de | cn | ru
Forex

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

Forex
Broker Country Regulation Platform Min Deposit Review
Cyprus CySec MT4, MT5, Web $5 Review Website
Cyprus, Australia CySec, ASIC MT4, Web $100 Review Website
UK, Cyprus, Hong Kong FCA, CySEC, SFC MT4, Web,
PrimeTrader
$100 Review Website
UK, Cyprus FCA, CySec MT4, MT5 $5 Review Website
UK, Australia FCA, ASIC MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Australia, Singapore FCA, ASIC, MAS, BaFin MT4, Web,
ProRealTime,
2Dealer
$0 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus CySec MT4, Web, Gwasy $100 Review Website
Belize IFSC MT4, MT5, Web $1 Review Website
Cyprus CySEC in-house mobile
app
$50 Review Website
Seychelles FinaCom MT4 $10 Review Website

More Forex Brokers News

FxPro hikes margin requirements ahead of Japanese elections

Oct 18 2017 08:25:06

 FxPro, a well-established European forex and CFD broker, announced it is temporarily hiking the margin requirements on some instruments ahead of the Japanese general elections on October 22. The outcome of the vote may affect the financial markets and the available liquidity. Read more

Alpari terminates offering of CryptA Capital cryptocurrency portfolio

Oct 18 2017 07:28:58

 Alpari, one of the larger international forex and binary options brokers, mostly active in Russia, announced it terminates the offering of the CryptA Capital cryptocurrency investment portfolio. Read more

FxOpen expands platform offering with MetaTrader 5

Oct 17 2017 09:09:15

 FXOpen, an ASIC and FCA-regulated forex and CFD broker announced it is adding the increasingly popular trading platform MetaTrader 5 to its offering. It provides access to ECN trading and interbank liquidity. Read more

Forex

Grand Capital launches Serenity Financial - blockchain-based arbitration forex platform

Oct 16 2017 07:40:20

 Forex, CFD and binary options broker Grand Capital  announced it has launched Serenity Financial – a blockchain-based secure forex marketplace for traders and brokers. Read more

Saxo Bank adds Ethereum tracker ETNs

Oct 12 2017 15:27:58

Saxo Bank, a major Danish financial services provider and forex broker, announced it is adding Ethereum Exchange Traded Notes (ETNs) to its asset list.   The new instruments are in addition to the Bitcoin tracker ETNs earlier and are all listed on Nasdaq OMX Stockholm. Read more

CySEC withdraws suspension of OptionRally's license

Oct 12 2017 12:13:20

 The Cyprus Securities and Exchange Commission (CySEC) has announced its October 2 board decision to withdraw the suspension of the license of the binary option broker OptionRally. Read more

FxPro gets Dubai license, to open office there – media

Oct 11 2017 10:25:02

FxPro, a well-established European forex and CFD broker, has obtained a license from the Dubai Financial Services Authority (DFSA) and will open an office in Dubai shortly, reports LeapRate. Read more

CMC Markets opens office in Shanghai – media

Oct 11 2017 08:46:29

CMC Markets, a major global forex and CFD broker, has opened an office in Shanghai, reports the site Finance Magnates. The broker already has an office in the capital Beijing, supported by the team in Australia.   The new office will help CMC Market expand and strengthen its presence in China. Read more

Harborx to showcase its in-house trading app at FinovateAsia 2017

Oct 10 2017 12:03:25

CySEC-regulated forex broker Harborx is among the selected presenters at FinovateAsia 2017, one of Asia’s premier fintech events to be held on November, 7-8 in Hong Kong. Read more

Tickmill jumps the Bitcoin bandwagon

Oct 10 2017 10:25:33

Hardly a day goes by, without a forex broker joining the Bitcoin mania and starting to instruments involving digital currencies. Today’s news is about the global NDD brokerage Tickmill, which announced it is adding the most popular cryptocurrency, Bitcoin, to its trading instrument list. Read more

Forex
de | cn | ru