Forex Financial Services
Phoenix Markets
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Overview
Forex Financial Services was founded in 2008 and is headquartered in Australia, while Phoenix Markets was established in 2013 and is based in Cyprus. Forex Financial Services holds licences including Australian Securities and investment Commission (ASIC), while Phoenix Markets is regulated by Cyprus Securities and Exchange Commission (CySEC) among others. Forex Financial Services serves 10,000+ clients worldwide; Phoenix Markets has 10,000+. The minimum deposit is $2500 at Forex Financial Services and $500 at Phoenix Markets.
| Feature | Forex Financial Services | Phoenix Markets |
|---|---|---|
| Min. Deposit | $2500 | $500 |
| Regulation | Australian Securities and investment Commission (ASIC) | Cyprus Securities and Exchange Commission (CySEC) |
| Founded | 2008 | 2013 |
| Country | Australia | Cyprus |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between Forex Financial Services and Phoenix Markets, directly affecting your bottom line as a trader. Forex Financial Services has a lower barrier to entry with a minimum deposit of $2500 (vs $500 at Phoenix Markets). Neither broker charges withdrawal fees. Forex Financial Services charges deposit fees; Phoenix Markets does not. Overall, Phoenix Markets scores higher on fees in our assessment.
| Feature | Forex Financial Services | Phoenix Markets |
|---|---|---|
| Min. Deposit | $2500 | $500 |
| Withdrawal Fees | No | No |
| Inactivity Fees | No | No |
| Deposit Fees | Yes | No |
| CFD Fees | No | No |
Platforms
Forex Financial Services offers MT4, MT5, cTrader, while Phoenix Markets supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. Forex Financial Services supports social and copy trading features, which Phoenix Markets does not offer. The two brokers are closely matched on platform offering.
| Feature | Forex Financial Services | Phoenix Markets |
|---|---|---|
| MT4 | Yes | Yes |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | MT4 | MT4,mac,Android.iPhone/iPad |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how Forex Financial Services and Phoenix Markets compare. Phoenix Markets runs regular live webinars; Forex Financial Services does not. Phoenix Markets has a video library; Forex Financial Services does not. Phoenix Markets publishes daily market commentary; Forex Financial Services does not. Phoenix Markets integrates third-party research tools (Trading Central); Forex Financial Services does not. Phoenix Markets maintains an archive of past webinars for on-demand viewing. Phoenix Markets scores higher overall in education and research.
| Feature | Forex Financial Services | Phoenix Markets |
|---|---|---|
| Forex Education | No | No |
| CFD Education | No | Yes |
| Weekly Webinars | No | Yes |
| Daily Commentary | No | Yes |
| Trading Central | No | Yes |
| Autochartist | No | No |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. Forex Financial Services accepts 2 of the tracked payment methods (bank transfer, credit/debit card), while Phoenix Markets supports 2 (bank transfer, credit/debit card). Both brokers support the same set of payment methods.
| Feature | Forex Financial Services | Phoenix Markets |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | No | No |
| Skrill | No | No |
| Neteller | No | No |
Support
Responsive customer support matters most when you're locked out of your account or need urgent help with a trade. Both Forex Financial Services and Phoenix Markets offer live chat support. Both provide phone support. Email support is available at both brokers. Both brokers offer support in 2 languages. Both brokers are comparable on support quality.
| Feature | Forex Financial Services | Phoenix Markets |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |