FXTM – Is it scam or safe?

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FXTM – Is it scam or safe?

FXTM, which stands for ForexTime, is a trading name of the Cypriot company ForexTime Limited. It is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) and licensed by the Financial Services Board (FSB) of South Africa. The company has a branch in the UK as well. Licenses allow it to offer financial services, including forex.

However, there are some posts in forex forums that inform about poor customer service (automated messages), negative slippage practices, stop-loss hunting and money withdrawal difficulties.

So far, we haven’t received any complaints from clients of FXTM.

If you feel frustrated by FXTM and have something to share with us, please fill in the form below, describing your case:

9 Complains

  1. I fed my account with USD400 and I received an SMS from my HSBC account as a proof of this transaction. As an enigma, this deposit was staying pending for the entire day. I immediately reported this to the chat person. So, this late transaction cost me USD2.5k and three positions were closed due to lack of funds. I am sure if my money was put into my account on time, my positions wouldn’t be closed! They answered me they did nothing wrong. A legal way to steal money! Scamming tricks!

  2. This is a pure scamming broker! I have a micro account and they change my margin requirements non stop! It doesn’t matter what you are trading or do you lose or win. The spreads are big enough to bankrupt you. There are better brokers for your money!

  3. I experience big slippage and stop loss hunting all the time. Probbly they have illegal plugin for MetaTrader4 platform. Metaquote is not a reliable developer any more since they offer illegal plugins for manipulating ! Beware of this scam company!

  4. I deposited money using my web wallet last month. This is a very reliable digital wallet but FXTM refused to fund my account. I sent them a lot of mails confirming my deposit but they still refused to feed my account. Terrible disappointment.

  5. Initially everything was OK. I opened my account because they offered starting bonus. When I started trading however my account froze. I contacted their support and they told me I didn’t meet the requirements of terms and conditions… I do not recommend them!

  6. My postion for GBP/JPY was open when they changed pips value of GBP/JPY and EUR/USD also. They executed my stop loss and of course the market never been there. Just stay away from these scammers. Fraud scam sh*t! Stop loss hunters!

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