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  • #1
  • First Post: Edited Apr 4, 2011 11:40am Apr 1, 2011 10:38pm | Edited Apr 4, 2011 11:40am
Hi Everyone ,

Please allow me to introduce myself, my name is Costas and I am an employee of a regulated Forex Broker named Trading Point of Financial Instruments Limited. The purpose of this thread is to assist the Forex Factory members with any questions regarding Trading Point and Forex in general.

Our Company provides its Clients with a variety of tradable financial instruments including currencies, metals, energies and stock indices which may be traded via our MT4 platform with some of the markets most competitive spreads. Our Company website is www.trading-point.com

Should you have any questions/comments please feel free to reply to this thread or alternatively contact me directly at [email protected]. We will attempt to respond to all queries within a 24 hour period of a working day.

Always at your disposal
The TradingPoint Team
  • #2
  • Apr 4, 2011 3:25am Apr 4, 2011 3:25am
Hello,
I would like to know what your companies stance is on the Dodd-Frank that was passed in the US? Are you going to buckle to the pressure from the CFTC about not accepting clients from the US or drop your current clients from the US at some point in the future? There are a lot of brokers dropping their US clients because of the CFTC's pressure currently. I would like to hear what your companies stance is and what it may be like going forward.

Thanks,
SatchFan
  • #3
  • Apr 4, 2011 1:08pm Apr 4, 2011 1:08pm
Quoting SatchFan
Hello,
I would like to know what your companies stance is on the Dodd-Frank that was passed in the US? Are you going to buckle to the pressure from the CFTC about not accepting clients from the US or drop your current clients from the US at some point in the future? There are a lot of brokers dropping their US clients because of the CFTC's pressure currently. I would like to hear what your companies stance is and what it may be like going forward.

Thanks,
SatchFan
Ditto.....
  • #4
  • Apr 4, 2011 1:17pm Apr 4, 2011 1:17pm
ive been trading with TP for about a month now and am really enjoying the speed (instant) and convenience of depositing via PayPal

more on StatchFan's concerns would also be appreciated...i certainly wouldn't want to lose my account
  • #5
  • Edited Apr 6, 2011 2:04am Apr 5, 2011 2:43pm | Edited Apr 6, 2011 2:04am
Quoting SatchFan
Hello,
I would like to know what your companies stance is on the Dodd-Frank that was passed in the US? Are you going to buckle to the pressure from the CFTC about not accepting clients from the US or drop your current clients from the US at some point in the future? There are a lot of brokers dropping their US clients because of the CFTC's pressure currently. I would like to hear what your companies stance is and what it may be like going forward.

Thanks,
SatchFan

Dear Satchfan,

Thank you for your query whether the passing of the Dodd-Frank Act in the US will have an impact on how Trading Point is dealing with US clients. I apologize for not having come back to you earlier on this subject, but as you can imagine, your question touched on a fairly complex issue on which I had to consult with our legal and compliance department.

Our answer to your query is fairly straightforward, however: Trading Point of Financial Instruments, Ltd. is a company established in Cyprus and regulated by the Cyprus Securities and Exchange Commission (CySEC) under Licence Number 120/10 and registered with the Financial Services Authority (FSA) in the United Kingdom under Number 538324.

We currently have no establishments in the United States and we have no relationships with IB's or other affiliates located or operating in the United States. As such, we are not subject to the jurisdiction of any regulatory or legislative authority in the United States.

Pursuant to our CySEC license, we are authorized to engage in cross-border business transactions with clients that are located in most jurisdictions throughout the world, including, inter alia, the United States. Accordingly, while we are not actively engaging in the solicitation of business from clients located in the United States, under our CySEC license, we welcome clients located in the United States who register with us on their own initiative and as such, in the future, will continue to welcome United States clients who take the initiative to register with us.

I trust that the above provides you with a satisfactory answer to your query, but please do not hesitate to let me know if you have any further questions or comments, or if you need any further information or assistance.

With best regards.

The TradingPoint Team
  • #6
  • Apr 6, 2011 9:46am Apr 6, 2011 9:46am
Quoting TradingPoint
Dear Satchfan,

Thank you for your query whether the passing of the Dodd-Frank Act in the US will have an impact on how Trading Point is dealing with US clients....
Thanks for your reply. For what its worth, FxPro is licensed with CySEC and has an international license, and they dropped me like a hot potato. InstaForex is licensed by RAFMM and they have dropped accepting US clients also. They are going to allow me to continue to trade and make withdrawals, but will not allow deposits going forward. I can't help but wonder how long it will take them to change their mind and stop me from trading with them at any time in the future. It doesn't really seem to matter who the brokers are licensed with, it only seems to matter if they want to take the risk of telling the CTFC to "Bug Off" and mind their own business or just drop US clients and not have to bother either way. It looks like most of the brokers are choosing the latter option...

