Forex Time

After reviewing Forex Time, we assess it as a high-risk, likely fraudulent broker. Below we break down exactly why, and what your options are if you have already deposited.

Who is Forex Time?

Forex Time markets itself as an online trading and investment service. Its public site is presented at https://forextimeltd.com/. As with most operations of this kind, the polished front end conceals a lack of the basic protections a real, regulated broker is required to provide.

Is Forex Time regulated?

Forex Time provides no verifiable regulatory licence. An unregulated broker answers to no one: it can freeze withdrawals, invent fees, and disappear with deposits, all without consequence. This alone is reason enough to stay away.

Red flags we identified

• Account dashboards that show “gains” with no real market exposure
• Withdrawals reportedly blocked behind “taxes,” “fees” or account “upgrades”
• No verifiable licence from a recognised financial regulator
• No credible physical address or verifiable corporate record
• Aggressive “account managers” coaching clients to deposit

Our analysis

Forex Time claims to be owned and operated by ForexTime LTD, a leading brokerage in online financial trading established in 2011. However, when we checked its domain, we found it was newly created in 2022. So how could it start its business in 2011? It is a red flag here. Besides, Forex Time claims to be an authorized and regulated broker under a regulation issued by the Cyprus Securities and Exchange Commission (CySEC) with license CIF 185/12 and also registered with the Germany BaFin, FSCA of South Africa, and the Italy CONSOB. We indeed find match results to this company name in the above regulators' registries. But since BaFin, FSCA, and CONSOB do not provide the crucial regulatory details-domain. We can not be sure that this broker is the one operating under the trade name of ForexTime LTD. What's more, when we searched in CySEC, we found the CIF license does belong to a company named "Forextime Ltd." But the only approved domain of the licensed company is "www.forextime.com/eu" instead of the one used by Forex Time (https://forextimeltd.com/). That means Forex Time may be a clone firm that falsely used the regulatory information of a CySEC-regulated firm. In addition, the Commissione Nazionale per le Società e la Borsa (CONSOB) added Forex Time to warning list on Mar 23, 2023, believing this broker is offering financial services illegally. The truth is, Forex Time is not under valid regulation by any regulators to do forex. Investors' funds in this broker are unsafe and cannot be protected by any law. Therefore, it is a scam.

Can you recover money lost to Forex Time?

If you have deposited with Forex Time, do not pay any further “fees” to withdraw — that is part of the trap. Funds sent to operations like this can sometimes be traced on-chain and pursued through the exchanges and processors that received them. Whether recovery is realistic depends on how you paid and how quickly you act.