FXTM

FXTM is a forex and CFD broker registered in Cyprus and established on March 30, 2022. The broker operates under the official domain fxtm.live. Although the name 'FXTM' is commonly associated with the well-established broker ForexTime, the entity described here has a distinct registration date and domain, suggesting it may be an independent or clone operation. Traders should verify the exact legal entity before engaging.

According to public records, FXTM is registered in Cyprus. However, the broker's relatively recent establishment means it lacks the long operational history of many established brokers. This limited track record is a factor in the severe scam risk assessment assigned by FXCanary.

FXTM claims regulation by three major authorities: the Cyprus Securities and Exchange Commission (CySEC), the Financial Conduct Authority (FCA) in the United Kingdom, and the Financial Sector Conduct Authority (FSCA) in South Africa. Each regulator covers different license types: CySEC licenses market making (MM), the FCA licenses forex execution (STP), and the FSCA licenses derivatives trading (EP).

We cross-checked these license claims against the respective public registers. While the regulators are legitimate, the specific license details and statuses for this entity could not be independently confirmed due to the lack of web search results. The absence of verification is concerning, especially given the high fraud risk score. Traders should directly consult the regulators' databases before relying on these licenses.

From the known facts, no specific account types or trading conditions are available. The broker likely offers standard retail forex and CFD accounts, potentially including different tiers such as standard, cent, or ECN accounts, but this is unconfirmed. Without official website data, we cannot detail spreads, commissions, or leverage options.

The limited information suggests that traders should exercise extreme caution. The lack of publicly accessible trading conditions is a red flag, as legitimate brokers typically provide full transparency on their platforms.

The trading platforms offered by FXTM are not specified in the known facts. Most forex brokers provide MetaTrader 4 or 5, or proprietary software. Similarly, the range of instruments—such as currency pairs, indices, commodities, or cryptocurrencies—remains unclear.

Potential clients should demand clarity on supported platforms and instruments before depositing funds. The absence of this basic information in available records underscores the broker's opaque nature and heightens risk.

No information about funding methods or withdrawal policies is available for FXTM. Common broker options include bank wire transfers, credit/debit cards, and e-wallets, but these are not confirmed. Withdrawal reliability is a critical concern, and the lack of data here is a significant warning sign.

Traders should be aware that unverifiable withdrawal processes are a common feature of fraudulent or high-risk brokers. It is advisable to contact the broker directly for details, but with extreme skepticism.

FXTM carries an FXCanary Scam Risk Score of 85/100 (Severe). This rating reflects the broker's short operational history, the inability to confirm regulatory licenses from web sources, and the lack of independent user reviews. The broker may be a clone of the well-known FXTM brand, exploiting name recognition to attract unsuspecting traders.

This broker is not suitable for conservative traders or those seeking a transparent, long-established provider. Only highly experienced traders who fully understand the risks and have independently verified all regulatory claims should consider this broker, and even then, only with minimal capital.