Zero Markets review.

Overview

TrueBroker is a free broker safety checker, and this page is our review of Zero Markets, scored 7 out of 10 across regulation, fees, platform, support and reviews.

Zero Markets is not one company. It is a trading name used, according to the firm’s own regulatory disclaimer, in connection with services provided by separate legal entities operating in different jurisdictions… None of the entities listed below is authorised to provide financial services outside its permitted jurisdiction. We found entities trading under this name in Mauritius, Australia, New Zealand, Saint Vincent and the Grenadines and Hong Kong, each with its own registration and, in some cases, no financial licence at all.

Which entity holds a client’s account

Our evidence shows two different Australian licensing structures for the same brand. The firm’s Australia about page names Zero Markets Australia Pty Ltd as the issuer and licence holder, and we confirmed against the ASIC register that Australian Financial Services Licence 313016 is held by that company, ABN 94 125 113 117, since 12 October 2007. A separate fee page names a different holder: Zero Securities Pty Ltd, AFSL 244040, with ZERO Financial Pty Ltd acting as its Authorized Representative. We checked that licence number against the ASIC register too. AFSL 244040 is held by Nisential Capital Pty Ltd, ACN 056 617 862. The Australian Business Register shows that company traded as Zero Securities Pty Ltd from 1 February 2023 until it was renamed Nisential Capital Pty Ltd on 4 September 2026, three weeks before this review was written. The firm’s own fee page still names the old name against that licence number.

What the registers show for Zero Markets

The Financial Services Commission of Mauritius register confirmed Zero Financial Ltd, showing it licensed on 5 May 2021 as an Investment Dealer under the SEC 2.1B Full Service Dealer category, excluding underwriting. That register publishes the licence type and date but not the licence number itself, so the number quoted on the firm’s own fee page, GB21026308, is not something the register let us confirm.

The New Zealand Financial Service Providers Register lists Zero Markets (NZ) Limited as FSP569807, registered 27 August 2018 and trading as Nise Invest and Zero Markets, with “client money or property service” as its only registered service. That is a registration, not a licensed service, and the register recorded no derivatives issuer licence for it. Registration on the FSPR is not the same as being regulated by the FMA, even though the firm’s own page for this entity describes it as regulated and licensed.

The Saint Vincent and the Grenadines Saint Vincent and the Grenadines corporate entity search confirmed Zero Markets LLC as registration number 503, an LLC incorporated 22 July 2020, status active, with Euro Caribbean Trustees Ltd as registered agent. That FSA registers companies and does not license forex or CFD brokers, so this confirms the company exists, not that it holds a financial licence. We have not yet checked the Hong Kong Companies Registry for Zero Financial Limited, the entity named on the fee page as the firm’s Hong Kong principal place of business, since that register only answers a person browsing it directly; that is a gap in our checking, not a finding about the firm. The same applies to the New Zealand Companies Office number quoted for Zero Markets (NZ) Limited: we hold no register entry for that authority, so it has not been checked.

What Zero Markets charges

The fee page advertises “Fee Free Funding for MT4/MT5 only” and lists a Standard account with spreads from 1.0 pip and no commission per lot, alongside a Super ZERO account with spreads from 0.0 pip and a commission of $2.5 per lot per side. That same page and the Vietnamese language root page disagree on the minimum deposit for those two accounts: the AE fee and root pages state “$100 USD or equivalent,” while the VN page states “10,00 USD” for the same account names, and separately tells readers they can fund an account “chỉ từ 5 USD,” from as little as $5. A share or ETF CFD commission is described only as variable, with “minimum commission applies for Share and ETF CFDs across all types of accounts,” without a figure given.

Who Zero Markets says it will not serve

The AE fee page excludes residents of Canada, the United States, all European Union member states, Malaysia, Indonesia and Thailand on regulatory grounds, and separately excludes a list of FATF high risk and sanctioned jurisdictions including Afghanistan, Cuba, Iran, Russia, Syria and Yemen. A longer exclusion list on the same page adds dozens more countries, including Spain, Italy, Sweden, South Africa and Nigeria, and a further clause states “ZeroMarkets does not accept applications from U.S, Japan or New Zealand residents.” We noted that this same page is served under the South Africa and Japan geo exits in our evidence, despite its own text excluding residents of both countries, which points to a mismatch between how the site is served and what its own eligibility text says.

Terms that bind a client

The AU entity’s risk warning states “If you are a wholesale client or sophisticated investor, you could lose substantially more than your initial investment,” and separately that “When acquiring our derivative products, you have no entitlement, right or obligation to the underlying financial assets.” Its website disclaimer states that “the information on this site and all matters relating to it are governed by and construed in according with the laws of New South Wales and the Commonwealth of Australia,” and that “any translations we provide are for convenience of clients with non English speaking backgrounds only; the English version prevails in all cases,” which matters given that the Vietnamese language pages in our evidence quote different deposit figures than the English ones. We were unable to retrieve the firm’s dedicated Terms and Conditions, Client Agreement or Risk Disclosure documents; every probed URL for them returned zero bytes, so these clauses come from footer and disclaimer text rather than the full client agreement.

Overview Table

Facts List

• Zero Financial Ltd is confirmed on the Financial Services Commission of Mauritius register as an Investment Dealer, licensed 5 May 2021, though the register does not publish the licence number the firm quotes.
• ASIC confirmed AFS licence 313016 as held by Zero Markets Australia Pty Ltd, ABN 94 125 113 117, since 12 October 2007.
• ASIC confirmed AFS licence 244040 as held by Nisential Capital Pty Ltd, the company the firm’s fee page still names under its former name, Zero Securities Pty Ltd, dropped on 4 September 2026.
• Zero Markets (NZ) Limited is registered, not licensed, on the New Zealand Financial Service Providers Register as FSP569807.
• Zero Markets LLC is confirmed as an active company registration with the St Vincent and the Grenadines FSA, which does not license forex or CFD brokers.
• The Hong Kong Companies Registry entry for Zero Financial Limited and the New Zealand Companies Office entry for Zero Markets (NZ) Limited have not been checked.
• The Standard account is quoted with spreads from 1.0 pip and no per lot commission; the Super ZERO account is quoted with spreads from 0.0 pip and a $2.5 per lot per side commission.
• Funding is advertised as fee free for MT4 and MT5, subject to terms and conditions.
• The minimum deposit figure differs by a factor of ten between the firm’s English and Vietnamese language pages for the same account names.
• The firm’s dedicated Terms and Conditions, Client Agreement and Risk Disclosure documents could not be retrieved; every probed URL returned zero bytes.

Key Takeaways

Zero Markets is not one regulated firm but a brand stretched across several legal entities, and the register checks and the firm’s own pages do not agree on which entity holds which licence. That mismatch, more than any single number, is what pulls the regulation score down to 5.8 while fees and platform choice score well.

