Phoenix Markets Guide – Read our In-Depth Phoenix Markets Review
Phoenix Markets Rating: 4.98 / 10
Our proprietary rating algorithm takes all of our datapoints to generate the rating. This keeps things fair and removes human bias to ensure that our users can compare brokers easily and find the best ones.
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 users in BR, KR, IR, IQ, SY, JP, US, UK
If you're a new entrant in the realm of trading and broker, so many facts will be perplexing for you. Getting into the world of trading requires expert assessing skills and comprehensive understanding. You'll acquire adept at all of the concepts of broker since you continue trading. For starters, you need to choose the ideal agent who'll be transparent with you constantly.
Within this fast-paced universe of stock markets and trading, you'll need guidance to make correct decisions. A professionally lead investment plan will generate hefty returns. Phoenix Markets is just one such platform which will take you and your investment into great heights. It's crucial to know all about Phoenix Markets before you trust them with your cash.
Phoenix Markets Guide – Quick Overview
Phoenix Markets Telephone Number:
+44 203 514 2059
Phoenix Markets Email Address:
Phoenix Markets Address:
Cyprus Securities and Exchange Commission (CySEC)
Number Of Clients:
10,000+ Phoenix Markets users and traders
Phoenix Markets LinkedIn:
Phoenix Markets Facebook:
Phoenix Markets Facebook Likes:
Phoenix Markets Twitter:
Phoenix Markets Twitter Followers:
Phoenix Markets Instagram:
Phoenix Markets Instagram Followers:
Phoenix Markets Youtube:
Your capital is at risk
|Phoenix Markets Telephone Number:||+44 203 514 2059|
|Phoenix Markets Email Address:||firstname.lastname@example.org|
|Phoenix Markets Address:|
|Regulated By:||Cyprus Securities and Exchange Commission (CySEC)|
|Number Of Clients:||10,000+ Phoenix Markets users and traders|
|Phoenix Markets LinkedIn:||https://www.linkedin.com/company/phoenix-marketscom/|
|Phoenix Markets Facebook:||https://www.facebook.com/PhoenixMarketscom/|
|Phoenix Markets Facebook Likes:||35|
|Phoenix Markets Twitter:||@phoenixmarkets1|
|Phoenix Markets Twitter Followers:||5|
|Phoenix Markets Instagram:||https://www.instagram.com/phoenixmarketsofficial|
|Phoenix Markets Instagram Followers:||11|
|Phoenix Markets Youtube:|
Your capital is at risk
Our full Phoenix Markets Review covers everything you will need to learn about trading with Phoenix Markets. A fantastic agent can multiply your initial investments and provide you positive profits. If you want to make profits, you must trade with a broker service that aligns with your investment goals.
There's absolutely no sure-fire method to ensure profits; thus, you should carefully analyze your agent before you select them. It is a common misconception that all brokers are exactly the same, but that is not correct. Wrong judgment, in the beginning, can put your investments in danger.
Phoenix Markets is a broker that has found its way successfully into the brokerage world. In this review, we've attempted to collate some of the important aspects of Phoenix Markets. This review will help you to understand whether Phoenix Markets is a good fit for your own investments or not. We have tried to breakdown all the features 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?
- Phoenix Markets Risk Disclaimer
- 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 variety of tools for trading. Since its establishment in 2013, Phoenix Markets has emerged as a leading player in the field of online broker. Phoenix Markets has a highly aggressive and full-featured trading site that is focused on currency, indices, metals, stocks , 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 the favourite of many dealers.. Our Phoenix Markets review discovered that they're an superb choice for automated trading solutions. It's most appropriate for investors that are looking for an assortment of assets. Social and automated trading solutions are the core at Phoenix Markets.
Technology plays a significant role in Phoenix Markets. Phoenix Markets offers trading on MT4,mac,Android.iPhone/iPad. Phoenix Markets is honest, 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 research.
The trader resource department at Phoenix Markets is very enlightening for new traders since it permits them to have a closer look in the financial markets. Phoenix Markets caters to all types of traders and are a must-have broker for any well-diversified method of trading.
Phoenix Markets Videos
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.
What you ought to know about trading using Phoenix Markets
Phoenix Markets is a lively platform that offers various techniques of trading online. These tools cover the financial markets considerably. Most of the brokerage platforms provide fewer methods than Phoenix Markets
If you would like to trade with Phoenix Markets, you'll require a minimum deposit of $500. This deposit is mandatory if you wish to begin trading with Phoenix Markets. This 2021 Phoenix Markets review will guide you safely about trading with them.
