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/10

PHOENIX MARKETS

Cyprus Cyprus | 10-15 years |
Regulated in Cyprus | Market Making License (MM) | Suspicious Operational Region | High Potential Risk

https://www.phoenixmarkets.com

Website

Rating Index

Influence

Influence

D

Influence Index NO.1

Thailand Thailand 2.69
Surpassed 16.40% brokers
Business Region Search Statistics Ad Campaigns Social Media Index

Contact

+357 25 123 281
https://www.phoenixmarkets.com
Company Profile 5
10-15 years
Regulated in Cyprus
Market Making License (MM)
Suspicious Operational Region
High Potential Risk
Warning: Low score, please stay away!
  • This broker has accumulated 1 negative field survey reviews on WikiFX. Please be aware of the risk and guard against potential fraud.
2

Basic Information

Registered Region
Cyprus
Operating Period
10-15 years
Company Name
WGM Services Limited
Abbreviation
PHOENIX MARKETS
Employees
--
Email
support@ezinvest.com
Contact Number
+35725123281
Account Info
Business Region
Verified Site
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Official Website

Verified Site

  • phoenixmarkets.com
    104.28.20.234
    Server Location
    United States United States
    ICP Registration No.
    --
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PHOENIX MARKETS

Related Companies

WGM SERVICES LTD(United Kingdom)
United Kingdom
WGM SERVICES LTD(United Kingdom)
Active
United Kingdom
Registration No. 10923810
Est. Date
Source Official Statement
Employees

Company Profile

Company Profile

Review summary

General Information & Regulation

PHOENIX MARKETS is owned and operated by WGM Services Ltd, established in 2013, and is a Cyprus registered online forex and CFD broker, currently regulated by CySEC in Cyprus, holding its authorized full license, regulation number: 203/13.

Markets Instruments

PHOENIX MARKETS offers financial instruments including global currency pairs, major global indices, commodities, equity CFDs, and cryptocurrencies.

Minimum Deposit

PHOENIX MARKETS offers three different trading accounts: the Starter Account (minimum initial deposit of EUR 1,000, for Retail accounts), Gold Account (minimum initial deposit of EUR 25,000, for Retail & Pro accounts), and Platinum Account (minimum initial deposit of EUR 99,000, for Retail & Pro accounts). Objectively speaking, the minimum deposit amount set by PHOENIX MARKETS is too high, and investors should be careful to avoid risks.

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PHOENIX MARKETS Leverage

PHOENIX MARKETS, as a Cyprus regulated broker, can offer the maximum trading leverage for retail clients is capped at 1:30 forex instruments. While for the professional traders, they can apply the high trading leverage of up to 1:200 after the status is confirmed.

Spreads & Commissions

Spreads start at 3 pips for the Starter account and 1.5 pips for the Gold account, with no commission on forex trading, $10/€/£ per lot for futures trading, 1% for stocks, and 0.5% for cryptocurrencies for both accounts. Concerning the Pro Account, the commission for futures trading for retail traders is the raw spread + $10/€/£ per lot. In contrast, the commission for futures trading for professional traders is the raw spread + $7/€/£ per lot, and the commissions for stocks and cryptocurrencies are 1% and 0.5%, respectively.

Trading platforms

PHOENIX MARKETS offers investors a choice of three trading platforms, namely PHOENIX Webtrader, MT4, and mobile trading platform.

Deposit and withdrawal

PHOENIX only supports traders to deposit and withdraw funds to their accounts through VISA, MasterCard credit cards, and wire transfers. Compared to most brokers that offer popular e-wallet payment methods, the platform's payment methods are too limited.

Customer Support

The PHOENIX MARKETS website has been translated into several languages for traders from different regions. The PHOENIX MARKETS customer support team can be reached through email, telephone, as well as some social media platforms, including Facebook, Twitter, and Linkedin. Unfortunately, live chat support is unavailable, though it is the quickest way to get responded.

