Determining the legitimacy of AGX ZEN can be a murky journey, riddled with red flags and questionable practices. While they present themselves as a reliable forex and CFD broker, a closer look reveals a pattern of inconsistencies and negative user experiences that paint a concerning picture.
What is AGX ZEN?
AGX ZEN claims to be a global forex and CFD broker, offering access to a variety of trading instruments on their proprietary platform. They boast tight spreads, competitive leverage, and educational resources for traders of all experience levels. However, their website lacks transparency about their regulatory status, ownership structure, and physical location. This opacity raises immediate concerns about their legitimacy.
AGX ZEN Details
Regulated by: | Unregulated Broker |
Is This Company Safe? | No, this company displays fraudulent signs so better stay away! |
Known Websites: | agxtrd.com |
Have Warnings from: | N/A |
Registered in: | N/A |
Operating since: | September 2023 |
Trading Platforms: | N/A |
Maximum Leverage: | 1:400 |
Minimum Deposit: | $240 |
Deposit Bonus: | No |
Trading Assets: | Forex, Commodities, Indices |
Free Demo Account: | No |
How to Withdraw from This Company? | You will not be able to simply cash in profit. Better consult our legal professionals for help recovering lost funds. |
Deposits and Withdrawals
AGX ZEN offers a limited selection of funding methods, including credit/debit cards, wire transfers, and e-wallets like Skrill and Neteller. Notably absent are secure options like PayPal or regulated payment processors. Withdrawal processing times remain ambiguous, with user reports citing lengthy delays and unexplained deductions.
If you have lost money to companies like LumineTrade, or UniversalTrade; please report it to us on our Report a Scam form.
Account Types
For some reason, the option to create an account is not available at the moment. These packages all purport to provide a personal account manager, low leverage of 1:10, and negative balance insurance.
But are they reasonably priced? No, not at all. Do they deliver on their promises? Naturally, no. Even the minimum deposit required differs from what the FAQs say. Look at the costs, and everything will become very evident:
- Mini – 2,500$
- Green – 5,000$
- Premium – 25,000$+
Red Flags and Warning Signs
To give the impression that they are a well-known brokerage company worldwide, the scammers have included multiple locations on their websites. This particular company is said to have offices in Cyprus, South Africa, the UK, and Switzerland, among other nations.
Regulators who oversee the markets in the aforementioned countries are listed in multiple databases, therefore regrettably, our skilled detectives have not been duped by them. Including FCA, FINMA, FSCA, and CySEC, none of them have any information on this nameless firm.
We can advise you to look into other options right away if you’re still debating whether to invest here or not. You cannot expect data security, fund segregation, or any kind of compensation plan from this fictitious financial services firm.
Customer Complaints and Negative Reviews
A common thread running through AGX ZEN customer complaints is the difficulty in withdrawing funds. Users report being met with a maze of verification requests, exorbitant withdrawal fees, and unresponsive customer support when attempting to cash out their profits. This pattern suggests a deliberate attempt to hinder withdrawals and trap clients’ funds.
AGX ZEN Alternative Brokers
For traders seeking a legitimate and trustworthy forex and CFD broker, numerous reputable options exist. Some well-regulated and established brokers include:
- Interactive Brokers
- TD Ameritrade
- Saxo Bank
- IG Markets
These brokers offer transparent terms and conditions, regulatory oversight, reliable platforms, and responsive customer support, making them far safer and more ethical choices for your trading endeavors.
Got Scammed by AGX ZEN? We Help Victims!
If you’ve fallen victim to AGX ZEN’s deceptive practices, there are steps you can take to seek recourse. Report your experience to relevant financial regulators and file a complaint with online scam reporting platforms. Consider contacting a forex scam recovery expert who can assist you in navigating the legal process and recouping your losses.
Remember, protecting yourself from forex scams starts with thorough research and choosing reputable, regulated brokers. Don’t be lured by unrealistic promises or shady practices. Your hard-earned money deserves better or You Can report to us today by the below form.