What the registers actually confirmed

• The FSC Mauritius Online Public Register confirms Zero Financial Ltd holds SEC-2.1B Investment Dealer (Full Service Dealer excluding Underwriting), licensed 05/05/2021, but the register publishes the licence type and date, not the licence number, so the number GB21026308 quoted on the firm’s own page is not something the register itself confirms.
• The ASIC register confirms AFS licence 313016 is held by Zero Markets Australia Pty Ltd (ABN 94 125 113 117), matching what the firm’s the firm’s Australian about page states.
• A second ASIC entry confirms AFS licence 244040, but not for the entity the firm’s own the firm’s UAE fees page names. That page says the licence sits with “Zero Securities Pty Ltd,” with Zero Financial Pty Ltd trading as its Authorized Representative. The Australian Business Register shows the company behind ACN 056 617 862 was named Zero Securities Pty Ltd only from 1 Feb 2023, and was renamed Nisential Capital Pty Ltd on 4 Sep 2026, so the firm’s page is naming this company under a name it no longer carries on the public record.
• The New Zealand Financial Service Providers Register shows Zero Markets (NZ) Limited as FSP569807, trading as Nise Invest and Zero Markets, registered 27-Aug-2018, with its registered service listed as “Client money or property service.” None of the services listed on that register is a licensed service, so the register does not record an FMA licence for this entity, even though the firm’s own page describes it as “regulated and licensed.”
• The St Vincent and the Grenadines FSA entity search confirms Zero Markets LLC as registration number 503, an active LLC incorporated 2020-07-22 with EURO-CARIBBEAN TRUSTEES LTD as registered agent. The SVG FSA registers companies; it does not license forex or CFD brokers, so this is a company confirmation, not a trading licence.
• The Hong Kong company registry entry for Zero Financial Limited (67334973-003-03-26-5) was not checked, ICRIS only answers a person in a browser, so that is a gap in checking, not a finding about the firm.
• We hold no register for the authority named “New Zealand Companies Office,” so the NZBN 9429046269300 quoted for Zero Markets (NZ) Limited has not been checked either.

Why the Australian licence question matters for anyone opening an account

Two different pages on the firm’s own site describe two different AU licence structures for the same brand: The firm’s Australian about page names Zero Markets Australia Pty Ltd as AFSL 313016 holder and issuer, while the firm’s UAE fees page names Zero Securities Pty Ltd (AFSL 244040) as the licence holder with ZERO Financial Pty Ltd acting as its Authorized Representative. A client cannot tell from the “Zero Markets” brand name alone which of these two entities, and which AFSL, actually stands behind their account, that has to be checked page by page at the point of signup.

What Zero Markets’ own terms tell a client about risk

• The AU risk warning states: “If you are a wholesale client or sophisticated investor, you could lose substantially more than your initial investment”, negative-balance protection is not implied for that client class.
• The same risk warning states: “When acquiring our derivative products, you have no entitlement, right or obligation to the underlying financial assets”, clients hold a cash-settled derivative only, never the referenced shares, metals or currencies themselves.
• The website disclaimer states translated pages are “for convenience of clients with non-English speaking backgrounds only; the English version prevails in all cases”, a conflict between a translated page and the English original resolves against the client.
• The regulatory disclaimer on the firm’s UAE fees page states the “ZERO Markets” trading name covers “separate legal entities operating in different jurisdictions” and that “none of the entities listed below is authorised to provide financial services outside its permitted jurisdiction”, placing the burden on the client to confirm which entity and which licence actually covers their account before trading.

Fee structure and platform choice, where Zero Markets scores well

• The fee page advertises the Standard account with “Spreads from 1.0 pip” and “Commission per Lot $0*,” and the Super ZERO account with Spreads from 0.0 pip (raw pip) and “Commission per Lot $2.5* per side.”
• The same page advertises “Fee Free Funding for MT4/MT5 only,” subject to its own terms and conditions.
• Platform access spans MT4, MT5, a browser-based WebTrader for both, and a mobile app, with copy trading, social trading and PAMM listed as separate offerings on the same navigation.

A page inconsistency worth flagging

The Standard and Super ZERO minimum deposits differ tenfold between two of the firm’s own country versions of the site: the AE-facing pages state “$100 USD or equivalent” for both accounts, while the VN-facing page states “10,00 USD” for both, under the same account names. A separate AE spread table shows identical MIN/AVG values across nearly every currency pair including USD/KRW, while the AE fees page shows clearly varying, much larger values for the same pairs, one of the two tables does not reflect real pricing. Attempts to fetch the firm’s dedicated Terms & Conditions, Client Agreement and Risk Disclosure pages all returned no content, so the contractual detail above is limited to what the footer and disclaimer text on the fetched pages actually said.

Licenses & Regulation

We searched eight public registers directly for Zero Markets and its related entities, and ran a positive control against nine registers first, entering a firm already known to be listed, so that an empty result back would mean the firm truly is not there rather than the search failing quietly. We also read the firm’s own terms and disclaimer text and the published fee pages rather than a summary of either.

Two AFSL structures under the Zero Markets name

The brand appears under two different Australian Financial Services Licences depending on which page a reader lands on. The AU about page names ZERO Markets Australia Pty Ltd, ABN 94 125 113 117, as the entity trading under AFSL 313016, and the ASIC register confirms it: AFS licence 313016 is held by ZERO MARKETS AUSTRALIA PTY LTD, ABN 94125113117, since 12/10/2007. The Australian Business Register separately confirms the company itself: ACN 125 113 117, registered 27/04/2007, status registered.

The AE fee page instead names Zero Securities Pty Ltd as the AFSL 244040 holder, with ZERO Financial Pty Ltd trading as its Authorised Representative (no. 001301717). Here the ASIC register only gets us partway: AFS licence 244040 is held by NISENTIAL CAPITAL PTY LTD, ACN 056 617 862, ABN 61 056 617 862, and the Australian Business Register shows that company was named ZERO SECURITIES PTY LTD from 1 February 2023 until it was renamed NISENTIAL CAPITAL PTY LTD on 4 September 2026, so the licence is confirmed against the same company the fee page names, but only under a name it no longer carries. Two different corporate structures answer to the “Zero Markets” brand in Australia, and which one a client is actually dealing with depends on which page they read.

Zero Financial Ltd and the Mauritius licence

The FSC Mauritius Online Public Register lists Zero Financial Ltd holding a SEC-2.1B Investment Dealer (Full Service Dealer excluding Underwriting) licence, dated 05/05/2021. That confirms the company and its permission. The register does not publish the licence number itself, so the number GB21026308 quoted on the firm’s fee page is not something we could check against the register.

ZERO Markets (NZ) Limited is registered, not licensed

ZERO Markets (NZ) Limited appears on the New Zealand Financial Service Providers Register as FSP569807, trading as Nise Invest and Zero Markets, status Registered since 27 August 2018. Its listed service is “Client money or property service,” not a licensed service. Registration on the FSPR is not regulation by the Financial Markets Authority, and the register carries no FMA licence for this entity despite the firm’s own page describing it as “regulated and licensed.”

What we could not check

Zero Financial Limited’s Hong Kong registration (67334973-003-03-26-5) sits behind a registry that only answers a person working through a browser, so nobody has looked it up yet. That is a gap in our checking, not a finding about the firm. The same applies to ZERO Markets (NZ) Limited’s New Zealand Business Number (9429046269300): we hold no register entry for the New Zealand Companies Office, so it has not been checked either.

The remaining registrations are companies, not permissions

Zero Markets LLC is in the St Vincent and the Grenadines FSA entity name search under registration number 503, an LLC incorporated 22 July 2020, status Active. The SVG FSA registers companies and does not license forex or CFD brokers, so this confirms the company and nothing about a right to deal. The Australian Business Register separately confirms three more companies behind the brand at their current names: ZERO Financial Pty Ltd (ABN 72 623 051 641, registered 24/11/2017), Nisential Capital Pty Ltd (ABN 61 056 617 862, registered 09/07/1992) and ZERO Markets Australia Pty Ltd (ABN 94 125 113 117, registered 27/04/2007). Company registration is not a trading licence in any of these cases.

