FIRE PHOENIX has been flagged by Financial Markets Authority for "Unregistered/Unlicensed entity offering financial products or services|Fraud ...". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
Where do I even begin with FIRE PHOENIX? since last summer of broken promises, unanswered tickets, and a platform that feels like it was built in 2010. They spend more on marketing than on actually improving their service. Stay away from this company.
Pros: Social trading features|Educational resources|Regular platform improvements
Cons: Alert system is basic|Inactivity fee applies after 12 months
FIRE PHOENIX offers copy trading. I copied a top trader. The copy trades often executed at worse prices than the original. When I asked why they said it was due to latency and liquidity. So the feature is broken or they are skimming. Either way I stopped using it.
Pros: No hidden fees|Easy withdrawals|Intuitive for beginners
Cons: Live chat only during business hours
I found this company through a friend who recommended it. Before investing, I checked various regulatory databases and found that FIRE PHOENIX has been flagged as an unauthorized entity. I informed my friend immediately. Please always verify with official sources - a quick search could save you thousands.
Pros: Website looks legitimate on the surface
Cons: Not registered with regulators|Unrealistic promises
After for about three months with FIRE PHOENIX, I can only describe the experience as death by a thousand cuts. No single issue was catastrophic, but the constant stream of small problems, slow responses, and missing features wore me down until I finally left.
Pros: Demo account available|Intuitive for beginners|Clear documentation|Fast support response
Cons: Nothing significant|Limited cryptocurrency options
I lost a significant amount because FIRE PHOENIX did not execute my stop loss during a flash crash. They said the market was illiquid. Other brokers managed to execute. I have no proof they did not trade against me. Avoid.
Pros: Stable platform|Dedicated account manager
Cons: Wait times can be long during peak hours|Nothing significant
I requested my data from FIRE PHOENIX under GDPR. They sent a partial export that was missing months of transactions. When I asked for the rest they said it was a technical issue. Still waiting. They do not take data rights seriously.
Pros: Regular updates|Segregated accounts
Cons: No crypto staking|None so far
I was contacted by FIRE PHOENIX through social media. They promised guaranteed returns of 20-30% monthly. Being naive, I invested. The "account manager" pressured me to invest more and more. When I finally tried to take profit, my account was frozen and they stopped responding. Classic Ponzi/advance fee fraud.
Cons: Withdrawal fees demanded|Communication cut off|Not authorized
After since I retired last year with FIRE PHOENIX I requested to close my account and withdraw. They said I had to complete a 30-day cooling-off period. Then they said there was a minimum holding period for my last deposit. They make it as hard as possible to leave.
Pros: Intuitive for beginners|Fast support response
Cons: Cannot customize dashboard fully|Limited ETF selection
I joined FIRE PHOENIX while looking for alternatives to my previous provider and from the start, things felt off. The signup process collected far more personal information than necessary, the verification took unreasonably long, and when I finally got access, the platform was nothing like what was advertised.
Pros: Intuitive for beginners|Regular platform improvements|Fast deposits
Cons: Research section could be deeper|Account statements could be more detailed