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US traders Interest rate on funds Bonus offers Trading contests Free education Personal manager Trading by telephone MAM accounts Segregated accounts Managed accounts Affiliate program Islamic accounts available| 5.4/10 (2028 votes) | |
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| Company | Trading Point of Financial Instruments Ltd. |
| Founded in | 2008 |
| Online since | 2009 |
| Offices in | Cyprus |
| Payment options | Show payment optionsHide |
| Demo platforms |
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| Account currencies | Show account currenciesHide |
| Regulated by | CySEC, 120/10 FSA (UK), 538324 |
| Website available in | Show website languagesHide |
| Support available in | Show support languagesHide |
| Support methods | Callback Live chat Phone Skype |
| Trading server time zone | GMT |
| Conditions for VIP traders | Coming soon. |
| Minimum account size | $5 | ||||||||
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| Minimum position size | 0.01 lot | ||||||||
| Spread type | Variable | ||||||||
| Typical spread on EUR/USD, pips | 1.9 | ||||||||
| Minimum spread on EUR/USD, pips | 1 | ||||||||
| Scalping | Allowed | ||||||||
| Expert advisors | Allowed | ||||||||
| Trading instruments |
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| Trading platforms | MetaTrader 4 MT4 Web Trader (XOGEE) MT4 Mobile (XOGEE) |
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| Digits after the dot in quotes | 5 | ||||||||
| Margin call level | 50% | ||||||||
| Stop-out level | 5% | ||||||||
| Number of currency pairs (of which exotic) | 54 (20) |
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106 reviews of Trading Point are presented here. All reviews represent only their author's opinion, which is not necessarily based on the real facts.
This company is not serious. I am Swiss German and on their German page they had a swap of plus 2.75 points on EUR/CHF. They changed that about weeks ago, did not inform their customers and just changed it to minus. Today May 4th the changed it.
Then the value of EUR/CHF is not correct. Very often they are up to 70 points below the reality!!!!Answer from TP to my chat: from April 30.
Loren Paulauskas | 21:17
We didn't manage to change the rates in all the languages sir but we will
I work with 3 different brokers and this one is by far the worst. The most expensive also. I will cancel my account. Watch out!!!!!
i am using trading point from last 3 months and have found them to be very good and honest,,their customer support/live chat is very courtious and helpfull,,they provide u instant bonus of 20% on ur first deposit and when ever u deposit funds they r immediatley reflected into ur acct with in seconds,,,i must say an excellent broker
Hello,
Trading last 2 weeks with this broker. As a liberty reserve accepting broker, they are really very good.Their slippage, executions others technical issues are very low. But I think if their back office support is little more fast then they are may be Num.1 broker by Bangladeshi peoples choice. Forex market is just beginning in Bangladesh. And people's also are so new for forex industry. If they got good help and guide by support people, they will become an experience trader soon.
And as a serious trader I would like to say, please do not accept or interested in any promotional offers, bonuses from third party.
Always check the official site. Do what ever you want to do directly with them. You may got some experience which will be very helpful for your next days forex trading.
Thanks
Kamal
Hi Chris,
Many thanks for your email and response here.
I would like to take back my review as I have realised my error. Yes, I am very new to Forex trading and I am happy to admit that I still have not understood the basics, therefore, my previous review is void and retracted!
I would like to add that the TP customer service is one of a kind! I spend 5 CONSECUTIVE HOURS speaking with customer services and another 3 consecutive hours the following day training and learning the basics. Cant say much for other brokers ie AccentForex - waited 2 hours for a rep to connect with me in Live Chat and in the end, I just gave up!
One thing I would like to point out is instruments being quoted to 5 decimals. I know that before, TP had instruments quoted to 4 decimals so 1 pip would be 0.0001 (which is also 1 point). However, now that the 5 decimal quoting system has been introduced, 0.0001 turns into 0.00010.
In finance, a percentage in point (pip) is the smallest commonly quoted change of an exchange rate of a currency pair so in other words, its the smallest price change that a given exchange rate can make - so if the instrument is now 0.00001, isn't that the new definition of a pip? Technically, there is no such thing as a fraction of a pip, no?
For example, if I trade 1 standard lot and make a profit of 20 pips, that would imply a profit of 20. But according to the fractional pip evaluation, I would make a profit of 2 pips, meaning a profit of 2 pips which is not the case. A change of 0.00001 would bring a change of 1 just as a change of 0.00020 would bring a change of 20 for 1 lot trade.
I now realise its just a "marketing term" but nevertheless, Im learning which is the main important thing! :)
Warm regards,
Sam
This broker is regularly hunting your stops by spikes that just kiss them, there is only one likely explanation: They really are a bucketshop !!! Don’t involve with them !!! You deserve better !!!
Chris A. Zacharia – Official Representative of Trading Point of Financial Instruments Ltd.
Dear Sam,
Thank you for your review and additionally thank you for noting the Pro’s of Trading Point however it seems you have a wrong understanding of trading terms and policies which have caused your worries about what you have noted as cons above.
