Phoenix Markets Review 2020

Phoenix Markets Rated 3/5
learn more Learn more about eToro. 75% of retail investor accounts lose money when trading CFDs with this provider.
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Phoenix Markets Guide - Read our In Depth Phoenix Markets Review

This Phoenix Markets review was written by industry experts with over 20 years of financial experience in Forex trading, CFD trading, Spread Betting, Social trading, Share Dealing.

Phoenix Markets are an online broker founded in 2013 offering Forex trading trading, CFD trading trading, Spread Betting trading, Social trading trading, and Share Dealing trading.

Phoenix Markets are a global broker and have a head office in Cyprus.

When trading in the financial markets it can be very time consuming to find a broker that meets your needs.

Often you have to visit and read many broker websites all of which have different uses of language. The wording can be very confusing. In our review of Phoenix Markets we breakdown the pros and cons. What Phoenix Markets are able to offer, what countries Phoenix Markets are available in. Who Phoenix Markets are regulated by and more.

Having a reliable and capable broker is crucial to your success in online trading. Make sure that your broker is not fake or unreliable to avoid losing your investment. Ensure that your needs fit the profile of your broker as well, in order for you to have a good working profitable relationship.

Benefits of trading with Phoenix Markets

Open Phoenix Markets's Website

Your capital is at risk

At the bottom of this review you can also learn about some pretty good alternatives to Phoenix Markets

With this Phoenix Markets review we hope to help you see if Phoenix Markets is a good fit for you.

It is a common myth that online trading is confusing. It is only difficult for people who have not done the research. In this article, you will learn important information regarding Phoenix Markets that will help you get off to a good start in the world of online trading.

Phoenix Markets Review Table of Contents

Phoenix Markets review
What you should know

Phoenix Markets offer five ways to trade: Forex trading, CFD trading, Spread Betting, Social trading, Share Dealing.

With Phoenix Markets you will need a minimum deposit of $500. You can sign up for a demo account to acquaint yourself with Phoenix Markets platform.

Phoenix Markets are able to accommodate various levels of traders whether you are experienced or a beginner.


Phoenix Markets review
Are Phoenix Markets safe?

When choosing a broker like Phoenix Markets the administrative body and regulatory status of the broker is very important. Brokers who conduct trades without supervision of a regulatory body do so at their own discretion. Any capital you invest is at risk.

Established in 2013, and in operation for 7 years Phoenix Markets have a head office in Cyprus.

Phoenix Markets is regulated. This means Phoenix Markets are supervised by and is checked for conduct by the Cyprus Securities and Exchange Commission (CySEC) regulatory bodies.

Regulated brokers will not manipulate market prices. When you send in a withdrawal request to Phoenix Markets, this will be honored. If Phoenix Markets violate any regulatory rules their regulated status could be stripped.

Any payments funded to Phoenix Markets accounts by traders are held in a segregated bank account.

For added security Phoenix Markets use tier-1 banks for this. Tier 1 is the official measure of a banks financial health and strength.

Try creating two accounts when you are working with Phoenix Markets. One is the real account, with your real money and the other is your demo account. The demo account is your experimental account.

Open a demo account Visit Phoenix Markets

Your capital is at risk

Full disclosure: We may receive a commission if you sign up with a broker using one of our links.

How Phoenix Markets as a Company Compare Against Other Brokers

Broker phoenixmarkets eToro IC Markets Trading212
Year Established 2013 2006 2007 2006
Head Office Cyprus Cyprus, UK Australia UK
Regulation Cyprus Securities and Exchange Commission (CySEC) Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC) Australian Securities and Investment Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) Financial Conduct Authority (FCA), Financial Supervision Commission (FSC)
Used By 10,000+ 12,000,000+ 60,000+ 14,000,000+
Negative balance protection No Yes Yes Yes
Guaranteed Stop Loss No No No Yes
Learn More Visit Phoenix Markets Visit eToro Visit IC Markets Visit Trading 212
Risk Warning Your capital is at risk 75% of retail investor accounts lose money when trading CFDs with this provider. Losses can exceed deposits CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Phoenix Markets review
Phoenix Markets Pros and Cons

