No sign that Phase Forex actively operates in your country (United States). If you were solicited from here, be extra cautious — it may be an unregulated approach or a clone.

Severe risk

Scam Risk Scoremonitored · 2026-07-28

Lower riskHigher risk

No verified regulatory license on file
Listed as “Fake Broker” in industry watchdog records
Identified as a clone / impersonator firm
Withdrawal complaints in ~100% of recent reviews

How this score is calculated — view the open algorithm

A transparent weighted score from objective public data — each factor scored 0–100 (higher = riskier), combined by the weights below.

Factor	Score	Weight
Regulation & licensing	97	35%
Company age	45	15%
Clone / impersonation	100	12%
Withdrawal & exposure complaints	18	12%
Offshore registration	10	8%
Transparency (site/info/social)	25	10%

Based on public regulatory records, industry databases and independent reviews (Trustpilot, Forex Peace Army). Exit Risk reflects recent negative momentum in real reviews. A risk estimate from public data, not a definitive legal judgment; brokers may request a correction.

Company

Legal namePhase Forex.

Headquarters🇨🇾 Cyprus

Founded2021-08-09

Years operating2-5 years

Employees0

Official websitephaseforex71.com

Trading conditions

Avg execution speed0 ms

Avg slippage0

Swap rating—

Trading cost rating—

Monitored traders0

Monitored orders0

Funding & instruments

Deposit methods—

Withdrawal methods—

Instruments—

Registered address

B1 359 28th October street,, WTC Cyprus - Trust Re Building, Limassol 3107, Kıbrıs VFSC (reference number 40387)

Regulation & licenses · 0

No valid regulatory license found — high caution advised.

Review analysis AI

Phase Forex is an unregistered and unregulated broker with a severe risk rating. The absence of any effective regulatory oversight makes it unsuitable for retail trading. Traders should avoid this entity entirely.

Not for

Traders seeking regulated brokers
Anyone considering deposits without verified licences

Period:

What users complain about

Where reviewers are from

Argentina1

Real user reviews

Where Phase Forex operates

Based on its licenses and complaint records.

🇦🇷 Argentina 1 complaint

Market presence: WikiFX SkyEye · complaints: our records · licensing: official registers. Where you’re accepted is set by the broker’s own terms — always confirm before depositing.

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About Phase Forex

Company Overview

Phase Forex is a brokerage entity that claims to be registered in Cyprus, with a registered address at B1 359 28th October Street, WTC Cyprus - Trust Re Building, Limassol 3107. The company states it was founded on 9 August 2021. Its official website is phaseforex71.com. The broker maintains a presence on several social media platforms, including Facebook, Instagram, LinkedIn, Twitter/X, and YouTube.

According to the information on file, Phase Forex references a Vanuatu Financial Services Commission (VFSC) licence number (40387) in its address, but this appears to be a registration number rather than an active regulatory licence. The broker's own claims about its regulatory status have not been independently verified.

Regulatory Status

FXCanary’s records indicate that Phase Forex is not currently subject to any effective regulation from a recognised financial authority. The broker is registered in Cyprus, but this registration does not imply oversight by the Cyprus Securities and Exchange Commission (CySEC) or any other credible regulator. The mention of a VFSC reference number in its address is not equivalent to holding a valid licence from the Vanuatu Financial Services Commission.

Traders are advised to exercise extreme caution when dealing with unregulated brokers. The absence of regulatory oversight means there are no safeguard mechanisms such as investor compensation funds or dispute resolution services. Our analysis confirms that this broker is not suitable for trading.

Risk Assessment

Phase Forex carries an FXCanary Scam Risk Score of 85 out of 100, which is classified as ‘Severe’. This score reflects the lack of verifiable regulatory authorisation, limited publicly available information, and the potential for misconduct. The broker’s registration in Cyprus but reliance on a Vanuatu reference without clear licensing is a red flag.

Without a credible regulator, there is no guarantee that client funds are protected or that trading conditions are fair. Any engagement with this broker carries a high risk of financial loss. We strongly recommend that traders avoid depositing funds with Phase Forex until it obtains and maintains a valid licence from a reputable financial authority.

Overview compiled by FXCanary from regulatory records and public data. full Phase Forex review