Is Zenith a scam?

• Brand: Zenith, trading as Zenith Wealthex
• Legal entity: Zenith Wealthex Global Limited, UK company 12522271, incorporated 17 March 2020, dissolved 23 August 2022. A second company of the same name existed in Canada, federal corporation 1204296-7, incorporated 5 May 2020 and dissolved 17 November 2023.
• Registered: 50 Grosvenor Hill, Mayfair, London W1K 3QT, a serviced office address. The Canadian entity used 4300 Steeles Avenue, Markham, Ontario.
• Website: zenithwealthex.com, which no longer resolves
• Only licence: none. No forex licence was ever held. The two credentials advertised were an NFA number with no register entry and a lapsed Canadian anti-money-laundering registration.
• Offers: forex on MetaTrader 5, floating spreads, minimum deposit around 100 US dollars, card and wire funding
• Not accepted: marketing was aimed at Chinese-speaking clients; no public restricted-country list was published
• Age claim: the site described itself as founded in New York. Both of its companies were in fact incorporated in 2020, in London and Ontario.

Two of the three things this broker told clients about its regulation do not survive a look at the registers themselves.

• The US registration does not exist. We searched the NFA's BASIC register by the exact number advertised, 0530061, and by firm name in two forms. All three searches returned zero results, and the register states plainly that this means a firm that is not and has not been registered with the CFTC. A number that resolves to nobody is a fabricated credential, not a clerical slip.
• The Canadian registration was real, but it was never what it was presented as. FINTRAC's own register carries entry M20768391 in the exact name Zenith Wealthex Global Limited. It authorises virtual currency services, not foreign exchange dealing, and it has carried the status Ceased since 1 June 2021. FINTRAC also states that registering does not mean it licenses or endorses a business. Presenting that as regulatory cover for a forex brokerage misrepresents both its scope and its standing.
• The UK company declared it was doing no business at all. Companies House shows dormant company accounts made up to 31 March 2021. Over that same window clients were describing deposits and blocked withdrawals. A dormant filing and a live cashier cannot both be true.
• Clients reported money not coming back. Three fund-integrity accounts from December 2020 to May 2021 describe the same failure: a withdrawal deducted from the MetaTrader 5 balance but never received, and in one case a 20,000 US dollar deposit where positions could not be closed and the remaining balance could not be withdrawn. The detail is specific and the mechanism is consistent, though these accounts sit on a single platform, so we treat the pattern as credible rather than confirmed.
• The operation has since disappeared. The UK company was struck off in August 2022 and the Canadian one dissolved for non-compliance in November 2023. The domain has been deleted and does not resolve.

No regulator has published a warning naming this domain or this entity, so we stop short of calling it confirmed. Several unrelated firms trade on the Zenith name and some of them do carry FCA warnings. Those are different businesses and none of their history is counted here.

One note on dates. The corporate record runs from March 2020, so on paper the track record is around six years, but the trading life was far shorter. The evidence points to an operation that solicited deposits for roughly a year and a half before its credentials lapsed and its companies were wound up.