MetaTrader 5
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Is Phyntex Markets a scam?
Wikilix independent safety report
70%Scam risk
Likely scamConfidence: MEDIUM
2.0/5Safety rating 2 out of 5
Treat Phyntex Markets as high risk. The Securities Commission Malaysia lists phyntexmarkets.com on its Investor Alert List for carrying on unlicensed capital market activities of dealing in securitie…
Risk scorecard · each area scored 0 (clean) to 10 (worst)
Regulation7/10 · HighIdentity & transparency4/10 · ModerateWithdrawals & conduct7/10 · HighReputation8/10 · CriticalWebsite claims8/10 · CriticalOperational history4/10 · Moderate
Editorial review
Broker Summary
What Wikilix has recorded about Phyntex Markets: its history, the licences it holds, its trading conditions and its fees.
Phyntex Markets Broker Overview
Phyntex Markets is the retail trading brand of Phyntex Group Limited, an offshore company that has been taking clients since August 2023 and trades at . It offers forex and CFDs on gold, oil and indices through MetaTrader 4 and MetaTrader 5, opens accounts from 15 USD, advertises leverage of up to 1:5000 and aims its marketing at South East Asia. No licence from a recognised financial markets regulator stands behind it.
Phyntex Markets Regulation and License
Phyntex Group Limited lists a Comoros forex trading licence numbered T2023344 on its own site, issued by the Mwali International Services Authority and effective from 17 August 2023. That body is an offshore registrar on the autonomous Comoros island of Mwali rather than a financial supervisor, and an entry on its brokerage list brings no compensation scheme and no meaningful supervision of client money.
The company also appears on the Money Services Business register of the Financial Transactions and Reports Analysis Centre of Canada, as Phyntex Group Limited operating as Phyntex Markets, under number M23303467. A FINTRAC registration is an anti-money-laundering registration rather than a permission to run a brokerage or to hold client trading funds, and FINTRAC issues no licences at all. That register records the entry as expired, with an end date of 31 August 2026.
Is Phyntex Markets Regulated?
No. Phyntex Markets has no confirmed regulation from any financial markets authority. Its Comoros licence comes from an offshore registrar that is not a recognised supervisor, and its Canadian entry is an anti-money-laundering registration that has lapsed. Clients trade without a statutory compensation scheme and without an external ombudsman to escalate a dispute to.
Phyntex Group Limited
Phyntex Markets is a trading name of Phyntex Group Limited, which the broker's own legal pages describe as an International Business Company registered in Mwali, Union of the Comoros, under number HY00823421, with a registered address care of Moheli Corporate Services Ltd at P.B. 1257, Bonovo Road, Fomboni. A company registration of this kind proves only that an entity exists; it is not financial regulation, and this one has not been confirmed against the registrar's own records. A separate, same-named Phyntex Group Limited is registered in Colorado, United States, under number 20238080795, formed on 12 October 2023; the Colorado Secretary of State lists it as Delinquent since 1 March 2025. The only office address the broker publishes for clients is in Istanbul, so the contracting company and the place the business is run from sit in different jurisdictions.
Is Phyntex Markets Safe?
Phyntex Markets carries the risks of an offshore broker that no financial regulator supervises. There is no client fund insurance and no compensation scheme behind the accounts, no onshore authority to complain to, and the leverage on offer reaches a level supervised brokers are not allowed to provide. Against that, the operator names a legal entity and a company number, has been trading since 2023, and publishes its account terms, payment channels and support contacts on its own site. Those are reasons it is not opaque, not reasons it is supervised.
Phyntex Markets Account Types
Two live tiers are published. Cent opens from 15 USD with leverage up to 1:2000 and variable spreads from 0.8 pips. Standard opens from 25 USD with leverage up to 1:5000 and variable spreads from 1.8 pips. Neither charges a commission. A third tier named Bonus appears in the broker's own FAQ, but no minimum deposit, leverage or spread is published for it. Both live accounts are advertised as swap free for 60 days.
