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 world of trading and broker, so many details will be confusing for you. Getting into the world of trading demands expert analyzing skills and thorough understanding. You'll get adept at all of the concepts of broker since you keep trading. For starters, you have to choose the right broker who'll be transparent with you constantly.
In this fast-paced world of stock markets and trading, you will need guidance to make proper decisions. A professionally direct investment plan will create hefty returns. Phoenix Markets is just one such platform which will take you and your investment to great heights. It is important that you understand 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 using Phoenix Markets. A good broker can multiply your first investments and provide you favorable profits. If you want to make profits, you must trade with a brokerage service that contrasts with your investment objectives.
There is no sure-fire method to guarantee profits; thus, you must carefully analyze your broker before you select them. It's a frequent misconception that all brokers will be exactly the same, but that is not true. Wrong judgment, in the beginning, can put your investments in danger.
Phoenix Markets is a broker that has forged its way successfully into the broker world. Within this review, we have attempted to collate some of the vital facets of Phoenix Markets. This review will allow you to know whether Phoenix Markets is a good fit for your own investments or not. We have attempted 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?
- 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 instruments for trading. Since its inception in 2013, Phoenix Markets has emerged as a leading player in the industry of online broker. Phoenix Markets includes a highly aggressive and full-featured trading website that is focused on forex, indices, metals, shares, commodities.
Over the past 8 years, Phoenix Markets has grown into one of the leading online brokers.
After launching in 2013, their client base has become as large as 10,000+ clients.
Phoenix Markets is the favorite for many dealers.. Our Phoenix Markets review found that they're an excellent choice for automated trading options. It's most appropriate for investors who are searching for an assortment of assets. Social and automated trading options are the core at Phoenix Markets.
Technology plays a substantial role at Phoenix Markets. Phoenix Markets offers 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 array of tools will be beneficial for most traders. Third-party partnerships also supply in-house analysis.
The educational section at Phoenix Markets is very enlightening for new traders as it permits them to have a closer look at the financial markets. Phoenix Markets caters to all sorts 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.
What you should know about trading using Phoenix Markets
Phoenix Markets is a lively platform that provides various procedures of trading. These instruments cover the monetary markets considerably. Most of the broker platforms provide fewer procedures than Phoenix Markets
If you would like to trade with Phoenix Markets, you will need a minimum deposit of $500. This deposit is mandatory if you wish to begin trading with Phoenix Markets. This 2021 Phoenix Markets review will direct you easily about trading with them.
Phoenix Markets is as flexible as another brokerage platform. Phoenix Markets is ideal for traders that want a manageable selection of cheap services. The programs provided by Phoenix Markets are third party, white-label offerings. All traders may pick from MT4,mac,Android.iPhone/iPad.
Together with everything, Phoenix Markets has multiple benefits to new and verteran traders and should be investigated. There is no minimum time over which a trade must be kept available. The agents offer premium client service which rewards customers with advantages.
Many less reputable brokers try to pressurise consumers into larger financing for superior services. Phoenix Markets, on the other hand, is more concentrated on trading volume. Dealers can expect trading conditions to be fair, honest and transparent. The more lots traded by the consumer, the more advantages will become available.
Phoenix Markets accounts are available globally and provides excellent service everywhere they have customers. 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 2006, Phoenix Markets has been in operation for 8 years, they are headquarted in Cyprus.
Phoenix Markets is regulated by Cyprus Securities and Exchange Commission (CySEC). These figures have rules that make sure that trading platforms have measures in place to maintain investor's resources procured. This usually means that Phoenix Markets users do not need to worry about their money since it's segregated and safely kept in established banks. SSL encryption secures every user's private information also.
You can make use of a choice for 2 Factor Authentications (2FA) with Phoenix Markets for heightened safety. An SMS for the confirmation code will be sent to a mobile phone. You will be asked to input this code to log into your accounts.
Another concern with financial brokers with regards to security might be manipulation of trading. This is highly disadvantageous for consumers on these platforms. Nonetheless, this is more widespread in the example of Market Maker agents who compete with customers on the stage.
