Honest Review of Zenit World

Today, trading digital assets has become trendy; the average person believes that only those who are completely out of touch with modern life are not involved in it. Demand creates supply, so only the lazy refrain from creating platforms for cryptocurrency trading. Among the plethora of crypto exchanges, there are many projects created by scammers, but identifying them is not so simple. Our Zenit World review introduces you to a new centralized cryptocurrency exchange (at least, that’s how it appears). Can it be trusted? Is it safe to send your money there? We tried to find answers to these and other questions. Everything we discovered is detailed below.

Key Features

• Company Name: Zenit World LTD
• Website: https://zenit.world/
• Available Contacts: [email protected]
• Foundation: 2022
• Services: Crypto exchange, Crypto derivatives trading, Crypto swap, Staking
• License: MISA
• Initial Deposit: $1

From Sign-Up to Payout

It seems we won’t see an original crypto exchange website for a long time. All new platforms use the same template, making them look like twins. For example, the only difference between the official websites of this exchange and Bybit lies in their color schemes. The design looks decent; even pages filled with widgets displaying available asset groups load quickly. However, the design and content lack individuality.

As for Zenit World itself, it seems the exchange was launched just a few days ago. It’s hard to come up with another reason for so many flaws. For instance:

• Mobile apps are mentioned on the website, but you won’t be able to download them. All links are inactive, with a note saying “Coming soon.” Interestingly, the twin projects have no issues with apps. This raises a valid question: did the creators of Zenit World lack funds to purchase the software?
• During registration, the user only needs to enter their country of residence, an email address or phone number, and a password. With these simple steps, they get an active trading account. Most interestingly, the exchange does not require verification. Either this is temporary, or it is a deliberate violation of most countries’ KYC policies. We believe the latter is more likely. What is the purpose of such violations?
• A registered client can deposit cryptocurrency. However, withdrawals are not possible. The company warns about this and assures users that withdrawals will become available soon. We are curious to see if any trader would deposit funds (even the minimum equivalent of $1) knowing full well they cannot retrieve their investment or profit.
• The only ways to contact the company’s representatives are by submitting a ticket or sending an email. Needless to say, this method of resolving issues is far from efficient. In the volatile cryptocurrency market, this could lead to significant losses. However, the company does not provide an online chat or a phone number.

What we’ve mentioned is already enough to distrust Zenit World. Moreover, the platform does not offer any outstanding advantages or features. So, is it worth depositing funds and constantly worrying about your money, or is it better to open an account on exchanges with years of proven reliability?

Our Trading Experience With Zenit World

For trading cryptocurrencies, spot, and futures contracts, the exchange offers two types of web platforms: one developed by the template creators and the other based on TradingView.

This solution is considered optimal by most centralized cryptocurrency exchanges. However, upon closer inspection of the platforms, several questions arose:

• Why does Zenit World’s list of assets include not only cryptocurrency pairs but also Forex pairs, CFDs on commodities, stocks, and indices? If the project operates as a crypto exchange (as stated in its Whitepaper), why include other trading instruments? And if this is a CFD broker, why isn’t this reflected in the documents?
• At any given moment, users can only view one price chart window. Why didn’t the developers implement a multi-chart mode? It seems the template does not support it, and the company lacks qualified specialists.
• Why can users only use pre-installed indicators in chart windows? For example, all platforms based on TradingView allow working with a vast range of indicators. However, Zenit World has this functionality disabled.

For instance, claiming to be a CEX (Centralized Exchange) allows them to avoid publishing trading conditions for all instruments. Another example is requiring deposits exclusively in cryptocurrency. While acceptable for a crypto exchange, this is rather odd for a CFD broker.

Another issue is ‌withdrawal fees. Although the withdrawal mechanism is not yet implemented, the fee amounts are already specified. There’s plenty of interesting material here, but let’s focus on one example that’s easy to understand. If a trader wants to withdraw funds in Bitcoin, they must:

• Request an amount no less than the minimum limit (0.02 BTC).
• Pay a withdrawal fee of 0.02 BTC.

Thus, the withdrawal fee, for instance, when Bitcoin’s price is $100,000 (which it’s currently close to), would amount to $2,000. Meanwhile, on Bybit, a trader under the same conditions would pay $50, and on Binance, $20. The greed of the platform owners is astounding. At this point, it’s worth being thankful that withdrawals are not yet operational and reconsidering whether dealing with such a project is worthwhile.

The Reality Check

Zenit World has too many oddities, prompting us to analyze the official company’s information especially carefully.

