Investors Alert www.zineera.com – Regarding This entity is likely to be offering financial services to Australian consumers. It does not hold an Australian financial services licence or Australian credit licence from ASIC, and is not authorised by a licensee.
Online trading can be a lucrative and exciting activity, but it also comes with risks. One of the biggest risks is falling victim to a scam broker that will take your money and disappear. Unfortunately, many such brokers are operating on the internet, and one of them is Zineera. Zineera is a website that claims to offer online trading services in various markets, such as forex, crypto, and CFDs. However, Zineera is not a legitimate broker, but a scam that has been blacklisted by the ASIC, the Australian financial regulator. In this blog post, we will reveal the red flags of Zineera and explain why you should avoid this broker at all costs.
Products and Services:
Zineera claims to offer a variety of products and services to its clients, such as:
– A user-friendly web-based trading platform with advanced tools and features
– A wide range of trading instruments, including forex pairs, cryptocurrencies, stocks, indices, commodities, and ETFs
– Competitive spreads and commissions
– Fast execution and low latency
– Multiple account types with different benefits and bonuses
– Professional customer support 24/7 via phone, email, and live chat
– Educational resources and market analysis
– Secure payment methods and fast withdrawals
However, these claims are nothing but lies designed to lure unsuspecting traders into depositing their money with Zineera. In reality, Zineera does not provide any of these services but instead operates as a Ponzi scheme that pays out some profits to early investors using the money from new investors. Eventually, the scheme collapses and the scammers run away with the money.
Financial institution & regulatory license:
One of the most important things to check before choosing an online broker is whether it is regulated by a reputable financial authority. Regulation ensures that the broker follows certain rules and standards to protect its clients’ funds and interests. Regulated brokers also have to comply with anti-money laundering and KYC policies, as well as provide compensation schemes in case of insolvency.
Zineera claims to be regulated by the ASIC, which is the Australian financial watchdog. However, this is a blatant lie. The ASIC has issued a warning against Zineera on its website, stating that it is an unlicensed entity that is not authorized to provide financial services in Australia. The ASIC also advises anyone who has dealt with Zineera to stop doing so and report it to the authorities.
Trader’s Reviews and Customer Service:
Another way to verify the credibility of an online broker is to read the reviews and feedback from other traders who have used its services. This can give you an insight into the broker’s reputation, performance, reliability, and customer service.
Zineera has very few reviews online, which is a bad sign for any online business. The few available reviews are mostly negative, with traders complaining about various issues, such as:
– Difficulty in withdrawing their money
– Hidden fees and charges
– Manipulation of prices and trades
– Poor customer service and communication
– Harassment and pressure from account managers
– False promises and guarantees
These reviews confirm that Zineera is a scam broker that does not care about its clients’ satisfaction or well-being.
How do online trading scams operate:
Online trading scams have become more sophisticated and widespread in recent years. They use various techniques to deceive traders into investing their money with them. Some of the common methods are:
– Creating fake websites that look professional and trustworthy
– Offering unrealistic returns and bonuses that are too good to be true
– Using fake testimonials and endorsements from celebrities or experts
– Using social media and online forums to promote their services and recruit new victims
– Using cold calls or emails to solicit potential clients
– Using high-pressure tactics or emotional manipulation to persuade clients to deposit more money or prevent them from withdrawing
– Using software or algorithms to manipulate the trading platform or the market prices
How to Safeguard Against Fraudulent Brokers:
To avoid falling prey to online trading scams, you need to be vigilant and cautious when choosing an online broker. Here are some tips on how to safeguard yourself against fraudulent brokers:
– Verify their regulatory status with the relevant financial authority. Avoid brokers that are not regulated or claim to be regulated by obscure or offshore jurisdictions.
– Read the reviews and feedback from other traders who have used their services. Look for objective and reliable sources, such as reputable websites, blogs, forums, etc.
– Test their customer service and communication. See how responsive, helpful, and professional they are. Avoid brokers that are rude, unresponsive, or evasive.
– Start with a small amount and use a demo account if possible. See how the trading platform works and how the broker performs. Avoid brokers that have technical issues, delays, or errors.
– Be wary of any offers or incentives that seem too good to be true. Avoid brokers that promise guaranteed profits, high leverage, low spreads, or no-risk trading.
– Never share your personal or financial information with anyone you don’t trust. Avoid brokers that ask for unnecessary or excessive documents or information.
– Never let anyone trade on your behalf or give them access to your account. Avoid brokers that pressure you to use their account managers, signals, robots, or software.
– Always withdraw your money as soon as possible. Avoid brokers that impose unreasonable withdrawal conditions, fees, or delays.
Zineera is a scam broker that has been blacklisted by the ASIC. It is not regulated by any financial authority and does not provide any of the services it claims to offer. It uses various scam tactics to lure traders into depositing their money and then refuses to let them withdraw it. It also manipulates the trading platform and the market prices to make traders lose money. Zineera is a broker that you should avoid at all costs if you value your money and your safety.