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Anzo Capital Review


Anzo Capital is an STP and ECN broker regulated by the IFSC and located in Belize. This FX broker was established in 2015 and began accepting clients in 2016. While the are not among the oldest brokers in the industry, they have had at least two years of successful operation to their credit. Anzo Capital places a strong emphasis on minimizing their client’s overall risk, which is something we can all stand behind. However, is this a promise that they live up to? Keep reading to find out everything you’ll need to know when considering this broker as an option.

Account Types

When signing up for an account with Anzo Capital, you’ll have two options: STP, or ECN. Similarities come in the form of the same leverage options, floating spreads, the same minimum lot sizes and trade sizes, and the same margin call and stop out levels. When it comes time to compare differences, you’ll be looking at different deposit minimums, commission fees or lack of them, spreads,  swap-free options, and whether you will have a dedicated 24/5 account manager. Take a look below to compare some of the basic information for both types of accounts.

 STP Account

  • Minimum Deposit: Above $100
  • Leverage: Up to 1:500
  • Commissions: None
  • Islamic Accounts: Yes

ECN Account

  • Minimum Deposit: Above $500
  • Leverage: Up to 1:500
  • Commissions: $7USD/lot RT
  • Islamic Accounts: No

There is a pretty significant minimum deposit difference. For traders that have more than $500, this won’t be something to think twice about, but for those that don’t have such a large amount of funds, options will be limited to the STP account type. Spreads on the ECN account are much lower, but you will find yourself paying commissions on this account type. Swap-free Islamic accounts are available, but this is only available for the STP account type. Also, these accounts are meant for those with religious reasons, so you won’t be able to open a swap-free account unless you qualify.


Like many other Forex brokers, Anzo Capital has decided to stick with the MetaTrader4 platform, which has everything a trader could possibly need. In case you’re one of the few that hasn’t heard about MT4, allow us to explain why this is such a great choice. MT4 has a user-friendly interface and is easy to navigate. It comes with advanced charting tools, allows the use of Expert Advisors, and the interface is customizable. Another thing that makes MT4 so popular is how accessible it is. First, the platform can be downloaded directly from the website.

Users can also access the WebTrader from their browser without having to install anything on their computers. For trading on the go, MT4 can be downloaded via the App store for Iphone/Ipad and Google Play for Android or tablets. MT4 MultiTerminal is also available, which allows traders to connect up to 128 accounts for easy and convenient management. MT4 provides such a wide variety of tools, customization options, and accessibility options that traders shouldn’t feel as if they are missing anything here.


Both account types offer leverage up to 1:500, which is very competitive. However, like with many other brokers, there are some conditions that affect exactly how high of a leverage can be chosen. With Anzo Capital, this comes down to the equity amount in your account. For example, if you’d like to use the highest leverage, you’ll need to have an equity that is less than $100,000 USD. If your equity is above $500,000 USD, the maximum leverage you’ll be able to use is 1:100.

As you may have noticed, the higher one’s account balance is, the lower the leverage options will be. This really goes with the company’s statement that they wish to limit their client’s risks. Most traders prefer leverage lower than 1:500 and the majority would not have more than $500,000 sitting in their trading account, so most clients will have access to the higher leverage options with no problem. However, it seems than Anzo would like to limit the possible losses for those that do have hundreds of thousands in their accounts.

Trade Sizes

Trade sizes and stop out levels are the same for both account types, so there’s no need to compare here. The minimum trade size is one micro lot, or 0.01. It’s great to see that micro lots are allowed and you won’t find lower options elsewhere. When it comes to the maximum trade sizes, it is listed at 50 lots. This is also impressive. The margin call level is 80%. In case you aren’t aware, the margin call is set in place to alert traders before they reach the stop loss levels. With Anzo capital, falling below the 80% margin level will result in a warning email. At this point, the broker would advise you to deposit more funds, so as to avoid the stop out level. If your account does hit the stop loss level, your positions would begin to be closed automatically so as to stop your account from going into the negative. This is something that is put into place with every Forex broker, so you’ll always want to check and be aware of these levels regardless of which broker you choose.

Trading Costs

When choosing a broker, you’ll always want to take trading costs into consideration, since higher costs can seriously cut into your profits. Like all Forex brokers, Anzo Capital does have to profit somewhere, and they do so through commission charges, swap fees, and spreads. If you’ve chosen the STP account, you actually won’t have to pay any commissions, which makes this account type more attractive when looking at costs. On the other hand, commissions will be charged at $7USD/lot RT if you’re operating from an ECN account. However, this account type will come with much lower spreads, which evens out the charges.

