The Red Phantom originates from the Orinoco River basin in South America. It was formerly known by the scientific name Megalamphodus sweglesi. The Red Phantom is very similar to the Black Phantom, even though it does not come from the same area. The Red Phantom has a transparent red body but the color will vary in intensity depending on diet and breeding activity. The dorsal fin is black for both sexes with white tipping for females. The dorsal fin is not as pronounced as it is on the Black Phantom. There is a dark shoulder mark on both species. The Red Phantom prefers lots of plants, driftwood and rocks. It is a timid, slow moving tetra and will school for security. Groups of 6 or more are recommended. Fast swimming tank mates are not a good combination with Red Phantoms. Similar to the Black Phantom, they will twist and turn around each other in intricate displays. They will eat food flakes, spirulina, freeze-dried bloodworms and live foods, such as brine shrimp and bloodworms. A healthy diet is essential in bringing out full coloring.

Red Phantoms are very difficult to breed. They spawn in thick bundles of plants and require very soft, acidic water. Up to 400 eggs can be laid and they hatch in about a day. The eggs are susceptible to fungus.

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