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Updated: May 14, 2018
2.266 · 20 REVIEWS
Is this your company?
March 2017:  ZarForex is having issues processing withdrawals.  The FPA recommends extreme caution dealing with this broker.
December 2016:  There is an FPA Traders Court guilty vote against this company.  The FPA recommends caution dealing with ZarForex unless this issue can be resolved.

ZarForex is a forex broker. Zar Forex offers MT4 top forex trading platform. ZarForex.com offers over 60 currency pairs, cfds, indices, oil, gold, and silver for your personal investment and trading options.


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Case IDFiledCase nameVerdict
2016-1942016-11-22MIKE WILSON vs Zarforex.comguilty


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2.266 · 20 REVIEWS
Forex Peace Army

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Johannesburg, South Africa,
Dec 5, 2016,
Registered user

Hi I am from South Africa and have been scammed by a company called ZAR Forex and my account was being traded and managed by a trader by the name of Jean Merignac email address jean.m@zarforex.com . I started my trading account very small at about 400 dollars and eventually made quadruple what i started in until it was eventually run dry and because of this i would not suggest using them s after a period of time it looked like he didnt care about my account and would never get back in contact after mumerous emails.
South Africa,
Nov 15, 2016,
Registered user


Issue escalated to Traders Court MIKE WILSON vs Zarforex.com | GUILTY
I have 2 accounts with ZARFOREX. One is a big account managed by them and the other is a smaller account managed by myself. For the past few days I have been asking them to make contact with me. They do not answer their phone line , do not respond to any emails , sent to every email address listed on their website , and refuse to answer my calls on skype , even though I can see they are " online " at the time.

Three days ago , due to their failure to make any contact with me , I withdrew all power of attorney powers that were given to them to manage my account. Days later , I can still not control my managed account.
I have tried in every manner possible to withdraw my money , from both accounts , yet their online procedure shows " error" all the time. I have emailed them as well notifying them that I would like to withdraw my funds, still no reply.

QUIET SIMPLY PUT : They are no longer interested in talking to me because I would like to withdraw my funds...........Come on ZARFOREX, do the right thing and contact me , for the sake of your brand name.
Click to expand...

Nov 14, 2016 - 1 Star I have been trying to contact ZARFOREX repeatedly for at least a week. I want to withdraw my funds from both accounts. Their online withdrawal process is not working. They refuse to reply to my emails,answer my landline calls or skype calls.
I have tried repeatedly to contact them but they refuse my call. I can see they are online when i skype them and call them.

I just would like someone to advise me how to resolve this issue with ZARFOREX ,AND get my money back.


Mike Wilson
kenji suzuhara,
japan, Japan,
Jul 11, 2016,

this broker is bad.
I can't withdraw my fund.
My profit is about 1million dollar.
And staff of ZAR is no response my mail.
It looks like scam broker.
Willem Erasmus,
Pretoria, South Africa,
Jul 7, 2016,

ZARFOREX SCAMMERS !! ! DO NOT TRUST THESE RUSSIAN SCAMMERS ! THEY MIGHT SHOW YOU this Website as proof "showing their bad laundry". Remember trust is EARNED over long duration of time.

They willl tell you that their competitors wrote the negative reviews.

Trouble will start when you ask for your money back.
Their "Refund" button on website is fake, it is only a email form which returns an error message after pressing submit. This should have been your first warning signal.
I am a real person and you may send me a WhatsApp.com messenger message to my mobile phone +27-78-463-2553, between 08:00am-18:00pm Central European Time, or email me gerasmus@gmail.com, my website is www.egroep.co.za

When I posted scammer alert on their Facebook I got blocked!
They never returned my money, they use fake phone numbers probably some Skype releayed numbers, they have no license to trade, not registered anywhere, many of their website links produce "404 errors".
There are two primary scammers "Paul" and "Alex Morozov" with whom I spoke. They use very generic names for example paul.adams@zarforex.com
These two will be very friendly and promise lots of profits. "Paul" will call you with "Hey buddy" and be very friendly. Offcourse they can have different names.
Nothing about this ZarForex is real.

Scammer "Alex" Skype username is zar.alexmorozov

Lagos, Nigeria,
Jul 1, 2016,

Zarforex is a pure scam website they refuse to process my withdrawal request. And they refuse to answer me while trying to hear from them, they also did not allow me to access my account on their Mt4 trader and Mt4 webtrader. Such a site should be.
Oleksandr Parkhuta,
Lutsk, Ukraine,
Jun 30, 2016,
Registered user

Milano, Italy,
May 31, 2016,

Scammers, they will never give you your profit, instead they will invent excuses to keep them.
ZarForex is on the black list of many autority vigilance as italian autority (CONSOB) e french autority for very good reasons, stay away from them if you want save your money and time.
ehssan elsayd,
alexandria, Egypt,
Apr 24, 2016,

