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  • #81
  • May 31, 2011 2:41pm May 31, 2011 2:41pm
I would like to know how much are clients accounts insured for and by which institution?

Thank You
  • #82
  • Jun 1, 2011 5:10pm Jun 1, 2011 5:10pm
Quoting sincere360
I would like to know how much are clients accounts insured for and by which institution?

Thank You
Hi sincere360,

With regards to the insurance/safety of client funds within Trading Point please find our comments below:

· As Trading Point is a member of the Investors Compensation Fund, all of our Retail Clients are covered up to an amount of Euro 20,000 (~$28,800). This fund is insurance to our clients as it is there to secure any claims of our clients. More information regarding the Investors Compensation Fund may be accessed through here.

· As a regulated Broker we are obligated to keep all deposits from our clients in a separate account from the company’s funds. As such any deposits that you may make will not be available to the company for its use. The Company and Client’s money are kept in segregation within our European Banks.

I hope the above clarifies your query, please do not hesitate to ask should more elaboration be required.

Kind Regards,

Costas
  • #83
  • Jun 2, 2011 7:22pm Jun 2, 2011 7:22pm
Quoting TradingPoint
Hi All,

Thank you for your patience in our response and for the questions posed. The questions raised leave room for us to explain in depth our execution methodology and address some of the more serious issues that traders are concerned with. As always we will be fully transparent in our responses and welcome any questions/queries that may be raised further to our comments below:


Virtual Dealer:

[font=Calibri]As it has been previously stated within this thread, Trading Point...

Costas....according to your terms & conditions, may I refer you to the following (which suggests that Trading-Point may very well trade against its clients):

"Market Making function may involve significant costs to the Company if the market moves against the Company as compared to the price at which the Company traded with the Client."

"10.6 The Client accepts that the Company in such markets where the Company acts as Market Maker, may hold positions that are contrary to positions of the Client, resulting in potential conflicts of interest between the Company and the Client."
  • #84
  • Jun 6, 2011 6:07am Jun 6, 2011 6:07am
Quoting PetroB
Costas....according to your terms & conditions, may I refer you to the following (which suggests that Trading-Point may very well trade against its clients):

[size=2]"Market Making function may involve significant costs to the Company if the market moves against the Company as compared to the price at which the Company traded with the Client."

"10.6 The Client accepts that the Company in such markets where the Company acts as Market Maker, may hold positions that are contrary to positions of the Client, resulting in potential conflicts of...
Hi PetroB,

With regards to your comment, in which sections of our terms and conditions have been placed in, please note that such terms and conditions are mandatory to be in place as we also hold the license of market maker. Following the acquirement of our CySEC license, we are obliged to include these terms and conditions.

Kindly note that in addition to our investment service of Reception and Transmission (R&T) – the service which allows us to accept and transmit client orders using an STP model of execution with our liquidity providers – we also have as a Company the Investment services of Dealing on Own Account (where the Company trades financial instruments for its own accounts with Company funds) and Portfolio Management (where the Company may trade on behalf of (a) Client(s), with a pre-signed Power of Attorney); each department of which is in segregation, through strict implications of Chinese Walls, of each other due to potential conflict of interest.

For example, the Dealing on Own Account department may have a long position in EURUSD and the overall position of our clients may be a short position in EURUSD. Kindly note that the R&T department may be indifferent as to what may happen, as we fully cover our clients and as such will make a profit (through the spread) regardless of the movement of the EURUSD, however it will be in the Company’s interest for the EURUSD to rise, in this scenario, as the Dealing on Own Account department has a long position in this pair – as such you can see that sometimes the Company’s overall interest may be in contrary of the Client; however this is not to say that we trade against the Client.

I hope the above clarifies why such Terms and Conditions are in place and also that we do not in fact trade against any of our clients.

Kind Regards,

Costas
  • #85
  • Jun 16, 2011 1:15pm Jun 16, 2011 1:15pm
I was once able to work with MT4 email alerts while using another broker. I am currently a customer of yours with both a live and demo account but I am unable to have the email alert system working. Could this problem have anything to do with the broker's system, broker's ISP or the like?
  • #86
  • Jun 17, 2011 9:39am Jun 17, 2011 9:39am
Quoting tradista
I was once able to work with MT4 email alerts while using another broker. I am currently a customer of yours with both a live and demo account but I am unable to have the email alert system working. Could this problem have anything to do with the broker's system, broker's ISP or the like?
Hi tradista,

I hope you are enjoying your experience with us here at TradingPoint. We would appreciate if you informed us of your overall experience you have had with us and any suggestions or comments are most welcome.

