Phoenixmarkets Forex Broker

Note: Phoenixmarkets' official website: https://www.phoenixmarkets.fr/en is currently inaccessible normally.Phoenixmarkets Information Founded in 2005, Phoenixmarkets Company Limited is an brokerage company overseen by the Cyprus Securities and Exchange Commission (CYSEC) registered in Cyprus, operating under a Market Making (MM) License.Is Phoenixmarkets Legit？ Cyprus Securities and Exchange Commission (CYSEC) Current StatusRegulated Regulated by Cyprus License TypeMarket Making (MM) License No.203/13 Licensed InstitutionWGM Services Ltd Phoenixmarkets is overseen by the Cyprus Securities and Exchange Commission (CYSEC), operating under a Market Making (MM) License with license number 203/13. This signifies that the broker is working within the legal parameters set by the corresponding regulatory bodies.Downsides of Phoenixmarkets Unavailable Website Phoenixmarkets's official website is currently inaccessible, raising concerns about its reliability and accessibility. Lack of Transparency There is a notable lack of information about Phoenixmarkets available online. This lack of transparency is unlike other brokers, making it difficult for investors to make informed decisions. Withdrawal Difficulty According to a report on WikiFX, a user encountered significant difficulties with fund withdrawals. Despite the request being pending for over a week, the issue remained unresolved.Negative Phoenixmarkets Reviews on WikiFX On WikiFX, “Exposure” is posted as a word of mouth received from users. Traders are encouraged to review information and assess risks before trading on unregulated platforms. Please consult our platform for related details. Report fraudulent brokers in our Exposure section and our team will work to resolve any issues you encounter. As of now, there was only one piece of Phoenixmarkets exposure in total. Exposure. Demo to Real Account Success ClassificationDemo to Real Account Success Date2024-01-10 Post CountryAustraliaConclusion It may be difficult for investors to make informed decisions while trading with Phoenixmarkets for the lack of information about Phoenixmarkets available online. It is advisable to choose regulated brokers with transparent operations to ensure the safety of your investments and compliance with legal standards. When selecting a trading platform, prioritize those supervised by recognized regulatory bodies for enhanced security and peace of mind.