Zentrader Review
Overview
Zentrader (a.k.a. Zen Trader) is a new online broker and trading platform launched in 2019. The company is backed by a number of well experienced industry players, some with backgrounds… more
Read Full ReviewDetails
| Broker | Zentrader |
|---|---|
| Website URL | https://zentrader.com/en/ |
| Founded | 2019 |
| Headquarters | Saint Vincent and The Grenadines |
| Support Types | Help Centre, Email, Live Chat, Telephone |
| Languages | English, Japanese, Indonesian |
| Trading Platform | Zentrader Platform |
| Minimum 1st Deposit | $50 |
| Minimum Account Size | $50 |
| Minimum Trade Amount | $5 |
| Maximum Trade Amount | $1000 |
| Bonus | $50 Cashback BONUS |
| Payout | Up to 195% |
| Free Demo Account | Open Demo |
| Deposit Methods | Visa, Mastercard, JCB, Neteller, Local Bank Transfer |
| Withdrawal Methods | Visa, Mastercard, JCB, Neteller, Local Bank Transfer |
| Number of Assets | 100+ |
| Expiry Times | 30 sec, 1 min, 3 min, 5 min, 15 min, 30 min, 1 hour, 1 day |
| Types of Assets | Forex, Currencies, Commodities, Stock Indices, Single Stocks |
| Option Types | Classic, On-Demand |
| Trading Currency | USD, EUR, GBP, JPY |
| Account Currency | USD, EUR, GBP, JPY |
| US Traders Allowed |  |
| Overall Score | 91/100 |
Pros
- High payouts of up-to 195%
- Terrific and fast support
- Intuitive and easy to use platform
- Wide variety of assets
Cons
- Some traders will find functionality limiting
- Limited charting features
- Can not accept traders from all countries
Full Review
Zentrader (a.k.a. Zen Trader) is a new online broker and trading platform launched in 2019. The company is backed by a number of well experienced industry players, some with backgrounds in large retail brokerage houses. Although just launched, we consider the Zentrader platform a serious new entrant in the market.
The company’s philosophy from it’s website is to focus on the things that are most important to traders. Whilst this means much has been left out, Zentrader has built an enjoyable trading experience with just the right amount of functionality.
Here’s our review from our exclusive sneak peek.
Website and Trading Platform – 18/20
The Zen Trader website is straightforward and simple to navigate. It contains basic information on the platform, deposit and withdrawal methods, terms and conditions and support. There’s limited detailed information on how to trade or how to use the use the platform e.g. tutorial videos or educational courses. Zentrader gears everything to having the visitor try their Demo Platform or browse the self-service Help Centre.
While we agree the platform is intuitive enough to get the hang of and fine for experienced traders, new traders would benefit from more detailed instructions and a video walk-through.
As with the website, a guiding principal of the Zen Trader Platform design is simplicity. This is on contrast to many brokers these days who seem intent or packing in as much clutter, buttons and features as possible into their platforms.
On first glances we thought, maybe it was too simple? Not enough features? But after spending some time trading, we realised that was not the case. The platform was intuitive, assets and trading time-frames also were easy to navigate.
The trade execution was fast and we noticed limited delay after placing the trade.
Assets, Payouts and Expiry Times – 20/20
Zentrader offers a wide variety of assets to trade on the platform: forex pairs, commodities (gold, silver, oil), stock indices and single stocks.
Time frames start from 30 seconds up until end of day. The shorter term options are called “On Demand” options, where the time frame begins once the trade is executed. The longer term options, your “Classic” high/low options, run on a fixed schedule with a no-trading window in the last couple minutes before the option closes.
We didn’t see any cryptocurrencies available, but were informed by the team on the live chat that they will be added to the platform shortly.
Deposit, Payment Methods and Bonus – 19/20
Zentrader appears dedicated to making depositing and withdrawing as easy and inexpensive as possible. They are investing heavily in offering local payment methods in many countries around the world. To date, local bank transfers (deposit and withdrawal) are available in Indonesia, UK, Europe and Japan.
Deposit via Credit Card, Neteller, Skrill and major e-wallets is available depending on the traders’ region.
Zentrader does not charge any fees for deposit and withdrawal.
Trust and Regulation – 14/20
Zentrader has been built and is run by serious and professional operators. They have clear policies and procedures which govern how services are provided, your rights as a client and how disputes are escalated and resolved. From the product development, it is clear their intention is to build the company for the long term.
Whilst we have seen many (mainly forex) brokers shift to Saint Vincent and The Grenadines in recent years, it is not a well regulated jurisdiction like Australia or the UK. We note that Zentrader has a strict no conflict of interest policy, in that staff or the company will not advise clients – they are only providing the trading platform technology and services.
Customer Service – 20/20
Customer support is an area where Zentrader really excels. Support is available around the clock Monday – Friday and 9am – 5pm on Saturday and Sunday (GMT +8). Zentrader can be contacted by email, phone and live chat and they offer support in English, Japanese and Indonesian.
Zentrader also has a comprehensive self-service Help Centre.
Summary
Zen Trader is an exciting new entrant to the brokerage and trading space. We were impressed with the platform, website and service while still noting some parts are still under development and refinement.
Update 16 February: check out our full Zentrader youtube video review below.
Update 1 May 2019: Bonus amounts will be received in the base currency of your account e.g. European traders will receive 50 EUR and UK traders will receive 50 GBP.
Update 9 May 2019: Only Visa and Mastercard deposit is currently available for EUR and GBP accounts. Free withdrawals are still available by local bank transfer. The Zentrader team informs us that more payment methods are currently being added.
how long does it take to approve accounts? I’ve been waiting 3 days now.
In our experience accounts are usually approved within a couple hours. Make sure you have submitted a clear, high resolution photo of your government issued ID and proof of address document issued within the last 6 months.
You can also submit to Zentrader via their live chat if you are having problems uploading.
I just registered and my account was approved but cannot see the £50 cashback in my balance.
Jonas, the cashback amount is automatically credited when you make your first deposit.
Bank withdrawals are same day in the UK. But no GBP bank deposits yet, only USD and JPY.
Zentrader doesn’t accept US residents 🙁
Does Zen Trader accept traders in Germany?
Maryanne, apologies for the late reply. Yes, should be fine.
Zentrader are legit, same day deposit and withdrawal straight to my bank account. And no charges.
Thanks for the double bonus offer 🙏🏻
I signed up for Zentrader, how long until account active? Do I get bigger bonus for bigger deposit?
Hi Sugiya,
Provided you have submitted the correct ID documents, Zentrader usually approves accounts within a couple hours. You can try reaching them on the live chat.
Regarding the bonus, the amount is fixed for all new accounts as it is a genuine cashback.
It’s hard to find a good binary options broker these days! Zentrader, as mentioned is simple but has all the features the casual trader needs.
I can deposit and withdraw within hours and with no fees at all.