Risk Management Index
The Cyprus Securities and Exchange Commission (CySEC) was established in accordance with section 5 of the Securities and Exchange Commission (Establishment and Responsibilities) Law of 2001 as a public legal entity. It is an independent public supervisory Authority responsible for the supervision of the investment services market, transactions in transferable securities carried out in the Republic of Cyprus and the collective investment and asset management sector. It also supervises the firms offering administrative services which do not fall under the supervision of ICPAC and the Cyprus Bar Association.
License Type:Market Making(MM)
Regulated in Country/AreaCyprus
Regulatory License No.：203/13
Email Address of Licensed Institution :firstname.lastname@example.org
Website of Licensed Institution :
Expiry Date :--
Address of Licensed Institution :11, Vizantiou Street, Office 401, Strovolos, CY-2064 Nicosia
Phone Number of Licensed Institution :22000878
Most visited countries/areas
The data are from WIKI Research 2021.07.26 updated
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General Information & Regulation of PHOENIX MARKETS
PHOENIX MARKETS is owned and operated by WGM Services Ltd, established in 2013, and is a Cyprus registered online forex and CFD broker, currently regulated by CySEC in Cyprus, holding its authorized full license, regulation number: 203/13.
PHOENIX MARKETS offers financial products such as global currency exchange, major global indices, commodities, equity CFDs, and cryptocurrencies.
Accounts & Leverage of PHOENIX MARKETS
PHOENIX MARKETS offers three different trading accounts: Starter Account (minimum initial deposit of EUR 1,000, for Retail accounts), Gold Account (minimum initial deposit of EUR 25,000, for Retail & Pro accounts), and Platinum Account (minimum initial deposit of EUR 99,000, for Retail & Pro accounts). Objectively speaking, the minimum deposit amount set by PHOENIX MARKETS is too high, and investors should be careful to avoid risks. The maximum trading leverage for retail clients is 1:30 for Starter accounts, 1:30 for retail traders, and 1:200 for professional clients for Gold and Platinum accounts.
Spreads & Commissions of PHOENIX MARKETS
Spreads start at 3 pips for the Starter account and 1.5 pips for the Gold account, with no commission on forex trading, $10/€/£ per lot for futures trading, 1% for stocks, and 0.5% for cryptocurrencies for both accounts. Concerning the Pro Account, the commission for futures trading for retail traders is the raw spread + $10/€/£ per lot. In contrast, the commission for futures trading for professional traders is the raw spread + $7/€/£ per lot, and the commissions for stocks and cryptocurrencies are 1% and 0.5%, respectively.
Trading platforms Available
PHOENIX MARKETS offers investors a choice of three trading platforms, namely PHOENIX Webtrader, MT4, and mobile trading platform.
Deposit and withdrawal of PHOENIX MARKETS
PHOENIX only supports traders to deposit and withdraw funds to their accounts through VISA, MasterCard credit cards, and wire transfers. Compared to most brokers that offer popular e-wallet payment methods, the platform's payment methods are too limited.
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Foreign exchange, precious metals and over-the-counter (OTC) contracts are leveraged products, which have high risks and may lead to losses of your investment principal. Please invest rationally.
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