• Home
  • Blog
    • Business Partner Magazine Archive
  • Free Contests and Giveaways
  • Resources
  • About Us
    • Cookie Policy
    • Disclosure Policy
    • Privacy Policy
    • Terms of Website Use
  • Contacts

Business Partner Magazine

Tips and advice for entrepreneurs, start-ups and SMEs

  • Business Success
  • Marketing
  • Finance
  • Employees
  • Technology
  • Start-up
  • Productivity
  • Communication

Is ZumaFX a legit broker?

April 9, 2021 by Contributed Post

Click here to get this post in PDF

Too long to read? Enter your email to download this post as a PDF. We will also send you our best business tips every 2 weeks in our newsletter. You can unsubscribe anytime.

Enter your NameEnter your Email Address
wicks and candles - trading charts

There are many questions when choosing the broker. You can choose the broker with the lowest minimum deposit or with the best leverage. But what you need for sure is a legit broker. Broker that is regulated by at least one top-tier regulatory body and has a good reputation. Despite its regulation, ZumaFX is not one of those. Why? Read our ZumaFX review and find out.

Regulated by: FSCA
Headquarters Country:South Africa
Foundation year:Not mentioned
Platforms:MT5
Instruments:FX, Stocks, Commodities

ZumaFX Regulation and Security

ZumaFX is a broker owned by Red Pine Capital (Pty) Ltd. This name is very familiar to anyone who ever checked warnings against brokers. Because Red Pine has plenty. ZumaFX is a brand established in South Africa, with FSCA regulation. Besides this brand, Red Pine is the owner of a couple of other scams, such as Trade245.

When you visit the website of ZumaFX, you will see that M&N Equity Research allegedly owns this brand. However, this company is simply making financial reports and is not related to trading or ZumaFX.

So far, it looks like our broker is far from legit.

What can you trade with a ZumaFX broker?

ZumaFX broker allows traders to trade with currency pairs, stocks, and commodities. Not just that the choice is below standard, but even this they cannot do properly. The leverage that the company provides is 1:500. The trading platform of ZumaFX broker is MT5. This platform is not a preferred choice of MetaTrader since all the experienced brokers prefer the MT4.

Also, the broker is offering automatic trading, which is highly suspicious. Most of the scams nowadays begin by broker allegedly having automated software that is very safe. In the end turns out that the software didn’t exist, and the broker is everything but safe.

We can conclude that this broker is not even trying to conduct a proper scam, just offering anything.

currency investment trading charts

Deposit and Withdrawal Methods

When it comes to deposits and withdrawals, information is pretty limited. Nowhere on the website of ZumaFX broker is listed what the minimum deposit with this broker is. The only thing we can see is the deposit methods. The deposit methods are debit and credit cards, wire transfers, and E-wallets. In the same way, you can make withdrawals. What we don’t know is how much the broker is charging for withdrawals. Are there any fees for deposits, any commissions? Well, that’s yet to be seen since the website doesn’t give absolutely any information.

Conclusion about ZumaFX

Based on everything so far, we can conclude in our ZumaFX review that the broker is not transparent, not legit, and not safe. If you are looking for a legit broker, ZumaFX should be the last on your list. Or even better, it shouldn’t even be on your list. It would be best to avoid this broker at all costs because there are many not satisfied clients. If you are still not convinced, more reviews about this broker can be found here scambrokersreviews.com

You may also like: Top Reasons Why Should You Get Advisor for Your Investments

Filed Under: Featured Posts, Finance Tagged With: Featured Post, finance, Investments, Trading

  • Facebook
  • Instagram
  • LinkedIn
  • Pinterest
  • Twitter
  • YouTube

Disclosure

We earn commissions if you shop through the links on this page.

Recent Posts

  • Unforgettable Adventure Experiences: A Catalyst for Business Expansion
  • The Role of Communication in Effective Debt Recovery
  • Insulating a Home – What’s Involved?
  • 8 Ways to Protect the Environment
  • 8 Great Careers For Business Management Graduates

Categories

Archives

Make Money Online – Free Course

  • Discover All The Shortcuts To Affiliate Marketing Success
  • Find Out How To Fill Your Site With New Leads And Customers
  • Discover How To Turn Your Passion Into Profits
  • Learn How To Write Copy That Gets Results Fast!
  • Discover How To Create Promote & Sell Your Own Products Online
  • Everything You Need To Know About Marketing Money Online
  • Strategies For Successful Web Entrepreneurs Inside
  • Discover How To Invest Smarter Grow Faster And Retire Rich
  • Email Marketing Strategies For Marketers And Entrepreneurs
  • Free training reveals how to build a successful six figure income online
  • Discover The Mindset Hacks You Need To Succeed
  • Free Marketing Memberships – Make Money Online

    Make money online free marketing memberships

    Tags

    Accounting apps bitcoin brand business growth business skills business success communication cryptocurrency Customer Service Data design Digital marketing ecommerce Efficiency employees Featured Article finance finances Health and Safety infographic insurance Investing investment legal legal tips Management Marketing marketing strategy Outsourcing productivity property Real estate sales security SEO Social Media software starting a business startup Technology Trading Training website workplace

    Disclosure

    We earn commissions if you shop through the links on this page.

    Digital Marketing Agency

    ReachMore Banner

    Business Partner Magazine

    Business Partner Magazine provides business tips for small business owners (SME). We are your business partner helping you on your road to business success.

    Have a look around the site to discover a wealth of business-focused content.

    Here’s to your business success!

    Copyright © 2023 - Business Partner Magazine·