Zeta Trade, first disturbing circumstance about Zeta Trader is that the owning company is the notorious P24O. The duplicitous company was blacklisted by The Malta Financial Services Authority (MFSA) more than once.
When the owning company is known for blatant lies and manipulative behavior toward customers, the broker can’t be expected to be any different.
Zeta Trade website insists on being regulated by MFSA. However, the last warning issued by MFSA against P24O was in May 2022. The published alert says that the P24O entity claiming to be licensed by MFSA is misusing another licensed company’s details.
The article was published here:
Regulation and Safety of Funds at Zeta Trade
Despite Zeta Trade claiming to be fully regulated and licensed by US financial authority as well as MFSA, this is a false claim. This statement has been rebuked multiple times by MFSA which has blacklisted the owning company of Zeta Trade.
These facts serve as solid proof that Zeta Trade is not a broker you can trust to keep your investment safe and provide a good trading environment. Every licensed broker is obligated to respect and practice a fixed set of rules, established by jurisdictional regulators.
To ensure that brokers are running their businesses while following those standards, financial authorities always keep them in check. Zeta Trade doesn’t oblige to those rules and is therefore not trustworthy.
Zeta Trade Trading Software
The broker lists MetaTrader 5 as the available trading platform. However, manipulative usage of trading software is quite characteristic of fraudulent brokerages. It is advised to rather contact a legitimate broker that offers trading done on MT4 and MT5.
Developed by MetaQuotes MT5 and its predecessor MT4 are widely recommended platforms today. Used by millions of satisfied customers, this powerful software was developed to deliver the best trading experience and a reliable environment for traders.
Deposit and Withdrawal Options
Supposedly supported ways of funding various account types are Bank Transfer, crypto, credit/debit cards, and some E-wallet methods. Using these, clients are able to make instant deposits and start trading as soon as they wish to.
The minimum amount needed to be deposited before being allowed to trade is $100. Clients are convinced that depositing is secure and trackable.
Withdrawals are claimed to be processed exceedingly fast, in just about 1 business day and they don’t require fees or taxes paid. A widely known fact is that scammers tend to make the withdrawal process extremely difficult for a reason.
They don’t genuinely intend on giving the funds back to clients, so withdrawing is conditioned by fees, taxes, and unexpected trading volume requirements.
Offshore Brokers’ Fraudulent Tricks
We have encountered some pretty attractive promises made by Zeta Trader on their website. These refer to good trading conditions, reliable trading software, and no deposit or withdrawal fees. Every unlicensed phony broker is distinguishably characteristic of these assuring statements.
Scammers are resolved to convince investors to deposit funds to allegedly win a huge amount of money in a very short time. All this is not true and the only motive persisting is committing cyber theft. Keeping their anonymity, scammers get away with the fraud committed and are unpenalized.
Recommended Forex Brokers
The regulated broker should always be a preferred choice over a suspicious one. There’s no need to risk being robbed when you can invest safely and trade under quality conditions.
Every licensed broker has to be fully transparent and honest about all trading conditions, less or more favorable to traders, including risks.
Investors are advised to inspect all those conditions in detail before deciding which broker would suit their trading needs best. We have listed some recommended brokers for you below:
|FXTM Broker||Cyprus, UK, Mauritius||4.5||$10||Forextime.com|
|OctaFX Broker||Cyprus, SVG||4.4||$100||OctaFx.Com|
|FP Markets Broker||Australia, Cyprus||4.7||$100||FpMarkets.Com|
|XM Broker||Cyprus, Belize, Australia||4.7||$5||Xm.Com|
|HFM HF Markets Broker||Cyprus, UK, South Africa, UAE, Kenya||4.3||$5||Hfm.Com|
|FBS Broker||Cyprus, Belize, Marshall Islands||4.85||$100||Fbs.com|
Zeta Trade Summary
Before deciding to invest money with any broker, please be advised to first make sure that the broker is operating under regulation.
Licensed brokers are offering far better customer privacy protection and the safety of clients’ funds. This is the first thing unscrupulous brokers cannot provide. It is so simply because they function with the ambition to steal from their customers.
Since Zeta Trader is no different, as a potential investor, you are suggested not to invest with this phony. Instead, make the right choice and pick an acclaimed, regulated brokerage company.
For all the readers of this article that have been scammed or fallen victim to cyber fraud of any kind, please share your experience with us. Help raise awareness against scamming schemes that are perpetuated every day in the growing online trading community.
FAQs About Zeta Trade Broker
Is Zeta Trade a Good Broker?
No, Zeta Trade cannot be considered to be a good broker when they are operating without a license.
What Is The Minimum Deposit for Zeta Trade?
The initial deposit amount depends on the account type chosen. The minimum deposit amount needed for Zeta Trade is $300.
Does Zeta Trade Offer a Demo Account?
Yes, Demo Account is a type of account available to be opened with Zeta Trade.