Fake FXTM-Some important Details about This Broker

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!