ANSWER No, ZaxMarkets is not safe.ZaxMarkets claims to be operated by Zax Markets LLC, a company supposedly registered with the Financial Services Authority of St. Vincent and the Grenadines (SVG FSA) under Reg. number 20698 IBC 2021. However, a quick check on the SVG FSA website reveals that there is no such company or registration number in their records. This means it uses a fake registration number to pretend to be regulated by the offshore watchdog.Therefore, BrokersView concluded that ZaxMarkets is a fraudulent platform. Entrusting it with your funds and personal information could be devastating, as there are no rules in place to prevent fraud and identity theft. If ZaxMarkets goes out of business or absconds, clients are unable to recover their funds or get compensation. ZaxMarkets is still in business and we strongly suggest investors stay away from it and instead choose a fully regulated one.
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