Overview of Point
Point is an online trading platform founded in 2015 and headquartered in the United Kingdom. Notably, Point operates without regulatory oversight, which raises concerns about the safety and security of traders' funds and the transparency of its operations. Traders considering Point should exercise caution due to its lack of regulation.
The platform offers a range of tradable assets, including Forex, Energies, Precious Metals, Cryptocurrencies, Indices, CFDs, Agriculture, and US Equities. It provides a choice of three Forex trading account types, each with its minimum deposit and trading conditions. However, these offerings should be carefully evaluated against the potential risks associated with trading on an unregulated platform.
Point uses the MetaTrader 5 (MT5) platform, which is accessible on various devices and offers basic charting tools and real-time market data. Traders should conduct thorough research and consider the absence of regulatory oversight when deciding whether to trade on this platform.
Is Point Legit？
Point is not regulated. It is important to note that this broker does not have any valid regulation, which means it operates without oversight from recognized financial regulatory authorities. Traders should exercise caution and be aware of the associated risks when considering trading with an unregulated broker like Point, as there may be limited avenues for dispute resolution, potential safety and security concerns regarding funds, and a lack of transparency in the broker's business practices. It is advisable for traders to thoroughly research and consider the regulatory status of a broker before engaging in trading activities to ensure a safer and more secure trading experience.
Pros and Cons
Point offers a range of advantages and disadvantages for traders to consider. On the positive side, the platform provides diverse tradable assets, catering to various trading preferences. It also offers multiple account types, accommodating traders with different needs and strategies. Additionally, Point provides flexibility in terms of leverage options and offers various deposit and withdrawal methods for convenience. However, there are notable drawbacks, including the lack of regulation, which raises concerns about the platform's oversight and safety. The absence of commission transparency can make it challenging for traders to fully understand the costs involved. Moreover, while the platform mentions various advantages, there is no clear information regarding inactivity fees, leaving traders uncertain about potential charges for dormant accounts.
Trading Instruments
Point offers a diverse range of trading instruments to cater to the preferences and strategies of various traders. Among their offerings are:
1. Forex: Point provides access to the foreign exchange market, allowing traders to engage in currency pairs trading. This market is known for its high liquidity and offers opportunities to speculate on the fluctuations in exchange rates between different currencies.
2. Energies: Traders can also trade energy commodities through Point. This category typically includes trading in oil and natural gas, where investors can take advantage of price movements in these vital energy resources.
3. Precious Metals: Point enables trading in precious metals such as gold and silver. These metals are often seen as safe-haven assets and are traded by investors looking to diversify their portfolios or hedge against economic uncertainties.
4. Cryptocurrencies: For those interested in the volatile world of digital currencies, Point offers cryptocurrency trading. Cryptocurrencies like Bitcoin and Ethereum have gained popularity as speculative assets, and Point allows traders to participate in this market.
5. Indices: Traders looking for exposure to broader market movements can engage in index trading. Point provides access to various stock market indices, which represent the performance of a group of underlying stocks.
6. CFD (Contracts for Difference): Point offers CFD trading, allowing traders to speculate on the price movements of various financial instruments without owning the underlying asset. This provides flexibility and leveraged trading opportunities.
7. Agriculture: Agriculture commodities, such as grains and soft commodities like coffee or cotton, are also available for trading on Point. These commodities are influenced by factors like weather conditions and global supply and demand.
8. US Equities: Traders interested in the US stock market can trade US equities through Point. This includes shares of publicly listed companies on major US exchanges like the NYSE and NASDAQ.
Here is a comparison table of trading instruments offered by different brokers:
Account Types
Point trader group offers three distinct Forex trading account types, each designed to meet the diverse needs of traders. These accounts provide access to the powerful MetaTrader 5 trading platform, offering features like unlimited charts, technical indicators, automated trading, mobile trading, and comprehensive account information.
1. Standard Account: This account is accessible with a minimum deposit of $500 USD and offers a leverage of 1/100. Traders can benefit from tight spreads starting at 1 pip. It's suitable for those looking for a straightforward trading experience.
2. Premium Account: With a minimum deposit of $20,000 USD, the Premium Account provides enhanced trading conditions, including lower spreads at 0.7 pips. It suits traders seeking more competitive pricing and advanced features.
3. Elite Account: Designed for experienced traders, the Elite Account requires a minimum deposit of $50,000 USD. It offers the tightest spreads at 0.3 pips, making it ideal for those who demand precision in their trades.
How to Open an Account？
To open an account with Point, follow these steps.
Visit the Point website. Look for the “OPEN REAL ACCOUNT” button on the homepage and click on it
2. Sign up on websites registration page
3. Fill in a simple online form
4. Get instant verificationl
5. Proceed to deposit funds to your account
6. Download the platform and start trading
Leverage
Point trader group offers leverage options for traders, providing them with the opportunity to amplify their trading positions and potentially increase their profits. Leverage is essentially a loan provided by the broker to the trader, allowing them to control larger positions in the market with a relatively smaller amount of capital.
