra Features

Is Zetradex a scam? Let’s check the broker’s safety. Zetradex is regulated by the MWALI International Services Authority (MISA), which is an offshore regulator. The regulator is not reputable enough to provide enough safety for traders at Zetradex. We can not confirm whether the broker follows any strict safety policies, which is not a good thing about any broker. While the presence of a regulator is always a positive sign, Zetradex lacks enough experience and trader reviews.

Zetradex offers access to more than 600 instruments including Forex, stocks, indices, commodities, and cryptos. The leverage is high at 1:3000 and spreads are average. The broker is shy to disclose exact trading commissions, which is never a good thing.

There are several bonuses including a 100% Marathon Bonus, a 333% Medal Bonus, and 5000% Olympic Bonuses offered.

Zetradex Reviews of Customer Support

Zetradex offers several support options including live chat, email, and several online messenger app support. There is no direct hotline support, which is also a downside, as it is unprofessional not to offer phone support while having WhatsApp and Messenger available. The live chat seems decent, with inbuilt FAQs and settings to change the name or email the whole conversation. Both the support and website are available in different languages. Since the broker is young, we can only hope that it addresses all its drawbacks properly.

Zetradex Deposit and Withdrawal

Deposits are instant and withdrawal takes numerous days to get processed, which is a huge disadvantage. Accepted payment options include wire transfers, bank cards, Sticpay, Payeer, AstroPay, Crypto, Mobile Transfer in Africa, and China UnionPay.

All methods of withdrawals come with commissions and processing times are long. The withdrawal processing is at least 2 days, meaning traders will have to wait sometimes 3–4 days and even more to get withdrawals. Zetradex therefore, has one of the worst withdrawal policies in the industry making it a costly and lengthy process.

Zetradex Review Conclusion

Can you trust Zetradex? Zetradex fraud is highly likely, as the broker claims to have 1 million clients when it was established in 2022. It has a high spread for ze Standard accounts at 2 pips, does not offer advanced trading platforms, and there is no conventional phone support. The broker offers WhatsApp and Messenger, but it is not enough to make it legit. The lack of proper platforms increases the risks of fraud, and claims of about 1 million clients seem very exaggerated. We advise our readers to exercise extra caution when dealing with this broker, as offshore regulations and other red flags increase risks considerably.