Exchange of currency at predetermined rates by the traders is known as forex. It acts as a tool for currency conversion for people, businesses, and central banks of several countries.
The purpose of the bulk of currency conversions is to make a significant amount of money. The volatility of some currencies results from the substantial daily volume of currency trading. The forex market’s volatility, which leads to significant profits, draws traders to it. Higher volatility means higher risk in FX trading.
A Quick Glance
|Regulated By||Financial Services Authority|
|Trading Instruments||Forex, cryptos, CFDs on commodities, shares and indices|
What is Phoenix Ltd?
Phoenix Ltd was founded in 2013, pledged to improve CFD trading standards.
Users can access unlimited materials to trade as an expert in the financial markets. As a result, they can benefit daily from the uncertainty of the entire trading industry.
Phoenix Ltd is working towards providing clients with a wide range of services on the most beneficial terms for accessing online trading and developing the knowledge to make wise trading decisions.
Can Phoenix Ltd be trusted?
Phoenix Ltd conducts business as Phoenix Limited. It has built a solid market reputation since 2013, which makes it a safe trading platform. The Financial Services Authority of Seychelles (FSA) supervises the broker.
Regulatory organisations provide brokers with the guidelines they need, to conduct business.
Phoenix Ltd licence number is SD113.
The licenced company offers traders top-notch services. A secure online trade environment also gives the impression that it is reliable and secure.
Pros and Cons
|Regulated by Financial Services Authority||Does not offer services in the USA.|
|128-bit SSL encryption for privacy protection|
|Maximum Leverage offered 1:400|
Phoenix’s deposit and minimum requirements
Traders at PhoenixLtd can conveniently deposit money in various currencies, including USD, EUR, and JPY by credit cards, alternative payment methods (APMs), and wire transfers to accommodate diverse preferences.
The Phoenix Ltd minimum deposit requirement is $250. The requirement for a minimum deposit guarantees that users will have enough money to start trading and take advantage of the chances presented by the broker.
PhoenixLtd seeks to meet the demands of traders from diverse locations and enable simple and secure funding of trading accounts by offering a variety of deposit alternatives and supporting several currencies.
How can the funds be withdrawn?
The withdrawal option should match the method traders used to make their original deposit while withdrawing money. A trader must employ Alternative Payment Methods (APMs) for both the deposit and withdrawal.
If a trader requests a withdrawal for a sum more than their initial investment, the extra money will be sent to them by wire transfer. If the withdrawal exceeds the deposited cash, the excess amount will be sent to the trader’s bank account.
The initial deposit amount will be reimbursed to the credit card for traders who use it to make their deposits and plan to withdraw more money than they put in. Then, a wire transfer will be used to deposit the balance more than the initial deposit into the trader’s bank account.
These withdrawal procedures support transparency and conformity to financial regulations by ensuring that money is handled and transferred securely and by the original deposit method.
Over 50+ exotic currency pairs are offered by Forex Phoenix Ltd. to traders. This wide range of options enables traders to participate in the foreign exchange market and benefit from different trading options.
Phoenix Ltd offers a maximum leverage of 400 and a minimum leverage of 200. Traders can use leverage to increase their earnings or decrease their losses by using borrowed money to increase trading positions.However, higher leverage levels also come with increased risk, so handling leverage with caution is crucial.
PhoenixLtd has included cryptocurrencies in its trading options in response to the growing importance of digital currencies in the financial sector. Customers can trade many cryptocurrencies, including well-known ones like Bitcoin, Ethereum, and Ripple.
Using cutting-edge tools, provided by the broker can help traders study market patterns, put trading plans into practice, and come to eloquent judgments. Customers can obtain beneficial trading circumstances within the cryptocurrency market with competitive pricing.
The trading platform has a minimum deal size that allows users to place trades for as low as $0.01. As a result, traders can manage their positions as per their risk appetite and trading ideas.
The maximum trade size offered by PhoenixLtd is 50, and traders are free to modify their trading volumes as per their preferences and available amount for trading.
