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AGX ZEN Review | A Global Presence or Scam?

by Kevin Berry
Rating: 
  1.3/5   Reviews: 9
AGX ZEN - logo

The brokerage company AGX ZEN, claiming to have a global presence, offers to open an account and start trading financial assets, promising competitive fees, top-notch security, market knowledge, and time-saving. According to the official website, the broker’s offices are located on several continents in various countries: South Africa, Panama, the United Kingdom, Cyprus, and Switzerland. However, for unknown reasons, the firm has not yet received regulation in any of these jurisdictions. This raises the main question: “Can the platform be trusted?”. In this review, we will try to identify signs of a scam and make a verdict regarding the safety of the company.

Highlights

🏛️ Country South Africa, Panama, United Kingdom, Cyprus, Switzerland
⚠️ Regulation
🖥️ Website https://www.agxtrd.com/
🎲 Demo Account No
⏳ Start Time 2023
💲 Minimum Deposit $240
⚖️ Minimum and Maximum Leverage 1:400
⚙️ Trading Platform WebTrader
📨 E-mail support@agxtrd.com
📞 Phone +27211093955, +27107468462, +5078365519, +447308309407, +41225083090, +35725262303

First Impression of Agxtrd.com

The pattern and similarity of the official website are immediately noticeable. The standard top menu has a familiar design and font. There is high confidence that AGX ZEN created their website using a ready-made template, as we have already encountered similar brokerage resources.

The top menu introduces us to the tradable assets, contacts, information about the broker, and legal documents, such as the user agreement and privacy policy. Navigation is simplified, so searching for information should not be difficult.

AGX ZEN - site

Considering the website’s sole use of the English language, the presence of the broker on different continents is highly questionable. Where are the translations into other languages? Besides, there are more significant shortcomings. AGX ZEN does not provide registration documents and hides much important information about itself: licenses, business model, and founding date. Judging by the design of the official website, the firm can be described as opaque and anonymous.

Partnership and Bonuses

No bonus promotions or affiliate programs are indicated on the site. Although we believe that the broker does offer bonuses, they do not disclose or provide conditions for them. Otherwise, their absence seems very strange, as such companies like to offer bonuses to traders, usually under the most unfavorable conditions for them. Moreover, it’s curious why there is no affiliate program, as it would be an excellent tool for AGX ZEN to attract new users. For partners, it would be a good additional income.

Account Opening on Agxtrd.com

AGX ZEN describes the start of trading in three steps:

  1. Register an account.
  2. Fund the deposit.
  3. Begin trading.

However, there are some problems with the first step. The fact is that there is no “Registration” button on the official website, only “Login”. So how can one register an account if AGX ZEN does not even provide this functionality? It’s amusing when a broker describes the process of creating a personal account as “easy and fast”.

Even a demo account is not available to try, as this option is not provided here. How to test the functionality of the terminal or at least look at the personal account interface?

Verification

The identity verification procedure is mandatory in any brokerage company, as it is a primary requirement of regulators. However, AGX ZEN does not give us information about KYC. There is no AML & KYC policy, and verification is not even mentioned in the user agreement. It’s unknown if there is a verification procedure at all. And if KYC is present, is it mandatory? In any case, the lack of information about KYC looks like a negative factor.

Pros
  • Not found.
Cons
  • The company does not give information about KYC.

Trading Software

Regarding the trading platform, AGX ZEN further reinforces its status as an anonymous and opaque broker. The terminal is hardly described, apart from the mention of a web version and smartphone support. However, we couldn’t find any links to download the platform for Android/iOS.

Terminal

Looking at the small screenshots of the platform graciously provided by AGX ZEN, one might think of a primitive WebTrader, supporting only basic functions like technical analysis, indicators, pending orders, and notifications. Additionally, it offers a few timeframes and chart types. However, overall, such a terminal is significantly behind popular software with limitless capabilities.

AGX ZEN’s platform does not allow traders to upload their own setting templates or custom indicators. Moreover, there is no auto-trading or copy-trading. Advanced tools like open interest, order book, market depth, and horizontal volumes remain a dream. In short, the broker offers trading on a low-functional and primitive terminal, which can’t even be installed on a computer. What serious and successful trading can be discussed here?

Features AGX ZEN Park Financial Consulting LTD TradeAi-Group
Mobile App
Own Development

How Can I Trade With AGX ZEN?

Traders have access to over 250 assets of several market classes: currency pairs, metals, indices, commodities, cryptocurrencies, and stocks. However, all assets are only available as CFDs. Next, it’s necessary to consider the tariff plans, as this determines the trading conditions for the client.

