Be cautious while investing with Phoenix FX
Abstract:Forex scams are getting more frequent. As more and more people become interested in forex, Fraud is becoming more common. Every day, forex scams happen. Fraudsters attract victims by making appealing promises. Investors fell for these false promises and eventually got duped.
![img_v3_02b6_512dab56-c641-4b59-99d8-ff3238aa3bfg.jpg](https://wzimg.ruiyin999.cn/guoji/2024-05-24/638521686054266038/ART638521686054266038_320540.jpg-article598)
Forex scams are getting more frequent. As more and more people become interested in forex, Fraud is becoming more common. Every day, forex scams happen. Fraudsters attract victims by making appealing promises. Investors fell for these false promises and eventually got duped. Recently, WikiFX got such a complaint.
A recent complaint we received from India. The victim filed a complaint against Phenoix FX, claiming he is unable to withdrawal his amount. He said, I invested 18 lakh INR with the broker in November 2021. For the first time since then, I experienced a withdrawal issue. The complainant stated, I inquired about this issue with the broker but received no response.
![img_v3_02b6_47269e99-c269-42e9-9470-aa18c4ca360g.jpg](https://wzimg.ruiyin999.cn/guoji/2024-05-24/638521689667654485/ART638521689667654485_739103.jpg-article598)
![img_v3_02b6_fa75251d-7776-4561-9086-0b77e007070g.jpg](https://wzimg.ruiyin999.cn/guoji/2024-05-24/638521689877830235/ART638521689877830235_774252.jpg-article598)
WikiFX Review
![img_v3_02b6_9e93c3d7-840e-4c74-8a7d-2a261629ed1g.jpg](https://wzimg.ruiyin999.cn/guoji/2024-05-24/638521690050711265/ART638521690050711265_282508.jpg-article598)
According to WikiFX, Phenoix FX is a newbie broker, established in 2023 in Saint Lucia. It does not have a license from an esteemed authority like CySEC, FCA, FMA, ASIC, etc. WikiFX issued a warning there, stating that
• The Comoros AOFA regulation, with license number L 15610/PPFX, is offshore. Please be aware of the risk!
You can install the WikiFX app or visit the WiKiFX website for the latest news.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.