Phyntex Markets Spreads, Commissions and Fees
Trading costs sit entirely in the spread, which is variable and quoted from 0.8 pips on Cent and from 1.8 pips on Standard, with no commission on either tier. The broker states that it charges no deposit fee of its own and advises clients to check what their payment provider charges. No withdrawal fee, inactivity fee or account maintenance fee is published, so the full cost of funding, holding and closing an account cannot be read off the site.
Phyntex Markets Leverage
The account cards show leverage of 1:5000 on Standard and 1:2000 on Cent, but the Leverage Calculation table under both cards sets leverage by account equity, from 1:2000 up to 500 USD down to 1:100 above 50,000 USD, so the headline figure is not a fixed level. Caps at that level are not available from supervised onshore brokers, and they leave very little room between a small adverse move and the loss of the account balance.
Phyntex Markets Trading Platforms
Both MetaTrader platforms are offered and there is no proprietary alternative. MetaTrader 5 is published as a desktop download for Windows and Mac, a browser based terminal and Android and iOS apps. MetaTrader 4 is published as a desktop download for Windows and Mac and as Android and iOS apps, with guidance for running it under Linux, but with no browser terminal.
Phyntex Markets Deposits and Withdrawals
Three funding channels are published: online banking, a local deposit option offered in selected countries only, and Tether on the TRC20 or ERC20 networks, which carries its own minimum of 250 USD. The 15 USD headline minimum therefore belongs to the Cent account funded through a banking channel and not to every payment route. Withdrawals are normally returned through the channel used for the deposit, and bank transfers are stated to take a few business days. No card or e-wallet option is published, and no withdrawal fee, channel limit or crypto processing time is given.
Phyntex Markets Support
Support is offered in English only. Live chat is available during business hours, with email at support@phyntexmarkets.com and a telephone number on the Turkish +90 850 range, and the broker states support hours of 24 hours a day on weekdays. The client contact address it publishes is Tekstilkent Cad. G2 Blok No:10/AD 2020, Esenler, Istanbul, and there is a FAQ on the site.
Phyntex Markets Pros and Cons
Strengths
- A low entry cost, with the Cent tier opening from 15 USD and no commission on either live tier.
- Both MetaTrader platforms, with desktop, browser and mobile coverage on MetaTrader 5.
- A named operating company, a company number, and published account and payment terms.
Limitations
- No regulation by a recognised financial markets authority, and no compensation scheme behind client funds.
- A Canadian anti-money-laundering registration that the register records as expired.
- Leverage of up to 1:5000, well beyond supervised limits.
- Thin cost disclosure, with no withdrawal fees, channel limits or crypto processing times published.
- Funding limited to bank channels and Tether, with no cards or e-wallets.
Phyntex Markets Review and Assessment
Phyntex Markets pairs an ordinary MetaTrader offering and a very low entry price with an offshore structure: a Comoros registered company, a support operation contactable in Istanbul, and no supervision from a financial markets regulator. Its site-wide regional notice says it does not serve the Americas, Europe, the CIS countries, the Arab states or Türkiye. Yet its own registration form still offers Türkiye among the 135 countries of residence it accepts, so confirm eligibility before any deposit. The decisive question before funding an account is not the platform or the spread but whether to place money with an operator whose only financial authority registration is an expired anti-money-laundering entry.
Website archive
Website snapshots
8 full-page captures of Phyntex Markets's own site, archived so what they said can still be read after the pages change.
8 pages
Regulation check
Regulatory Licenses
We have not confirmed any regulation for Phyntex Markets. Money deposited with an unregulated broker is protected only by the company itself.
No regulation
Trading with an unregulated broker puts your deposit at risk.
No regulation
We have not confirmed any regulation for Phyntex Markets. An unregulated broker is not supervised by a financial authority, and money you deposit is protected only by the company itself.
What this means for you
- No compensation scheme covers your funds.
- No regulator to escalate a complaint to.
- No audit of how client money is held.
Trading accounts
Account Types
3 account types on record. Minimum deposit from USD 15. Leverage up to 1:5000.