Coffee, cocoa, crude oil, cotton, soybeans, and other commodities are among those that can be traded at Phoenix Ltd. Agricultural products, energy sources, and other necessary raw materials are also included.
Investing in shares with high liquidity has several benefits for traders. It is simpler to complete trades at desired pricing when there is a lot of liquidity due to a lot of buyers and sellers.
Due to the high level of market interest, price volatility rises, creating possible trading opportunities.
Businesses like Adidas, Walmart, and Alibaba are well known for their ground-breaking goods, innovative services, and leadership roles within their respective industries. This brand power and market dominance can boost investor confidence and trade activity.
Utilising more advanced trading tools, traders can take on their skills in CFD trading and chart the course for an unmatched trading experience. Understanding the nuances of our product specification will empower trader’s decision-making process and help tradersmake more profitable trading decisions.
Why should you choose Phoenix Ltd?
Phoenix Ltd. is an optimum platform for financial traders as it is regulated by the Financial Services Authority (FSA), a well-known regulated financial organisation.
WebTrader offers you limitless resources as a trading platform. They are conveniently located at the trader’s doorstep. Any resources, such as, Desktop, mobile, or tablet—can be used for trading.
The client service pledges to offer secure and outstanding services to traders. With that it is easy to reach due to the extended customer service at any time when traders need assistance.
The platform obeys a customer-centric approach to how they deliver their services. The five in-hand accounts guarantee that traders of all experience levels can trade successfully and fulfil their trading requirements.
Traders can access 160+ CFD assets, more than 30 technical indicators and daily trading signals from industry experts
Forex traders use a web trader to open and close positions, an internet platform accessed without downloading any software.
Trading can be done through a web browser, where traders can establish stop loss and take profit orders, monitor bid-ask spreads, and keep track of all historical and present-day executed positions.
Types of Accounts on Phoenix
|Instruments||All Assets||All Assets||All Assets||All Assets||All Assets|
|Minimum Volume Per Trade||0.01||0.01||0.01||0.01||0.01|
|Maximum Volume Per Trade||50||50||50||50||50|
|Negative Balance Protection||Yes||Yes||Yes||Yes||Yes|
|Free Trading Education||Yes||Yes||Yes||Yes||Yes|
|Full Account Overview||–||
|EUR/USD||2.5 pips||2.5 pips||1.8 pips||1.4 pips||0.9 pips|
|GBP/USD||2.8 pips||2.8 pips||2.3 pips||2 pips||1.4 pips|
|USD/JPY||2.8 pips||2.8 pips||2.3 pips||2 pips||1.4 pips|
Phoenix’s Fees and Commissions
|INACTIVITY PERIOD||INACTIVITY FEE|
|0 TO 1 MONTH||0|
|1 TO 2 MONTHS||80 USD/EURO|
|2 TO 6 MONTHS||120 USD/EURO|
|AFTER 6 MONTHS||200 USD/EURO|
| Debit Card
|Wire Transfer||30 USD/EUR|
The PhoenixLtd website should benefit from adding more educational and research materials as they lack in the domain. Traders should meanwhile consider brokers who provide a wide form of research tools to overcome this limitation.
Large-scale instructional and research resources are available on the brokers like XPro Markets and Elland Road Capital. Their website features daily news updates, video lessons, and in-depth explanations of forex trading topics.
Choosing a broker with efficient educational and research tools can significantly improve trading skills and decision-making abilities, leading to a profitable and satisfying trading experience.
- Support Form
- Live Chat
- Email Address: [email protected]
- Contact Number: +2484671919
As PhoenixLtd is governed by the Financial Service Authority of Seychelles, it is shielded for trading and putting money into investments.
Depending on the trading style and financial situation, five distinct types of accounts are available for traders.
PhoenixLtd provides strong liquidity, minimal spreads, and 400% leverage. A $250 minimum deposit is essential to create an account with Phoenix Ltd.
However,the research and training aspect of the website needs improvement.