ZenithIndex (zenithindexfx.com) is an online contract for difference (CFD) broker established in May 2024, focused on providing investors with CFD trading services in various markets including forex, commodities, bonds, cryptocurrencies, precious metals, and indices. The platform does not serve residents of the United States, Puerto Rico, Quebec (Canada), the UK, Sri Lanka, New Zealand, Japan, India, Afghanistan, or countries and regions sanctioned by the US Treasury's Office of Foreign Assets Control (OFAC). Additionally, residents of countries or regions where such services are prohibited by local laws and regulations cannot use the platform either.
Platform Services
Trading Accounts
The official website of ZenithIndex does not provide detailed information about trading account types, spread details, the availability of swap-free or Islamic accounts, margin call levels, stop-out levels, trading commissions, leverage ratios, minimum deposit requirements, minimum trade sizes, maximum trade sizes, maximum order quantities, trade execution speeds, or account currencies.
Furthermore, clicking on the "Trading Accounts" button on the website redirects to the homepage, without displaying an actual trading account page.
Trading Platform
This broker provides users with the MetaTrader 5 (MT5) trading platform, a multi-asset software supporting a wide array of financial products, including forex, stocks, and futures. The MT5 platform features a wealth of technical analysis tools, automated trading functionalities, and depth of market (DOM), aiding traders in conducting market analysis and executing trades more efficiently.
Deposit and Withdrawal Methods
The website of ZenithIndex does not clearly list the payment methods it supports. Similarly, when clicking on the "Deposit and Withdrawal" option, the page returns to the homepage, providing no actual page details.
Contact Information and Social Media
Although the ZenithIndex website displays icons for mainstream social media platforms such as Facebook, Instagram, and Twitter, the corresponding accounts are not actually set up, and clicking on these icons does not lead to any links. Users can only contact the broker through the online form, email, and phone provided on the website.
Company Background and Regulatory Verification
Company Background
According to the information at the bottom of the zenithindexfx.com page, this broker is operated by ZenithIndex Limited with a South African license number of 15710.
In contrast, the "legal" page hidden on the broker’s website shows ZenithIndex was established in 2019 and operated by Pipspool (Pty) Ltd. The company is registered in South Africa at 5 Weder Street, Greyton, Western Cape, 7233, with registration number 2023/695155/07, and claims to be authorized and regulated by the South African Financial Sector Conduct Authority (FSCA) with FSP number 53319.
Regulatory Information
Upon verification, the FSCA website shows that the company with FSP number 53319 is FINSTACKS (PTY) LTD, not Pipspool (Pty) Ltd. Similarly, the FSCA website shows that the company with license number 15710 is SHAMMAH FUNERALS CC, and its license was revoked in 2009.
Conclusion
ZenithIndex is a CFD broker that launched in May 2024. However, the regulatory information claimed on its website does not match official regulatory records, and the website lacks detailed information about trading accounts, trading platforms, and deposit and withdrawal methods.
Risk Warning
Trading CFDs carries a high level of risk due to market volatility, which can lead to a loss of principal. Leverage trading magnifies both risks and potential rewards. Before engaging in trading, investors are advised to fully understand the market volatility and the mechanisms of CFD trading, and to assess their own risk tolerance. Trading should only be considered by those with the requisite experience and knowledge, to avoid uninformed investments.
