de | cn | ru

Brokers News

FX Broker FXTM Launches Representative Office in London

Forex Time (FXTM), the Cyprus-based Forex broker that earlier this month celebrated is first anniversary, is already expanding: from August 26th, it has a representative office in London. 
The new outlet is located at 33 Old Broad Street, London EC2M 1RX, so all of the UK clients of the company will be much closer to its services. Moreover, a business boosts its credibility thanks to a physical presence. 
 
The London representative office belongs to ForexTime Ltd, which can be found in the register of the Financial Conduct Authority (FCA), the UK watchdog, under number 600475. The description in the registration states that the company is regulated by the Cyprus Securities and Exchange Commission (CySEC) and that the business may be subject to limited regulation by the FCA.
 
In simple terms,  FXTM has a license as a Cyprus Investment Firm (CIF) from its home regulator, but does not have a license from the UK watchdog. However, the lack of an FCA-license does not prevent the FX broker from operating in the UK and offering its services there. This is because the CySEC license (from December 13, 2012) allows it to operate anywhere in the UK, as long as it complies with the Markets in Financial Instruments Directive (MiFID). And if you still have any doubts about client fund safety, let me remind you that FXTM is a member of the  the Investor Compensation Fund (ICF) which secures a cover of up to EUR 20,000 (USD 27,000) to customers.
 
London is an attractive destination for FX businesses seeking to expand: in July another Cypriot FX broker, Liquid Markets, announced the opening of a branch in the UK capital. What's even more curious about FXTM's move, however, is whether the company aims to secure an FCA license. Moreover, the broker is talking about wider global expansion and I wonder what the next target would be. Given the latest regulatory chaos in Cyprus, my guess would be that a new office would be launched outside of the European Union, probably in New Zealand.
 

About ForexTime

 
Led by Mr Andrey Dashin, founder of Alpari, ForexTime Ltd is committed to providing the tools and support to ensure maximum performance for traders. ForexTime Ltd will offer trading and other investment services in Forex, commodities, precious metals, shares, indices and other financial instruments.
TAGS: fxtm. forex time  fxtm forex broker  forex expansion  fxtm new office  fxtm london office  corporate structure  cyprus investment firm  cysec  fca  financial conduct authority 

More news about FXTM

Broker Country Regulation Platform Min Deposit Review
US CFTC, NFA MT4, Web,
in-house
$50 Review Website
US NFA, CFTC MT4 $250 Review Website
Cyprus, UK, Mauritius CySec, FCA, FSC MT4, MT5, Web $10 Review Website
Australia ASIC MT4, MT5,
IRESSTrader
$100 Review Website
Cyprus, Australia CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia, South Africa FCA, ASIC, FSCA MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
Cyprus, UK CySEC, FCA MT4, MT5 $1 Review Website
UK FCA MT5 $5 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website
Australia, UK ASIC, FCA MT4, MT5,
cTrader
$200 Review Website
UK, Cyprus, Dubai FCA, CySEC, DFSA MT4, MT5, Web,
PrimeTrader
$100 Review Website

More Forex Brokers News

FXTM Launches 30% Welcome Bonus

Aug 06 2019 13:38:53

  As part of FXTM’s mission to provide clients with an exceptional trading experience, the international broker has launched its latest offering – the 30% Welcome Bonus!   This promotion, available under Exinity Limited, boosts your account by an extra 30% when you deposit $100... Read more

XM parent actively prepares for the launch of its US brand Trading.com

Jul 03 2019 14:19:28

  Trading Point Group, the owner and operator of the XM brand, actively prepares for the future launch of its US brand Trading.com. Read more

FBS Invites 20 Best Partners To a VIP Party

Jul 02 2019 15:04:24

Partner parties is a great way to get to know company’s local promoters and celebrate loyalty, motivation, and cooperation. In 2019, FBS broker launches the FBS Stars contest with a round trip flight to Russia’s second largest city and a VIP party invitation as a prize. Read more

Vantage Prime will no longer service non-Australian clients

May 20 2019 13:36:39

  Vantage Prime, which is a part of the Vantage FX group, announced it will no longer service non-Australian clients, online media Finance Magnates reported today. The broker’s decision is taken due to regulatory concerns. Read more

Dukascopy warns it has no cooperation with shady broker GCG Asia

May 16 2019 13:29:47

  Swiss forex brokerage and bank Dukascopy has repeatedly warned investors that it is has no cooperation Guardian Capital Asia (GCG Asia) and that the latter is likely involved in a fraudulent scheme. Read more

$75 mln forex Ponzi scam revealed in the US

May 03 2019 16:46:08

The Commodity Futures Trading Commission (CFTC) in the US has filed charges against Florida based Oasis International Group, Oasis Management and Satellite Holdings along with their owners for running a 75 million USD Ponzi scheme, concealed as forex investment program. Read more

Australians lost $86 mln to investment scams in 2018

May 02 2019 17:04:18

Australians lost over 86 million USD to investment scams in 2018 alone – the biggest portion of the almost 490 million USD  in losses from over 378 000 scam reports, the latest report of the Australian Competition and Consumer Commission’s (ACCC) reveals. Read more

FXTM now offers a deposit bonus of up to $5 000

Apr 25 2019 11:10:24

  Global award-winning brokerage FXTM has launched their biggest deposit bonus promotion ever. The broker is now offering an extra 30% back from every amount their traders deposit over a period of 30 days, up to a total of $5,000. Read more

FXTM appoints Han Tan as a Market Analyst for Southeast Asia region

Apr 19 2019 13:28:36

  Global award-winning forex broker FXTM has just announced the appointment of Tan Chung Han (Han Tan) as a Market Analyst. Read more

FXTM gets a license from Mauritius’ FSC

Mar 28 2019 09:59:36

  Award-winning forex brokerage  FXTM (ForexTime) continues its ongoing global expansion. The broker announced it has acquired a license from the Financial Services Commission (FSC) of the Republic of Mauritius previous week. Read more

de | cn | ru