Since its launch in 2013, Phoenix Markets has been providing traders with state-of-the-art trading platforms for trading forex, commodities, indices, CFDs, and other financial assets. The broker operates the STP execution model, which ensures transparency in the execution of clients’ orders. Traders are provided with useful trading tools and educational resources, while a client support team is always on hand to assist them at every point. The broker offers different trading account options with a required minimum deposit of $250, a commission fee of $10, and leverage of up to 1:30.
Phoenix Markets Review Introduction
In this Phoenix Markets review, we will take a look at some of the most important factors worth considering when choosing a forex broker for your online trading needs. This includes trading platforms, trading tools, research and education, account funding options, customer support, and broker regulation.
You may also wish to view my best forex brokers based on countless hours that I have spent researching and testing hundreds of brokers, all of which you can see in my forex broker reviews. You can also use my free trading tool to compare forex brokers including Phoenix Markets.
Phoenix Markets Platforms & Tools
Traders are allowed to trade the offered assets using the MT4 trading platform, which is very popular among forex and CFD traders all over the world. The platform is built with useful trading tools and capabilities, including support for automated trading using expert advisors, a one-click trading panel, multiple charts in nine timeframes, and more. The broker makes the MT4 trading platform available in the desktop, web, and mobile versions.
The broker provides traders with a proprietary trading platform that is equipped with advanced charting options and social trading, which gives new traders the option of copying the trades of successful traders. The Phoenix trading platform is available in the web and mobile versions.
There is also an Economic Calendar on the broker’s website; it shows the scheduled market vents and economic data releases and the impacts they are expected to have on the financial markets.
Phoenix Markets Research & Education
Phoenix Markets provides traders with a selection of educational materials to enable them to make knowledgeable trading decisions. These materials include a trading glossary, an FAQ section, videos, and market news.
Phoenix Markets Trading Accounts
Traders are allowed to choose the account type that best suits their objectives and trading capital from a choice of three trading account types, namely: Starter, Gold, and Platinum Accounts. The required minimum deposits range from $250 to $50,000, and they have spread starting from 0.05 pips and leverage of up to 1:30 and 1: 200 for retail and professional clients respectively. Demo accounts are also available for practice purposes.
Phoenix Markets Account Funding
The following payment methods are accepted for account deposits and withdrawals at Phoenix Markets: wire transfer and credit/debit cards.
Phoenix Markets Customer Service
The broker has a dedicated customer support team that responds to clients’ inquiries, and they can be reached via the following contact channels: telephone, email, Live Chat, and social media.
Phoenix Markets Regulation
Phoenix Markets is the trading name of WGM Services Limited, a financial services company subject to the regulation and supervision of the Cyprus Securities and Exchange Commission (CySEC) under license number 203/13.
Phoenix Markets Review Summary
Phoenix Markets is a regulated trading broker that is based in Nicosia, Cyprus, and provides traders with various intuitive trading platforms for trading several financial markets. The broker offers a selection of trading and learning tools whilst providing a client support team to assist traders. Clients get access to different trading account options with a required minimum deposit of $250, a commission fee of $10, and leverage of up to 1:30.
It is worth mentioning that some of the trading products and services in this Phoenix Markets review may differ or not be available to traders in some countries due to regulations. As brokers’ terms can change over time, please verify all information is up to date directly from the Phoenix Markets broker website which you can visit by using the link below.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A large percentage of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.