Fake FXTM Account Types & How to Open

When we set out to review the account offering at Fake FXTM, we expected to find a standard menu of retail trading accounts. Instead, our research uncovered a broker whose public profile is thin, contradictory, and — in our assessment — deliberately opaque. The entity operates from the domain ftjy-hk.com, is registered in Mauritius, and claims to hold three licences: one from CySEC (Cyprus, licence no 185/12), one from the FCA (United Kingdom, licence no 777911), and one from the FSCA (South Africa, licence no 46614).

But here is the critical problem: our records show that Fake FXTM is listed in industry watchdog databases as a 'Fake Broker' and as a clone or impersonator firm. That means the licences it displays may not belong to it at all — they may be copied from a legitimate, regulated entity with a similar name. In FXCanary's assessment, any account opened with this broker carries a severe risk, and we would advise extreme caution before depositing a single cent.

Fake FXTM does not publish a clear, detailed list of account types on its website. Our review found no official documentation specifying whether it offers standard, premium, or Islamic accounts, nor any clear breakdown of minimum deposits, spreads, or commissions. This absence of transparency is itself a red flag: legitimate brokers typically provide full account specifications to help traders make informed decisions.

Given the lack of official information, we cannot confirm the existence of any specific account tier. We can only note that the broker's marketing materials — where they exist — appear to reference a generic range of retail trading accounts, but without verifiable details. In our experience, such vagueness is common among clone brokers, who often copy the look and feel of a legitimate brand but fail to replicate the substance.

Our records do not contain any verified figures for minimum deposits or leverage at Fake FXTM. The broker's website, as far as we could determine, does not disclose these numbers either. This is deeply concerning because leverage is one of the most important risk factors in forex trading, and a broker that hides its leverage terms is not acting in the client's best interest.

If the broker were truly licensed by CySEC or the FCA, it would be subject to strict leverage caps — typically 30:1 for major forex pairs under ESMA rules. However, because Fake FXTM is registered in Mauritius and is flagged as a clone, it may operate outside those limits, potentially offering leverage of 100:1, 500:1, or even higher. Such leverage can amplify losses dramatically, and in the hands of an unregulated or fake broker, it becomes a tool for wiping out client accounts. We cannot confirm the actual leverage on offer, but the risk is severe.

We found no reliable information about spreads or commissions at Fake FXTM. The broker does not appear to publish a fee schedule, and our attempts to verify costs through official channels were unsuccessful. This is another major red flag: a legitimate broker will always disclose its spreads and commissions, as these directly affect a trader's profitability.

Without this data, we cannot say whether Fake FXTM offers competitive pricing or charges hidden fees. In our assessment, the lack of transparency suggests that the broker may not want clients to scrutinise its cost structure — a common trait among fraudulent operations. We strongly advise traders to demand full disclosure of all fees before opening an account, and to walk away if the broker cannot provide it.

Fake FXTM does not clearly state which trading platforms it supports. We found no mention of MetaTrader 4, MetaTrader 5, cTrader, or any proprietary platform on its website. This is highly unusual for a forex broker, as the trading platform is the primary interface for clients to execute trades and manage their accounts.

If the broker does offer a platform, it may be a white-label solution that is poorly maintained or even a fake interface designed to show fictional profits. In the absence of verifiable information, we cannot recommend any platform associated with this broker. Traders should be extremely wary of downloading any software from an unverified domain, as it could contain malware or be used to steal login credentials.

We found no evidence that Fake FXTM offers a demo account. Many fraudulent brokers do offer demo accounts, but they often use them to lure traders into depositing real money with promises of easy profits. The absence of a demo account here is notable, but it does not make the broker safer — it may simply mean that the operator is not even bothering to create a convincing facade.

In our view, the lack of a demo account is another sign that Fake FXTM is not a serious trading operation. A legitimate broker will always provide a risk-free way for traders to test its platform and conditions. Without this, there is no way to evaluate the broker's execution quality or reliability before committing funds.

The account opening process at Fake FXTM is not documented in our records. We do not know whether the broker requires standard KYC documents such as a passport, proof of address, or bank statement. However, given that the broker is flagged as a clone, we suspect that its KYC procedures — if they exist at all — are either lax or designed to collect personal information for fraudulent purposes.

We strongly advise against submitting any personal documents to this broker. Identity theft is a real risk when dealing with unregulated entities, and your data could be misused. If you have already opened an account, we recommend that you do not deposit funds and consider closing the account immediately. Remember, a legitimate broker will always verify your identity, but it will do so through secure, regulated channels — not through an unverified offshore website.

Fake FXTM claims to hold three licences: CySEC licence no 185/12, FCA licence no 777911, and FSCA licence no 46614. We cross-checked these against our records, and while the numbers are listed, the status of each licence is marked as '—', meaning we cannot confirm that they are active or that they belong to this entity. In fact, our records explicitly flag Fake FXTM as a 'Fake Broker' and a clone/impersonator firm.

This is a classic pattern: a fraudulent broker borrows the registration details of a legitimate company to appear credible. The real CySEC, FCA, and FSCA licences likely belong to a different, legitimate broker with a similar name — not to this Mauritius-registered entity. We urge traders to verify any licence directly with the relevant regulator before trusting it. In this case, we have serious doubts that any of the licences are valid for Fake FXTM.

In FXCanary's assessment, Fake FXTM fails nearly every test of a trustworthy broker. It is registered in an offshore jurisdiction with light oversight, it is flagged as a fake broker and clone, and it has accumulated 7 user exposure/complaint reports. Withdrawal complaints appear in approximately 125% of recent reviews — a statistical impossibility that suggests either duplicate reports or a pattern of clients being unable to access their funds.

We cannot recommend opening an account with Fake FXTM under any circumstances. The lack of transparency about accounts, costs, and platforms, combined with the severe regulatory red flags, makes this one of the highest-risk brokers we have reviewed. If you are considering trading with this entity, we strongly advise you to look elsewhere — and to report any suspicious activity to your local financial regulator.