Phenix Trust Ltd has been flagged by Central Bank of Ireland 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.
I wanted to transfer my portfolio from another broker to Phenix Trust Ltd. They said they do not accept in-kind transfers for my asset type. I had to sell, withdraw, deposit, and rebuy - incurring taxes and spread costs. They did not tell me this before I signed up.
Pros: Dividend tracking|Transparent fees|Two-factor authentication
Cons: Alert system is basic|Could offer more webinars
I referred a friend to Phenix Trust Ltd through a forum discussion. We both deposited. The referral bonus never arrived. Support said we did not meet the terms. When we asked which terms they pointed to a clause that was added after we signed up. Shady.
Pros: Multiple order types|Personal attention|Portfolio tracking tools
Cons: No fractional shares
After for roughly four months with Phenix Trust Ltd, 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: Personal attention|Full transparency
Cons: No phone support on weekends|Minor UI glitches occasionally
Their two-factor authentication was optional when I joined. I enabled it. Later I lost my phone and could not log in. Phenix Trust Ltd recovery process took 3 weeks and required notarized documents. By then I had missed important trades. Their security is your inconvenience.
Pros: Fast support response|Helpful community forum
Cons: No live chat on mobile|No phone support on weekends