Fenix Securities dragged our attention as one of the rare Wall Street brokers on the market. However, once we dived deeper into our Fenix Securities review, we were nothing but disappointed. And here is why.
|Regulated by:||Unlicensed brokerage|
|Scammers Websites:||fenixsecurities.site and fenixsecurities.eu|
|Blacklisted as a Scam by:||No Info|
|Owned by:||Fenix Securities, LLC (allegedly)|
|Headquarters Country:||USA (allegedly)|
|Supported Platforms:||Web trader|
|Cryptocurrencies:||Available – BTC, ETH, XRP – total 10|
|Types of Assets:||FX, commodities, indices, shares, cryptocurrencies|
|Free Demo Account:||No|
|Accepts US clients:||Yes|
Fenix Securities Regulations And Security
To begin with, broker claims to be owned by Fenix Securities, LLC from Wall Street, under SEC and FINRA regulations. It would all be terrific if only it was true. The imposter firm even made a similar website to the one legit Fenix Securities is using. However, the legit firm operates under a different domain – fenixsecurities.com and has no relation to the fenixsecurities.site.
It practically means we know nothing about Fenix Securities, and you’re dealing with an unregulated fraudulent firm. If any issue occurs, you will have no regulator to complain to, nor the compensation fund.
Fund Withdrawal Issues
Since we’ve determined that the broker is unregulated and we don’t actually know who’s behind the entire charade, not processing withdrawal requests is quite easy. If you have no regulator and no name to put on the lawsuit, they are entirely safe. This domain can be operated from anywhere in the world, and tracking it might be impossible with technology development.
All of the clients reported the same – once they asked for a payout, their trading account was suspended.
Areas Of Fenix Securities Scam
According to Fenix Securities reviews, the broker is mainly present in Poland, Germany, and Argentina. However, since it’s pretending to be US-based, clients from this country as well as other EU countries are not safe either.
Beware that this online broker is a big trading scam and don’t accept any offers coming from the brokerage.
Traders About Fenix Securities Scam
As expected, traders have nothing good to say about Fenix Securities. Everyone is complaining about withdrawal issues, bad trading platforms, and unregulated trading conditions. Things like leverage and spread are nowhere disclosed, while the initial deposit is $250, reminding a lot of other scams.
How Does Online Trading Scam Work?
Any online trading scam starts with a phone call, email, or message. The broker gets your details from an ad, Facebook page, or any other way and gets in touch. Once you fall for the first story and invest the minimum deposit, you will be constantly pressured for more money.
All up to a point where you’ve given all you had or don’t want to continue before you see a payout. This is when you’re risking your account being suspended and never reaching the company again. Since we don’t know who Fenix Securities really is, hiding wouldn’t be too difficult.
Scammed by Fenix Securities? – Tell Us Your Story
If you were scammed by Fenix Securities, it’s important to know that you’re not the only one. We’ve received numerous complaints, and so far, the only effective solution is a chargeback.
But What Is A Chargeback?
This is a way for your bank to get the money back from a merchant if you can prove that you have been scammed. Contact us via online chat to book your free consultation with a chargeback specialist for more details regarding your particular case.
What Is Fenix Securities?
As we discovered, it is an online CFD and Forex trading provider without a license.
Is Fenix Securities A Scam Broker?
Yes, it is a clone firm pretending to be US-regulated.
Is Fenix Securities Regulated?
Company is not regulated and operates illegally.