FXTM updates its client agreement after launch of UK division

FXTM updates its client agreement after launch of UK division

- in All News, Forex Brokers

Shortly after announcing the expansion of its business and the opening of an office in London, the Cyprus-regulated forex broker ForexTime (FXTM) has informed its clients of updates to the client agreement. It is made necessary by the establishment of the Forextime Ltd. UK Division of the company and mostly deals with including the new division in the term “FXTM”.

Here are the updates to the FXTM client agreement:

a) The definition of “FXTM” has been amended. “FXTM” shall mean Forextime Ltd, registered in the Republic of Cyprus and regulated by CySEC with CIF Licence number 185/12, and the Forextime Ltd, UK Branch, registered with the FCA with reference number 600475.

b) Reference to “Forextime Ltd UK Branch” has been inserted as follows: “Forextime Ltd, UK Branch is registered with the UK Financial Conduct Authority (FCA) and with Number 600475. Forextime Ltd, UK Branch has its principal business address in 3rd floor, 5 Lloyds Avenue, London EC3N 3AE”.

c) The definition of “Website” has been amended. “Website shall mean the website(s) operated by FXTM, including without limitation the websites at www.forextime.com/eu, www.forextime.co.uk/eu and www.forextime.com.cn/eu/zh or any such other website or sub-domain as FXTM may maintain from time to time for access by Clients”.

FXTM notes that it does not require further action form their clients, but asks them to nevertheless read them and understand them. The changes have automatically taken effect on April 18, 2016.

FXTM’s offers trading in more than 100 instruments, including forex, spot metals, and contracts for difference (CFDs). It serves retail and institutional clients alike. The broker has adopted the world’s most popular trading platforms – MetaTrader 4 (MT4) and MetaTrader 5 (MT5). Its clients can choose to open Standard and Cent accounts, or one of four ECN account types.

The broker is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC), which allows it to operate in and target citizens of all EU member states. It also has a registration with UK’s financial regulator FCA.

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