Phoenix Markets Guide – Read our In-Depth Phoenix Markets Review
This Phoenix Markets review has been updated for 2021 by industry experts with years of financial experience in Forex, CFDs, & Social Trading.
Please note that due to regulations, the content in this Phoenix Markets review does not apply to US users.
If you are a new entrant in the realm of trading and brokerage, so many details will be perplexing for you. Getting into the world of trading requires expert analyzing skills and comprehensive understanding. You'll get adept at all the concepts of broker since you keep trading. For starters, you have to choose the right agent who will be transparent with you always.
In this fast-paced universe of stock markets and trading, you will need guidance to make proper decisions. A professionally lead investment program will generate hefty returns. Phoenix Markets is just one such platform that will take you along with your investment to great heights. It is crucial that you know all about Phoenix Markets before you trust them with your cash.
Our full Phoenix Markets Review covers all you will need to learn about trading with Phoenix Markets. A fantastic agent can multiply your initial investments and give you favorable profits. If you would like to earn profits, you should trade with a broker service that contrasts with your investment objectives.
There is no sure-fire method to guarantee profits; therefore, you must carefully analyze your agent before you select them. It's a common misconception that all agents will be the same, but that's not true. Wrong judgment, initially, can put your investments at risk.
Phoenix Markets is a broker which has forged its way successfully into the brokerage world. In this review, we've attempted to collate some of the vital aspects of Phoenix Markets. This review will help you to understand whether Phoenix Markets is a good fit for your investments or not. We've attempted to breakdown all of the qualities and charges for your advantage.
Phoenix Markets Review, Table Of Contents
- Who are Phoenix Markets?
- Benefits Of Trading With Phoenix Markets
- Everything you should know about trading with Phoenix Markets
- Is Phoenix Markets Safe To Trade With?
- Pro's & Con's Of Trading With Phoenix Markets?
- Compare Brokers Similar To Phoenix Markets
- Regulation And Licencing In More Detail
- Phoenix Markets Awards
- Minimum Deposit Required For A Live Account With Phoenix Markets
- Phoenix Markets Commission And Fees Explained
- Compare broker fees against Phoenix Markets
- Phoenix Markets Withdrawal Fees Explained
- Phoenix Markets Deposit Fees Explained
- Compare Broker Deposit Methods
- What Can You Trade With Phoenix Markets?
- Alternatives To Phoenix Markets
- Frequently Asked Questions About Phoenix Markets
Who are Phoenix Markets?
Phoenix Markets is a foreign exchange broker headquartered in Cyprus and provides a range of instruments for trading. Since its beginning in 2013, Phoenix Markets has emerged as a top player in the field of online brokerage. Phoenix Markets includes a highly competitive and full-featured trading website that is focused on forex, indices, metals, stocks and commodities.
Over the past 8 years, Phoenix Markets has grown into one of the leading online brokers.
After establishing in 2013, their customer base is becoming as big as 10,000+ clients.
Phoenix Markets is a favorite for many traders.. Our Phoenix Markets review discovered that they're an excellent choice for automated trading options. It is best suited for investors that are searching for a variety of assets. Social and automated trading solutions are the heart at Phoenix Markets.
Technology plays a substantial role at Phoenix Markets. Phoenix Markets features trading on MT4,mac,Android.iPhone/iPad. Phoenix Markets is fair, transparent, and a well-regulated broker by the Cyprus Securities and Exchange Commission (CySEC). Their outstanding variety of resources will be beneficial for most traders. Third-party partnerships also provide in-house analysis.
The trader resource section at Phoenix Markets is very insightful for new dealers since it permits them to have a closer look at the financial markets. Phoenix Markets caters to all types of traders and are a must-have broker for almost any well-diversified approach to online trading.
If you feel that Phoenix Markets is not right for you then at the bottom of this Phoenix Markets review you wil find a lot of alternatives to Phoenix Markets.
Everything you should know about trading using Phoenix Markets
Phoenix Markets is a dynamic platform that provides various techniques of trading. These tools cover the monetary markets considerably. The Majority of the broker platforms provide fewer procedures than Phoenix Markets
If you want to trade with Phoenix Markets, you will need a minimum deposit of $500. This deposit is mandatory if you wish to start trading with Phoenix Markets. This 2021 Phoenix Markets review will direct you easily about trading with them.
Phoenix Markets is as flexible as any other brokerage platform. Phoenix Markets is great for traders that want a manageable assortment of cheap services. The programs provided by Phoenix Markets are third-party, white-label offerings. All traders can choose from MT4,mac,Android.iPhone/iPad.