Pro's & Con's Of Trading With Phoenix Markets
Every online trading platform has a few 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||USAA||XGLOBAL Markets||AxiTrader|
|Regulated By||Cyprus Securities and Exchange Commission (CySEC)||Financial Conduct Authority (FCA), The Prudential Regulation Authority (PRA)||Cyprus Securities and Exchange Commission (CySEC)||Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Dubai Financial Services Authority (DFSA)|
|Find Out More|
|Risk Warning||Your capital is at risk||Your capital is at risk||Your capital is at risk||Losses can exceed deposits|
Phoenix Markets Review - Regulation And Licencing In More Detail
Phoenix Markets is regulated by Cyprus Securities and Exchange Commission (CySEC).
Phoenix Markets, as a company, has a strong set of rules for ensuring honest trading on its own platform. For data encryption purposes, it supplies an industry-standard secure socket layer (SSL).
As per the company's privacy regulations, client data is to not be shared with any other institutions or individuals. This includes credit history and other financial details.
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 that you need to begin on Phoenix Markets is $500. This is an adequate amount for people just beginning. It's possible to make more complex residue as you cooperate. However, ensure that you know how to make the most of your money before investing larger sums.
Phoenix Markets Review - Commission And Fees Explained
Phoenix Markets is an online broker platform, and most online brokerages charge lower fees than traditional brokerages tend to charge. The reason for this is that the companies of online brokerages are scaled much better. In other words, an internet broker is not necessarily affected by the amount of clients they have.
But this does not necessarily mean that online brokers do not charge any fees. They charge fees of varying rates for a variety of services to make money. There are primarily 3 different types of penalties for this objective.
The first sort of fees to look out for are trading fees. When you make an actual trade, like purchasing a stock or an ETF, you are billed trading charges. In such cases, you're spending a spread, financing speed, or even a commission. The kinds of trading fees and the rates vary from broker to broker.
Commissions could be fixed or determined by the traded volume. On the flip side, a spread refers to the gap between the buying and selling price. Funding or overnight prices are those who are charged when you maintain a leveraged position for more than daily.
Apart from trading fees, online agents also charge non-trading fees. These are determined by the actions you undertake on your accounts. They're charged for operations like depositing cash, not trading for long periods, or withdrawals.
Generally, Phoenix Markets doesn't charge high fees compared to other online agents. For operations other brokers fee for, they do not charge a broker fee, or they charge a lesser sum. This can be beneficial for those who regularly exchange, for example weekly or daily trading.
However, non-trading fees charged by Phoenix Markets are relatively higher. Consequently, you're billed more for non-trading actions on your trading account, like deposits and withdrawal. These are not related to the purchase and sale of assets.
This Phoenix Markets review breaks down each of the applicable non-trading charges for you in detail.
Compare broker fees against Phoenix Markets
|Phoenix Markets||USAA||XGLOBAL Markets||AxiTrader|
Phoenix Markets Review - Withdrawal Fees Explained
Phoenix Markets charges a withdrawal fee when you make a bank transfer. Each time you transfer money back into your bank accounts, these withdrawal fees become important.
Withdrawal of cash is possible at any moment from the Phoenix Markets account. It's possible to withdraw up sums to the amount of your account balance, keeping aside the perimeter used. One thing to keep in mind is that you don't always need to have any money in your accounts.
Moreover, the withdrawn money will be transferred directly to the account you use to create deposits. Therefore, if you used a credit card for deposits, the withdrawn money is going to be sent to 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 case you are withdrawing cash 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 only one of the buzzing questions which run through your mind when open an account with Phoenix Markets. An inactivity fee is an amount charged to registered dealers who have not engaged in buying or selling for a while. The period considered inactive is determined by the broker.
The inactivity fee differs from one broker to another and is not standardized. If a traders account doesn't have a buying or selling transaction, it's claimed by the broker as an inactivity fee. The traders have to pay this commission under conditions and terms 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 fees are implied by Phoenix Markets, it is best for you to close the account if you are inactive. Inactivity fees are not just charged by broker firms but also many financial services.
For additional trading platforms, the inactivity fee is contingent on the sort of account you have chosen. The inactivity fee is subjected to a lot of circumstances and needs to be revealed clearly by the broker beforehand.
