Phyntex Markets-1066503310

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 is regulated by MISA.

Pros and Cons

Is Phyntex Markets Legit?

Phyntex Markets, operated by Phyntex Group Limited, is regulated by the Mwali International Services Authority (Comoros) under Forex Trading License EP No. T2023344, effective from August 17, 2023, to August 17, 2026.

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.

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.

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.

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.