Along with everything, Phoenix Markets has multiple benefits to new and verteran traders and should be investigated. There is no minimum time over which a transaction must be kept available. The brokers provide premium customer service which rewards customers with benefits.
Many less reputable brokers try to pressurise consumers into bigger financing for premium services. Phoenix Markets, on the other hand, is much more concentrated on trading volume. Traders can expect trading conditions to be fair, honest and transparent. The more lots traded by the user, the further benefits will become available.
Phoenix Markets accounts are available globally and provides excellent service everywhere they have clients. There are only a select few countries where Phoenix Markets accounts are not available. Traders in the following countries cannot open or use a Phoenix Markets account:
Is Phoenix Markets Safe To Trade With?
Established in 2013, Phoenix Markets has been open for 8 years, they are headquarted in Cyprus.
Phoenix Markets is regulated by Cyprus Securities and Exchange Commission (CySEC). These bodies have rules that make sure that trading platforms have measures in place to maintain investor's resources procured. This means that Phoenix Markets users don't need to worry about their money since it is segregated and safely kept in established banks. SSL encryption simplifies each user's personal information also.
You can make use of an option for Two Factor Authentications (2FA) with Phoenix Markets for heightened security. An SMS with the verification code will be sent to your mobile phone. You will be asked to enter this code to log into your account.
Another concern with fiscal brokers with respect to security may be manipulation of trading. This is highly disadvantageous for users on these platforms. However, this is much more widespread in the case of Market Maker agents who compete with users on the stage.
Pro's & Con's Of Trading With Phoenix Markets
Every online trading platform will have some pros and cons Phoenix Markets review would be complete without showing both sides. This Phoenix Markets review covers both the pros and cons you need to know before you make an account. A comparative analysis can put things into perspective so that you are aware of what to expect.
Phoenix Markets Pro's
- Phoenix Markets is trusted by 10,000+ clients
- Phoenix Markets doesn't charge inactivity fees
- Phoenix Markets doesn't charge deposit fees
- Phoenix Markets doesn't charge CFD fees
- Phoenix Markets offer trading on MT4,mac,Android.iPhone/iPad
- Phoenix Markets offer 97 trading instruments
- Phoenix Markets trades major forex pairs
- Phoenix Markets trades minor forex pairs
- Phoenix Markets trades exotic forex pairs
- Phoenix Markets offers trading on cryptocurrencies
- Phoenix Markets can communicate in
Phoenix Markets Con's
- Phoenix Markets does not offer Negative Balance Protection
- Phoenix Markets does not offer Guaranteed Stop Loss
- Phoenix Markets charge withdrawal fees
Phoenix Markets Review - Compare Brokers Similar To Phoenix Markets
|Phoenix Markets||ATFX||DIF Broker||Skilling|
|Regulated By||Cyprus Securities and Exchange Commission (CySEC)||Cyprus Securities and Exchange Commission (CySEC)||Financial Conduct Authority (FCA)||Cyprus Securities and Exchange Commission (CySEC), CIF license number 357/18, Financial Services Authority (FSA) under license No. SD042|
|Find Out More|
|Risk Warning||Your capital is at risk||Your capital is at risk||Your capital is at risk||CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor|
Phoenix Markets Review - Regulation And Licencing In More Detail
Phoenix Markets is regulated by Cyprus Securities and Exchange Commission (CySEC).
Phoenix Markets, as a business, has a powerful collection of rules for ensuring fair trading onto its platform. For data encryption functions, it supplies an industry-standard secure socket layer (SSL).
In accordance with the company's privacy regulations, client information is never to be shared with any other institutions or individuals. Including credit history and other financial information.
Phoenix Markets Review - Awards
- At the time of writing this Phoenix Markets review, they had not received any awards.
Phoenix Markets Review - Minimum Deposit Required
The minimum deposit you must deposit to get started on Phoenix Markets is $500. This is a decent amount for those just starting out. You can make more complex residue as you cooperate. But, ensure you know how to make the most of your cash before investing larger sums.
Phoenix Markets Review - Commission And Fees Explained
Phoenix Markets is an online brokerage platform, and many online brokerages charge lower prices than traditional brokerages tend to bill. The reason for this is that the companies of online brokerages are scaled better. In other words, an internet broker isn't necessarily influenced by the amount of clients they have.
However, this does not mean that online brokers don't charge any fees. They charge prices of varying rates for various services to earn money. There are primarily three types of penalties for this objective.