3 account types
| Account | Min Deposit | Max Leverage | Commission |
|---|---|---|---|
| CentCent | USD 15 | 1:2000 | No commission |
| StandardStandard | USD 25 | 1:5000 | No commission |
| BonusStandard | Not recorded | Not recorded | Not recorded |
Client acceptance
Country availability
Where Phyntex Markets says it will and won't take clients
214 countries
Likely blocked
Reported, not verified against a primary source
BSBahamasCACanadaCUCubaPAPanamaUSUnited StatesVCSaint Vincent and the GrenadinesALAlbaniaADAndorraATAustriaBYBelarusBEBelgiumBABosnia and Herzegovina
Show 48 moreShow fewer
BGBulgariaHRCroatiaCYCyprusCZCzechiaDKDenmarkEEEstoniaFIFinlandFRFranceDEGermanyGRGreeceHUHungaryISIcelandIEIrelandITItalyLVLatviaLILiechtensteinLTLithuaniaLULuxembourgMTMaltaMDMoldovaMCMonacoNLNetherlandsMKNorth MacedoniaNONorwayPLPolandPTPortugalRORomaniaRURussiaSMSan MarinoRSSerbiaSKSlovakiaSISloveniaESSpainSESwedenCHSwitzerlandGBUnited KingdomVAHoly SeeKGKyrgyzstanTMTurkmenistanIQIraqLBLebanonLYLibyaPSPalestineSOSomaliaSDSudanSYSyriaYEYemenTHThailand
Covered by a parent block
Territories a blocked country carries with it
PRPuerto RicoVIVirgin Islands (U.S.)GUGuamASAmerican SamoaMPNorthern Mariana IslandsAIAnguillaGIGibraltarGGGuernseyJEJerseyIMIsle of ManSHSaint HelenaGFFrench Guiana
Show 7 moreShow fewer
RERéunionYTMayotteBQBonaire, Sint Eustatius and SabaGLGreenlandFOFaroe IslandsAXÅland IslandsSJSvalbard and Jan Mayen
Explicitly accepted
Named as accepted — not a full list of served markets
MYMalaysiaIDIndonesiaVNViet NamDZAlgeriaAGAntigua and BarbudaARArgentinaAMArmeniaAWArubaAZAzerbaijanBHBahrainBDBangladeshBBBarbados
Show 123 moreShow fewer
BZBelizeBMBermudaBOBoliviaBRBrazilBNBrunei DarussalamBFBurkina FasoBIBurundiCVCabo VerdeKHCambodiaCMCameroonKYCayman IslandsTDChadCLChileCCCocos (Keeling) IslandsCOColombiaKMComorosCKCook IslandsCRCosta RicaCWCuraçaoDJDjiboutiDMDominicaDODominican RepublicECEcuadorEGEgyptSVEl SalvadorGQEquatorial GuineaETEthiopiaFKFalkland IslandsFJFijiPFFrench PolynesiaGAGabonGMGambiaGEGeorgiaGHGhanaGDGrenadaGPGuadeloupeGTGuatemalaGYGuyanaHTHaitiHNHondurasINIndiaJMJamaicaJPJapanJOJordanKZKazakhstanKIKiribatiKWKuwaitLALaosLSLesothoLRLiberiaMOMacaoMGMadagascarMWMalawiMVMaldivesMLMaliMHMarshall IslandsMQMartiniqueMRMauritaniaMXMexicoFMMicronesiaMNMongoliaMEMontenegroMSMontserratMAMoroccoMZMozambiqueNANamibiaNRNauruNPNepalNCNew CaledoniaNINicaraguaNENigerNGNigeriaNUNiueNFNorfolk IslandOMOmanPKPakistanPWPalauPGPapua New GuineaPYParaguayPEPeruPHPhilippinesPNPitcairnQAQatarRWRwandaBLSaint BarthélemyKNSaint Kitts and NevisLCSaint LuciaMFSaint Martin (French part)PMSaint Pierre and MiquelonWSSamoaSTSao Tome and PrincipeSASaudi ArabiaSNSenegalSCSeychellesSLSierra LeoneSGSingaporeSXSint Maarten (Dutch part)SBSolomon IslandsZASouth AfricaGSSouth Georgia and the South Sandwich IslandsKRSouth KoreaLKSri LankaSRSurinameTJTajikistanTZTanzaniaTGTogoTKTokelauTOTongaTTTrinidad and TobagoTNTunisiaTRTürkiyeTCTurks and Caicos IslandsTVTuvaluUGUgandaUAUkraineAEUnited Arab EmiratesUYUruguayUZUzbekistanVEVenezuelaVGVirgin Islands (British)WFWallis and FutunaZMZambiaZWZimbabwe
How we know — 12 sources
- 1Onboarding authority: the live registration form at https://ma.phyntexmarkets.com/sign-in/?registration offers a closed country-of-residence list of 135 jurisdictions. Those 135 countries form the accepted list. The list is closed, with no 'other' option, so a jurisdiction outside it cannot complete registration.
