CFXPoint Review Scam Complaint
CFXPoint Review – An Introduction
CFXPoint is a forex and CFD broker registered offshore in Marshal Islands. CFXPoint is owned and operated by KLDC Technological systems Ltd that too is registered in Marshal islands. Marshal Islands is known as a home of most of the unregulated scam brokers. The offerings of CFXPoint may seem very attractive to some traders but the hidden intentions of the broker is not good, before investing with this broker it is recommended to go through the detail review about the broker below.
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About the CFXPoint:
CFXPoint is an offshore broker that has mentioned on its website about being based in the Marshal Islands. The broker CFXPoint offers three types of accounts on two different trading platforms the MetaTrader 4 platform or Sirix Webtrader. The broker offers trade in 57 forex pairs which also includes exotic currencies such as Hungarian Forint, Danish Krone, Mexican Peso, Polish Zloti, Norwegian Krone, Swedish Krone, South African Rand, Turkish Lira, Singapore Dollar, Hong Kong Dollar, Chinese Yuan, Russian Ruble, Czech Krona, Brazilian Real, Israeli Shekel and Romanian Leu. The broker also offers trade with CFDs on silver, gold, copper oil, major indices and commodities like coffee, sugar, corn and wheat.
CFXPoint provides a maximum leverage of 1:400 which is not too high but still a high one for new traders. As mentioned on the website of CFX Point one can open a Silver Account with a minimum deposit of $1000, a Gold Account with $2500 and a Platinum Account with $25,000. Where as in the FAQ section of the web site you will see that the broker has stated that you can open an account with $250 and which is definitely confusing for the potential traders. The broker has provided the option of a Demo account with the EUR/USD spread which is fixed at 2 pips with no commission on trade. The Demo Account shows that the Silver account where the maximum leverage is shown at a ratio of 1:400.
Is CFXPoint legit or scam?
CFXPoint is an unregulated broker which decreases its credibility. The broker has given misleading information about minimum deposit requirement on its website and even demands an unusual requirement of withdrawal amount to be not less than $100. There are various complaints regarding this broker from its clients about facing problems in withdrawing their money. Therefore, it would be adviced to not fall for this scam broker and keep your money safe.