Phoenix Brokage is an unlicensed broker that we strongly advise against trading with, despite the seemingly attractive deals it offers.
Phoenix Brokage displays a certificate of incorporation from the Companies House (CH) with company number 12125159 on their homepage to appear legitimate. However, we found this number belongs to a company named GLEX INVESTMENTS (U.K.) LIMITED on the website of the CH. That means this broker is using false information to deceive investors. Moreover, the CH is only a registrar of companies in the UK responsible for incorporating and dissolving companies, and the authority to regulate financial industry in the UK rests with the Financial Conduct Authority (FCA). But we did not find any results matching Phoenix Brokage in the FCA registry. Therefore, Phoenix Brokage is not subject to any valid regulations.
Regarding your question, we strongly suggest you avoid Phoenix Brokage since it is an unlicensed broker. Entrusting it with your funds or trading with it is highly risky, as there are no safeguards in place to protect your funds. Therefore, we strongly suggest investors stay away from unlicensed brokers like Phoenix Brokage and opt for fully regulated ones instead.
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