Another new broker that I’m going to review is Anzo Capital. Founded in 2016, Anzo Capital is Belize-based forex broker. Their website supports various languages like English, Russian, Spanish and Chinese but they do not accept clients from the United States.
Anzo Capital is offering MetaTrader4 trading platform, which is my favorite platform because it’s fast, stable and it’s also suitable for traders who are using expert advisors. If you are wondering Anzo Capital’s advantages and disadvantages you can continue reading my Anzo Capital review.
Is Anzo Capital scam or good broker? What are Anzo Capital’s account types, spreads, leverage ratio and deposit methods? Is Anzo Capital regulated broker? I will explain all these questions. But first, let’s check Anzo Capital’s regulation.
I reviewed Anzo Capital based on the following criteria.
- High spreads
- Payment methods are limited
Anzo Capital operated by Anzo Capital Limited and they regulated by International Financial Services Commission (IFSC) in Belize. There are more serious regulators like CySEC in Cyprus, Financial Conduct Authority (FCA) in the UK, or Australian Securities and Investments Commission (ASIC) in Australia but it is better than being unregulated forex broker.
By the way, regulators like FCA and CySEC, lowered the leverage rates because of new measures of ESMA. And also, it is hard to obtain licenses from these regulators. That’s why some of the new brokers choose to be regulated by IFSC or Vanuatu Financial Services Commission (VFSC).
Anzo Capital offers 2 account types: STP and ECN accounts. Minimum deposit limit is $100 for STP and $500 for ECN account. Stop/out level is %50 for both account types and minimum lot size is 0.01. I can say spreads on STP account are over the average (2 – 2.3) and on ECN account, you need to pay $7 commission for per lot.
Also, maximum leverage is up to 1:500 for all account types and I see this as an advantage because of the new ESMA rules. Many different instruments are available on the platform like major and exotic currencies, various commodities, indices and cryptocurrencies.
There not many deposit/withdrawal methods available at Anzo Capital. Investors can deposit by using credit and debit cards, wire transfer, fasapay and WebMoney but deposit methods like Bitcoin, Neteller, Skrill and PayPal. There are no fees on depositing money. But when you want to withdraw money with wire transfer or online bank transfer, charges may apply.
When I first wrote this review, the methods of depositing and withdrawing were as above. However, over time, new methods were introduced by Anzo Capital. Now I can say that the deposit and withdrawal methods have quite a wide variety. In addition, the necessary information about the transfer process was also given in a transparent manner. For example, information about transfer time and fees is now available. I would like to thank the authorities of Anzo Capital for taking these criticisms into account.
Even if they are not regulated by the respected regulator, Anzo Capital is a IFSC licensed broker. Maximum leverage they offer(1:500) and $100 minimum deposit limit is nice but spreads and commisions are higher than other brokers. If you are thinking regulation is the most important factor to me, I won’t recommend you to work with them.