- 2Stated policy: the standing 'Regional Restrictions' paragraph published on every page of https://phyntexmarkets.com reads 'Phyntex Group Limited currently only accepts clients from Asia & Pacific confederation specifically from South East Asia. Phyntex Group Limited does not provide services to residents of the Americas region, Türkiye, Arab states, CIS countries, and European nations.'
- 3Regions are not countries, so the countries in the Americas, the Arab states, the CIS and the European nations are likely refusals, not confirmed ones. The countries listed are the members of those four groups that the registration form also does not offer. From the Americas: the Bahamas, Canada, Cuba, Panama, the United States and Saint Vincent and the Grenadines. From the European nations: 43 states, including the United Kingdom, Germany, France, Italy, Spain, the Netherlands, Poland, Russia and Moldova. From the CIS: Kyrgyzstan and Turkmenistan. From the Arab states: Iraq, Lebanon, Libya, Palestine, Somalia, Sudan, Syria and Yemen.
- 4Türkiye is the only country the broker names by name, and its own registration form offers Türkiye as a selectable country of residence. The form controls onboarding, so Türkiye is on the accepted list, not the refused list. The disagreement is between the site-wide paragraph quoted above, visible for example at https://phyntexmarkets.com/client-agreement, and the form at https://ma.phyntexmarkets.com/sign-in/?registration. This conflict is why no country is listed as a confirmed refusal for this broker.
- 5The deposit bonus terms at https://phyntexmarkets.com/deposit-bonus-terms name the markets the broker says it serves: 'Reside in one of the Selected Regions (Malaysia, Thailand, Brunei, Singapore and Philippines only)'. The registration form offers Malaysia, Brunei, Singapore and the Philippines but not Thailand. The form decides, so Thailand is listed as probably refused, and the two pages conflict.
- 6Dependent territories: Puerto Rico, the US Virgin Islands, Guam, American Samoa, the Northern Mariana Islands, Anguilla, Gibraltar, Guernsey, Jersey, the Isle of Man, Saint Helena, French Guiana, Reunion, Mayotte, Bonaire, Sint Eustatius and Saba, Greenland, the Faroe Islands, the Aland Islands, and Svalbard and Jan Mayen. They belong to states covered by the Americas or European wording above. None is named anywhere, and none is offered in the registration form.
- 7The client agreement at https://phyntexmarkets.com/client-agreement, last updated 31 January 2026, carries a clause 6 headed 'Legal Restrictions' that names no country or jurisdiction. It says only that the facility 'is NOT accessible where access is illegal' and that 'in certain jurisdictions' access 'may be restricted'. The same agreement, under the same title and date, is the document served to registrants from the client portal.
- 8The site publishes no dedicated restricted or accepted countries page. Its own sitemap at https://phyntexmarkets.com/sitemap.xml lists 19 pages and none is a countries page, and the candidate paths /restricted-countries, /prohibited-countries, /accepted-countries and /where-we-operate all return not-found. The FAQ at https://phyntexmarkets.com/faq lists 17 questions, none about residency or eligibility. No anti-money-laundering or know-your-customer policy is published on the site or the client portal, there is no standalone deposit or withdrawal page, and the partner page at https://phyntexmarkets.com/partners carries no country eligibility list.
- 9The site is published in English only: the language selector offers English alone, no locale-prefixed variant resolves, and no alternate-language version is declared, so the language line-up gives no further market signal.
