Getting to Know Zoxir
Zoxir welcomes us with a statement to trade safely like a true professional. The broker claims to have a positive reputation and to be in the top 5 best brokers. According to information, 300,000 traders from more than 90 countries use its services. However, despite such claims, this innovative broker remains unheard of in the news, and client reviews have only recently surfaced. We attempted to uncover the true assessment of its operations.
Description of Zoxir
According to the official website, Zoxir is a licensed company that collaborates with global regulators. Despite the listed liquidity providers for clients, there are no documents confirming the company’s partnership with them. The site lists a registration address in an offshore zone at Mile 1 Phillip Goldson Highway, 45, Belize. Investigation of this address revealed it as a trading center, not Zoxir’s office.
The legend states that Zoxir holds licenses from three regulatory bodies:
- Cyprus Securities and Exchange Commission (528/11),
- International Financial Services Commission, IFSC (01/25/HP/66),
- Financial Services Commission of Mauritius (F087945115).
However, a check of these licenses revealed Zoxir to be an illegal broker, and using its services is dangerous.
Moreover, it is important to note that the Zoxir website is available in seven languages, indicating a desire to attract clients from various countries. However, the presence of negative reviews already indicates problems with the company’s reliability and safety.
Unreliable Data and Terms
Although the Zoxir website was registered in 2016, it remained inactive for a long time. This suggests that Zoxir is a new project and not a stable company with a good reputation.
Trading Conditions at Zoxir
Zoxir offers trading in over 150 instruments, such as currency pairs, stocks, indices, and others. There are several types of accounts:
- START. Minimum deposit of 150 dollars with leverage of 1:100.
- PROGRESSIVE. Requires a minimum deposit of at least 1,000 dollars. Provides access to metals and cryptocurrencies, deposit insurance, and leverage of 1:500.
- PREMIUM. Minimum deposit of 10,000 dollars, offering 24/7 support and deposit protection.
No negative feedback on fund withdrawals from the Zoxir platform was found.
Reviews about Zoxir
Despite Zoxir’s short tenure, it has already managed to portray itself negatively. All discovered reviews of this company have a negative tone.
How Fraud Occurs on Zoxir
Zoxir uses psychological tactics and manipulates traders for deception. Initial damage can amount to 150 USD, but many have lost much more. Scammers create an illusion of profitable trading to attract new investments but do not allow fund withdrawals. The terms in the user agreement exempt Zoxir from liability in various situations.
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Review Summary
Zoxir is not a brokerage company but a deceptive project aimed at easy money through the trust of individuals. All licenses are fake, trading conditions are unclear, and the user agreement benefits only the project creators. Dealing with this company is a risky move best avoided.
I am deeply disappointed with my experience using Zoxir as a broker. Firstly, the trading opportunities they advertised seemed promising but turned out to be lackluster and not profitable. The support team was unresponsive and seemed unprofessional. The overall lack of transparency is a red flag for me. Numerous times, I found hidden fees which were not mentioned anywhere in their terms and conditions. Furthermore, most of the positive reviews I found turned out to be fake. I would never recommend Zoxir, because instead of supporting my trading journey, they ended up making it more difficult. Such a poor quality of service is just unacceptable in this competitive market!