To set up the email alert system, please go to your Mt4 Terminal-> Tools -> Options ->Email. From here fill in the information as is appropriate, in accordance with your email address and email provider. Also within the options tab there is a help section which can guide you through the process.

Please let me know if you need further elaboration on the above matter.

Kind Regards,

Costas
  • #87
  • Jun 17, 2011 6:33pm Jun 17, 2011 6:33pm
My overall experience with TP is very good. Up until now, I never had a datafeed error or erroneous spikes during PA and the service (even the demo account) seems to be available without disruption. The only inconvenience being the very confusing use of mixed 5 and 4 digit values on symbols for micro accounts.

About the email setup, I managed to have it working but it seems to me that, because it is dependent on my ISP allowing smtp ports, I get the feeling that the alerts will only work if I have my computer and trading terminal powered on and active, isn't it ? Shouldn't alerts be stored and work from the brokers own servers ?
  • #88
  • Jun 18, 2011 5:53pm Jun 18, 2011 5:53pm
Hi,

First of all, I want to say that it is a pleasure to read this thread. Costas answers to questions are always very in depth, to the point and he for sure seems very honest and knowledgable.

But just to be absolutely clear and have this -to many- crucial issue clearly stated, is the following statement correct?
On average, TP makes money irregardless of whether the client wins or looses (money comes in via spreads and positions of the 'Dealing on Own Account' account). Consequently it is in the best interest of TP to have winning clients, as winning clients stay clients and therefore keep on generating spread. This is what TP separates from bucket shops as bucket shops make money on losing clients.

Thanks in advance for a reaction!
  • #89
  • Jun 20, 2011 5:40pm Jun 20, 2011 5:40pm
Quoting azertyken
Hi,

First of all, I want to say that it is a pleasure to read this thread. Costas answers to questions are always very in depth, to the point and he for sure seems very honest and knowledgable.

But just to be absolutely clear and have this -to many- crucial issue clearly stated, is the following statement correct?
[i]On average, TP makes money irregardless of whether the client wins or looses (money comes in via spreads and positions of the 'Dealing on Own Account' account). Consequently it is in the best interest of TP to have winning...
Hi azertyken,

The following statement which you have made in your post above is correct:

On average, TP makes money irregardless of whether the client wins or looses (money comes in via spreads and positions of the 'Dealing on Own Account' account). Consequently it is in the best interest of TP to have winning clients, as winning clients stay clients and therefore keep on generating spread. This is what TP separates from bucket shops as bucket shops make money on losing clients.

It sums up the fact that we do wish for our clients to become profitable, as then not only do they trade more frequently, but they do so with larger volume which in turn generates greater profit for us each time an order is executed.

Thank you for your kind comments and we welcome you to open an account with Trading Point and try us out. We are fully transparent in our workings and always available for assistance.

Kind Regards,

Costas
  • #90
  • Jun 21, 2011 12:47pm Jun 21, 2011 12:47pm
My opinion of Trading Point is that, for USA residents, they are one of the best choices one can have.. I have 2 accounts with them and to this point, have had no problems or issues with them.. It is a major plus to have mt-4 with no re-quotes.. I would recommend them to anyone looking for a non-usa broker..
  • #91
  • Jul 7, 2011 3:11pm Jul 7, 2011 3:11pm
Quoting pipsteady
My opinion of Trading Point is that, for USA residents, they are one of the best choices one can have.. I have 2 accounts with them and to this point, have had no problems or issues with them.. It is a major plus to have mt-4 with no re-quotes.. I would recommend them to anyone looking for a non-usa broker..
Hi pipsteady,

Thank you for your positive comments made. Please do inform us of how you are getting on with your trading here at Trading Point; we welcome both positive and negative comments .

Regards,

Costas
  • #92
  • Jul 8, 2011 1:04am Jul 8, 2011 1:04am
Hullo Trading-Point crew,

Just went over to visit your site and can't get it to load properly.

Had everything from 'database errors' to "This Account Has Been Suspended" -- been going on for at least two hours now. Just a heads-up.
  • #93
  • Jul 10, 2011 2:46pm Jul 10, 2011 2:46pm
they're upgrading servers, if you have an existing account you can login to my.trading-point.com
  • #94
  • Jul 12, 2011 12:21am Jul 12, 2011 12:21am
Hello trading Point,
After July 16th, and the release of the new CFTC regulations, I shall be looking for a broker.
Do you have any tentative opinions as to whether you will still be accepting US residents? If so, may I ask how long have you been in existence? I've read this whole thread, and unless I just missed it, I didn't see that information.
  • #95
  • Jul 12, 2011 1:21am Jul 12, 2011 1:21am
Singlemalt,

Yes, Trading Point accepts US traders, as I have just recently signed up for two live accounts. I believe that you will find this broker to be very responsive with their customer service and management support.