- 10Iran is listed neither as accepted nor as refused. It is not among the 135 jurisdictions the registration form offers, and no page of the broker's site names Iran, Persian-language service or local rial funding.
- 11A jurisdiction that the broker's pages never mention and the registration form does not offer is in neither list, because the closed accepted list already states who can register. A country is listed as refused only where the broker's text points to a refusal, either by naming the group the country belongs to or by claiming to serve a market its form refuses.
- 12The about page at https://phyntexmarkets.com/about-phyntex advertises Canadian regulatory compliance while Canada is neither offered in the registration form nor carved out of the Americas wording. These notes do not assess that claim.
Deposits & withdrawals
Funding Methods
3 ways to fund an account. 3 with no deposit fee.
3 methods
| Method | Deposit fee | Withdrawal fee | Min deposit | Withdrawal min / max | Processing |
|---|---|---|---|---|---|
Online BankingBank TransferThe broker states it charges no deposit fees but advises clients to check with their own payment provider for its charges. Withdrawal timing is stated only as a few business days for bank transfers. No per-channel minimum, maximum or withdrawal fee is published. | Free | Not recorded | Not recorded | Not recordedNot recorded | Not recorded |
USDT (TRC20/ERC20)CryptocurrencyNetwork availability (TRC20 or ERC20) varies by region. The broker states it charges no deposit fees. It publishes no withdrawal fee, no maximum and no processing time for crypto. | Free | Not recorded | USD 250 | Not recordedNot recorded | Not recorded |
Local Deposit (LD)Bank TransferAvailability is limited to selected countries and the broker directs clients to its support team to confirm availability in their region. No fee, limit or processing time is published for this channel specifically. | Free | Not recorded | Not recorded | Not recordedNot recorded | Not recorded |
Trading software
Trading Platforms
2 trading platforms on record: MetaTrader 5 and MetaTrader 4.
2 platforms
MetaTrader 4
Offered as a desktop download for PC and Mac and as Android and iOS apps, with a link to guidance on running it under Linux. No browser terminal is published for this platform.
Runs on
- Windows
- Mac
- Linux
- Android
- iOS
DownloadDetails
Websites
Global Domains
5 domains on record. All active and served over HTTPS.
5 domains
Legal entities
Corporate Network
One legal entity behind the Phyntex Markets brand.
1 entity
- Phyntex Group LimitedActiveComorosRegistration HY00823421Operating entity the broker names on its own legal pages; Phyntex Markets is stated to be a trading name of this company.
Company registry check
Company Registration
Phyntex Markets names Phyntex Group Limited as the operating company. We could not confirm that registration on the registry.
Not confirmed on registry
- Legal entity
- Phyntex Group Limited
- Registration number
- HY00823421
- Jurisdiction
- Comoros
- Incorporated
- Aug 11, 2023
- Registry
- Mwali International Services Authority (MISA)
- Registered address
- Moheli Corporate Services Ltd, P.B. 1257, Bonovo Road, Fomboni, Comoros
Peer comparison
Brokers worth comparing
3 other brokers on the record share what Phyntex Markets offers — its country, regulator, account types or platforms — set beside it on the same measures.
3 peers
Phyntex Markets
This recordComoros · since 2023· Phyntex Group LimitedWikilix score 35.0RegulationNo RegulationMax leverage1:5000Platforms2LicencesNot recordedBrex Capital
Comoros· Brex Capital LLCWikilix score 35.0RegulationOffshoreMISAMax leverage1:3000Platforms1Licences2STARTRADER
Seychelles · since 2012· STARTRADER LimitedWikilix score 35.0RegulationRegulatedFSAMax leverage1:1000Platforms4Licences4Tag Markets
Mauritius · since 2024Wikilix score 35.0RegulationNo RegulationMax leverage1:500Platforms1LicencesNot recorded
Frequently Asked Questions
Frequently Asked Questions
Common questions about Phyntex Markets
Most Popular Questions
Accounts are opened through the broker's client portal, which every page of its site links to as Open Account. Registration asks for a country of residence from a closed list of 135 jurisdictions, so someone outside that list cannot complete it, and the entry level Cent account requires 15 USD.
