Company Background

Established in 2015, Anzo Capital is a privately owned forex and CFD broker offering STP and ECN trading accounts. The group operates through several entities, including a Kenyan company regulated by the Capital Markets Authority under license number 219 and an international company registered in Saint Vincent and the Grenadines under number 308 LLC 2020. During our entity review, we found that client protection depends on the company named in the account agreement, as the Kenyan license does not cover accounts opened under the SVG entity.

Available Countries

Anzo Capital accepts traders from parts of Asia, Africa, Latin America, and other international markets. However, it restricts clients from several jurisdictions, including Australia, Iran, Japan, Russia, Turkey, North Korea, Syria, and US territories. Availability depends on the operating entity, payment method, and account registration details.

Trading Fees

The STP account includes trading costs in the spread and charges no separate forex commission. The ECN account uses tighter floating spreads and charges $4 per standard lot round turn, equal to $2 per side. Our cost check found the ECN structure more suitable for scalping and automated strategies.

Spreads and Commissions

STP spreads average about 1.2 to 1.4 pips on EUR/USD and around 1.5 pips on GBP/USD. ECN spreads average about 0.0 to 0.2 pips on EUR/USD and around 0.3 pips on GBP/USD, plus the $4 round-turn commission. Our wider test set recorded 0.71 pips on EUR/USD, 2.08 pips on GBP/USD, 7.3 points on gold, and 50.39 points on the S&P 500 CFD.

Deposit and Withdrawal Fees

Anzo Capital does not charge an internal deposit fee. Bank and correspondent charges can apply to wire deposits below $3,000, while international wire withdrawals may also carry bank costs. A 5% penalty applies when deposited funds are withdrawn without trading.

Inactivity and Account Fees

Anzo Capital charges $15 per month after 90 consecutive calendar days without trading or transfer activity. Free VPS access is also conditional and requires a $5,000 balance plus at least five lots of monthly trading.

Bonus and Promotions

The broker offers periodic 20% deposit bonuses, loyalty rewards, and regional trading contests. Bonus credit serves as margin support and cannot be withdrawn directly until the stated lot requirements are completed. Promotion availability depends on the client entity and country.

Currency Conversion Fees

Anzo Capital does not list a separate internal currency conversion fee, but conversion can still occur when the deposit currency, account currency, and traded instrument currency do not match. The main base currencies are USD and EUR.

Overnight and Swap Fees

Standard overnight swap charges apply when positions remain open after the daily rollover. Swap-free access is available on request for eligible STP and ECN accounts, but instrument holding administration fees can replace standard swaps.

STP Account

The STP account requires a $100 minimum deposit, starts from 0.01 lot, and charges no separate forex commission. It uses floating spreads and can provide leverage up to 1:1000 on eligible major currency pairs when account equity is below $5,000.

ECN Account

The ECN account also requires $100 and supports positions from 0.01 lot. Raw spreads start from 0.0 pips and the commission is $4 per standard lot round turn, making this the stronger Anzo Capital account for scalpers, Expert Advisor users, and high-volume traders.

Social Trading Account

The social trading options support copy trading and Myfxbook AutoTrade. It requires a $1,000 balance and adds a $12 per lot markup. Followers should compare the provider's drawdown, fees, and trade frequency before allocating funds.

Demo and Islamic Accounts

Demo accounts provide virtual funds for testing MT4, MT5, order types, and Expert Advisors. Islamic access is available on request for eligible STP and ECN clients, although holding administration fees may replace swaps on selected instruments.

Signup Process

Registration is completed online by entering personal details, choosing MT4 or MT5, selecting an account type, and completing the financial profile. During our account review, the most important step was checking the legal entity shown in the client agreement before funding the account.

Verification Requirements

Know Your Customer verification requires a valid passport, identity card, or driving license and a recent proof of address. The payment account should use the same legal name because third-party deposits can be rejected or delayed.

Minimum Deposit

Standard STP and ECN accounts require $100. Copy trading through Myfxbook AutoTrade requires a $1,000 balance, while individual payment methods may set their own minimum transaction amounts.

How Long Account Approval Takes

Anzo Capital does not publish one guaranteed approval time for every jurisdiction. A complete online application can be processed quickly, while blurred documents, expired identification, or mismatched addresses can extend the review.

Forex Pairs

The broker offers major, minor, and selected exotic currency pairs with a minimum trade size of 0.01 lot. Hedging, scalping, and news trading are allowed. Leverage reaches 1:1000 on eligible major forex pairs below $5,000 equity.

Indices

Anzo Capital offers CFDs on major global indices. Index leverage is lower than the maximum forex level, and trading costs vary by session and volatility. Our test set recorded an average S&P 500 CFD spread of 50.39 points.

Commodities

The commodity range covers precious metals and energy products, including gold, silver, and major oil contracts. Spreads can widen around market openings, inventory reports, and major central bank announcements.

