Phyx Trade Warning: Extra Deposit Requests & Regulatory Red Flags Explained

In the FTI app,Which Precious Metals Trading Platform is Formal you can refer to the top 100 forex brokers for your trading needs. If a broker is not in the top 100, pay close attention to their regulatory licenses, white label relationships, and risk warnings.

Today, I'd like to help everyone evaluate a forex broker. Recently, investors have complained that this forex broker is unable to process withdrawals.

Basic Information

1. Broker Name: PhyxTrade

2. Company Name: PhyxTrade Ltd.

3. Registered On: 2025-03-07

4. Safety Score: 40 / 100 (High risk – for reference only)

5. MT4/MT5 Servers: 2 MT5 servers (US-based)

6. White Label Connections: None reported

7. Regulation/License:Registered with the Saint Lucia International Financial Center (IFC). ⚠️ Important note: IFC does not regulate forex or brokerage activities. This means Phyx Trade does not hold a recognized forex trading license.

What Are the Risks?

New Domain: 

Phyx Trade’s domain was registered in March 2025. New brokers often lack a proven track record, making risk assessment harder.

Regulatory Gaps: 

While the company is registered in Saint Lucia IFC, this entity does not provide oversight or investor protection for forex trading. Investors dealing with Phyx Trade may not have regulatory recourse if disputes arise.

Trader Complaints: 

Online, some traders claim that after depositing funds, their accounts were suddenly frozen. They were reportedly asked to pay an additional $33,000 to “unlock” the account. Even after this, withdrawals were allegedly blocked.

• We cannot verify the accuracy of these claims.

• However, as a general warning:legitimate brokers never demand extra deposits, taxes, or fees to release withdrawals. Such requests are a well-known red flag in the industry.

Key Takeaways

1. Very new broker with limited history.

2. No valid forex license; Saint Lucia IFC registration does not equal regulation.

3. Complaints about withdrawal barriers and extra fees raise serious concerns.

4. Investors should remain cautious and avoid platforms that request extra deposits for withdrawal.

Reminder

Always verify a broker’s regulatory license through official financial authority websites (e.g., FCA, ASIC, NFA). Offshore registration alone does not guarantee safety. If a platform makes suspicious demands for extra money, it’s often safer to stop further deposits immediately.

Disclaimer: This article is based on publicly available information and user reports. It is provided for informational purposes only and does not constitute financial advice. Investors should conduct independent research before making decisions.

Stay away from low rated, unregulated forex brokers!

Before trading, check brokers in FTI app; if you encounter any problems, you can file a complaint for help.

Click here to see how to check if a broker is safe and what to do if you encounter a scam broker.

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Statement: The content of this article does not represent the views of FTI website. The content is for reference only and does not constitute investment suggestions. Investment is risky, so you should be careful in your choice! If it involves content, copyright and other issues, please contact us and we will make adjustments at the first time!