In recent years, the rise of online trading platforms has brought with it a host of challenges for regulators and investors alike. Unfortunately, this has also led to a proliferation of fraudulent and unregulated brokers, who prey on unsuspecting traders in the hopes of making a quick profit. One such broker that has come under scrutiny in recent months is Anzo Capital, an offshore broker that is currently operating illegally in Europe.
AnzoFX, also known as Anzo Capital, is a broker based in an offshore location and regulated by the International Financial Services Commission (IFSC) in Belize. It provides trading services in Forex, precious metals, and CFDs with leverage of up to 1:1000 to clients globally (except for Japan and the U.S.), including in Europe. AnzoFX is a subsidiary of Australian company Focus Markets Pty Ltd, which is under ASIC regulation. The broker is professionally managed and adheres to proper KYC procedures. However, its offerings are illegal in Europe and breach ESMA regulatory guidelines. Please be alert from Anzo Capital!
Key data of Anzo Capital
- The trading names of this company include Anzo Capital, Anzo Capital Group, AnzoFX, and Focus Markets.
- The company’s domains include https://anzofx.com, https://anzocapital.com, www.focusmarkets.com, and www.placeatrade.com.
- The legal entities associated with this company include Focus Markets Pty Ltd, Focus Markets LLC, Anzo Capital Limited (Belize), and Anzo Capital (SVG) LLC (SVG).
- The regulators overseeing this company include ASIC for Focus Markets Pty Ltd and IFSC for Anzo Capital Limited.
What issues were found?
Issue reported by traders is the high-pressure tactics used by Anzo Capital’s sales agents. These agents are known to aggressively market the company’s services to potential clients, often promising high returns and risk-free trading opportunities. Once the trader has signed up, however, they are often left to fend for themselves, with little support or guidance from the broker.
Perhaps most troubling of all, Anzo Capital has been known to engage in deceptive practices in order to lure in unsuspecting traders. For example, the broker has been known to manipulate its trading software so that it appears as if the trader’s money is being invested, when in fact no trades are being executed at all. This can lead traders to believe that they are making profitable trades, when in fact they are simply losing money.
Furthermore, Anzo Capital has been known to employ unscrupulous tactics when it comes to withdrawing funds. Traders have reported hidden fees and charges that are not disclosed upfront, as well as difficulties in withdrawing even small amounts of money. In some cases, traders have reported that their withdrawal requests have been declined without explanation, leaving them with no recourse.
To make matters worse, Anzo Capital is known to target European consumers specifically, despite the fact that its offerings are illegal in Europe. This has led to a number of complaints from European traders who have been misled by the broker’s false advertising and deceptive practices. As a result, European regulators have issued warnings against the company, advising investors to avoid trading with Anzo Capital at all costs.
What can traders do to protect themselves from brokers like Anzo Capital?
The first step is to do their research and only trade with reputable brokers that are regulated by trustworthy authorities. In Europe, this means looking for brokers that are compliant with ESMA regulations and have a good track record of customer service and support.
Additionally, traders should be wary of any broker that offers high leverage ratios or promises quick returns on investment. While it may be tempting to take on large positions in the hopes of making a quick profit, the reality is that trading is inherently risky and should be approached with caution.
Finally, traders should be vigilant about protecting their personal and financial information, especially when trading online. This means using strong passwords and two-factor authentication, as well as being cautious about sharing personal information with third parties.
In conclusion, Anzo Capital is an offshore broker that is operating illegally in Europe and has been known to engage in deceptive and fraudulent practices.
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