Before Trading with Zeal Capital Market, See if Zeal Capital Market is the Right Broker in this Zeal Capital Market review and Why It’s on Our Broker Alert List
Before you consider trading with Zeal Capital Market, it’s important to evaluate whether this broker is the right choice for you. Zeal Capital Market has been flagged on our broker alert list due to several red flags that suggest potential risks for traders. This comprehensive Zeal Capital Market review will assist you in making an informed choice. For more information on the main issues with this broker, see the Zeal Capital Market review.
Website: https://www.zfx.com/
Website Availability: YES
Official Address: Room B11, First Floor, Providence Complex, Providence, Mahe, Seychelles
Regulation: Unregulated
Warned By: Comissão de Valores Mobiliários (Brazil)
Domain Status:
Name: ZFX.COM
Registry Domain ID: 2753756_DOMAIN_COM-VRSN
Registered On: 1993-02-12T05:00:00Z
Expires On: 2033-02-13T05:00:00Z
Updated On: 2023-04-19T15:43:04Z
Facts that Determine Zeal Capital Market is a Fraudulent Broker
The Securities Commission identified that ZEAL CAPITAL MARKET (SEYCHELLES) LIMITED, also known as ZFX, operates in various countries and actively seeks to attract Brazilian clients through its website, https://www.zfx.com/br, to engage in securities transactions. However, ZFX lacks the necessary authorization from this Commission to act as a securities intermediary in Brazil. Consequently, the Commission publicly declared that ZFX is not authorized to solicit Brazilian clients, as it is not part of the distribution system under Article 15 of Law No. 6,385/1976. ZFX has been ordered to cease all public offerings of securities to Brazilian investors immediately. Non-compliance will result in a daily fine of R$1,000 and potential legal penalties for any prior violations following an administrative process under Article 11 of the same law.
Key Points to Consider When Deciding if a Broker is Reliable or a Scam
There are important considerations to make when reviewing any broker, including Zeal Capital Market, to determine whether the broker is trustworthy or potentially fraud:
- Regulation and Licensing: One of the most important aspects of any reputable broker is their regulatory status. A trustworthy broker should be licensed by recognized financial authorities such as the Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), or the U.S. Commodity Futures Trading Commission (CFTC). Without these licenses, there’s little oversight of the broker’s practices, which increases the risk of unfair practices and financial loss.
- Customer Reviews and Reputation: Reviews from existing or past users provide valuable insights into a broker’s reputation. However, you must ensure the reviews are authentic. Fraudulent brokers often generate fake reviews or manipulate user feedback to create a false image. If the reviews are overwhelmingly negative or too good to be true, they may not be genuine.
- Withdrawal Issues: A hallmark of fraudulent brokers is their difficulty or refusal to allow traders to withdraw funds. If you find it hard to get your money back, it could be an indication that the broker isn’t trustworthy. Always ensure you can easily withdraw your funds from a broker before deciding to trade.
- Clone Websites and False Claims: Scammers often create clone websites that closely resemble the legitimate broker’s website to mislead traders. Be cautious if you come across websites claiming to offer the same services without clear identification of their regulatory status.
- Hidden Fees or Charges: Fraudulent brokers may have unclear or hidden fee structures that make it difficult for traders to understand the cost of trading. A transparent and fair broker will provide clear details about any fees or charges before you make any commitments.
Claim a Refund from Zeal Capital Market?
- Gather Evidence: Keep detailed records of all your communications with Zeal Capital Market, including emails, chat logs, and screenshots of your account activity.
- Chargeback Process: If you made payments via credit card or other secure methods, you may be able to initiate a chargeback. A chargeback can reverse a payment, which may aid in retrieving your funds. Contact your bank immediately to start this process and inform them about the potential fraudulent activities of Zeal Capital Market.
- File a Complaint with Authorities: If a chargeback doesn’t work or isn’t possible, your next option is to file a complaint with the relevant authorities. Regulatory bodies can often investigate and take action against brokers operating without proper licenses or engaging in fraudulent activities.
Why Zeal Capital Market is Under Scrutiny – Broker Alert
Several issues have brought attention to Zeal Capital Market, such as its lack of regulatory oversight, poor user experiences, and other issues raised by traders. You should be cautious when dealing with brokers who don’t provide enough details about their business operations or regulatory status.
At Fraud Complaints, we are dedicated to assisting individuals who have been misled by fraudulent brokers and other deceptive schemes. Our team of experts works to help victims and provide a free consultation.
Be aware of other potential schemes in the trading world, such as Forex Trading Scams, Cryptocurrency Scams, Pump and pump-and-dump tactics, Investment Deceptions, Fake Trading Platforms, Phishing Attacks, Binary Options Deceptions, and more. If you have fallen victim to any fraudulent schemes, including those related to Zeal Capital Market, take action immediately to protect your funds.
If you have already fallen victim to Zeal Capital Market fraud, take quick steps to recover your money. While the process can be tough, patience and completing the proper steps can improve your chances of receiving your money back from Zeal Capital Market.
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Note: The Zeal Capital Market review is influenced by some existing Zeal Capital Market reviews online and we have created an original Zeal Capital Market review based on known facts. We are not responsible for any legal actions taken by any entity favoring Zeal Capital Market company.