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    WikiFX Score

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    Negative

    Fake FXTM

    • Mauritius Mauritius
    • 1-2 years
    • Suspicious Regulatory License
    • Non MT4/5 Software
    • Suspicious Scope of Business
    • Suspicious Overrun
    Open Account
    WikiFX Score
    Comparison

    The WikiFX Score of this broker is reduced because of too many complaints! The WikiFX Score of this broker is reduced because of too many complaints! The WikiFX Score of this broker is reduced because of too many complaints!

    VPS Standard

    No restriction on the broker account. Provide service support by WikiFX

    • Single Core

    • 1G

    • 40G

    Get it for free

    Broker Information

    Company Name

    ForexTime Limited.

    Phone of the company

    --

    Company website
    https://fxtmartket.com/en
    Customer Service Email Address

    --

    Company address

    Exinity Limited, 5th Floor, 355 NEX Tower, Rue du Savoir, Cybercity, Ebene 72201, Mauritius

    FXTM Tower, 35 Lamprou Konstantara, Kato Polemidia, 4156, Limassol, Cyprus

    3rd Floor, 5, Allen Avenue, Ikeja Lagos, Nigeria

    88 Wood Street, 9th Floor London EC2V 7QR ​​​​​​​United Kingdom

    Pyramid scheme complaint
    Expose

    Check whenever you want

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    Android

    Warning: Low score, please stay away! 8
    2022.05.25

    It has been verified that this broker currently has no valid regulatory, please be aware of the risk!

    The number of the complaints received by WikiFX have reached 12 for this broker in the past 3 months, please be aware of the risk and the potential scam!

    • Account
    • Funding
    Comparison
    • FXTM Pro Account
    • ECN Zero Account
    • ECN Account
    • Stocks Account
    • Stock CFDs Account
    • Cent Account
    • standard accounts
    • Benchmark --
    • Maximum Leverage Floating from 1:200- 1:25
    • Minimum Deposit $/€/£ 25 000, ₦5 000 000
    • Minimum spread From 0
    • Products USD / EUR / GBP / NGN
    • Currency --
    • Benchmark --
    • Maximum Leverage Floating from 1:2000
    • Minimum Deposit $/€/£ 200, ₦80 000
    • Minimum spread From 1.5
    • Products USD / EUR / GBP / NGN
    • Currency --
    • Benchmark --
    • Maximum Leverage Floating from 1:2000
    • Minimum Deposit $/€/£ 500, ₦80,000
    • Minimum spread From 0.1
    • Products USD / EUR / GBP / NGN
    • Currency --
    • Benchmark --
    • Maximum Leverage 1:1
    • Minimum Deposit $/€/£ 100, ₦200,000
    • Minimum spread Tight
    • Products USD / EUR / GBP / NGN
    • Currency --
    • Benchmark --
    • Maximum Leverage Fixed leverage 1:10 for US Shares and 1:3 for European Shares
    • Minimum Deposit $/€/£ 100, ₦40,000
    • Minimum spread From 0.1
    • Products USD / EUR / GBP / NGN
    • Currency --
    • Benchmark --
    • Maximum Leverage Fixed from 1:1000 - 1:25 (FX), 1:500 -1:25 (Spot Metals)
    • Minimum Deposit $/€/£ 10 / ₦2 000
    • Minimum spread From 1.5
    • Products US Cent / EU Cent / GBP Pence / NGN kobo
    • Currency --
    • Benchmark --
    • Maximum Leverage Floating from 1:2000
    • Minimum Deposit $/€/£ 100, ₦40,000
    • Minimum spread From 1.3
    • Products USD / EUR / GBP / NGN
    • Currency --
    • Currency --
    • Minimum position 0.01 lot
    • EA supported
    • Depositing Method (13+) VISA Skrill VISA MASTER
    • Withdrawal Method (13+) MASTER PerfectMoney Skrill VISA
    • Commission --
    • Currency --
    • Minimum position 0.01 lot
    • Depositing Method (13+) VISA Skrill VISA MASTER
    • Withdrawal Method (13+) MASTER PerfectMoney Skrill VISA
    • Commission --
    • Currency --
    • Minimum position 0.01 lot
    • Depositing Method (13+) VISA Skrill VISA MASTER
    • Withdrawal Method (13+) MASTER PerfectMoney Skrill VISA
    • Commission $2 per lot
    • Currency --
    • Minimum position 0.01 lot
    • Depositing Method (13+) VISA Skrill VISA MASTER
    • Withdrawal Method (13+) MASTER PerfectMoney Skrill VISA
    • Commission --
    • Currency --
    • Minimum position 0.01 lot
    • Depositing Method (13+) VISA Skrill VISA MASTER
    • Withdrawal Method (13+) MASTER PerfectMoney Skrill VISA
    • Commission --
    • Currency --
    • Minimum position 0.01 lot
    • Depositing Method (13+) VISA Skrill VISA MASTER
    • Withdrawal Method (13+) MASTER PerfectMoney Skrill VISA
    • Commission --
    • Currency --
    • Minimum position 0.01 lot
    • Depositing Method (13+) VISA Skrill VISA MASTER
    • Withdrawal Method (13+) MASTER PerfectMoney Skrill VISA
    • Commission 0
    Brokers What Are The Types of Forex Scams, and How Can You Protect Your Account?