What we like about Phoenix Markets

  • Used by over 10,000 traders
  • Established in 2013
  • Regulated by Cyprus Securities and Exchange Commission (CySEC)
  • Min. deposit from $500

What we don't like about Phoenix Markets

Phoenix Markets review
Phoenix Markets Regulation and Licensing in more detail

We have checked and Phoenix Markets is regulated and supervised by reputable organisations. You are able to check every Phoenix Markets supervisory and regulatory body given below. Regulation gives you some recourse for those who have issues with Phoenix Markets. Regulatory authorities protect the traders with things like reimbursement schemes that regain the client's investment in the event the broker becomes insolvent.

The brokerage firms have to comply with a variety of rules and criteria determined by the recognized international authority with the intention to provide secure trading and stay licensed. The whole notion of regulation is to protect Phoenix Markets traders and provide a safe trading environment.

Phoenix Markets is governed and supervised by reputable financial regulatory bodies. Regulatory bodies monitor the behavior of the brokers and if things go wrong they will take necessary action. Before trading online with a broker such as Phoenix Markets you should be sure they're legitimate online agent.

Phoenix Markets review
Phoenix Markets Fees Explained

  • Phoenix Markets withdrawal fees varies on payment method
  • Phoenix Markets does charge a fee for inactive accounts.
  • Phoenix Markets does charge deposit fees.

Brokers offer state of the art online trading platforms, mobile trading apps, financial research tools and educational resources. For a brokerage to maintain these services and earn revenue as a company, brokers may charge clients various fees.

How Phoenix Markets Fees Compare Against Other Brokers

Broker phoenixmarkets eToro IC Markets Trading212
Min Deposit 500 200 200 1
Withdrawal Fees varies Yes No No
Inactivity Fees Yes No No
Deposit Fees No Varies No
CFD Commission Fees No Yes No

Phoenix Markets review
Phoenix Markets Minimum Deposit

Phoenix Markets require a minimum desposit of 500 GBP/USD when opening an Phoenix Markets trading account.

A minimum deposit is the minimum amount of money required by Phoenix Markets to open a new online brokerage account with them.

Dont be scared off by brokers like Phoenix Markets charging a minimum deposit to open a trading account. Brokers that charge higher minimum deposits often offer additional premium services on there platforms that are not available for free on other platforms.

Brokers that offer lower minimum deposits are generally geared towards a more mainstream audience that do not require some of the more advanced features and research tools.

Brokers that do not charge minimum deposits do so usually to attract new customers. They have to make some way, so transaction commissions and other fees may be higher with a low minimum deposit account.

Brokers that require a larger minimum deposit amount usually offer a greater range of trading features on their platforms. These brokers often have more in depth technical analysis and research tools and better risk management features.

As more and more online trading platforms have entered the market, minimum deposit requirements to open a live trading account have gone down as an increasing number of brokers compete for new clients.

Depending on the type of trading account you opt for some brokers require a minimum deposit as high as 6500 GBP/USD. Some brokers can go as high as 10,000 GBP/USD.

Phoenix Markets review
Phoenix Markets Withdrawal Fees

Phoenix Markets withdrawal fees vary depending on your selected withdrawal payment method.

Each broker has their own specific withdrawal rules on how your funds can be withdrawn from your trading accounts.

This is because each brokerage firm will have different withdrawal methods and each payment provider may have differing transfer processing fees and processing times.

Phoenix Markets for example allow you to withdraw your funds to a Skrill account, a Neteller account, and a bank account via a wire transfer.

Phoenix Markets review
Phoenix Markets Inactivity Fees

Phoenix Markets does charge a fee for inactive accounts.

An account inactivity fee is a fee charged to the registered brokerage client.