Phoenix Markets is as flexible as another brokerage platform. Phoenix Markets is excellent for traders that want a manageable range of cheap services. The platforms offered by Phoenix Markets are third party, white-label offerings. All traders may select out of MT4,mac,Android.iPhone/iPad.
Together with everything, Phoenix Markets has multiple benefits to new and verteran traders and should be investigated. There's no minimum time on which a transaction has to be kept open. The agents offer premium client service that rewards customers with advantages.
Many unprofessional brokers try to pressurise consumers into larger financing for premium services. Phoenix Markets, on the other hand, is much more concentrated on trading volume. Traders can expect trading conditions to be just, honest and transparent. The more lots traded by the consumer, the further advantages will come along.
Phoenix Markets accounts are available globally and provides quality service wherever they have clients. There are some select few countries where Phoenix Markets accounts are not available. Traders in the following countries cannot open or use a Phoenix Markets account:
BR, KR, IR, IQ, SY, JP, US, UK
Is Phoenix Markets Safe To Trade With?
Established in 2013, Phoenix Markets has been operating 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 keep investor's resources procured. This usually means that Phoenix Markets users don't need to worry about their money as it's segregated and safely stored in banks that are established. SSL encryption simplifies each user's private information also.
You are able to make use of a choice for Two Factor Authentications (2FA) with Phoenix Markets for increased security. An SMS for the confirmation code will be sent to your phone. You'll be asked to enter this code to log into your accounts.
Another concern with financial brokers is in respect to security may be manipulation of trading. This is highly disadvantageous for consumers on those platforms. Nonetheless, this is more prevalent in the case of Market Maker agents who compete with customers on the stage.
Phoenix Markets Risk Disclaimer
Your capital is at risk
Pro's & Con's Of Trading With Phoenix Markets
Every online trading platform has a few ups and downs, and no Phoenix Markets review would be complete without having a balanced approach. 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 withdrawal fees
- 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 English, and Chinese
Phoenix Markets Con's
- Phoenix Markets does not offer Negative Balance Protection
- Phoenix Markets does not offer Guaranteed Stop Loss
- Phoenix Markets has high minimum deposit requirements
- Phoenix Markets doesn't offer social trading
- Phoenix Markets doesn't offer copy trading
- Phoenix Markets doesn't offer trailing stop
Phoenix Markets Review - Compare Brokers Similar To Phoenix Markets
|Phoenix Markets||Skilling||hsbc online share trading||fxdd|
|Rating||4.98 / 10||4.58 / 10||3.15 / 10||7.57 / 10|
|Regulated By||Cyprus Securities and Exchange Commission (CySEC)||Cyprus Securities and Exchange Commission (CySEC), CIF license number 357/18, Financial Services Authority (FSA) under license No. SD042||Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Dubai Financial Services Authority (DFSA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of The Bahamas (SCB) number SIA-F256||Malta Financial Services Authority MFSA IS/48817. Financial Services Commission, Mauritius. License Number C117017252|
|Find Out More|
|Risk Warning||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||Your capital is at risk||75% of retail investor accounts lose money when trading CFDs with Triton Capital Markets Ltd|
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 strong set of rules for ensuring fair trading onto its own platform. For data encryption purposes, it provides an industry-standard secure socket layer (SSL).
In accordance with the organization's privacy regulations, client data is never to be shared with any other institutions or individuals. Including credit history and other financial details.
Phoenix Markets Review - AwardsAt the time of writing this Phoenix Markets review, and despite Phoenix Markets’s impressive offering, the company has surprisingly not garnered any other awards to date.
Phoenix Markets Trading Platforms
Phoenix Markets are a professional broker that has been trading for over 8 years. They offer a wide range of options in their customer accounts.
In the following table we take the main parts of any professional online trading platform and compare Phoenix Markets against Skilling, hsbc online share trading, and fxdd
Phoenix Markets Review - Minimum Deposit Required
The minimum deposit that you need to begin on Phoenix Markets is $500. This is an adequate amount for those just beginning. You can create more advanced residue as you go along. However, ensure you understand how to make the most of your cash before investing in larger amounts.
Phoenix Markets Review - Commission And Fees Explained
Phoenix Markets is an online brokerage platform, and most online brokerages charge lower prices than traditional brokerages tend to bill. The cause of this is that the companies of online brokerages are scaled much better. That is, an online broker is not necessarily influenced by the number of customers they have.
However, this doesn't mean that online brokers don't charge any fees. They charge prices of varying rates for a variety of services to make money. There are mainly three different types of fees for this objective.
