ZeegosFX Review (2023)

Is ZeegosFX a scam or a legit broker?

ZeegosFX broker is Non-Regulated Broker. It is NOT SAFE to trade with this company. We have checked the company and there is no authorization or registration of the address, therefore the company seems to be highly suspicious while might operate its services from an absolutely different location.

ZeegosFX is a Forex and cryptocurrency broker. The company is owned and operated by ZeegosFX Ltd. It claims to be located in California, USA and licensed by the International Financial Services Commission (IFSC) in Belize. However, in order to provide financial services in the United States, brokers have no carry a license from its local regulator National Futures Association. We didn’t find any proofs of the ZeegosFX authorization in the USA. 

Belize as a gorgeous tourist destination, while also is a tax haven with a zero tax structure that established its own regulation for financial investment and Forex firms licensing due to high demand and necessity of regulation. Ever since Belize became a known offshore zone and Forex hub, the destination attracted thousands of brokerages seeking an opportunity to be a legitimate firm, yet to skip complicated and costly established procedures. We have a detailed article explaining the risk of trading with brokers from Belize.

Conclusion

We recommend traders to exclude such risks in trading and choose the brokers regulated by prestigious regulatory agencies, such as the FCA and CySec. These regulators have certain requirements and strict rules the firms have to comply with. One of the rules is the segregation of accounts, as it lowers the risk of possible money loss. Another rule is the participation in compensation schemes which guarantee that the client’s losses will be covered in case the broker goes bankrupt or tries to scam traders. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as FP Markets and XM.com. 

You can also share your trading experience with ZeegosFX by commenting on this review.

ZeegosFX website is no longer active.