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Phoenix FX Trade

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Operating status: SCAM

Website: https://www.phoenixfxtrade.com/

Broker violations and abnormal records
  • 2023-12-18 The UK FCA issued a Warning against Phoenix FX Trade

    On 18 December 2023, the United Kingdom Financial Conduct Authority (UK FCA) issued a warning that Phoenix FX Trade was providing financial services or products in the UK without authorisation. You may visit: https://www.fca.org.uk/news/warnings/phoenix-fx-trade

    On 18 December 2023, the United Kingdom Financial Conduct Authority (UK FCA) issued a warning that Phoenix FX Trade was providing financial services or products in the UK without authorisation. You may visit: https://www.fca.org.uk/news/warnings/phoenix-fx-trade
  • 2023-12-18 BrokersView has Reviewed that ​Phoenix FX Trade is an Unregulated Broker

    According to its website, Phoenix FX trade claims are registered in the United States with registration number 11334188, but our investigation revealed that it is not licensed in the US, as no matching information was found in the National Futures Association (NFA).

    In addition, the United Kingdom Financial Conduct Authority (UK FCA) issued a warning that Phoenix FX Trade was providing financial services or products in the UK without authorisation.

    The truth is that Phoenix FX Trade is not under valid regulation by any regulators to do forex. Investors' funds in this broker are unsafe and cannot be protected by any law.

    Phoenix FX Trade is a scam.

    According to its website, Phoenix FX trade claims are registered in the United States with registration number 11334188, but our investigation revealed that it is not licensed in the US, as no matching information was found in the National Futures Association (NFA).In addition, the United Kingdom Financial Conduct Authority (UK FCA) issued a warning that Phoenix FX Trade was providing financial services or products in the UK without authorisation.The truth is that Phoenix FX Trade is not under valid regulation by any regulators to do forex. Investors' funds in this broker are unsafe and cannot be protected by any law.Phoenix FX Trade is a scam.

Related Complaints

Q&A

Will Phoenix FX Trade give me bonus if I invited a friend to sign up?

Tahmina Begum
French Guiana
2023-12-27
ANSWER Considering its lack of licensing, there's no assurance that Phoenix FX Trade will provide bonuses. Engaging with this unregulated broker carries substantial risk, and we strongly advise against harboring any illusions of making profits with an unregulated broker like Phoenix FX Trade, which lacks credibility.Despite its claims of being registered in the US, it is not a member of the National Futures Association (NFA) and is therefore not under the authority's supervision. This is a significant red flag. Furthermore, the UK's financial regulator, the Financial Conduct Authority (FCA), has issued a warning against Phoenix FX Trade, labeling it as an unauthorized firm in the UK, which further underscores its fraudulent nature.Investors are therefore strongly advised to avoid dealings with Phoenix FX Trade to prevent falling prey to fraud and identity theft. It is safer to opt for fully regulated brokers with solid reputations to minimize such risks.
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Risk Warning:

FX trading is of high risk and may not be suitable for all investors. Leverage will create additional risks and loss. Before trading, please carefully consider your investment objectives, experience level and risk tolerance. You may lose part or all of your initial investment; do not invest money that you cannot afford. Educate yourself about the risks associated with FX trading. If you have any questions, please consult an independent financial or tax advisor. Any data and information are provided "as is" and only for information purpose, not for trading or recommendations. Past performance does not predict future results.

Disclaimer:

The data contained in this website may not be real-time and accurate. The data and prices on this site are not necessarily provided by the market or exchange, but may be provided by market makers, so prices may be inaccurate and differ from actual market prices. Namely, this price is indicative price only to reflect market trend, and is unfavorable for trading purpose. The provider of the data contained in the Website shall not be liable for any loss incurred by you as a result of your trading activities or reliance on the information contained in the Website.