Fake FXTM

Fake FXTM operates under the official domain fxtmartket.com and is registered in Mauritius. The company was established on February 2, 2021, and is based at Exinity Limited, 5th Floor, 355 NEX Tower, Rue du Savoir, Cybercity, Ebene 72201, Mauritius.

The broker presents itself as a Mauritius-based forex broker that is regulated by the Cyprus Securities and Exchange Commission (CySEC), the Financial Conduct Authority (FCA) in the United Kingdom, and the Financial Sector Conduct Authority (FSCA) in South Africa. However, the status of these licenses is listed as "—" in available records, indicating no confirmed active regulatory oversight.

Fake FXTM offers seven distinct account types catering to different trader segments. The FXTM Pro Account requires a minimum deposit of $25,000 or equivalent in major currencies, or ₦5,000,000, and provides floating leverage from 1:200 to 1:25. The ECN Zero and ECN Accounts have lower entry points at $200 and $500 respectively, with maximum floating leverage up to 1:2000.

The Stock Account offers a 1:1 leverage with a $100 minimum deposit, while the Stock CFDs Account provides fixed leverage of 1:10 for US shares and 1:3 for European shares, also starting at $100. The Cent Account is designed for beginners with a $10 minimum deposit and fixed leverage ranging from 1:1000 to 1:25 for forex and 1:500 to 1:25 for spot metals. Standard accounts round out the offering with a $100 minimum deposit and floating leverage up to 1:2000.

The broker lists a range of instruments including US Cent, EU Cent, GBP Pence, and NGN Kobo, suggesting a focus on micro-lot and penny trading for smaller accounts. The company description mentions supreme trading platforms, but specific platform names are not detailed in available records.

Given the multiple account types and high leverage options, Fake FXTM appears to target both retail traders with limited capital and high-net-worth individuals seeking professional trading conditions.

FXCanary's scam risk score for Fake FXTM is 85 out of 100, indicating a severe risk level. While the company claims regulation from CySEC, FCA, and FSCA, the absence of verified license statuses raises concerns about the legitimacy of these claims.

Traders should exercise extreme caution when considering this broker, as the lack of transparent regulatory oversight and the high-risk score suggest potential for unregulated operations or even fraudulent activity.