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Phyntex Markets -

No Regulation

Score

1.83 /10

Danger

Phyntex Markets

Item: Phyntex Markets
Rating: 1.83

Comoros

1-2 years

Suspicious Regulatory License

MT5 Full License

Regional Brokers

High potential risk

https://phyntexmarkets.com

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Comparison

Quantity 1

Exposure

Time Machine

Website

Score

Regulatory Index0.00

Business Index5.14

Risk Management Index0.00

Software Index7.73

License Index0.00

Follow

Time Machine

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

Phyntex Group Limited

Company Abbreviation

Phyntex Markets

Platform registered country and region

Comoros

Company website

https://phyntexmarkets.com

Company summary

Pyramid scheme complaint

Expose

Phyntex Markets · Company summary

Phyntex MarketsReview Summary
Founded	2023
Registered Country/Region	Comoros
Regulation	No regulation
Market Instruments	Forex, Commodities, Indices CFD, Stocks CFD, Cryptocurrencies CFD, ETFs, Stocks
Demo Account	❌
Leverage	Up to 1:5000
Spread	From 1.8 (Standard Account)
Trading Platform	MT5
Min Deposit	$15
Customer Support	Phone: + 914-294-5211
	Email: support@phyntexmarkets.com
	Online Chat: 24/5
	Physical Address: 338, Jln Tun Razak, Kampung Datuk Keramat, 55000 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur

Phyntex Markets Information

Phyntex Markets, incorporated in Comoros in 2023. As a broker offering trading in Forex, commodities, indices and various CFDs, it also offers 4 account types as well as MT5 as a trading platform. It also supports commission-free trading. But as things stand, Phyntex Markets are not regulated.

Pros and Cons

Pros	Cons
4 account types	No regulation
Free of commission	Demo accounts are not available
MT5 is available

Is Phyntex Markets Legit?

Phyntex Markets is currently unregulated. The search revealed that its website was registered in 2023.

What Can I Trade on Phyntex Markets?

Phyntex offers traders currency pairs, including major currency pairs, minor currency pairs, exotic currency pairs. Commodities can be traded in precious metals and energy, such as gold, silver and crude oil. In addition, it supports trading indices, CFD stocks, CFD cryptocurrencies, CFD ETFs and stocks.

Tradable Instruments	Supported
Forex	✔
Commodities	✔
Indices	✔
CFD Stocks	✔
CFD Cryptocurrencies	✔
CFD ETFs	✔
Stocks	✔
Bonds	❌

Account Types

Phyntex offers 4 account types: Standard, Bonus, Premium and Cent. Among them, the lowest deposit requires $15, and the maximum leverage is 1:5000.

Account Types	Standard	Bonus	Premium	Cent
Bonus Amount	$25	$25	$100	$15
Spread from	1.8	1.8	0.3	0.8
Leverage	1:5000	1:2000	1:2000	1:3000
Commission	No	No	No	No
Swap-free Period	60 Days	60 Days	60 Days	60 Days
Max Order	200	200	200	300

Phyntex Markets Fees

The four accounts have a starting spread range of 0.3 to 1.8 and are commission-free. In addition, they waive swap fees for a limited period of time, 60 days.

Trading Platform

Phyntex supports MT5 and traders can use the desktop, mobile and tablet versions.

Trading Platform	Supported	Available Devices	Suitable for
MT5	✔		Skilled traders
MT4	❌

Deposit and Withdrawal

Phyntex's payment methods include bank transfers, credit/debit cards and electronic payment systems with no deposit fees.

In terms of withdrawal processing time, PSP withdrawals are usually faster and bank transfers can take several business days.

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Previous Detection : 2024-12-28

It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

WikiFX Verification

Overview

Biz Area

WikiFX Survey

Website

MT4/5

Genealogy

Clones

Keywords

Account

Time Machine

Benchmark	--
Maximum Leverage	1:3000
Minimum Deposit	$15
Minimum spread	from 1.8
Products	--

Currency	--
Minimum position	--
Supported EA
Depositing Method	--
Withdrawal Method	--
Commission	No

Exposure

1 pieces of exposure in total

Pyramid scheme complaint

Expose

Unable to Withdraw

Unable to withdraw

The platform directly closed my account and then refused to allow withdrawals. I have asked customer service for help but have not received a reply.

