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Phoenix Trading

United Kingdom|2-5 years|
Suspicious Scope of Business|High potential risk|

https://www.phoenixtrading.net

Website

Rating Index

Contact

https://www.phoenixtrading.net

Licenses

No valid regulatory information, please be aware of the risk!

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Warning: Low score, please stay away! 2
Previous Detection : 2024-07-18
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The current information shows that this broker does not have a trading software. Please be aware!

WikiFX Verification

Phoenix Trading · WikiFX Survey

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Phoenix Trading · Company Summary

Note: Phoenix Trading's official site - https://www.phoenixtrading.net is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.

Phoenix Trading Review Summary
Registered Country/Region United Kingdom
Regulation No Regulation
Market Instruments N/A
Demo Account N/A
Leverage N/A
Spread N/A
Trading Platforms N/A
Minimum Deposit N/A
Customer Support N/A

What is Phoenix Trading?

Phoenix Trading is a trading platform that is based in the United Kingdom. The platform is not regulated, a fact that raises significant concerns about its safety and trustworthiness. Moreover, the company's official website is non-operational at the moment, which further limits the amount of available information about it.

Phoenix Trading

The lack of clarity regarding their market instruments, account details, leverage, spreads, trading platforms, and the minimum deposit requirement reduces its reliability for informed decision-making. Despite the provision of a company address and email for customer support, the unavailability of substantial operating details makes it unreliable, particularly for beginners in the trading space.

Pros & Cons

Pros Cons
N/A
  • No Regulation
  • Lack of Information

Cons:

  • No regulation: The lack of valid regulation raises significant safety and trust concerns, as regulatory oversight is crucial for ensuring customer protection and platform transparency. There are also reports of being unable to withdraw and scams, adding to the cons of the platform.

  • Lack of Information: The company's website is non-functional, suggesting a lack of transparency and reliability. The lack of comprehensive information about trading instruments, fees, and account details hinders informed decision-making and fuels suspicion.

Is Phoenix Trading Safe or Scam?

Phoenix Trading currently lacks valid regulation, which raises significant concerns about its safety and legitimacy. Regulatory oversight is crucial for ensuring that a financial services provider operates within established standards and adheres to specific rules and requirements designed to protect investors and clients. Without proper regulation, there is an increased risk of fraudulent activities, potential scams, and inadequate consumer protection.

No license

Conclusion

In conclusion, there are significant concerns pertaining to Phoenix Trading as a trading platform. The organization is not currently regulated, which is crucial for ensuring safety, fairness, and trustworthiness in the trading industry. Its official website is currently non-functional making it difficult for potential users to find critical information when deciding whether or not to use this broker.

Frequently Asked Questions (FAQs)

Q 1: Is Phoenix Trading regulated?
A 1: No. It has been verified that this broker currently has no valid regulation.
Q 2: Does Phoenix Trading offer demo accounts?
A 2: N/A
Q 3: Is it safe to trade with Phoenix Trading?
A 3: No, It is unregulated and does not provide comprehensive information.
Q 4: Is Phoenix Trading a good broker for beginners?
A 4: No. It is not a good choice for beginners. Not only because of its suspicious clone license but also because of its inaccessible website.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.

In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.

Broker Information

Company Name

Phoenix Trading

Abbreviation

Phoenix Trading

Regulatory Status

No Regulation

Platform registered country and region

United Kingdom

Phone of the company

--

Twitter

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Facebook

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Instagram

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YouTube

--

Company address

--

Linkedin

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WhatsApp

--

QQ

--

WeChat

--

Customer Service Email Address

--

Company Summary

User Reviews

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Daengurster
more than one year
I find their random imposition of swap fees upon closing trades quite frustrating. It's unpredictable and adds an unnecessary variable to my trading costs. Clarity and consistency in fee structures would greatly enhance the user experience.
2024-02-28 18:51
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