Could you confirm whether PhyxTrade is safe to use? Thanks a lot.

https://phyxtrade.com/

Dear Investor,

Phyx Trade appears to be a scam because it does not hold a legitimate brokerage licence.

Although Phyx Trade presents itself as a safe trading platform, it fails to provide even the most basic regulatory credentials. The only information we could find on its website is that it is registered in Saint Lucia and India. We then found this company's name only in the database of the Saint Lucia International Financial Centre (IFC). However, please note that the IFC neither regulates nor licences forex trading activities. Essentially, this registration merely grants International Business Company (IBC) status, which is not a valid financial licence.

Therefore, Phyx Trade is suspected to be an unregulated company, which poses a significant risk of being fraudulent. We strongly advise you to avoid using this platform in order to protect your money.