Zara FX: current customer reviews in 2023
The Zara FX company claims to set new international standards for convenient trading. According to their data, the company has been providing brokerage services for over 10 years. Is it worth registering on their platform? Before doing so, it is recommended to study the details of legal document verification, current conditions, and reviews from real users. This will help make an informed decision.
What do we know about Zara FX company?
Zara FX is a company that aims to gain trust from users. The broker promises favorable conditions for both institutional and individual traders. According to the company’s statements, they have over 200 professionals in the team providing quality customer service 24/7. However, upon verification, it was found that the contact phone number is invalid, as confirmed by customer reviews.
WHOIS showed that the Zara FX website was registered in 2020 but remained inactive until the end of 2021. Later, active promotion of the company began on an international level, including the Russian segment.
The company does not disclose information about its executives, meaning that in case of problems, there will be no one to take responsibility. Users are advised to carefully study the company’s internal rules.
Regulated broker or not?
The Zara FX brand is managed by the ZaraFX group of companies registered and regulated in the Republic of Mauritius. Although there are no copies of legal documents, there is a license number GB22200742. However, upon checking with the local regulator, it was found that the information about operating in the legal field does not correspond to reality.
The same can be said about ARAZFX LLC, part of the ZaraFX group of companies. According to statements, it is registered and regulated in Saint Vincent and the Grenadines, although the local regulator does not issue licenses to brokers. In the Russian-speaking segment (Russia, Kazakhstan, Belarus), ZaraFX has not obtained permission from any supervisory regulator.
Trading opportunities
Zara FX offers access to trading in currencies, commodities, CFDs, and other instruments. Despite various account types, the company does not specify entry thresholds for each.
Key features of the trading offer:
- Usage of MetaTrader platforms (MT4 and MT5)
- Mobile trading
- Margin call up to 100%
- Stop out up to 70%
- Position hedging capabilities
- Spreads from 0.8 pips
- Commission depends on asset type
- Possibilities for passive income: copy trading, PAMM/MAM, affiliate program
The section regarding fund deposits/withdrawals only contains a list of available payment methods, without details on commissions.
User reviews
Real customer reviews confirm that Zara FX is not a reliable company. Users are advised to look for other trading platforms to avoid the risk of losing their funds.
Scam operation
Scammers promise trading support but actually offer false advice, which can lead to financial loss. The company refuses to take responsibility for damages. Customers are advised to write negative reviews and contact a chargeback service for possible refunds.
Final word
Zara FX is created to deceive newcomers in financial markets, promising favorable conditions that do not match reality in practice. The company’s goal is to lure funds from unprepared investors. Users should be cautious and use services of verified and reliable brokers.