The broker offers a maximum leverage of 1:100 for all three types of trading accounts: Standard, Premium, and Elite. This means that for every $1 in the trader's account, they can control a trading position worth up to $100. Leverage can magnify both gains and losses, so it's essential for traders to exercise caution and have a solid risk management strategy in place.
While leverage can be a valuable tool for experienced traders looking to maximize their trading potential, it comes with increased risk. Traders should be aware that higher leverage levels can lead to significant losses if the market moves against their positions. Therefore, it's crucial for traders to fully understand how leverage works and only use it within their risk tolerance and trading strategy. Point trader group provides this leverage option to accommodate traders with varying risk appetites and trading styles.
Here is a comparison table of maximum leverage offered by different brokers:
Spreads and Commissions (Trading Fees)
Point Trader Group offers competitive spreads and commission structures, providing traders with transparent pricing for their transactions.
Spreads: The actual spreads at Point Trader Group may vary based on market conditions and the chosen account type. For the Standard account, spreads typically start from 1 pip. In the Premium account, spreads can be as low as 0.7 pips, offering tighter pricing for more experienced traders. The Elite account provides the lowest spreads, starting from 0.3 pips. These competitive spreads aim to provide traders with cost-effective trading options.
Commissions: Point Trader Group follows a commission-free trading model, meaning there are no separate commissions charged on trades. Instead, the costs of trading are primarily covered through the spreads. This fee structure can be advantageous for traders looking for a straightforward and easy-to-understand pricing model, as they won't face additional commission charges on their trades.
Traders should keep in mind that while there are no explicit commissions, spreads can fluctuate based on market volatility and other factors. Therefore, it's essential for traders to consider both spreads and market conditions when evaluating the overall cost of trading with Point Trader Group. Choosing the right account type that aligns with your trading strategy and cost preferences is crucial for a successful trading experience.
Non-Trading Fees
Point Trader Group's non-trading fees are designed to be trader-friendly, with no deposit or withdrawal fees imposed by the broker. There are no specified inactivity fees either, but traders should check their chosen account type's terms for any potential charges after account dormancy.
For traders dealing in different currencies, there may be currency conversion fees applied by banks or payment processors. However, Point Trader Group itself does not mention any ongoing account maintenance fees. It's important to review the broker's fee schedule and terms, as well as any potential third-party fees, to fully understand non-trading costs.
Deposit & Withdraw Methods
Point Trader Group offers a variety of convenient deposit and withdrawal methods for traders to manage their accounts. These methods include bank transfers, credit/debit cards, and various e-wallet options.
For deposits, traders can fund their accounts using bank transfers, which involve transferring funds directly from their bank accounts to their trading accounts. Credit and debit card payments are also accepted, making it easy for traders to use their cards for quick deposits.
In addition to these traditional methods, Point Trader Group provides e-wallet options, which are popular among traders for their speed and convenience. E-wallets like Skrill and Neteller are accepted, allowing traders to fund their accounts instantly.
When it comes to withdrawals, Point Trader Group aims to process requests efficiently. Bank transfers and e-wallets are the primary methods for withdrawals. It's important to note that the processing time for withdrawals may vary depending on the chosen method and the broker's internal procedures.
Trading Platforms
Point Trader Group offers a range of trading platforms designed to meet the diverse needs of traders:
1. MT5 Client Desktop: A versatile and feature-rich platform for desktop users, providing real-time market data, advanced charting tools, and the ability to trade various financial instruments.
2. MT5 Android Trader: A mobile trading app for Android devices, allowing traders to execute trades and monitor markets on the go.
3. MT5 for iPhone: Designed for Apple iOS devices, this mobile app offers similar features to the desktop platform, ensuring traders can trade and analyze markets from their iPhones.
4. MT5 for Web: A web-based trading platform accessible via web browsers, offering real-time market data and analysis tools without the need for downloads.
5. MT5 MultiTerminal: Ideal for professional traders or money managers, this platform enables simultaneous management of multiple trading accounts.
These platforms cater to traders' preferences, whether they prefer desktop, mobile, or web-based trading, providing access to global markets and tools for informed decision-making.
Customer Support
Point Trader Group is dedicated to providing comprehensive customer support to meet the needs of its traders. Here's an overview of their customer support channels and contact details:
Live Chat: Traders can access live chat support on the Point Trader Group website. This feature allows for real-time communication with the support team during trading hours, ensuring quick responses to inquiries and concerns.
Head Office Address: The main office of Point Trader Group LTD is located at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, MH 96960, Marshall Islands. This physical address provides traders with a formal point of contact for the company.
