Are client funds safe with ZXCM?

https://www.zxcm.com/

Dear Investor,

ZXCM claims to be regulated by the Financial Services Authority (FSA) of Seychelles. Our investigation confirms that the company is indeed listed with the Seychelles FSA, and its official website matches the information on file. However, it is important to note that the Seychelles FSA is an offshore regulatory authority known for relatively lenient oversight and limited investor protection mechanisms. As such, investor funds held with entities licensed by the Seychelles FSA may not be fully safeguarded.

Additionally, ZXCM states it is registered in Saint Lucia. While the company’s name does appear in the registry of the Saint Lucia International Financial Centre (IFC), this registration confers only International Business Company (IBC) status. IBC status allows for company formation but does not constitute a financial services license. The IFC does not regulate or authorize forex trading activities.

Given these factors, we advise investors to conduct thorough due diligence and exercise caution when considering engagement with this broker.