In the website footer and Terms & Conditions, the platform creators state that Zenit World LTD is registered in the Comoros Union on Mwalim (Moheli) Island, even providing its registration number. Additionally, they claim the firm holds a Mwali International Services Authority (MISA) license under number BFX2024011. Let us clarify that this information has been confirmed.

Let us note that the license was issued on February 12, 2024. Also, pay attention to its type BFX. According to MISA’s classification, such a license is granted to brokerage/dealing companies. This raises a logical question: why didn’t a cryptocurrency project apply for a specialized license, even though the regulator issues such licenses (type CL)? Perhaps because the project is only “cryptocurrency-based” in the imagination of its creators, while in reality, it is nothing more than a third-rate Forex/CFD broker.

We’ve previously discussed the value of a MISA brokerage license many times. Experts often compare this document to being registered with the regulator in Saint Vincent and the Grenadines, which neither licenses nor regulates the activities of Forex/CFD brokers and dealers. The reasons for this comparison are as follows:

• The regulator imposes virtually no restrictions on brokers’ activities.
• The rights and interests of traders are barely protected. In most cases, MISA courts side with brokers.
• The regulatory documents are issued by the governing body of the autonomous island of Mwali (Moheli), which has self-assigned this authority. These powers are not recognized even by the Central Bank of Comoros, let alone other regulators or international organizations.

As a side note, MISA issued licenses to over 200 companies in 2023–2024 alone. The popularity of these documents is largely due to their relatively low cost. As of now, more than half of the firms that obtained these licenses either chose not to renew them or turned out to be scams. Scammers can afford to forfeit the fees charged by the regulator, as operating under the guise of a “licensed” company allows them to siphon off significantly larger sums from clients.

Another fact also deserves attention. The two largest cryptocurrency information aggregators — CoinMarketCap and CoinGecko — know nothing about Zenit World as a cryptocurrency project or a centralized exchange. This prompts the question of whether such a crypto project even exists.

How Long Has Zenit World Been in the Game?

The project owners do not disclose the date of establishment on their official website or in their documentation. However, external sources like the WHOIS service can help determine the domain registration date.

According to WHOIS, the domain zenit.world‌ — ‌used by the company‌ — ‌was registered back in June 2022. Interestingly, this is one of the rare cases where the domain registrant does not hide their information. As per WHOIS records, the domain belongs to Zenit World Ltd, with an address in Comoros Union.

The company’s social media accounts also support this timeline, as most of them were created in 2022. However, upon reviewing web archive snapshots and analyzing their social media activity, we noticed some peculiarities:

• Until late July 2024, snapshots of the official website were unavailable. Instead of page images, an error message was displayed. Only in August 2024 did this issue disappear, revealing the site in its current form. While there’s no doubt about the site’s ownership, its prior content remains a mystery.
• Over two years, the company’s social media pages have gained very few followers. For instance, the YouTube channel has only 300 followers, while X (formerly Twitter) has just over 500.
• It’s worth noting that the company obtained its brokerage license in February of 2024. On what basis were its services provided before this date? Evidence of clients accessing markets can be found in videos on the YouTube channel, for example.

In short, there are surprises here as well. While they may seem minor, they do little to inspire confidence in the platform.

Extra Fraud Indicators

We also noticed a couple of additional red flags. Let’s start with Zenit World reviews on specialized platforms like Trustpilot. In the two years since the project appeared online, it has garnered only eight comments, with an average rating of 4.0 out of 5. However, their timeline is far more telling — all eight posts were written between September 22 and October 6, 2023. Before and after this period, users paid no attention to the company.

This appears to be a poorly executed attempt to build a reputation through reviews. It seems that after the eight paid posts failed to deliver the desired results, the company decided not to pursue this tactic further.

On trading and investment-related websites, expert opinions on Zenit World are divided. Some lesser-known crypto trading sites give the exchange relatively high ratings. However, most other review platforms express justified doubts about trusting the company. Their arguments are compelling — from the unusual license type for a crypto project to exorbitant withdrawal fees.

Is Zenit World the Right Fit?

After reviewing Zenit World, it is challenging to draw a clear conclusion. The company is officially registered and operates under a MISA license. However, numerous aspects raise red flags. For example, the brokerage license held by a crypto project, the inclusion of unrelated CFDs in the list of trading instruments, incomplete mobile applications after two years, and a non-functional withdrawal mechanism — all of which are peculiar for a centralized cryptocurrency exchange. Its complete absence from aggregators like CoinMarketCap and CoinGecko further adds to the skepticism. In our view, the risks associated with partnering with this firm are too significant. We would refrain from opening and funding an account here.

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