ALERT | Zenfinex Review: Is it Legit or a Scam

At first glance, the Zfxtrade.com website appears to be rather credible. It has a good layout and is organized to display all the important information a trader could need. And there’s a good reason for that since Zfxtrade.com is an example of what we refer to as a clone website—a well-known scam in which con artists fraudulently utilize the license and other corporate information of a legitimate, regulated company in an apparent attempt to con unsuspecting customers. 

And not only that, but Zfxtrade.com has also already come to the attention of British financial regulators because it is clearly aimed at customers in the UK and has the credentials of a licensed UK FX and CFD broker.

Given the recent warning from the Financial Conduct Authority (FCA) in the UK, Zfxtrade assures us that its entire service is an expression of openness and trust. However, this claim is obviously false.

The two most well-known trading platforms in the forex market, MetaTrader4, and MetaTrader5 are allegedly offered by Zfxtrade. However, when we tried to download the platforms, we were instead forwarded to a very suspicious website called pg.jniosxz004.cn. As a result, we decided against trying to download and install any software from an untrusted source like this out of fear for our online safety.

A leverage of 1:100 to 1:500 was advertised by the broker. A Ponzi scheme that is not operating out of the UK is another red flag. Only 1:30 leverage is available from legitimate businesses. This cap was set by the FCA to safeguard investors from significant losses.

Zfxtrade asserts that several businesses, including the UK-incorporated Zenfinex Limited, represent it, but as we’ve already shown out, this is an obvious fraud. Zenfinex Limited, which is officially licensed and authorized by the Financial Conduct Authority with a license reference number of 816055 and a single approved domain name, zenfinex.co.uk, has absolutely nothing to do with Zfxtrade.com. a website with a name that does not correspond to zfxtrade.com. Therefore, despite the presentation’s appearance of sophistication, this is only a fake website operated by con artists.

So, is Zenifex a scam? Our simple answer: Yes.