Select your language

FXT Brokers, 365 Road Avenue, London NW8 6LS

Warning from the Financial Market Authority in Austria regarding FXT Brokers

The Austrian Financial Market Authority (FMA) can inform the public in accordance with Section 4 (7) of the Banking Act that a named natural or legal person is not authorized to carry out certain banking transactions (Section 1 (1) BWG), provided that this person has given cause and information the public is necessary and proportionate to possible disadvantages for the person concerned.

With an announcement in the official gazette of the Wiener Zeitung on January 21, 2021, the FMA therefore notifies that

FXT Brokers (Investor warning in Austria)

Address: (alleged Headquarters): 365 Road Avenue, London NW8 6LS, England ; Bahnhofstrasse 100, Zurich 8001, Switzerland

Telephone: +442038856546, +41445514196, +34951820079

Email: support[@]; compliance[@]; vip[@]


is not authorized to conduct banking business in Austria that requires a license. The provider is therefore not permitted to conduct commercial trade on his own account or on behalf of a third party (Section 1 (1) no.7 BWG).

Method of the FXT Brokers, various consultants involved

FXT Brokers trading platform for cryptocurrencies, CDF system

The FXT Brokers is said to be a new trading platform for cryptocurrencies, which is to be based on the CDF system (Contracts for Difference). Mainly „trading newbies“ are addressed by the FXT Brokers. A free account is offered as well as a demo mode where you can apparently test everything before you start „trading“. The first contact is made via e-mail or telephone. If you want to close your account due to a high loss of money, for example, the responsible analyst will try and change your mind with seemingly reputable informations and arguments. For English speakers, the most frequent contact is often with „Simon Cole“ and „Daniel Alford“.

According to the information provided by FXT Broker, the website is owned and operated by FXT Brokers with the registered address Bahnhofstrasse 100, Zürich 8001, Switzerland. However, as is often the case, the registrars of the website are hidden via „privacy providers“ such as WhoisGuard:

Domain name:
Registry Domain ID: 2549873027_DOMAIN_COM-VRSN
Registrar WHOIS Server:
Updated Date: 0001-01-01T00:00:00.00Z
Creation Date: 2020-07-31T11:47:24.00Z
Registrar Registration Expiration Date: 2021-07-31T11:47:24.00Z
Registrar IANA ID: 1068
Registrar Abuse Contact Email:
Registrar Abuse Contact Phone: +1.6613102107
Registry Registrant ID:
Registrant Name: WhoisGuard Protected
Registrant Organization: WhoisGuard, Inc.
Registrant Street: P.O. Box 0823-03411
Registrant City: Panama
Registrant State/Province: Panama
Registrant Postal Code:
Registrant Country: PA
Registrant Phone: +507.8365503
Registrant Phone Ext:
Registrant Fax: +51.17057182

Financial products offered by the company include Contracts for Difference (CFDs) and other complex financial products. Trading CDFs carries a risk as leverage can be both beneficial and disadvantageous. As a result, FXT Brokers CFDs may not be suitable for all investors as all of the capital invested may be lost.

It has also already been reported that FXT Brokers call people, which then refused to use the platform and FXT Brokers then harassed them for months with calls from over 20 different telephone numbers. In addition to that, other clients wanted to delete the account they had created themselves, whereupon their own password was no longer accepted.

In the course of the transactions, a relationship of trust is established through various measures and various „trading offers“ are proposed and discussed in detail and the customer is „advised“ by apparent specialists. Corresponding profits are then apparently booked in the deposit. After the first transaction, the account balance is often doubled in order to convince the client of their trading platform and to direct them to further, higher transactions.

Cryptically formulated risk information and loss information on the website and the terms and conditions as a typical approach

Typical for these as well as many other so-called „brokers“ is the website of an apparently extremely successful company, which on the one hand stands for massive profits and on the other hand is combined with cryptic references to risk and loss of capital. Unfortuantely, this method of the providers often has the consequence that initiated criminal proceedings are often incorrectly terminated with the reference to this risk information and thus the apparent lack of fraudulent intent. Such companies also make it a rule in extrajudicial negotiations to make references to these mostly illegal informations and terms of conditions, which, however, are usually always in extreme contradiction to European and Austrian consumer protection regulations and other provisions of, among other things, securities trading etc.

Recommended procedure before concluding a contract

If you are not 100% sure about the seriousness of such providers, you should conduct intensive research before contacting such trading platforms and take specialist advice from consumer protection organizations or sepcialized lawyers in advance. Potential customers should keep in mind that much of the information that is easily accessible and available on the internet has not been checked or verifide and therefore it cannot be ensured that experience reports or information actually come from reputable sources and correspond to the truth.

Procedure after the conclusion of the contract and after a transfer / after losses

Our law firm regularly handles national and international criminal and fraud cases and has already succesfully supported a large number of clients in civil and criminal law. When it comes to securing assets and freezing accounts, it is recommended that you seek help as soon as possible.

> Avoid Fraud, Rip Deals, Investment Frauds: Protect Your Money

Your Attorneys in Europe, Austria, Law Experts Attorneys Europe, Austria - In Cooperation With Our Partner Firms We Provide You With Legal Advice Worldwide.

The contents of our website, such as text, graphics, images, information and other material contained are for informational purposes only. The information provided does not make any statement about proceedings, clients, opposite parties, claims et cetera and is of a general nature. With regard to the listed companies, persons or facts, therefore, only general and non-binding information can be made available which does not permit any statement as to any pending or already initiated proceedings or to what extent the enforcement of a legal claim can be successful or the claim itself justified. The information given is therefore general and non-binding legal information and information on situations that do not claim to be current, complete and correct. All non-binding information is provided solely as a public and free service and does not constitute a client or advisory relationship. Our website contains unsealed information and articles on many legal topics; however, no warranty whatsoever is made that any of the articles are accurate. There is absolutely no assurance that any statement contained in an article touching on legal matters is true, correct or precise. Thus, the information is provided "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, completeness, legality, or reliability of the information contained on this website. Law varies from place to place and it evolves over time, sometimes very quickly. The legal information provided is of a general nature and unsealed and cannot substitute an assignment of an attorney who can apply it to the particular circumstances of your case. We shall not be liable for any loss or damage of whatever nature (direct, indirect, consequential, or other) whether arising in contract, tort or otherwise, which may arise as a result of your use of (or inability to use) this website, or from your use of (or failure to use) the information on this site. All materials posted on this website are protected by the copyright laws in Austria and in foreign countries.

Legal Information & Proceedings - FXT Brokers, 365 Road Avenue, London NW8 6LS