ZBG Exchange Review: Deep Dive into Risks, Fees, and Trustworthiness

When you hear the name ZBG Exchange is a Hong‑Kong‑based platform launched in July 2018 as a subsidiary of ZB.com. It markets itself as a playground for newer tokens, promising low‑cost trading and a fast‑track to its parent exchange. This ZBG exchange review pulls together data from regulators, independent analysts, and real‑user feedback to let you decide whether the hype matches reality.

Key Takeaways

• ZBG’s self‑reported volume is untracked by CoinMarketCap, raising strong doubts about its legitimacy.
• Fee schedules are opaque; users frequently encounter hidden withdrawal and maker/taker charges.
• Security claims (2FA, cold storage) lack third‑party audit evidence, unlike exchanges such as Kraken that publish proof‑of‑reserves.
• The platform operates without a HongKong SFC licence, exposing traders to regulatory risk.
• Compared with major rivals like Binance and Coinbase, ZBG falls short on transparency, volume verification, and user support.

1. History and Ownership

ZBG was created by the team behind ZB.com, a well‑known exchange that started in 2017. The parent calls ZBG “its baby brother,” allowing projects that can’t meet ZB.com’s stricter listing standards to launch on ZBG first. In practice, tokens that earn enough liquidity on ZBG may be promoted to ZB.com, while under‑performing assets can be “degraded” back to ZBG.

The sister exchange ZBX, registered in Malta, shares liquidity pools with ZBG. This cross‑border arrangement adds a layer of regulatory ambiguity, as Malta’s licensing regime differs from HongKong’s nascent framework.

2. Volume Claims vs. Verified Data

Back in February2019, ZBG reported a 24‑hour volume of $450million, ranking it among the top ten exchanges on CoinMarketCap. By December2021 the platform announced a staggering $8.8billion daily turnover, about 29% of Binance’s $30billion on the same day.

However, CoinMarketCap now lists ZBG as an “Untracked Listing,” meaning the aggregator cannot verify any of those numbers. Independent analysis from Chainalysis shows that untracked exchanges account for only 0.3% of global volume in 2025, a steep decline from 2.7% in 2023. The discrepancy suggests that ZBG’s historic figures were likely inflated through wash‑trading.

3. Fee Structure and Hidden Costs

Unlike Coinbase, which openly publishes maker/taker fees ranging from 0.05% to 0.60% (based on monthly volume), ZBG’s website offers no clear fee schedule. Reviews from Traders Union in May2025 repeatedly mention surprise withdrawal fees and “processing” charges that appear only after the trade is executed.

One user on CryptoSlate reported a 0.3% hidden fee on a $10,000 BTC purchase that reduced the net amount by $30, an amount not reflected in the order confirmation screen.

4. Security Measures and Audits

ZBG claims to use two‑factor authentication and cold‑storage wallets, standard safeguards for most exchanges. Yet the platform has never released an independent security audit or a proof‑of‑reserves report. In contrast, Kraken publishes quarterly audits verified by accounting firm Marcum LLP.

The lack of third‑party verification, coupled with a growing number of scam domains imitating ZBG (e.g., zbgmax.com, zbgopt.com), increases phishing risks. Users have reported receiving phishing emails that mimic ZBG’s branding, prompting them to reveal login credentials.

5. Regulatory Landscape

HongKong’s Securities and Futures Commission (SFC) introduced a licensing regime for virtual‑asset trading platforms in March2023. There is no public record of ZBG obtaining an SFC licence. The Financial Conduct Authority (FCA) in the UK warned in July2025 that platforms with opaque operations, like ZBG, pose “high‑risk” to investors.

Without a license, ZBG operates in a legal gray area. Investors could face enforcement actions, and any dispute may lack jurisdictional recourse.

6. Core Services Offered

Beyond basic spot trading, ZBG provides:

• OTC desk for large‑volume trades.
• Launchpad for token sales, targeting early‑stage projects.
• Rocket services that promise acceleration and marketing for new tokens.
• Mobile apps for iOS and Android-though recent user reviews note frequent crashes and delayed updates.

While these features sound attractive, none compensate for the platform’s transparency gaps.

7. Comparison with Leading Exchanges

8. Real‑World User Experience

Feedback on platforms that aggregate user reviews-such as CryptoGeeks and CryptoSlate-shows a recurring theme: withdrawal delays and unresponsive customer service. One trader recounted a 17‑day wait for a 2.5BTC withdrawal, receiving only a generic “system maintenance” email.

Support channels are limited to email and a basic ticketing system; live chat is absent. The small number of public reviews (often just three to five) suggests that either the user base is tiny or negative experiences are being suppressed.

9. Red Flags Summary

• Unverified trading volume claims (CoinMarketCap untracked status).
• Opaque fee structure with hidden charges.
• No publicly available security audits or proof‑of‑reserves.
• Lack of SFC licensing in HongKong.
• Multiple scam domains impersonating the brand.

10. Should You Trade on ZBG?

If you’re chasing the newest altcoins and can tolerate high risk, ZBG might give you early access. However, the combination of questionable volume reporting, hidden fees, regulatory uncertainty, and weak user support makes it a high‑risk choice. For most traders, especially those protecting sizable capital, established exchanges like Binance or Coinbase provide better transparency, audited security, and clear fee structures.