Firstly on the representation you show on EURUSD spread is 2.5 pips and not 25 pips which is totally Impossible at this particular time in time.
Please note that spreads at Trading Point are quoted on the 5th decimal place and are additionally variable according to market liquidity therefore averaging at 1.9 pips and going as low as 1 pip at very liquid times.
"Sell" orders are being opened at "bid" price and closed at "ask" price , "buy" orders being opened at "ask" price and closed at "bid" price. On the chart you can see the graphical representation of the " bid" price.
In order to display the "ask" line you need to right click on chart go properties/common and "tick" the "show ask line" option (please make sure that color settings of ask line need to be different that the color of background).
With regards to your screen shot which you uploaded and I have made some notes on an re-uploaded here http://www.trading-point.com/images/TP-screen.png I would like to point that the "ask" price (closing price of "sell"orders ) at that moment (20:27:51) was 1.32380 the "bid" price at that moment was 1.32357.
Your take profit of that specific order has been set at 1.32360 , therefore , it should trigger when "ask" price reaches that level.
That happened at few minutes later (20:40:58) the "bid" price reached 1.32335 and "ask" price reached 1.32358 , first time crossed your T/P level (1.32360) and ,as result the trade has been closed.
As for the stop/limit levels , please note that those are specific to all the instruments and are noted here http://www.trading-point.com/download/docs/spreads-micro.pdf ,EUR/USD is set up at 40points (4 pips) , which is twice an average spread on this instrument.
I hope all the above has cleared things for you, if you might need additional help or clarifications in regards to online trading, forex or the MT4 platform you can contact me directly at chris@trading-point.com and I will be glad to arrange a session with one of our account managers before you decide to start trading with real money.
I would advice you take the time to understand the basics of forex trading to avoid any future problems and possible losses with real funds.
Regards,
Chris A. Zacharia - Official Representative of Trading Point of Financial Instruments Ltd.
Ive been trying to find a good broker with MT4 platform and had done alot of reasearch/read alot of reviews. Out of all of the MT4 brokers I came across, TP appeared to have the best ratings so decided to open a demo account to get more accustomed to MT4. Even though I havent been trading in the industry for very long, Ive done extensive research on trends, markets, indicators etc and I also have accounts with other brokers it Option Bit, eToro.
PROs:
Operators at live chat are very helpful and supportive.
No requotes/slippage.
CONs:
Wide spreads (EURUSD is 25 pips!)
SL and TP have to differ from market price by AT LEAST 40 pips (is this normal???)
Orders dont close as they should.
Eg
Put in an order to SELL EURUSD
Executed @ 1.32396
SL @ 1.32441
TP @ 1.32360
The market price went past my TP TWICE and my order was still active. I have a screen shot here (look at the last 3 candles: http://s154.photobucket.com/albums/s275/destinyscheeks/junk/?action=view¤t=TradingP.jpg
This was the SECOND time this happened! First time round, my order closed when prices closed past my TP and then started to increase.
Very disappointed and would NOT RECOMMEND! Im fortunate I didnt loose out on any real money!
Great Broker. Never had any problems with withdrawals or anything. Customer support was courteous and prompt. Platform was with fast execution and small slippage. They no longer take US clients, so must go elsewhere
Chris A. Zacharia – Official Representative of Trading Point of Financial Instruments Ltd.
Dear Mr. Abdul Quddus Chowdhury,
1. In regards to regulation; please be noted that we have not been regulated lately but have been always operational as an EU regulated broker; licensed by CySec and registered with all major EU financial services including the FSA.
2,3. I cannot check the route of your review since we do not control this website; your review has been presented identical 2 times under 2 names; however if you claim someone else has copied it from you I will go with your word.
4. The email you received did not oblige you to leave a positive review; it asked you to provide answers to a survey and vote for Trading Point If you are happy with Trading Point in order to claim a $25 no deposit bonus with no obligation to depsoit. I don’t understand why you have been insulted with this offer. A regulated forex broker offers you $25 no deposit bonus for your views and your vote if you are happy; I don’t understand why this is a major issue to you;
You state “Yes, I am again saying this type of approach is CHEATING.” Mr. Abdul Quddus Chowdhury if you do not want to claim the offer and consider the offer cheating simply don’t claim it; other people have appreciated it; if you are not willing to provide your feedback and provide a vote for Trading Point please pass by the offer and select a broker that pleases you better.
The word cheating is a very rough word and is NOT the appropriate word to be using to be expressing your views about a promotion you did not like.
Thank you,
Chris A. Zacharia – Official Representative of Trading Point of Financial Instruments Ltd.
Dear Mr. Chris A. Zacharia
Thanks for your reply.Please be noted that,
1. I have made a neutral review of your broker. I have posted on the very first the good things that you are providing. Regarding the regulation, I just visited some other reviews and found it is not regulated ( may be because the preview was published long time before). I checked and found that it is now regulated in FSA. Sorry for my unintentional mistake.
2. Mr Zulfiker Ali and me are not the same person and I did not sent the other review in the name of Zulfikar Ali. Please check the IP number or routing path. I guessed Mr Zulfiker Ali may have got the same proposal and copied my preview. I can challenge that I did not made the same preview in the name of Mr. Zulfiker Ali.
