Phoenix Markets
Virtual Brokers
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Overview
Phoenix Markets was founded in 2013 and is headquartered in Cyprus, while Virtual Brokers was established in 2008 and is based in Canada. Phoenix Markets holds licences including Cyprus Securities and Exchange Commission (CySEC), while Virtual Brokers is regulated by The Investment Industry Regulatory Organization of Canada (IIROC) among others. Phoenix Markets serves 10,000+ clients worldwide; Virtual Brokers has 10,000+. The minimum deposit is $500 at Phoenix Markets and $1000 at Virtual Brokers.
| Feature | Phoenix Markets | Virtual Brokers |
|---|---|---|
| Min. Deposit | $500 | $1000 |
| Regulation | Cyprus Securities and Exchange Commission (CySEC) | The Investment Industry Regulatory Organization of Canada (IIROC), Canadian Investor Protection Fund (CIPF) |
| Founded | 2013 | 2008 |
| Country | Cyprus | Canada |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between Phoenix Markets and Virtual Brokers, directly affecting your bottom line as a trader. Virtual Brokers has a lower barrier to entry with a minimum deposit of $1000 (vs $500 at Phoenix Markets). Virtual Brokers charges withdrawal fees while Phoenix Markets does not, giving Phoenix Markets an edge for frequent withdrawers. Virtual Brokers charges deposit fees; Phoenix Markets does not. Overall, Phoenix Markets scores higher on fees in our assessment.
| Feature | Phoenix Markets | Virtual Brokers |
|---|---|---|
| Min. Deposit | $500 | $1000 |
| Withdrawal Fees | No | Yes |
| Inactivity Fees | No | No |
| Deposit Fees | No | Yes |
| CFD Fees | No | No |
Platforms
Phoenix Markets offers MT4, MT5, cTrader, while Virtual Brokers supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. Virtual Brokers supports social and copy trading features, which Phoenix Markets does not offer. The two brokers are closely matched on platform offering.
| Feature | Phoenix Markets | Virtual Brokers |
|---|---|---|
| MT4 | Yes | Yes |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | MT4,mac,Android.iPhone/iPad | MT4,Desktop,iPhone/iOS |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how Phoenix Markets and Virtual Brokers compare. Both brokers run regular live webinars. Both provide video tutorials, including advanced content. Daily market commentary is available from both brokers. Both integrate third-party research tools including Trading Central. Archived webinars are available at both brokers for self-paced learning. Virtual Brokers scores higher overall in education and research.
| Feature | Phoenix Markets | Virtual Brokers |
|---|---|---|
| Forex Education | No | Yes |
| CFD Education | Yes | Yes |
| Weekly Webinars | Yes | Yes |
| Daily Commentary | Yes | Yes |
| Trading Central | Yes | Yes |
| Autochartist | No | Yes |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. Phoenix Markets accepts 2 of the tracked payment methods (bank transfer, credit/debit card), while Virtual Brokers supports 2 (bank transfer, credit/debit card). Both brokers support the same set of payment methods.
| Feature | Phoenix Markets | Virtual Brokers |
|---|---|---|
| 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 Phoenix Markets and Virtual Brokers 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 | Phoenix Markets | Virtual Brokers |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |