Zentrader (also known as Zen Trader or Zen Trade) is a new binary options broker launched in 2019. After a period of consolidation and reform in the binary options industry, we are now seeing the emergence of new and serious players. Zentrader is one this new generation of binary option brokers who’s focus is on fairness, transparency and providing a great trading experience.
The Payout team went through the signup process, website, trading platform, payment methods, assets and customer support. Here is our Zentrader review.
How To Register
Getting started is easy via a simple registration form.
Simply enter you country of residency (this will determine the base currency of your account), name, email, mobile phone and address details on the following page (step 2). You are then required to submit 2 ID documents (government issued photo ID + bank/utility bill issues within 6 months).
If you do not yet have a Zen Trader account, click below to register (affiliate link):
As a financial services provider, Zentrader is required to complete the KYC process and is fairly strict with respect to verifying your identity. Please read the instructions carefully before uploading your ID documents.
Below is the Zentrader new account opening form. As of 2020 they are advertising account opening and verification within minutes!
Once you have submitted the registration form, you will then be required to confirm your email address via a link provided (check your SPAM folder if you did not receive this email!)
Payouts, Assets and Time Frames
Payouts of up to 195% are offered on major forex currency pairs. Zentrader also offers trading in a wide variety of other assets such as commodities, indices and stocks. Payouts on these assets range from 170-190%.
Available time frames range from 30 seconds up until end of day. The ultra short term “On Demand” (30sec to 5min) options only have a limited number of assets available. Currently these are: AUD/JPY, AUD/USD, EUR/JPY, EUR/USD, GBP/JPY, NZD/JPY, USD/JPY.
Below we can see how Zen Trader distinguishes between the option trade types. On-Demand option types have the stopwatch emoji, whereas the Classic option types have the calendar emoji next to the time frame.
Zentrader has a good blog article explaining the differences between Classic and On Demand trade types here.
The Zentrader trading platform is offered via web browser, mobile web app and Android. Much thought and research has gone into the design and layout of the platform user interface. If you are used to trading platforms cluttered with buttons and features, you will find this refreshing.
Zentrader offers trading accounts in the following base currencies: USD, EUR, GBP, JPY, IDR
Currently only a simple line chart is available but we hear there are plans to add candlestick and bar charts later in the year. The trade panel on the right side allows for quick selection of investment amount and timeframe.
Open trades display below the chart on the left side, with a tab to view closed trade history. Centre there is a widget displaying current platform sentiment for each asset type and on the right side is streaming news.
As with the website, Zentrader offers English, Japanese and Indonesian languages on the trading platform.
Zentrader also offers access to it’s demo platform. The demo platform includes live data for all assets and conditions are identical to the live platform.
Making depositing and withdrawing from your trading account fast and easy is one area where Zentrader really excels. However, available payment methods will depend on your country of residence. Traders in Japan, Indonesia, Philippines, Malaysia Thailand and Japan are in luck as Zentrader offers fast local bank transfers in these locations.
The below image shows deposit methods available for one type of base currency account.
Due to the large and growing number of payment methods available, it is best you check within your Zentrader Dashboard if you are an existing client. If you haven’t yet joined, we recommend messaging the Zen Trader live chat or emailing support. Be sure to include your country of residence.
Methods available include credit cards (VISA, Mastercard, JCB), local bank transfer (JPY, IDR, THB, GBP, EUR, BRL), Bitcoin, Bitwallet and other e-wallets.
Trust and Regulation
Trust is a very important aspect when trading in financial markets. Your broker is not only responsible for executing your trades, and providing support, they also hold the deposited funds in your trading account. Zentrader is registered and authorised to provide trading services from the Saint Vincent and The Grenadines (SVG).
Whilst SVG as a regulatory jurisdiction is not as well known as Australia, UK or Singapore, an increasing number of major brokers are setting up operations in St Vincent.
Zentrader has a comprehensive account terms and dispute resolution policy. They also have a company wide “no-advice” policy to avoid any broker-client conflict of interest.
Zentrader customer support offers service in English, Japanese and Indonesian around the clock Monday to Friday and 9am to 5pm (UTC +8) on the weekends. Clients can get in contact via email, telephone or live chat.
They also offer the comprehensive Zentrader Help Centre which covers all aspects of signing up, account verification, payments and dispute resolution.
Have you had an experience with Zentrader? Please leave your review and comments in the box below. If you do not yet have a Zentrader account, you can start trading in minutes with just a $50 deposit. GET STARTED TODAY!
Zentrader Online Trading
Payouts, Assets and Time Frames8.8/10
Trust and Regulation7.2/10
- High payouts of up to 195%
- Minimum deposit of $50
- Friendly multilingual support team
- Local payment methods
- USD, GBP, EUR, IDR, JPY accounts available
- Limited assets on shorter term options
- Only short term price charts
- New player. Launched 2019.