ZES Forex Review: A Comprehensive Examination
Pseudo company regulated by a pseudo authority body. Sounds like a bad start for a ZES Forex broker. However, we did check all the information for you. Read our ZES Forex review and find out everything about the company.
|Regulated by:||No regulation|
|Supported Platforms:||MT4, web trader|
|Cryptocurrencies:||Yes – N/A about the number|
|Types of Assets:||FX, commodities, indices, shares, cryptocurrencies|
|Free Demo Account:||Yes|
|Accepts US clients:||No|
ZES Forex Regulation and Security
The broker is allegedly based in Ukraine. However, to be Ukrainian-based, you need regulation by UCRFIN. The ZES Forex broker is anonymous, does not list the owner, and does not exist in any Ukrainian register. Therefore, we tried to look for regulations and couldn’t find one.
On the broker’s website, it says the company has IFCOMM regulation. Once we checked deeper about IFCOMM, we discovered it’s a fake regulator. IFCOMM stands for International Financial Commission, and Swiss regulator FINMA published an official warning stating that despite being Swiss-based, this organization has no authority to provide regulations to anyone. It’s not even a registered business.
Now you understand how false is ZES Forex as well.
Issues With Funds Withdrawals – ZES Forex
As you can already imagine, there are severe accusations against ZES Forex related to funds withdrawals. As per clients’ reviews, the company will not allow you to withdraw your funds no matter what you try to do.
Let’s go step by step and understand who ZES Forex actually is.
The broker says it offers web trader and MT4. Also, there should be a Demo account where you can test the platform. Just, the Demo account doesn’t function, neither does the “Discover platform” button, which means that we cannot check the platform and verify how it looks and which features it contains.
On the other hand, the leverage provided by the company goes up to 1:400, which is ten times higher than any regulated EU broker can offer. Meaning that the company has no regulation whatsoever.
The minimum deposit seems to be $100, which is not bad. Although, there is no reason to deposit any funds with an anonymous and unregulated broker at all.
Clients can trade with currency pairs, commodities, indices, shares, and cryptocurrencies. As aforementioned, there is no Demo account and no information about the diversity of assets, so here we have nothing to say.
After everything, you can understand how not transparent the company is and how not legit the operation is.
Scammed by ZES Forex?
If you were scammed by ZES Forex, do not hesitate to report it. File a dispute and request a chargeback. You worked hard for your funds, and you have every right to get them back. You are not the only victim of the ZES Forex scam!
But what is a chargeback? It’s a way of refunding your card in case you were a victim of an online scam. However, a chargeback is a time-limited process, and you need to act fast.
Contact our support via chat and get all the related information!
What is ZES Forex?
ZES Forex is an unregulated online trading brokerage.
Is ZES Forex a scam?
ZES Forex is a broker providing financial services without regulations.
Is ZES Forex regulated?
ZES Forex states to be IFCOMM regulated, but this regulatory body is fake.