The first kind of charges to look out for are trading fees. Whenever you make a genuine trade, like purchasing a stock or an ETF, you are charged trading fees. In these instances, you are spending a spread, financing rate, or a commission. The kinds of trading fees and the prices vary from broker to broker.
Commissions can be fixed or dependent on the traded quantity. On the flip side, a spread denotes the difference between the buying and selling cost. Financing or overnight rates are people who are charged when you hold a leveraged position for more than a day.
Apart from trading charges, online agents also charge non-trading fees. These are determined by the activities you undertake in your account. They're billed for surgeries like depositing cash, not investing for lengthy periods, or withdrawals.
In general, Phoenix Markets doesn't charge high fees in comparison to other online brokers. For operations other brokers charge for, they do not charge a broker fee, or they charge a smaller amount. This is beneficial for those who regularly exchange, for example daily or weekly trading.
But, non-trading fees billed by Phoenix Markets are relatively greater. As a result, you are charged more for non-trading activities in your trading account, like deposits and withdrawal. These aren't related to the sale and purchase of resources.
This Phoenix Markets review breaks down each of the relevant non-trading fees for you in detail.
Compare broker fees against Phoenix Markets
|Phoenix Markets||ATFX||DIF Broker||Skilling|
Phoenix Markets Review - Withdrawal Fees Explained
Phoenix Markets charges a withdrawal fee if you make a bank transfer. Each time you transfer money back into your bank account, these withdrawal charges become applicable.
Withdrawal of money is possible at any moment from the Phoenix Markets account. You can draw up sums to the sum of your account balance, keeping aside the margin utilized. One thing to keep in mind is that you don't always need to have any money on your account.
Moreover, the withdrawn money will be transferred directly to the accounts you use to create deposits. Therefore, if you used a credit card for deposits, the withdrawn cash is going to be sent to the card. Phoenix Markets will ask you to offer other withdrawal methods if your details have changed since your deposit.
There is a minimum withdrawal amount. In case you're withdrawing money in various currencies from USD, a conversion fee is also important. The conversion fee will depend on the money you're opting to draw in.
Phoenix Markets Review - Inactivity Fees Explained
Understanding whether you will be charged inactivity fees is one of those buzzing questions which run through your head while open an account with Phoenix Markets. An inactivity fee is an amount charged to registered traders that haven't engaged in buying or selling for some time. The period regarded as inactive is decided by the broker.
The inactivity fee also differs from one broker to another and isn't standardized. If a traders account does not have a purchasing or selling trade, it is claimed by the broker as an inactivity charge. The traders need to pay this commission under conditions and terms they had consented while registering.
Phoenix Markets doesn't charge inactivity fees so you are free to utilize your account as needed
Even if no charges are implied by Phoenix Markets, it is better for you to close the account if you're inactive. Inactivity fees aren't only charged by broker companies but also many financial services.
For other trading platforms, the inactivity fee depends upon the type of account you have selected. The inactivity fee is exposed to a lot of circumstances and should be disclosed clearly by the agent beforehand.
Phoenix Markets Review - Deposit Fees Explained
When you move money in your trading account by the bank account, a deposit fee can be billed by the broker. Most agents do not charge too much money for this operation.
Phoenix Markets doesn't charge deposit fees so you are free to transfer smaller amounts of money in more regularly if needed
Depositing money on the Phoenix Markets trading platform is simple. You just have to finish a single-user profile questionnaire to start depositing money into your trading account. You will have to give an identity proof and proof of residency to deposit substantial sums.
Phoenix Markets Review - Compare Broker Deposit Methods
|Phoenix Markets||ATFX||DIF Broker||Skilling|
What Can You trade With Phoenix Markets?
Note: Phoenix Markets provides many different trading instruments due to regulatory restrictions in many countries. Trading instruments offered may be different based on the country of residence of the client.
Phoenix Markets has a wide variety of over 97 instruments available for you to trade with.
If trading forex pairs is of interest to you then Phoenix Markets offer over 67 currency pairs.
Compare Phoenix Markets, ATFX, DIF Broker & Skilling below.
Alternatives To Phoenix Markets
If, after studying this Phoenix Markets review, Phoenix Markets doesn't meet your needs check out these Phoenix Markets alternatives.
We've scoured the web to find the best alternatives to Phoenix Markets. Click on the hyperlinks below to learn more.
Frequently Asked Questions about Phoenix Markets
Can I try Phoenix Markets before I buy?
