Score
Saint Vincent and the Grenadines
|
2-5 years
| https://www.fxpoint.co/index.html
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LicensesNo valid regulatory information, please be aware of the risk!
Saint Vincent and the Grenadines
fxpoint.co United States
VIP is not activated.| FXPOINT Review Summary | |
| Founded | 2-5 years |
| Registered Country/Region | Saint Vincent and the Grenadines |
| Regulation | Unregulated |
| Market Instruments | Forex currency pairs |
| Demo Account | N/A |
| Leverage | N/A |
| Spread | 0.2 pips |
| Trading Platform | Webtrader |
| Min Deposit | $3000 |
| Customer Support | Email: support@marketstrade.co.ukTelephone number：14388068855 |
FXPOINT is the trading name of Grey Matter Enterprise Ltd, purported to be a forex broker registered in Saint Vincent and the Grenadines, which claims to offer clients a 0.2 point floating spread on the Webtrader platform through five different live account types.
| Pros | Cons |
| 5 account types to choose from | Lack of Regulatory Oversight |
| Website inaccessible | |
| Extremely high minimum deposit ($3,000) |
FXPOINTis not regulated by any financial institutions.
FXPOINT offers traders the opportunity to trade forex currency pairs.
| Tradable Instruments | Supported |
| Forex currency pair | ✔ |
| Stocks | ❌ |
| Currencies | ❌ |
| Crypto currencies | ❌ |
| Indices | ❌ |
| Bonds | ❌ |
| Futures | ❌ |
FXPOINT claims to offer five types of trading accounts - Explorer, Basic, Silver, gold, and Platinum - with minimum initial deposit requirements of $30,00, $10,000, $50,000, $100,000, and $250,000, respectively. In contrast, licensed brokers allow initial accounts with a minimum deposit of $100 or less.
The spread of EUR/USD delivered by online traders on FXPOINT is 0.2 pips.
FXPOINT chose Webtrader as its trading paltform.
| Trading Platform | Supported | Available Devices | Suitable for |
| Webtrader | ✔ | Windows, MAC, IOS, Android | Investors of all experience levels |
FXPOINT's financing methods are wire transfer, iDeal and Cashier. Minimum initial deposit requirements are up to $3,000.
The fact that FXPoint is an offshore and unlicensed broker attracts attention. However, its proprietor is well-known throughout Europe and has been accused of fraud on multiple occasions. As a result, we've chosen to expose this scam and demonstrate why you shouldn't trade with FXPoint or any other brand owned by the same company.
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