About FXTM
Overview
FXTM, legally registered as ForexTime Limited, is a Cyprus-registered entity established on 14 April 2023. The company's official domain is fxtm-ins.com. According to our records, the firm holds three regulatory licences: one from the Cyprus Securities and Exchange Commission (CYSEC), one from the UK Financial Conduct Authority (FCA), and one from the South African Financial Sector Conduct Authority (FSCA).
However, our records also indicate that FXTM is flagged as a 'Fake Broker' in industry watchdog records and has been identified as a clone or impersonator firm. The company has no verifiable website or social-media presence, and no employees are listed. This raises significant concerns about the legitimacy of the entity operating under this name.
Regulation and Licensing
Our records list three licences for ForexTime Limited. The CYSEC licence is for Market Making (MM) under licence number 185/12, issued in Cyprus. The FCA licence is for Forex Execution License (STP) under licence number 777911, in the United Kingdom. The FSCA licence is for Derivatives Trading License (EP) under licence number 46614, in South Africa.
It is important to note that these licence numbers are taken directly from our records. However, given the risk flags associated with this entity, traders should independently verify these licences with the respective regulators before engaging with the firm. The status of each licence is not specified in our records, which adds to the uncertainty.
Risk Assessment
FXCanary's Scam Risk Score for FXTM is 85 out of 100, indicating a severe risk. The entity is listed as a 'Fake Broker' in industry watchdog records and has been identified as a clone or impersonator firm. These flags suggest that the entity may be misrepresenting itself or operating without proper authorisation.
Additionally, the lack of a verifiable website or social-media presence is a major red flag. Legitimate brokers typically maintain a transparent online presence. The absence of such presence, combined with the clone/impersonator flag, strongly suggests that traders should exercise extreme caution and avoid depositing funds with this entity.
Trading Offering
Due to the low web confidence and the lack of verifiable information, we cannot confirm the specific trading products, platforms, or account types that FXTM offers. The official domain fxtm-ins.com is not accessible or verifiable, and no credible third-party sources describe the firm's offerings.
In the absence of reliable information, we cannot provide a detailed overview of the trading environment. Traders should be aware that engaging with an entity that has no verifiable online presence is inherently risky, and the lack of transparency is a significant concern.
Conclusion
In summary, FXTM (ForexTime Limited) presents a high-risk profile based on our records. The combination of being flagged as a fake broker, identified as a clone/impersonator, and having no verifiable website or social-media presence makes it an unsuitable choice for traders.
We strongly advise traders to avoid this entity and to only deal with brokers that are properly regulated and have a transparent online presence. If you have any doubts about a broker's legitimacy, always verify its registration with the relevant regulatory authorities before investing.
Overview compiled by FXCanary from regulatory records and public data. full FXTM review