Yes, you can most certainly try Phoenix Markets before you buy. Phoenix Markets offers demo accounts for the ease of inexperienced traders. You may use this feature to build your faith in the machine as well as yourself and your trading strategies.
If you sign up for a demo account on Phoenix Markets, you will set out using a decent amount of virtual money. It is to establish a sense of safety and confidence in you before you choose to spend your own money.
With this virtual Phoenix Marketsdemo account, you can experiment at all, to whatever period you desire. You can even start positions, test different trading strategies, and much more.
Phoenix Markets specifies on its official site which you can trade real time stocks in a demo account.
Is Phoenix Markets safe?
You can drop all your worries since we believe that Phoenix Markets is perfectly safe to use. It's in compliance with the rules of Cyprus Securities and Exchange Commission (CySEC).
Even so, Phoenix Markets doesn't provide assured stop-loss protection.
Why does Phoenix Markets ask for my passport?
The reason that Phoenix Markets asks for your passport when you open a live account is to ensure that it remains within the rules of its regulated bodies. Because there is a lot of money moving around the world, Phoenix Markets has to be careful that they don't breach any money laundering laws and part of that is know as KYC (Know your customer). This means that at all times, Phoenix Markets must know exactly who they are dealing with so that if there is any investigation they are comfortable that they are well within the law.
How can I start trading with Phoenix Markets?
The process to start trading withPhoenix Markets is perhaps simple enough to be a cakewalk. You need to begin by signing up on the Phoenix Markets website. It will require you to fill in details pertaining to the credibility and security of your account.
Once you are done setting up your profile, you must deposit a minimum amount to get started. The minimum deposit for a live acocunt with Phoenix Markets is $500. You should have a good hold over the nuances of online trading before you set out and trade with real money.
If you are confident of your knowledge and understanding, you can open an account with Phoenix Markets.
The best way to kickstart your trading career with Phoenix Markets is to open a demo account facility before risking any real money
What funding methods do Phoenix Markets accept?
There are multiple ways to fund your accounts with Phoenix Markets. The process is effortless and quick, with different payment methods in your fingertips.
You can use credit or debit cards Which range from Visa, Diners, and Maestro to MasterCard and Visa Electron. PayPal can be at your disposal for depositing money. You have to bear in mind that PayPal is not available in all place. The monies Phoenix Markets
Is my money safe with Phoenix Markets?
Yes, your money is safe and secure with Phoenix Markets. As you already know, Phoenix Markets works with proper conformation to. It has established lots of steps to protect all of its own investors.
Phoenix Markets protects its clients' private and sensitive information under SSL encryption. Your capital will be kept highly secure in top-tier banks.
If you wish to further protect your accounts, you can empower Two-Step Verification also. It requires an SMS confirmation for you to get your account.
Is Phoenix Markets trading good?
Yes, trading via Phoenix Markets is a nice and good experience indeed. It is a great and intuitive platform with helpful features for your ease. Moreover, you could also obtain access to a vast collection of educational resources and assistive material to kickstart your trading experience.
If you are still skeptical, you can start a eToro demo account and evaluate the credibility of the platform on your own.
Which Countries does Phoenix Markets support?
Phoenix Markets operates around the globe. However, due to regulations there are some countries that Phoenix Markets can't accept clients from
Is Phoenix Markets legit?
Phoenix Markets is a legit company headquarted in Cyprus since 2013. They are regulated by Cyprus Securities and Exchange Commission (CySEC). Phoenix Markets is an acclaimed fintech company, which operates with transparency. You will not have to bear any hidden costs or be a victim to any scams.
Is Phoenix Markets a good broker?
Phoenix Markets is a great agent, and its own users can vouch for this. The highlight of the platform is its quick order execution on trades.
You will find the clean layout of the platform and the commendable features that a pleasure to work with.
Is Phoenix Markets a trustworthy broker?
Yes, Phoenix Markets is a trustworthy broker. Top-tier financial authorities regulate all operations. Over 10,000+ users registered with them can reaffirm their trustable nature.
What is the minimum deposit for Phoenix Markets?
The minimum deposit to open a live account with Phoenix Markets is $500
How long do Phoenix Markets withdrawals take?
Normally, withdrawal of money from Phoenix Markets is actioned within a couple of working days but depending on the withdrawal method chosen, it could take up to 7 working days for the withdrawal from Phoenix Markets to show in your bank account.
Are Phoenix Markets regulated?
Phoenix Markets are regulated by Cyprus Securities and Exchange Commission (CySEC)
Is Phoenix Markets a market leading broker?
