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Zurich Trade Finco is a broker claiming to be based in the UK and Wales. From the look of things, this appears to be a professional brokerage firm. The design of the website is aesthetically appealing to the eye. Before you think of signing up with the broker, there are a few things to note. ZurichTradeFinco is not an entity recognized by the Financial Conduct Authority. It means that Zurich TradeFinco is not an official broker. Read this full Zurich trade finco review for more.
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The about us page claims Zurich Trade Finco is an international finance company that deals with Crypto and Forex. With Crypto increasingly becoming a lucrative market, there is a chance scammers will strike. The broker claims to offer 24-hour access to a diverse range of trading instruments.
Whether or not the broker is telling the truth, there’s a lot of missing information on their website. We don’t have the exact location of where the company is located. And this is a problem.
On their about us page, they claim to be focusing on increasing the value of members. By offering robust trading tools, the broker wants you to sign up as quickly as possible. One issue we have with this appealing website is anonymity.
We don’t know a single member of this platform. None of the brokers on their payroll is available for comment. There’s no broker profile of any professional working under this platform. This is where anonymity starts creeping in.
Commodities, Crypto, Forex, Indices, and Shares are the trading instruments available on the platform. Members get to choose Exotic, major, and minor currency pairs. You can also trade with Crypto assets even though there’s no information on available pairs.
World stocks are up for grabs from leading industry and tech companies. All said and done, the presentation from this broker is incredible. It has all the signs of a professional broker who knows what they are doing.
The person or people who run this operation remain underground. There’s no information on the actual owner or shareholders of the company. Since this is a private company limited by shares, information on top shareholders should be open to the public.
And this is the main reason why we insist that this is a huge problem for investors. Most are getting into a brokerage partnership deal with an anonymous platform. Anonymity breeds mistrust as the broker can shut down their operation without giving notice.
It seems that there’s a pattern that the broker is following. You will sign up and within a few weeks, notice your account balance increases. According to Lucy, she was ecstatic when she decided it was a time to reach the agreed withdrawal limit.
On hitting the withdrawal tab, she received an email about certain unpaid fees. These fees include withdrawal and account maintenance. It was all a roost to keep her from withdrawing her funds. Today, she is still trying to make withdrawals without any luck.
We expect a valid license with the company claiming to be in Europe, the UK, and Wales. Looking at the entire website, there’s no information on their approval to start a brokerage firm. We had to check with regulators in the region to try and see their compliance.
The FCA does not have a broker with a license under such a name. Zurich Trade Finco is operating without a valid trader’s license. Without proper regulation, this is becoming a risky move since there’s no security of funds.
Investors should ensure they keep away from any broker that fails to have a valid license. Without a license, it means the broker fails to deposit the minimum capital for trading. Your funds are far from safe as the broker does not insure deposits made.
These are the tell-signs that your funds are in the wrong hands. ZurichTradeFinco is not even offering users any copies of their licenses. The broker should come clean on their license status to add credibility on their part.
Zurich Trade Finco is furnishing anyone who wants to join them with three account types. The three accounts are Standard, Gold, and VIP. To sign up with these accounts, you need to meet their minimum deposit requirement.
For the Standard account, members must deposit $500. Gold account members must deposit $5,000 to start trading. VIP account holders must deposit $50,000 to start trading. The minimum balance that the industry has set is $250, and this broker doubles that amount.
There are no commissions on these accounts, and members get instant execution. A margin call is set at 80 percent on all account types. You also get a professional account manager who claims to offer support.
A senior chief analyst is only available to Gold and VIP account holders. There’s an option for anyone looking to have an Islamic account. The spread is 1.3 for a standard account, 1.5 for a Gold account, and 0.1 for VIP account holders. There’s maximum leverage of 1:30 for all accounts.
You can get in touch with the broker via chat, email, and telephone. Their chat tab uses Russian as the default language, a pointer; these are offshore brokers. There are several numbers that you can use to try and contact the broker.
Most of these numbers seem to be virtual numbers, and we can’t fully trust them. Take extra caution on who you offer your personal details to. These anonymous platforms may sell your information to unreliable sources.
The platform makes sure anyone from any part of the globe can make deposits. You can deposit via MasterCard or Visa. One issue we have with this broker is a lack of transparency on their withdrawals. Lucy is not the only member who is complaining about the lack of withdrawal.
Other members are coming out guns blazing since no one seems to comment on it. The broker is totally unreliable and taking advantage of unsuspecting investors.
There’s a web trader who offers a huge security risk for members. The web trader is custom-built to allow credit transfer. Members may fall victim to hackers when depositing using their credit and debit cards.
With the platform’s security at risk, a chance hackers are plotting to take advantage. We didn’t see any security software on the website to protect users from such attacks.
With the broker remaining anonymous, the security of funds is out of the question. The broker does not have a valid license from regulators. There are more risks than rewards with this platform, making it a turn-off.
The best option is to ignore the website and look for better alternatives. There’s no safety when it comes to online anonymity, and chances are, these are scam brokers. T
Zurich Trade Finco is a scam and thus, should not be taken seriously.
We won’t be recommending a broker who fails to give users information on their whereabouts.
A safer way of operating is signing up with transparent brokers. These are the right experts to help you navigate the online trading world.
We wish all investors and traders a successful trading experience.
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