The first sort of fees to look out for are trading charges. Whenever you make a genuine trade, like purchasing a stock or an ETF, you're billed trading fees. In such instances, you're paying a spread, financing rate, or even a commission. The sorts of trading fees and the prices differ from broker to broker.
Commissions could be fixed or determined by the traded volume. On the flip side, a spread denotes the difference between the buying and selling cost. Funding or overnight prices are those that are charged when you hold a leveraged position for more than a day.
Aside from trading charges, online brokers also charge non-trading fees. These are determined by the actions you undertake on your account. They're billed for operations like depositing money, not trading for long periods, or withdrawals.
Generally, Phoenix Markets does not charge high fees compared to other online brokers. For operations other agents charge for, they do not charge a brokerage fee, or they charge a lesser sum. This is beneficial for people who often trade, such as daily or weekly trading.
But, non-trading fees billed by Phoenix Markets are comparatively competitive. Consequently, you are charged more for non-trading actions on your trading accounts, such as withdrawal and deposits. These aren't about the sale and purchase of assets.
This Phoenix Markets review breaks down each of the relevant non-trading charges for you in detail.
Compare broker fees against Phoenix Markets
Phoenix Markets Review - Withdrawal Fees ExplainedPhoenix Markets doesn't charge withdrawal fees
Withdrawal of cash is possible at any moment from your Phoenix Markets account. You can withdraw up sums to the amount of your account balance, keeping aside the margin utilized. One thing to remember is that you don't necessarily need to have any cash on your accounts.
In addition, the withdrawn money will be moved directly to the accounts you use to make deposits. Thus, if you used a credit card for deposits, then the withdrawn cash will be sent into the card. Phoenix Markets will ask you to offer other withdrawal methods in case your details have changed since your deposit.
There is a minimum withdrawal amount. In the event you are withdrawing cash in different currencies from USD, a conversion fee is also important. The conversion fee will be dependent on the money you are opting to draw in.
Phoenix Markets Review - Inactivity Fees Explained
Understanding whether you will be charged inactivity fees is one of those buzzing questions that run through your mind while open an account with Phoenix Markets. An inactivity fee is an amount charged to registered traders that haven't engaged in purchasing or selling for a while. The period regarded as inactive is decided by the agent.
The inactivity fee differs from one broker to another and isn't generalized. If a traders account doesn't have a purchasing or selling transaction, it's claimed by the broker as an inactivity fee. The traders have to pay this fee under terms and conditions that they had consented while enrolling.
Phoenix Markets doesn't charge inactivity fees so you are free to use your account as needed
Even if no charges are indicated by Phoenix Markets, it's better that you close the account if you're inactive. Inactivity fees aren't only charged by broker firms but also many financial services.
For other trading platforms, the inactivity fee is contingent on the sort of account you've chosen. The inactivity fee is exposed to many conditions and needs to be revealed clearly by the agent beforehand.
Phoenix Markets Review - Deposit Fees Explained
When you transfer money into your trading account by the bank account, a deposit fee can be billed by the broker. Most agents don't 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 cash on the Phoenix Markets trading platform is easy. You simply have to complete a single-user profile questionnaire to begin depositing money into your trading account. You'll have to provide an identity proof and proof of residency to deposit substantial sums.
Phoenix Markets Review - Compare Broker Deposit Methods
What Can You Trade With Phoenix Markets?
Note: Phoenix Markets provides a lot of different trading instruments due to regulatory restrictions in various countries. Trading instruments offered may differ 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 currency pairs is of interest to you then Phoenix Markets offer over 67 currency pairs.
Compare Phoenix Markets, Skilling, hsbc online share trading & fxdd below.
Reviewing The Phoenix Markets Mobile App
Note: Phoenix Markets's mobile app has many functions and is being constantly developed. What follows was accurate at the time of writing this Phoenix Markets review.
Understand the capabilities of the mobile apps of Phoenix Markets, Skilling, hsbc online share trading & fxdd below.
Alternatives To Phoenix Markets
If, after studying this Phoenix Markets review, they do not meet your needs check out these Phoenix Markets alternatives.
We have scoured the web to find the best alternatives to Phoenix Markets. Click the links below to find out more.
Frequently Asked Questions about Phoenix Markets
Can I try Phoenix Markets before I buy?
Yes, you can most definitely try Phoenix Markets before you buy. Phoenix Markets offers demo accounts for the ease of new traders. You may use this feature to build your faith in the machine as well as yourself and your trading strategies.
