We encourage you to read the complete Zigber review for further insights into zigber.com. Zigber, an offshore brokerage, that claims to operate from St. Vincent and the Grenadines, a region notorious for its lack of regulatory oversight in the forex industry. At this juncture, certain facts are unequivocal: this broker lacks a legitimate forex license and lacks authorization to provide online trading services. Consequently, it’s imprudent to place trust in a company that operates without adherence to any regulations or standards.
Website – http://zigber.com/
Address – Suite 305, Griffith Corporate Centre, Beachmont, Kingstown – St. Vincent and the Grenadines
Warning – Comisión Nacional del Mercado de Valores (Spain)
Regulated – Unregulated
Domain Age –
|Date Registered||August 09, 2022|
|Domain Age||1 year, 2 months, 16 days, 52 minutes, 28 seconds|
Is Zigber legit or a scam broker?
Zigber frequently identifies itself as Belana Group LLC on its website, asserting registration in St. Vincent and the Grenadines. This offshore jurisdiction is known to be a favored haven for fraudulent activities and scams, largely due to its lax oversight by the local regulatory authority, the St. Vincent and the Grenadines Financial Authority (SVGFSA). This regulatory leniency enables fraudsters to operate with minimal hindrance.
In our examination of SVGFSA’s registry, it became evident that zigber.com is not listed as a registered entity, whereas Belana Group appears to have been registered but currently faces pending cancellation.
Zigber Review: Dubious Account Offerings
Zigber presents three account types: Standard, Premium, and VIP. However, the broker conspicuously omits to disclose the minimum deposit requirements for each account type. This lack of transparency is a clear violation of industry standards and raises concerns about the company’s intentions.
False Claims for Trading Platform
Zigber website boldly proclaims the availability of MetaTrader 4 as its trading software. However, once we completed the registration process, it became glaringly evident that this assertion couldn’t be further from the truth. The chart displayed bore no resemblance to MetaTrader 4; instead, it appears to be a proprietary platform developed by zigber.com, albeit lacking the indispensable tools and indicators that MetaTrader 4 offers.
Unpredictable Spreads and High Leverage
Zigber offers “floating” spreads for its Standard and Premium accounts, a term synonymous with uncertainty and potentially unfavorable trading conditions. Moreover, the broker tempts traders with high leverage of up to 1:500. While it may be tempting to employ extreme leverage for quick profits, it comes with immense risks, especially when dealing with an unregulated broker like Zigber.
Zigber Review: Alarming Reviews
A cursory glance at reviews on platforms like Trustpilot reveals a disconcerting trend. A significant number of reviews have garnered a mere one-star rating, indicating a high level of dissatisfaction among users. Many traders have reported issues related to withdrawals, claiming that Zigber delays or refuses withdrawals until all communication ceases.
Zigber Review: Conclusion
Zigber is an entity that raises serious doubts and concerns about its legitimacy as a broker. Its unregulated status, false claims, lack of transparency regarding account types, unpredictable spreads, and enticing yet risky leverage offerings make it a perilous choice for anyone considering online trading.
To safeguard your financial well-being, it is crucial to choose a broker with a proven track record of regulatory compliance and transparency. Dealing with unregulated entities like Zigber puts your investments at significant risk, and it is always advisable to exercise due diligence when selecting a brokerage for your trading activities.
If you’ve been ensnared by a Zigber scam or any other deceitful fraud, we strongly encourage you to report the perpetrators. By completing our online complaint form, you can schedule a free consultation with our specialists to explore the necessary steps for the fund recovery process.
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