A notice on the EU website notes that the service was terminated on 31 December 2023.
The Cypriot entity stopped offering services to retail clients in February 2021.
Andrey Dashin, Founder of Alpari and FXTM
Andrey Dashin’s brokerage brand ForexTime (FXTM) has renounced its Cyprus Investment Firm (CIF) license and “ceased all operations from 31st of December 2023” under the Cypriot entity.
FXTM Exits Europe?
A notice displayed on the EU website of FXTM (forextime.com/eu) confirmed that the cessation of the services came “as per internal management decision.”
A notice on forextime.com/eu (it can be accessed only from the EU)
The company already terminated its services to retail clients in the EU in February 2021. In the earlier email to the retail customers, the company explained that it will provide its services in the EEA region exclusively for professional clients and institutional traders. However, the latest development indicates that the company has entirely pulled off its services from the EU.
The regulatory registry of the Cyprus Securities and Exchange Commission (CySEC) shows that the license offered to Forextime Ltd is currently “under examination for voluntary renunciation of the authorization.” The Cypriot obtained the license in December 2012.
Status of Forextime Ltd's CySEC license
Finance Magnates approached Exinity (the parent of FXTM) for the official take on the termination of services under the Cyprus license but did not receive anything as of press time.
Andrey Dashin’s Brokerage Empire
The ForexTime or FXTM brand is controlled by the broader Exinity Group, which offers retail trading services under the Alpari brand. The brands were consolidated under the Exinity Group in 2020. The Exinity website mentions that the “trading brands FXTM and Alpari currently serve over two million clients from multiple regulated entities, offering our services in 18 languages to clients in 150 countries.”
Dashin operates his trading industry empire with several legal entities and websites. The ForexTime (FXTM) brand is licensed in the United Kingdom and Mauritius. Exinity UK Ltd is the entity regulated by the UK’s Financial Conduct Authority while Exinity Limited is one licensed by Mauritius’ Financial Services Commission and operates Alpari International.
Another entity, Alpari (Comoros) Ltd, is noted to be regulated by the Mwali International Services Authority. Other regulated entities of Dashin’s empire are in Kenya, the UAE, and a few other jurisdictions.
Meanwhile, the UK unit, which only offers services to professional and institutional traders, reported a revenue of about £1.68 million, a marginal year-over-year decline, while its pre-tax profits jumped 1,802 percent to £319,251. Over the years, the UK regulator flagged several clones of ForexTime (FXTM).
Andrey Dashin’s brokerage brand ForexTime (FXTM) has renounced its Cyprus Investment Firm (CIF) license and “ceased all operations from 31st of December 2023” under the Cypriot entity.
FXTM Exits Europe?
A notice displayed on the EU website of FXTM (forextime.com/eu) confirmed that the cessation of the services came “as per internal management decision.”
A notice on forextime.com/eu (it can be accessed only from the EU)
The company already terminated its services to retail clients in the EU in February 2021. In the earlier email to the retail customers, the company explained that it will provide its services in the EEA region exclusively for professional clients and institutional traders. However, the latest development indicates that the company has entirely pulled off its services from the EU.
The regulatory registry of the Cyprus Securities and Exchange Commission (CySEC) shows that the license offered to Forextime Ltd is currently “under examination for voluntary renunciation of the authorization.” The Cypriot obtained the license in December 2012.
Status of Forextime Ltd's CySEC license
Finance Magnates approached Exinity (the parent of FXTM) for the official take on the termination of services under the Cyprus license but did not receive anything as of press time.
Andrey Dashin’s Brokerage Empire
The ForexTime or FXTM brand is controlled by the broader Exinity Group, which offers retail trading services under the Alpari brand. The brands were consolidated under the Exinity Group in 2020. The Exinity website mentions that the “trading brands FXTM and Alpari currently serve over two million clients from multiple regulated entities, offering our services in 18 languages to clients in 150 countries.”
Dashin operates his trading industry empire with several legal entities and websites. The ForexTime (FXTM) brand is licensed in the United Kingdom and Mauritius. Exinity UK Ltd is the entity regulated by the UK’s Financial Conduct Authority while Exinity Limited is one licensed by Mauritius’ Financial Services Commission and operates Alpari International.
Another entity, Alpari (Comoros) Ltd, is noted to be regulated by the Mwali International Services Authority. Other regulated entities of Dashin’s empire are in Kenya, the UAE, and a few other jurisdictions.
Meanwhile, the UK unit, which only offers services to professional and institutional traders, reported a revenue of about £1.68 million, a marginal year-over-year decline, while its pre-tax profits jumped 1,802 percent to £319,251. Over the years, the UK regulator flagged several clones of ForexTime (FXTM).
Arnab is an electronics engineer-turned-financial editor. He entered the industry covering the cryptocurrency market for Finance Magnates and later expanded his reach to forex as well. He is passionate about the changing regulatory landscape on financial markets and keenly follows the disruptions in the industry with new-age technologies.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Executive Interview | Jas Shah | FMLS:25
Executive Interview | Jas Shah | FMLS:25
Interview with Jas Shah
Builder | Adviser | Fintech Writer | Product Strategist
In this episode, Jonathan Fine sat down with Jas Shah, one of the most thoughtful voices in global fintech. Known for his work across advisory, product, stablecoins, and his widely read writing, Jas brings a rare combination of industry insight and plain-spoken clarity.
We talk about his first impression of the Summit, the projects that keep him busy today, and how they connect to the stablecoin panel he joined. Jas shares his view on the link between fintech, wealthtech and retail brokers, especially as firms like Revolut, eToro and Trading212 blur long-standing lines in the market.
We also explore what stablecoin adoption might look like for retail investment platforms, including a few product and UX angles that are not obvious at first glance.
To close, Jas explains how he thinks about writing, and how he approaches “shipping” pieces that spark debate across the industry.
Interview with Jas Shah
Builder | Adviser | Fintech Writer | Product Strategist
In this episode, Jonathan Fine sat down with Jas Shah, one of the most thoughtful voices in global fintech. Known for his work across advisory, product, stablecoins, and his widely read writing, Jas brings a rare combination of industry insight and plain-spoken clarity.
We talk about his first impression of the Summit, the projects that keep him busy today, and how they connect to the stablecoin panel he joined. Jas shares his view on the link between fintech, wealthtech and retail brokers, especially as firms like Revolut, eToro and Trading212 blur long-standing lines in the market.
We also explore what stablecoin adoption might look like for retail investment platforms, including a few product and UX angles that are not obvious at first glance.
To close, Jas explains how he thinks about writing, and how he approaches “shipping” pieces that spark debate across the industry.
