Phoenixprofit Key Facts
🔴 Phoenixprofit offers questionable investment opportunities – a clear sign of a scam!
🔴 Phoenixprofit forges crucial contact information – beware!
🔴 Phoenixprofit lacks a for the provision of its services – a huge red flag!
🔴 Phoenixprofit's domain has been registered only recently – another off-putting detail!
Phoenixprofit products and services
Phoenixprofit is yet another scam that prays on its victims using promises of impossible return rates – the cheapest investment plan with Phoenixprofit is stated to grant you returns of over 10% daily. This is not possible for any company to achieve – Phoenixprofit is simply after your profits.
People should always be cautious when dealing with businesses offering enormously high yields because it's scammers' trait to promise big and create unrealistic expectations. In reality, regulated financial companies cannot secure more than a few percents annually with their fixed-income products. There is a huge discrepancy between these offers and the regulated companies standards. Judging by the products and services they sell, we suspect it's a scam, so beware.
Phoenixprofit company and regulation
Phoenixprofit is not a regulated entity – the certificate it presents from the UK Companies House is completely irrelevant when it should be showing us an FCA license if we were to believe the company was regulated by the British authorities.
The US financial services regulation is very complex in the USA. Derivatives markets regulation is a responsibility of CFTC and NFA. Forex brokers and most of the investments companies have to be NFA members and CFTC registered to operate in the USA. On the other hand, securities markets are controlled by the SEC, a government independent agency responsible to maintain the integrity of the financial markets.
While SEC focuses more on the procedure regulation insisting on financial reports and management discussion and analysis, NFA and CFTC impose pretty straightforward requirements. To become authorised the companies have to provide 20 million USD in paid-up capital, which is considered a guarantee that the businesses can survive in turbulent times and pay whenever they have to.
Other customer protection measures include clients’ accounts segregation and leverage restrictions for forex brokers- 1:50. Also, CFTC brokers’ clients are not allowed hedging, which is one of the very unique US features. Unfortunately, the cryptocurrencies regulation is still inept, so traders and investors should be wary when dealing with crypto offers.
Phoenixprofit address and contacts
Phoenixprofit states it has an office on the following address – 34 High Street Anerley London, SE20 7QS United Kingdom. There is no way that is true, of course – the company does not have a UK license, as we have explained above.
Transparency is crucial when talking about brokers and investment companies, and it's part of the regulatory framework. The regulated companies are open to financial authorities following certain transparency rules, so it's generally unlikely to conduct fraudulent activities. They are also bound to provide the public with crucial information about themselves, making it easy for traders and investors to confirm the company's legitimacy.
Phoenixprofit website info
Phoenixprofit operates on quite the recent domain – one registered in October 2020. Recent domains are a scam sign – and so are unpopular ones. Phoenixprofit is quite unpopular too, with SimilarWeb not even listing it on its index. The people behind Phoenixprofit have concealed their identities from WhoIs lookups too – this is another breach of the principles of transparency.
The domain is hosted on the 162.0.232.168 IP address – this US IP co-hosts over 700 other domains that are unrelated to Phoenixprofit as far as we can tell.
Scam warning
We paid utmost attention to the regulation and transparency in the sections above because it’s mandatory for trading and investments. Pretty much each company offering financial services have to be authorised by the local financial authority.
However, some entities operate unlicensed and intentionally run investment fraud. It would be best if you only dealt with companies authorised by the regulators, so always check to make sure they are. Bear in mind that if you trade with unauthorised businesses, you won’t be protected, so it’s very likely to suffer losses almost impossible to recover if things go wrong.
Online scam is trending nowadays with fraudulent websites popping up literally every day. The financial authorities increase the number of warnings issued year after year, but the dangers are still out there and growing exponentially. You’ll realise the hazards when you consider OneCoin scam- it’s still impossible to calculate the total loss, but it’s regarded as 15 billion worth fraud. Make sure to trade with licensed and regulated companies to avoid off-putting losses.