Brokers may have certain trading activity requirements that under the terms and conditions of the accounts, clients may have to fulfill.

If a clients trading account dues not have any buying and selling over a period of time as dictated by the broker an inactivity fee may be due.

Inactivity fees are not specific to online trading accounts. Many financial service companies may charge inactivity fees. Please check on the brokers website and make sure you are aware of and are happy with all the services and fees you may be charged.

If you are no longer using your trading account close it with the brokers customer support. And make sure you have a confirmation that any remaining fees are not due.

Depending on the type of account you have signed up for you can only be charged an inactivity fee under certain circumstances. As part of a brokers regulation they are required to clearly disclose any inactivity fees.

Some brokerage firms may charge inactivity fees as compensation for maintaining your account on their expensive trading platforms, in an attempt to claw back revenue for the lack of commission fees from your trading.

Phoenix Markets review
Phoenix Markets Desposit Fees

Phoenix Markets does charge deposit fees.

Some brokers may charge a fee when you deposit funds from your payment method to your trading account. This is because the payment method which you use to fund your account may accrue a fee. The fee may be a fixed fee when you deposit a specific fiat currency to your account. For example fees are known to be high when depositing funds from a credit card. This is if your broker accepts funding your account via a credit card.

Phoenix Markets review
Phoenix Markets Commission Fees

Phoenix Markets does charge commission on CFD instruments.

A broker may charge a commission fee as a service charge for facilitating the buying and selling of financial assets through your trading account.

A brokerage may make most of their revenue from charging registered traders a commission fee on client transactions.

Commission fees can differ depending on the trading type, financial asset type and what level of trading account you have.

Broker commissions are charged if the brokerage fulfills an order, cancels an order or modifies and order on your behalf.

If a market order is not fulfilled by your brokerage usually no commission is charged.

Be aware that if your order is modified or canceled, your brokerage may charge a commission fee.

Phoenix Markets review
What can you trade with Phoenix Markets?

Be aware that Different entities under Phoenix Markets Brand offer different trading instruments due to regulatory restrictions. Trading instruments offered may differ based on the country of residence of the Client.

You can trade a wide variety of instruments with Phoenix Markets over 97 instruments infact.

If you are looking at trading currency pairs Phoenix Markets offer over 67 currency pairs.

Compare Phoenix Markets with eToro and IC Markets below.

Your capital is at risk

How Phoenix Markets Trading Options Compare Against Other Brokers

Broker phoenixmarkets eToro IC Markets Trading212
Instruments Available 97 100 232 3000
Platforms MT4,mac,Android.iPhone/iPad Web Trader, Tablet & Mobile apps MT4, MT5, Mirror Trader, ZuluTrade, Web Trader, cTrader, Mac Web Trader, Tablet & Mobile apps
FX / Currencies        
Forex pairs offered 67 50 65 177
Major Forex pairs Yes Yes Yes Yes
Minor Forex pairs Yes Yes Yes Yes
Exotic Forex pairs Yes Yes Yes Yes
Cryptocurrencies Yes Yes Yes Yes
Commodity CFDs        
Commodities Offered 0 0 19 14
Metals Yes Yes Yes Yes
Energies Yes Yes Yes Yes
Agricultural Yes Yes Yes Yes
Indiced & Stock CFDs        
Stocks Offered 379 957 100 1731
UK Shares Yes all Major Yes No Yes
US Shares Yes all Major Yes Yes Yes
German Shares Yes all Major Yes Yes Yes
Japanese Shares No Yes Yes Yes
Risk Warning Visit Phoenix Markets
Your capital is at risk
Visit eToro
75% of retail investor accounts lose money when trading CFDs with this provider.
Visit IC Markets
Losses can exceed deposits
Visit Trading 212
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Phoenix Markets review
Trading on Phoenix Markets web platforms and other applications

Phoenix Markets offer the popular MT4 forex trading platform. To see a list of the top MT4 brokers, see our comparison of MT4 brokers.

