PhenoFX is an offshore broker and it is an unreliable one. Please read PhenoFX review before investing. The broker is not regulated by any of the known regulatory authorities in the jurisdiction. This broker offers operations in many asset classes and provides investment services in many countries throughout the globe without having a proper license from any of the known regulators like SEC, ASIC, FCA, BaFin, CNMV, CySEC, etc. On investigating online we found that there are many negative PhenoFX reviews and complaints on different broking forums. This is a red flag, for PhenoFX broker can be possible scam/fraud. Your investments/funds may not be secured if you are trading with this broker.
Website – phenofx.com
Official Address – NA
Warned by regulating authority – Ontario Securities Commission (Ontario)
It is a scam investment website that claims to trade in forex and cryptocurrencies. The site owners claim to have invested all their expertise and technical knowledge to create a website that will give super experience to its client.
Deposits can be done in fiat currencies like GBP, USD, and Euro, and cryptocurrency only Bitcoin.
At withdrawal time they ask you to pay taxes. This is a hidden condition when you sign up. People behind this website keep launching new apps and websites under different names and scam people. Moreover, you can striking resemblance between the sites.
Phenofx.com trading is just a scam site and you can read reviews on our website. We constantly update the review section so you can be aware of the latest scam that is prevailing. Also read a complete PhenoFX Review to know more about this broker.
PhenoFX Review: Probable scam activities of fraud/scam broker
- Described briefly below are some of the possible scam/fraud activities of PhenoFX broker and hence we do not advise you to work with this broker.
- The terms and conditions of PhenoFX broker are such, that it makes withdrawal impossible. Even it is not possible to bonus. The rules and regulations condition are kept purposefully in such a way to defraud traders/investors.
- The broker calls you umpteen times to invest more and more amounts in the account.
- Claims made through the website are untrue and are virtually not possible to achieve, execute or discharge.
- Returns on investments (ROI) promised by PhenoFX broker on his website are nearly impossible to achieve.
- Risk warnings while trading is not declared/disclosed on the webpage or would be disclosed in very small fonts at some corner of the page which is hardly readable/noticeable.
- The broker is active in the initial period; later on, he may not communicate with you or avoid replying altogether. He may change the URL or company’s name without notifying traders.
- The broker may be operating from those countries where regulation rules are lenient or vague. More often than not these countries are heaven for scam brokers.
- In the initial period, the broker will show you that you are making huge gains/profits but as soon as you submit a withdrawal request, your trades start making losses. Or they will point out some of their illegitimate rules of withdrawals whereby it will be impossible to withdraw.
Negative PhenoFX review and complaints
On surfing the internet or social media sites you will find many negative PhenoFX reviews and complaints of withdrawals of PhenoFX broker. We also examined and scrutinized PhenoFX broker online and other scam features, and hence included this broker in our list of scam brokers 2022.
PhenoFX Review: What the reviews and complaints of PhenoFX broker are in general?
After reading many PhenoFX reviews and complaints from the broker we concluded that account holders are frustrated and are unable to withdraw their funds. The broker has cheated on them and is not fulfilling his promise. There is no transparency in the broker’s operation. PhenoFX broker is now no longer communicating with them through any channels. Have blocked or suspended the account.
PhenoFX Review: How to get your stolen/lost money back from PhenoFX broker?
The best route to recover your stolen/lost money from PhenoFX broker is Scams Report.
Scams Report has a committed team of experts from different fields. The combined team has years of experience and expertise dealing with fraud/scam broking companies. The Scams Report provides free consultation to those victims who have filled out a free consultation form and submitted it to us. We help you build up a solid case against the scammers without leaving any escape route for them, to regain your funds.
Many investors/traders feel that it is impossible to get their money back from these fraud/scam brokers. Let me assure you there is nothing like impossible. Many victims feel they are alone, be assured you are not alone; the scam broker has scammed many innocent investors and disappeared into thin air. He has scammed people in the past, is presently scamming, and will continue his activity in the future. Even the most cautious traders/investors make mistakes and fall into the booby trap laid by the scammers.
Precaution is better than cure. Before investing, stay alert, read reviews on different channels, after it is your hard-earned money. Happy investing/trading.
We have more than 10 years of experience in the field of funds recovery services from all types of scams like Forex trading scams, Binary Trading Scams, Cryptocurrency scams, Online Scams, Investment Scams and all other financial scams. Scamsreport is a genuine recovery organization and deploy all modern methods to help the victims of scams.
Hope this PhenoFX Review is helpful for you.
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