All Info About Accounts

AGX ZEN offers three types of accounts:

  1. Mini. Requires a balance amount of $2,500. The tariff includes lots from 0.01, protection against negative balance, variable spreads, live support 24/5, leverage up to 1:10, free daily analysis, instant execution, and assistance from a personal manager.
  2. Green. Different from “Mini” only in the minimum deposit requirement of $5,000.
  3. Premium. From $25,000. No differences.

Account types

Either the account types table provided is incomplete and contains errors, or the broker AGX ZEN contradicts itself. As per the description, the tariff plans do not differ from each other except for the minimum deposit requirement. Logically, more expensive tariffs should offer better conditions. However, the leverage is consistently 1:10, contradicting the 1:400 mentioned in the FAQ section, which seems more realistic. Additionally, AGX ZEN provides conflicting information about the minimum amount required to start trading, with three different figures: $2,500 in tariff descriptions, $240 in the FAQ, and $100 in the step-by-step guide. Where lies the truth?

Unsurprisingly, commissions and spreads remain undisclosed. Indeed, why should traders know the fees they will be trading with? Moreover, AGX ZEN lacks Islamic and ECN accounts. This implies that the firm operates on a dealing desk business model, which entails a conflict of interest, making clients’ success undesirable for the broker.

Pros
  • None.
Cons
  • Different places list different conditions.
  • Key parameters are undisclosed, such as commissions and spreads.
  • There are no demo, Islamic, and ECN accounts.

Market Analysis and Education With Agxtrd.com

According to the tariff plans, all clients are provided with daily market analytics. Additionally, a forex screener is available on the website’s main page. However, there are no educational materials, including trading and investment courses, no economic calendar, and no news feed.

Deposit, Withdrawal, and Fees

AGX ZEN promises no commission charges for depositing and withdrawing funds, but the actuality of this claim is unknown. The list of supported payment methods is extensive: Visa/Mastercard, PayPal, Bitcoin, ApplePay, GPay, Tether, bank wire transfers, and other less popular payment systems. The firm does not disclose the processing time for withdrawal requests.

Features AGX ZEN Nour Trade NewTradeVision
Debit/Credit Cards ✔️ ✔️ ✔️
Electronic Payments ✔️ ✔️
Crypto Transfers ✔️ ✔️
Deposit Fee
Withdrawal Fee

How Can I Contact It?

Contact with AGX ZEN managers can be made through the provided phone numbers or email. Additionally, the company offers communication via WhatsApp messenger, but this requires initial contact with an employee for details.

Fake email

Are the contact details on the website authentic? An intriguing question, as the email address turned out to be fake. It’s also unclear whether all the phone numbers are genuine. The purpose of the website’s online chat is questionable too, as it creates a callback request where a response is promised via email. And, of course, the absence of social media accounts is a significant drawback for AGX ZEN.

Pros
  • None.
Cons
  • The email turned out to be fake.
  • No social media accounts.

Is AGX ZEN Dangerous

The official website of AGX ZEN is not only generic and uninspiring, but also incomplete. Trading conditions are entirely unclear due to conflicting information, and the provided contact details turned out to be fake. So far, nothing positive can be said about AGX ZEN. Instead, these are red flags signaling potential fraud. We are left to find out when the platform was launched and whether the broker has any licenses at all.

How Long Does The Broker Work?

The duration of the company’s operation remains a mystery, as the firm conceals this fact. However, the scant online reviews do not suggest a long period of operation, but rather a very short one. This is corroborated by the domain registration of the official website on September 18, 2023, indicating that AGX ZEN emerged only in the fall of 2023.

Domain

How Is AGX ZEN Regulated?

The broker lists several representations in various countries, from Europe to Africa. However, the user agreement mentions Polish legislation, hinting that the firm operates according to Polish laws. Yet, AGX ZEN was not found in the registry of legal entities in Poland.

AGX ZEN - Poland

Additionally, we checked the registries in the United Kingdom, as the company claims to have an office there. AGX ZEN was not found in either the FCA or the Companies House. The search yielded nothing. There’s no point in checking other registries because if such an organization doesn’t exist in the UK, despite the listed address, it is unlikely to be found in other countries either. Therefore, all office addresses proved to be fictitious, and the broker’s activities are not regulated by any authorities. These are significant red flags indicating an illegal broker.

AGX ZEN - Companies House

Features AGX ZEN Nexon Groups Global ICM
European Zone
Asian Zone
American Zone
African Zone
Offshore

Frequently Asked Questions (FAQ)

How to Trade With AGX ZEN?

