About ZorroTrade
Company Overview
ZorroTrade is a forex brokerage registered in Bermuda, with an official operating domain of zorrotrade.com. The company was founded on July 8, 2019, and lists its registered address at Nineteen, Second Floor #19 Queen Street, Hamilton HM 11, Bermuda.
As of our review, ZorroTrade is not regulated by any known financial authority. This lack of regulatory oversight is a significant factor for traders to consider, as it means the broker is not subject to the standard investor protections and compliance requirements that regulated brokers must adhere to.
Account Types
ZorroTrade offers two account types: the Sabre Account and the Rapier Account. Both accounts require a minimum deposit of 100 EUR or USD and provide a maximum leverage of 1:1000.
The similarity in terms between the two accounts suggests that they may differ in features not captured in our records, such as spreads, commissions, or trading conditions. However, based on available information, both accounts appear to offer identical deposit and leverage parameters.
Trading Instruments and Platforms
Our records do not specify the trading instruments available at ZorroTrade. Typically, forex brokers offer currency pairs, commodities, indices, and possibly cryptocurrencies, but we cannot confirm this for ZorroTrade without independent verification.
Similarly, the trading platform(s) offered by ZorroTrade are not listed in our known facts. Common platforms include MetaTrader 4, MetaTrader 5, or proprietary web-based platforms, but traders should verify directly with the broker.
Registration and Jurisdiction
ZorroTrade is registered in Bermuda, a jurisdiction that does not impose a mandatory regulatory framework for forex brokers. Companies operating from Bermuda are not typically overseen by a financial services regulator, which may expose traders to higher risks.
The registered address in Hamilton, Bermuda, is a standard business location. Traders should be aware that operating from such a jurisdiction often means limited legal recourse in the event of disputes.
Risk Considerations
The high leverage of 1:1000 offered by ZorroTrade is a double-edged sword. While it can amplify profits, it also significantly increases the risk of substantial losses, especially for inexperienced traders.
Furthermore, the absence of regulatory oversight means there is no external body to ensure the broker's compliance with fair trading practices or segregation of client funds. Traders are advised to exercise extreme caution and consider these risks before depositing funds.
Overview compiled by FXCanary from regulatory records and public data. full ZorroTrade review