Swaps are charged when positions are held overnight. To be specific, swaps are charged on Wednesdays; therefore the interest applied on Wednesday will be for three days of rollover interest. The swap fees do vary by asset but you can view the swap fees under the ‘Products’ page on the website. We mentioned swap-free accounts earlier, but just to recap, Islamic swap-free accounts are available for the STP account type, so long as it is for religious reasons. Finally, traders will want to keep spreads, or the difference between the bid and ask price, in mind when calculating trading charges. We will mention that spreads are much better on ECN accounts but more information will be provided on that later.


Anzo Capital offers 45 currency pairs, CFDs on precious metals like gold and silver, commodities, and 11 indices. This list does include some lavish options, like the Mexican Peso, Singapore Dollar, and more. We are also happy to report that cryptocurrencies are included as well with options being Bitcoin, Litecoin, Ripple, and Ethereum. In reality, with spot metals, cash CFDs, cryptos, and more being offered, we found the amount of asset offerings with this broker to be on the higher side of things.


On the account page, the most information you’ll find on spreads is the fact that they are floating for both types of accounts. However, more information can be found under the ‘Products’ pages. Keep in mind that spreads are variable, but Anzo Capital did provide some examples of the differences in spreads for the two account types. For example, the spread for AUD/CAD was listed at 2.5 on the STP account, but listed at only 0.6 on the ECN account. On AUD/JPY, the spread was 2.3 on the STP account, but only 0.4 for the ECN account. As you can tell, the spreads on the ECN account are much lower, so this account type really proves to be the better option when it comes time to compare spreads. However, do remember that the ECN account charges commission fees, where the STP account does not.

Minimum Deposit

The smallest minimum deposit amount is above $100 with the STP account. This could be considered an average deposit since we see this amount often. However, many brokers do offer at least one account type with a lower deposit, usually around $10 or so. We like to see lower options like these because it could make the decision to begin trading much less intimidating for beginners. With the ECN account, the deposit minimum is above $500. Once again, this is average for this type of account. With many other brokers, some account types require deposits in the thousands, so this is better than those options if you’re comparing. Still, every trader won’t have access to such a larger amount of funds, which means some may be limited to only one account type.

Deposit Methods & Costs

The available deposit methods are: Wire Transfer, Visa/MasterCard, WebMoney, Skrill, Neteller, UnionPay, FasaPay, Qiwi, Yandex, Bitwallet, Alfaclick, and deposits via online bank transfer, including GTBank, DusuPay, Dotpay, and DragonPay. Most of the deposits are processed immediately, with the exception of wire transfer, which has a 2-5 business day processing time and GTBank, which is processed between 8 and 12 am on business days. Another positive to go with the fast processing times is the fact that all deposits are fee free. You may be able to find some fee free options with other brokers, but you won’t often find that all methods are fee free, especially not the most popular ones.  This can also make it much simpler to compare deposit methods, since one really only has to look at processing times.

Withdrawal Methods & Costs

Traders will be happy to know that all of the withdrawal methods, with the exception of wire transfer, are fee free. This is really rare, especially when coupled with the fee free deposit options. If you do wish to deposit via wire transfer, we won’t be able to tell you the exact fees, since they differ for each bank. However, you should have no issue checking these charges with your personal bank. Withdrawals are available via wire transfer, Visa/MasterCard, WebMoney, Skrill, Neteller, Fasapay, QIWI, Yandex, Bitwallet, and online banking via online bank transfer, GTBank, DusuPay, Dotpay, and DragonPay.

Withdrawal Processing & Wait Time

Withdrawals are processed within one of three different time frames, depending on the method. For the majority of the methods, processing time is 9am – 6:30pm (GMT+8) (Monday-Friday). The exceptions are wire transfer and DragonPay. For wire transfer, the processing time can be 2-5 business days. With DragonPay, any request received before 12pm will be processed the same business day. You’ll find that all of these options are quick, especially considering that withdrawals can be processed the same day. With many other brokers, withdrawals can take up to 48 hours to be processed and you’ll find yourself waiting even longer for wire transfers. If you need your withdrawal quickly, you won’t have to make the request far in advance. Another plus is the fact that we found several comments in other reviews where clients mentioned that they did indeed receive their withdrawals within the same day, so this is something that can be backed up with proof.

Bonuses & Promotions

Anzo Capital is currently offering two promotions: Be the 1st to Redeem $50 Cash Rebates and Share With Your Bestie & Get Rewarded Today. The $50 Cash Rebate promotion is only available to clients that have no previous trading or deposits/withdrawals on their account. In order to receive the $50 credit, you must deposit at least $500 USD on an ECN account, or $200 USD for an STP account. If you meet all of the qualifications, you must email support to receive credit before placing your first trade; otherwise you will no longer be able to claim the bonus. Moving on, we will cover the referral program. Basically, your friend would need to sign up under your referral link and deposit at least $500 USD. Both you and your referral can receive a bonus, so this is a good opportunity, so long as your referral is able to meet the deposit requirement. Both promotions, along with more specific conditions can be found under ‘Promos’ on the website.