Stocks

Stock CFDs provide leveraged price exposure without ownership of the underlying shares. US stock CFDs carry a stated $0.06 per-share round-turn commission, while Hong Kong stock CFDs charge 0.25% of trade value at entry.

Cryptocurrencies

Anzo Capital supports stablecoin funding through methods such as USDT, but it does not provide a broad cryptocurrency CFD range. Traders seeking extensive Bitcoin, Ether, or altcoin markets should use a dedicated crypto or multi-asset broker.

Leverage and Margin Limits

Maximum leverage is 1:1000 on eligible major forex pairs below $5,000 equity. The cap falls to 1:500 between $5,000 and $50,000 and continues decreasing as equity grows, reaching 1:100 above $250,000. The margin call level is 80% and the stop-out level is 50%.

MetaTrader 4

MT4 is available on desktop, web, iOS, and Android. It supports market orders, Buy Limit, Sell Limit, Buy Stop, Sell Stop, Stop Loss, Take Profit, one-click trading, custom indicators, and MQL4 Expert Advisors.

During our platform check, MT4 was the better option for traders who already use MQL4 tools. Its main limitation is the older architecture and smaller pending-order range compared with MT5.

MetaTrader 5

MT5 adds 21 timeframes, more than 80 indicators and analytical objects, depth of market, and a multi-threaded strategy tester. It supports market orders, limit orders, stop orders, Buy Stop Limit, Sell Stop Limit, Stop Loss, and Take Profit.

Our test found MT5 more suitable for multi-asset monitoring and detailed order control. MT4 remains useful when a strategy depends on an MT4-only Expert Advisor or indicator.

MetaTrader WebTrader

The browser versions of MT4 and MT5 provide market and pending orders without software installation. WebTrader is useful for monitoring and manual trade management, but it does not offer the full automation and testing environment of the desktop terminals.

Anzo Capital App

The proprietary iOS and Android app provides account management, deposits, withdrawals, live market data, TradingView-based charts, and mobile order placement. It supports market, limit, and stop instructions, but serious automation still requires MetaTrader.

Research and Charting Tools

Research tools include market analysis, insights, an economic calendar, platform indicators, and TradingView-based mobile charts. The package covers routine retail analysis but lacks the deeper fundamental databases and institutional research tools offered by larger brokers.

Educational Resources

Anzo Capital provides a blog, platform guides, and introductory forex articles. The material is useful for basic account and trading topics, but it does not form a complete beginner course with regular webinars, structured modules, and detailed assessments.

Payment Methods

Funding options include bank wire, Visa, Mastercard, Skrill, Neteller, and USDT, subject to country availability. Deposits are free from the broker's side, but bank charges can apply to wires below $3,000. Withdrawals normally return through the original verified method.

Deposit Times

E-wallet deposits are normally credited within 30 minutes, while bank wire deposits take one to four business days. Card and crypto timing depends on processor approval and network confirmation.

Withdrawal Times

E-wallet withdrawals take about one hour to the next business day. Bank wire withdrawals normally require one to four business days, with additional delays possible at intermediary or receiving banks.

Withdrawal Limits

Minimum and maximum withdrawals depend on the payment method and are displayed in the client portal. A 5% penalty applies when deposited funds are withdrawn without trading, while bank, provider, network, and conversion costs may reduce the final amount received.

Support Channels

Support is available through live chat and email at [email protected]. The lack of a clearly published general phone support line limits escalation options for urgent funding or platform issues.

Response Times

During our test, live chat responded in about two minutes, and email replied in about two hours. Support operates Monday through Friday from 07:30 GMT+8 until 02:00 the following day.

Support Quality

The live chat agent answered basic account questions but did not fully address our more detailed query. The response was fast, yet the information lacked the clarity expected for a financial service dealing with regulation and withdrawals.

Languages Available

The website supports English, Chinese, Traditional Chinese, and Korean. Customer support is available in English, Chinese, Thai, and Vietnamese, depending on staff coverage.

Positive User Reviews

Positive feedback commonly mentions smooth trade execution, responsive account managers, and convenient deposits and withdrawals.

"Trade execution is smooth, customer support is great."

Other positive comments focus on the MetaTrader trading experience and straightforward account funding.

Negative User Reviews

Negative feedback mainly concerns withdrawal delays, additional verification checks, and support agents who do not always provide complete answers.

"Unfortunately the agent didn't answer my question."

These complaints do not show that every client will experience the same issues, but they highlight areas where Anzo Capital's service can become less efficient.

Common Anzo Capital Complaints

• Withdrawals can take longer when additional payment or identity checks are required.
• Some users report incomplete answers when contacting customer support.
• Verification can delay withdrawals when account and payment details do not match.
• Anzo Capital could make its inactivity fee, bonus conditions, and 5% no-trading withdrawal charge clearer before clients fund an account.

Trustpilot and App Store Ratings

Verification Issues

Verification problems can occur when identification is expired, uploaded images are unclear, addresses do not match, or the payment account is held under a different name. Completing KYC before funding the account can reduce withdrawal delays.

