FxTime Review – Truth About FxTime.Io
FxTime.lo looks pretty much like any other broker website. Yet, we can’t judge whether they’re trustworthy or not by their appearance alone. We’ll dive deep into all the available information and see what’s up with FxTime.
In our FxTime review, we’ll examine many important things. For example, whether they follow the rules, how the trading process works, and how responsive the customer support is. After we look at all these things, we’ll decide whether FxTime is a reliable broker or not.
We can’t write them off without doing our homework first. So, let’s get started!
|Broker Status:||Unregulated Scam Broker|
|Regulated by:||No Regulation|
|Operating Status:||Active Forex Trading Scam|
|Blacklisted as a Scam by:||BaFin, FMA, CNMV, CSA, AMF Quebec|
|Online Trading Platforms:||WebTrader|
|Mobile Trading:||Not Available – only via web|
|Crypto Asset Trading:||Available|
|CFD Trading Option:||Yes|
|Available Trading Instruments:||FX, commodities, indices, shares, crypto|
|Islamic Account:||Not Available|
|Free Demo Account:||No|
|Accepts US clients:||Yes|
Is FxTime a Reliable Company? Broker’s Regulation
Okay, let’s get real about FXTime. They’re a sketchy website offering financial services without licensing. They don’t even tell us who’s running the company or where they’re based. They give us only a phone number with a Swiss country code and a reference to Estonian law.
But here’s the thing – they’re not licensed in Switzerland, Estonia, or anywhere else, which is a major red flag. When you trade with these guys, you don’t even know who’s handling your money or if your funds are secure. That means you’re taking on a lot of risks. That includes the possibility of getting scammed and losing all your money. And to make things worse, these shady brokers can even disappear into thin air.
That’s why we’re telling our readers to stay away from these sketchy websites. Instead, stick with legit trading partners licensed by reputable financial institutions like CySEC or the FCA in the UK. These guys follow strict rules to treat you square and fair. With them, you can trade with confidence.
Overview of FxTime Trading Software
So, don’t expect FXTime’s web trading platform to win any awards for software of the year – it’s pretty basic. You can use it to open pending orders, check your trading history, and see your leverage, but that’s about it. No fancy tools or anything like that.
If you’re looking for something more advanced, you might want to check out MT4, MT5, or CTrader. These platforms have millions of users. They also offer cool features like EAs and social trading.
Oh, and another thing. Since the platform is web-based, the only way to access it on your mobile device is through a web browser.
Trading Instruments at FxTime
Despite all the warnings, if you’re still keen on investing, look at the list of trading instruments below. Here are some investment options:
- Forex pairs – EUR/USD, GBP/NOK, AUD/SEK
- Commodities – gold, silver, natural gas
- Indices – NASDAQ, FTSE100, CAC40
- Shares – Amazon, Apple, Netflix
- Cryptocurrencies – BTC, USDT, USDC
Deposit and Withdrawal
On their website, we didn’t find any info about the available trading accounts, and the minimum deposit is alleged $250. Payment methods are limited to credit cards and bank wire. Keep this in mind.
Withdrawal fees vary and depend on the method used. The company charges a 10% levy for withdrawals. The broker offers bonuses but requires a high trading volume to withdraw them. Beware of the risk of chargebacks, as the company will freeze your balance and access if you try to make a withdrawal.
How the Fraud was Committed?
Scammers often prey on people who are hoping to make quick and easy money. They will send out invitations that congratulate people on joining their business. Then, they will pressure them to invest more money in order to receive even greater returns. Nonetheless, this is not how legitimate investments work.
Once the victim realizes that they have been scammed, it may be too late to recover their lost funds. Scammers may try to stall and delay the refund process until the deadline passes. It is important to be cautious and do thorough research before investing any money. It is also important to remember that legitimate investments require time and patience to grow. Remember, if something looks too good to be true, it probably is.
So, our FxTime review has brought to light several concerning issues. Firstly, it’s worth noting that FxTime does not hold a valid license. This is a major red flag when choosing a broker. Further, they are the subject of scam warnings from multiple regulatory bodies such as BaFin, FMA, CNMV, CSA, and AMF Quebec.
Similarly, FxTime has a malicious bonus clause that may not be in traders’ best interests. This can be a big cause for concern, as brokers should always strive to provide fair and transparent conditions for their clients.
Lastly, we found that FxTime’s trading platform is poor compared to other options available on the market. This can have a negative impact on clients, as a reliable and user-friendly platform is essential for efficient trading.
Can You Make Money With FxTime?
No. A broker such as FXTime has all the characteristics of a scam. It is anonymous, unregulated, and lacks credibility.
Is My Money Safe with FxTime?
No, make sure that you understand your money is not safe with this company.
Does FxTime Offer a Demo Account?
No, a demo account for testing is not available at FxTime.