Worked example
Practising on Zero Markets's numbers
This is an exercise sheet, not a review. We are going to take three things that Zero Markets publishes — a spread, a ladder of account types and a list of licences — and turn each of them into something you can do arithmetic with. By the end you should be able to repeat the whole exercise on any firm you come across, which is the actual skill being taught.
The figures we are working from
Nothing below is our estimate. Where a firm has not published something, or we could not read it on a source we trust, the box says so instead of guessing — a habit worth copying when you build your own broker notes.
Exercise one — turn the spread into money
Zero Markets does not publish a EUR/USD spread we were able to verify, so there is no honest arithmetic to do on this page. Do not substitute a number you read on a comparison site: an unverified spread quietly becomes an unverified cost, and then an unverified plan. Use one of the other examples on the practice index for this exercise and come back to this file for the account ladder below.
Exercise two — read the account ladder
Account tiers are a pricing structure dressed as a status ladder. Zero Markets offers 0 rungs. Read them as a question — what does each rung ask of me, and what does it give back? — rather than as a set of prizes to climb towards.
Exercise three — what this licence list means for you
A long licence list is not automatically a good sign. What matters to a beginner is a narrower question: which entity would hold my money, and who supervises that entity? Those are often not the same as the impressive name at the top of the list. Here are Zero Markets's lines, each with a plain reading.
| Regulator | Entity on the register | Number | What that means for a beginner |
|---|---|---|---|
| ASIC · Australia | ZERO Securities Pty Ltd (trading as ZERO Markets) | AFSL 244040 | a top-tier regulator: compensation scheme, capital rules and a public register you can search yourself |
| FMA New Zealand (FSP register) · New Zealand | Zero Markets (NZ) Limited | FSP 569807 | a mid-tier regulator: real supervision and a register, usually with a smaller or capped compensation scheme |
| FSC Mauritius · Mauritius | Zero Financial Ltd | GB21026308 | an offshore registration: a company exists and pays a fee, but expect little practical recourse from that entity |
1 of these line is top-tier — held by ZERO Securities Pty Ltd (trading as ZERO Markets). If you are onboarded to a different entity than those, the protections attached to the top-tier line are not yours, however prominently the regulator's initials appear in the marketing. 1 line is offshore registration; treat those as a company address rather than as supervision.
The record behind these numbers
- ZERO Securities Pty Ltd (ACN 056 617 862) trades as ZERO Markets and holds Australian Financial Services Licence 244040, per its Financial Services Guide dated 1 April 2025.
- Zero Markets (NZ) Limited (NZBN 9429046269300, FSP 569807) issues derivatives to New Zealand residents only.
- Zero Financial Ltd is licensed as an Investment Dealer by the Financial Services Commission of Mauritius under licence GB21026308.
- Zero Markets states its services are not available to residents of the European Union, the United States and a list of other jurisdictions.
- The company states retail client money is held separately from firm capital with external audit of its accounts.
What we could not verify
The following are unconfirmed and are deliberately left blank rather than estimated: founding year; minimum deposit; maximum leverage; EUR/USD spread; account type names; negative balance protection. Confidence in this file overall: high. When you build your own notes on a firm, keep a list like this one — the gaps are more useful than the figures, because they tell you what to go and check.
Run the same exercise on another firm
PipMentor does not rank brokers, does not award badges and does not tell you where to open an account. This page exists so the arithmetic you learn in the curriculum has real numbers to bite on.