What the terms say about which entity a client is actually trading with

The regulatory disclaimer on the fee page states: The trading name ‘ZERO Markets’ may be used in connection with services provided by separate legal entities operating in different jurisdictions… None of the entities listed below is authorised to provide financial services outside its permitted jurisdiction. That puts the burden on the client to work out which entity, and which licence, actually covers them before trading. The AU site adds its own governing law clause: “The information on this site and all matters relating to it are governed by and construed in according with the laws of New South Wales and the Commonwealth of Australia,” and warns wholesale or sophisticated investor clients that “you could lose substantially more than your initial investment,” meaning the negative balance protection implied elsewhere does not extend to that class. A separate clause tells clients acquiring the firm’s derivative products they have “no entitlement, right or obligation to the underlying financial assets,” and a translation disclaimer makes clear that “the English version prevails in all cases” over any translated page or document.

The fee page excludes residents of a long list of countries, including Canada, the United States, all EU member states, Malaysia, Indonesia and Thailand, plus a separate, longer list naming dozens more jurisdictions including South Africa and Japan on the grounds of local licensing restrictions. The same page, complete with those exclusions, was served unchanged to our evidence’s South Africa and Japan geo exits.

How to Trade

Zero Markets lists its tradable markets on the fee page fetched for the UAE audience as Forex, Commodities, Metals, Indices, Share CFDs, Crypto CFDs and ETFs. The Australian entity’s own about page lists a narrower set: Forex CFDs, Share CFDs, Index CFDs, Commodity CFDs and Metal CFDs, with no ETF or Crypto CFD category shown on that page. We are reporting what each page states, not what the firm may or may not offer beyond it.

Zero Markets account types and what they cost to trade

The fee page describes two core account types. The Standard account carries a minimum deposit of “$100 USD or equivalent,” spreads described as “from 1.0 pip,” ECN pricing execution and a stated commission per lot of “$0*”. The Super ZERO account, also listed at a minimum deposit of “$100 USD or equivalent,” is priced differently: spreads “from 0.0 pip (raw pip),” the same ECN pricing execution, and a commission of “$2.5* per side” per lot. The asterisk on both commission figures is reproduced from the source page; the page does not spell out what it qualifies.

A Vietnamese language version of the same site, fetched separately, describes the same two account names, Standard (Tiêu chuẩn) and Super Zero, but gives the minimum deposit as “10,00 USD” for both, a tenth of the figure on the UAE facing page. Both pages describe spreads from 1.0 pip and 0.0 pip respectively for the two tiers, and both describe the Super Zero commission as charged per side. We cannot resolve which minimum deposit a given applicant will actually see; the two pages simply disagree, and a reader should confirm the figure that appears at the point of account opening rather than take either page as final.

A Share CFD and ETF CFD commission also applies, and the fee page states plainly that “Minimum commission applies for Share and ETF CFDs across all types of accounts,” without giving the figure. An Islamic account is listed in the site navigation with no further detail on the pages we fetched, and a demo account is described on the Vietnamese page as running on virtual funds, with full platform access, no verification required and instant setup.

One more mismatch worth flagging: a separate UAE-facing home page shows a forex spread table with an identical MIN 1.0 / AVG 1.2 for Standard and MIN 0.0 / AVG 0.1 for Super Zero across nearly every pair listed, including USD/KRW, while the fees page’s own table for the same pairs shows clearly varying and much larger figures, for example USD/KRW at Standard MIN 700 / AVG 1012 and Super Zero MIN 300 / AVG 613. The two tables cannot both be describing live spreads for USD/KRW; the uniform table reads like placeholder data that never got replaced, and we would treat the fees page’s varying figures over the root page’s flat ones.

Platforms Zero Markets runs its accounts through

Both account types trade through MetaTrader 4 and MetaTrader 5, each offered in Windows, Mac, iOS, Android and WebTrader variants per the fee page’s platform listing. The Vietnamese page adds that MT5 gives access to narrower raw pricing, faster execution and more advanced charting tools (our translation of the page’s own description) and describes the WebTrader option as browser based trading with no download and instant access. A mobile app is described on the same page as giving “real time market tracking.” Copy Trading, Social Trading and PAMM appear as separate navigation items under “Platforms” on the fee page, but neither page we fetched gives any further detail on how those services are structured, priced or run, so we can report only that they are listed, not what they do.

What binds a client once a position is open

The Australian entity’s risk warning states that “if you are a wholesale client or sophisticated investor, you could lose substantially more than your initial investment,” a warning that applies specifically to clients classified as wholesale or sophisticated rather than to retail clients generally. The same risk warning states that “when acquiring our derivative products, you have no entitlement, right or obligation to the underlying financial assets,” meaning a position in, say, a share CFD or commodity CFD never confers ownership of or rights to the referenced instrument; it is a cash settled derivative only.

The regulatory disclaimer on the fee page states that the trading name ‘ZERO Markets’ may be used in connection with services provided by separate legal entities operating in different jurisdictions and that “none of the entities listed below is authorised to provide financial services outside its permitted jurisdiction.” In practice this means the entity that actually holds a given client’s account, and therefore whichever regulator (if any) actually covers that account, depends on the client’s country of residence, and the same page places the burden on the client to confirm which entity and licence apply to them before trading. Our evidence also shows two different Australian licensing structures under the same brand: the Australian about page names ZERO Markets Australia Pty Ltd (ABN 94 125 113 117) as the AFSL 313016 holder and product issuer, while the fee page names Zero Securities Pty Ltd (ABN 61 056 617 862, AFSL 244040) as the licence holder, with ZERO Financial Pty Ltd acting as its Authorised Representative. Which of these actually issues a given Australian client’s contract is not something the pages we fetched let us determine.

The Australian site’s disclaimer also states that “any translations we provide are for convenience of clients with non-English speaking backgrounds only; the English version prevails in all cases,” so a Vietnamese speaking client relying on the Vietnamese page’s figures, including the $10 minimum deposit quoted above, is bound by the English version if the two ever conflict. The same disclaimer places the site under “the laws of New South Wales and the Commonwealth of Australia” for any dispute relating to the Australian site or entity.

Geography also gates who can hold an account at all. The fee page’s exclusion lists rule out applicants from a long list of countries including Canada, the United States, all European Union member states, Malaysia, Indonesia and Thailand on licensing grounds, a separate FATF and sanctions linked list covering countries including Afghanistan, Iran, Russia, Syria and Sudan, and a further clause stating that “ZeroMarkets does not accept applications from U.S, Japan or New Zealand residents,” even though a separately licensed entity, ZERO Markets (NZ) Limited, is described elsewhere in our evidence as serving New Zealand residents directly. We also note, without drawing a conclusion about intent, that the same fee page is served unchanged to visitors browsing from South Africa and Japan, both countries its own exclusion clauses name as ineligible.

We were not able to fetch the firm’s dedicated Terms and Conditions, Client Agreement or Risk Disclosure documents; every attempt to retrieve them returned no content. The contract terms above come from footer and disclaimer text on the pages we did retrieve, not from the full client agreement, so clauses on liability caps, margin close outs, or dispute procedures are not covered here because we have not read them.

Account Types

Zero Markets sells two live trading tiers under the ZERO Markets brand, both built on ECN-style pricing, plus a demo account and an Islamic account that appears in the site’s navigation without further detail on the pages fetched.

