High Risk
Reported as a scam / unregulated
SF-704676registry entry
Why Phemex is on the register
Phemex claims to be registered in Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). We searched the FINTRAC and found a matching result. But FINTRAC doesn’t regulate forex and it is not a regulatory institution, so having registration does not mean being authorized to provide financial services. The truth is that Phemex is not under valid regulation by any regulators to do forex. Investors’ funds in this broker are unsafe and cannot be protected by any law. Therefore, it is a scam.
If you have money with this broker
- Stop sending funds. Do not pay any further “fees”, “taxes” or “verification” charges to release a withdrawal — this is a common secondary scam.
- Preserve evidence. Save transaction IDs, wallet addresses, chat logs, and every screenshot before the account is closed.
- Report it. Notify your bank/exchange and your national financial regulator so the activity is on record.
- Get guidance. Tell us what happened and we will point you toward the right next step. We are a free public registry — we never charge any fees.
SentFunds is an information and referral service. Listing reflects reported concerns and public findings; it is not a legal determination.