FXZANK

Note: FXZANK is to operate via the website - https://www.zankcapital.com/, which is currently not yet functional and no information about the company was immediately available. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.

General Information & Regulation

FXZANK, a trading name of ZANK INTERNATIONAL LTD., is allegedly a forex and CFD provider registered in the United Kingdom that claims to provide its clients with various tradable financial instruments with leverage up to 1:500 and floating spreads from 0.0 pips on the MT4 and MT4 Mobile trading platforms via three different live account types.

As for regulation, it has been verified that FXZANK does not fall under any valid regulations. That is why its regulatory status on WikiFX is listed as “No License” and receives a relatively low score of 1.75/10. Please be aware of the risk.

Market Instruments

FXZANK advertises that it offers access to a wide range of trading instruments in financial markets, including forex, metals, oil, cryptocurrencies, indexes and stock CFDs.

Account Types

FXZANK claims to offer three types of trading accounts, namely Classic, Pro and VIP, with the minimum initial deposit requirements of $500, $10,000 and $50,000 respectively. In comparison, licensed brokers allow setting up a starter account with a minimum deposit of $100 or even less.

Leverage

The leverage provided by FXZANK is capped at 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 & Commissions

All spreads with FXZANK are a floating type and scaled with the accounts offered. Specifically, clients on the Classic account can experience spreads from 1.4 pips, while the Pro and VIP account members can enjoy tighter spreads from 0.8 pips and 0.0 pips respectively. As for commissions, there is no commission on the Classic and Pro accounts, while the VIP account will be charged a commission of $2 per side per 100,000 traded.

Trading Platform Available

The platform available for trading at FXZANK is one of the most notable and preferred trading platforms the market offers - MetaTrader4 and MT4 Mobile. This trading terminal is highly praised by traders and brokers alike due to its ease of use and great functionality. The MT4 offers top-notch charting and flexible customization options. It is especially popular for its automated trading bots, a.k.a. Expert Advisors.

Deposit & Withdrawal

FXZANK says to accept deposits via credit cards, wire transfers, EPay and cryptocurrencies. The minimum initial deposit requirement is said to be as high as $500.

Customer Support

The only way you can approach FXZANK is via email: SUPPORT@ZANKGLOBAL.COM. However, this broker doesnt disclose other more direct contact information like telephone numbers or the company address that most transparent brokers offer.

Pros & Cons

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.