The Standard account

The firm’s UAE-facing fee page lists the Standard account’s minimum deposit as “$100 USD or equivalent,” with spreads “from 1.0 pip,” ECN-Pricing execution, and a commission per lot of “$0*.” The same account appears on the Vietnamese-language version of the site under the name “Tiêu chuẩn,” describing spreads “from 1.0 pip,” ECN pricing, and zero commission, but giving the minimum deposit as “10,00 USD” rather than $100.

The Super ZERO account

The Super ZERO account, per the same UAE fee page, carries a minimum deposit of “$100 USD or equivalent,” spreads “from 0.0 pip (raw pip),” ECN-Pricing execution, and a commission of “$2.5* per side” per lot. The Vietnamese site’s “Super Zero” listing matches the spread and commission figures, quoting “2,50 USD cho mỗi chiều giao dịch,” but again states the minimum deposit as “10,00 USD.”

Which minimum deposit actually applies

We fetched the account pages for both the UAE and Vietnam geo variants of the same brand, and the two disagree on the entry price for both accounts by a factor of ten: $100 on the UAE-served page, 10.00 USD on the Vietnam-served page. Both pages describe the same account names with the same spread and commission terms, so the pages we hold do not let us say which minimum deposit a given visitor will actually be asked to fund. Separately, the Vietnamese site states that funding an account is possible “chỉ từ 5 USD” (from as little as $5), though it notes available payment methods vary by region.

What else the two tiers charge

The UAE fee page states that funding through MT4/MT5 is fee-free: “Fee Free Funding for MT4/MT5 only. Terms & Conditions apply.” The same page states that a minimum commission applies to Share and ETF CFDs “across all types of accounts,” on top of the per-lot figures quoted above for forex and other instruments.

Islamic account and demo account

An Islamic Account is listed as a distinct account type in the site’s navigation on the fee page we fetched, but that page gives no detail on its spreads, commission or swap treatment. The Vietnamese site separately describes a demo account, priced at “0 USD / tháng,” offering trading with virtual funds, full platform access, no verification required, and instant setup.

Zero Markets’ entity structure behind the accounts

Which entity actually opens the account depends on which page and licence structure a client lands on. The UAE fee page names Zero Securities Pty Ltd (AFSL 244040) as the Australian licence holder, with ZERO Financial Pty Ltd acting as its Authorized Representative (no. 001301717), while the separate Australian “about” page names a different company, ZERO Markets Australia Pty Ltd, as the holder of AFSL 313016 and the issuer of the products described there. We searched the ASIC register directly: AFS licence 313016 is confirmed as held by Zero Markets Australia Pty Ltd, and AFS licence 244040 is confirmed as held by a company now called Nisential Capital Pty Ltd, which the Australian Business Register shows traded as Zero Securities Pty Ltd until it was renamed on 4 September 2026. A client working from the account terms on one page and the licence check on another is reconciling two different corporate names for what the site presents as a single brand.

Negative Balance Protection

Our evidence contains almost nothing that speaks directly to margin calls, stop-out levels, or a floor under how much a client can lose. The one clause the pages give on this point is narrow, and the document that would normally set the rest of it out could not be read at all.

What Zero Markets’ own risk warning says

The Risk Warning on the Australian entity’s site states: “If you are a wholesale client or sophisticated investor, you could lose substantially more than your initial investment.” That sentence, attributed to ZERO Markets Australia Pty Ltd’s about page, is written specifically for wholesale clients and sophisticated investors. The pages we fetched say nothing about what happens to a retail client’s account once losses reach the funds deposited, so we cannot report a retail negative-balance floor one way or the other from this evidence; we can only report that the warning we read singles out the wholesale/sophisticated-investor category for the specific risk of losing more than the initial stake.

The same Risk Warning adds that “when acquiring our derivative products, you have no entitlement, right or obligation to the underlying financial assets,” which confirms the positions are cash-settled CFDs rather than holdings in the referenced shares, commodities or currencies. Nothing in the fetched pages ties that clause to a specific margin call trigger, stop-out percentage, or liquidation threshold.

The document that would normally answer this was not readable

our review process attempted to fetch Zero Markets’ dedicated Terms & Conditions, Client Agreement, and Risk Disclosure pages from the UK version of the site across multiple probed URLs, and every attempt returned 0 bytes. No version of that document is in our evidence. Those are ordinarily where a CFD provider sets out margin call levels, stop-out percentages, and whether a negative balance is written off or remains owed, so this section cannot state Zero Markets’ contractual position on any of the three. That is a gap in what we managed to fetch, not a finding about what the firm’s agreement does or does not contain.

Which entity would actually hold the account

What loss-limit terms would apply, if any were published, depends on which of Zero Markets’ several corporate entities the client is contracted with, and our evidence shows that split is not tidy. Two different Australian licensing structures appear across the fetched pages: the about page names ZERO Markets Australia Pty Ltd (ABN 94 125 113 117) as holder of AFSL 313016, which the ASIC register confirms, while the fees page names Zero Securities Pty Ltd (ABN 61 056 617 862) as holder of a different AFSL, 244040, with ZERO Financial Pty Ltd acting as its Authorised Representative. The ASIC company register confirms Zero Securities Pty Ltd as a company, and separately shows it was renamed Nisential Capital Pty Ltd on 4 September 2026, but confirming a company on the register is not the same as confirming which licence covers a given client’s account, and the fetched pages do not resolve which of the two structures a particular Australian client ends up signed to.

Outside Australia the picture is similarly split by entity. The FSC Mauritius register confirms Zero Financial Ltd holds a SEC-2.1B Investment Dealer licence. The New Zealand Financial Service Providers Register shows ZERO Markets (NZ) Limited as registered for a client-money-or-property service, which is not a licensed service, so nothing on that register amounts to FMA licensing of loss-limit rules for New Zealand clients. The St Vincent and the Grenadines FSA record for Zero Markets LLC confirms only that the LLC is registered there; that authority does not license forex or CFD business, so it says nothing about margin or negative-balance terms either. The Hong Kong entity, Zero Financial Limited, has not been checked against the Hong Kong company registry at all. Whatever a client’s loss protection actually is, our evidence cannot say it is uniform across entities, because the regulatory status behind each entity is not uniform either.

Two clauses that would matter if a dispute over losses arose

The Australian site’s Website Disclaimer states that “the information on this site and all matters relating to it are governed by and construed in according with the laws of New South Wales and the Commonwealth of Australia,” so a dispute connected to that entity’s site falls under NSW and Australian law rather than the client’s home jurisdiction. The same disclaimer states that “any translations we provide are for convenience of clients with non-English speaking backgrounds only; the English version prevails in all cases,” meaning a Vietnamese-language client reading the Vietnamese home pages we fetched cannot rely on that translated text if it conflicts with the English original, including on anything the English risk documents eventually say about loss limits.

Trading Instruments

Zero Markets’ United Arab Emirates fee page lists seven asset classes under its “Markets” navigation: Forex, Commodities, Metals, Indices, Share CFDs, Crypto CFDs, and ETFs. That same page notes a “Minimum commission applies for Share and ETF CFDs across all types of accounts,” though it does not give the figure.

