Phoenix Creek Capital has been flagged by ASIC (Australia) for "Unlicensed (Legacy)". Phones: +44 2036038976
Addresses: Fenchurch Street London EC4 United Kingdom 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.phoenixcreekcapital.com.
Phoenix Creek Capital 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: Demo account available|No hidden fees
Cons: Nothing significant|Research section could be deeper
I experienced a security concern with my Phoenix Creek Capital account and reported it immediately. Their response time was inexcusable for a financial platform. It took them four days to acknowledge my report and another week to actually address it.
Pros: Two-factor authentication|Easy to use platform|Social trading features|Low minimum deposit
Cons: No crypto staking|Live chat only during business hours
The hidden fees at Phoenix Creek Capital are the real scandal here. What they advertise and what they actually charge are two different things. By the time I realized how much I was paying in various fees and spreads, I had already lost a meaningful amount.
Pros: No hidden fees|High security standards|Excellent charting
Cons: None so far|Website design could be more modern
The platform at Phoenix Creek Capital is riddled with bugs. Charts display incorrect data, order confirmations sometimes fail silently, and the portfolio tracker disagrees with actual positions. After for over three years of dealing with this, I have had enough.
Pros: No hidden fees|Multi-currency support|Regular platform improvements|Social trading features
Cons: Minimum deposit could be lower
The mobile app from Phoenix Creek Capital 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: Good mobile app|Great customer service
Cons: Onboarding videos are outdated|Charting tools need more indicators
Phoenix Creek Capital seems more interested in acquiring new customers than taking care of existing ones. The marketing is aggressive but the product is mediocre. Once you are past the honeymoon period, the cracks in their service become very apparent.
Pros: Detailed reporting|Low minimum deposit|Fast support response
Cons: None so far
The only good thing about Phoenix Creek Capital is that they remind you why regulation matters. I found them after comparing multiple platforms. They are regulated in a jurisdiction with weak consumer protection. When things went wrong I had nowhere to turn. Stick to well-regulated brokers.
Pros: Regular platform improvements|Easy withdrawals
Cons: Email notifications too frequent|Would like more payment methods
After for roughly four months with Phoenix Creek Capital 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: Easy withdrawals|Smooth onboarding
Cons: Would like more payment methods
If you are reading this considering Phoenix Creek Capital - run. I wish I had read more negative reviews from a review site like this one. I thought the positive ones were real. Maybe some are. My experience over for nearly two years has been so bad I feel obligated to warn others. Do not make my mistake.
Pros: Demo account available|Fast support response|High security standards
Cons: No integrated tax optimization|Live chat only during business hours
Phoenix Creek Capital has the worst mobile app I have ever used for investing. It crashes constantly, features that work on desktop are missing entirely, and the security implementation is questionable at best. How they released this app is beyond me.
Pros: Fast deposits|Transparent fees
Cons: Alert system is basic