ZTronFX – The Warning Signs to Look for

ZTronFX

Do you want to trade forex currency pairs? You could also want to trade stocks, or indices, or it may be cryptocurrencies that have drawn you into the world of online trading. It does not matter what instruments you wish to trade; the one ingredient that you will need for this purpose is a broker.

This is an element that has remained consistent in trading, both offline and online. Brokers continue to play a vital role in the process, but it is still as important to choose a professional and reliable one as it was before. However, not all fit this category, as you will learn from this ZTronFX review.

As a matter of fact, you will find that when it comes to the online world, appearances can be quite misleading and deceiving. Therefore, you need to move with a great deal of caution to ensure that you make the right choice, or your trading journey will end even before it has begun.

Why? It is because scams and fraudulent schemes are quite common in the world of online trading. Those behind them know just what tricks to use to get you interested and can disappear with your money.

By the time you realize the truth, it is already too late and the chances of getting your money back are next to nothing. You certainly do not want to find yourself in such a scenario and the only way you can avoid it is to be on your guard. This means you should refrain from making decisions based on appearances when it comes to a broker and always look for any warning signs. Just because a brokerage has an impressive website is no guarantee that their services will be the same.

This becomes apparent in the case of ZTronFX when you take a look at its website. It is presented as a reliable Canadian forex and CFD brokerage, which also has its offices located in other jurisdictions including South Africa and Australia. This sounds quite fantastic because it shows that the brokerage is quite capable. But, when you start looking for warning signs, you will see that ZTronFX is nothing more than a ruse.

You will find a number of warning signs on the ZTronFX website and a couple of them are mentioned as follows.

No licenses or credentials

Signing up with a broker online means trusting them with your money and your personal information. You cannot just do that with any company and you need to be sure of their license and credentials before you do so. After all, the internet is known as a hotspot for scams and you cannot make such foolish mistakes. The problem is that these fraudsters do their level best to convince you of their legitimacy and this is exactly what ZTronFX also tries to pull off.

Since it claims to be based in Canada, you should not be surprised that it offers you license credentials from the Investment Industry Regulatory Organization of Canada (IIROC). Likewise, as mentioned earlier, ZTronFX also claims to be based in South Africa and Australia. Therefore, it claims to have a license from the Financial Sector Conduct Authority (FSCA) in South Africa and the Australian Securities and Investment Commission (ASIC).

If all of this were true, it would have made ZTronFX the best brokerage to use for your trading needs. But, when you follow up and check the online registers of these regulatory authorities for ZTronFX Capital Inc., or just ZTronFX, you will not find them listed. It is clearly lying about its regulation and licensing, which means you cannot believe anything the broker tells you.

Essentially, it means that ZTronFX is a virtually anonymous brokerage because you cannot trust the authenticity of its British Columbia address, given that it cannot be verified. Plus, as it is not regulated, it cannot be trusted to tell the truth about anything. What could be a bigger warning than that?

No trading platform

While the outright lie about its license and credentials is enough for anyone to realize that ZTronFX is just a scam, there are other warning signs that can also confirm this. Another major one is the fact that it claims to be a forex and CFD broker, yet it fails to offer the one feature that it needs to have for fulfilling its purpose; the trading software.

How do you think an online broker facilitates trading? They offer traders a trading software that is used for connecting to the financial markets in real time and executing trades. There can be no trading without the software, so it is a must-have for every legitimate brokerage. Yet, you will find that there is no functional trading software available at ZTronFX at all.

It only provides you with a weird looking dashboard that gives you no option to launch a platform, or download one for that matter. The only option you are given is to make a deposit, which makes it evident that the only thing ZTronFX wants is your money.

No chargeback possible

Checking the deposit methods of an online broker is a must because you want to ensure that you will be eligible for a chargeback i.e. a refund in case you want your money back. It does not matter what reason you may have to want a refund, you just want to ensure you have that option. Authentic companies will have absolutely no issues in offering this option to their clients, but we have already established that it is unlikely for ZTronFX to belong to this category.

Its deposit methods will only confirm this theory because it only supports crypto payments like Bitcoins, and Tether. These payments are irreversible, not to mention anonymous and certainly not eligible for a chargeback. This means that ZTronFX can disappear with your money and you cannot do anything about it at all.

Wrapping Up

Once you have discovered these warning signs about ZTronFX, it is smart for you to steer clear of it and look for a better option.