I have to warn every one of trade with zar forex its totally scam they never pay our profits they may got intail money back but profits never pay

if you lose with thim its great if you had profits you got skypee block

I have all proves that tell clearly how much zarfaorex a scammer

Frist thire empolee called ezel tolled me that zarforex offeer 70% bounce and I can got my profits any time

After that I deposit 1100 usd and got 770 usd as bounce

at 10/2/2016 that they deposit and bounce
trading account number 2108909863

They send fake sysec number they send to new clintes

after that I do profits 7000 usd from 10/2/2016 to 4/3/2016
account trun from 11770 to 8876

I ask for wirhdaw part of my profits
They tolled me our terms tell I have to do 192 lot

they tolled me ezell not their any more and I have do 192 lot to got my profits

that skypee chat with thair employee sam grice
frist chat translat from arabic (me:how you chang the agremnt and ask me 192 lot )(sam; its ezell falut we can take it)
sconed chat translat from Arabic tell we have to do 192 lot

That Jean merignac zara manger say i have to do 192 lot to withdraw my profits

ok now lets see zara bounce terms
frist tems says 1000 usd bounce 250 lots to withdraw profits

that mean 770 usd bounce 190 lot
ok but as we see clinte have to sign that to agree that terms
I never sign that terms and if I kenw that tems I would never had open account with that zar forex

sconed bounce terms tell bounce+intaildeposit*10.000 that mean in my condition 1870 usd 187 lots


I send email to forwx peace army at 14/3/2016 and they responed me

then in 16/3/2016 zara forex manger ivan conti tolled me they will got me my inial deposit 1100 and let my bounce and profits to trade 192 lot
and after that I can withdraw my profits

I said ok
Then they had to withdraw 1100 my intail money and keep 7000 usd +770 bonce at my account to trade that 192 lot

I found they zero the account
ivan say its ok I will trun it back
he take his bounce and only return my profits 7000

now I have to do 192 lot at my profits to withdraw my own profits after they take thair 770 usd bounce
vey unfair

I asked an email with lot they asked me to do
28/3/2016 they send that email

I did 196 lot fighting all market maker programs thay have and had left in my account 4977 usd

start asking for withdraw my 4977 usd I did all lots they asked for

frist both mangers ivan conti and Jean merignac blocked me at skypee

when I start sending email to them Jean merignac responed you have to do 1250 lot

they are scammers to the bones

then after I asked a lot through emails and chat withdraw my money
one of their empolee called hossam rafik tolled me they will pay as 2500$ on a day 8-4-2016,and 2500$ on a day 11-4-2016,and after both transfers complete I do not have any complains

and ask me to send email by that I said ok

I waited to have my money every day they have say we will pay soon







2 weeks now they say pay in progris my trading account number 2108909863

I have all my words with proves and I will not let my money go
I come to fpa because I know you are clints gaurde and you get that zar forex 4 stars
And to tell every one run away from that zar forex scammers
Tambov, Russian Federation,
Apr 8, 2016,

