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Broker violations and abnormal records
On June 22, 2023, the Financial Conduct Authority (FCA) issued a warning against PhoenixTB, believing this broker might be providing financial services or products without proper authorization: https://www.fca.org.uk/news/warnings/phoenixtb
On June 22, 2023, the Financial Conduct Authority (FCA) issued a warning against PhoenixTB, believing this broker might be providing financial services or products without proper authorization: https://www.fca.org.uk/news/warnings/phoenixtbPhoenixTB claims to be operated by Lerekki Limited, which is registered with the Marshall Islands Registry (IRI) under Reg number 118342. While it is true that corresponding records exist in the IRI register, it is important to note that the offshore agency is a privately held maritime and corporate registry service provider and has no authority to issue licenses for forex trading and brokerage.
In addition, the Financial Conduct Authority (FCA) issued a warning against PhoenixTB, believing this broker might be providing financial services or products without proper authorization.
In essence, PhoenixTB is not regulated by any governing body. Entrusting this broker with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds. It is unequivocally a scam.
PhoenixTB claims to be operated by Lerekki Limited, which is registered with the Marshall Islands Registry (IRI) under Reg number 118342. While it is true that corresponding records exist in the IRI register, it is important to note that the offshore agency is a privately held maritime and corporate registry service provider and has no authority to issue licenses for forex trading and brokerage.In addition, the Financial Conduct Authority (FCA) issued a warning against PhoenixTB, believing this broker might be providing financial services or products without proper authorization.In essence, PhoenixTB is not regulated by any governing body. Entrusting this broker with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds. It is unequivocally a scam.On July 28, 2023, the Swiss Financial Market Supervisory Authority (FINMA) issued a warning against PhoenixTB, stating that this broker is not entered in its commercial register. https://www.finma.ch/en/finma-public/warning-list/phoenixtb/
On July 28, 2023, the Swiss Financial Market Supervisory Authority (FINMA) issued a warning against PhoenixTB, stating that this broker is not entered in its commercial register. https://www.finma.ch/en/finma-public/warning-list/phoenixtb/On September 4, 2023, the Financial Conduct Authority (FCA) updates its warning against PhoenixTB by adding a new domain ("phoenixtb.pro"). https://www.fca.org.uk/news/warnings/phoenixtb
On September 4, 2023, the Financial Conduct Authority (FCA) updates its warning against PhoenixTB by adding a new domain ("phoenixtb.pro"). https://www.fca.org.uk/news/warnings/phoenixtbOn September 6, 2023, the Belgian Financial Services and Markets Authority (FSMA) added PhoenixTB to its warning list as a fraudulent trading platform. https://www.fsma.be/en/warnings/beware-these-new-fraudulent-trading-platforms-1
On September 6, 2023, the Belgian Financial Services and Markets Authority (FSMA) added PhoenixTB to its warning list as a fraudulent trading platform. https://www.fsma.be/en/warnings/beware-these-new-fraudulent-trading-platforms-1On October 25 2023, The Financial Conduct Authority (FCA) added domain name used by this scam, believing this broker might be providing financial services or products without proper authorization: https://www.fca.org.uk/news/warnings/phoenixtb
On October 25 2023, The Financial Conduct Authority (FCA) added domain name used by this scam, believing this broker might be providing financial services or products without proper authorization: https://www.fca.org.uk/news/warnings/phoenixtbOn January 2, 2024, the Ontario Securities Commission (OSC) issued a warning that PhoenixTB was providing financial services or products without authorisation. You may visit: https://www.osc.ca/en/investors/warnings/phoenixtb
On January 2, 2024, the Ontario Securities Commission (OSC) issued a warning that PhoenixTB was providing financial services or products without authorisation. You may visit: https://www.osc.ca/en/investors/warnings/phoenixtb
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