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Score

1.23 /10
Danger

Phoenix FX

Saint Lucia

1-2 years

Suspicious Regulatory License

Suspicious Scope of Business

High potential risk

https://phoenixfxltd.com/

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Comparison

Quantity 6

Exposure

Open Account
Website

Score

Regulatory Index0.00

Business Index4.85

Risk Management Index0.00

Software Index4.00

License Index0.00

The WikiFX Score of this broker is reduced because of too many complaints!
Open Account
Website

Licenses

No valid regulatory information, please be aware of the risk

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

Single Core

1G

40G

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Broker Information

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Company Name

Phoenix FX Limited (Saint Lucia)

Company Abbreviation

Phoenix FX

Platform registered country and region

Saint Lucia

Company website

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  • 971528444000

Company summary

Pyramid scheme complaint

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Check whenever you want

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Warning: Low score, please stay away! 2
Previous Detection : 2025-02-01
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of the complaints received by WikiFX have reached 5 for this broker in the past 3 months. Please be aware of the risk!

WikiFX Verification

Exposure

6 pieces of exposure in total
Pyramid scheme complaint
Expose
Unable to Withdraw

Not come my Withdra

Brokar properly not responding 3 months completed still my withdra pending Iam deposits my bank plz give my withdra

2024-08-12 19:07
Unable to Withdraw

When my Withdra come

deposited around 1000 dollar made it to 1200 then when i tried to withdraw they rejected it. got to know from customer support that they will only give withdrawal on profits for now for few days. its been more than 2-3 months but still not able to withdraw my total money Still my Withdra pending

2024-07-28 16:41
Resolved

not giving deposit back

i deposited around 500 dollar made it to 1200 then when i tried to withdraw they rejected it. got to know from customer support that they will only give withdrawal on profits for now for few days. its been more than 2-3 months but still not able to withdraw my total money

2024-02-29 06:37
Unable to Withdraw

When come my withdra

4 months completed still my withdra pending Y rejected my withdra iam again withdra Still pending my withdra Iam deposit 1000$ plz give my principal amount 🙏🙏🙏

2024-09-17 13:23
Unable to Withdraw

I am not able to withdraw my m

I am not able to withdraw my money from my account . since last to month please help me out from this problem . and In my MT 5 app authorisation fail indicate

2024-05-20 13:22
Unable to Withdraw

Withdrawals not Given

From last 03 months i placed one withdrawal request, till to date they not respond on same and same situation with my colleague. he also make withdrawal request and they not approved his request yet. And they said to invest fresh fund then we will able to do some adjustment of your old fund. now they customer support number also not responding to my massage all are requested to not to put fund with this broker otherwise you will loose your hard earned money. i fed up with the follow up with this peoples

2024-08-23 18:08
Phoenix FX · Company summary
Phoenix FXReview Summary
Founded2023-09-22
Registered Country/RegionSaint Lucia
RegulationOffshore Regulated
Market InstrumentsForex/Indices/Stocks/Cryptocurrency/Metals
Demo Account❌
LeverageUp to 1:500
SpreadAs low as 0.0 pips
Trading PlatformPhoenix FX(Mobile(iOS/Android))
Min Deposit$10
Customer SupportPhone: +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.

Phoenix FX Information

Pros and Cons

Pros Cons
Leverage up to 1:500Offshore Regulated
24/7 customer supportMT4/MT5 unavailable
Various tradable instrumentsUnclear swap fee
Spread as low as 0.0 pipsUnspecific transfer time and fee information
Commission freeNegative comments about difficulty in withdrawal

Is Phoenix FX Legit?

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

Is Phoenix FX Legit?
Is Phoenix FX Legit?

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❌
What Can I Trade on Phoenix FX?

Account Type

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

Account Type SuperECNMax
Initial Deposit$10$10$10
LeverageUp to 1:500Up to 1:500Up to 1:500
CommissionZeroZeroZero
SpreadFrom 1.5 pipsRawFrom 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 PlatformSupported Available Devices
Phoenix FX✔Mobile(iOS/Android)
Trading Platform

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.

Deposit and Withdrawal

News

ExposureBe cautious while investing with Phoenix FX

Forex scams are getting more frequent. As more and more people become interested in forex, Fraud is becoming more common. Every day, forex scams happen. Fraudsters attract victims by making appealing promises. Investors fell for these false promises and eventually got duped.

WikiFX
2024-05-24 17:28
Be cautious while investing with Phoenix FX

ExposurePhoenix FX: SCAM OR LEGIT?

Established in 2023 in Saint Lucia, Phoenix FX Limited offers a suite of Forex and CFD trading options without regulatory backing. Appealing to a various trading community, it provides access to multiple markets, including forex, indices, commodities, cryptocurrencies, and stocks.

WikiFX
2024-05-15 20:32
Phoenix FX: SCAM OR LEGIT?
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FX3221461288
6-12months
4 months completed still my withdra pending Y rejected my withdra iam again withdra Still pending my withdra Iam deposit 1000$ plz give my principal amount 🙏🙏🙏
4 months completed still my withdra pending Y rejected my withdra iam again withdra Still pending my withdra Iam deposit 1000$ plz give my principal amount 🙏🙏🙏
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2024-09-17 13:23
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Yoxihui
more than one year
Spread lines are not correct sometimes ask/bid...for example They shown as 10 points but the real spread is 20 in the list. They give you fake spread in charts. You place order then you see the order line is way far from the spread lines. I Even use their own copy of MT5.
Spread lines are not correct sometimes ask/bid...for example They shown as 10 points but the real spread is 20 in the list. They give you fake spread in charts. You place order then you see the order line is way far from the spread lines. I Even use their own copy of MT5.
Translate to English
2024-08-26 15:48
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