ZumaMarkets Spreads, leverage, minimum deposit Revealed

WikiFX | 2022-11-08 09:52

Abstract：ZumaMarkets, a trading name of Red Pine Capital (Pty) Limited., presents itself as a multi-asset broker registered in Mexico that claims to provide its clients with various tradable financial instruments with flexible leverage up to 1:500 and floating spreads from 1 pip on the MT5 trading platform.

　　Risk Warning

　　Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

　　General Information & Regulation

Feature	Detail
Regulation	No Regulation
Market Instrument	forex currencies, commodities, stock indices and equity shares
Account Type	N/A
Demo Account	yes
Maximum Leverage	1:500
Spread	ECN spreads from 1 pip
Commission	N/A
Trading Platform	MT5 for Desktop, MT5 for Android, MT5 for iPhone and MT5 for iPad
Minimum Deposit	N/A
Deposit & Withdrawal Method	BTC and Bank Transfers

　　ZumaMarkets, a trading name of Red Pine Capital (Pty) Limited., presents itself as a multi-asset broker registered in Mexico that claims to provide its clients with various tradable financial instruments with flexible leverage up to 1:500 and floating spreads from 1 pip on the MT5 trading platform. Here is the home page of this brokers official site:

　　As for regulation, it has been verified that ZumaMarkets currently has no valid regulation. That is why its regulatory status on WikiFX is listed as “No License” and receives a relatively low score of 1.30/10. Please be aware of the risk.

　　Market Instruments

　　ZumaMarkets advertises that it offers access to a wide range of trading instruments in financial markets, including forex currencies, commodities, stock indices and equity shares.

　　Account Types

　　ZumaMarkets claims to offer free demo accounts and real accounts. However, the minimum initial deposit requirement is not disclosed directly.

　　Leverage

　　The specified leverage for different account types at ZumaMarkets varies between 1:1 and 1:500. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.

　　Spreads

　　ZumaMarkets claims to offer ECN spreads from 1 pip, while the industry average is 1.5 pips.

　　Trading Platform Available

　　The platform available for trading at ZumaMarkets is one of the most notable and preferred trading platforms the market offers - MT5 for Desktop, MT5 for Android, MT5 for iPhone and MT5 for iPad. This trading terminal is highly praised by traders and brokers alike due to its ease of use and great functionality. The MT5 offers top-notch charting and flexible customization options. It is especially popular for its automated trading bots, a.k.a. Expert Advisors.

　　Deposit & Withdrawal

　　ZumaMarkets says to accept deposits and withdrawals in BTC and Bank Transfers. Also, at the foot of its website, we found the logos of payment methods, consisting of credit/debit cards such as MasterCard and Visa, as well as e-payments like Skrill, PayRetailers and LetKnow.

　　Customer Support

　　ZumaMarkets customer support can be reached Mon-Fri 10.00 am - 6.00 p.m by telephone: Mexico: +525553509057, Colombia: +576015800496, email: support@zumamarkets.com, live chat or send messages online to get in touch. Company address: Floor 9, Atrium on 5th, 5th Street, Sandton, Gauteng, 2196, South Africa.

　　Pros & Cons

Pros	Cons
• Wide range of trading instruments	• No regulation
• Demo accounts available	• Minimum initial deposit requirement not involved
• Tight spread from 1 pip
• MT5 supported

　　Frequently Asked Questions (FAQs)

Q 1:	Is ZumaMarkets regulated？
A 1:	No. It has been verified that ZumaMarkets currently has no valid regulation.

Q 2:	Does ZumaMarkets offer demo accounts？
A 2:	Yes. ZumaMarkets offers free demo accounts.

Q 3:	Does ZumaMarkets offer the industry-standard MT4 & MT5？
A 3:	Yes. ZumaMarkets offers MT5 for Desktop, MT5 for Android, MT5 for iPhone and MT5 for iPad.

Q 4:	Does ZumaMarkets charge a fee？
A 4:	Like every forex broker, ZumaMarkets charges a spread fee.

Q 5:	Is ZumaMarkets a good broker for beginners？
A 5:	No. ZumaMarkets is not a good choice for beginners. Although it offers free demo accounts on the leading MT5 for different devices, it lacks legitimate regulation.