FXTM obtains UK FCA license
Adding to CySEC and FSB licenses, retail foreign exchange broker Forextime (FXTM) announced that it has obtained the UK FCA license which allows it to service a broader market, as well as
Adding to CySEC and FSB licenses, retail foreign exchange broker Forextime (FXTM) announced that it has obtained the UK FCA license which allows it to service a broader market, as well as honor its commitment to being fully localized in key financial regions.
Ready to operate in the coming weeks under FCA license no. 777911, Martin Couper, FXTM’s Director of Forextime UK Limited, commented on the license granted by the UK’s Financial Conduct Authority (FCA): “In an environment where regulators are putting compliance and client communications in financial services under the spotlight, we are extremely proud to have met the high standards required by the FCA.”
Already regulated by the Cyprus Securities and Exchange Commission with CIF license number 185/12, by the Financial Services Board (FSB) of South Africa, with FSP No. 46614, and by the International Financial Services Commission of Belize with License numbers IFSC/60/345/TS and IFSC/60/345/APM, FXTM can use the FCA badge as a symbol of quality with the highest standards which are required to hold such a license.
FXTM has documented exceptional growth in the last year; with its client base growing by 77% year on year and active clients growing by 64% in the same period. The company’s client-centric approach and outstanding customer service are key to its reputation within the forex industry.
While already holding an EU passport through the CySEC license, the FCA license may improve FXTM’s capability of acquiring customers in the European Union and, especially, in the UK. Moreover, as Brexit takes form, EU passports may fall through in a matter of years. Brokers with no FCA license could be left out from the UK market, which would not be the case of FXTM.
UK traders will be able to enjoy FXTM’s standard of service and trader education with the peace of mind that comes with knowing that they are dealing with a fully compliant and internationally regulated broker.
Reporting by Rick Steves. Filed 6 February 2018, 17:54 GMT.
Senior Reporter, Regulation and Fintech
Rick Steves has seen business and economics through many lenses. He joined the financial services industry in 2009, and has been a financial journalist since 2011.