Representative Office: Point Trader Group also maintains a representative office in Cairo, Egypt, situated at Cairo Business Plaza, 90th North Street, 6th Office 617. This representative office serves as a regional contact point for traders in Egypt.
Phone Numbers: Traders can reach out to Point Trader Group via phone using the following contact numbers:
- United Kingdom: +44 20 8133 3334
Email Contacts: The company offers a range of dedicated email addresses to address specific inquiries effectively. These include:
- General Inquiries: info@pointfxltd.com
- Dealing Desk: dealing@pointfxltd.com
- Customer Support: support@pointfxltd.com
- Sales: sales@pointfxltd.com
- Back Office: backoffice@pointfxltd.com
- Financial Department: accounting@pointfxltd.com
- Marketing Department: marketing@pointfxltd.com
- Technical Support: Technical@pointfxltd.com
These email addresses allow traders to contact the relevant department directly, streamlining the support process and ensuring that inquiries are addressed promptly and accurately.
Online Message Form: Traders can also send messages through the online form provided on the Point Trader Group website. This form includes fields for the trader's name, email address, phone number, and a message. It offers a convenient way to reach out to the support team with specific questions or requests.
Educational Resources
Point trader group provides a range of educational resources to support traders in their journey to becoming more knowledgeable and successful in the world of forex trading. These resources include:
1. Education Videos: Traders can access a library of educational videos that cover various aspects of forex trading. These videos often explain trading strategies, technical analysis, and trading platform tutorials, offering visual and practical insights.
2. E-Books: Point trader group offers e-books that delve deeper into forex trading concepts. These digital books provide in-depth knowledge on topics like risk management, market analysis, and trading psychology, allowing traders to enhance their expertise.
3. Educational Academy: The educational academy is a comprehensive learning platform that caters to traders of all levels. It includes structured courses, quizzes, and exams to help traders grasp fundamental and advanced trading concepts systematically.
4. Educational Articles: Traders can access a collection of articles covering a wide range of forex-related topics. These articles offer insights, tips, and analysis to keep traders informed about market trends and trading strategies.
5. Webinars: Live webinars hosted by forex experts provide traders with the opportunity to interact and learn in real-time. These sessions often cover market updates, trading techniques, and Q&A sessions.
Recorded Webinars: In addition to live webinars, Point trader group archives recorded webinar sessions. This enables traders to access valuable content at their convenience, allowing them to learn and revise at their own pace.
Bonus
Point provides clients with several bonus and partnership programs to enhance their trading experience:
1. Refer a Friend Program: Clients can earn $50 for each friend or family member they refer to Point using a personalized link. This encourages clients to share their positive experiences with others.
2. Institutional Liquidity Solutions: Point offers advanced aggregation technology and deep liquidity to institutional clients, ensuring competitive pricing and excellent execution with no minimum volume requirements. The company also provides comprehensive customer support.
3. Introducing Brokers Program: Point's program helps individuals and businesses grow their client base. Partners receive commissions when their referred clients trade on Point's MT5 platforms, with customized commission structures.
Conclusion
Point, an online trading platform based in the United Kingdom, offers a range of trading opportunities across various assets, including Forex, Energies, Precious Metals, Cryptocurrencies, Indices, CFDs, Agriculture, and US Equities. While the platform provides some advantages such as diverse tradable assets, multiple account types, various spreads, leverage options, and various deposit and withdrawal methods, it's essential to highlight its significant disadvantages. Notably, Point operates without regulatory oversight, which raises concerns about the safety of traders' funds and the transparency of its operations. Additionally, there is a lack of commission transparency, making it challenging for traders to fully understand the costs involved. Furthermore, the absence of clear information regarding inactivity fees leaves traders uncertain about potential charges for dormant accounts. Considering these drawbacks, traders should exercise caution when considering Point as their trading platform.
FAQs
Q: Is Point a regulated trading platform？
A: No, Point operates without regulation, which means it lacks oversight from recognized financial regulatory authorities. Traders should be cautious due to the associated risks of trading with an unregulated broker.
Q: What types of assets can I trade on Point？
A: Point offers a diverse range of tradable assets, including Forex, Energies, Precious Metals, Cryptocurrencies, Indices, CFDs, Agriculture, and US Equities.
Q: What are the available account types on Point？
A: Point provides three Forex trading account types: Standard, Premium, and Elite, each with varying minimum deposit requirements and trading conditions.
Q: Does Point charge commissions on trades？
A: Point operates on a commission-free trading model, with trading costs primarily covered through spreads.
Q: What leverage options does Point offer？
A: Point offers a maximum leverage of 1:100 for all three account types (Standard, Premium, and Elite). Traders should use leverage cautiously due to the associated risks.
2023-03-02 16:40