If you register to get a demo account on Phoenix Markets, you may set out with a decent amount of virtual currency. It is to establish a feeling of safety and confidence in you until you choose to spend your own money.
With this virtual Phoenix Marketsdemo account, you can experiment in any way, to whatever period you wish. You can even start positions, test different trading strategies, and much more.
Phoenix Markets specifies on its official website which you can exchange real time stocks with your demo account.
Is Phoenix Markets safe?
You can drop all your worries because we believe that Phoenix Markets is completely safe to use. It is in compliance with the principles 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 account with Phoenix Markets is $500. You should have a good understanding of 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 a number of methods to fund your account with Phoenix Markets. The process is effortless and quick, with various payment methods at 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 funds. You must keep in mind that PayPal isn't available in all place. The monies Phoenix Markets
Is my money safe with Phoenix Markets?
Yes, your cash is safe and protected with Phoenix Markets. As you already know, Phoenix Markets operates with good conformation to. It has established plenty of measures to protect all of its investors.
Phoenix Markets protects its clients' personal and sensitive information under SSL encryption. Your capital will be kept highly secure in top-tier banks.
If you want to further protect your accounts, you can empower Two-Step Verification as well. It requires an SMS confirmation that you access your accounts.
Is Phoenix Markets trading good?
Yes, trading via Phoenix Markets is a pleasant and decent experience indeed. It's an excellent and intuitive platform with helpful features for your ease. In addition, you could also gain access to a vast selection of educational tools and assistive material to kickstart your trading expertise.
If you are still skeptical, it is possible to start a eToro demo account and assess the credibility of the platform for yourself.
Which Countries does Phoenix Markets support?
Phoenix Markets operates across the globe. However, due to regulations there are some countries that Phoenix Markets do accept clients resident in BR, KR, IR, IQ, SY, JP, US, UK
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 an excellent agent, and its users may vouch for this. The highlight of this platform is its quick order execution on trades.
You will discover the clean design of this platform along with 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 currently one of the business leaders. It has over 10,000+ registered customers and over 8 years of expertise on its own record. They are one of the world's top trading platforms and also a dominant figure in the Fintech revolution.
It majorly owes this status to its unbelievable platform and wide range of tools plus resources so you can invest in 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?
Through Phoenix Markets, many traders earn a great deal of money. But typically, through continual trading, you can create between 2% - 10% profit a month.
This can look to be a small number, but over the entire year, this adds to a substantial amount of gains. While Phoenix Markets provide you all the tools to make money, they cannot guarantee you will profit.
Does Phoenix Markets have fees?
Yes. To start trading using Phoenix Markets, you need to deposit $500. Certain commissions while trading also applies. Any processing fees from your bank might have 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 worldwide recognised agent with 10,000+ clients.
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 negative, Phoenix Markets indicates that you contact client services. With this, you are able to fix any imbalances within your account.
Does Phoenix Markets offer guaranteed stop loss?Phoenix Markets unfortunately, does not offer guaranteed stop loss. Phoenix Markets provides an opportunity for its traders to close their trades at their specified price. Apart from that, Phoenix Markets doesn't provide guaranteed stop loss.
Does Phoenix Markets allow scalping?Yes, Phoenix Markets do permit scalping. Several traders across the world select Phoenix Markets due to their scalping services. They offer trading on MT4,mac,Android.iPhone/iPad which let 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?
Yes, you can trade UK shares with Phoenix Markets
Can you trade US Shares with Phoenix Markets?
Yes, you can 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?
Yes, you can trade German shares with Phoenix Markets
Does Phoenix Markets accept bank transfers?
Yes, Phoenix Markets accepts bank transfers for depositing money.
Does Phoenix Markets accept credit cards?
Yes, Phoenix Markets accepts credit cards for depositing money.
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?
Yes, Phoenix Markets accepts Payoneer for depositing money.
Does Phoenix Markets accept Neteller?
No, Phoenix Markets does not accept Neteller.
Does Phoenix Markets offer Live Chat customer support?
Yes, Phoenix Markets offers customer support through live chat.
Does Phoenix Markets offer phone customer support?
Yes, Phoenix Markets offers customer support over the telephone.
Does Phoenix Markets offer email customer support?
Yes, Phoenix Markets offers customer support through email.
What languages can Phoenix Markets communicate in?
Phoenix Markets has the ability to communicate and support customers who speak: English, and Chinese
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 test your trading strategies before risking any real money. New traders can open a demo account in order to become better acquainted with the areas of Forex trading and test out some of Phoenix Markets's features before getting a live account.