Platform Problems

Reported platform issues include login problems, connection interruptions, spread widening, and slippage during volatile markets. These conditions can have a greater effect on scalpers, news traders, and automated strategies.

Best Alternative for Beginners

XM is the stronger beginner alternative for traders who want more structured education, beginner-focused learning tools, and a simpler route into forex and CFD trading. Anzo Capital is better suited to traders who already understand MetaTrader, leverage, and ECN pricing.

The choice is mainly about guidance versus trading flexibility. XM gives new traders more learning support, while Anzo Capital focuses more heavily on MT4, MT5, Expert Advisors, and higher-leverage trading.

Best Alternative for Low Fees

FXGlory is the stronger low-fee alternative for traders who want more control over how trading costs are structured. It offers fixed and floating spread accounts, swap and swap-free options, and commission-free account choices.

Anzo Capital is stronger for traders specifically looking for raw ECN pricing with a $4 per lot round-turn commission. FXGlory is more flexible for traders who want to choose between spread types, avoid separate trading commissions, or use a swap-free setup.

Best Alternative for Advanced Traders

Pepperstone is the stronger alternative for advanced traders who want broader platform choice, stronger regulatory coverage, and more professional trading integrations. Its platform lineup includes MT4, MT5, cTrader, TradingView, and its proprietary trading platform.

Anzo Capital still fits experienced forex traders who prioritize MetaTrader, Expert Advisors, FIX API access, and leverage up to 1:1000. Pepperstone is stronger when platform depth and regulatory coverage matter more than maximum leverage.

Best Alternative for Forex or CFD Trading

IC Markets is the stronger forex and CFD alternative for traders who want a broader market range, established raw-spread pricing, and more platform choices. It is particularly suited to scalpers, algorithmic traders, and high-volume forex users.

Anzo Capital has the advantage of a lower $4 per lot round-turn ECN commission and higher leverage on eligible accounts. IC Markets is stronger for traders who prioritize broader CFD coverage and a more developed multi-platform trading environment.

Anzo Capital for Beginners

The demo account, STP pricing, and mobile access are useful, but the $100 minimum deposit, limited education, and leverage up to 1:1000 make Anzo Capital better suited to traders who already understand margin and risk management.

Anzo Capital for Day Trading

Day traders benefit from the ECN account, $4 round-turn commission, 0.01 lot minimum, MetaTrader automation, and support for scalping and news trading. Spread expansion and slippage remain important during volatile sessions.

Anzo Capital for Forex Trading

Forex is the broker's strongest area. STP and ECN pricing, MT4, MT5, Expert Advisors, FIX API support, and dynamic leverage provide a flexible environment for manual and automated currency strategies.

Anzo Capital for Long-Term Investors

Anzo Capital is not designed for long-term investing because its stock products are CFDs, overnight financing can accumulate, and the broker does not provide broad access to real shares, ETFs, bonds, or retirement accounts.

Anzo Capital for Crypto Trading

Crypto funding is available through stablecoins such as USDT, but the broker does not offer a broad crypto CFD selection. Traders seeking extensive digital asset markets should use a specialist crypto platform or a broader multi-asset broker.

Licensing and Regulation

Anzo Capital Limited in Kenya is authorized by the Capital Markets Authority under license number 219. International clients may instead be contracted with Anzo Capital SVG LLC, registered in Saint Vincent and the Grenadines under number 308 LLC 2020. An ordinary SVG company registration does not provide the same protection as a strong retail forex license.

Security Features

Anzo Capital requires identity verification and applies payment verification checks to deposits and withdrawals. These controls reduce operational risk but do not replace strong regulation or statutory compensation protection.

Investor Protection

The international entity does not provide a government investor compensation scheme. Traders therefore rely on the broker's internal controls, segregation practices, and financial condition if the company becomes unable to return client money.

Negative Balance Protection

Negative balance protection is available for eligible retail accounts and is intended to prevent the account from owing more than the deposited funds after extreme market movement. It does not prevent the full account balance from being lost.

Segregated Client Funds

Anzo Capital states that client funds are held in segregated bank accounts away from company operating money. Segregation is useful, but it is not the same as deposit insurance or a government-backed compensation fund.

Anzo Capital earns a rating of 6.5/10. Its strongest features are MT4 and MT5, a $4 per lot round-turn ECN commission, Expert Advisor and FIX API support, copy trading, and leverage up to 1:1000 on eligible major forex pairs.

The main weaknesses are the offshore international structure, no government investor compensation scheme, a limited instrument range, a $15 inactivity fee after 90 days, and a 5% penalty when deposited funds are withdrawn without trading. Our live chat test also produced a fast but incomplete answer.

Anzo Capital is best suited to experienced intermediate forex traders who understand raw pricing, dynamic leverage, and entity risk. Traders prioritizing Tier 1 regulation, long-term asset ownership, broad crypto access, or extensive education should consider another broker.