Our Review of Zoomtrader
Zoomtrader is an online broker that aims to make it easy for traders of all levels of experience to trade on indices, stocks and currencies.
Account Types + Opening
There is one type of account on offer with Zoomtrader, and provided you are over 18 you can apply to open an account with them just by filling in the simple online form on the homepage of their website.
Promotions, Sign Up + Deposit Bonuses
Zoomtrader offers various types of bonus, and promotions can appear on a time limited basis throughout the year. The standard signup bonus for a Zoomtrader account is around 50%, and it is capped at a maximum of $10, 000.
Commissions and Fees
Fees are associated with making withdrawals; there is a flat fee of $25 for making a withdrawal via wire transfer, for example. With the commissions that Zoomtrader takes (which will vary depending on the type of trade that you are making), traders will be able to take home up to 83% of their total revenue.
Trading Platform Review & Mobile Apps
The Zoomtrader trading platform integrates trading software with real time support (both via the website's online chat function and over the phone). There is no Zoomtrader mobile app available to date.
Deposits & Withdrawal Methods + Ease
There are three ways to make deposits and withdrawals with Zoomtrader: by bank transfer, by Visa or Mastercard and by a Moneybookers account. There is a minimum deposit amount of $250 in effect with this broker. One thing that makes Zoomtrader stand out from other trading platforms, however is not just that there is a minimum withdrawal limit (200 of whichever currency you are using) but also that there is a maximum amount that you can withdraw per week (i.e. 5000 of whichever currency you are using). Though withdrawals and deposits are relatively easy to perform with Zoomtrader, then, some traders may feel restricted by this cap. The cap is in keeping with Zoomtrader's stated purpose: to let people trade as a hobby, or for entertainment purposes rather than as a professional focus.
Regulators & Safety: Are they a reliable, legitimate broker or a scam?
Zoomtrader has acquired a license with CySEC, and so they are fully regulated. All indications suggest that this is a legitimate broker.
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