Phoenix24 Review : Fees, Pros and Cons, Reviews by Real Traders

Phoenix24

Operating status: SCAM

Website: https://phoenix24.io/

Broker violations and abnormal records

Mar 27, 2023 The UK regulator FCA identified Phoenix24 as a clone
The Financial Conduct Authority (FCA) issued a warning against Phoenix24 on Mar 28, 2023, identifying this broker is a clone of an FCA-regulated firm: https://www.fca.org.uk/news/warnings/phoenix24-clone-fca-authorised-firm

The Financial Conduct Authority (FCA) issued a warning against Phoenix24 on Mar 28, 2023, identifying this broker is a clone of an FCA-regulated firm: https://www.fca.org.uk/news/warnings/phoenix24-clone-fca-authorised-firm
Mar 29, 2023 BrokersView has reviewed that Phoenix24 is an unregulated broker
Phoenix24 claims to be owned and operated by FOREX CAPITAL MARKETS Ltd. authorized by the Financial Conduct Authority (FCA) with License number 217689.
However, the FCA has issued a warning against Phoenix24, identifying this broker as a clone using details of a genuine FCA-regulated firm when offering products and services to make itself appear as if it is regulated. That means Phoenix24 is misrepresenting its regulatory status to unsuspecting investors.
The truth is, Phoenix24 is not regulated by any regulators. Letting this broker hold or control investors' money is unsafe, and the money can not be protected by any laws. Therefore, it is a scam.

Phoenix24 claims to be owned and operated by FOREX CAPITAL MARKETS Ltd. authorized by the Financial Conduct Authority (FCA) with License number 217689.However, the FCA has issued a warning against Phoenix24, identifying this broker as a clone using details of a genuine FCA-regulated firm when offering products and services to make itself appear as if it is regulated. That means Phoenix24 is misrepresenting its regulatory status to unsuspecting investors.The truth is, Phoenix24 is not regulated by any regulators. Letting this broker hold or control investors' money is unsafe, and the money can not be protected by any laws. Therefore, it is a scam.

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