ANSWER Based on its regulatory status, FXTM is not a scam. It is a multi-regulated broker, and thus carries less risks than those unlicensed counterparts. You can refer here for more details about FXTM's licenses.
FXTM (ForexTime) is not generally considered a scam broker. It is a long-established forex and CFD broker with multiple regulatory licenses, but the level of protection depends on which FXTM legal entity you open an account with.
Is FXTM Legit or a Scam?
Overall assessment: FXTM is a regulated broker, not a typical scam broker.
FXTM was founded in 2011 and operates internationally. It is regulated by several financial authorities, including:
Financial Conduct Authority (FCA) — through its UK entity
Cyprus Securities and Exchange Commission (CySEC) — through its European entity
Financial Sector Conduct Authority (FSCA) — through its South African entity
Other offshore registrations for international clients
These regulators impose requirements related to client funds, compliance procedures, and operational standards.
Why Some People Question FXTM?
Although FXTM is regulated, there are several reasons why some traders express concerns:
1. Different entities provide different protection
FXTM serves clients through different subsidiaries.
For example:
Entity
Region
Protection Level
FCA-regulated entity
UK
High
CySEC-regulated entity
Europe
High
FSCA-regulated entity
South Africa
Medium
Offshore entities
International markets
Lower
A trader registered under an offshore entity may not receive the same protections as a UK or EU client.
2. High leverage availability
FXTM offers high leverage in some jurisdictions.
High leverage is attractive to experienced traders but increases risk significantly. It is not itself evidence of fraud, but traders should understand the risk.
3. Negative online reviews
Like many large brokers, FXTM has complaints online related to:
withdrawal delays
account verification issues
customer service experiences
trading losses
However, negative reviews alone do not prove a broker is fraudulent. Large brokers across the industry receive complaints because of the nature of leveraged trading.
FXTM Advantages
✅ More than 10 years of operating history✅ Regulated by recognized financial authorities✅ MT4 and MT5 support✅ Forex, metals, commodities, indices, CFDs✅ Multiple account types✅ Established global brand
FXTM Potential Weaknesses
❌ Client protection varies by jurisdiction❌ Offshore entities may provide weaker safeguards❌ Product availability differs between regions❌ Some traders report service-related complaints
Final Verdict
Is FXTM a scam? → No, FXTM is not considered a scam broker.
A more accurate classification would be:
Regulated Broker — Medium Risk / Moderate Trust
For a broker review website (such as BrokersView style), the recommended label would be:
✅ Regulated Broker
⚠️ Risk Level: Medium
❌ Not: Scam Broker / Fake Broker
Before opening an account, traders should verify which FXTM entity will hold their account and check the regulator’s official register.
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