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Phemex

Operating status: SCAM

Website: https://phemex.com/

Broker violations and abnormal records
  • Jul 05, 2023 BrokersView has Reviewed that Phemex is an Unregulated Broker

    Phemex claims to be registered in Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). We searched the FINTRAC and found a matching result. But FINTRAC doesn't regulate forex and it is not a regulatory institution, so having registration does not mean being authorized to provide financial services. The truth is that Phemex is not under valid regulation by any regulators to do forex. Investors' funds in this broker are unsafe and cannot be protected by any law. Therefore, it is a scam.

    Phemex claims to be registered in Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). We searched the FINTRAC and found a matching result. But FINTRAC doesn't regulate forex and it is not a regulatory institution, so having registration does not mean being authorized to provide financial services. The truth is that Phemex is not under valid regulation by any regulators to do forex. Investors' funds in this broker are unsafe and cannot be protected by any law. Therefore, it is a scam.

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Risk Warning:

FX trading is of high risk and may not be suitable for all investors. Leverage will create additional risks and loss. Before trading, please carefully consider your investment objectives, experience level and risk tolerance. You may lose part or all of your initial investment; do not invest money that you cannot afford. Educate yourself about the risks associated with FX trading. If you have any questions, please consult an independent financial or tax advisor. Any data and information are provided "as is" and only for information purpose, not for trading or recommendations. Past performance does not predict future results.

Disclaimer:

The data contained in this website may not be real-time and accurate. The data and prices on this site are not necessarily provided by the market or exchange, but may be provided by market makers, so prices may be inaccurate and differ from actual market prices. Namely, this price is indicative price only to reflect market trend, and is unfavorable for trading purpose. The provider of the data contained in the Website shall not be liable for any loss incurred by you as a result of your trading activities or reliance on the information contained in the Website.