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FXTM brokerage kitchen review – company assessment, trading conditions, real reviews
The company does not offer a wide range of account types and hides trading conditions. At the same time, it launches various types of programs that guarantee clients additional income. The office advertises that here you can make a normal income even if the trader has minimal experience.
|Year of foundation
|Regulation and jurisdiction
CySEC, CMA, FCA
+44 20 3734 1025
+44 20 3734 1025
Exinity Limited, 5-й этаж, 355 NEX Tower,
Rue du Savoir, Cybercity, Eben 72201, Mauritius
- Wide range of assets
- Fast execution
- Additional bonuses, promotions, competitions for clients
- Offshore registration
- Hiding trading conditions
- Requotes and slippages
MetaTrader4 или MetaTrader5
|Types of accounts
Bank transfer, cards, electronic systems
Up 0,0 pips
Stock CFDs (MT5 only)
Promotions (MT5 only)
FXTM Divorce Scheme
Now regarding how scammers scam users out of money:
- pinitial contact. Company managers actively call potential clients, offering their services, or clients themselves find the broker’s website and show interest;
- registration and deposit. Once registered, clients top up their deposit to begin trading;
- at the beginning of cooperation, the company can allow clients to withdraw money, creating the impression of reliability and transparency;
- After initial successful transactions, the client’s deposit begins to decrease. In some cases, company managers may interfere with trading, contributing to the loss of funds;
- subsequent attempts by clients to withdraw funds are unsuccessful. Technical support may stop responding to requests or reject requests for withdrawal of funds;
- In some cases, client accounts may be blocked, making it impossible to access funds or continue trading.
This scam is mainly aimed at those new to trading who may not have enough experience to recognize fraudulent activities. FHTM is a classic scammer that can only exist in the trading segment.
Remember that it is possible to get your money back from the Forex kitchen or other online scammers. There are just a few who are interested in chargeback and complete the process. Just for consultationwrite to us. A forced transaction is truly a unique chance to get your money back.
Forextime.com service review
Before us is a company that is a leading global broker offering a wide range of online trading services and tools. The company offers access to hundreds of instruments across the FX, Indices, Commodities and Equities markets, providing traders with opportunities to maximize the potential of their trading. FXTM places a strong emphasis on providing quality customer support, utilizing cutting-edge technology, and offering a variety of trading account types to suit the needs of traders of varying experience levels. Additionally, we checked the launch date of the site. It turned out that the last rebranding was carried out in 2019. The site itself was launched in 2003. At the same time, the service’s activities started in 2011. Apparently, the management simply bought the domain to create the image of a reliable partner.
Since its launch, FXTM has attracted more than 4 million clients from 150 countries. The company is regulated in multiple jurisdictions and offers retail clients full segregation of funds, ensuring the security of their finances regardless of their country of residence.
FXTM has received more than 25 industry awards, demonstrating its commitment to helping clients trade successfully in the financial markets. The company offers various account types for traders, low trading costs, ultra-fast trade execution, and the popular MT4 and MT5 trading platforms.
The problem is that the service has not received the appropriate documents to legally provide services in the trading segment in the Russian Federation. That is, the Central Bank did not issue a license to the broker, which means the office violates the prescribed norms and rules. Despite the fact that the portal contains references to the regulation of the service’s activities.
Technical support with Forextime
The office offers the following methods of contacting a broker:
- telephone communications;
- Email. An email address is provided for inquiries and [email protected];
- physical office address.
These contact details provide a variety of ways to contact the company, including a direct telephone line and email for customer support. If you believe the comments, managers rarely make contact.
Terms of cooperation
The Forextime website offers various types of trading accounts, each with unique settings and conditions to suit clients’ trading and investment objectives. Now from what the office announces on the portal:
- Accounts in NGN. Available to Nigerian customers only;
- ECN MT4/MT5 accounts. They offer the opportunity to trade using leverage. Stop Out and Margin Call levels may be changed by the company during certain periods;
- swap-free accounts. Exotic pairings are not available for these accounts;
- FXTM Pro Accounts. They offer institutional level spreads subject to a minimum account balance of 25,000 EUR/GBP/USD. Stock trading is only available from the FXTM Pro MT5 account and the minimum required deposit is EUR/GBP/USD 250,000;
- Cent. The size of 1 lot is equal to 0.01 standard lot or 1000 units. The maximum volume of one trade on a Cent account is 100 Cent lots, which corresponds to 1 standard lot or 100,000 units.
Please note that the company does not disclose what spreads, transaction sizes, or limits on opening transactions. Even leverage is hidden.
FXTM does not charge any commission for funding your trading account. Funds are credited to the account instantly if there is no need for additional verification of the transfer. If there is no activity on the account (no trades are made) for 6 months, an inactivity fee of 5 EUR/USD/GBP will be debited from the account. If the fee refund policy is found to be abused or withdrawals are made without completing trades, FXTM reserves the right to charge the equivalent amount of any bank commissions and fees paid or 3% of the total withdrawal amount.
Of course, in this case we return to the reviews and understand that there is no withdrawal of money. The office works only in one direction, receiving funds from traders.
Cooperation with ForexTime (FXTM) will only lead to losses. Many customers report problems with withdrawals, where withdrawal requests are ignored or delayed indefinitely. There are also cases when company managers interfere in trading, contributing to the loss of clients’ funds rather than their earnings. In addition, there are suspicions of the lack of a license and the necessary documents for legal work, which is a critical factor for trust in the broker. These factors, coupled with numerous negative customer reviews, indicate potential risks of fraud and unreliability of the company.
Reviews from ex-clients about FXTM global
The following material contains comments on cooperation with the company. Apparently, users agree that we are dealing with a kitchen. Traders make attempts to withdraw money, but this does not produce any result.
Withdrawal requests are blocked or even deleted from your personal account. At the same time, technical support does everything to freeze the client out or delay the process.
Company representatives configure the terminal in such a way that it slows down transactions, slips, or shows incorrect data. Of course, this leads to a loss of money.
If you are not yet sure that we are dealing with scammers, then carefully study the user stories. Even using the example of these dozen reviews, we see that the company is manipulating the terminal and cheating everyone out of money, the only question is which scenario will be applicable to you.
Below is a list of basic signs of divorce:
- company managers actively call potential clients or use other methods of pressure to attract new users;
- customers experience difficulties when attempting to withdraw their funds, including refusals to process applications or requests being ignored;
- lack of clear information about trading conditions, spreads, commissions and other important aspects;
- lack of information about the company’s licensing and registration, which is a red flag regarding its legitimacy;
- there are reports that company managers interfere in trading operations, contributing to the loss of client funds;
- a large number of negative reviews and complaints from clients indicating fraudulent actions on the part of the broker;
- the presence of suspiciously positive reviews, which may be fake and aimed at creating a false impression of the company’s reliability;
- there are cases where customer accounts are blocked without providing valid reasons or warning;
- general opacity of the company’s activities and lack of responsibility to clients.
These signs can serve as a warning to potential clients and investors about possible fraudulent activities on the part of the broker. If we take into account the reviews posted on the Internet, we are really dealing with scammers.
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Customer reviews are one of the main criteria that influences the placement of a broker in the ranking of the best companies. You can see all reviews about FXTM on the company profile page.
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