If you take a closer look, you will see the resemblance between FXTime and ForexTime, better known as FXTM. While one is a regulated broker with several licenses, the other one is a bogus clone.
Our detailed FXTime review will show you who you’re dealing with. We will highlight the main problems and the reasons why your money is not safe.
Unlike its counterpart, FXTime is not licensed. The company is entirely anonymous, and we cannot find its headquarters or the official owner. Hence, we’re unsure where even to begin our search for the FXTime regulation.
After going through the databases of major authorities, such as FCA, ASIC, and BaFin, we can safely say that FXTime is a scam. Not only is the broker not licensed, but it has been blacklisted in several countries.
Additionally, the leverage limit in the EU imposed by ESMA is 1:30 for retail traders, while FXTime brags about offering from 1:100 to 1:500. All this indicates that you’re dealing with fraud. And in case of any issues, you cannot request a reimbursement from the authorities.
Let us know if you have any details about FXTime and its operations.
FXTime is an unregulated online trading brokerage. The firm has been banned in Austria, Germany, and Canada for illicit activities.
FXTime is an unregulated online trading brokerage. The firm has been banned in Austria, Germany, and Canada for illicit activities.
Finally, in March 2023, the Canadian regulator of the province of Quebec issued a warning regarding fxtime.io and webtrader.fxtime.io, marking the firm as illicit. The warning was raised to a national level by Securities Administrators.
Our research shows that their scam mainly targets investors in the following countries:
Wherever you reside, always check your broker’s regulations. It’s the only way to keep your money safe and ensure you can get reimbursed later.
FXTime trading platform won’t be awarded for the software of the year. The company only offers basic WebTrader with several functions. You can open pending orders, check your trading history, and see your leverage. Other than that, no special tools.
Unlike this lackluster solution, you could find a regulated broker offering MT4, MT5, or cTrader. Each of these platforms has millions of users thanks to their advanced functionalities, such as EAs or social trading.
Since the platform is browser-based, the only way to log in through your mobile device is via a web browser.
If you’re still keen on investing, which shouldn’t be the case after all the warnings from authorities, here’s what you can trade in:
The company claims the spread starts from 0.0 pips, with low commissions. However, there is no Demo account that would help us verify it. Since everything else so far wasn’t convincing, we wouldn’t trust this either.
From all it seems, FXTime account types don’t exist. While most brokers have different accounts for traders of different skill levels and risk appetite, here we have nothing.
We know that the minimum deposit is $250. It’s pretty much the standard sum you’ll be required to pay with any unregulated broker. Then, they’ll create various financial plans and convince you to invest more and more until you have nothing left. This is when they’ll disappear, and you will understand the harsh truth – your broker is a fraud.
Another thing we’re missing is the FXTime Demo account. Instead of allowing customers to see the infamous WebTrader and confirm trading terms, this brokerage requires money immediately.
It doesn’t surprise us, though. If they allowed you to see through their lies and find that trading is way more expensive than advertised, you’d never pay a penny. Hence, they had to go without a risk-free Demo.
The company listed the following payment options:
However, no FXTime Withdrawal Policy would specify the terms for us. There is no list of costs and commissions nor the minimum withdrawal amount. Of course, it’s because you won’t see your money back if we were to believe FXTime reviews.
If you’re experiencing trouble with your FXTime account, we’re here to help you. Our team of chargeback experts can assist with the monetary recovery in a legal way.
Don’t give up on your hard-earned money. Chargeback is a viable option, and we’ll guide you through the procedure during our free consultation. Book now!
FXTime is an unregulated trading brokerage you shouldn’t trust. If you have already deposited your money, we may be able to help.
FXTime only offers WebTrader and has no mobile apps included.
Considering that the company has received three regulatory bans, your money is unsafe.
FXTime is an unregulated trading brokerage you shouldn’t trust. If you have already deposited your money, we may be able to help.
FXTime only offers WebTrader and has no mobile apps included.
Considering that the company has received three regulatory bans, your money is unsafe.
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