In the FxGecko app, you can reference the top 100 forex brokers for your selection. If not in the top 100, pay special attention to the broker's primary white label relationships and risk alerts.

A number of investors have recently reported that Zeno Markets is unable to withdraw their funds and questioned its safety.

Based on information from the FxGecko app, here are some risk signals associated with Zeno Markets:

Trading Name: Zeno Markets  

Company Name: Zeno Markets Limited  

Established: 2021  

FxGecko Rating: 2.02/10 (High Risk)  

Company Background and Team:  

Zeno Markets has not provided any information about its company background or team, which is a significant red flag for potential investors. Transparency is crucial in the forex industry, and the lack of such fundamental details should raise concerns.

Regulatory License:  

Zeno Markets claims to be registered in Saint Vincent and the Grenadines and authorized by the MWALI International Services Authority as an international broker and clearing house, with license number T2023177. However, this claim is dubious for several reasons:

1. Saint Vincent and the Grenadines: The Financial Services Authority (FSA) in Saint Vincent and the Grenadines does not issue licenses for forex trading or brokerage activities. This means that Zeno Markets’ claim of being registered here does not provide any real regulatory oversight or investor protection.

2. MWALI International Services Authority: While Zeno Markets claims to be authorized by this body, the regulatory authority of MWALI is not widely recognized or trusted in the international financial community. Furthermore, upon checking the MWALI International Services Authority’s website, Zeno Markets Limited is listed under “Suspended Companies.” This indicates that the company may have violated regulations or failed to comply with necessary requirements, further exacerbating the risk for investors.

These factors combined suggest that Zeno Markets operates without valid regulatory oversight, putting clients’ funds at significant risk.

White Label Relationships:  

Zeno Markets operates 2 MT5 servers and has white-label relationships with 31 associated brokers. This extensive network of associated brokers can add to the complexity and lack of transparency. Such an operational model can make it challenging for investors to trace and resolve issues when they arise. You need to keep an eye on these affiliated brokers for anomalies or runs. This could be a potential business risk and past history of the broker. Broker relationship data comes from MetaQuotes data.

Customer Reviews:  

The overall customer feedback for Zeno Markets is poor. Many investors have reported being lured in by promises of high returns, only to find themselves unable to withdraw their funds. These complaints are consistent with common tactics used by fraudulent brokers to trap and exploit unsuspecting traders.

Conclusion

Zeno Markets presents numerous red flags that potential investors should heed. From dubious regulatory claims and lack of transparency to serious customer complaints about fund withdrawals, the broker exhibits several characteristics typical of high-risk and potentially fraudulent operations. Traders are strongly advised to avoid Zeno Markets and instead choose brokers that are well-regulated, transparent, and have a positive reputation in the industry.

Investors should always conduct thorough due diligence before engaging with any forex broker. Ensuring that the broker is properly regulated by a recognized authority and has a solid track record of customer service and financial integrity is paramount to safeguarding your investments.

Stay Informed, Stay Safe!

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