I'm very well aware of the "Memorandums of Understanding" the CFTC has with offshore regulators and how they are trying to make it very uncomfortable for offshore brokers to accept US clients.

Going forward, any broker who decided to snub their nose at the CFTC, preferably quietly, might gain and edge getting US clients.

Peace,
SatchFan
  • #7
  • Apr 6, 2011 11:48am Apr 6, 2011 11:48am
I too am a USA client in search of a decent STP/ECN foreign broker. TradingPoint looks like an interesting option. If you do well, I think picking up USA clients could be great business opportunity for you.

I've downloaded your Demo MT4 and noticed that the trading digit precision seemed to vary from currency to currency.

From your website:
Quote
"Trading Point offers its customers fractional pip pricing in all tradable currency pairs. This means that instead of quoting prices with four(4) digits, Trading Point allows you to benefit from the smallest price movements by adding a fifth digit (fraction). Fractional pip pricing allows for tighter spreads and the most accurate quoting possible. This pricing is the result of our efforts to get the best prices from our multiple liquidity providers."
Yet it seems this isn't consistent. Most "5 Digit" brokers have 5 digit precision for all pairs (except for the Yen pairs that are 3 Digit precision and the exotics which can vary). Your currencies seem to be a mix of 2,3,4,5 Digit precision.

While this isn't necessarily a problem, it does get to be a pain when working with several pairs, EA's, basket trading, etc...

Something to be aware of if you are considering TradingPoint as a broker.

Is there a reason for this variation in precision?

Thank you for participating here at FF and for answering our questions.


Inserted Code
Pair    Digits
-----------------------
AUDCAD    4
AUDCHF    4
AUDJPY    3
AUDNZD    4
AUDUSD    5
CADCHF    4
CADJPY    2
CHFJPY    2
CHFSGD    4
EURAUD    4
EURCAD    4
EURCHF    5
EURDKK    4
EURGBP    5
EURHKD    4
EURHUF    2
EURJPY    3
EURNOK    4
EURNZD    4
EURPLN    4
EURSEK    4
EURSGD    4
EURTRY    4
EURUSD    5
EURZAR    4
GBPAUD    4
GBPCAD    4
GBPCHF    5
GBPDKK    4
GBPJPY    3
GBPNOK    4
GBPNZD    4
GBPSEK    4
GBPSGD    4
GBPUSD    5
GOLD      2
NZDCAD    4
NZDCHF    4
NZDJPY    2
NZDSGD    4
NZDUSD    5
SGDJPY    2
SILVER    2
USDCAD    5
USDCHF    5
USDDKK    4
USDHKD    4
USDHUF    2
USDJPY    3
USDMXN    4
USDNOK    4
USDPLN    4
USDSEK    4
USDSGD    4
USDTRY    4
USDZAR    4
  • #8
  • Apr 7, 2011 7:44am Apr 7, 2011 7:44am
Quoting Dozer
I too am a USA client in search of a decent STP/ECN foreign broker. TradingPoint looks like an interesting option. If you do well, I think picking up USA clients could be great business opportunity for you.

I've downloaded your Demo MT4 and noticed that the trading digit precision seemed to vary from currency to currency...[/code]
Dear Dozer,

Thank you for your comments and for bringing to our attention what may come across as somewhat confusing within our website with regards to fractional pip pricing. We do in fact offer fractional pip pricing for any of our currency pairs upon request; however as a default we have included fractional pricing on the most commonly traded pairs within the Trading-Point MT4 platform.

Should a client wish to have fractional pricing on any other currency pair, in addition to the ones provided we will accommodate for this.

We will amend the content on our website to more accurately reflect the above mentioning.

Thank you for your feedback and for noticing this!

Kind Regards,
The TradingPoint Team
  • #9
  • Apr 7, 2011 2:10pm Apr 7, 2011 2:10pm
I was wondering if you have any plans to offer mobile trading?
  • #10
  • Edited 2:20am Apr 8, 2011 2:19am | Edited 2:20am
Quoting yankees67
I was wondering if you have any plans to offer mobile trading?

Hi yankees67,

Yes we do plan to have mobile trading in the future, as there is ongoing demand for this. With regards to when, we do not have an estimate as of yet; when we do adopt mobile trading though we will inform all of our Real and Demo clients and I will make a note to inform FF members also through this thread.

