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FXPOINT -

Score

1.44 /10
Danger

FXPOINT

Saint Vincent and the Grenadines

2-5 years

Suspicious Regulatory License

Suspicious Scope of Business

High potential risk

https://www.fxpoint.co/index.html

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Score

Regulatory Index0.00

Business Index6.44

Risk Management Index0.00

Software Index4.00

License Index0.00

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Licenses

No valid regulatory information, please be aware of the risk

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No restriction on the broker account. Support service provided by WikiFX

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Regulatory disclosure

Danger

PL KNF
2023-03-24
Notification of suspected criminal offence punishable under Article 178 of the Act on trading in financial instruments (engaging in activities in the field of trading in financial instruments without the required authorisation or power of attorney) Fx Point, through which entities using the name Grey Matter Enterprise Ltd provided services – (Grey Matter Enterprise Ltd), operating through the website www.fxpoint.co 24Trading, through which entities using the name Grey Matter Enterprise Ltd, provided services – (Grey Matter Enterprise Ltd), operating through the website www.24trading.co
FXPOINT
24trading

Danger

FR AMF
2021-07-29
Blacklists of unauthorized companies and websites: Forex
FXPOINT
FXCT Investments
Platinumhitech

Broker Information

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Company Name

Grey Matter Enterprise Ltd

Company Abbreviation

FXPOINT

Platform registered country and region

Saint Vincent and the Grenadines

Company website

Company summary

Pyramid scheme complaint

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Warning: Low score, please stay away!
Previous Detection : 2025-01-01
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

WikiFX Verification

FXPOINT · Company summary
FXPOINT Review Summary
Founded2-5 years
Registered Country/RegionSaint Vincent and the Grenadines
RegulationUnregulated
Market InstrumentsForex currency pairs
Demo AccountN/A
LeverageN/A
Spread0.2 pips
Trading PlatformWebtrader
Min Deposit$3000
Customer SupportEmail: support@marketstrade.co.ukTelephone number：14388068855

FXPOINT Information

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 and Cons

Pros Cons
5 account types to choose fromLack of Regulatory Oversight
Website inaccessible
Extremely high minimum deposit ($3,000)

Is FXPOINT Legit?

FXPOINTis not regulated by any financial institutions.

What Can I Trade on FXPOINT?

FXPOINT offers traders the opportunity to trade forex currency pairs.

Tradable Instruments Supported
Forex currency pair✔
Stocks❌
Currencies❌
Crypto currencies❌
Indices❌
Bonds❌
Futures❌

Account Types

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.

FXPOINT Fees

The spread of EUR/USD delivered by online traders on FXPOINT is 0.2 pips.

Trading Platform

FXPOINT chose Webtrader as its trading paltform.

Trading PlatformSupported Available Devices Suitable for
Webtrader✔Windows, MAC, IOS, AndroidInvestors of all experience levels

Deposit and Withdrawal

FXPOINT's financing methods are wire transfer, iDeal and Cashier. Minimum initial deposit requirements are up to $3,000.

News

NewsWikiFX report: FXPoint Broker – Beware of FXPoint.com Trading Scam

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.

WikiFX
2022-04-18 15:18
WikiFX report: FXPoint Broker – Beware of FXPoint.com Trading Scam
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Comments

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FX1375287799
more than one year
The minimum deposit of $3,000 is too high, at least for me, as I don't have that much money. To be honest, when a novice is trading foreign exchange, it is best to be mentally prepared to lose all his money. I haven't heard of any foreign exchange novice who can make a large profit without losing money.
The minimum deposit of $3,000 is too high, at least for me, as I don't have that much money. To be honest, when a novice is trading foreign exchange, it is best to be mentally prepared to lose all his money. I haven't heard of any foreign exchange novice who can make a large profit without losing money.
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2023-03-16 17:43
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FX1331706005
more than one year
I submitted a request to withdraw from my account two weeks ago and until now I have not received the amount. Then I found their site has shut down! I am in a total puzzle now.
I submitted a request to withdraw from my account two weeks ago and until now I have not received the amount. Then I found their site has shut down! I am in a total puzzle now.
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2023-03-07 10:47
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