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ForexPhyx
Unregulated
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ForexPhyx

United States
Not disclosed
2
1.21
Rating Index
Software
3.9
Licensed
0
Risk Control
1.2
Experience
3.93
Institution
0
Industry Classification
D
Unqualified
Trading Platforms
MT4/MT5

Basic Information

  • Registered Region
    United States
  • Operation Status
    Abnormal
  • Operating Period
    Not disclosed
  • Deposit Methods
    Not disclosed
  • Website
  • Market Type
    Foreign exchange
  • Support Languges
    English
  • Main Business
    CFDs
  • Business Type
    FX broker
  • Social Media
  • Contact Details
  • Type of Accounts
    Not disclosed
  • Trading Platforms
    MT4/MT5
  • Withdraw Methods
    Visa, Mastercard, Skrill, Neteller, Ecommpay
  • Auto Trading
    EA/CopyTrade supported

Pros and Cons

Pros of ForexPhyx include the availability of both MT4 and MT5 platforms, which are recognized for their robust features in forex trading. Cons include its unregulated status, which exposes clients to higher risks, and a lack of transparency regarding its services and account types.

Company Background

ForexPhyx operates as an FX broker without valid regulatory oversight. As noted in sources, it has been in operation for less than a year and is registered in the United States, although specific incorporation details remain undisclosed. The lack of regulatory oversight raises concerns regarding trustworthiness and compliance with industry standards.

Fund Security

Fund security is critical in the trading environment. Given that ForexPhyx is identified as an unregulated broker, potential clients are advised to exercise caution, as there might be minimal to no protection for their funds in case of disputes or insolvency.

Account Opening

The specifics regarding account types offered by ForexPhyx or the onboarding process have not been disclosed. This lack of clarity may deter potential clients seeking straightforward account management experiences.

Trading Fees

Information regarding spreads, commissions, and other trading fees is not available. Traders should inquire directly with ForexPhyx for any underlying costs associated with trading on their platforms.

Trading Instruments

ForexPhyx primarily focuses on CFDs, although a comprehensive list of tradable instruments is not present. Prospective clients should verify with the broker for specific offerings before proceeding.

Trading Technology

The broker supports both MT4 and MT5 trading platforms, offering clients advanced trading capabilities. These platforms are favored in the industry and provide features like automated trading through EAs.

Research and Education

ForexPhyx does not provide detailed information on research or educational resources available for traders. This absence may be a drawback for beginners seeking guidance and analytical support to enhance their trading skills.

Customer Support

ForexPhyx offers customer support through a contact number and email. However, details regarding the quality and efficiency of this support are not available, which is essential for traders requiring assistance.
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Rating Instructions
Rating Index
ForexPhyx
ForexPhyx
Unregulated
Legal Environment
3.9
License Value
0
Risk Management
1.2
Investor Protection
3.93
Regulatory Policy
0
  • Software

    Evaluates the regulator's legal foundation, organizational structure, leadership experience, and enforcement capacity. Focuses on whether it enforces strict regulations, maintains transparency and fairness, and engages in international cooperation and technological supervision.

  • Institution

    Analyzes the regulator's policy framework, decision-making process, and enforcement transparency, including rule-making, internal control, and policy implementation effectiveness.

  • Licensed

    Assesses the market value of the licenses issued by the regulator, including entry thresholds, compliance costs, approval duration, and overall global recognition and influence.

  • Risk Control

    Evaluates the regulator's financial stability and risk management capacity, including budgeting, reserves, revenues, expenditures, and ability to respond to market or financial shocks.

  • Investor Protection

    Examines the regulator's complaint-handling and investor protection systems, assessing fairness, responsiveness, and enforcement effectiveness in safeguarding investor rights.

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