Zend Trade Review – Withdrawal, Regulation, Scam
If you are looking for a Forex broker, you will quickly discover that there is no shortage. Many of the sites boast about their platforms and expert trading techniques. Many of these sites have even turned out to be scams. One site that has been gaining a lot of notoriety, as of late is the Zend Trade Broker, but what can be said about their services? Are they a legit broker or just another scammer?
About The Company
Zend Trade is a Forex broker that is owned and operated by Zend Trade, INC. The company claims to be located in the United States, but there is no proof that this is their actual location. Their mission statement is to offer unique trading solutions at an affordable price without compromising the quality of the over all product. Their highly trained team claims to maintain a strict decorum about how their customers are serviced. They do provide e-mail addresses where customers can contact a management services in the event that they are not pleased with the services provided by the brokers.
Is The Broker Regulated?
When you are choosing a Forex broker one of the most important things to consider is regulation. When brokers are regulated they will have to adhere to strict Forex trading laws and regulations. This is where the problems start for Zend Trade. There is nothing on their site about regulation. It does not say that they are regulated in the United States or any other country for that matter. What’s even more troubling is that the New Zealand’s regulator Financial Markets Authority (FMA) has issued a warning against the broker. This authority claims that the site offers unrealistic returns and has been blamed for withholding client’s funds.
Offering Managed Trading
One of the impressive features offered by the broker is managed trading. This feature will come in extremely handy for novice trader or someone who has very little experience. This managed account trading allows you to appoint what is known as a private money manager to your account. This is basically like mentors that will help you optimize your risk of exposure, while you are getting the most return on your investment. Zend Trade seems to offer customer solutions for all types of different investments.
Take Advantage Of The Trade Alerts
When trading in the Forex market, you have to know what movements and trends to look for before making a trade. Learning to spot these patterns and interrupt them can really take a lot of skill and time to learn. This is where Zend Trade really excels. They have an advisory group or an in-house team of trading analysts that are constantly monitoring the market. They make predictions about the movements of certain currencies, stocks and indices. These experts will spot and point out the patterns that will provide you with the information that you need to make more informed trades.
These alerts can be sent to you through Skype, SMS, e-mail or even instant messenger. With these services you will never miss out on a trade option.
24/7 Support Available
Zend Trade does offer around the clock support, which is handy since investors from all around the world will be trading. However, it does not say what languages are supported. The site does offer Skype, e-mail and live chat, so just about anyone shouldn’t have a problem getting in touch with technical support should they need to.
High Investment Costs
Zend Trade offers four different account options. It doesn’t not seem that there is a demo account, so you cannot get a sneak preview of the site. However, there are 4 different membership packages available. These are the basic managed account, the standard managed account, and the business managed account. The last option available is the professional managed account. The first account option requires a $500 deposit, which seems excessive.
Zend Trade seems to be great, but it does have some minor flaws. For starters, the broker is too expensive. On top of that, you have to be worried about the regulations. If you’re going to use Zend Trade, you must be willing to take some risks.