FXTM

FXTM, legally registered as ForexTime Limited, is a forex and CFD broker that claims to have been founded on 6 April 2023 in the United Kingdom. The official domain, futuo-go.co, is the primary point of contact, though our records indicate that the firm has no verifiable website or social-media presence, which is a significant red flag for any broker.

In FXCanary's assessment, the broker presents itself as a multi-regulated entity, with three licences on file from the Cyprus Securities and Exchange Commission (CySEC), the UK Financial Conduct Authority (FCA), and the South African Financial Sector Conduct Authority (FSCA). However, the authenticity of these licences is questionable, as the firm is flagged in industry watchdog records as a 'Fake Broker' and a clone or impersonator firm.

Our records list three licences for ForexTime Limited, though the status of each is marked as '—', meaning we cannot confirm their validity. The CySEC licence (no 185/12) is for Market Making (MM), the FCA licence (no 777911) is for Forex Execution License (STP), and the FSCA licence (no 46614) is for Derivatives Trading License (EP). These numbers are taken verbatim from our records, but we have not been able to verify them against public registers.

Given the risk flags, it is likely that these licences are either fabricated or belong to a different entity. Traders should be extremely cautious and independently verify any regulatory claims before depositing funds.

Based on the regulatory licences, the broker appears to offer retail leveraged forex and CFD trading, which is typical of a market-making or STP broker. However, our records do not specify the exact trading platforms, instruments, or account types available. The absence of a verifiable website means we cannot confirm the broker's product range or trading conditions.

In the absence of concrete information, we advise traders to treat any claims about platforms, spreads, or leverage with suspicion. A legitimate broker would provide transparent details on its official site, which is not the case here.

ForexTime Limited is registered in the United Kingdom, with a founding date of 6 April 2023. The company has zero employees on record, which is unusual for a broker claiming to operate under three regulatory licences. This discrepancy further undermines the credibility of the firm.

The name 'FXTM' is well-known in the forex industry, but this entity is not the same as the established FXTM brand. Our records indicate that this is a clone or impersonator, using a similar name to deceive traders. We strongly advise against any engagement with this entity.

FXCanary's Scam Risk Score for this broker is 85 out of 100, categorised as 'Severe'. The risk flags include being listed as a 'Fake Broker' in industry watchdog records, identified as a clone or impersonator firm, and having no verifiable website or social-media presence. These factors indicate a high likelihood of fraudulent activity.

Traders should avoid this broker entirely. The lack of independent reviews, combined with the regulatory red flags, makes it impossible to recommend any form of engagement. If you have already deposited funds, we urge you to cease trading and seek legal advice.