ZenithIndex (papatso.com) is an online Contract for Difference (CFD) broker established in March 2024, offering CFD trading services in markets such as foreign exchange, commodities, bonds, cryptocurrencies, precious metals, and indices. The platform does not serve residents of the United States, Puerto Rico, Quebec in Canada, the United Kingdom, Sri Lanka, New Zealand, Japan, India, Afghanistan, and countries or regions sanctioned by the Office of Foreign Assets Control (OFAC) of the U.S. Treasury Department. Additionally, residents of countries or regions where such services are prohibited by local laws and regulations cannot use the platform.
Platform Services
Trading Accounts
On the ZenithIndex website, there was no information found regarding trading account types, spread details, swap-free or Islamic accounts, margin call levels, stop-out levels, trading commissions, leverage, minimum deposit requirements, minimum trade size, maximum trade size per transaction, maximum number of orders, execution speed, and account currencies.
Moreover, clicking on the "Trading Accounts" button on the website redirects to the homepage without showing any specific trading account page.
Trading Platform
This broker provides users with the MetaTrader 5 (MT5) trading platform, a software supporting multi-asset trading including forex, stocks, and futures. The MT5 platform is equipped with extensive technical analysis tools, automated trading capabilities, and Depth of Market (DOM), assisting traders to efficiently analyze markets and execute trades.
However, when searching for this broker on the MT5 trading platform, it was found that their website is zenithindexfx.com, rather than papatso.com.
Deposit and Withdrawal Methods
ZenithIndex's website does not clearly list the supported payment methods. When clicking on the "Deposit and Withdrawal" option, the page similarly redirects to the homepage without providing any actual page details.
Contact and Social Media
Although the ZenithIndex website displays icons for major social media platforms like Facebook, Instagram, and Twitter, there are no actual accounts linked, and clicking these icons does not lead anywhere. 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 information at the bottom of the papatso.com page, the broker is operated by ZenithIndex Pty Ltd, with registration number 2019/388557/07.
However, on the broker's website's hidden "legal" page, it is stated that ZenithIndex was established in 2019 and operated by Pipspool (Pty) Ltd. The company is registered in South Africa, with a registered address of 5 Weder Street, Greyton, Western Cape, 7233, registration number 2023/695155/07, and claims to be authorized and regulated by the Financial Sector Conduct Authority (FSCA) of South Africa, 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. Furthermore, the FSCA website did not list a regulated company named ZenithIndex Pty Ltd.
Conclusion
ZenithIndex is a CFD broker launched in March 2024. However, the regulatory information claimed on its website does not match official regulatory data, and the site lacks detailed information about trading accounts, trading platforms, and deposit and withdrawal methods.
Risk Warning
CFD trading involves high risks; market volatility can lead to losses of invested capital, and leverage trading amplifies risks and potential gains. Before participating in trading, investors should fully understand market volatility and CFD trading mechanisms, and assess their own risk tolerance. Consider such trading only if you possess sufficient experience and knowledge, avoiding blind investments.