According to the logic outlined by the broker, one must first register an account and then fund it. However, despite this instruction, there is no "registration" button on the website, making it unclear how to start creating a personal account.

Is AGX ZEN Legit?

Our investigation revealed that the firm AGX ZEN does not exist in Poland, the United Kingdom, or any other country. Moreover, it lacks a license, indicating illegal operations.

How Risky Is It?

AGX ZEN poses a 100% risk of being a scam due to its lack of license and fictitious addresses, suggesting entirely illegal activities.
Kevin Berry
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Expert Opinion

A key question arises about how this fraudulent pseudo-company manages to scam people out of their money, given the apparent inability to create an account on their site. AGX ZEN’s scam nature is evident: fake activities, fictitious offices, lack of a license, and a generic website reused from other fraudulent sites. The actual method of their scam remains unclear, but it’s advisable to avoid any engagement with such dubious brokers.

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AGX ZEN rating

The level of trust
Quick withdrawal of funds
Efficiency of technical support
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The level of trust
Quick withdrawal of funds
Efficiency of technical support

9 reviews about AGX ZEN

Shrek November 19, 2023 - 23:49
I didn't take any chances
The level of trust
Quick withdrawal of funds
Efficiency of technical support

Agx Zen appears to be an unattractive brokerage option. Despite a stated minimum deposit of $240, the first tariff plan requires an investment of $2,500. The leverage ratio is unclear, being either 1:10 or 1:400. Furthermore, there is no information about commission rates and spreads. Considering these factors, trading with Agx Zen is deemed highly risky, prompting a decision to avoid trading on this platform.

Reply
Nick Derest December 7, 2023 - 13:22
You can not cooperate with such companies
The level of trust
Quick withdrawal of funds
Efficiency of technical support

If you’re considering trading with Agx Zen, it’s advisable to reconsider, given the serious questions about the company’s legality. An examination of all the provided addresses revealed no physical presence of the firm, which strongly suggests that these addresses are fictitious. Additionally, there’s no mention of regulatory oversight, a critical feature of any safe brokerage service.
Moreover, the scarcity of online reviews implies that the firm is neither well-known nor established in the trading community. As an experienced trader, it’s generally recommended to engage only with legally compliant brokers. Agx Zen does not meet the criteria for a secure trading platform.

Reply
Susan January 9, 2024 - 13:00
Agx Zen

I have been scamed last week

Of R400. 000 four hundred
thousand rand ZAR by telling
it was a mirror withdrawel
By AGX ZEN..

Reply
Kobus February 7, 2024 - 18:30

I have been scammed out of ZAR 120,00 in the same “mirror” transaction way.
Thes guys must not be allowed to carry on with this.We need help to take this further.I have names and numbers and email addresses.Please contact me ,I don`t know where to start.

Reply
Elize January 20, 2024 - 21:26
The level of trust
Quick withdrawal of funds
Efficiency of technical support

AGN ZEN scam me…… took all my money.
They do not answer there phones. I send a lot of e mails….. no reply

Reply
A Davies January 27, 2024 - 14:19

AGXZEN stole all my money ,25,000 USD

Reply
Simona January 31, 2024 - 02:03

Hello, we are also in the same situation with these scammers. When you started this “investing” have you also received some money? And how did you lost 25,000 USD? Did you have to “invest” it and then lost it or did they just took it?

Reply
Kobus February 7, 2024 - 18:24
I have been scammed by AGX ZEN - Help needed

I have opened a small trading account with this company. ($240).They started trading with the amount and made small gains.A gentleman phoned me on a daily basis trying to get me to invest more funds as he`ll make me and them a lot more money.I refused and eventually told him not to trade any further.A few days later I noticed that there was no activity on the account and applied to have my money withdrawn.A lady by the name of Elizabeth Kritzinger contacted me and wanted to know why I wanted to withdraw.She talks with an overseas accent and said she was born in this country,but grew up in Italy. She said its ok she would “work” my account.After a few days it showed the account balance had increased quite nicely to appr. $3700.That is also where the problems started.She said that a lot of these were crypto currency and they had to convert it to SA rands to pay me.To date I have still not received a cent and they make promises every day,but nothing happens.I have whattsapp phone numbers,names and email addresses which she actually replied on.I also have an Absa account number which they use for depositing funds.I feel we cannot just leave everything there – this must be followed up on,but I don`t know if the police is the right way to go.The results could be poor.I can be contacted on the above email address and is willing to give evidence.

Reply
Abrie February 21, 2024 - 07:10
Help needed

I cannot get hold of agx zen since last year They owe me from what i last saw 1295 us dollars.

Reply

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