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’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.”
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.
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.”
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.
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.
FXCubic Integrates Devexperts' DXtrade to Enhance Broker Solutions
Hannelé De Necker, CEO, IFX Brokers | FMAS:24
Hannelé De Necker, CEO, IFX Brokers | FMAS:24
1 week to go until FMAS:24 kicks off and we couldn't skip our interviews with some of this year's sponsors 🤩 Starting off strong with Hannelé De Necker, CEO OF IFX Brokers.
See you there!
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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1 week to go until FMAS:24 kicks off and we couldn't skip our interviews with some of this year's sponsors 🤩 Starting off strong with Hannelé De Necker, CEO OF IFX Brokers.
See you there!
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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FMAS:24 | Sneak Peak
FMAS:24 | Sneak Peak
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa