Ex-Alpari execs founded ForexTime in New Zealand two years ago.
New Zealand based ForexTime has just received a Cyprus Investment Firm license, and is planning on expanding its marketing activities in Europe. ForexTime was set up in New Zealand two years ago by former Alpari executives from Russia. ForexTime also, somewhat interestingly, has an office in Abuja, Nigeria.
In the meantime, as of Sunday ForexTime has taken down its website, as it moves its Asian business to a new domain (www.forextime.com.nz), and will reassign the www.forextime.com site to its newly-launched CySEC-regulated European business. Although the website is down. existing ForexTime customers can still trade.
ForexTime is an MT4 broker, doing most of its business currently in New Zealand, Nigeria, Australia and the Far East.
For more on the global Forex industry see the LeapRate-Dow Jones Forex Industry Report.