FX1886668769

2024-04-18 14:55

Phyntex Markets · Company summary

Phyntex MarketsReview Summary
Founded	2023
Registered Country/Region	Comoros
Regulation	No regulation
Market Instruments	Forex, Commodities, Indices CFD, Stocks CFD, Cryptocurrencies CFD, ETFs, Stocks
Demo Account	❌
Leverage	Up to 1:5000
Spread	From 1.8 (Standard Account)
Trading Platform	MT5
Min Deposit	$15
Customer Support	Phone: + 914-294-5211
	Email: support@phyntexmarkets.com
	Online Chat: 24/5
	Physical Address: 338, Jln Tun Razak, Kampung Datuk Keramat, 55000 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur

Phyntex Markets Information

Phyntex Markets, incorporated in Comoros in 2023. As a broker offering trading in Forex, commodities, indices and various CFDs, it also offers 4 account types as well as MT5 as a trading platform. It also supports commission-free trading. But as things stand, Phyntex Markets are not regulated.

Pros and Cons

Pros	Cons
4 account types	No regulation
Free of commission	Demo accounts are not available
MT5 is available

Is Phyntex Markets Legit?

Phyntex Markets is currently unregulated. The search revealed that its website was registered in 2023.

What Can I Trade on Phyntex Markets?

Phyntex offers traders currency pairs, including major currency pairs, minor currency pairs, exotic currency pairs. Commodities can be traded in precious metals and energy, such as gold, silver and crude oil. In addition, it supports trading indices, CFD stocks, CFD cryptocurrencies, CFD ETFs and stocks.

Tradable Instruments	Supported
Forex	✔
Commodities	✔
Indices	✔
CFD Stocks	✔
CFD Cryptocurrencies	✔
CFD ETFs	✔
Stocks	✔
Bonds	❌

Account Types

Phyntex offers 4 account types: Standard, Bonus, Premium and Cent. Among them, the lowest deposit requires $15, and the maximum leverage is 1:5000.

Account Types	Standard	Bonus	Premium	Cent
Bonus Amount	$25	$25	$100	$15
Spread from	1.8	1.8	0.3	0.8
Leverage	1:5000	1:2000	1:2000	1:3000
Commission	No	No	No	No
Swap-free Period	60 Days	60 Days	60 Days	60 Days
Max Order	200	200	200	300

Phyntex Markets Fees

The four accounts have a starting spread range of 0.3 to 1.8 and are commission-free. In addition, they waive swap fees for a limited period of time, 60 days.

Trading Platform

Phyntex supports MT5 and traders can use the desktop, mobile and tablet versions.

Trading Platform	Supported	Available Devices	Suitable for
MT5	✔		Skilled traders
MT4	❌

Deposit and Withdrawal

Phyntex's payment methods include bank transfers, credit/debit cards and electronic payment systems with no deposit fees.

In terms of withdrawal processing time, PSP withdrawals are usually faster and bank transfers can take several business days.

News

Exposure WikiFX Broker Assessment Series | Is Phyntex Markets Reliable?

In this article, WikiFX made a comprehensive review of a broker named Phyntex Markets to help you better understand the truth.

WikiFX

2024-01-15 16:57

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Zutter

more than one year

Phyntex Markets makes it easy to fund your account with a variety of payment methods, which is super convenient. And their commission rates are super competitive, too! So you can trade with peace of mind knowing you're getting a good deal.

Translate to English

2024-07-18 18:47

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cy63697

more than one year

Phyntex Markets responded promptly. It turned out that there was a mixup with my banking information. I received the refund of $1000 from FXCM today. Now I can redeposit via the proper avenue, so that I could start trading asap.

Translate to English

2024-06-14 10:38

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