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FIRE PHOENIX
Regulators:
I opened an account with Fire Phoenix a couple of months ago and made a couple of deposits into my account with them and after quite a few successful trades I attemped to withdraw, they said my account had not been verified properly and was therefore frozen until I made a payment of 17197 USDT for this process to happen and then it would be refunded. I sent the payment and 24 hours later my identity was approved, account unfrozen and they refunded the payment onto my account held with them. I then made a withdrawal request and they said because the amount I was requesting was large, they couldn't authorise it until I send a further payment of 25% of my fund which was 19625 USDT as a large-amount certification fee so them can open a large-amount channel for me.
I haven't sent this payment as it seems they continually want money for made up things and it is clear to me this is a scam and I will never see my money again but I would like advise please.
Dear Trader,
Regrettably, all signs suggest that FIRE PHOENIX is a scam. We advise you to discontinue any engagement with this unregulated trading platform to prevent further financial losses and report this scam to your local authorities. As you've noted, they exploit your desire to earn money from investments repeatedly, concocting various unreasonable excuses to deceive you into sending them more money. Typically, legitimate brokers are transparent about their commissions and fees and will not request additional money each time.
BrokersView has previously flagged FIRE PHOENIX as a scam due to its lack of oversight from financial regulators. This entity, which claims to be headquartered in the UK, has been flagged by the Financial Conduct Authority (FCA), the UK's financial regulator, as unauthorized. This is a significant indicator of a scam.
We understand the distress and frustration this scam has caused you. However, we urge you to stay vigilant and avoid making impulsive decisions due to your losses. In particular, beware of another type of scam known as the Recovery Room Scam. In this scam, individuals or businesses claim they can help you trace or recover your funds. The FCA has issued a notice about this scam, advising investors not to trust it. This scam is designed to further drain the resources of victims.
As a third-party service, we are committed to advocating for the rights of victims and providing support at no cost to you. We strive to ensure a fair resolution to your complaint. We encourage you to submit a complaint on our platform at https://www.brokersview.com/complaint. Your case plays a crucial role in our ongoing efforts to combat scams.
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