FXTM Deposit & Withdrawal

When we set out to review the deposit and withdrawal experience at FXTM — the trading name used by ForexTime Limited, operating from futuo-go.co — we expected a fairly standard picture. After all, the company is registered in the United Kingdom and holds three licences on file: a CYSEC Market Making licence (no 185/12), an FCA Forex Execution licence (no 777911), and an FSCA Derivatives Trading licence (no 46614). That is a regulatory stack most brokers would envy.

But here is the problem: our records show that FXTM is flagged as a “Fake Broker” in industry watchdog records, identified as a clone or impersonator firm, and has no verifiable website or social-media presence beyond the domain we were given. The licences on file may belong to a legitimate entity, but the broker operating under this name and domain does not appear to be that entity. In FXCanary's assessment, this disconnect is the single most important fact for anyone thinking about sending money to this broker.

Let us be clear about what the licence numbers do and do not tell us. The CYSEC licence 185/12, the FCA licence 777911, and the FSCA licence 46614 are all listed in our records, and we have no reason to doubt that those numbers exist on the public registers. However, the broker at futuo-go.co is not necessarily the same legal entity that holds those licences. The fact that the company is flagged as a clone or impersonator means that the real ForexTime Limited — the one with the FCA licence — may have no connection to this website.

For a trader, this has a direct consequence for funding: if you deposit money with a clone, your funds are not protected by the FSCS or any other compensation scheme, because the clone is not the regulated entity. The FCA licence number on the website may be a copy-paste from the real firm, but the protection does not travel with the name. We cross-checked the licence numbers against the public register as far as our records allow, and we found no evidence that futuo-go.co is an authorised address for the licensed firm.

Our records do not contain a single verified deposit method for FXTM. The broker's own marketing materials — which we treat as claims, not facts — may list the usual suspects: bank wire, credit/debit cards, and e-wallets like Skrill or Neteller. But we have no independent confirmation that any of these methods actually work, what the minimum deposit is, or what fees are charged. In the absence of verifiable data, we cannot recommend any specific deposit method.

What we can say is that for any broker with a severe scam risk score — and FXTM's score of 85/100 is severe — the safest approach is to start with the smallest possible deposit. If the broker requires a minimum of $250 or $500, that is a red flag in itself, because legitimate brokers typically allow you to test the platform with a much smaller amount. We also advise using a funding method that offers some form of chargeback protection, such as a credit card, rather than a wire transfer that is irreversible.

The most important test for any broker is whether you can get your money back. For FXTM, we have no independent record of any successful withdrawal, and equally no record of a failed one. That is not a neutral outcome — it is an absence of evidence that should be treated as a warning. In our experience, brokers that are clones or impersonators often make it difficult to withdraw, either by imposing hidden fees, demanding additional verification documents, or simply ignoring requests.

Because we have no verified withdrawal methods, we cannot tell you whether FXTM offers bank wire, card withdrawal, or e-wallet payouts. We also cannot confirm processing times or any withdrawal limits. The only honest statement we can make is that the withdrawal process is entirely unverified, and that is a serious problem. A legitimate broker with three licences should have a clear, documented withdrawal policy; the fact that we cannot find one is telling.

In our review, we found no disclosed fee schedule for deposits or withdrawals. We do not know if FXTM charges a deposit fee, a withdrawal fee, or an inactivity fee. We do not know if there is a currency conversion markup. We do not know the minimum withdrawal amount. All of these are standard disclosures for any regulated broker, and their absence is a red flag.

Similarly, we have no information on processing times. A legitimate broker will typically process withdrawals within 1-5 business days, depending on the method. For FXTM, we cannot confirm any timeframe. In the absence of data, we advise traders to assume the worst: if you deposit, you may not be able to withdraw at all, or the process may take weeks. That is not a scare tactic; it is the logical conclusion from the broker's severe risk flags.

The single most important funding consideration for FXTM is the clone risk. When a broker is flagged as a clone or impersonator, it means that the website you are using is not the real, regulated entity. The real ForexTime Limited may be a perfectly legitimate broker, but the people behind futuo-go.co are not them. They are using the name and licence numbers to create a false sense of security.

For your funds, this means that any deposit you make is not covered by the FSCS, the CySEC Investor Compensation Fund, or any other protection scheme. If the broker disappears — and clones often do — you have no recourse. The FCA has repeatedly warned about clone firms that use the details of authorised firms to trick consumers. In FXCanary's assessment, the risk of losing your entire deposit is high, and we cannot recommend funding this broker with any amount you are not prepared to lose.

If you are still considering depositing with FXTM despite the warnings, we strongly urge you to follow a cautious approach. First, deposit only a small amount — the minimum required, if possible — and treat it as a test. Second, attempt a withdrawal immediately after the deposit is credited, before you place any trades. This is the single most effective way to gauge whether the broker is legitimate. If the withdrawal is denied, delayed, or subject to unexpected fees, you have your answer.

Third, keep meticulous records of every transaction: deposit confirmations, withdrawal requests, and any communication with the broker. Screenshot everything. If the broker is a clone, these records may be useful if you decide to report the firm to the FCA or your local regulator.

Fourth, use a funding method that offers some protection, such as a credit card, and avoid wire transfers. Finally, never deposit more than you can afford to lose. In the case of a broker with a scam risk score of 85/100, that amount should be very small indeed.

In FXCanary's assessment, the funding situation at FXTM is a black box. We have no verified deposit or withdrawal methods, no fee schedule, no processing times, and no independent record of any successful transaction. The broker's regulatory licences are on file, but the broker itself is flagged as a clone, which means those licences may be fraudulent. The absence of any user reviews or verifiable online presence makes it impossible to recommend this broker for any funding purpose.

Our advice is simple: do not deposit. If you must, treat it as a high-risk experiment with a tiny amount, and test the withdrawal process immediately. The burden of proof is on the broker to demonstrate that it is the real ForexTime Limited, and so far, it has failed to do so. For a cautious trader, the only safe funding decision is to walk away.