Fake FXTM Deposit & Withdrawal

When we at FXCanary sit down to write a funding review, we normally have a trail of client experiences, withdrawal reports, and audited financials to lean on. For Fake FXTM, that trail does not exist. The broker has no independent user reviews on record, no verifiable employee footprint, and a regulatory file that, on closer inspection, raises more questions than it answers.

What we do have is a set of official licence entries, a Mauritius registration, and a Scam Risk Score of 85/100 from our own assessment. That score is driven by industry watchdog flags labelling the firm a “Fake Broker” and a clone or impersonator, plus seven user exposure or complaint reports. In this context, the funding section of our review is less about telling you how to deposit and more about telling you what to watch out for before you send a single dollar.

Fake FXTM lists three regulators on file: CySEC in Cyprus, the FCA in the United Kingdom, and the FSCA in South Africa. The licence numbers are recorded in our files as 185/12 (CySEC), 777911 (FCA), and 46614 (FSCA). We cross-checked these against the public registers where possible, but we must stress that the status of each licence is marked as ——, meaning we have no confirmation that any of them are currently active or valid for this entity.

A legitimate broker with three major licences would typically have a clear corporate structure, a physical presence, and a history of regulatory filings. Fake FXTM has none of that. It is registered in Mauritius, an offshore jurisdiction known for light oversight, and it has zero employees on record. In our assessment, the presence of three prestigious licence numbers on a website does not outweigh the absence of any verifiable operational footprint. For a trader, this means the regulatory safety nets you might expect from a CySEC or FCA firm simply cannot be assumed to exist here.

The broker’s own marketing materials, which we treat as claims rather than verified facts, suggest a range of standard deposit options, including bank transfers, credit or debit cards, and various e-wallets. We have no independent confirmation of these methods, nor do we have any verified fee schedule or minimum deposit figures. Our records do not disclose specific numbers, and we will not import figures from web searches that may refer to a different entity.

What we can say is that for any broker, the deposit process is the first point of contact with your money. If the broker is indeed a clone or impersonator, as the risk flags suggest, the deposit may be the last time you see your funds. We advise treating any deposit as a high-risk transaction. Start with the smallest amount you are willing to lose, and never deposit money you cannot afford to write off completely.

The single most telling moment for any broker is the first withdrawal request. For Fake FXTM, we have no independent reviews to tell us how that process works in practice. The risk flags mention withdrawal complaints in approximately 125% of recent reviews, but since there are no independent reviews on file, we treat this as an aggregated industry data point rather than a verified pattern. It is a warning sign, but not a proven fact.

Our advice to any trader considering this broker is to test the withdrawal process early and with a small amount. Deposit a minimal sum, trade a little if you must, and then request a withdrawal before adding more funds. A legitimate broker will process the request smoothly and within a reasonable timeframe. A problematic broker may delay, demand additional documents, or simply ignore the request. Document every step, save all correspondence, and keep screenshots of your account balance and transaction history.

We have no verified information on Fake FXTM’s deposit or withdrawal fees, nor do we have any confirmed processing times. The broker’s website may list such details, but we cannot verify them independently. In the absence of hard data, we caution traders to assume that fees may be higher than industry norms and that processing times may be longer than advertised.

A common tactic among fraudulent brokers is to impose hidden fees or to delay withdrawals under the guise of “compliance checks.” If you do proceed, ask the broker in writing for a full fee schedule and processing timeframes before you deposit. If they cannot provide clear answers, that is a red flag. Keep all such correspondence as part of your records.

The most serious risk flag in our assessment is the identification of Fake FXTM as a clone or impersonator firm. This means the broker may be using the name, branding, or licence numbers of a legitimate entity to appear trustworthy. The official domain, ftjy-hk.com, does not match the typical domain of the legitimate FXTM brand, which is a significant discrepancy.

If you deposit funds with a clone, you are not protected by the regulatory framework of the licences listed on the website. The CySEC, FCA, and FSCA protections apply only to the licensed entity, not to impostors. In practical terms, this means that if the broker disappears with your money, you have little to no recourse. The seven user exposure or complaint reports on file suggest that some traders have already learned this the hard way.

Given the severe risk score and the lack of verifiable information, we strongly advise against funding this broker at all. However, if you choose to proceed, we recommend a strict set of precautions. First, use a payment method that offers some form of chargeback or buyer protection, such as a credit card, rather than a wire transfer or cryptocurrency, which are nearly impossible to reverse.

Second, never share your banking credentials or give remote access to your computer. Third, set a hard limit on how much you are willing to deposit, and stick to it. Finally, keep a detailed record of every transaction, including dates, amounts, and any reference numbers. These records may be your only evidence if you need to file a complaint with a regulator or law enforcement.

In our review, the most striking feature of Fake FXTM is not what we found, but what we did not find. No independent reviews, no verifiable employees, no confirmed licence status, and no clear funding terms. The broker’s own claims are unsubstantiated, and the regulatory flags point to a high probability of fraud.

We cannot tell you the exact deposit methods or fees, because we do not have reliable data. What we can tell you is that this broker carries a Scam Risk Score of 85/100, which is severe. In our assessment, the prudent course is to avoid depositing any funds. If you are looking for a forex broker, there are many regulated, well-reviewed options that do not carry these red flags. Your capital is too hard-earned to risk on an entity that cannot prove its own legitimacy.