Trading Point of Financial Instruments is a Cyprus based online forex broker licensed by the CySec and authorized by the FSA UK and the BaFin Germany. The broker complies with MiFID standards and is licensed to operate financial services worldwide. The holding company was founded in 2009 and currently maintains its headquarters in Cyprus from where it operates its services to global investors.
Although a relatively newcomer to the online forex trading marketplace Trading Point has managed to distinguish itself as a leading online forex broker as it adopts a very much transparent execution policy which enhances no re-quotes on customer orders; something that traders seem to be appreciating as reviews and comments on some of the leading forex portals and forex forums are recording vey, very positive feedback in regards to both overall treating of customers and moreover in regards to a leading customer service team which it enhances to distinguish itself amongst competitors.
Trading Point caters a high end website which is currently offered in 5 languages which include English, Spanish, Arabic, Chinese and Russian through which returning customers and potential investors are extended the opportunity to find daily fundamental analysis reports which cover all 3 major trading sessions in addition to forex education material and the primary offerings of the company in the forex and futures market.
Accounts at Trading Point are offered in 3 major types in addition to the Non Expiring MT4 Demo Accounts which are extended to new and existing customers with a $100,000 virtual balance. Initial deposit on real accounts has absolutely no minimum requirements which is a major attraction point and moreover a signal of confidence from the company which is allowing newcomers to introduce themselves to online forex trading with a very small initial investment which will keep them safe from costly mistakes.
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
In addition you should check on the website of the regulator for any complaints against the broker as some regulators (i.e. the FSA) post all cases online.
Trading Point MT4
Trading Point currently adopts its own version of the MT4 which is offered in basic Desktop Version and Mobile Version which is supported by Windows based smart phones. Mac users will have to enable a Windows based installation on their computers from which they can switch to when trading as the developing company of the Metatrader currently solely offers its platforms in downloadable format due to stability which therefore have a Windows prerequisite limitation. However the MT5 which has currently been released in beta is expected to soon circulate in Non Download format which will perform in the same state of the art manner in which the current version of the popular online trading software is known to operate.
Trading Point offers the MT4 in both demo and real trading environment and does not adopt absolutely any limitations in the duration a trader can use the demo version of the MT4 which is offered with a $100,000 virtual balance which can be topped up by the tech team of the broker upon request for reasons of practicing or simulation with trading environment.
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
Impressively all types of accounts are treated with same policy unlike other brokers as the particular company does not possess any discrimination against account type and terms of offerings. All account holders enjoy the same benefits which include a personal account manager, 24/5 customer support, access to the dealing desk, telephone trading and 2 daily forex market reports.
No Requote Policy
One of the key and most advertised characteristic of the particular forex broker is that it adopts a very, very differentiated execution policy which publishes its maximum and minimums spreads and additionally guarantees NO-Requoting of customers orders, a methodology which only a handful of brokers currently adopt as it has proved to be very costly to adopt although much more fair to the trader and much more transparent.
It is important to stress that a No-Requotes policy is very much costly to the broker at times of high volatility including times of news releases which are usually times when forex rates tend to be very much volatile which consequently means that most brokers adopt policies of widening their spreads or freezing trading during those times to minimize losses to themselves.
Trading Point Spreads
Spreads at Trading Point come as low as 1 pip and are averaged on 1.9 pips on EUR/USD when default variable spreads are used during trade. 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 tend to present at non major 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.
Trading Point currently offers a 20% bonus with a maximum ceiling bonus amount set at $2000 for the first deposit of every new account issued. Additionally the broker offers a loyalty bonus program which is very much similar to a pip rebate program for returning customers.
Trading Point Managed Accounts
Trading Points offers managed accounts on request.
Mobile Trading Accounts
Trading Point supports mobile trading on mobile devices provided they are Windows or WAP based and therefore MT4 compatible.
Funds Deposit and Withdrawal
Trading Point is a recognized and authorized Paypal broker which means that in addition to its options to deposit and withdraw with Neteller, Moneybookers and major credit cards including Visa, Visa Electron Solo and Maestro it allows direct deposits and withdraws through Paypal.
Moreover the particular forex broker adopts a generous policy which reimburses fees deducted by Paypal during first deposit of a new investor within 24 hours from the time of the actual deposit.
Trading Point Review
Trading Point is a forward thinking forex broker which we very much recommend with confidence as we feel they adopt a very, very transparent business plan which is targeting the long term success and is in full support to the brokers motto which is “You are Never Left Alone”. Spreads are competitive, leverage is very much in the high segment of the industry and customer service has been tested on several occasions and is of Class A. Deposits and withdrawals have a reputation across forex forums to be flawless as the particular broker is highly rated across the border.