Terms of Use

Access responsability
The various pages and simulations that you consult on this website or obtain via interactive applications are purely informative. The website is updated regularly as long as possible. PHOENICI does however, no guarantee as to the timeliness, precision, accuracy, completeness or timeliness of information, data or publications. Unless otherwise explicit information provided does not constitute not an offer of services or products. For accurate, professional advice or an offer, you must contact PHOENICI. Information services and products supplied by PHOENICI via this website is governed by rules of Luxembourg law which they are subject. If you get access to this website and / or usage from another area right, you should check beforehand that the right of that country allows it. Otherwise, you must you refrain from any (further) access and / or use our website.

  • RCS : B 199.181
  • Ets : 10075417 / 0
  • VAT : LU29001149

Links to other websites
If we offer you links to other websites, these links are provided for informational purposes only. We advise you when entering these sites, read their privacy policy and/or legal disclaimer. PHOENICI will not be held responsible for the website content or the practices of the owner or operator of such websites.

Terms of Business

Fees, Expenses & Honoraries
Depending on the complexity of the case and the work to be performed, several methods to fix the fees may be proposed (fixed and / or variable). During the first appointment and / or conference call, the client exposes his situation, case, matter and our advisor(s) evaluates different potential solutions. In a later stage PHOENICI establishes an action plan and its cost. PHOENICI reserves its right to invoice or not the interview(s) necessary to establish the aforementioned potential solutions and action plan.

Except specified by written in an agreement, clients will be charged a base fee for services at an hourly fee rate. The hourly rates will be charged for all time spent on client case, including, but not limited to, meetings (with clients, other professionals and other members of PHOENICI relating to client business), telephone calls, letters, research, documents or materials prepared or reviewed, travel and any other activities related to the case. The hourly rates quoted below are subject to increase from time to time and such increase will be reflected in the bills sent to the clients. If a client does not wish to be charged at the new hourly rates, the client shall notify PHOENICI in writing of the termination of this client relationship and agrees to pay the PHOENICI for services rendered up to the date the written notice is received. If PHOENICI continues to represent a client past the date of the increase, the new hourly rates will be in effect and the client shall pay said rates for all services rendered thereafter.

The actual charges based on stated billing rates constitute a factor, but not the sole factor, in determining that a fair and appropriate bill is rendered. In addition to the time spent on a project, it is understood that PHOENICI reserves the right to consider additional factors in billing for services rendered, including: (1) intensity of labor required; (2) novelty, complexity, and difficulty of the questions involved; (3) special experience and skill necessary to perform the task; (4) responsibility assumed; (5) results obtained; (6) productivity improvements instituted by the firm; and (7) extraordinary time limitations imposed by the circumstances of a client and the matter involved. The actual fee charged for services will be determined based on the hourly rate charges at an hourly equivalence, which can be a higher or lower number of billable hours than those actually expended by timekeeper on a particular matter, and any additional charges determined to be warranted by PHOENICI based on the factors stated above. Generally any upward hour adjustment would be used to compensate the Firm for start-up time or time expended for productivity improvements undertaken by the firm to become more expert or efficient in a particular area or on a particular matter. PHOENICI reserves the right to adjust its billing prospectively or retroactively with the addition to the bill of write up billable hours exceeding actual hours expended, or the write down of hours to a lesser amount of billable hours, to take into account factors other than basic billing rates and actual time. If the client disputes any bill and the dispute cannot be resolved by PHOENICI and the client, then, any dispute or litigation in connection the issue of the billing amount and expenses shall be brought exclusively before the competent court dealing with commercial matters of the city of Luxembourg and governed by the laws of the Grand Duchy of Luxembourg.

Hourly rate (excluding taxes)
Partner / Director :450 euros
Manager: 350 euros
Senior: 250 euros
Junior: 150 euros

Reimbursement of Expenses
The client shall reimburse PHOENICI for all expenses and charges incurred by the firm in rendering professional services to or on behalf of the client, including, but not limited to, all costs for copies, long distance telephone calls, postage, express mail charges, courier expenses, electronic research, facsimile charges, travel charges, investigation costs, court fees, depositions, witness fees, photographs, exhibits, and any other expenses necessary to treat the case or matter.

Cancellation Policy
Cancellation of an appointment must be made 24 hours prior to that appointment. Since alternative bookings are unlikely at such short notice, our policy is to charge one hour (200€) for appointment no shows or cancellations less than 24 hours of the scheduled appointment. In addition if the appointement was planned abroad the travel expenses will be at the sole charge of the client.

Privacy Policy

Responsability for content

PHOENICI makes no guarantees about the security of the website, nor for any virus or computer scams. The visitor will be aware that Internet use entails certain risks. PHOENICI takes great care in creating and updating this site. However, it is not excluded that some information may not conform to reality. We ask for your understanding in this regard. The user acknowledges that information, particularly on products and services offered for sale is subject to change without notice. PHOENICI is not responsible for the content of the website and its use. In case links are created with other sites, PHOENICI can not be held responsible for the content and the existence of these other sites.

Intellectual property

All trademarks, copyrights, patents, intellectual property and other properties that are applicable to this website, belongs to PHOENICI. Any copy, adaptation, translation, arrangement, communication to the public, rental or other use, modification of all or part of this website in any form or by any means, electronic, mechanical or otherwise, is strictly prohibited unless prior written consent of PHOENICI or its owner(s) / shareholder(s). Any infringement of these rights may result in civil or criminal prosecution. The names, logos and other symbols used on this website, including the logo and the name and PHOENICI, are trademarks and / or trade names protected by law. Any use of these or similar signs is strictly prohibited without the prior written consent of PHOENICI or its owner(s) / shareholder(s).

