Is FXTM A Reliable Broker?

Founded in 2011, FXTM is an abbreviation of ‘Forex Time Limited’, which is an award-winning forex broker registered in Cyprus. Alongside Forextime UK Ltd and Exinity Limited, these three entities make up the whole FXTM brand. These entities are authorized, licensed, and regulated in multiple jurisdictions.

The official website of FXTM is www.forextime.com.

As the FXTM brand is made up of 3 different entities, each of them has a registered office at a different address:

I. ForexTime Limited is located at 36, Lamprou Konstantara, FXTM Tower, 4156, Kato Polemidia, Limassol, Cyprus

II. Exinity Capital East Africa Ltd is located at West End Towers, Waiyaki Way, 6th Floor, P.O. Box 1896-00606, Nairobi, Republic of Kenya

III. Exinity UK Limited is located at 1 st. Katharines Way, London, England, E1W 1UN, United Kingdom

IV. Exinity Ltd is located on the 5th Floor, NEX Tower, Rue du Savoir, Cybercity, 72201 Ebene, Republic of Mauritius

The WikiFX field survey team paid a visit to FXTMs registered address in Cyprus (as stated in (i) above) and verified the legitimacy of their business premise.

To read more about the findings of the WikiFX Field Survey team, click here: https://survey.wikifx.com/en/431347051f.html.

FXTMs Customer Support Department is available during these times:

Monday to Friday: 24 hours

Saturday: 11:00-16:00

Sunday: 12:00-20:00

(GMT+2/GMT+3 during Daylight Saving Time)

They can also be reached by calling +44 203 734 10 25, via Live Chat, or by email at support@fxtm.com.

Based on WikiFX, which is a global forex broker regulatory query platform, FXTM is a forex broker that has obtained a fairly high score among its industry competitors.

According to the review of the WikiFX investigation team, FXTM holds the license of the Cyprus Securities and Exchange Commission (CYSEC) as well as the Financial Conduct Authority in the United Kingdom.

However, contrary to its official claims, WikiFX found that FXTM has exceeded the scope regulated by the Financial Sector Conduct Authority in South Africa (license number: 46614) – which is one factor that causes a reduction in its WikiFX score in terms of risk management.

FXTM offers 3 different account types that operate with the MT5 trading platform, namely Advantage Plus; Advantage; and Micro.

Now, let us take a look at what the other users of FXTM said about its services and credibility. These reviews can be found on WikiFX‘s Exposure page (https://exposure.wikifx.com/en/exposure/3351410785.html) wherein users can upload their honest and transparent comments without any restrictions to help with WikiFX’s investigation process.

To date, there are 43 exposure pieces uploaded concerning the services of FXTM.

Here are a few complaints posted by a few users from different countries respectively:

Most of the Exposure cases posted were in relation to withdrawal issues. Therefore, through this WikiFX would like to highlight the underlying risk that FXTM may possess.

Although FXTM has a reasonably high WikiFX score with a legitimate office, traders should always be aware of the changes or creeping issues that may be a risk to their trading capital and accounts.

It is always better to be cautious than sorry when trading in the forex market. Therefore, a trader must always stay alert and sensitive to the changes not just within the market action and/or market price movement, but also with their brokers performances to keep themselves safe.

For any forex broker-related enquiries, simply log on to www.wikifx.com or download the free WikiFX mobile application on Google Play/App Store and get all the verified and relevant broker information at your fingertips. With just a few swipes you will be able to easily review, survey and compare to determine the reliability of your chosen forex brokers.