Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
General Information & Regulation
ZumaMarkets, a trading name of Red Pine Capital (Pty) Limited., presents itself as a multi-asset broker registered in Mexico that claims to provide its clients with various tradable financial instruments with flexible leverage up to 1:500 and floating spreads from 1 pip on the MT5 trading platform. Here is the home page of this brokers official site:
As for regulation, it has been verified that ZumaMarkets currently has no valid regulation. That is why its regulatory status on WikiFX is listed as “No License” and receives a relatively low score of 1.30/10. Please be aware of the risk.
Market Instruments
ZumaMarkets advertises that it offers access to a wide range of trading instruments in financial markets, including forex currencies, commodities, stock indices and equity shares.
Account Types
ZumaMarkets claims to offer free demo accounts and real accounts. However, the minimum initial deposit requirement is not disclosed directly.
Leverage
The specified leverage for different account types at ZumaMarkets varies between 1:1 and 1:500. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.
Spreads
ZumaMarkets claims to offer ECN spreads from 1 pip, while the industry average is 1.5 pips.
Trading Platform Available
The platform available for trading at ZumaMarkets is one of the most notable and preferred trading platforms the market offers - MT5 for Desktop, MT5 for Android, MT5 for iPhone and MT5 for iPad. This trading terminal is highly praised by traders and brokers alike due to its ease of use and great functionality. The MT5 offers top-notch charting and flexible customization options. It is especially popular for its automated trading bots, a.k.a. Expert Advisors.
Deposit & Withdrawal
ZumaMarkets says to accept deposits and withdrawals in BTC and Bank Transfers. Also, at the foot of its website, we found the logos of payment methods, consisting of credit/debit cards such as MasterCard and Visa, as well as e-payments like Skrill, PayRetailers and LetKnow.
Customer Support
ZumaMarkets customer support can be reached Mon-Fri 10.00 am - 6.00 p.m by telephone: Mexico: +525553509057, Colombia: +576015800496, email: support@zumamarkets.com, live chat or send messages online to get in touch. Company address: Floor 9, Atrium on 5th, 5th Street, Sandton, Gauteng, 2196, South Africa.
Pros & Cons
Frequently Asked Questions (FAQs)
