Company Summary
| 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 Information
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 and Cons
| Pros | Cons |
| 4 account types | No regulation |
| Free of commission | Demo accounts are not available |
| MT5 is available |
Is Phyntex Markets Legit?
Phyntex Markets is currently unregulated. The search revealed that its website was registered in 2023.
What Can I Trade on Phyntex Markets?
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 | ❌ |
Account Types
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 |
Phyntex Markets Fees
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.
Trading Platform
Phyntex supports MT5 and traders can use the desktop, mobile and tablet versions.
| Trading Platform | Supported | Available Devices | Suitable for |
| MT5 | ✔ | Skilled traders | |
| MT4 | ❌ |
Deposit and Withdrawal
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.
FX4035791184
Malaysia
Broker processed a successful withdrawal of USD 50,000, confirming account legitimacy. Subsequently, the broker blocked withdrawal of the remaining wallet funds amounting to USD 58,271.03. A formal Letter of Demand was issued. No response, no specific Terms & Conditions clause, and no compliance report has been provided. The broker later alleged “toxic trading” solely based on leverage usage, which is a feature provided by the broker itself.
Exposure
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