Educational & Trading Tools

Anzo Capital has dedicated an entire section of their website to research and tools. When it comes to education, traders will be able to find comprehensive guides on trading Forex, including beginner guides, intermediate guides which explain chart patterns, and advanced guides which are focused on candlesticks. In addition to these guides, video tutorials are also available. These lessons explain what Forex is and go further into detail about how things work in the Forex market. Every trader starts off with questions when making the decision to trade Forex, so we were more than happy to find so many educational opportunities.

When it comes to trading tools, this broker also has a lot to offer.  Traders will find a Global Trade Center which includes daily insights, an economic calendar, forex calculators, featured podcasts, webinars, VPS, MQL5 signals, and Myfxbook AutoTrade. These are only the tools available on the website, so do keep in mind that even more tools are built into the MT4 platform. Finally, Anzo offers news, including announcements and company news on their website. It is important to stay updated on any company changes or news that may affect you, so it’s great to see that this is so easily accessible via the website.

Customer Service

Support can be reached via LiveChat (Monday through Friday) and email. The email system offers something we haven’t seen before, since you’ll be able to view all of your previous and open tickets from the webpage. You’ll also have the ability to create a new support ticket directly on the website. This could make email communication easier, since you won’t have to log into your email to check for responses from support. You can also expect a response within 2 hours on working days, which is a quick response time for email.

LiveChat is also a great option. When we tested it, we were connected with an agent instantly and all of our questions were answered in less than 5 minutes, so this will forever be one of the best contact methods, in our opinion.  Unfortunately, what we’re missing from contact options are direct phone numbers. This isn’t something you’ll find with every broker but it is something you’ll find often. We feel that phone can be the best option for any confusing situations, since it is much easier to get things across via communication. Still, the customer support options are good; we just missed the ability to make a quick and direct phone call.

Demo Account

Traders will often find the option to open demo accounts with Forex brokers, and Anzo Capital is no exception. However, there was one condition we weren’t happy about – the fact that the demo is available for free for 30 days only. This made us curious as to whether a trader would be charged for the demo after the 30 day period, so we decided to go through the sign up process to check if we would be asked for payment information. Note that options when choosing the demo included the choice between STP/ECN accounts, a deposit amount of up to $100,000, and leverage up to 1:500. Fortunately, we were not asked for any payment information and we received our login details quickly. It simply seems that this broker has decided to put a time limit on the demo account, possibly because they feel that traders will have moved on to live accounts by the time that the time period is up. Overall, we were happy to see this option and that the options are flexible, but we wish there was no time period on the demo accounts, since some traders may not be finished practicing when their time runs out.

Countries Accepted

We received some contradicting information when trying to figure out if this broker allowed United States citizens. While out LiveChat agent informed us that those in the US are not allowed to open accounts and the same was written on the FAQ page, we weren’t too certain, so we tried opening an account ourselves. We were surprised to see that we had no issues choosing United States from the drop down list after selecting ‘International’ as our region. Our account was created and we received an email to use in order to verify the account. However, we didn’t get as far as the documentation step. It’s possible that there may be issues with providing documents from the U.S., but we doubt it. Since we were able to make it so far in the verification process after entering an exact country and state, it’s pretty safe to say that Anzo is accepting U.S. clients, at least for the time being.


One of the best advantages to choosing this broker is the variety of fee free deposit and withdrawal methods. While you may see some fee free options with other brokers, it is rare to find this with all options, especially Visa/MasterCard. Since processing times for all methods, aside from wire transfer, are very quick, it also makes it much easier to choose a suitable funding method. Another thing we noticed was the fact that STP accounts are commission free with higher spreads, while ECN accounts do have commission fees, but come with very competitive spreads. When it comes to leverages, Anzo is offering very competitive options, which only decrease if you have a large amount of funds in your account.

Of course, every broker has drawbacks, so let us point out some of the things that weighed negatively on our opinion. For starters, Anzo could have offered a lower minimum deposit amount for at least one account. Also, there are no phone numbers listed on the contacts page, which could be frustrating if you want to talk to someone over the phone. Demo accounts expire after 30 days, which we felt was unnecessary, and swap fees are charged unless you have an Islamic account. However, users will have the ability to trade on the widely popular and accessible MT4 platform, which enhances the trading experience. Anzo also offers good trade sizes and has lots to offer in the ways of assets, education, and tools.

Finally, there are some bonuses available, although higher deposits are required to qualify, so they may be out of reach. When it comes down to it, one of the biggest drawbacks is the higher spreads on STP accounts. You can avoid this by choosing an ECN account, so long as you’re able to make the $500 deposit requirement. In our opinion, there were a lot of good things about this broker, but it really comes down to whether you feel that the positives outweigh the negatives.


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