Leave Phex running for a while & see whether more connections appear - sometimes it can take a while before you have a good connection (though out of all of the p2p apps that I use, Phex is usually the quickest to connect).
Don't have other p2p apps running at the same time... just have Phex running by itself.

If you're new to Phex, maybe have a look at these (click on links):
Phex Optimization Tips

New to Phex? (A little Welcome-Guide)

How many conections you see depends on whether you're connecting as a leaf (L in the little red dot beside 'Connections' in the bottom left corner of your Phex screen) or ultrapeer (in that case, a U in the little red dot).
Maybe around 5 connections as a leaf & if you're an ultrapeer then you'll see heaps of connections.

Please post back if you're still having probs with getting a good connection