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11-28-2010, 09:44 PM #1
11-05-2011, 08:31 PM #2
Chris A. Zacharia -- Official Representative of Trading Point of Financial Instruments
I was on the verge of starting a new account with TradingPoint as I was attracted by the "20% Welcome Bonus & the 15% Loyalty Bonus", plus availability of oil in their trading instruments (which one of my favorite broker still don't have).
However (and luckily), upon checking the T&C on these "Bonuses", they turn out to be nothing more than additional Leverages since they CANNOT be withdrawn under any circumstances and are nullified when withdrawals are made from the account.
This type of advertisement to attract new clients do not sit well with me as it adds up to nothing more than a just a cheap and misleading sales gimmick.
It would looks better if TradingPoint simply says "We will increase your leverage by 20% as a welcome bonus, and an additional 15% for Loyalty bonus".
At least, that gives the impression to new potential clients that TradingPoint is honest and transparent and there are no-strings attached to any of their offers/incentives. After all, TRUST is everything in the forex world.
As it is, we traders have enough problems just to stay ahead of the volatile financial market and most certainly don't welcome additional problems with our brokers.
Can TradingPoint just be a good and transparent broker and refrain from advertising those "special offers", which becomes something else in their T&C, like so many other suspicious brokers are doing?
Why can't we traders get what is as advertised? If TradingPoint don't intend to give out those "bonuses", then don't use this tactic at all.
It would do TradingPoint a whole lot of good to their reputation to remain just a highly competitive, transparent, and honest broker.
If you can gain our trust, I am very sure that we traders will spread the good word about TradingPoint which will be a whole lot better than some cheap sales gimmick which have the opposite effect.
I tell it like it is, as that's my opinion and TradingPoint can take that whichever way they like.
Last edited by RahmanSL; 11-05-2011 at 08:42 PM."Making Profit IS EASY, keeping it IS NOT!"
Each & everyone of us started & came out number ONE in a group race of between 20 to 40 million individual sperms.
Nothing ilks a professional Trader more than a successful Trader who simply trade with what he/she see/read in the market and without any fancy/complicated indicators/analysis/what-so-ever.
12-09-2011, 06:04 AM #3
12-09-2011, 09:32 AM #4
05-09-2012, 07:51 PM #5
10-14-2012, 05:56 AM #6
Did you follow up on this at all? Bring a claim against them anywhere? I have just started doing business with XEM and so far I'm impressed with the stability of their trading servers. Trade are executed very fast with no requotes and no spread widening.
I am trying to find more information on them before I add more funds to accounts held with them. They seem to registered with many regulators and I'm wondering if anyone has comments on that.
XEMarkets Regulation and Licensing | EU Regulated and FSA Authorized
Owned and operated by Trading Point of Financial Instruments Ltd, which is a European Union-regulated broker and a registered Cyprus Investment Firm (CIF), XEMarkets
Provides its services according to the strict financial standards prescribed by its chief regulator, the Cyprus Securities and Exchange Commission (CySEC), where it is registered under the license number 120/10;
Is authorized by the Financial Services Authority (FSA) UK (licensed under 538324)
Has full EU-authorization, including
BaFin (Bundesanstalt für Finanzdienstleistungsaufsicht), Germany, under registration number 124161,
CNMV (Comisión Nacional del Mercado de Valores), Spain, under registration number 2010157773,
AFM (Autoriteit Financiële Markten), Netherlands,
FI (Finansinspektionen), Sweden,
FIN (Finanssivalvonta Finansinspektionen), Finland;
Embraces the investor protection measures described by the Markets of Financial Instruments Directive (MiFID);
Adopts clear procedures to categorize clients and assess their investment suitability for the sake of risk management;
Follows a best execution policy for executing trading orders on terms most favorable to clients;
Ensures trading transparency for its financial instruments by providing detailed information about trading conditions;
Collaborates with multiple providers to offer the best spreads and at all times;
Follows a no re-quotes and no extra commissions policy that could negatively affect clients’ investments;
Complies with the Markets in Financial Instruments Directive (2004/39/EC) for the prevention and suppression of money laundering and terrorist financing.
In the financial industry, the most essential requirement is the safety of clients’ funds. This is the reason why XEMarkets follows strict rules to safeguard clients’ interests as it
Keeps clients’ funds segregated from our company funds, in tier 1 banking institutions and ensures that these cannot be used either by us or by our providers under any circumstances;
Keeps clients’ funds in highly secure global banks with lowest credit risk;
Ensures high operation standards by submitting regular financial reports to CySEC and to the company’s financial auditor, KPMG;
Provides retail clients with additional protection through the Investor Compensation Fund in the case of company insolvency;
Uses an automated system for monitoring funds transactions and risk management for the sake of no negative balance, and thus protects clients from any losses bigger than their original investments;
Applies multiple transaction methods for funds withdrawals and deposits that guarantee transfer security and clients’ privacy through Secure Socket Layer (SSL) technology.
12-07-2012, 03:48 PM #7
I made 2 withdrawals to empty the account a month ago at the beginning of November and have not seen any money yet. This was supposed to take 2 to 5 business days to show up on my credit card as a payment. Numerous emails which they returned stating that the payouts have been authorized but still no money. Avoid these people for another reason as well...they charged me 5 times the normal rate for swap fees!
12-07-2012, 04:20 PM #8
I have recently been trading with XEM (few months now) and I only opened small micro accounts with no more than $150 per account so that I could evaluate them for a few months before moving more serious funds in.
Everything started great. I use the 4xtrader suite of tools to monitor all trades and server conditions.
I was getting trade execution times in the 200-300ms range from my VPS which has a 1ms ping to their trade server. I was very happy. Then, not long ago when MQ rolled out the 445 update things went bad. Constant disconnects from their trade servers. They take the servers offline every day at 0432gmt for a bout 8 mins claiming this is some mandatory "optimization" they run. They claim every broker does this but I can assure you that I don't experience this with any others.
It's been a huge fuss trying to get them to sort out the server issues. They keep saying it's better, it's better but just Friday, before released, their server went dead for like 40 mins. All through they were offline. Totally unacceptable.
I will give them a chance to make it right since I honestly feel it's just a poorly configured server and not mal-intent. I purposely opened several small accounts so I could test for a few months just to detect this stuff.
Now hearing that getting money out is an issue have me worried. I will be closely monitoring this thread. Please update when possible.
Thanks and good luck.
12-11-2012, 06:17 AM #9
I know this broker for a year before trading point I started deposits small and immediately I realized the size of this company.
There are many factors that make me work with this broker.
The rate of payments (no more than 24 hours)
excellent customer service, if I can appoint Sylvia and luciano, my direct account manager
bonus promotions are not indifferent
I hope you go on like this, for now I'll stop with them.
02-17-2013, 04:16 AM #10
By WaveRider in forum Market Shark TryoutsReplies: 6Last Post: 09-18-2014, 08:10 PM
By weinghong in forum Scam Alerts FolderReplies: 25Last Post: 05-25-2014, 09:07 PM
By Chris Zacharia in forum Press ReleasesReplies: 0Last Post: 07-09-2012, 09:35 AM
By RahmanSL in forum Scam Alerts FolderReplies: 14Last Post: 03-28-2012, 09:58 PM