Phoenix Markets Review - Deposit Fees Explained
When you transfer money in your trading account by the bank account, a deposit fee can be charged by the broker. Most brokers do not charge too much money for this particular 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 simply have to finish a single-user profile questionnaire to begin depositing money into your trading account. You will need to provide an identity evidence and evidence of residency to deposit large amounts.
Phoenix Markets Review - Compare Broker Deposit Methods
|Phoenix Markets||USAA||XGLOBAL Markets||AxiTrader|
What Can You trade With Phoenix Markets?
Note: Phoenix Markets offers many different trading instruments due to regulatory restrictions in a few countries. Trading instruments offered will 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 forex pairs.
Compare Phoenix Markets, USAA, XGLOBAL Markets & AxiTrader below.
Alternatives To Phoenix Markets
If, after reading this Phoenix Markets review, Phoenix Markets does not quite fulfill your requirements check out these Phoenix Markets alternatives.
We've scoured the internet 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 definitely try Phoenix Markets before you buy. Phoenix Markets offers demo accounts for the ease of new traders. You can use this feature to build your faith in the system as well as yourself and your trading strategies.
If you sign up for a demonstration account on Phoenix Markets, you will set out with a decent amount of virtual currency. It is to establish a sense of safety and confidence in you until you decide to spend your own money.
With this digital Phoenix Marketsdemo account, you are able to experiment in any way, to whatever length you desire. You can also start positions, examine different trading strategies, and much more.
Phoenix Markets specifies on its official site that you can exchange real time stocks with your demo account.
Is Phoenix Markets safe?
You can drop all of your worries since we believe that Phoenix Markets is completely safe to use. It is in compliance with the rules of Cyprus Securities and Exchange Commission (CySEC).
Even so, Phoenix Markets does not 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 methods to finance your accounts with Phoenix Markets. The process is effortless and quick, with various payment methods at your fingertips.
You can use debit or credit cards ranging from Visa, Diners, and Maestro to MasterCard and Visa Electron. PayPal is also at your disposal for depositing funds. You must bear in mind that PayPal is not available in all place. The currencies 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 works with good conformation to. It has established plenty of measures to guard all its own investors.
Phoenix Markets protects its customers' personal and sensitive data under SSL encryption. Your funds will be kept highly secure in top-tier banks.
If you wish to further protect your accounts, it is possible to empower Two-Step Verification as well. It requires an SMS confirmation that you access your accounts.
Is Phoenix Markets trading good?
Yes, trading through Phoenix Markets is a nice and good experience indeed. It's an excellent and intuitive platform with useful features for your ease. Moreover, you can even gain access to a vast selection of educational resources and assistive material to kickstart your trading experience.
If you remain skeptical, it is possible to open a eToro demo account and evaluate the trustworthiness of the platform on your own.
Which Countries does Phoenix Markets support?
Phoenix Markets operates around the world. However, due to regulations there are some countries that Phoenix Markets does not accept clients resident in
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 broker, and its own users can vouch for it. The highlight of the platform is its fast order execution on trades.
You'll find the clean design of this platform and the admirable features 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 among the business leaders. It has over 10,000+ registered customers and over 8 years of experience on its record. They are among the world's leading trading platforms and also a dominant figure in the Fintech revolution.
It majorly owes this status to its incredible platform and broad 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 make a great deal of cash. But typically, through continual trading, you can create between 2% - 10% profit a month.
This may seem like a small number, but within the entire year, this adds to a significant number of gains. While Phoenix Markets provide you all of the tools to make money, they can't guarantee you will gain.
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 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 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 does not provide negative balance protection. If your balance is unfavorable, Phoenix Markets indicates you contact customer services. For this, you are able to correct any imbalances within your account.
Does Phoenix Markets offer guaranteed stop loss?Phoenix Markets regrettably, does not provide guaranteed stop loss. Phoenix Markets gives an opportunity for its dealers to close their trades at their specified price. Apart from that, Phoenix Markets does not provide guaranteed stop loss.
Does Phoenix Markets allow scalping?Yes, Phoenix Markets do allow scalping. Several traders throughout the world select Phoenix Markets for 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?
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.