An Phoenix Markets IOS or Android native App on your phone or tablet will Work quicker Than the Avatrade Website on the same device

Phoenix Markets also offer mobile apps, for Android and iOS making it easier to keep an eye on and execute your trades while you’re on the move.

Moreover Phoenix Markets offers Sirix a web based platform enabling you quick and efficient trading from whichever online access you can have available.

See Phoenix Markets's platforms

Phoenix Markets Trading benefits :

  • Allows scalping
  • Offers STP

Phoenix Markets Trading Accounts Offered :

  • Demo account
  • Standard account
  • ECN account
  • STP account
  • Islamic account

Can I try Phoenix Markets before I buy?

Phoenix Markets offer a demo account so you can try before putting down funding payments. Open a practice account & learn to trade

Your capital is at risk

Phoenix Markets withdrawal and funding methods.

Please note that the list of payment methods below depend on the Phoenix Markets Entity and the Clients Country of Residence.

Phoenix Markets offer the below funding payment methods. learn more about Phoenix Markets

  • Credit cards
  • Bank Transfer
  • Skrill
  • Neteller
Broker phoenixmarkets eToro IC Markets Trading212
Bank transfer Yes Yes Yes Yes
Credit Cards Yes Yes Yes Yes
Paypal No Yes Yes Yes
Skrill Yes Yes Yes Yes
Payoneer No No No No
Neteller Yes Yes Yes No

How can I start trading with Phoenix Markets?

When opening a trading account with Phoenix Markets, you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on Phoenix Markets trading platforms here.

Your capital is at risk

Performing trades with Phoenix Markets

Phoenix Markets allow you to execute a minimum of trade of varies. This may vary depending on the account you open. Phoenix Markets allow you to execute a maxium trade of varies. As Phoenix Markets offer ECN and STP execution, you can expect very tight spreads with more transparency over the price you‘re paying to execute your trades.

As with most brokers, margin requirements do vary depending on the instruments.

Phoenix Markets Leverage and Phoenix Markets CFDs Explained

let's take a look at some of the basics of using Phoenix Markets leverage.

Phoenix Markets offer CFD are a leveraged product for this example we describe ten times leverage.

So you have a ten thousand dollar position but you only tie up a thousand dollars a tenth of the value on your account. You have a situation where a small sum of money is controlling a much bigger financial position. This is your leverage.

So what effect does leverage have on your profits and losses well put simply it magnifies them in both directions.

Phoenix Markets leverage magnifies both profits and losses when trading.

Let's say for example you buy ten thousand dollars worth of General Electric (GE) using contracts for difference ( CFDs ) using the Phoenix Markets trading platform.

let's say General Electric (GE) rises 10% because its results are positive your position which was worth ten thousand dollars is now worth $11,000.

It's grown by $1000 10% in value this represents a hundred percent increase on the funds initially committed on your leverage CFD trade.

Our initital investment of ten thousand dollars for the trade and has made a thousand dollars in profit because the price is up ten percent.

The Phoenix Markets leverage goes both ways. If General Electric (GE) Falls 10% on week results your position which was worth ten thousand dollars is now worth only nine thousand dollars. It has fallen by a thousand dollars.

Phoenix Markets CFDs are typically used for short to medium term trades. For example Phoenix Markets intraday trading.

Education resources at Phoenix Markets

To trade effectively with Phoenix Markets, it's important to get a have a good understanding of the Phoenix Markets trading tools and the markets.

Phoenix Markets offer a good selection of educational resources. Spend some time reading up on how the markets and trading works, making active trades, active trading times, and managing risk.

Having an analytical approach may be a good way to approach trading with Phoenix Markets.

Take time to look around the Phoenix Markets platforms and train yourself to think more systematically and logically about the markets. It's a new skill-set for many, but it is what the market requires of you.