Kind Regards,
The TradingPoint Team
  • #11
  • Apr 8, 2011 9:50am Apr 8, 2011 9:50am
Thank you for your explanation about your Fractional Pip Pricing. I've been demo trading with Trading-Point this week and it looks good so far.
  • #12
  • Apr 8, 2011 3:41pm Apr 8, 2011 3:41pm
In addition to opening this thread to allow Forex Factory members to share their Forex trading experience and ask us questions, we wish to also provide some insight with respect to some of the most popular questions amongst the Forex Factory community. We will first start with the question – Does a higher leveraged account always equal greater Risk?

In a nutshell, leverage is a tool that allows a trader to amplify the amount he wishes to buy/sell of a financial instrument. It is used by most traders with the aim of increasing the value of their pips gained which very frequently leaves them vulnerable to a quick stop-out.

There is a common belief amongst some traders that a higher leverage always indicates greater risk and as such discredit brokers that provide for such high leverages. Yes it is true that when you use a leverage to open the highest possible amount, that you may very easily be stopped out, however experienced traders that know how to use leverage do not do so in this manner. They instead choose to open an account with higher leverage in order to reduce their margin requirement and hence have a bigger ‘cushion’ should their trade go against them.

To illustrate this more vividly consider 2 traders; Trader A and Trader B. Both Traders begin with $1000 and are stopped out when their equity level falls to 50% of their Margin. Trader A chooses an account with 1:50 leverage and Trader B one with 1:500 leverage.

If both Traders open a position for 0.25 lots (25,000) on EURUSD (where each pip will be worth $2.5) (let us assume the rate to be at 1.4200), then each trader will have the following Margins (Lot size*Price/Leverage):


Trader A:

Margin= (25,000*1.4200)/50 = $710

Trader A will be stopped out at 50% of the Margin, hence he will be stopped out if and when his equity drops from $1000 and reaches $355 ($710*50%) i.e. when he loses some 258 pips: (1,000-355)/2.5


Trader B:

Margin= (25,000*1.4200)/500 = $71

Trader B will be stopped out at 50% of the Margin, hence he will be stopped out if and when his equity drops from $1000 and reaches $35.50 ($71*50%) i.e. when he loses some 385.8 pips: (1,000-35.50)/2.5


From the above example it can be clearly seen that the Trader with the account which gives him 1:500 leverage has a greater ‘cushion’ with respect to the amount he can lose and still keep his position open. As such it is in fact less risky to have a higher leverage provided it is used in the right way, which is not to open the maximum possible position but instead to use it in order to have a lower margin and hence have a bigger gap by which you may drop before stopping out?

This scenario is however not as common as the alternate, which is to trade the maximum amount one can with the leverage and as such it is very common that some traders get stopped out rather easily.

In conclusion, higher leverage can be very risky if used in the wrong way but can provide a bigger ‘cushion’ when used in a manner as described in the example above.

Kind Regards,
The TradingPoint Team
  • #13
  • Apr 8, 2011 6:58pm Apr 8, 2011 6:58pm
Quote
There is a common belief amongst some traders that a higher leverage always indicates greater risk and as such discredit brokers that provide for such high leverages......

I completely agree with your statement about the benefits of having higher leverage. I just can't understand why anyone would want an account with lower leverage. Just because the higher leverage is available, doesn't mean you have to always be leveraged to the maximum, but it's a great cushion to have if it's needed.

For me, I look at it as a way to reduce the amount of capital I have at risk with the broker. Let's say I have $10,000 USD I want to use for trading Forex and want to risk 2% ($200) on each trade with an account that offers 50:1 leverage.

Or I can use an account with 100:1 leverage (or higher) and effectively make the same trade using a $5,000 USD account and still risking $200 per trade. It's a 4% risk of my available balance, but it's using the equivalent available margin of the account. But in this case, my other $5,000 is sitting safely in my bank account and not at risk of any market or broker shenanigans. (No offense Trading-Point...) Which is also why easy and low cost deposits and withdrawals to the account are also very important.

Which brings up a question for Trading-Point:

What is the maximum available leverage for a standard account? Is 500:1 available for a standard account?


Thanks for taking the time to answer our questions.
  • #14
  • Apr 10, 2011 1:00pm Apr 10, 2011 1:00pm
Quoting Dozer
I completely agree with your statement about the benefits of having higher leverage....

Hi Dozer,

Thanks for your comments and positive feedback - You are very correct in saying that just because you have a higher leverage does not mean that you should necessarily use it to the full extent.

With regards to your question on which accounts we offer the 1:500 leverage:

· 1. For our Micro accounts, which allow you to open a maximum position of up to 100 Micro lots (same as 1 Standard lot = 100,000) per trade, you may choose a leverage between 1:1 - 1:500
·

2.For our Standard and Executive accounts, which allow you to open a maximum position of up to 50 Standard lots (5,000,000) per trade, you may choose a leverage from 1:1 up to 1:200 and 1:100 respectively.

