Overview of ZANK
ZANK is a broker situated in China which is an online trading platform offering a variety of financial instruments to traders. With VIP, pro and classic account types, traders can access currency trading through the Meta Trader 4 platform. The company can be contacted at support@zkmt4.com for any inquiries or assistance.
Is ZANK Legit？
ZANK is beyond the scope of its business. it is exceeds the business scope regulated by Australia ASIC(license number: 246943)Investment Advisory License Non-Forex License. Please be aware of the risk. It is advisable for traders to thoroughly research and consider the regulatory status of a broker before engaging in trading activities to ensure a safer and more secure trading experience.
Pros and Cons
ZANK offers multiple chocies for clients who want to enter the international markets. Additionally, the utilization of the popular Meta Trader 4 platform enhances accessibility and familiarity for traders. However, the lack of regulatory oversight raises concerns about transparency and investor protection. Moreover, the limited customer support options, primarily through email, may hinder efficient resolution of queries or issues.
Account Types
Classic: Tailored for the seasoned trader, the Classic account also boasts a maximum leverage of 1:500, consistent with its counterparts. Designed for high rollers, the account demands a minimum deposit of $10,000. The minimum spread starts at 1.4 pips. The position size remains as flexible as the others, with a 0.01 minimum, ensuring detailed control over trade sizes and risk exposure.
Pro: The Pro account is a step up for serious traders, offering a substantial maximum leverage of 1:500, identical to the VIP. However, it requires a more significant commitment in terms of capital, with a $50,000 minimum deposit. The trading cost is reasonably managed with a minimum spread of 0.8 pips, and it shares the VIP account's minimum position size of 0.01, striking a balance between potential and accessibility.
VIP: This account provides traders with impressive financial leverage, peaking at a maximum of 1:500. Those interested need to start with a substantial investment, with a mandatory minimum deposit of $100,000. It offers an advantageously low minimum spread of just 0 pips signaling cost-effective trade execution. Plus, the account allows for executing trades with a minimum position size of 0.01, accommodating precision and risk management.
Leverage
ZANK allows its clients to trade with a maximum leverage of 1:500. A leverage of 1:500 means that a trader can control a position size 500 times larger than the initial capital they have in their account. It is worth noting that while higher leverage can lead to greater potential returns, it also increases the risk associated with trading, as losses can accumulate quickly.
Trading Platforms
ZANK offers its clients access to the MT4 trading platform, which iswidely used in the forex and CFD markets. By providing the MT4 platform, ZANK enables its clients to trade various tradable instruments, including currencies, stocks, indices, and commodities, through a user-friendly interface. MT4 offers advanced charting tools, technical analysis indicators, and automated trading capabilities, making it a preferred choice for many traders, particularly those involved in the forex market.
Customer Support
ZANK provides customer support primarily through email at support@zkmt4.com.
Conclusion
In conclusion, Ranger Capital presents traders with a variety of trading instruments and account types, along with the widely used Meta Trader 4 platform, facilitating flexible and accessible trading opportunities. However, the absence of regulatory oversight poses potential risk may hinder efficient resolution of inquiries. Additionally, the lack of educational resources and unclear company policies may present challenges for traders seeking comprehensive guidance.
FAQs
Q: Where is ZANK registered？
A: ZANK is registered in China.
Q: What regulations does ZANK adhere to？
A: ZANK exceeds the business scope regulated by Australia ASIC(license number: 246943)Investment Advisory License Non-Forex License.
Q: What are the minimum deposit requirements for each account type？
A: The minimum deposit is 10,000 for the most basic account, the classic account.
Q: What is the maximum leverage offered by ZANK？
A: The maximum leverage for all account types is 1:500.
Q: What are the spreads for each account type？
A: VIP account: Minimum spread of 0.5, Pro account: Minimum spread of 0.8, Classic account: Minimum spread of 1.4.
Risk Warning
Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies. In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.
2023-02-23 11:34