Company Profile

  • 10-15 years
  • Regulated in Cyprus
  • Market Making License (MM)
  • Suspicious Operational Region
  • High Potential Risk

Wiki Q&A

How safe is trading with PHOENIX MARKETS?

PHOENIX MARKETS, operated by WGM Services Limited, holds a valid Market Making license (203/13) from CySEC in Cyprus, which subjects it to European regulatory oversight.

04-02
United States

Which regulator oversees PHOENIX MARKETS?

PHOENIX MARKETS is supervised by the Cyprus Securities and Exchange Commission (CySEC). The broker holds a Market Making License (MM) under the regulatory number 203/13, issued to the holding company WGM SERVICES LTD.

04-02
United States

What is the minimum deposit for PHOENIX MARKETS?

PHOENIX MARKETS offers a tiered account structure with varying entry requirements. The most accessible Starter account requires a minimum deposit of $/€/£1,000, while its professional-tier Platinum-pro account demands a substantial $/€/£100,000. Other accounts, such as Gold-Pro and Gold-retail, have minimums of €50,000 and $/€/£50,000 respectively.

04-02
United States

How can I determine if a forex broker is regulated?

To determine whether a broker is regulated, the key is to verify whether it holds a valid financial license. Investors can check the license number and status through the official websites of regulatory authorities (such as Financial Conduct Authority, Australian Securities and Investments Commission) to confirm whether the license is real and under valid supervision. It should be noted that some brokers may engage in license cloning or unauthorized operations, meaning they use another company's license or provide services in regions where they are not authorized. These situations also involve risks. In addition, investors can use WikiFX to check the broker's regulatory status, historical records, and risk ratings as supporting reference, so as to evaluate its compliance more comprehensively.

04-02
United States

What is a clone broker website?

A cloned broker website refers to a fraudulent website that imitates the information of a legitimate broker. Such websites usually copy the real company's brand name, page design, and even regulatory information to mislead investors into making deposits. Common features include: a domain name highly similar to the official website (such as slight spelling differences), abnormal or unverifiable contact information, and promises of unusually high returns. Once funds enter such platforms, they are usually difficult to recover. Investors can identify potential risks by checking the official domain name, verifying regulatory information, and using WikiFX for cross-verification.

04-02
United States

Apakah dana masih dapat dipulihkan setelah terjadi penipuan investasi?

Pemulihan dana setelah terjadi penipuan investasi dapat menjadi proses yang sulit, namun tindakan cepat dapat membantu mengurangi potensi kerugian. Disarankan untuk menyimpan catatan transaksi dan komunikasi, menghubungi pihak bank untuk mencoba menghentikan atau membekukan pembayaran, serta melaporkan kejadian kepada otoritas setempat. Investor juga dapat menggunakan kanal pengaduan di WikiFX untuk meningkatkan visibilitas kasus.

In a week

¿Cómo comparar diferentes brókers de forma eficaz?

Para comparar diferentes brókers, los inversores pueden evaluar factores como la situación regulatoria, la puntuación integral, el entorno de trading, las condiciones de cuenta y los comentarios de usuarios. Se recomienda priorizar la verificación del estado regulatorio y las licencias, seguida del análisis de la puntuación WikiFX y sus distintos índices. La herramienta de comparación multidimensional de WikiFX permite realizar evaluaciones más estructuradas y eficientes.

In a week

What are the most common and reputable forex regulatory authorities?

Common forex regulatory authorities include the Financial Conduct Authority (FCA) in the United Kingdom, the Australian Securities and Investments Commission (ASIC), the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) in the United States, the Cyprus Securities and Exchange Commission (CySEC), and the Monetary Authority of Singapore (MAS). These regulatory authorities usually maintain relatively high regulatory standards, and brokers regulated by them generally have higher compliance levels. You can check broker ranking lists under different regulators on the WikiFX platform, such as brokers regulated by FCA, ASIC, and CySEC, so as to compare brokers under different regulatory backgrounds more clearly and make safer choices.

04-02
United States
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