Customer Support at Phoenix Markets

Phoenix Markets support a wide range of languages including English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian,Hindi, Hebrew, Arabic, Russian

Phoenix Markets have a A grade support rating because Phoenix Markets offer over three languages.

Livechat Support at Phoenix Markets

We tested the Phoenix Markets live chat and it works well. We sent messages to Phoenix Markets livechat through their app and website and recieved a response within 8 minutes.

We tested communicating with Phoenix Markets support in multiple languages in multiple countries. Phoenix Markets where able to resolve our customer issues.

Email Support at Phoenix Markets

We sent several emails to Phoenix Markets and answer times overall were excellent. The fastest response from Phoenix Markets was less than 40 minutes and the slowest response was 9 hours. Support response times may vary for you with Phoenix Markets, but this was our experience sending 10 emails at varying times.

The team resolved and answered our queries. Overall good email support from Phoenix Markets.

Phone Support at Phoenix Markets

We called Phoenix Markets and the call was answered very quickly. The call was answered in less than 5 minutes.

The Phoenix Markets phone support team were able to successfuly answer our questions and issues over the phone. We tested the multilingual Phoenix Markets team by calling in varying languages. Phoenix Markets made an effort to make sure our queries were answered.

Overall the phone support from Phoenix Markets was okay.

See how Phoenix Markets Support Compares Against Other Brokers

Broker phoenixmarkets eToro IC Markets Trading212
Support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
Languages English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian,Hindi, Hebrew, Arabic, Russian English, German, Spanish, French, and Italian English, Japanese, Chinese, Polish, Afrikans, Danish, Dutch, German and more English, Deutsch, Nederlands, Espanol, Francais, Italiano, Polski, Srpski, Norsk, Svenska, Cesky, РУССКИЙ, Romana, Turkce, العربية, 中文
Learn More Visit Phoenix Markets Visit eToro Visit IC Markets Visit Trading 212
Risk Warning Your capital is at risk 75% of retail investor accounts lose money when trading CFDs with this provider. Losses can exceed deposits CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

What you will need to open an account with Phoenix Markets

As Phoenix Markets is regulated by Cyprus Securities and Exchange Commission (CySEC), every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you'll likely be asked for the following, so it's good to have these handy:

Be aware Please kindly note that the expiration date of Proof of address document for different entities under Phoenix Markets Brand may be different.

  • A scanned colour copy of your passport, driving license or national ID
  • A utility bill or bank statement from the past three months showing your address

You'll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it's best to put aside at least 3 minutes or so to complete the account opening process.

While you might be able to explore Phoenix Markets's platform straight away, it's important to note that you won't be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.

To start the process of opening an account with Phoenix Markets you can visit the Phoenix Markets trading platform here.

CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you're prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from https://www.phoenixmarkets.com/ on 12th August 2018.

Phoenix Markets review
Is Phoenix Markets A Good Broker?

We spent over 3 months examining Phoenix Markets in depth. Although we found some very useful aspects of the Phoenix Markets platform that would be useful to some traders. Overall our feeling is that you would be better served with an alternative Phoenix Markets broker.

  • Phoenix Markets have a good track record of offering Forex trading, CFD trading, Spread Betting, Social trading, Share Dealing.
  • Phoenix Markets has a history of over 7 years.
  • Phoenix Markets has a reasonable sized customer support of at least 10.
  • Phoenix Markets are regulated by Cyprus Securities and Exchange Commission (CySEC). This means Phoenix Markets fall under regulation from a jurisdiction that can hold a broker responsible for its misgivings; or at best play an arbitration role in case of bigger disputes.
  • Phoenix Markets have regulation from a Tier 1 reputable country.
  • Phoenix Markets has the ability to get deposits and withdrawals processed within 2 to 3 days. This is important when withdrawing funds.
  • Phoenix Markets have an international presence in multiple countries. This includes local Phoenix Markets seminars and training.
  • Phoenix Markets are able to hire people from various locations in the world who can better communicate in your local language.