A narrower list on the Zero Markets Australia page

The Zero Markets Australia Pty Ltd “about” page, covering the entity holding AFSL 313016, lists only five product classes: Forex CFDs, Share CFDs, Index CFDs, Commodity CFDs, and Metal CFDs. ETF CFDs and Crypto CFDs, both present on the UAE fee page, do not appear on this Australian entity’s page. Since Zero Markets operates through separate legal entities by jurisdiction, a reader in Australia has no basis from this page to assume the crypto or ETF CFDs advertised elsewhere are available to them.

What the account pages say about access, and what they don’t

Zero Markets’ Vietnam-facing root page describes both its Standard and Super Zero accounts as giving “Truy cập đầy đủ vào các sản phẩm” (full access to products), without listing which products that covers. The UAE fee page’s Standard and Super ZERO account entries describe spreads and commission per lot.

Beyond the account pages, the fetched material gives no per-instrument specification: no contract sizes, no margin or leverage figures by instrument, no list of which specific shares or crypto pairs are on offer. The forex spread tables that do exist are themselves inconsistent between pages: the UAE root page shows near-identical MIN 1.0/AVG 1.2 (Standard) and MIN 0.0/AVG 0.1 (Super Zero) values across almost every listed pair, including USD/KRW, while the UAE fees page shows clearly different and much larger figures for the same pairs (USD/KRW: Standard MIN 700/AVG 1012, Super Zero MIN 300/AVG 613). The two pages cannot both be describing the same current pricing for the same account.

An Islamic Account appears as a navigation item on the UAE fee page, but the fetched pages give no detail on which instruments it covers or how it differs from the Standard or Super ZERO accounts on asset access. Copy Trading, Social Trading, and PAMM also appear as separate navigation items under “Platforms” on the same page, again with no further description in the material we retrieved.

Documents that would settle this were not retrieved

None of the attempts to fetch Zero Markets’ Terms & Conditions, Client Agreement, or Risk Disclosure documents succeeded; every probed URL for these returned 0 bytes. Those are the documents most likely to set out contract specifications, eligible instrument lists per entity, and any asset restrictions tied to account type or jurisdiction. Their absence means this section rests on marketing pages rather than the binding product schedule, and the gap between the UAE page’s eight-class list and the Australian entity’s five-class list cannot be resolved from what we hold.

Education & Analysis

Zero Markets does not have a dedicated charts and analysis page in our evidence, so what follows is built from the platform lists on the fetched account and about pages.

Platforms Zero Markets offers

The firm’s fee page lists MetaTrader 4, describing “MT4 trade Analysis tools” and “50 plus pre installed charts,” with Windows, Mac, iOS, Android and WebTrader variants named. The Vietnamese facing root page lists MetaTrader 5 in similar terms, saying traders benefit from tighter raw pricing, faster execution and more advanced charting tools, again with Windows, Mac, iOS, Android and WebTrader variants listed. Both pages describe MT4 and MT5 as separate platform offerings rather than one platform with an upgrade path, so a trader choosing between them is choosing between two distinct terminals with their own account types, covered below.

WebTrader and mobile access

The Vietnamese root page separately lists a WebTrader option for both MT4 and MT5, describing it as trading directly in the browser with MT4/MT5 WebTrader, no download required, with instant access from anywhere. The same page lists a ZERO Markets mobile app, described as letting a trader keep track of global markets with real time updates. Neither page gives any further detail, such as which order types, indicators or drawing tools the app or WebTrader actually carry, so what is confirmed here is that the products are advertised, not what they contain.

Copy trading, social trading and PAMM

The fee page’s navigation lists Copy Trading, Social Trading and PAMM as separate items alongside MT4, MT5 and WebTrader under a “Platforms” heading. No further detail on any of these three is given anywhere in the fetched pages, so this section can confirm only that the firm advertises them as offerings, not how they work, what they cost, or which account types can use them.

Which account ties to which platform

The account structure sits on top of these platforms rather than beside them. The fee page names a Standard account with spreads from 1.0 pip, ECN pricing execution and commission per lot of $0, and a Super ZERO account with spreads from 0.0 pip described as raw pip, also ECN pricing execution, with a commission per lot of $2.50 per side. The Vietnamese root page gives the same two account names, Standard and Super Zero, with the same spread and commission structure translated, though the minimum deposit figures conflict between the two pages, noted below. Neither page states outright whether Standard is MT4 only and Super ZERO is MT5 only, or whether both platforms are available on both accounts, so that mapping is not established by what was fetched.

Charting data quality on Zero Markets’ own pages

Two pages in our evidence that would otherwise support claims about the trading conditions behind the charts do not agree with each other. The forex spread table on the AE root page shows an identical minimum of 1.0 and average of 1.2 pips for the Standard account, and an identical minimum of 0.0 and average of 0.1 pips for Super Zero, repeated across essentially every listed pair including USD/KRW. The AE fees page’s own spread table shows clearly varying, much larger values for the same pairs, for example USD/KRW at a Standard minimum of 700 and average of 1012, and a Super Zero minimum of 300 and average of 613. The uniform figures on the root page read like placeholder data that was never replaced with the per pair numbers the fees page carries, and a trader relying on the root page’s table would be looking at spread figures that do not match the firm’s own fees page.

What the evidence does not cover

Nothing in the fetched pages describes charting timeframes, indicator counts, drawing tools, one click trading, algorithmic or expert advisor support, or third party charting integrations such as TradingView. The pages describe MT4 and MT5 in general terms and name WebTrader, the mobile app, copy trading, social trading and PAMM as offerings, but the detail a trader would need to judge the actual charting toolset, beyond the “50 plus pre installed charts” line on MT4, was not present in what we fetched.

Special Offers

The pages our review process fetched for Zero Markets carry pricing details rather than a promotions page as such. Two items on the AE-facing fees page and the Vietnamese-language root page read as offer-adjacent, and both are reported below with the wording and the page they came from. Beyond those two items, the fetched pages describe account pricing, execution model and funding minimums, and say nothing about deposit bonuses, welcome credit, cashback schemes or trading contests.

What Zero Markets waives on funding

The AE-facing fees page states, under its funding-fee line: “Fee Free Funding for MT4/MT5 only. Terms & Conditions apply.” That is the only waiver of a fee that our evidence captured, it is scoped to MT4/MT5 funding only, and the page does not reproduce the terms and conditions it points to, so the conditions attached to the waiver, and any limit on how long it runs, are not established by what we read.

The same page notes a “minimum commission applies for Share and ETF CFDs across all types of accounts,” without giving the figure, so that floor cannot be quoted here either.

Funding minimums, and where Zero Markets’ own pages disagree

The Vietnamese-language root page gives a minimum funding amount of $5, in the line “Nạp tiền vào tài khoản chỉ từ 5 USD,” adding that available payment methods vary by region. The same page lists the Standard and Super Zero account minimum deposits as 10,00 USD each. The AE-facing fees page, describing what appear to be the same two account types, gives their minimum deposit as “$100 USD or equivalent” in both cases. This review holds both figures because both are what the respective pages state; the two pages do not agree with each other on what it costs to open a Standard or Super Zero account, and neither figure should be read as authoritative over the other without checking which page applies to a given visitor’s region.

The demo account

The Vietnamese-language root page lists a demo account at “0 USD / tháng” (0 USD per month), describing it as trading with virtual funds, full platform access, no verification required, and instant setup. This is a cost-free way to trial the platform rather than a trading incentive: the page does not tie it to any deposit, promotional code, or reward on conversion to a live account.