    Scammers have become more prevalent on the internet in recent years. Some scam operations have begun to use the name of a broker to make money from their victims. Forex trading scams occur when fraudsters deceive customers into investing their money in fictitious foreign exchange schemes.

    WikiFX
    2022/1/13 9:46:29
    What Are The Types of Forex Scams, and How Can You Protect Your Account?

    Fake FXTM

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    Cyprus Securities and Exchange Commission

    Cyprus Securities and Exchange Commission (CYSEC)

    The Cyprus Securities and Exchange Commission (CySEC) was established in accordance with section 5 of the Securities and Exchange Commission (Establishment and Responsibilities) Law of 2001 as a public legal entity. It is an independent public supervisory Authority responsible for the supervision of the investment services market, transactions in transferable securities carried out in the Republic of Cyprus and the collective investment and asset management sector. It also supervises the firms offering administrative services which do not fall under the supervision of ICPAC and the Cyprus Bar Association.

    • Licensed Institution :

      Forextime Ltd

      Effective Date :

      2012-12-13
    • Email Address of Licensed Institution :

      compliance@forextime.com

      License Type:

      No Sharing
    • Website of Licensed Institution :

      www.forextime.com/eu

      Expiry Date :

      --
    • Address of Licensed Institution :

      35, Lamprou Konstantara Street, FXTM Tower, Kato Polemidia, CY-4156 Limassol

      Phone Number of Licensed Institution :

      +357 25 558 777
    • Licensed Institution Certified Documents :

      Annex1 Annex2 Annex3 Annex4
    Financial Conduct Authority

    Financial Conduct Authority (FCA)

    The Financial Conduct Authority (FCA) is a financial regulatory body in the United Kingdom, but operates independently of the UK Government, and is financed by charging fees to members of the financial services industry. On 19 December 2012, the Financial Services Act 2012 received royal assent, and it came into force on 1 April 2013. The Act created a new regulatory framework for financial services and abolished the Financial Services Authority. The FCA regulates financial firms providing services to consumers and maintains the integrity of the financial markets in the United Kingdom. It focuses on the regulation of conduct by both retail and wholesale financial services firms.

    • Licensed Institution :

      Exinity UK Ltd

      Effective Date :

      2018-02-01
    • Email Address of Licensed Institution :

      info@forextime.co.uk

      License Type:

      No Sharing
    • Website of Licensed Institution :

      https://www.forextime.com/uk

      Expiry Date :

      --
    • Address of Licensed Institution :

      1 St. Katharine's Way London E1W 1UNE 1 W 1 U N UNITED KINGDOM

      Phone Number of Licensed Institution :

      442035141251
    • Licensed Institution Certified Documents :

      Annex1 Annex2 Annex3 Annex4
    Financial Conduct Authority

    Financial Conduct Authority (FCA)

    The Financial Conduct Authority (FCA) is a financial regulatory body in the United Kingdom, but operates independently of the UK Government, and is financed by charging fees to members of the financial services industry. On 19 December 2012, the Financial Services Act 2012 received royal assent, and it came into force on 1 April 2013. The Act created a new regulatory framework for financial services and abolished the Financial Services Authority. The FCA regulates financial firms providing services to consumers and maintains the integrity of the financial markets in the United Kingdom. It focuses on the regulation of conduct by both retail and wholesale financial services firms.

    • Licensed Institution :

      Forextime Ltd

      Effective Date :

      2013-05-02
    • Email Address of Licensed Institution :

      --

      License Type:

      No Sharing
    • Website of Licensed Institution :

      --

      Expiry Date :

      --
    • Address of Licensed Institution :

      88 Wood Street London EC2V 7QRE C 2 V 7 Q R UNITED KINGDOM

      Phone Number of Licensed Institution :

      --
    • Licensed Institution Certified Documents :

      Annex1 Annex2
    Financial Sector  Conduct  Authority

    Financial Sector Conduct Authority (FSCA)

    The Financial Sector Conduct Authority (FSCA) is the market conduct regulator of financial institutions, that provide financial products and financial services, financial institutions that are licensed in terms of a financial sector law, including banks, insurers, retirement funds and administrators, and market infrastructures. The FSCA is responsible for market conduct regulation and supervision. FSCA aims to enhance and support the efficiency and integrity of financial markets and to protect financial customers by promoting their fair treatment by financial institutions, as well as providing financial customers with financial education. The FSCA will further assist in maintaining financial stability.