Phoenix Markets Risk Disclaimer

Your capital is at risk

Phoenix Markets review
Phoenix Markets not quite right?

If after reading this Phoenix Markets review, Phoenix Markets does not fulfill your needs check out these Phoenix Markets Alternatives.

Click here to view the best Phoenix Markets Alternatives

We have spent years researching the best alternatives to Phoenix Markets. Click the links below to learn more.

If you feel some of the above Phoenix Markets are not quiet what you are looking for or perhaps you would just like to see some alternatives. See our highly rated list of Phoenix Markets alternatives below.

Phoenix Markets review
Related Phoenix Markets Vs Comparisons

We have covered allot in this Phoenix Markets review, If you want to see how Phoenix Markets compares side by side with other brokers check out our Phoenix Markets Vs pages.

If you would like to see how Phoenix Markets stands up against other brokers you can read some of our Phoenix Markets comparisons below. We compare side by side some of our top rated Phoenix Markets versus comparisons. Read our indepth Phoenix Markets VS pages below.

Phoenix Markets review
PHOENIX MARKETS Frequently Asked Questions

Can I try Phoenix Markets before I buy?

Phoenix Markets offer a demo account so you can try the Phoenix Markets platform before you put down a payment. Learn more here

What funding methods do Phoenix Markets accept?

Please note that the list of payment methods below depend on the Phoenix Markets Entity and the Clients Country of Residence.

Phoenix Markets offer the following funding payment methods accept Credit cards, Bank Transfers, Skrill, Neteller, Wire Transfer, among other payment methods.
Learn more here

Your capital is at risk

Is Phoenix Markets safe?

Phoenix Markets are considered safe as they are regulated by and checked for conduct by the Cyprus Securities and Exchange Commission (CySEC). Any payments funded to Phoenix Markets accounts by traders are held in a segregated bank account. For added security Phoenix Markets use tier-1 banks for this. Tier 1 is the official measure of a banks financial health and strength.

Is Phoenix Markets trading good?

Phoenix Markets is considered good and reputable to trade with. Phoenix MarketsPhoenix Markets is used by over Phoenix Markets active traders. Phoenix Markets offers Forex trading trading, CFD trading trading, Spread Betting trading, Social trading trading, and Share Dealing trading. Minimum deposit with Phoenix Markets is 500.

Is Phoenix Markets trading Legit?

Phoenix Markets was founded in Cyprus in 2013. Phoenix Markets has been facilitating trade on the financial markets for over 7 years. Phoenix Markets offers clients Forex trading trading, CFD trading trading, Spread Betting trading, Social trading trading, and Share Dealing trading. All funds deposited to Phoenix Markets are held in segregated tier 1 bank accounts for security. Phoenix Markets is regulated by Cyprus Securities and Exchange Commission (CySEC) so can be considered legit.

Is Phoenix Markets a good broker?

Phoenix Markets is overseen by the top tier financial regulators Cyprus Securities and Exchange Commission (CySEC) so can be considered a good broker. Phoenix Markets allows Forex trading trading, CFD trading trading, Spread Betting trading, Social trading trading, and Share Dealing trading.

Is Phoenix Markets trustworthy broker?

Phoenix Markets can be considered trustworthy. All money funded to Phoenix Markets is placed into a segregated tier 1 bank account. this means your money in not held by Phoenix Markets directly but a tier 1 bank. The broker has no direct access to your funds so cannot misappropriate your money. Also Phoenix Markets is regulated by Cyprus Securities and Exchange Commission (CySEC).

What is the minimum deposit for Phoenix Markets?

The minimum deposit to trade with Phoenix Markets is 500.

How long do Phoenix Markets withdrawals take?

Withdrawing money from Phoenix Markets processing time varies but averages 2-5 days.

Is Phoenix Markets regulated?

Phoenix Markets is regulated by Cyprus Securities and Exchange Commission (CySEC).

