Phoenix Alliance International has been flagged by ASIC (Australia) for "Unlicensed (Legacy)". Phones: 813 5404 3569, fax 813 4496 4118
Addresses: Palacio Tower Level 9 Omotesando 3-6-7 Kita Aoyama 107-0061 Tokyo Japan This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: www.phoenixallianceintl.com.
The reporting at Phoenix Alliance International is laughably bad. Tax documents are inaccurate, transaction histories have gaps, and trying to export data for your accountant is a nightmare. For a financial platform, getting the numbers right should be the bare minimum.
Pros: Fast support response|Dedicated account manager
Cons: Inactivity fee applies after 12 months
KYC with Phoenix Alliance International is a nightmare. I submitted my ID and proof of address. They rejected it and asked for a utility bill. I sent it. They asked for a bank statement. Then they asked for a selfie with the ID. Then they said the selfie did not match. I gave up.
Pros: Multi-device support|Smooth onboarding|Dedicated account manager
Cons: Slow to add new assets|Limited ETF selection
I had high hopes for Phoenix Alliance International based on a colleague's recommendation, but my experience has been disappointing. Customer support is slow, the platform has frequent issues, and their fee structure is not as transparent as advertised. I am actively looking for alternatives now.
Pros: Quick verification|Personal attention|Automated trading options|Excellent charting
Cons: Currency conversion fee exists
Phoenix Alliance International 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: High security standards|Clean UI|Easy to use platform
Cons: Minor UI glitches occasionally
After spending for a few weeks now trying to make Phoenix Alliance International work for me, I have given up. The platform has too many limitations, the fees are not competitive, and the quality of their market data is questionable. There are much better options available.
Pros: No hidden fees|Segregated accounts|API access
Cons: Website design could be more modern|Limited social trading features
Customer support at Phoenix Alliance International seems to be run by people who have never used the platform. Every time I call with an issue, I end up explaining how their own system works before they can help me. It would be funny if my money was not involved.
Pros: Real-time alerts|Copy trading available|Great customer service
Cons: No live chat on mobile
Phoenix Alliance International has no proper customer support. The live chat is a bot. The phone number goes to a call center that cannot access your account. Email takes two weeks. When I had a real problem they were nowhere to be found.
Pros: Fast execution|Instant funding|Educational resources|Low minimum deposit
Cons: Limited ETF selection|Mobile app could be improved
The mobile app from Phoenix Alliance International is dangerous. I placed an order that showed as pending, so I placed another. Both executed and I was overexposed. When I complained they said it was user error. The app design is misleading.
Pros: Personal attention|Regular updates
Cons: Limited social trading features|Would like more payment methods
I am in a dispute with Phoenix Alliance International over a trade that was clearly erroneous. The price shown was wrong, I closed at a profit, and they reversed the trade and took the money back. They said it was a system error. So I lose and they keep? Unacceptable.
Pros: Portfolio tracking tools|Easy to use platform|Helpful community forum
Cons: Minor UI glitches occasionally|Wish they had more educational resources
I gave Phoenix Alliance International a fair chance. After for close to eighteen 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: Portfolio tracking tools|Easy withdrawals
Cons: Limited social trading features|Search feature is basic