Markets Phantom has been flagged by Financial Conduct Authority for "Unregistered/Unlicensed entity offering financial products or services". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
After doing some research AFTER the fact (I know, I should have done this first), I discovered that Markets Phantom is not authorized by any legitimate financial regulator. They are operating illegally. The website looks very professional but it's all a facade. Please check the regulatory warnings database before investing with ANY company.
Pros: Initially responsive customer service
Cons: Withdrawal fees demanded|Communication cut off|Not authorized
My card was charged twice by Markets Phantom on the same day. I had to dispute it with my bank. Markets Phantom then froze my account and said I had a negative balance because of the chargeback. They created the problem and then punished me for it.
Pros: Segregated accounts|Tax reports included|Great customer service
Cons: Would like more payment methods
Several red flags with Markets Phantom: (1) They promise unrealistically high returns, (2) They're not registered with Financial Conduct Authority, (3) Their contact information is vague, (4) They pressure you to deposit quickly. I recommend everyone do thorough due diligence before investing with any company.
Pros: Website looks legitimate on the surface
Cons: Unauthorized firm|Found in IOSCO warnings database
Markets Phantom locked my account without warning and demanded documents I had already submitted. for over three years later I still do not have access to my funds. Their compliance team does not respond to emails. I am considering legal action.
Pros: Full transparency|Automated trading options
Cons: Would like more payment methods
Do not use Markets Phantom for anything serious. I used them since I opened my account last year for small trades and it was okay. When I deposited a larger amount and traded more, my account was flagged, my withdrawals were delayed, and I was asked to explain my trading. They treat active traders like criminals.
Pros: Great customer service|Excellent charting|Automated trading options|Fast execution
Cons: No dark mode on mobile
I gave Markets Phantom a fair chance. After for the past six months of usage, I can say with confidence that there are far better options available. The interface is clunky, the fees are higher than competitors, and the customer support team seems overwhelmed or understaffed.
Pros: Helpful community forum|Fast execution|Comprehensive tools
Cons: No crypto staking|Currency conversion fee exists
I joined Markets Phantom after my brother mentioned them 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: Multi-device support|Smooth onboarding|API access|Portfolio tracking tools
Cons: Wish they had more educational resources
Their execution during news is terrible. I had limit orders in place. When the news hit, my orders were not filled at the limit price - they were filled much worse. Markets Phantom said it was market conditions. Same news, another broker filled me properly. They are not honest.
Pros: Competitive fees|Instant funding|Detailed reporting|Full transparency
Cons: No live chat on mobile|No dark mode on mobile
I signed up with Markets Phantom after a trusted YouTuber reviewed them and the first red flag was the aggressive account manager who would not stop calling. After depositing, the promised support vanished. Withdrawals are delayed with endless excuses. I have reported them to the regulator.
Pros: Customizable dashboard|Detailed reporting|Real-time alerts
Cons: Wish they had more educational resources
This company appears on the IOSCO I-SCAN international warnings list. Over 68 financial regulators worldwide contribute to this database. While being listed doesn't automatically mean fraud, it's a significant red flag that potential investors should take seriously. Do your research thoroughly.
Pros: Information is publicly available for verification
Cons: Flagged by international regulators|Due diligence required