What the fetched pages do not cover

None of the pages in our evidence is a dedicated promotions or bonus page, and attempts to fetch the firm’s Terms & Conditions, Client Agreement and Risk Disclosure documents from the UK version of the site returned nothing. That matters here specifically because a funding-fee waiver of the kind quoted above is exactly the sort of item whose real conditions, start date and eligibility rules would sit in a document of that kind. What can be said from what we hold is limited to the “Fee Free Funding for MT4/MT5 only” line itself, the minimum-commission mention for Share and ETF CFDs, and the account and demo minimums above; nothing in the fetched pages describes a deposit bonus, a welcome offer, a loyalty or cashback programme, or a time-limited promotional campaign, and no page of that kind was captured for this review.

Opening an Account

Opening an account with Zero Markets means picking a legal entity first, because the brand covers several of them and our evidence does not show one consistent set of terms across all of them. The firm’s own disclaimer on its fee page states: The trading name ‘ZERO Markets’ may be used in connection with services provided by separate legal entities operating in different jurisdictions… None of the entities listed below is authorised to provide financial services outside its permitted jurisdiction. That puts the burden on the applicant to work out which entity, and which licence, actually covers them before signing up.

Which Zero Markets entity opens the account

The pages in our evidence show the brand split across at least six legal entities. Zero Financial Ltd, registered in Mauritius, is described on the fee page as an Investment Dealer Licensee, and the FSC Mauritius Online Public Register confirms the company and its SEC-2.1B Investment Dealer (Full Service Dealer excluding Underwriting) licence, dated 05/05/2021, though the register publishes the licence type and date rather than a licence number, so the quoted number GB21026308 is not itself confirmed. ZERO Markets Australia Pty Ltd is named on the AU about page as holder of AFSL 313016, which the ASIC register confirms. A separate AE fees page names a different Australian structure entirely: Zero Securities Pty Ltd as AFSL 244040 holder, with ZERO Financial Pty Ltd acting as its Authorized Representative (no: 001301717). The Australian Business Register shows that AFSL 244040 sits with a company now called Nisential Capital Pty Ltd, which traded as Zero Securities Pty Ltd from 1 February 2023 until it was renamed on 4 September 2026, so the fee page names that company under a former name. Which of these two Australian structures an applicant actually ends up contracting with is not something our evidence resolves. ZERO Markets (NZ) Limited is described on the Vietnamese-language root page as issuing and providing derivative products only to New Zealand residents, and the New Zealand Financial Service Providers Register confirms the company as FSP569807, trading as Nise Invest and Zero Markets, registered 27 August 2018, with its registered service listed as client money or property service. That is not a licensed service, so the register records no FMA licence for it, and registration on the FSPR is not the same as being regulated by the FMA. Zero Markets LLC, used for clients in Saint Vincent and the Grenadines, is confirmed on the SVG FSA entity search as registration number 503, an LLC incorporated 22 July 2020, but the SVG FSA registers companies and does not license forex or CFD brokers, so that confirms the company only. Zero Financial Limited, the Hong Kong entity, gives a business registration number, but nobody has yet looked that up on the Hong Kong Companies Registry, so that is a gap in the checking done for this review rather than a finding.

Opening the account

The fee page lists three account types with a stated minimum deposit: the Standard account and the Super ZERO account, each given as “$100 USD or equivalent,” and an Islamic Account, which appears in the navigation with no further detail on the pages fetched. The Vietnamese-language root page gives the same two account names, Standard and Super Zero, with a minimum deposit of “10,00 USD” instead, a tenfold difference from the AE-facing figure for what is described as the same account. Which minimum actually applies depends on which regional version of the site an applicant reaches. A demo account is also offered on the Vietnamese page, described as using virtual funds, giving full platform access, and, in the page’s own words, requiring “Không yêu cầu xác minh” (no verification required) with “Thiết lập tài khoản ngay lập tức” (instant setup), which places it outside any deposit or verification steps required for a live account. Funding a live account is separately described on the same page as available “chỉ từ 5 USD” (from as little as $5), a figure that sits below both of the stated account minimums and appears to describe the funding floor rather than the account opening minimum. None of the pages in our evidence set out what identity documents are demanded at verification.

Who Zero Markets will not take as a client

The fee page carries three separate exclusion clauses rather than one list. It first states services are not permitted due to local licensing/regulatory restrictions for residents of Canada, the United States, all European Union member states, Malaysia, Indonesia, and Thailand. It separately excludes FATF high-risk or UN and EU sanctioned jurisdictions: Afghanistan, Cuba, Iraq, Iran, Liberia, Libya, Myanmar, Palestine, Russia, Somalia, Sudan, Syria, and Yemen. A third, longer clause on the same page states “Our services are not available to residents of specific jurisdictions including…” and lists a further set running to over forty countries, among them Denmark, Italy, Slovenia, Sweden, Spain, South Africa, Nigeria, and the Philippines. A fourth clause states plainly that “ZeroMarkets does not accept applications from” U.S., Japan, or New Zealand residents, though New Zealand residents are served instead through the separately licensed ZERO Markets (NZ) Limited entity named on the Vietnamese-language page. Separately, the AU about page states its site is intended for Australian residents only, and warns against use by non-Australian residents or in jurisdictions where that use would be against local law. One inconsistency worth flagging here: the AE fee page, whose own text excludes South African and Japanese residents, is served identically to visitors reaching the site from South Africa and Japan geo exits, so the exclusion and the page being shown do not line up.

Terms that follow from signing up with the AU entity

For the AU about page’s entity, the site states that “the information on this site and all matters relating to it are governed by and construed in according with the laws of New South Wales and the Commonwealth of Australia,” which sets the governing law and likely forum for any dispute. The same page’s risk warning tells wholesale or sophisticated investor clients that “you could lose substantially more than your initial investment,” meaning that classification is not covered by negative-balance protection on the evidence available. It also states that when acquiring the firm’s derivative products, “you have no entitlement, right or obligation to the underlying financial assets,” confirming the products are cash-settled CFDs rather than ownership of the referenced shares, commodities, or currencies. Translated pages carry their own caveat: “any translations we provide are for convenience of clients with non-English speaking backgrounds only; the English version prevails in all cases,” so a Vietnamese-language applicant relying on the figures quoted above is bound by the English original if the two conflict. No client agreement, terms and conditions, or risk disclosure document was successfully retrieved in our evidence: every attempt to fetch those dedicated pages returned nothing, so the liability, withdrawal, and dispute clauses that would normally sit in that document are not covered here.

Deposits & Withdrawals

Zero Markets is not one company but a trading name used by several separate legal entities, and the pages we fetched are not consistent about the terms that matter most for moving money: how much it costs, how little a client can move, and who actually holds it.

What Zero Markets charges to fund and withdraw

The firm’s own UAE-facing fee page states “Fee Free Funding for MT4/MT5 only. Terms & Conditions apply.” That is the only funding fee figure in the material we read, and it comes with a condition we could not chase down: the terms and conditions page that would set out what “Terms & Conditions apply” actually excludes was one of the documents that returned 0 bytes when we tried to fetch it, along with the client agreement and the risk disclosure. So the fee-free claim is on the page, but the fine print behind it is not something we have read.

The same fee page also notes that “Minimum commission applies for Share and ETF CFDs across all types of accounts,” without stating a figure, so a client trading those instruments cannot price the floor from this page alone.

