Phoenix FX Spreads, leverage, minimum deposit Revealed

WikiFX | 2024-12-31 18:32

Abstract：Phoenix FX is a broker that offers access to tradable instruments, including forex, indices, stocks, cryptocurrency, and metals. The broker also provides three accounts with a maximum leverage of 1:500. The minimum spread is as low as 0.0 pips and the minimum deposit is $10. MAM – COPY Trading enables copying successful strategies and multi-account management. Phoenix FX is still risky due to its offshore regulated status, and bad reviews about difficulty withdrawing money.

Phoenix FXReview Summary
Founded	2023-09-22
Registered Country/Region	Saint Lucia
Regulation	Offshore Regulated
Market Instruments	Forex/Indices/Stocks/Cryptocurrency/Metals
Demo Account	❌
Leverage	Up to 1:500
Spread	As low as 0.0 pips
Trading Platform	Phoenix FX(Mobile(iOS/Android))
Min Deposit	$10
Customer Support	Phone: +971 44 5056 31
	Phone: +971 52 8444 000
	Email: support@phoenixfxltd.com
	Telegram/WhatsApp

Phoenix FX Information

　　Phoenix FX is a broker that offers access to tradable instruments, including forex, indices, stocks, cryptocurrency, and metals. The broker also provides three accounts with a maximum leverage of 1:500. The minimum spread is as low as 0.0 pips and the minimum deposit is $10. MAM – COPY Trading enables copying successful strategies and multi-account management. Phoenix FX is still risky due to its offshore regulated status, and bad reviews about difficulty withdrawing money.

Pros and Cons

Pros	Cons
Leverage up to 1:500	Offshore Regulated
24/7 customer support	MT4/MT5 unavailable
Various tradable instruments	Unclear swap fee
Spread as low as 0.0 pips	Unspecific transfer time and fee information
Commission free	Negative comments about difficulty in withdrawal

Is Phoenix FX Legit?

　　AOFA offshoreregulated Phoenix FX. The license number is L 15610/PFX.

What Can I Trade on Phoenix FX?

　　Phoenix FX offers various market instruments, including forex, indices, stocks, cryptocurrency, and metals.

Tradable Instruments	Supported
Forex	✔
Indices	✔
Stocks	✔
Cryptocurrency	✔
Metals	✔
Shares	❌
Commodities	❌
ETFs	❌
Bonds	❌
Mutual Funds	❌

Account Type

　　Phoenix FX has three account types: super, ECN, and max. Traders who want low spreads can choose a super account.

Account Type	Super	ECN	Max
Initial Deposit	$10	$10	$10
Leverage	Up to 1:500	Up to 1:500	Up to 1:500
Commission	Zero	Zero	Zero
Spread	From 1.5 pips	Raw	From 2.5 pips

Phoenix FX Fees

　　The spread is as low as 0.0 pips, the commission is 0. The lower the spread, the faster the liquidity.

Leverage

　　The maximum leverage is 1:500 meaning that profits and losses are magnified 500 times.

Trading Platform

　　Phoenix FX provides a propriety trading platform available in iOS and Android versions, instead of the authoritative MT4/MT5 with mature analysis tools and EA intelligent systems.

Trading Platform	Supported	Available Devices
Phoenix FX	✔	Mobile(iOS/Android)

Deposit and Withdrawal

　　The minimum deposit is $10. Phoenix FX accepts Mastercard, Neteller, Skrill, Sticpay, Lipi, Visa, etc. for deposit and withdrawal. However, transfer processing times and associated fees are unknown.