FenixT: company reviews in 2022

• Categories: CFD-Brokers

Reviews of FenixT Company’s Work in 2022

Trust and security are the core values ​​promoted by the brokerage organization FenixT. The company claims to operate in accordance with international standards and has already served over a million clients. However, there is limited information available about this company on the Internet: there are no user reviews, and expert reviews are just starting to appear. We have conducted a detailed audit, including checking the company’s legal framework and trading conditions, and are ready to share the results of our research with you.

Research on the FenixT Website

FenixT cares about its clients, providing them with a multilingual website, indicating the company’s aspiration to operate at a global level. In addition to other languages, there is also a Russian translation available. The information on the website suggests that the company has been offering its services since 2008. Despite its long history, there are few reviews about the company. This often raises doubts. However, an analysis of the domain history suggests that the site was only launched in May 2022, which explains the lack of reviews.

Information about the company’s management is also absent on the website, a common trait among scammers. By not disclosing responsible individuals, the company offers services without the possibility of monitoring the results. The absence of a User Agreement on the site further intensifies suspicions. The internal documents of the company are limited to just a Privacy Policy, which also raises questions.

Financial Base and Licensing

FenixT claims to comply with international legislation and is licensed by the Cyprus Securities and Exchange Commission. The website lists the license number as 250/14. However, a verification revealed that the license was issued not to FenixT, but to Plus500CY Ltd. This indicates that the company is using someone else’s data to legitimize its activities.

Collaboration with Russian investors also raises doubts. FenixT is not included in the list of licensed brokers of the Central Bank of Russia, making its activities illegitimate in the Russian Federation. Independent user forums warn about potential risks of dealing with such companies.

Trading Conditions and Offers

FenixT offers its clients various tariff plans with different conditions and minimum deposits. For example:

• Basic. Minimum deposit – $250, profit commission – 12%, leverage – 1:100;
• Classic. Starting deposit – from $1,000, access to CFD trading, leverage up to 200x;
• Pro. Minimum top-up – $10,000, leverage up to 400x, access to Forex currency pair trading;
• VIP. Starting deposit – $70,000, leverage up to 500x, possibility of opening a PAMM account.

The company does not disclose details about available payment methods and the fund withdrawal process, which also raises certain mistrust among users.

Reviews on the Platform

The presence of positive reviews about FenixT on the company’s platform should be viewed with some caution, considering the possibility of data manipulation. The inability for users to leave reviews also raises suspicions. Independent forums currently lack real reviews about FenixT’s operations, which is an additional reason for caution.

Fraud Strategy

Scammers may use manipulations on the trading platform, creating fictitious profitable deals to attract new clients. Collaborating with such companies can lead to financial losses. Additionally, using special software for remote access can result in unauthorized access to users’ personal data and financial accounts.

Conclusion

Based on the analysis conducted, FenixT raises certain concerns regarding its activities in the brokerage services market. Insufficient transparency of information, the absence of real user reviews, and the use of misinformation in operations are factors that may warrant caution when dealing with this company. It is recommended to carefully study all aspects of the company’s operations before deciding to collaborate.