Phoenix FX Limited is a forex broker established on September 25, 2023, in Saint Lucia, primarily providing financial trading services in forex, indices, metals, cryptocurrencies, stocks, etc., with an undisclosed company headquarters. This broker does not offer services in jurisdictions that may violate local laws or regulations, including but not limited to the United States, Cuba, Iraq, Myanmar, North Korea, and Sudan.
Corporate Registration Information and Regulatory Status:
According to official information on the website of Phoenix FX Limited, its company registration address is Ground Floor, The Sotheby Building, Rodney Bay, Gros-Islet, Saint Lucia PO Box 838, Castries, Saint Lucia, with registration number 2023-00471. The broker's website claims that Phoenix FX Limited is regulated by the Comoros Union Financial Services Authority, holding an international brokerage and clearinghouse license, with license number L15610 / PFX.
Upon verification, the Saint Lucia International Business Companies and International Trust Registry (IFC) lists a company named Phoenix FX Limited, with registration number 2023-00471. However, the Anjouan Offshore Finance Authority (AOFA) does not have a registered company named Phoenix FX Limited, with license number L15610 / PFX. Additionally, the Anjouan Offshore Finance Authority (AOFA) almost has no effective regulation over derivatives trading.
Opening an account:
To open an account with Phoenix FX Limited: visit the broker's website, click on “Register” at the top right corner of the page, fill in personal information such as email address, name, country, phone number, and set a login password. After submission, the broker will send a verification email to the provided email address. Once verified, the account registration is successful.
Account Types:
Phoenix FX Limited offers a demo trading account and three types of real trading accounts: SUPER Account, ECN Account, MAX Account.
SUPER Account:
- Minimum initial deposit: $100
- Maximum trading leverage: 1:500
- Trading commission: $0
- Spread: Fixed at 1.5 points
- Expert Advisor: No
ECN Account:
- Minimum initial deposit: $100
- Maximum trading leverage: 1:500
- Trading commission: $10 per lot
- Spread: Raw spread
- Expert Advisor: Yes
MAX Account:
- Minimum initial deposit: $100
- Maximum trading leverage: 1:500
- Trading commission: $0
- Spread: Fixed at 2.5 points
- Expert Advisor: Yes
Trading Platform:
Phoenix FX Limited offers the MT5 trading platform to its users.
Deposits and Withdrawals:
Phoenix FX Limited supports deposits and withdrawals through credit/debit cards, e-wallets, and other methods.
Conclusion:
Traderknows reminds investors that Phoenix FX Limited is a forex broker with unclear registration information and lacks effective regulation. Traderknows advises investors to choose brokers with transparent information, strong regulation, and good reputation for investment activities to avoid unnecessary financial losses.
Currently, this broker is marked as "suspected of fraud" on Traderknows.