3. Without prior investigation, you have mentioned that both preview came from the same person. This is the way to make my preview unauthentic. I again strongly protesting against the allegation of the 2 same preview came from the same person.
4. ( Comment on your point 1) : Your statement is not right, the mail came with the offer that you will have 25$ no deposit bonus if you make a good review and make it very good ( 10 stars). I have the mails. If you want proof I can publish it here and it will affect your credibility very badly.
5. (Comment on your point 2): May be you are right. But I am pretty sure all of them have done it to get the bonus as I told earlier. It is not a very prudent marketing policy to act like this, why I will make a good review to get a bonus? There are many brokers who are giving NO DEPOSIT BONUS from 5$ to 200$. I only saw the difference here. This will make your broker less credible. The greedy people may do this as you wanted but at the same time potential client may not be willing to do this. I request you not to make lame excuses to stand on your position but to review and think twice about your offer.
6. ( Comment on your point 3): The flow of the traffic is saying the fact. After my review , no more reviews came in 6 days.
Yes, I am again saying this type of approach is CHEATING. People will automatically review positive if you are good,negative comments will be surpassed by good numbers of positive comments. It is sure that one broker can not please all and for that, some negative comments can also come in case of good and credible brokers also.
You said I am debating with my own reviews. Does it mean you dont want good words from me? I have made my review neutrally. I did not make any negative comments except the promo offer.( it was unintentianal mistake about the regulation) Even I did not request anyone to think twice before going to the broker. I am not your enemy, brother, rather I have told the fact. Again I am requesting , please think twice about the promotional offer and make it open and unconditional.
Thanks again.
Chris A. Zacharia
Official Representative of Trading Point of Financial Instruments.
Dear Mr. Zulfkar Ali AKA Mr. Abdul Quddus Chowdhury,
First and most important; It seems both reviews posted under different names come from the same person as they repeat the exact same inaccuracies with different names.
If you want to use act as a judge of cheating for any party it is advised to not try to use variuous names to post multiple false reviews as it does not help make the forex market a safer place.
Now although both your comments are false; I follow up below with my answers to your inaccurate comments.
1. You received a survey email which offered you the opportunity to gain $25 free no deposit bonus for your views, feedback and comments. The email you received did not ask you to provide a good review; it requested your feedback and asked to give your vote for Trading Point.
2. The reason you see 6 reviews from Bangladesh in a row is simply because this questionnaire was sent to traders from your region exclusively.
3. The reason you have not found reviews from customers from Bangladesh in the past is simply because we never marketed our products in Bangladesh before January 2012.
Finally you use the word “cheating” in both your reviews which are posted under different names;
You also refer state that execution is very good and you like the No Requotes policy but you state you that Trading Point is Non Regulated which is totally inaccurate as we are both regulated and registered with all major EU financial services including the FSA UK.
To sum up although I try to always maintain a professional level of responses to clients in both reviews it is clear that you are debating with your own views and you are also using terms which do not reflect any reality what so ever.
I would advise that you are more careful before posting facts that do not reflect any reality as it poisons the reason websites like this exist.
Thank you,
Chris A. Zacharia
Official Representative of Trading Point of Financial Instruments.
Very bad thing: I have received 2 emails from two different persons claiming themselves the representative of Trading point in Bangladesh and offered a 25$ NO DEPOSIT BONUS by filling up a questionnaire and make a very good review in this site, the starring should be 10 stars and some good words. In this way they are attracting people ,making them to make good review in some sites. This is ABSOLUTELY Cheating.
You can easily notice that immediate 6 reviews came from Bangladesh and all are very good reviews (???). I hardly found any reviews from any Bangladeshi nationals in the last 2 years, but you can easily understand why 6 reviews came from Bangladesh within 2 days.
I request the broker to stop this type of cheating
Good things: Execution is faster, No requotes, NDD.
Bad Things: Non regulated, spread is higher.
Very bad thing: I have received 2 emails from two different persons claiming themselves the representative of Trading point in Bangladesh and offered a 25$ NO DEPOSIT BONUS by filling up a questionnaire and make a very good review in this site, the starring should be 10 stars and some good words. In this way they are attracting people ,making them to make good review in some sites. This is ABSOLUTELY Cheating.
You can easily notice that immediate 6 reviews came from Bangladesh and all are very good reviews (???). I hardly found any reviews from any Bangladeshi nationals in the last 2 years, but you can easily understand why 6 reviews came from Bangladesh within 2 days.
I request the broker to stop this type of cheating
very good broker , fastest execution I have ever seen, good website and regulated broker
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Chris A. Zacharia - Official Representative of Trading Point of Financial Instruments Ltd.
Dear Bernhard,
As you can appreciate we accept our errors and therefore we have already reimbursed your account last week with all the losses and "possible" gains which would occur if the rates would be as listed on the out-dated file.
I think this very much fair from our side to compensate for our error.
Thank you,
Chris A. Zacharia - Official Representative of Trading Point of Financial Instruments Ltd.