ForexTime, a.ka. FXTM, a forex broker regulated in Cyprus, officially opens its doors in London to better serve retail and institutional clients in the UK and Europe. FXTM’s London office will be headed by Demetrios Zamboglou.
As the company’s performance in the past few years is consistently successful, the broker’s new strategic establishment comes as no surprise. Besides, the advantages of direct company presence in a key global financial hub as London are obvious.
FXTM` CEO Olga Rybalkina commented: “The division in the UK will be our strategic point from which we will provide our UK and European customers, as well as clients from around the world, safe and high-quality products and services. This step demonstrates our intention to build a global network that will represent FXTM as a trusted broker of innovation around the world”.
Being a Cyprus Investment company, regulated by the Cyprus Securities and Exchange Commission (CySEC), the broker already has a MiFID license which allows it to operate in the UK and in all EU Member States. It is not clear whether FXTM intends to acquire a license from the Financial Conduct Authority (FCA).
After the company’s London expansion, FXTM has also updated its client agreement. Currently it includes the new subsidiary Forextime Ltd. UK division with the relevant information: FCA registration number and the list of websites the company operates: www.forextime.com/eu, www.forextime.co.uk/eu and www.forextime.com.cn/eu/zh.
Cyprus-based FXTM offers trading in more than 100 instruments, including forex, spot metals, and CFDs on stocks, commodities, and exchange traded fund (ETFs) on both MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms.
The company was launched in late 2012 when one of the co-founders of Alpari, a leading Russian forex broker, separated from the latter and launched a brokerage of his own under the FXTM brand. Since its launch, FXTM has managed not only to establish itself as a reliable forex broker, but also to experience stable growth.