PhoenixFireFx Review: PhoenixFireFx.net Schemy Broker
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PhoenixFireFx Review
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Fund Safety
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Customer Support
Summary
PhoenixFireFx is a blacklisted entity. It is pointless to register with an exposed firm. We recommend investors trade with licensed brokers as they provide fund and data safety. Offshore firms, on the other hand, prematurely exit the market.
PhoenixFireFx is a dangerous broker that has recently been flagged by the Financial Conduct Authority. The scheme claims to be operating in the United Kingdom. However, this is another false claim as nobody knows the firm’s real area of operation.
The scheme alleges to be dealing with BTC trading, the e-commerce market, dropshipping operations, and the marketplace. Unfortunately, there is no evidence of investment activities. The entity promises high returns to customers.
Sadly, PhoenixFireFx fails to disclose how they aim to fulfil their promises. Avoid making blind move by signing up with regular schemes. The safety of your money should always be your main concern. You may check out these endorsed crypto companies to earn real time returns.
PhoenixFireFx.net Review
PhoenixFireFx might seem like a reliable scheme. Visiting their website you will see pop-ups indicating investors withdrawing high profits. Unfortunately, this information is unreliable. It contains only one name and where an investor resides.
Customers can send deposits to personal trading wallets. Then the broker’s professional team of traders will start generating high ROI. The scheme guarantees clients of high earnings. However, the products available are highly volatile. Hence, it is impossible to earn these advertised profits.
PhoenixFireFx fails to credit the team. There is no information regarding their trading background or their identity. Believing in them will only pose more risky because they embrace anonymity. Investment is all about statistics and not speculations.
PhoenixFireFx Trading Conditions
PhoenixFireFx claims it offers the best trading platform. However, the only thing available is a binary option interface. Binary trading is banned in several jurisdictions. The risk is extremely high and dangerous when dealing with rogue schemes. 
Investors have to predict if the price will decrease or increase. The trading software cannot trade forex or cryptocurrency. Invest with genuine firms that offer the MetaTrader interface. The trading parameters such as spread, leverage, and commission are not mentioned.
PhoenixFireFx Withdrawal and Deposits
PhoenixFireFx allegedly has multiple deposit and withdrawal methods. The firm promises a fast withdrawal process. The minimum deposit is $1000. The amount is way beyond the average market standard which is $250. However, you can still find brokers taking as low as $10.
Investors can only use crypto payments. They do not disclose the withdrawal fees or the duration it takes to process the requests. The scheme has no terms and conditions. It is impossible for the authority to oversee the activities of the firm.
Regulation Status
PhoenixFireFx is a blacklisted entity. It is pointless to register with an exposed firm. We recommend investors trade with licensed brokers as they provide fund and data safety. Offshore firms, on the other hand, prematurely exit the market.
Licensed companies operate in full transparency. They report daily transactional history to the financial bodies. Therefore, it is hard to manipulate the price. If companies malpractice the financial watchdog can revoke their license.
Additionally, brokers must meet capital requirements. Financial agencies have different capital requirements. The amount proves an entity can successfully run its operation without facing bankruptcy.
PhoenixFireFx does not have a compensation scheme. They also don’t offer negative account balance protection. Investors can lose more funds than their initial deposits. Watch out for suspicious schemes.
Final Verdict
PhoenixFireFx is unreliable and untrustworthy. The venture features fake information and even claims to be regulated. They have been exposed by a reputable financial body. The entity lacks genuine trading software. Their deposits are extremely high.
The entity also has a low trust score. The scheme does not have legitimate customer support. Invest with licensed trading companies to enjoy ideal conditions. Here is a list of some of the best crypto brokers.
