Review of FX broker Zero Markets – Can it be trusted?

Over the last few decades, Forex trading has grown a lot. Today, there are many Forex brokers who offer unlimited services to people around the world, but, at the same time, the risks are very high. Today, it has become very hard for traders to tell whether a broker can be trusted, which creates many problems for investors. It is becoming very hard for people to find trustworthy Forex brokers, and the market today has become a place full of scam companies.

We have prepared a review of Zero Markets FX broker, which is a fairly newly established company, located in Australia. This Forex broker claims to be a safe investment option for people around the world, but while working on this review, we found that this company actually has a number of problems. To make sure that you and your funds stay safe, we encourage you to read our detailed review.

The Safety and Security of  Zero Markets

According to the information provided by this Forex broker, it owned a license from Australia’s main regulatory agency, the Australian Securities and Investments Commission. Generally, this regulatory agency is considered to be a safe one, but if we look at the offerings of this Forex broker now, the broker seems to be regulated by Mauritius Financial Services Commission (FSC) as of now. This is a significant downgrade in terms of regulations and overall client fund safety.

The broker claims that it keeps the funds of the investors in segregated bank accounts, which is a good thing. Tt does offer investors negative balance protection. This type of protection is of utmost importance, especially when you are trading with high leverage.

The leverage at Zero Markets can get as high as 1:500, which is a huge number. Trading with such high leverage can be very dangerous for investors. It is especially risky to trade with high leverage if you are new to the Forex market. Mostly, newcomers do not really understand everything behind leverage and they trade with high leverage. In this case, if anything goes wrong, investors might lose more than they have deposited in their account in the first place.

Our review of Zero Markets shows that this broker offers basic safety measures for these situations. So, because of this, we conclude this broker is relatively safe when it comes to security measures. Forex trading is generally a very risky market, because of this, you should make sure that you are doing everything to stay safe, and sadly, this broker can not offer you enough tools for safety.

Zero Markets Fees and spreads

The spreads on major pairs for the standard account start from 1 pip and the average spread is around 1-1.3 pips. This kind of spread is well within the industry average and is very attractive for day traders and swing traders. The second account offers spreads from 0.0 pips which is excellent for scalpers, but there is a trading commission for 100k traded. The commission is 2.5 USD per side per lot, meaning for every 100 000 USD traded the trader will have to pay 5 USD. This is below the industry average of 7 USD round turn and Zero Markets seems to live up to its name of offering zero spreads with super competitive commissions.

There is no inactivity fee charged and swap rates are attractive.  Overall, the broker offers pretty attractive trading conditions with low spreads and fees.

Zero Markets Accounts, deposits, and withdrawals

The two main account types offered by Zero Markets are Standard and Super Zero accounts. There is a swap-free Islamic account as well which is targeted at Islamic traders. The standard account is focused on commissionless trading with average spreads from 1-1.3 pips. This is great for day traders and swing traders. The Super Zero Account, however, addresses traders who prefer small commissions but lower spreads from 0.0 pips.

The leverage is capped at 1:500 which is a very good number and the minimum lot size is set to 0.01 lots. With this low lot size, micro-account-like trading is possible.  minimum deposit is 100 AUD or equivalent which is above the average number. Still, with these terms, it is possible to trade low lot sizes and learn trading before switching to higher lot sizes.

Deposits, and Withdrawals

Methods for deposits and withdrawals include Neteller, Skrill, online banking, Finrax, Interac, Sticpay, Pagsmiel, Ebuy, cryptos, Epay, and Skrill LATAM. With these many methods depositing and withdrawing should not be an issue. The fees for deposits are zero, and for withdrawals only Epay is without charges. All other methods may apply 1% and more. These fees may be changed and clients can see them in the client portal when they request a withdrawal.

What are the Trading assets and features of Zero Markets?

According to the information provided by the broker, there are more than 10,000 trading assets available for investors. However, as we have checked, most of the markets are very hard to access and it might be a huge challenge for investors. The most popular markets around the world are Forex trading, Zero Markets said that it offers 45 currency pairs. According to Zero Markets, you can trade the following assets:

• Forex
• CFDs
• Indices
• Precious Metals
• Commodities
• Cryptocurrencies

However, the thing that is very interesting about this Forex broker is that they claim to not have any commissions and fees. Also, the spreads are very low, standing at zero or 0.1. According to our Zero Markets review, this is a very unrealistic thing, which once again leads us to believe that this Forex broker is trying to attract as many people to their platform as they can.

The thing about Forex brokers is that they need some type of income, which, in most cases, are the fees and commissions. Since this broker is claiming that they are not charging any fees and commissions, it means that they are getting their income from some other way, which, mostly is by scamming people.

Trading Platforms of Zero Markets

Our review of Zero Markets shows that this broker offers several trading platforms, such as MetaTrader 4, MetaTrader 5, WebTrader, and mobile applications as well. The thing is, MT4 and MT5 are known to be some of the most used platforms around the world, and they offer access to a huge trading market. But, somehow, this does not work well with this broker at all.

The mobile application, which should make trading easier for investors, is basically useless. After trying it out on our own, we could not use it for anything. It was very hard to go around the application and find the things that we needed.

Website and the Customer Support team of Zero Markets

The website of Zero Markets is full of all the necessary information, which makes it easy for investors to find the information that they need. During the process of the review, we could find most of the information on the website. And the ones we could not locate were quickly offered by the representatives of the company via live chat. The broker seems to have improved many aspects of their website and offers many useful features nowadays. the live chat is the fastest way to get all the necessary help from the team of Zero Markets.

Other support methods offered by Zero Marekts include a hotline and email support. But since there is a well-structured and feature-rich live chat other methods are not of an issue to us.

Education at Zero Markets

Previously, there were no educational resources on this broker’s website. But currently, the broker managed to create a special section on their website where all educational materials and blogs are united under the same menu. All educational materials are under a blog section and offer diverse resources and news articles.

In the world of Forex, one of the most important things is for investors to be able to get as much information about the ongoing events on the market as they can. The thing is, the Forex market is changing every moment, and if you do not have enough information about the ongoing events, you will end up having a very hard time making decisions.

This Forex broker does offer any educational material, which is another reason for us to believe that Zero Markets has improved greatly since our first review years ago.

Should you consider this broker Zero Markets?

As our review shows, this Forex broker has improved after our initial review of them. The only downside we have spotted about Zero Markets is their downgrade in the regulations department. This is why it is hard for us to recommend this broker to our beloved readers. The improvements from this broker are noticeable and great news. we hope the company continues its journey with even more improvements in the future so we can come back and recommend them to our readers.