Score

1.46 /10
Danger

PhaseForex

Cyprus

2-5 years

Suspicious Regulatory License

High potential risk

D

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Comparison

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Exposure

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Score

Regulatory Index0.00

Business Index6.61

Risk Management Index0.00

Software Index4.00

License Index0.00

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Website

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

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Warning: Low score, please stay away! 4
Previous Detection : 2024-11-10
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The VanuatuVFSC regulation (license number: 40387) claimed by this broker is suspected to be clone. Please be aware of the risk!

WikiFX Verification

PhaseForex · Company summary

Note:PhaseForexe's official website:https://www.phaseforex.com/ is currently inaccessible normally.

AspectInformation
Company NamePhaseForexe
Registered Country/AreaCyprus
Founded Year2019
RegulationVFSC(Suspicious Clone)
Customer SupportPhone:+90 212 991 19 86Email:info@phaseforex.comAddress:B1 359 28th October street,, WTC Cyprus - Trust Re Building, Limassol 3107Social Media:https://www.linkedin.com/company/phaseforex

PhaseForexe Information

Founded in 2019 and with headquarters in Cyprus, PhaseForexe runs under dubious clone control under VFSC. The firm emails info@phaseforex.com and offers customer care over phone at +90 212 991 19 86. Their office is housed at B1 359 28th October Street, WTC Cyprus - Trust Re Building, Limassol 3107. They also keep up a LinkedIn social media profile at https://www.linkedin.com/company/phaseforex.

PhaseForexe Information

Is PhaseForexe Legit or a Scam?

Is PhaseForexe Legit or a Scam?
Vanuatu Financial Services Commission(VFSC)
Current StatusSuspicious clone
Regulated byVFSC
License TypeRetail Forex License
License No.40387
Licensed InstitutionPhase Markets LTD

Downsides of PhaseForexe

Phase Forex claims VFSC regulates them. This control, however, is believed to be a clone, which calls serious doubts about the broker's security and legitimacy.

The broker is classified as having a high potential risk due to its questionable regulatory attitude and possibility of involvement in fraudulent activities, which could damage traders' capital.

Users of the PhaseForexe website have reported that it is occasionally inaccessible, which would limit traders' capacity to operate their accounts, execute deals, and get support, so removing dependability and confidence in the broker's services.

Conclusion

PhaseForexe, a Cyprus-based unregulated broker with dubious clone control, seriously risks traders with its high potential risk profile and lack of corporate openness. These parts bring major questions regarding the dependability and security of trading with PhaseForexe. If traders wish a more safe and dependable trading atmosphere, they should most definitely make use of controlled brokers using honest approaches.

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