We recently reported that the Austrian FMA issued an investor warning against the FXTime broker scam (www.fxtime.io). The German BaFin ordered the scam to cease its unauthorized proprietary trading activities immediately. While no operator is provided on the website, we found in the Terms & Conditions that Estonian law applies. As payment processors behind the BoxiPay cashier, we have once again discovered PayNetEasy and PayCent. Deposits from victims are currently only possible via credit and debit cards. Do not fall for the scam.
The FXTime scam is not difficult to spot. It is a typical white-label scam. Therefore, victims should not fall for it. However, we know that fraudulent marketing campaigns and aggressive boiler room agents often cause victims to deposit. Stay far away from FXTime and other scams, and you will save yourself money and frustration.