Minimum deposit: two different numbers from the same brand

How little money opens a Zero Markets account depends on which of the firm’s own pages is read. The AE-facing fee page gives the Standard and Super ZERO accounts a minimum deposit of “$100 USD or equivalent” each. The Vietnamese-language root page states a minimum deposit of “10,00 USD” for the same two account names, Standard and Super Zero. Separately, that same Vietnamese page tells depositors “Nạp tiền vào tài khoản chỉ từ 5 USD” (fund the account from as little as $5), which is a third figure again. We are not in a position to say which of $100, $10, or $5 actually applies to a given client; the pages disagree with each other, and the mismatch itself is the finding.

The Vietnamese page adds one qualifier worth keeping: “Các phương thức thanh toán khả dụng có thể khác nhau tùy khu vực” (available payment methods vary by region). It does not name a single payment method, card scheme, bank transfer route or e-wallet anywhere in the pages we fetched, so we cannot tell a reader what rails are actually on offer, only that the firm says the answer depends on where the client is.

Which entity is actually holding the client’s money

Because “Zero Markets” covers several companies, the entity that takes a deposit and processes a withdrawal changes with the client’s country. Our evidence names Zero Financial Ltd of Mauritius, Zero Financial Limited of Hong Kong (Room D5, King Yip Factory Building, Kwun Tong, Kowloon), Zero Markets LLC of St. Vincent and the Grenadines, ZERO Markets Australia Pty Ltd of Sydney, Zero Securities Pty Ltd, and ZERO Markets (NZ) Limited. The firm’s own regulatory disclaimer is explicit about what that means for a client: The trading name ‘ZERO Markets’ may be used in connection with services provided by separate legal entities operating in different jurisdictions… None of the entities listed below is authorised to provide financial services outside its permitted jurisdiction. In practice, that puts the burden on the client to work out which entity, and therefore which set of withdrawal terms and which regulator, actually applies to their account before they fund it.

That burden is not academic here. The AE fee page names Zero Securities Pty Ltd (ABN 61 056 617 862) as the AFSL 244040 holder, with ZERO Financial Pty Ltd acting as its Authorized Representative. The Australian Business Register shows that same company traded as Zero Securities Pty Ltd only until 4 September 2026, when it was renamed Nisential Capital Pty Ltd, so a client reading that page today is reading a name the company itself has since dropped. The Australia “about” page, meanwhile, names a different corporate structure again, ZERO Markets Australia Pty Ltd (ABN 94 125 113 117) as AFSL 313016 holder. A client cannot tell from the brand alone which of the two AU structures, and which licence number, actually stands behind their account.

One entity’s licensing status we could check directly: the FSC Mauritius Online Public Register confirms Zero Financial Ltd holds an SEC-2.1B Investment Dealer licence, licensed 5 May 2021, though the register publishes the licence type and date rather than a licence number, so the number GB21026308 quoted on the firm’s own page is not something the register confirms.

Where deposits and withdrawals are switched off entirely

The AE fee page lists countries where the firm says its services are “not permitted”: Canada, the United States, every EU member state, Malaysia, Indonesia and Thailand under one clause, and Afghanistan, Cuba, Iraq, Iran, Liberia, Libya, Myanmar, Palestine, Russia, Somalia, Sudan, Syria and Yemen under another. A separate, longer exclusion list on the same page adds further countries including Spain, Sweden, Denmark, Italy, South Africa, Nigeria and Venezuela among others, and a further clause states “ZeroMarkets does not accept applications from U.S, Japan or New Zealand residents” (New Zealand residents are, per a separate page, served instead by the licensed ZERO Markets (NZ) Limited entity). For a client resident in any of these places, the deposit-and-withdrawal question is moot before it starts.

What we could not check

We read the fee pages and the site disclaimers, not the client agreement itself. Every attempt to fetch the dedicated Terms & Conditions, Client Agreement and Risk Disclosure pages came back empty, so anything a full agreement would normally set out, withdrawal processing times, minimum withdrawal amounts, inactivity or administration fees, identity-verification holds, is not something we can report on here. What is above is what the fee and country versions of the site actually say, including where they contradict each other.

Customer Support

Our evidence lists a channel and a schedule for Zero Markets, and not much beyond that. Under “Get in touch,” the firm’s fee page shows a nav link for “Contact Us / Live Support,” and the same page states the firm offers “24/5 customer support” and “24/5 multilingual support.” That is the whole of what the firm’s own pages say about how a client reaches it and when: a live-chat style channel, five days a week, in more than one language, with no hours narrower than that and no stated response-time commitment.

We read the firm’s fee and about pages and the site’s disclaimer and risk-warning text. None of it gives a complaint procedure, escalation path, or internal dispute-resolution clause, and none of it addresses how a complaint is logged, how long the firm has to respond, or where a client goes if support does not resolve the issue. Our evidence notes that the dedicated Terms & Conditions, Client Agreement, and Risk Disclosure documents all returned empty when fetched, so any complaints-handling clause, liability cap, or arbitration term that would normally sit in a client agreement is not something we have read.

Which Zero Markets a complaint actually reaches

The trading name “ZERO Markets” covers several separate legal entities, and the firm’s own regulatory disclaimer on the firm’s UAE fees page is explicit about the consequence: The trading name ‘ZERO Markets’ may be used in connection with services provided by separate legal entities operating in different jurisdictions… None of the entities listed below is authorised to provide financial services outside its permitted jurisdiction. On the firm’s Australian about page, the Australian entity is named as ZERO Markets Australia Pty Ltd, holder of AFS licence 313016, which the ASIC register confirms is held by that company. On the firm’s UAE fees page, a different structure is described for Australia: Zero Securities Pty Ltd holding AFSL 244040, with ZERO Financial Pty Ltd acting as its Authorised Representative (no: 001301717). The ASIC register shows AFSL 244040 held by Nisential Capital Pty Ltd (ACN 056 617 862), and the Australian Business Register shows that company was named Zero Securities Pty Ltd until it was renamed on 4 September 2026.

That matters for support because the registers behind these entities do not all confirm the same thing. The ASIC register confirms AFS licence 313016 for ZERO Markets Australia Pty Ltd. The FSC Mauritius Online Public Register confirms Zero Financial Ltd holds a SEC-2.1B Investment Dealer licence, though it publishes the licence type and date rather than the number quoted on the firm’s own page. The New Zealand Financial Service Providers Register shows ZERO Markets (NZ) Limited as FSP569807 with registered services limited to “Client money or property service,” which is not a licensed service, so the FSPR does not record an FMA licence for that entity despite the firm’s own page describing it as “regulated and licensed.” A client dealing with the New Zealand entity, whatever channel they use, is not raising an issue with an FMA-licensed firm in the sense that phrase usually carries.

What a complaint can rely on, and what it can’t

On the contract side, the only client-facing terms we could read sit in short disclaimer and risk-warning passages, not in a full client agreement. The Australian about page disclaimer states that “The information on this site and all matters relating to it are governed by and construed in according with the laws of New South Wales and the Commonwealth of Australia,” so a dispute tied to the Australian entity sits under NSW and Commonwealth law, a jurisdiction that will be unfamiliar to a client based elsewhere. The same page’s risk warning states that “If you are a wholesale client or sophisticated investor, you could lose substantially more than your initial investment,” meaning support for that class of client is not backstopped by negative-balance protection. And the disclaimer notes that “Any translations we provide are for convenience of clients with non-English speaking backgrounds only; the English version prevails in all cases,” so a non-English-speaking client raising a complaint through translated material is bound by the English text regardless of what the translation told them.

