FAQ

FREQUENTLY ASKED QUESTIONS

Who owns phoenixmarkets.com?

phoenixmarkets.com is owned and operated by WGM Services Ltd.

How are my funds held with phoenixmarkets.com?

At phoenixmarkets.com our client’s funds are held in a segregated account away from the firm’s own accounts at reputable EU banking institution.

What type of services does phoenixmarkets.com offer?

phoenixmarkets.com is a forex brokerage firms that deals in over-the-counter forex contracts. phoenixmarkets.com offers its clients direct access to the currency markets including major and minor world currencies, commodities, indices and stocks.

We deliver a matchless mixture of STP online forex trading via the Sirix Platform.

How can I open a Real Account with phoenixmarkets.com?

Opening a real account with phoenixmarkets.com is simple.

Click the "Open a Live Account" button on the main site and fill in the registration form.

What documents do I need to submit?

phoenixmarkets.com requires that you submit identification documents such as:

National ID, Driver’s License or International Passport

Proof of residence i.e. Utility Bill (not later than 3-months)

How can I deposit funds into my account?

Wire Transfer

Credit card / debit card

How can I withdraw my profits?

Once you are logged onto the website, please complete the form found at the "withdrawal section" and click on the "request the withdrawal" button. We are automatically notified of your request. The processing of the withdrawal request takes up to 1 business day.

My Demo Account has been deactivated

It is standard for demo accounts to expire after 14 days. However, you don’t have to re-download the Sirix client, just go to File > Open an account, to set up a new account with us.

What are the monthly transaction limit?

There are no monthly limits on the number of transactions to enter. However, you may have 100 trades open at any given time.

How long does it take to open an phoenixmarkets.com trading account?

If you fill out the require details correctly, then it should take as little as 5 minutes.

What are your trading periods?

The market comes alive from Sunday 22:05 GMT to Friday 21:50 GMT.

Do you allow news trading?

Of course, we do.

Do you offer live forex tutorials?

In our “Education” section you’ll find “How to” Videos which can be a great way of visual forex learning.

Do you allow binary option trading?

Certainly not.

Is phoenixmarkets.com licensed or regulated?

phoenixmarkets.com is owned and operated by WGM Services Ltd. for the provision of investment services and or activities to residents within the European Economic Area only. WGM Services Ltd. is an investment firm registered in Cyprus (HE 256991) authorized and regulated by the Cyprus Securities and Exchange Commission under license number 203/13.

WGM Services Ltd. complies with the Cyprus implementation of MiFID Law

 

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HIGH RISK INVESTMENT WARNING:CFDs are complex instruments and come with a high risk of losing money due to leverage. 80% 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.