Global Broker Regulation Inquiry App
About WikiFX

Score

0 1 2 3 4 5 6 7 8 9
.
0 1 2 3 4 5 6 7 8 9
0 1 2 3 4 5 6 7 8 9
/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
Relationship Map
Related Companies
Employees
About Us
Wiki Q&A
Comment

Users who viewed PHOENIX MARKETS also viewed..

EC markets

EC markets

9.24
Score
ECN Account10-15 yearsRegulated in AustraliaMarket Making License (MM)MT4 Full License
EC markets
EC markets
Score
9.24
ECN Account10-15 yearsRegulated in AustraliaMarket Making License (MM)MT4 Full License
Official Website
taurex

taurex

8.49
Score
5-10 yearsRegulated in United KingdomMarket Making License (MM)MT4 Full License
taurex
taurex
Score
8.49
5-10 yearsRegulated in United KingdomMarket Making License (MM)MT4 Full License
Official Website
IC Markets Global

IC Markets Global

8.90
Score
ECN Account15-20 yearsRegulated in AustraliaMarket Making License (MM)MT4 Full License
IC Markets Global
IC Markets Global
Score
8.90
ECN Account15-20 yearsRegulated in AustraliaMarket Making License (MM)MT4 Full License
Official Website
HANTEC MARKETS

HANTEC MARKETS

8.53
Score
ECN Account15-20 yearsRegulated in United KingdomMarket Making License (MM)MT4 Full License
HANTEC MARKETS
HANTEC MARKETS
Score
8.53
ECN Account15-20 yearsRegulated in United KingdomMarket Making License (MM)MT4 Full License
Official Website

Verified Site

  • phoenixmarkets.com
    104.28.20.234
    Server Location
    United States United States
    ICP Registration No.
    --
    Top Visitor Locations
    --
    Creation Date
    --
    Website Name
    --
    Company
    --

Relationship Map

vip Subscribe in the App to unlock!
Download App
vipvip
PHOENIX MARKETS

Related Companies

WGM SERVICES LTD(United Kingdom)
United Kingdom
WGM SERVICES LTD(United Kingdom)
Active
United Kingdom
Registration No.10923810
Est. Date
SourceOfficial 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.

image.png

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 identify a scam or fraudulent forex broker?

A broker can be evaluated as a potential scam platform by considering multiple factors such as regulatory qualifications, user complaints, fund security, and platform data. In general, brokers without valid regulation, those that frequently have withdrawal problems, those with a large number of user complaints, or those providing false information usually carry higher risks. You can check the broker's regulatory status, overall rating, exposure records, and user reviews on the WikiFX platform, and make judgments based on multi-dimensional data to effectively identify and avoid scam platform risks.

04-02
United States

What does it mean if a broker holds multiple regulatory licenses?

If a broker holds multiple regulatory licenses, it usually means that it operates in multiple countries or regions and needs to comply with the requirements of different regulatory authorities. Its overall credibility is generally higher. However, it should be noted that regulatory strength differs between licenses. Some offshore regulations have weaker restrictions, so safety should not be judged only by the number of licenses. It is recommended to focus on whether the broker holds licenses from major regulators such as FCA or ASIC, and evaluate its regulatory status, historical records, and overall rating together. You can also check all regulatory information and performance under different regulators on the WikiFX platform to more comprehensively assess its actual risk level.

04-02
United States

What is WikiFX, and how does it help investors?

WikiFX is a third-party platform that provides forex broker information inquiry and risk alerts. This type of platform mainly integrates brokers' regulatory information, user feedback, and historical records, and conducts comprehensive evaluation through a multi-dimensional model to help investors quickly understand the broker's basic situation and potential risks. By using such tools, investors can conduct preliminary screening before choosing a broker, thereby reducing decision-making risks caused by information asymmetry.

04-02
United States

How should I compare different forex brokers to find the best one?

To compare different brokers, investors can make comprehensive judgments from multiple dimensions such as regulatory qualifications, overall ratings, trading environment, account conditions, and user feedback. In general, priority should be given to regulatory status and license information, followed by WikiFX ratings and various indexes (such as risk control, software, and business indexes). At the same time, trading conditions (such as spreads and execution speed) and account information (such as minimum deposit and account types) should also be compared. In addition, user reviews, exposure records, and risk assessment information can also be considered to evaluate broker safety and trading experience from multiple aspects. The WikiFX platform also provides multi-dimensional broker comparison tools. Users can select different brokers for visual comparison and comprehensive analysis, so as to make decisions more efficiently.

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
View More
Write a Review
1
Customer ServiceDownload AppScroll to TopTOP

Chrome

Chrome Extension

Global Forex Broker Regulation Query

Browse the forex broker websites and identify the legit and fraud brokers accurately

Install

Select Country/Region
United States
※ WikiFX compiles data from publicly available sources and user contributions. While we endeavor to maintain its accuracy, we do not warrant the information's completeness, accuracy, or timeliness, as it may become outdated. Investors are strongly advised to verify critical details with official sources before making any decisions.
You are visiting the WikiFX website. WikiFX Internet and its mobile products are an enterprise information searching tool for global users. When using WikiFX products, users should consciously abide by the relevant laws and regulations of the country and region where they are located.
consumer hotline:006531290538
Official Email:support@wikifx.com;
Mobile Phone Number:234 706 777 7762;61 449895363
Telegram:+60 103342306
Whatsapp:+852-6613 1970;
License or other information error corrections, please send the information to:qa@wikifx.com
Cooperation:business@wikifx.com