Please note that the maximum leverages for Standard and Executive accounts are as such by default; should a client wish for a higher leverage in any of these 2 accounts we are more than willing to discuss this and accommodate as a bespoke solution. Factors that will be considered in this decision include the volume the client wishes to trade and also his start up capital.

So to answer your question more directly, yes it may be possible to obtain a 1:500 for a Standard account however, as a default, the maximum we provide for is 1:200.

I hope the above clarifies your query.

Kind Regards,

The TradingPoint Team
  • #15
  • Apr 11, 2011 11:25am Apr 11, 2011 11:25am
That's good information to know. Thanks for the explanation.
  • #16
  • Apr 23, 2011 8:25am Apr 23, 2011 8:25am
[quote=Dozer;4526300]I too am a USA client in search of a decent STP/ECN foreign broker. TradingPoint looks like an interesting option. If you do well, I think picking up USA clients could be great business opportunity for you.

I've downloaded your Demo MT4 and noticed that the trading digit precision seemed to vary from currency to currency.

From your website:
Yet it seems this isn't consistent. Most "5 Digit" brokers have 5 digit precision for all pairs (except for the Yen pairs that are 3 Digit precision and the exotics which can vary). Your currencies seem to be a mix of 2,3,4,5 Digit precision.

While this isn't necessarily a problem, it does get to be a pain when working with several pairs, EA's, basket trading, etc...

Something to be aware of if you are considering TradingPoint as a broker.

Is there a reason for this variation in precision?

Thank you for participating here at FF and for answering our questions.


have same interest and think of several options

divisa in nz (regulated)

investorseurope in gibraltar (regulated)

dukascopy (swiss broker and bank)

finfx in finland (registed only cos regulation of forex brokerage is nonexistant there)

look at them and post your opinion



lucky trading to you
  • #17
  • Apr 23, 2011 11:51am Apr 23, 2011 11:51am
Re: alstural
Quote
have same interest and think of several options

divisa in nz (regulated)
investorseurope in gibraltar (regulated)
dukascopy (swiss broker and bank)
finfx in finland (registed only cos regulation of forex brokerage is nonexistant there)

look at them and post your opinion

Thank you for the suggestions.

I was considering dukascopy, but they don't have MT4 and they also reduce their available leverage over the weekend to 30:1 which wouldn't work for me since I take advantage of higher available leverage and frequently hold positions for several weeks or even months.

I am planning on opening up a Standard trading account with Trading-Point soon, but I will also look into the other brokers you mentioned as I believe it's better to not put all of your funds in the hands of just one broker.

For what it's worth... I have opened a Micro account with Trading-Point for testing them and also to test my trading systems with their accounts. I have been very impressed (and profitable...) so far. Opening the account was very easy and my initial deposit(bank wire) was credited accurately within one day. Trade executions have been excellent and quick. I haven't really tested their customer service yet because I haven't had any issues so far. Everything has gone well and as expected. I haven't made any withdrawals yet.

If my testing with the Micro account continues smoothly, I plan on opening up a much larger Standard account within the next few weeks. Right now, Trading-Point is at the top of my broker list.
  • #18
  • Apr 23, 2011 9:04pm Apr 23, 2011 9:04pm
Quoting Dozer
Re: alstural


Thank you for the suggestions.

I was considering dukascopy, but they don't have MT4 and they also reduce their available leverage over the weekend to 30:1 which wouldn't work for me since I take advantage of higher available leverage and frequently hold positions for several weeks or even months.

I am planning on opening up a Standard trading account with Trading-Point soon, but I will also look into the other brokers you mentioned as I believe it's better to not put all of your funds in the hands of just one broker.

For...

caution!

soviet block

looked at it and refused

before making conclusions withdraw profit several times especially big ones

micro mini accounts can be just to lure in

try to check divisa

it looks serious

be thankfull for your feedback
  • #19
  • Apr 23, 2011 9:14pm Apr 23, 2011 9:14pm
[quote=Dozer;4566582]Re: alstural


Thank you for the suggestions.

I was considering dukascopy, but they don't have MT4 and they also reduce their available leverage over the weekend to 30:1 which wouldn't work for me since I take advantage of higher available leverage and frequently hold positions for several weeks or even months.

duka has

google ftt metatrade

i run demo

looks neck in neck with divisa investorseurope and finfx (taking into account comission for some of them)
  • #20
  • Apr 24, 2011 10:02am Apr 24, 2011 10:02am
Most US clients now want to move out of USD for diversification reasons - meaning the account base currency should be in EUR, AUD, or CHF. wondering if trading-point allows such selection?
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