Tell me where to go and give feedback to zarfx noticed and returned the money? crooks !!!! I was the second time began to trade, for the first time by Yuri (with which I started in November 2015 the amount was $ 145, a profit was minimal), it put me in touch with his boss he said Cyril, all arranged for you, just nice people, the attention not was the limit, stories about the market, earnings, and so on. I invested 2m. Cyril did a week on the balance sheet already 3t. and questions started about how I can still invest because you can make good money, I am now about Pts sorry but okay. in general, I threw another 6.5 t 9.5t balance. are my 8.5t, positions opened on I call it, in the beginning it was all the rules, and then Kirill said there is a possibility as a trust and I gave him the password on the platform it was already mid-December, the balance grew about about 10.7t. was then the New Year holidays and 06/01/16 I started to call Cyril, he did not go to the link, I got through to Yuri which started trading, he said that they, too, find it can not, the phone does not take, so he often flies on business abroad possible there. And in the evening 12.01.16 Yuri calls and says that the balance of my (-2.5t.), We will find out, and so on. I went to the platform and saw that all positions are closed (there were about 12) in between a couple of seconds, and the amount of items was 3.4, some opened and closed after a few seconds with a minus. I changed the password on the platform. As Yuri said that they and the security department found that the position is closed with a PC Cyril, in the hospital, that he used drugs but they are the type known as a trader it is well done, and the work is not affected ..... said Yuri. Began calls security department Elena (do not worry, we shall understand, and so on.) Yuri said that zarfx will take him to court to file because he brought them losses and clients .. (as I think now, that on the contrary Kirill made a profit since the company earns customer losses !!). No one from the leadership of zarfx authorities did not call. Time passed, peace was not, then Yuri says that the only thing he can do is for me to make the sum of my platform that I bring and start trading with it on trust management, earnings halve, and the money I lost by June we return and all will be well ... and -2.5t who were on the balance he would try to reach an agreement that would be written off. Indeed, it was such a terrible situation nol.V couple of days on the balance I would like not myself, I do not know that I was bribed attitude probably well and hope to return the lost money. In general, I have made 2950 dollars and Yuri in 2950 (but its funds were registered either as a balance on the platform, as well as a loan, I asked, why so the answer - because on the other does not pass the security department) what type our total amount of 5900, and profits will be more .. then I kunul another 350 dollars as Yuri said, an urgent need, there Pts good position. Then a few days later in the game include Max, introduced the chief Yuri (Again, all on thumb scheme, positive, talk about fell sick, and so on.) Maxim said it is working with large sums of 100 thousand, and so on. but in my situation with Cyril he is willing to help, and as soon as my hand goes to the platform $ 1,150 he would take me to her. Like he has a program (robot) bought for large sums of money which he opens and closes the position. I made my account and 4450 USD, 2950 George and hung as a loan. Make the same amount Yuri could not, said a hundred yet, and so he had 88 million dollars and it is in the case of the empty. Called every day, and Yuri and Max (a weekend, how are you doing at work and so on.) The platform was all good profit was $ 5,000. But in the week of March 14-18, Yuri said that to them in the office came a big man Ruslan Grishin (on prezintatsiyu EPL in Moscow) and to work with him the dream of all traders and chance can not be missed, supposedly look finance can earn big. Then he put me in touch with Grishin by phone, exact same scheme (as a business, as a business, and so on.), In general there was no money and I do not what is not made. Yuri says Grishin upset, but will give us profitable positions with Yuri, because he knows about the situation with Cyril. Maxim did not take to him, worked with Yuri, but said that the robot connected and it works. So 23/03/16 Yuri opens positions, the ones who gave Grishin, positions 9, but the amount they put it 3, where the general 4. To our sums on the balance of $ 10,000 is too much for 2-4 days and the positions we were -5000 dollars, Yuri says all the rules for suspending, everything will be ok. I would bring 4450 dollars are invested, but when open positions can not bring it ... then again -80,000 -5000 dollars, and that's 04/01/16 at 15.47 calls Elena and says that the balance of -3000 dollars, Yuri is not available, it will understand, and if that phone call to help. The platform 8 positions closed at 15.29 that is, with an interval of 4 seconds, starting from the most unprofitable. And in the afternoon at 12 and 13 hours, someone opened and closed positions. Before I phoned George on Skype at 16.00 he says that at the funeral and he closed positions. I knew the password and Yuri. Monday 04.04.16 find out and call since his 2950 dollars there. As a result, what we have I -12972.79 dollars, to communicate who does not go out, it's not available on the site zarfx of online communication with the operator says that necessarily will contact your trader. My account number 2108908319.

That's what was on the trading platform on the 04.01.16 04.05.16
 Credit Balance -3178.71 -228.71 2950 Tools

05.04.16 again someone has worked, I began to cover his tracks at 20:07 on my trading platform.

Again, strange things do zarfx 5.04.16 starting at 20:07 and ending 20:08
- 20:07:57 loan of zeroing -pribyl $ 250
- 20: 08: 06- 20:08:14 open position (zero) -pribyl 3178.71 dollars
(It was -3178.71 dollars on the balance sheet at 5.04 to 1.04)
-20: 08: 28 from credit obnuleniya- profit -250 dollars
- 20:08:41 loan from -pribyl -2950 dollars (this amount invested Yuri)
As a result, the balance of 0 means 0, 0 free margin.
Somehow miraculously -12972.79 profit from a couple of seconds turned into
 -9794.08 Dollars. And for the entire trading period profit -13 270 dollars.
Address zarforeks office in Moscow do not speak, hiding noverno from people who cheat.
Where to go, that would be brought back at least something? sites with good reputations that would leave reviews about zarforeks? my mail viktor.timonin.90@mail.ru
Alex Troyanskiy,
London, United Kingdom,
Mar 21, 2016,

Dear PRIVATE CLIENT INFORMATION REMOVED from Minsk, Belarus, who hides under the nickname “Alex”. Your sayings about Zar FX company are totally incorrect and don’t refer to reality. You placed on your Zar FX account (2108907145) 2500$ and attempted to make withdrawal your funds with bonus. But it is not common without making trading operations, which were negotiated due our client agreement and Zar FX regulations about granting bonuses.
When you failed your attempt to withdrawal bonuses without performing specific requests, so you have started to blackmail us by reputational loses due your intended to demonize actions. After our refusing to submit your demands, you have applied to withdrawal of your deposit. This request was fulfilled after Christmas holidays. Your replies about “addressing to our partners” are totally incorrect because we didn’t get any requests from them.
As a proof of these words, here is a screen of your correspondence with head of our support department Alexander Soros:
http: //rghost.ru/8rlHcghMD.view
http: //rghost.ru/755frVmyl
Dear members of this community! We are working with all requests, claims and offers, which we receive with some time. Requests, which are, go according our regulation and agreements are fulfilled without any discussions.
But we do not allow groundless accusations, especially when client attempts to violate agreements and make damage to our company.
Best regards.
Alexey Troyanskiy. Public Relations desk of Zar FX.

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