Is Phoenix Markets a market maker?

Phoenix Markets is a market maker. Stocks, currency and other commodities and instruments will be purchased by Phoenix Markets even if no buyer is lined up.

How can I start trading with Phoenix Markets?

When opening a trading account with Phoenix Markets, you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on Phoenix Markets trading platforms here.

Is my money safe with Phoenix Markets?

Phoenix Markets is regulated by Cyprus Securities and Exchange Commission (CySEC). One of the most important criteria for traders when choosing a broker like Phoenix Markets is the regulatory body and regulatory status of the broker. Brokers who conduct business without regulation do so at their own discretion and pose a direct risk to the security of their clients money.

Regulated brokers will not manipulate market prices. When you send in a withdrawal request to Phoenix Markets, this will be honored. If they violate any regulatory rules their regulated status can be stripped.

Is Phoenix Markets a con?

Phoenix Markets is regulated and well established having been in business for over 7 years. Phoenix Markets is definitely not a con.

Can you make money with Phoenix Markets?

Although traders have had great success with Phoenix Markets. Trading on the financial markets with Phoenix Markets is not a get rich scheme. If you educate yourself, practise with a demo account and carefully plan your trading your chance of success will greatly increase. Never trade with money you cannot afford to lose. Your capital is at risk.

Does Phoenix Markets have fees?

Phoenix Markets withdrawal fees varies on payment method. Phoenix Markets does charge a fee for inactive accounts. Phoenix Markets does charge deposit fees.

When was Phoenix Markets founded?

Phoenix Markets was founded in 2013.

How many people use Phoenix Markets?

Phoenix Markets is used by over 10000 registered traders.

What is Phoenix Markets Headquarters country?

Phoenix Markets has its head quarters office in Cyprus.

Does Phoenix Markets offer negative balance protection?

Phoenix Markets does not offer negative balance protection. With Negative balance protection means traders cannot lose more money than they have deposited.

Does Phoenix Markets offer guaranteed stop loss?

Phoenix Markets does not offer guaranteed stop loss. With guaranteed stop loss protection risk is managed. Traders are guarenteed to close your trade at your specified price. Stop Loss orders are guaranteed only during market hours and under normal trading conditions.

Does Phoenix Markets allow scalping?

Phoenix Markets offers scalping.

Does Phoenix Markets allow hedging?

Phoenix Markets does not offer hedging.

Does Phoenix Markets offer CFD trading?

Phoenix Markets offers CFD trading.

Does Phoenix Markets offer STP?

Phoenix Markets offers STP trading.

How many people use Phoenix Markets?

Phoenix Markets is used by over 10000 traders.

Is Phoenix Markets an ECN broker?

Phoenix Markets offers ECN trading.

Does Phoenix Markets offer a demo account?

Phoenix Markets offers a demo account.

Does Phoenix Markets offer an Islamic account?

Phoenix Markets offers a Islamic accounts.

What are the funding methods for Phoenix Markets?

Phoenix Markets accept the following funding methods : Credit cards, Skrill, Neteller, Bank Transfer.

Phoenix Markets review written by Andrew Blumer and Mark Hansen

We hope you found our review of the Phoenix Markets brokerage firm useful.

This article was written by our financial editor Mark Hansen and Andrew Blumer.

Mark was previously of the Kiel Insitute and has worked with financial organisations across Europe, Australia, South East Asia, South Africa and the Middle East. Mark has over 15 years experience in financial analysis, forecasting, financial modeling idenifying new market opportunities in Stocks, CFD's, Forex and Commodities.

Andrew has a well-established career in fintech and came up with comparebrokers.co to make trading on financial markets more transparent and accessible.

Whether you want to trade Forex, Stocks, Commodities or Indices we will help you find the best online broker for you from 400+ brokers for clients based in the UK, Europe, Asia, South Africa and Australia.

Phoenix Markets review written by Mark Hansen of Comparebrokers.co