Objectives of the processing of personal data

PHOENICI is concerned about respecting your privacy when you visit their website and realize the importance you attach to it. We therefore endeavor to respect your privacy in connection with your use of this site. PHOENICI only collects personal data (surname, name, address and e-mail address) you transmit to us personally. They are used to provide the service or information requested. Where appropriate, we will send you, with your permission, commercial messages relating to promotions and new products. You'll still be able to let us know that you do not wish to receive such commercial messages.

Your rights regarding personal data we collect

Your data will not be sold or transmitted to third parties from PHOENICI. PHOENICI reserves the right to use your personal data or to make them public if the law requires, if the preservation of the integrity of the website requires it to comply with your request, or to cooperate in legal proceedings or a matter of public policy. Your personal data should be changed, please send us your change request via our site. Depending on the content of your request, we will adapt the data as quickly as possible according to the information you provide us. You can also, for legitimate reasons, oppose the processing of data about you. You have a right to access and rectify information concerning you, that you can exercise by contacting PHOENICI by e-mail at legal@phoenici.com.


We believe it is vitally important that you read and fully understand the following risks of trading and investing:

All securities trading, whether in stocks, options, or other investment vehicles, is speculative in nature and involves substantial risk of loss. We encourage our subscribers to invest carefully and to utilize the information available at the websites of the Securities and Exchange Commission at http://www.sec.gov. We also encourage you to get personal advice from your professional investment advisor and to make independent investigations before acting on information that we publish. Most of our information is derived directly from information published by companies or submitted to governmental agencies on which we analyze and/or rate from other sources we believe are reliable, without our independent verification. Therefore, we cannot assure you that the information is accurate or complete. We do not in any way warrant or guarantee the success of any action you take in reliance on our statements, ratings, or recommendations.

1. You may lose money trading and investing. Trading and investing in securities is always risky. For that reason, you should trade or invest only "risk capital" — money you can afford to lose. While this is an individual matter, we recommend that you risk no more than 10% of your liquid net worth — and, in some cases, you should risk less than that. For example, if 10% of your liquid net worth represents your entire savings, you should not use that amount to buy and sell securities. Trading stock and stock options involves HIGH RISK and YOU can LOSE a lot of money.

2. Past performance is not necessarily indicative of future results. All investments carry risk and all trading decisions of an individual remain the responsibility of that individual. There is no guarantee that systems, indicators, or trading signals will result in profits or that they will not result in losses. All investors are advised to fully understand all risks associated with any kind of trading or investing they choose to do.

3. Hypothetical or simulated performance is not indicative of future results. Unless specifically noted otherwise, all profit examples provided in the our websites and publications are based on hypothetical or simulated trading, which means they are done on paper or electronically based on real market prices at the time the recommendation is disseminated to the subscribers of this service, but without actual money being invested. Also, such examples do not include the costs of subscriptions, commissions, and other fees, or examples of other recommendations as to which there were losses utilizing the timing at the time of the recommendations. Because the trades underlying these examples have not actually been executed, the results may understate or overstate the impact of certain market factors, such as lack of liquidity. Simulated trading programs in general are also designed with the benefit of hindsight, which may not be relevant to actual trading. We make no representations or warranties that any account will or is likely to achieve profits similar to those shown, because hypothetical or simulated performance is not necessarily indicative of future results.

4. Don't enter any trade without fully understanding the worst-case scenarios of that trade. Trading securities like stock options can be extremely complicated, so make sure you understand these trades before entering into them. For example, aggressive positions in options have a greater probability of losing, while less aggressive positions are less likely to yield substantial profits. Similarly, far out-of-the-money options are unlikely to finish in the money, and options purchased close to their expiration dates are very high-risk and, thus, likely to win big or lose big very quickly. Don't enter any trade without fully understanding the worst-case scenarios of that trade.

5. We are a financial publisher and do not provide personalized trading or investment advice. We publish information regarding companies and / or Funds in which we believe our visitor may be interested and our reports reflect our sincere opinions. However, the information in our publications is not intended to be personalized recommendations to buy, hold, or sell securities. If a visitor chooses to engage in trading or investing that he or she does not fully understand, we may advise the visitor on what to do to salvage a position gone wrong, but with no obligation of result. We also may not address winning positions or personal trading or investing ideas with visitors. Therefore, visitors will need to depend on their own mastery of the details of trading and investing in order to handle problematic situations that may arise, including the consultation of their own brokers and advisors as they deem appropriate.

6. Profits can be lost if they are not taken at the right time. Visitors are advised to take profits at whatever point they deem optimal, regardless of the profit target set in any given recommendation. Publications such as those we offer provide recommendations. Visitors are free to follow the recommendation, follow it in part, or ignore it altogether. If a visitor believes a given profit is at risk, the subscriber should take the profit. Similarly, if a visitor feels a position is likely to lose value, or a losing position is likely to fall further, the visitor can choose to exit at any time to preserve capital. The final decision as to when to take profits remains in the sole discretion of the visitor, keeping in mind that profits can be lost if they are not taken at the right time.


Once again, we stress the importance of understanding all of the risks of any form of trading or investing that you choose to do. One should fully understand the worst-case scenario prior to trading or investing real money. Past performance is not necessarily indicative of future results. You take full responsibility for all trading actions, and should make every effort to understand the risks involved.