Fenix Securities – The supposed investment service provider Fenix Securities presents itself on its website as a broker-dealer. Accordingly, Fenix Securities offers trading in various assets and online trading.
Especially for currently active customers of Fenix Securities or for those who are thinking about investing in the near future, the following questions are certainly central:
- Is there advice for clients of the financial provider who have suffered losses?
- What evidence is there to classify whether the provider is a trustworthy financial service provider?
- Does the service provider have a licence from a European state supervisory authority?
- Are there any empirical values from other investors on this topic from which conclusions can be drawn?
The lawyers of the Herfurtner law firm, who are among others active in the legal field of banking and capital market law, have devoted themselves to these questions and prepared the answers in this article.
Table of contents
- Fenix Securities experiences
- Website
- Contact information
- Authorisation
- Warning
- Digression – general advice
- Lawyers advise on Fenix Securities
If you want to check whether Fenix Securities is a serious offer, we are at your disposal and will advise you on your questions and furthermore in case of problems. Please send us a message via our enquiry form. Our lawyers are at your disposal for a free initial consultation.
Fenix Securities Experience
Fenix Securities’ corporate website states that it is a broker-dealer registered with the United States Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). Fenix Securities is also a member of a Securities Investor Protection Corporation (SIPC).
In addition, Fenix Securities offers its clients comprehensive end-to-end trading solutions across major asset classes and global markets, including direct access to all US equity and options markets.
In addition, Fenix Securities benefits from innovative and cost-effective cross-border execution, clearing and custody solutions tailored to each client’s individual needs. In doing so, Fenix Securities says it serves an extensive and diversified client base through a conflict-free, brokerage-only model.
In addition, Fenix Securities maintains strategic alliances with top-tier investment houses, exchange members, custodians and leading software providers, and offers multilingual support with extended hours.
Moreover, those who want to start trading online with Fenix Securities can choose the right trading account from various account types:
- Student account: Minimum deposit US$250
- Standard account: Minimum deposit US$5,000
- Islamic account: Minimum deposit 10,000 US dollars
- Investor account: Minimum deposit 10,000 US dollars
- VIP account: Minimum deposit 50,000 US dollars
- VIP Platinum Account: Minimum deposit 100,000 US dollars
Fenix Securities on the web
The self-portrayal of Fenix Securities can be reached via the German Internet presence under the URL fenixsecurities.site/de.
Domain
Each HTTP server is identified by a special numeric code. This so-called IP address enables an Internet browser to address precise hosts in order to retrieve content. We retrieved the details of the company Fenix Securities on 27 October 2021 with this result: Domain Name: FENIXSECURITIES.SITE
Registry domain ID: D254592514-CNIC Registrar WHOIS Server: whois.reg.ru Registrar URL: https://www.reg.ru/ Updated Date: 2021-10-19T13:17:45.0Z Creation Date: 2021-10-14T12:28:34.0Z Registry Expiry Date: 2022-10-14T23:59:59.0Z Registrar: Registrar of Domain Names REG.RU, LLC
Is there an imprint?
In Germany, according to §5 of the German Telemedia Act (TMG), there is a basic obligation to provide imprint information. This “labelling” obligation applies to all commercially operated websites. This is because the information is intended to inform the visitor to a website about who is behind the website.
Finally, the addressable postal address of the website owner plays a role in this context, in case legal claims are to be enforced against him. Another decisive factor is the fact that the obligation to maintain an imprint also applies to providers located abroad who conduct their business activities in Germany.
However, no legally binding imprint could be found on the website of Fenix Securities in October 2021.
Management
The naming of the responsible persons is a characteristic of transparency. However, at the time of writing, the Fenix Securities website did not contain any information on the persons responsible.
Contact details
Details of how to contact and reach Fenix Securities:
- Provider name: LoyalTech LTD
- Phone: n. A.
- Mail address: support[a]fenixsecurities.online
- Alleged addresses:
- 16 Tsar Ivan Shishman Str., 2140 Botevgrad town, Botevgrad Municipality, Sofia Region, Bulgaria
- 14 Wall Street, 20th floor, New York, NY 10005, USA
In the event that difficulties arise, a large distance between the provider and the investor may make it difficult to clarify them. As a rule, investors within the European Union have somewhat more security and more chances to enforce their claims – also and especially in the case of losses – if necessary with the involvement of legal assistance.
What data is available on the inspection of the company by a European financial supervisory authority?
Information on an authorisation and supervision by a European state supervisory authority such as the Comisión Nacional de Mercado de Valores (CNMV, Spain), the Financial Conduct Authority (FCA, United Kingdom) or the Commissione Nazionale per le Società e la Borsa (CONSOB, Italy) is not available on the internet presence of the service provider in October 2021.
Therefore, it is not mandatory to assume that the financial services provider has the licences required to operate in Europe.
Public warnings on Fenix Securities
Lawyers advise increased vigilance, as authorities and law firms regularly publish warnings in connection with financial service providers and online brokers. It cannot always be assumed that investment fraud is involved in this context.
As of October 2021, we have not received any current warnings from European financial supervisory authorities on the subject of Fenix Securities.
Excursus: Futile profit claim: First deposit, then pay out?
The moment the trader stakes real money, disaster takes its course with a fraudulent provider. Because sooner or later you want to dispose of your profit and request a payout. But instead of the quick transfer promised at the beginning, difficulties arise. Customers are asked to make an additional deposit before the payout can take place.
In many cases, the pretext is that the due taxes have to be paid first. However, it is not an option to deduct the amount from the alleged credit balance, rather a separate transfer has to be made. In other cases, the provider excuses itself by saying that withdrawals are only possible if the credit balance is insanely high.
This restriction of availability alone shows that we are dealing with a financial provider who is not serious. In addition, there are other explanations for the refusal of withdrawals, such as diffuse technical problems that cannot be resolved at any time.
The idea behind this is clear: the fraudulent financial provider puts forward various reasons and the private investor will not get his money back. Rather, on this occasion, another attempt is made to cash in for the very last time via dubious payments.
Lawyers advise on Fenix Securities
Have you lost money investing? Then you should act immediately. First of all, you should refrain from making any further deposits or additional payments. It is also advisable to ask the financial provider about the reasons for the losses and to find out what prospects there are of recovering the lost investment.
Our legal advisors will be happy to advise you in connection with Fenix Securities.