As far as how long they have been around, I would have to check but I believe that they started up in 2010 or late 2009, but please don't hold me to this.

Good luck
  • #96
  • Jul 12, 2011 1:43am Jul 12, 2011 1:43am
Quoting Singlemalt
Hello trading Point,
After July 16th, and the release of the new CFTC regulations, I shall be looking for a broker.
Do you have any tentative opinions as to whether you will still be accepting US residents? If so, may I ask how long have you been in existence? I've read this whole thread, and unless I just missed it, I didn't see that information.
Hi Singlemalt,

We do not have any plans to stop accepting US clients in the near/distant future. In our view we will indefinitely continue to accept US clients who wish to open an account with us through their own initiative.

Regarding our establishment, we have been around, as PetroB rightfully said, since late 2009.

Should you need any more information please do not hesitate to ask.

Kind Regards,

Costas
  • #97
  • Jul 19, 2011 4:00am Jul 19, 2011 4:00am
anybody want to update any experience with this broker.. it appears they can not keep a website running for more than a couple of hours at a time and they do not answer support messages.. while the trade platform works it is run on a seperate server with another company so that really doesn't tell much about about the company operations itself.
  • #98
  • Jul 20, 2011 12:28pm Jul 20, 2011 12:28pm
Using a TP demo MT4 account, I got the following message once "Trade Context is Busy". I logged off/on and it went away.

What does this message mean or indicate?
  • #99
  • Edited Jul 21, 2011 6:54am Jul 20, 2011 4:31pm | Edited Jul 21, 2011 6:54am
Quoting TradingPoint
Hi Singlemalt,

We do not have any plans to stop accepting US clients in the near/distant future. In our view we will indefinitely continue to accept US clients who wish to open an account with us through their own initiative.

Regarding our establishment, we have been around, as PetroB rightfully said, since late 2009.

Should you need any more information please do not hesitate to ask.

Kind Regards,

Costas
Still, TradingPoint, you must understand our skepticism. I've read dozens of testimonials of former clients of GoMarkets, FXCM, Alpari and the like where the brokerage claimed to absolutely "bend over backwards" to keep their US clients only to politely rush them out the door or to their States-based affiliate a few weeks or months later.

I may just be beating a dead horse here considering my absolute disdain for off-shore bucket shops (translation: if most of us could find a trustworthy US brokerage with decent leverage, we would), and I'm not faulting or labeling any of the previously mentioned brokerages (in a business as cut-throat as this, nothin' wrong with keepin' your nose clean and certification to prove it). But the revolving door momentum is a bit dizzying.

Case in point: one of your competitors, Tadawul FX, just closed its doors to US citizens as of July 16 in order to comply with even more regulations imposed by the CFTC. I, unfortunately, was one of those clients. Quel dommage, I loved that brokerage; my personal account manager rocked! Since you’re located in the same region as Tadawul FX and, similarly, regulated by the CySec and FSA, again, I must belabor, any chance you’ll be doing the same in the near future?
  • #100
  • Jul 26, 2011 12:45am Jul 26, 2011 12:45am
Quoting JustCallMeJo
Still, TradingPoint, you must understand our skepticism. I've read dozens of testimonials of former clients of GoMarkets, FXCM, Alpari and the like where the brokerage claimed to absolutely "bend over backwards" to keep their US clients only to politely rush them out the door or to their States-based affiliate a few weeks or months later.

I may just be beating a dead horse here considering my absolute disdain for off-shore bucket shops (translation: if most of us could find a trustworthy US brokerage with decent leverage, we would), and...
Hi JustCallMeJoe,

I understand your skepticism and can relate as to why you may feel that we also may start rejecting clients in the future, due to the increasing legislation being put forth from the U.S. Commissions. All I can honestly say to you is as I have mentioned before, that we do not have any plans in the near/long term future to restrict US clients from using our services.

Needless to say this is how we stand as of now; should new legislation be imposed that does in someway prohibit/restrict us from accepting US clients, then should such a scenario arise we may also begin to 'let go' of our US clients, but rest assured we will do everything within our power to keep our clients from the US.

Yes Tadawul FX are in fact situated in the same city as us (Limassol) and I have also heard that they have unfortunately started to 'let go' of their US clients following new legislation being put forth recently by the CFTC.

Further to your comments I would like to make a slight correction; kindly note that we are not regulated by the FSA - we are regulated by CySEC and are registered under the FSA as well as a number of other well known reguilatory bodies such as BaFin (Germany).

Kind Regards,

Costas
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