Trading Point (Trading Point of Financial Instruments Ltd) is an officially licensed
forex broker regulated by the Cyprus Securities & Exchange Commission
(CySEC ).
Trading Point complies with the European Markets in Financial
Instruments Directive (MiFID) and operates under the Cypriot Investment
Services and Activities and Regulated Markets Law of 2007. This EU broker is registered with the FSA UK and the BaFin of Germany.
Operating financial services to the forex market
worldwide in 179 countries and 20 languages including English, Japanese, Spanish,
Arabic, Chinese, Russian, Malaysian, Indonesian and many more, Trading Point is
one of few brokers which offer fair trading in terms of market execution. The company holds No re-quotes on customer
orders which is a significant reason for investors to trade via the Trading
Point platform.
Comments and reviews online for this broker are extremely
positive, not only due to the market execution policy but the account
management by professional and experienced forex account managers.
Trading Point also has no minimum deposit requirement on real
accounts which is another major attraction to the platform. The broker stands confident, allowing
newcomers to introduce themselves to online forex trading with minimal initial
investment and risk.
3 main types of accounts are offered at Trading Point in
addition to the Non Expiring MT4 Demo Accounts which are extended to new and
existing customers with a virtual balance of $100,000.
Daily fundamental analysis reports covering all 3 major trading
sessions are available to all members, together with forex education material
and the primary offerings of the company in the forex and futures market.
Trading Point is regulated and authorized by the
following commissions and associations
- Financial Services Authority (FSA), UK
- Cyprus Securities and Exchange Commission (CySec)
- BaFin Germany
Trading Point MT4
Trading Point offers the MT4 for both demo account and real account trading. There are no limitations for the duration a
trader can use the demo version of the MT4.
A virtual balance of $100,000 virtual balance is given which can be
topped up by the tech team of the broker upon request so that the investor can
practice or simulate real account trading.
Trading Point Accounts
There are three types of MT4 accounts offered at Trading
Point
·
Micro – Maximum Deposit – $3,000
·
Standard – Maximum Deposit $100.000
·
Executive – No Limitations
All account types are treated with the same policy unlike other
brokers; as Trading point does not discriminate against account type and terms
of offerings. All account holders enjoy the same benefits which include a
personal account manager, 24/5 customer support, dealing desk access, telephone
trading and 3 daily forex market reports.
No Requote Policy
Trading Point delivers No re-quotes on customer orders
which is a key advantage of trading on the platform. This fundamental execution policy which is
offered by a handful of brokers publishes maximum and minimum spreads. This methodology is costly to the broker and fairer
plus more transparent for the investor.
At volatile times, when news releases are distributed and forex
rates are affected, this consequently means that most brokers adopt policies of
widening their spreads or freezing trading during those times to minimize
losses to the company.
Trading Point Spreads
Spreads at Trading Point are as low as 1 pip and are
averaged on 1.9 pips on EUR/USD when default variable spreads are used during
trading. Traders that trade predominantly during non volatile hours can select
to switch to fixed spreads upon request to the forex broker and therefore
balance out the fluctuations spreads that tend to be present at the less
critical trading hours.
Trading Point Leverage
Leverage on Trading Point Accounts can be selected by the trader
as the offerings by the broker range from 1:1 to 500:1 on Micro Accounts, 1:1
to 1:200 on Standard Accounts and 1:1 to 1:100 on Executive Accounts.
Forex Bonuses
Trading Point currently offers a 20% bonus with a maximum
ceiling bonus amount set at $2000 for the first deposit of every new account opened.
Additionally the broker offers a 10% loyalty bonus program which is very much
similar to a pip rebate program for returning customers.
Banking
Trading Point accepts deposits and withdrawals through all major credit
cards including Visa, Visa Electron, Solo, Switch and Maestro. In terms of
electronic wallets Trading Point accepts Moneybookers, Neteller, China Union
Pay, Liberty Reserve, Webmoney in addition to Wire Transfers.