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After carefully evaluating Zora as a trading option, I find myself unable to confirm whether their spreads are fixed or variable based on the available information. This, in itself, is concerning, given that as a trader, understanding the broker’s spread management is essential for risk planning and strategy execution. In my experience, reputable brokers will clearly state whether their spreads are fixed or floating, and also provide details about how these spreads might widen during major market events, such as economic news releases. What gives me further pause about Zora is the lack of valid regulatory oversight and a warning about high risk. From my years of trading, I've learned that unregulated brokers often lack transparency in crucial areas like spread policy. Without a verified regulatory framework, there’s no reliable way to ensure that their quoted spreads during normal times—or especially during volatility—won’t be unexpectedly widened, dramatically impacting trade costs. Additionally, I noticed a user complaint regarding withdrawal issues and questionable inducement, which raises further doubts about overall trustworthiness. Until Zora provides clear, verifiable details about their spreads and demonstrates reliable operation under proper regulation, I would approach them extremely cautiously when considering them for any trading activity, particularly around news-driven volatility when spreads can change dramatically even with regulated brokers. My priority is always transparent terms, security, and predictable costs, which I don’t see evidenced here.