FXTM Account Types & How to Open

When we at FXCanary set out to review the account offering of ForexTime Limited — trading as FXTM at futuo-go.co — we expected to find the usual menu of standard, cent and ECN accounts that populate the retail forex landscape. Instead, our research surfaced something far more troubling: a broker whose own regulatory file contradicts its public identity, and whose account terms are effectively impossible to verify independently.

Our records show that ForexTime Limited was incorporated in the United Kingdom on 6 April 2023, yet lists zero employees and no verifiable website or social-media presence beyond the domain futuo-go.co. The FXCanary Scam Risk Score stands at 85/100 — 'Severe' — with industry watchdog records flagging the firm as a 'Fake Broker' and a clone or impersonator of a legitimate entity. In this context, the account types described below must be read with extreme caution: they are drawn from the limited public information we could verify, and we were unable to confirm any live trading conditions through independent testing.

ForexTime Limited holds three licences on file, and we cross-checked each against the public registers. The Cyprus Securities and Exchange Commission (CySEC) licence number 185/12 authorises Market Making (MM) activity. The UK Financial Conduct Authority (FCA) licence number 777911 covers a Forex Execution License (STP). The South African Financial Sector Conduct Authority (FSCA) licence number 46614 permits Derivatives Trading (EP).

At face value, this looks like a well-regulated, multi-jurisdictional broker. But here is the critical nuance: the licence numbers we hold are identical to those of the legitimate ForexTime entity — the well-known broker that operates at forextime.com. Our records indicate that FXTM at futuo-go.co is a clone, using the same regulatory references without authorisation. In practice, this means that any account opened through futuo-go.co is not protected by those licences, and the regulatory status of the firm is effectively void. We advise traders to verify any broker's licence directly on the regulator's official website before depositing funds.

From the limited information available, we can infer that FXTM at futuo-go.co likely offers a standard retail account structure, similar to what the legitimate ForexTime brand provides. This would typically include a Standard Account with variable spreads and no commission, and a Cent Account for smaller balances. However, we must stress that we found no official documentation on the futuo-go.co domain detailing these accounts, and our web searches returned no verifiable account specifications.

In FXCanary's assessment, the absence of transparent account terms is itself a red flag. A legitimate broker publishes its spreads, commissions, minimum deposit and leverage prominently. Here, we could not confirm even the most basic details, such as the minimum deposit or whether a demo account is offered. We therefore advise traders to treat any account description found on the site as unverified marketing material, not as a reliable basis for trading decisions.

Our records do not disclose a specific minimum deposit for FXTM at futuo-go.co. In the absence of official figures, we cannot state a number, and we caution against relying on figures found in web searches, as they may refer to the legitimate ForexTime entity rather than this clone.

Leverage is equally opaque. While the legitimate ForexTime brand offers leverage up to 1:1000 in some jurisdictions, we have no evidence that the clone at futuo-go.co offers the same. If leverage is offered at all, it would be subject to the regulatory limits of the licences it claims — for example, CySEC and FCA impose maximum leverage of 1:30 for retail clients under ESMA rules. However, because the licences are not genuinely held by this entity, any leverage advertised should be treated as unverified. High leverage amplifies both gains and losses, and with a broker already flagged as a 'Fake Broker', the risk of losing your entire deposit is severe.

We were unable to find any official disclosure of spreads or commissions for FXTM at futuo-go.co. The legitimate ForexTime brand typically offers variable spreads starting from 1.3 pips on its Standard Account and raw spreads from 0.0 pips on its ECN accounts, with a commission per lot. But we have no evidence that the clone replicates these terms.

In our editorial experience, a broker that does not publish its spreads is either hiding high costs or is not operationally ready. For a clone broker, the more likely scenario is that the site is designed to collect deposits rather than facilitate genuine trading. We strongly advise traders to demand full cost disclosure before opening any account, and to walk away if the broker cannot provide it.

The legitimate ForexTime brand offers MetaTrader 4 and MetaTrader 5, along with its own mobile app. However, we found no evidence that FXTM at futuo-go.co provides any of these platforms. Our web searches returned no download links, no platform specifications, and no indication of a web-based trader.

This is a significant red flag. A broker without a verifiable trading platform cannot execute trades in a transparent manner. It is possible that the clone uses a white-label solution or a proprietary platform, but without independent testing, we cannot confirm its functionality or reliability. In FXCanary's assessment, the absence of a recognised platform is another indication that this entity is not a genuine brokerage operation.

We found no information about demo accounts at FXTM at futuo-go.co. The legitimate ForexTime brand offers a free demo account with virtual funds, but we cannot confirm that the clone does the same. For a trader, a demo account is essential for testing the broker's platform and execution quality before risking real money. Its absence is a warning sign.

Regarding account opening and KYC, the legitimate ForexTime process requires proof of identity and address, and typically takes a few business days. For the clone, we have no verified details. Given that the firm is flagged as a 'Fake Broker', any KYC process may be a façade to collect personal data. We advise traders to never submit sensitive documents to an unverified broker, and to assume that any information provided could be misused.

In FXCanary's assessment, the account offering of FXTM at futuo-go.co is not just opaque — it is fundamentally compromised by the broker's status as a clone. The licences on file belong to a different entity, the website has no verifiable presence, and the risk score of 85/100 reflects a severe threat to retail traders.

We cannot recommend opening an account with this broker under any circumstances. If you are looking for a regulated forex broker, we urge you to verify the licence directly with the CySEC, FCA or FSCA registers, and to confirm that the domain you are using matches the official one. For FXTM at futuo-go.co, the evidence points to a fraudulent operation, and the only safe action is to avoid it entirely.