Note: Phase Forex's official website: https://phaseforex71.com/ is currently inaccessible normally.

Phase Forex Information

Founded in 2021, PHASE Forex is registered in Cyprus, the specific address is B1 359 28th October street, WTC Cyprate-Trust Re Building, Limassol 3107, K y br y s VFSC (reference number 40387).But the broker is not currently subject to any effective regulation and is not suitable for trading.

Is Phase Forex Legit？

Phase Forex has serious issues with its regulatory status and is not currently subject to any effective supervision and is not suitable for trading. This shows that Phase Forex cannot guarantee investors' capital safety and trading rights and interests.

Investors are advised to strengthen their self-protection awareness and stay away from unregulated brokers such as Phase Forex.

Trading Platform

Phase Forex uses Meta Trader 5 (MT5) as a trading platform with access to various trading features and technical indicators. The MT5 platform presents investors with more complete market information, provides better conditions for investors to carry out more complex analysis, and provides more order strategies to broaden investors' operating space.

Downsides of Phase Forex

• Unavailable website

The inability to access the official website leads to the block of investor information and increases the difficulty of investors' decision-making.

• Lack of transparency

The lack of sufficient transparency may provide opportunities for traders to engage in misconduct, to the detriment of investors.

• Regulatory concerns

It is not regulated, and there may be serious problems with its compliance, threatening the safety of investors' funds.

Negative Phase Forex Reviews on WikiFX

On WikiFX, “Exposure” is posted as a word of mouth received from users.

Traders are encouraged to review information and assess risks before trading on unregulated platforms. Please consult our platform for related details. Report fraudulent brokers in our Exposure section and our team will work to resolve any issues you encounter.

As of now, there was 1 piece of Negative Phase exposure in total. I will introduce it.

Exposure 1. Fall for a scam

The user said that he could not withdraw money after a huge investment and was deceived by the brokerage.

You may visit: https://www.wikifx.com/en/comments/detail/202201046872800814.html

Conclusion

It is not safe to deal with this broker. Phase Forex exposed the shortcomings of the website being inaccessible, extremely low transparency and unregulated, and was also exposed by users who could not withdraw money and fell into the problem of fraud. These circumstances illustrate the severity of the consequences of dealing with the broker.

Consumers should sharpen eyes, carefully identify fraudulent brokers, and select compliant brokers through formal channels.