The PhoenixTB website is owned by Lerekki Limited, which is registered in the Republic of the Marshall Islands. However, it is not licensed and uses the MSI compensation fund to settle disputes with clients, the certificate of membership in this organization was issued in February 2023. Other than that, the broker does not disclose any more information about the date of its establishment. As for the domain, it was also registered in February 2023 in the Bahamas. Finally, the project has no legal address, and its offices in the UK, Canada, and Switzerland tell us nothing about the actual location of the company running the site.
Does the broker really put the interests of its clients first? Can we trust its guarantees of safe trading? We will investigate the site and find out. In doing so, we will find out whether the company is really as reliable as it promises its users.
Trading Conditions
The PhoenixTB proprietary platform allows clients to trade CFDs on various underlying products. These are commodities, indices, currency pairs, and cryptocurrency. Before opening your first trade, you need to register and fund your account. You can top up your deposit using the following popular methods:
- Bank transfer.
- Visa/MasterCard.
- Cryptocurrency wallets.
- E-wallets Skrill, Neteller.
The minimum amount you can transfer to your account is $20. At the same time, the balance of the deposit must be at least $250.
The user can test the terminal on a demo account and use the economic calendar only after registration on the site. On the PhoenixTB platform, clients are provided with bonuses on a temporary, permanent, or one-time basis. The broker reserves the right to cancel the bonus at any time if in its opinion the client abuses his rights.
You can use Forex e-books, and videos for training, without registering an account. There is also a section of current-day news freely available on the site.
FAQ
Would investing in PhoenixTB offer the best returns?
You are unlikely to make a profit in risky CFD trading on an unknown platform. The broker provides clients with little relevant information, the website content consists almost entirely of adverts, and important legal documents are missing. You see constantly pop-up messages about the denial of registration to clients from the USA, because there are strict requirements for financial organizations there.
Does PhoenixTB carry out withdrawals?
Withdrawals here can be blocked by the decision of the site owner. After that, you will not be able to protect your capital with the official regulator, and you will not even be able to find out in which jurisdiction the company is located. Users often write in reviews that it is definitely not worth trusting this broker.
May I be scammed on phoenixtb.net?
The exact location of the owner's company is unknown. There are no legal documents on the site, except for a private association certificate. The domain appeared several months ago, there is no license, and without it, we may suspect the broker of unfair trading.
What's the best way to share my experience with PhoenixTB?
Fill out the form and we'll make sure your voice is heard.
How can I tell if PhoenixTB is a fraudulent company?
Do your own research and never believe those who promise you easy money.