Phoenix Markets is indisputably one of the business leaders. It supports over 10,000+ registered customers and over 8 years of experience on its own record. They're one of the world's leading trading platforms and also a dominant figure in the Fintech revolution.
It majorly owes this standing to its incredible platform and wide range of resources plus tools so that you can put money into capital markets.
Is Phoenix Markets a con?
No, Phoenix Markets is not a con. They are regulated by Cyprus Securities and Exchange Commission (CySEC) and must adhere to their rules. Thus, it is safe to say that Phoenix Markets is not a scam.
Can you make money with Phoenix Markets?
Using Phoenix Markets, many traders make a lot of money. But on average, through continual trading, you also can make between 2% - 10% profit a month.
This may seem to be a small number, but within the year, this adds to a significant amount of gains. Even though Phoenix Markets provide you all of the tools to earn money, they cannot guarantee that you will gain.
Does Phoenix Markets have fees?
Yes. To begin trading with Phoenix Markets, you have to deposit $500. Particular commissions while trading additionally applies. Any processing fees from your bank might need to be incurred by you.
When was Phoenix Markets founded?
Phoenix Markets was founded in 2013 in Cyprus. Phoenix Markets is regulated by Cyprus Securities and Exchange Commission (CySEC).
How many people use Phoenix Markets?
Phoenix Markets is a globally recognised broker with 10,000+ customers.
Where is the Phoenix Markets head office?
Phoenix Markets has its head office in Cyprus
Does Phoenix Markets offer negative balance protection?
No. Phoenix Markets doesn't offer negative balance protection. If your balance is unfavorable, Phoenix Markets indicates you contact client services. With this, you are able to fix any imbalances within your own account.
Does Phoenix Markets offer guaranteed stop loss?Phoenix Markets regrettably, doesn't provide guaranteed stop loss. Phoenix Markets gives a chance to its dealers to close their trade at their given price. Aside from that, Phoenix Markets does not provide guaranteed stop loss.
Does Phoenix Markets allow scalping?Yes, Phoenix Markets do allow scalping. Many traders throughout the world select Phoenix Markets for their services that are trading. They offer trading on MT4,mac,Android.iPhone/iPad which allow this.
Does Phoenix Markets allow hedging?
Yes, Phoenix Markets does allow hedging.
Can you trade energies with Phoenix Markets?
Yes, you can trade energy stocks with Phoenix Markets
Can you trade agricultural shares with Phoenix Markets?
Yes, you can trade agricultural stocks with Phoenix Markets
Can you trade cryptocurrency with Phoenix Markets?
Yes, you can trade cryptocurrency with Phoenix Markets
Can you trade metals with Phoenix Markets?
Yes, you can trade metals with Phoenix Markets
Can you trade UK Shares with Phoenix Markets?
No, unfortunately you cannot trade UK shares with Phoenix Markets
Can you trade US Shares with Phoenix Markets?
No, unfortunately you cannot trade US shares with Phoenix Markets
Can you trade Japanese Shares with Phoenix Markets?
No, unfortunately you cannot trade Japanese shares with Phoenix Markets
Can you trade German Shares with Phoenix Markets?
No, unfortunately you cannot trade German shares with Phoenix Markets
Does Phoenix Markets accept bank transfers?
No, Phoenix Markets does not accept bank transfers.
Does Phoenix Markets accept credit cards?
No, Phoenix Markets does not accept credit cards.
Does Phoenix Markets accept PayPal?
No, Phoenix Markets does not accept PayPal.
Does Phoenix Markets accept Skrill?
No, Phoenix Markets does not accept Skrill.
Does Phoenix Markets accept Payoneer?
No, Phoenix Markets does not accept Payoneer.
Does Phoenix Markets accept Neteller?
No, Phoenix Markets does not accept Neteller.
Does Phoenix Markets offer Live Chat customer support?
No, Phoenix Markets does not offer customer support through live chat.
Does Phoenix Markets offer phone customer support?
No, Phoenix Markets does not offer customer support over the telephone.
Does Phoenix Markets offer email customer support?
No, Phoenix Markets does not offer customer support through email.
What languages can Phoenix Markets communicate in?
Phoenix Markets has the ability to communicate and support customers who speak:
Does Phoenix Markets have a wikipedia page?
No, Phoenix Markets does not have an official wikipedia page.
Does Phoenix Markets offer demo accounts?
Yes, Phoenix Markets offers demo accounts so you can learn their systems before risking any real money.