Updated on April 15, 2024
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In our rigorous review process, a team of seasoned financial specialists, boasting more than 20 years of experience in Forex trading, carries out an exhaustive evaluation of various trading services. Our team delves deep into the investigation of fees, assesses the trading platforms, and verifies adherence to regulatory standards. We also interact directly with customer support and conduct actual trades to gain a real-world understanding of the trading conditions. This comprehensive approach enables us to provide informed insights and advice on why we recommend avoiding Anzo Capital due to the issues we've identified.
Is Anzo Capital Scam or Legit Broker? ▲
Regrettably, Anzo Capital falls short of being deemed a reliable brokerage entity. This is primarily attributed to its lack of a prestigious regulatory license, opting instead for mere registration. Specifically, Anzo Capital has established itself in St. Vincent & the Grenadines as an international business entity under the registration number 308 LLC 2020. Furthermore, Anzo Capital Limited is subjected to regulation by the Financial Services Commission of Belize, bearing the registration number: 000005722 and license number: 000331/469.
However, both St. Vincent & the Grenadines and Belize are recognized as offshore jurisdictions. These territories are notorious for their insufficient protective measures and lenient regulatory frameworks, which are crucial for creating a safe and secure trading milieu for investment and trading activities.
Anzo Capital is categorized as an offshore brokerage, offering Contracts for Difference (CFDs) on a diverse array of over 100 financial instruments, including forex, stocks, indices, and metals. The brokerage endorses both MetaTrader 4 and MetaTrader 5 trading platforms, presenting traders with the option of selecting an STP account featuring spreads commencing at 1.4 pips. Additionally, Anzo Capital has made a concerted effort to furnish educational resources specifically tailored for novice traders, aiming to bolster their trading acumen and proficiency.
Nonetheless, our thorough investigation into Anzo Capital has unveiled significant drawbacks, among which the most glaring include:
Insufficient Regulatory Oversight: Anzo Capital's registration in both St. Vincent & the Grenadines and Belize emphasizes the inherent risks associated with offshore brokers, which often operate under lax regulatory supervision.
Potential for Market Manipulation: The lack of stringent regulation and oversight can foster an environment ripe for market manipulation, adversely affecting the integrity of trading data, the susceptibility of orders to manipulation, and overall unfavorable trading conditions.
Negative Client Feedback: An array of clients have expressed discontent with their trading experiences, citing issues related to fund withdrawals, subpar trading conditions, and unannounced account closures.
Withdrawal Complications: A critical aspect of our broker evaluation is the efficiency of the withdrawal process. Anzo Capital has attracted numerous complaints about its withdrawal mechanisms, with traders facing obstacles in accessing their funds and encountering abrupt account closures postwithdrawal attempts.
Overall Anzo Capital Ranking ▲
In light of our exhaustive research and analysis, we harbor significant concerns regarding Anzo Capital's trustworthiness and regulatory compliance. Consequently, we are unable to confer a favorable review on Anzo Capital.
Our Overall Ranking for Anzo Capital is a disappointing 1.0 out of 5, following our assessment and in comparison with 1000 other brokers.
For those interested in STP accounts, Anzo Capital mandates a minimum deposit of $100. Conversely, ECN accounts necessitate an initial deposit starting at $500. The leverage options vary according to the account type chosen; STP accounts are offered a maximum leverage of 1:500, whereas ECN accounts can avail of leverage up to 1:1000. Both account categories are characterized by floating spreads.
In terms of commission charges, STP accounts are exempt from any fees, while ECN accounts incur a commission of $4/lot RT or €4/lot RT.
Reflecting on the information garnered regarding Anzo Capital, there are profound reservations concerning the broker's integrity and reliability. The absence of a solid regulatory framework, combined with adverse client testimonials concerning withdrawal processes and questionable account termination practices, casts a shadow over Anzo Capital's dependability.
Therefore, we strongly recommend giving precedence to brokers that are stringently regulated and possess a commendable market reputation, offering transparent and fair trading conditions. It is prudent to opt for brokers that are authorized by reputable regulatory bodies such as the FCA, ASIC, or CySEC. A host of regulated brokers exist that are both trustworthy and provide attractive trading options, thereby making it judicious to select from among these established entities instead of exposing oneself to heightened risks with Anzo Capital.
Our overall assessment and experience with Anzo Capital are unequivocally negative, underscoring the importance of choosing a reliable and regulated brokerage for your trading needs.
When considering alternatives, brokers like Interactive Brokers, City Index, and AvaTrade stand out. They not only offer the security of stringent regulation but also bring to the table comprehensive trading solutions that can meet the needs of both novice and seasoned traders.
Anzo Capital Review 2024
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