Beyond the live-support link, the 24/5 hours, and the entity addresses in Sydney, Mauritius, Hong Kong, and St. Vincent and the Grenadines that the pages list as registered offices rather than support desks, there is nothing in what we fetched about phone lines, email addresses, ticket systems, or a stated response-time target. The client agreement, terms and conditions, and risk disclosure documents that would normally set out a complaints procedure did not load when our evidence was built, so that gap sits in the evidence, not in a conclusion drawn from silence.

Prohibited Countries

Zero Markets publishes two separate exclusion lists on the same fetched page, and they do not match each other. Reporting both as written, rather than picking one, is the only honest way to handle a firm whose own page contradicts itself.

The first list: licensing and sanctions exclusions

The page states plainly that the service is not permitted due to local licensing/regulatory restrictions for residents of Canada, the United States, all European Union member states, Malaysia, Indonesia, and Thailand. A second clause on the same page excludes residents of FATF high-risk or UN/EU sanctioned jurisdictions by name: Afghanistan, Cuba, Iraq, Iran, Liberia, Libya, Myanmar, Palestine, Russia, Somalia, Sudan, Syria, and Yemen.

The second list: a longer, overlapping set on the same page

Further down the same document, a separate clause opens “Our services are not available to residents of specific jurisdictions including” and then names a much longer set of countries, many repeated from above and many new: Afghanistan, Canada, Cuba, Iraq, Iran, Liberia, Libya, Myanmar, Palestine, Denmark, Italy, Russia, Slovenia, Sweden, Somalia, Syria, Sudan, Yemen, Spain, the European Union, Malaysia, Indonesia, Vietnam, Thailand, the United States, Algeria, Angola, Bulgaria, Burkina Faso, Cameroon, Central African Republic, Côte d’Ivoire, Croatia, North Korea, the Democratic Republic of the Congo, Eritrea, Ethiopia, Haiti, Kenya, Lebanon, Mali, Monaco, Mozambique, Namibia, Nigeria, North Sudan, Rwanda, the Philippines, Sierra Leone, South Africa, South Sudan, Tanzania, and Venezuela. This list names individual EU member states (Denmark, Italy, Slovenia, Sweden, Spain, Croatia, Bulgaria) separately from, and in addition to, its own blanket reference to “the European Union” a few words earlier, and it also names Vietnam.

A third, separate clause naming individuals rather than countries

The same page states that “ZeroMarkets does not accept applications from” residents of “U.S, Japan or New Zealand.” New Zealand sits awkwardly in that sentence: the evidence we gathered shows ZERO Markets (NZ) Limited registered on the New Zealand Financial Service Providers Register (FSP 569807) specifically to serve New Zealand residents, so a New Zealand resident reading the AE-facing page’s applications clause and the NZ-facing entity’s own registration would draw opposite conclusions about whether they can open an account.

Where the exclusions land on Zero Markets Australia

The Australian entity’s own page carries a narrower, differently worded restriction: it states the website is “intended for Australian residents only” and warns off “non-Australian residents” and users in jurisdictions where use of the site “would be contrary to local law.” That is a residency-of-use statement tied to the AU entity, not a country list, and it does not repeat any of the named countries above.

A serving mismatch worth flagging

Our evidence notes that the firm’s UAE fees page, the page carrying both country lists above, was served identically to visitors exiting through South African and Japanese geo locations, even though its own text excludes South African residents from paragraph two and states that Japan residents cannot apply in paragraph three. That is a firm serving its own excluded-country list to residents of two of the countries named on it, and it means the presence of a working page in front of a visitor from either country carries no weight against the text of the page itself.

What this means for reading these lists

Three clauses on one fetched page name overlapping but not identical sets of excluded countries, plus a fourth clause on the Australian entity’s separate page. Which entity a given visitor actually contracts with determines which of these clauses, if any, applies to them, and the firm’s own regulatory disclaimer (quoted under the regulation section of this review) puts that burden of working it out on the client.

Conclusion

Zero Markets is not one broker but a trading name shared across at least six legal entities, and the evidence pulled from the firm’s own pages does not agree on which one holds the licence. Zero Markets Australia Pty Ltd (ABN 94 125 113 117) is named on the AU about page as the holder of AFSL 313016, a licence the ASIC register confirms. A separate page names a different company, Zero Securities Pty Ltd (AFSL 244040), as the licence holder, with Zero Financial Pty Ltd acting as its Authorised Representative. The Australian Business Register shows Zero Securities Pty Ltd was renamed Nisential Capital Pty Ltd on 4 September 2026, so the firm’s own fee page is naming a company under a name that register no longer uses. A reader cannot tell from the brand alone which of these two AFSL structures actually holds their account.

What the registers actually confirm for Zero Markets

The FSC Mauritius register confirms Zero Financial Ltd holds an SEC-2.1B Investment Dealer licence, licensed 05/05/2021, though the register publishes the licence type and date and not the number, so the quoted number GB21026308 stands unconfirmed. The New Zealand Financial Service Providers Register shows Zero Markets (NZ) Limited as FSP569807, registered and trading as Nise Invest and Zero Markets, but its listed service is client money or property service, not a licensed service, so the register records no FMA licence for that entity. Registration on the FSPR is not regulation by the FMA. The St Vincent and the Grenadines FSA entry for Zero Markets LLC confirms an active LLC registration, not a financial licence, since the SVG FSA registers companies rather than licensing brokers. The Hong Kong entity, Zero Financial Limited, has not been checked against the Hong Kong Companies Registry, which only answers a browser query, so that is a gap in our checking rather than a finding either way.

What Zero Markets charges and offers

The firm’s own fee page advertises the Standard account from 1.0 pip with $0 commission per lot, and the Super ZERO account from 0.0 pip with a $2.50 per side per lot commission, both against a stated minimum deposit of $100 USD or equivalent. The Vietnamese-language version of the same account tiers gives a minimum deposit of $10 instead, a tenfold difference our evidence cannot reconcile. The fee page also states funding is free for MT4/MT5, “Terms & Conditions apply,” and that a minimum commission applies for Share and ETF CFDs across all account types. Trading runs on MT4, MT5 and their WebTrader variants, plus a mobile app and listed copy trading, social trading and PAMM options, though the pages fetched give no further detail on those last three.

Terms that bind a client at Zero Markets

The AU risk warning states wholesale clients or sophisticated investors “could lose substantially more than your initial investment,” meaning negative-balance protection is not implied for that class. The same warning states that on the firm’s derivative products a client has “no entitlement, right or obligation to the underlying financial assets.” The website disclaimer states any translation is “for convenience of clients with non-English speaking backgrounds only; the English version prevails in all cases,” so the $10-minimum Vietnamese page carries no weight against the $100 figure on the English one. None of the pages fetched for this review were the actual Client Agreement or Risk Disclosure document: every attempt to retrieve those returned 0 bytes, so what is reported here comes from footer and disclaimer text, not the binding contract itself.

Where the score lands

The fee structure, drawn from the firm’s own published rates, and the platform offering account for the higher marks in this review. Regulation and support score lower because the entity structure cannot be pinned to a single licence from the firm’s own pages, support channels amount to a contact link and stated 24/5 hours with no further detail, and the binding client documents were never retrieved.

Zero Markets offers MT4/MT5 trading with spreads from 0.0 pips on its Super ZERO account, but its own pages name two different Australian licence holders for the same brand and give two different minimum deposits for the same account tier, which is why TrueBroker scores it 7 out of 10.

FAQ