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FXTIME Forex Broker provides real users with * positive reviews, 2 neutral reviews and 3 exposure review!

FXTIME Broker Review

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FXTIME Review 5

Latest All(5) Neutral(2) Exposure(3)
Exposure
They won't let me withdraw the money please help me

when they contacted me they told me that i could start with 430 canadians and that i had a trial week so that later if i saw good profits i would continue investing and likewise it was a week there were half by half profits and i reinvested 2500 canadians and the profits continued and the broker called ivana and this is her phone number told me that she had a good project and that i had to invest 10,000 euros but i didn't have them. the only thing i could get from a bank card was 5,000 canadian and we deposited it, i told her. that for that money i had to pay a monthly interest of 600 canadian dollars and he told me that we could take it out that it was not a problem but later i found out about this page and i realized that this company FXTIME it is not regulated and the brokers showed me the data of this other company called fxtm to which i wrote and they told me that they had nothing to do with FXTIME so i paid more attention to the operations that the brokers were doing and i realized that they were moving the graph in profit since i was getting very good profits. to close the account and withdraw all the money and i told her that it was fine that she was going to withdraw everything and close the account but she sent me a document that says that i have to deposit 6180 euros of taxes before april 4, 2023 and if i don't deposit them i lose all my money that there are already 30,900 euros but i know that if i deposit they will scam me and i'm afraid since i have 7,930 canadian invested and i owe money to the bank and i don't even have enough to pay the interest for please, i am writing to you to see if you can help me to recover the money and so that people are careful when they are going to invest, that they inform themselves first so that this does not happen to them.

D329
2023-03-28
Neutral

This company does not provide online chat service, only contact by email or phone, which gives me the feeling that it is relatively inefficient.

黄玫
2022-12-15
Neutral

Awful, this company claims to have multiple regulatory licences, but wikifx info shows that none of them are valid... mostly cloned licences. Other language content on the page is provided by Google Translate, and some parts don't make any sense.

Liz
2022-12-02
Exposure
Unable to withdraw

Apparently, a person from this company called me and told me that they are changing the company from UK to Austria and they have to liquidate all the account. We have to pay 10% fee to unfreeze our account. They sent us the following letter that I attach here. I only have 615€ but my friend has 64000€ and she has to pay more than 5000€ in advance to withdraw her money. According to the letter they are called ANTRAX GROUP, but instead of London, they are based in Saint Vicent and Granadinas. SCAM

FX3252560841
2021-04-25
Exposure
Have to pay 15% margin to withdraw funds

15% margin is required for wrong opening bank. But I am afraid if I pay the money, some other problems will occur. I’ve deposited 114,000

小沫
2020-12-31

  

FXTime 2025 Review: Everything You Need to Know

  In the world of online trading, FXTime has emerged as a controversial player, attracting both interest and skepticism. As per the information gathered from various sources, the overall sentiment regarding FXTime is predominantly negative, with users expressing concerns about its legitimacy and reliability. Key findings indicate that while some users report decent trading experiences, a significant number have raised red flags regarding withdrawal issues and regulatory compliance.

  Note: It is crucial to highlight that FXTime operates under different entities across various jurisdictions, which can complicate the regulatory landscape and raise concerns about its operations.

  

Ratings Overview

Category Rating (out of 10)
Account Conditions 4
Tools and Resources 5
Customer Service and Support 3
Trading Setup (Experience) 4
Trustworthiness 2
User Experience 3
Additional Considerations 3

  How We Rated the Broker: Our rating is based on user reviews, expert opinions, and factual data regarding FXTime's operations.

  

Broker Overview

  Founded in 2020, FXTime is an online broker that offers trading services in forex, cryptocurrencies, and CFDs. However, it has gained notoriety for being unregulated, with multiple warnings issued against it by various financial authorities. The platform does not support popular trading software like MT4 or MT5, instead opting for a proprietary web-based trading platform that lacks advanced features. FXTime claims to provide access to a broad range of trading instruments, including forex pairs, commodities, indices, stocks, and cryptocurrencies.

  

Detailed Analysis

  

Regulatory Landscape

  FXTime operates without a valid license from any reputable regulatory authority, which raises concerns about its legitimacy. It has been blacklisted by several regulatory bodies, including the Austrian FMA, German BaFin, and the Canadian CSA, for engaging in unauthorized trading activities. This lack of regulation is a significant red flag for potential investors, as it indicates that there are no safeguards in place to protect client funds.

  

Deposit and Withdrawal Options

  FXTime requires a minimum deposit of $250 to open an account, which is standard among many brokers. However, users have reported difficulties when attempting to withdraw their funds, with claims of excessive fees and unreasonable withdrawal conditions. This has led to a concerning trend where many users feel trapped and unable to access their own money.

  

Trading Instruments

  The broker offers a diverse array of trading options, including major forex pairs, commodities like gold and silver, and indices such as the Nasdaq and FTSE 100. Additionally, cryptocurrency trading is available, which has become increasingly popular among retail traders. However, the absence of a demo account limits potential clients' ability to test the platform before committing real funds.

  

Cost Structure

  FXTime advertises spreads starting at 0.0 pips, but many users have noted that actual trading conditions can vary significantly. The broker charges commissions on higher-tier accounts, which can increase trading costs. Moreover, the lack of transparency regarding fees is a common complaint among users, leading to frustrations over unexpected charges.

  

Leverage and Trading Platforms

  FXTime claims to offer leverage of up to 1:500, which is considerably higher than what is permitted in many regulated markets. This can amplify both profits and losses, posing a significant risk to traders. The platform itself is a basic web trader, lacking the advanced capabilities found in more established platforms like MT4 or MT5, which can hinder trading efficiency.

  

Customer Support

  Customer support at FXTime has received poor ratings from users, with many reporting slow response times and inadequate assistance. The limited support channels available further exacerbate the situation, making it challenging for traders to resolve issues effectively.

  

Repeated Ratings Overview

Category Rating (out of 10)
Account Conditions 4
Tools and Resources 5
Customer Service and Support 3
Trading Setup (Experience) 4
Trustworthiness 2
User Experience 3
Additional Considerations 3

  

Detailed Breakdown

  • Account Conditions: FXTime offers a basic account structure with a minimum deposit of $250. However, the lack of regulatory oversight raises concerns about the safety of funds.
  • Tools and Resources: The platform provides limited resources for traders, lacking advanced analytical tools and educational materials, which are crucial for informed trading decisions.
  • Customer Service: Users have reported significant challenges in reaching customer support, leading to dissatisfaction and frustration.
  • Trading Setup: The proprietary web-based platform is basic and does not offer the robust features found in other trading platforms, which can hinder the trading experience.
  • Trustworthiness: With multiple regulatory warnings and a lack of transparency, FXTime's trustworthiness is severely compromised, making it a risky choice for traders.
  • User Experience: Overall user experiences have been mixed, with many expressing concerns over withdrawal issues and the overall reliability of the platform.
  •   In conclusion, the FXTime review indicates that potential traders should exercise extreme caution when considering this broker. The numerous complaints about withdrawal issues, lack of regulation, and poor customer service highlight significant risks associated with trading through FXTime. It is advisable to explore more reputable and regulated brokers to ensure a safer trading experience.