Phyntex Markets Forex Broker

Phyntex MarketsReview SummaryFounded2023Registered Country/RegionComorosRegulationNo regulationMarket InstrumentsForex, Commodities, Indices CFD, Stocks CFD, Cryptocurrencies CFD, ETFs, StocksDemo Account❌LeverageUp to 1:5000SpreadFrom 1.8 (Standard Account)Trading PlatformMT5Min Deposit$15Customer SupportPhone: + 914-294-5211Email: support@phyntexmarkets.comOnline Chat: 24/5Physical Address: 338, Jln Tun Razak, Kampung Datuk Keramat, 55000 Kuala Lumpur, Wilayah Persekutuan Kuala LumpurPhyntex Markets Information Phyntex Markets, incorporated in Comoros in 2023. As a broker offering trading in Forex, commodities, indices and various CFDs, it also offers 4 account types as well as MT5 as a trading platform. It also supports commission-free trading. But as things stand, Phyntex Markets are not regulated.Pros and ConsProsCons4 account typesNo regulationFree of commissionDemo accounts are not availableMT5 is availableIs Phyntex Markets Legit? Phyntex Markets is currently unregulated. The search revealed that its website was registered in 2023.What Can I Trade on Phyntex Markets? Phyntex offers traders currency pairs, including major currency pairs, minor currency pairs, exotic currency pairs. Commodities can be traded in precious metals and energy, such as gold, silver and crude oil. In addition, it supports trading indices, CFD stocks, CFD cryptocurrencies, CFD ETFs and stocks.Tradable InstrumentsSupportedForex✔Commodities✔Indices✔CFD Stocks✔CFD Cryptocurrencies✔CFD ETFs✔Stocks✔Bonds❌Account Types Phyntex offers 4 account types: Standard, Bonus, Premium and Cent. Among them, the lowest deposit requires $15, and the maximum leverage is 1:5000.Account TypesStandardBonusPremiumCentBonus Amount$25$25$100$15Spread from1.81.80.30.8Leverage1:50001:20001:20001:3000CommissionNoNoNoNoSwap-free Period60 Days60 Days60 Days60 DaysMax Order200200200300Phyntex Markets Fees The four accounts have a starting spread range of 0.3 to 1.8 and are commission-free. In addition, they waive swap fees for a limited period of time, 60 days.Trading Platform Phyntex supports MT5 and traders can use the desktop, mobile and tablet versions.Trading PlatformSupportedAvailable DevicesSuitable forMT5✔Skilled tradersMT4❌Deposit and Withdrawal Phyntex's payment methods include bank transfers, credit/debit cards and electronic payment systems with no deposit fees. In terms of withdrawal processing time, PSP withdrawals are usually faster and bank transfers can take several business days.