    • Licensed Institution :

      FOREXTIME LTD

      Effective Date :

      2016-07-05
    • Email Address of Licensed Institution :

      --

      License Type:

      No Sharing
    • Website of Licensed Institution :

      --

      Expiry Date :

      --
    • Address of Licensed Institution :

      FXTM TOWER 35 LAMPROU KONSTANTARA, KATO POLEMIDIA LIMASSOL, CYPRUS

      Phone Number of Licensed Institution :

      00357 25558777
    • Licensed Institution Certified Documents :

      Annex1 Annex2

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    Fake FXTM

    根據香港證券及期貨事務監察委員會的規定

    為確保您查看資訊及時性和準確性,我們將為您跳轉到相關的監管資訊頁面

    WikiFX·pyramid scheme complaint
    1  Know about pyramid scheme  >
    2  Pyramid scheme complaint   >
    3  Done
    1. What is pyramid scheme complaint?
    With the continuous development of the forex market, more and more Ponzi schemes have poured in, and global investors have suffered greatly. WikiFX has set up a complaint channel in order to ensure the funds security and prevent more scams. We sincerely invite foreign exchange investors to report such fraud platforms and jointly purify the market environment!
    2. 10 Features of Pyramid Scheme
    High Profit Promised Level Marketing Required Multi-level Marketing False Advertising Master Trader Awarded 'Datuk' Brainwashing-style training Fake Regulation Copycat of other platforms Marketing & PR campaigns
    Report immediately
    Report This Platform
    Fake FXTM
    * Contact number
    0086
    *Enter your phone number
    *Reporting Reasons

    *Enter your reason
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    Submit successfully!

    You can check the real-time processing progress in 'User Center-My Release-Ponzi Scheme'

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    Fake FXTM · Company summary

      General Information

      It has been verified that Fake FXTM is a suspicious clone. The licensed company it impersonates is FXTM, an online financial trading platform and multi asset broker founded in 2011.

      FXTM Brand

      FXTM is a well-regulated broker with three brands, ForexTime Ltd, ForexTime UK Ltd and Exinity Limited. Of these, ForexTime UK Ltd (www.forextime.com/uk) is authorized and regulated by the Financial Conduct Authority with license number 777911. ForexTime Limited (www.forextime.com/eu) is regulated by the Cyprus Securities and Exchange Commission with CIF license number 185/12, and Financial Sector Conduct Authority (FSCA) of South Africa with FSP No. 46614. Exinity Limited (www.forextime.com) is regulated by the Financial Services Commission of the Republic of Mauritius with license number C11301229.

      What are clone brokers?

      As it turns out, clone brokers are on the rise these days, with fraudulent companies setting up shop by using names of reputable companies to trick clients into thinking that theyre trading with a regulated Forex firm. They even use the license number of regulated brokers to fool traders into opening accounts with them! And identity theft is a typical fraudulent method for “cloned companies”: the fraudster uses information about an actual authorized company, such as company registration number (CRN), address, email, etc., to gain credibility and even legitimacy in order to convince and solicit investors.

      Risk Warning

      The number of the complaints received by WikiFX has reached 12 for Fake FXTM in the past 3 months, mainly covering the inability to withdraw funds. Please note that the trader may be an illegal Ponzi scheme!

    Risk Warning

    The Database of WikiFX comes from the official regulatory authorities , such as the FCA, ASIC, etc. The published content is also based on fairness, objectivity and fact. WikiFX doesn't ask for PR fees, advertising fees, ranking fees, data cleaning fees and other illogical fees. WikiFX will do its utmost to maintain the consistency and synchronization of database with authoritative data sources such as regulatory authorities, but does not guarantee the data to be up to date consistently.

    Given the complexity of forex industry, some brokers are issued legal licenses by cheating regulation institutes. If the data published by WikiFX are not in accordance with the fact, please click 'Complaints 'and 'Correction' to inform us. We will check immediately and release the results.

    Foreign exchange, precious metals and over-the-counter (OTC) contracts are leveraged products, which have high risks and may lead to losses of your investment principal. Please invest rationally.

    Special Note, the content of the Wikifx site is for information purposes only and should not be construed as investment advice. The Forex broker is chosen by the client. The client understands and takes into account all risks arising with Forex trading is not relevant with WikiFX, the client should bear full responsibility for their consequences.