Score
Comoros
|
2-5 years
| https://phyntexmarkets.com/
Website
Rating Index
MT4/5
Full License
PhyntexGroupLimited-Live
Influence
C
Influence index NO.1
Malaysia 5.71
MT4/5 Identification
Full License
SingaporeInfluence
C
Influence index NO.1
Malaysia 5.71
LicensesNo valid regulatory information, please be aware of the risk!
Comoros
Formal full license MT4/5 traders will have sound system services and follow-up technical support. Generally, their business and technology are relatively mature and their risk control capabilities are strong
phyntexmarkets.com United States
VIP is not activated.
| Phyntex MarketsReview Summary | |
| Founded | 2023 |
| Registered Country/Region | Comoros |
| Regulation | No regulation |
| Market Instruments | Forex, Commodities, Indices CFD, Stocks CFD, Cryptocurrencies CFD, ETFs, Stocks |
| Demo Account | ❌ |
| Leverage | Up to 1:5000 |
| Spread | From 1.8 (Standard Account) |
| Trading Platform | MT5 |
| Min Deposit | $15 |
| Customer Support | Phone: + 914-294-5211 |
| Email: support@phyntexmarkets.com | |
| Online Chat: 24/5 | |
| Physical Address: 338, Jln Tun Razak, Kampung Datuk Keramat, 55000 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur | |
Phyntex Markets, incorporated in Comoros in 2023. As a broker offering trading in Forex, commodities, indices and various CFDs, it also offers 4 account types as well as MT5 as a trading platform. It also supports commission-free trading. But as things stand, Phyntex Markets are not regulated.
| Pros | Cons |
| 4 account types | No regulation |
| Free of commission | Demo accounts are not available |
| MT5 is available |
Phyntex Markets is currently unregulated. The search revealed that its website was registered in 2023.
Phyntex offers traders currency pairs, including major currency pairs, minor currency pairs, exotic currency pairs. Commodities can be traded in precious metals and energy, such as gold, silver and crude oil. In addition, it supports trading indices, CFD stocks, CFD cryptocurrencies, CFD ETFs and stocks.
| Tradable Instruments | Supported |
| Forex | ✔ |
| Commodities | ✔ |
| Indices | ✔ |
| CFD Stocks | ✔ |
| CFD Cryptocurrencies | ✔ |
| CFD ETFs | ✔ |
| Stocks | ✔ |
| Bonds | ❌ |
Phyntex offers 4 account types: Standard, Bonus, Premium and Cent. Among them, the lowest deposit requires $15, and the maximum leverage is 1:5000.
| Account Types | Standard | Bonus | Premium | Cent |
| Bonus Amount | $25 | $25 | $100 | $15 |
| Spread from | 1.8 | 1.8 | 0.3 | 0.8 |
| Leverage | 1:5000 | 1:2000 | 1:2000 | 1:3000 |
| Commission | No | No | No | No |
| Swap-free Period | 60 Days | 60 Days | 60 Days | 60 Days |
| Max Order | 200 | 200 | 200 | 300 |
The four accounts have a starting spread range of 0.3 to 1.8 and are commission-free. In addition, they waive swap fees for a limited period of time, 60 days.
Phyntex supports MT5 and traders can use the desktop, mobile and tablet versions.
| Trading Platform | Supported | Available Devices | Suitable for |
| MT5 | ✔ | Skilled traders | |
| MT4 | ❌ |
Phyntex's payment methods include bank transfers, credit/debit cards and electronic payment systems with no deposit fees.
In terms of withdrawal processing time, PSP withdrawals are usually faster and bank transfers can take several business days.
Phyntex Markets is a forex and CFD broker established in 2023, headquartered in the Comoros. It offers trading services via the MetaTrader 5 (MT5) platform, catering primarily to clients in Southeast Asia. While the broker provides features such as low minimum deposits and high leverage, there are significant considerations regarding its regulatory status and customer feedback.
In this article, WikiFX made a comprehensive review of a broker named Phyntex Markets to help you better understand the truth.
Phyntex Markets offers leverage up to 1:5000, which I find quite high compared to other brokers. Personally, I think this is great for experienced traders looking to maximize their trades, but I would advise being cautious, as high leverage can significantly increase both potential profits and risks.
The spreads on Phyntex Markets depend on the account type. On the Standard Account, I’d be looking at a spread starting from 1.8 pips, which is not the tightest I’ve seen but still reasonable. On the Premium Account, the spread is much tighter, from 0.3 pips. Personally, I’d go for the Premium Account if I was looking for lower trading costs, especially for short-term trades or scalping.
No, Phyntex Markets is not regulated. It was established in 2023 and is based in Comoros. Personally, I find this quite concerning because being unregulated means there are no guarantees or oversight protecting my funds. When trading, I prefer platforms that are regulated by recognized authorities for the added security and peace of mind that they provide.
The minimum deposit required at Phyntex Markets is $15, which I think is very affordable for new traders looking to get started with a small budget. Personally, I appreciate platforms that offer low entry barriers like this, as it allows me to test the waters before making a bigger commitment.
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FX1886668769
Malaysia
The platform directly closed my account and then refused to allow withdrawals. I have asked customer service for help but have not received a reply.
Exposure
Zutter
Nigeria
Phyntex Markets makes it easy to fund your account with a variety of payment methods, which is super convenient. And their commission rates are super competitive, too! So you can trade with peace of mind knowing you're getting a good deal.
Positive
cy63697
Peru
Phyntex Markets responded promptly. It turned out that there was a mixup with my banking information. I received the refund of $1000 from FXCM today. Now I can redeposit via the proper avenue, so that I could start trading asap.
Positive
Gentel
Cyprus
Hey fellow traders, just wanted to share my two cents on Phyntex Markets. Brace yourselves, it's been a bit of a rollercoaster. First off, the platform itself – it's clean, user-friendly, and navigation is a breeze. Big plus for someone like me who appreciates simplicity. Now, education-wise, they've got a decent array of resources. Webinars, articles, and analysis – a good mix for both beginners and those diving deeper into the trading world.
Positive