Phyntex Markets offers forex trading and CFDs on gold, oil and indices. It does not publish how many instruments each of those classes contains, so the size of the product range cannot be confirmed from its site.
The home page states that withdrawal requests are approved in less than 24 hours. That is the approval step, not the arrival of the money: the broker publishes a timescale only for bank withdrawals, which it states take a few business days, and funds are normally returned through the channel used for the deposit. No processing time is published for Tether withdrawals, and no withdrawal fee or limit is published for any channel.
Phyntex Markets says it serves clients in the Asia Pacific region and specifically South East Asia, and its site-wide regional notice states that it does not provide services to residents of the Americas, Türkiye, the Arab states, the CIS countries or European nations. Its own registration form offers a closed list of 135 countries of residence, and that list still includes Türkiye, so confirm eligibility with the broker before depositing.
Two live tiers are published. Cent opens from 15 USD with leverage up to 1:2000 and spreads from 0.8 pips. Standard opens from 25 USD, with leverage shown as 1:5000 on its card while its leverage table starts at 1:2000 and falls as account equity grows, and spreads from 1.8 pips. Neither charges a commission. A third tier named Bonus appears in the broker's own FAQ with no published minimum deposit, leverage or spread, and both live accounts are advertised as swap free for 60 days.
Trading costs are carried in the spread. There is no commission on either live account, with variable spreads from 0.8 pips on Cent and from 1.8 pips on Standard. The broker states that it adds no deposit fee of its own, and it publishes no withdrawal fee, inactivity fee or account maintenance fee.
Phyntex Markets carries the risks of an offshore broker that no financial regulator supervises. There is no client fund insurance or compensation scheme behind the accounts, no onshore authority to take a complaint to, and leverage of up to 1:5000 on offer. The operator does name a legal entity and company number and publishes its account and payment terms, but none of that substitutes for regulation.
Phyntex Markets is a trading name of Phyntex Group Limited, the company that contracts with clients. The broker presents it as an International Business Company registered in Mwali, Union of the Comoros, under number HY00823421, with a registered address care of Moheli Corporate Services Ltd at P.B. 1257, Bonovo Road, Fomboni. That is a company registration and not financial regulation.
Support is offered in English only, through live chat during business hours, email at support@phyntexmarkets.com and a telephone number on the Turkish +90 850 range. The broker states support hours of 24 hours a day on weekdays, and publishes a FAQ on its site. The client contact address it gives is in Esenler, Istanbul.
The broker's own figures disagree. Its account cards show leverage of 1:2000 on Cent and 1:5000 on Standard, but the Leverage Calculation table under both cards sets leverage by account equity: 1:2000 up to 500 USD, 1:1000 up to 1,000 USD, 1:500 up to 20,000 USD, 1:200 up to 50,000 USD and 1:100 above that. So 1:5000 is the card's headline, not a fixed level. Leverage at these levels is not permitted by supervised onshore regulators, and it leaves very little room between a small adverse move and the loss of the account balance.
Phyntex Markets publishes three funding channels: online banking, a local deposit option available in selected countries only, and Tether on the TRC20 or ERC20 networks. Withdrawals are normally returned through the channel used for the deposit, and bank transfers are stated to take a few business days. No card or e-wallet option is published.
The minimum deposit is 15 USD on the Cent account and 25 USD on the Standard account. It does not apply to every payment route: funding with Tether carries its own minimum of 250 USD.
Phyntex Markets offers both MetaTrader 4 and MetaTrader 5. MetaTrader 5 is published as a desktop download for Windows and Mac, a browser based terminal and Android and iOS apps. MetaTrader 4 is published as a desktop download and as Android and iOS apps, without a browser terminal. There is no proprietary platform.
No. Phyntex Markets, operated by Phyntex Group Limited, holds no licence from a recognised financial markets regulator. Its Comoros licence T2023344 comes from the Mwali International Services Authority, an offshore registrar rather than a financial supervisor, and its Canadian entry with FINTRAC is an anti-money-laundering registration rather than a trading licence, which that register records as expired. Clients have no statutory compensation scheme behind their funds.
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