The research provided us with no information about their whereabouts or their licenses, as well as their contact information, or license numbers. So our initial impression was that they are not to be trusted – and we were right. As you read this review, you will see why.
Phoenixus is an online broker. That’s all we know about them from their website. Instead of listing their legal documentation, they list their mission and values. This tells us a lot about their trustworthiness. Even their statements in “about us” are vague, which repeat the same words, messages, and vagueness throughout the whole page.
They call themselves the leading financial institution in Europe but fail to provide any kind of proof. On one page, they say they provide forex and CFDs, while on their assets page, they list almost every tradable asset online.
Phoenixus – No regulations, only KYC and AML
The first sign of a scammer broker is their lack of regulation and emphasis on Anti-money laundering laws and Know your customer policy. What does this mean? Well, they don’t want to be regulated by a real financial institution; thus they use the vagueness of AML and KYC for their advantage.
They will ask you to send their documentation, including a photo ID and pictures of your credit cards. Do not fall for this, as this is their way of stealing from you without any responsibilities afterward. Since you will willingly send documents to them, they have the right to use it against you in court. Scammers always do the same thing – so trust us when we say they are not real.
Phoenixus Scam – Account types
One thing that seems normal about Phoenixus is their regular amount of account types: four. They have a basic, silver, gold, and VIP account available for their traders.
Basic
Minimum deposit: $200-3000
Education: 3 sessions
Assets: 100+
Silver
Minimum deposit: $3000-10000
Education: unlimited sessions
Assets: 200+
Signals: 5 VIP
Withdrawals: 5 free
Gold
Minimum deposit: $10000-50000
Education: unlimited sessions
Assets: 200+
Signals: 5 VIP weekly
Withdrawals: 10 free
VIP
Minimum deposit: $50000+
Education: 10 sessions
Assets: 100+
Signals: 3 VIP weekly
Withdrawals: First free
Does anything look weird on this list? Well yes, the fact that the most expensive VIP account has the worst kind of advantages – only ten sessions, 100+ assets, 3 VIP signals, and only one free withdrawal. The basic one seems even better than this.
Why? Well, because they probably made a mistake while copy-pasting from some other broker. Or, they want you to think that VIP is not worth it and deposit to the Silver account to steal everything from you. After all, what kind of real trader would deposit $50,000 into an account that’s worse than the $3,000 one? None.
These types of brokers go after inexperienced traders who will deposit the minimum or close to it, only to take the money and never call them back. At this point, it’s very obvious – Phoenixus is a scam.
Assets and Trading Instruments – Scammers Phoenixus
Like every other scammer online, Phoenixus has a list of several assets with no actual information about them. The only information included in the general description of what each asset is, instead of writing what kind of real assets they offer, like bitcoin, majors, etc. The available descriptions are there to confuse the beginner traders and make them believe that this is all they need to know. So, when the account manager calls you, they will give you whatever information you need to hear about depositing. These are some of the regular scammer strategies.
Conclusion – If you want to get scammed, Phoenixus is for you
We can’t say much other than we found an obvious scammer online – Phoenixus. Invest with them at your own risk since we a guarantee they will end up stealing from you.
Their reviews and comments online provide the same kind of information we gathered ourselves. They are liars and scammers – not even good ones.
Overall, this is a good broker except that their withdrawals have great delays. Very slow withdrawal process, it actually takes weeks before I got mine so I closed my account and looked for a new broker instead.
Slow withdrawals
Overall, this is a good broker except that their withdrawals have great delays. Very slow withdrawal process, it actually takes weeks before I got mine so I closed my account and looked for a new broker instead.
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Bad company
I got a cold call from this company. People are very arrogant. Have forced me to provide bank details over the phone.
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Worst company
Worst trading company. Avoid them.
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They don't let me withdraw
They are just after deposits and won’t let you withdraw money. I should know, I have traded with them and become a victim of their schemes.
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Worst services
Do not believe on whatever endorsement this broker have. Their services are really one of the worst I ever have in forex trading.
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