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FIRE PHOENIX

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Operating status: SCAM

Website: https://firephoenixfx.com

Broker violations and abnormal records
  • 2023-12-11 BrokersView has Reviewed that FIRE PHOENIX is an Unregulated Broker

    According to its website, FIRE PHOENIX comes from London, England, and is managed by the British Chamber of Commerce and Industry and supervised by the US MSB (MSB registration number: 31000243370224). However, upon investigation, we found relevant information in CH, but no matching information was found in the Financial Conduct Authority (FCA), in other words, it is only registered with CH but is not regulated by the FCA. Furthermore, we found the matching information in the MSB, but MSB is only for currency exchange business, it cannot provide foreign exchange margin business, and it has no authorization and supervision authority for financial derivatives.

    The truth is that FIRE PHOENIX is not regulated by any regulators. Letting it hold or control any investors' money is unsafe and the money cannot be protected by any laws.

    Therefore, FIRE PHOENIX is a scam.

    According to its website, FIRE PHOENIX comes from London, England, and is managed by the British Chamber of Commerce and Industry and supervised by the US MSB (MSB registration number: 31000243370224). However, upon investigation, we found relevant information in CH, but no matching information was found in the Financial Conduct Authority (FCA), in other words, it is only registered with CH but is not regulated by the FCA. Furthermore, we found the matching information in the MSB, but MSB is only for currency exchange business, it cannot provide foreign exchange margin business, and it has no authorization and supervision authority for financial derivatives.The truth is that FIRE PHOENIX is not regulated by any regulators. Letting it hold or control any investors' money is unsafe and the money cannot be protected by any laws.Therefore, FIRE PHOENIX is a scam.
  • 2023-12-18 The FCA issues a warning against FIRE PHOENIX

    On December 19, 2023, the Financial Conduct Authority (FCA) issued a warning about FIRE PHOENIX, identifying it as an unauthorized firm. https://www.fca.org.uk/news/warnings/fire-phoenix-assets-limited-firephoenixfxcom#section-report-an-unauthorised-firm

    On December 19, 2023, the Financial Conduct Authority (FCA) issued a warning about FIRE PHOENIX, identifying it as an unauthorized firm. https://www.fca.org.uk/news/warnings/fire-phoenix-assets-limited-firephoenixfxcom#section-report-an-unauthorised-firm

Related Complaints

Q&A Complaints

Unable to withdraw my money

Darren CM
United Kingdom
2024-05-14
ANSWER Dear Trader,Regrettably, all signs suggest that FIRE PHOENIX is a scam. We advise you to discontinue any engagement with this unregulated trading platform to prevent further financial losses and report this scam to your local authorities. As you've noted, they exploit your desire to earn money from investments repeatedly, concocting various unreasonable excuses to deceive you into sending them more money. Typically, legitimate brokers are transparent about their commissions and fees and will not request additional money each time.BrokersView has previously flagged FIRE PHOENIX as a scam due to its lack of oversight from financial regulators. This entity, which claims to be headquartered in the UK, has been flagged by the Financial Conduct Authority (FCA), the UK's financial regulator, as unauthorized. This is a significant indicator of a scam.We understand the distress and frustration this scam has caused you. However, we urge you to stay vigilant and avoid making impulsive decisions due to your losses. In particular, beware of another type of scam known as the Recovery Room Scam. In this scam, individuals or businesses claim they can help you trace or recover your funds. The FCA has issued a notice about this scam, advising investors not to trust it. This scam is designed to further drain the resources of victims.As a third-party service, we are committed to advocating for the rights of victims and providing support at no cost to you. We strive to ensure a fair resolution to your complaint. We encourage you to submit a complaint on our platform at https://www.brokersview.com/complaint. Your case plays a crucial role in our ongoing efforts to combat scams.
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What withdrawl method does FIRE PHOENIX offer?

Ali Hajveri
Jersey
2023-12-19
ANSWER FIRE PHOENIX is not authorized or licensed to operate as a forex broker. We strongly suggest avoiding engagement with it.Despite its claims of having MSB registration with the Financial Crimes Enforcement Network (FinCEN) and being domiciled in London, it has been revealed to be an unlicensed trading platform. Registration as an MSB does not necessarily imply that the business is licensed or authorized to operate. It also does not confer any form of endorsement or certification of legitimacy by a government agency. FIRE PHOENIX is not listed in the registers of either the National Futures Association (NFA) or the Financial Conduct Authority (FCA). This fact suggests that it operates illegally in both the US and the UK.Therefore, we advise steering clear of FIRE PHOENIX and other unlicensed forex brokers to avoid exposing yourself to fraud and identity theft. To mitigate such risks, it is much safer to choose fully regulated brokers with established reputations.
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