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  • #141
  • Feb 15, 2012 10:00am Feb 15, 2012 10:00am
I am a US resident and I opened an account with TP prior to the Sept 7 law suit filing by the CFTC. Though I could not open any additional accounts, that active account was grandfathered and I was allowed to trade still...until now.

I got this yesterday from TP:

Trading Point of Financial Instruments Ltd. Is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC) - License Number 120/10 and complies with all applicable European Union laws and regulations. Even though Trading Point does not have any offices and/or operations in the U.S. and does not engage in the solicitation of clients, it appears that the CFTC does not allow us to offer our services on a cross-border basis to U.S. Clients, without being registered as a Futures Commission Merchant (FCM) in the United States and complying with the US regulatory framework for retail foreign exchange transactions.

In light of these developments, it is with great regret that we have to inform you that Trading Point will no longer be able to accept any transactions from U.S. residents.

Accordingly, by the 15th of February 2012 no later than 22:00 Central European Time (CET) - 5:00 PM Eastern Standard Time (EST), all open positions and all pending orders in your account with Trading Point must be closed. Any positions left open at that time will be automatically closed at the last available price and all pending orders will be cancelled.

This is very sudden and short notice!! Does anyone know what recent event prompted this to happen?
  • #142
  • Feb 16, 2012 11:13pm Feb 16, 2012 11:13pm
Quoting ibotman
I am a US resident and I opened an account with TP prior to the Sept 7 law suit filing by the CFTC. Though I could not open any additional accounts, that active account was grandfathered and I was allowed to trade still...until now.

I got this yesterday from TP:

[i]Trading Point of Financial Instruments Ltd. Is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC) - License Number 120/10 and complies with all applicable European Union laws and regulations. Even though Trading Point does not have any offices and/or...
Oh how I HATE the CFTC and its regulations which make the USA the "Iron-Curtain" of forex...
  • #143
  • Feb 18, 2012 11:57pm Feb 18, 2012 11:57pm
Unlike you, we did not receive the admittedly late (same day!?) warning you received. Instead, we were told a bit later that the account was being closed and returned to originating bank.

It appears the TP-FX crew have fallen silent in these forums, with good reason.


Our company does not fall within the net of Dodd-Frank due to how we heard of them and approached them, yet we were unceremoniously dumped with no opportunity of discussion.

Costly in many ways; no apologies. Oh well. On to the next adventure.
  • #144
  • Feb 20, 2012 7:05am Feb 20, 2012 7:05am
Quoting idealfx
Unlike you, we did not receive the admittedly late (same day!?) warning you received. Instead, we were told a bit later that the account was being closed and returned to originating bank.

It appears the TP-FX crew have fallen silent in these forums, with good reason.


Our company does not fall within the net of Dodd-Frank due to how we heard of them and approached them, yet we were unceremoniously dumped with no opportunity of discussion.

Costly in many ways; no apologies. Oh well. On to the next adventure.
Dear idealfx,

We sincerely apologize for any inconvenience this may cause you, but unfortunately changes in U.S. laws and regulations and in the manner
these are enforced by the CFTC are beyond our control.

We have sent several emails to our clients from the United States notifying them about their account status. If you have not received an email and you would like us to investigate this case or if you need any other assistance, please do not hesitate to contact us:

Customer Support:
Working hours: 24/5
Tel: +357 25 02 99 00
Fax: +357 25 82 03 44
E-mail: [email protected]

Yours faithfully,
The Trading Point Team
  • #145
  • Feb 20, 2012 9:59am Feb 20, 2012 9:59am
Ermmm...

Quote
We have sent several emails to our clients from the United States notifying them about their account status
No my friend, only the one saying account already closed and refunded on 15 Feb (although still waiting on the money part).

In fact (because market was slow at the time and I wanted a bit of fun) I immediately phoned our acct rep to ask where are all these emails TP-FX sent. He cleared his throat a few times and said, "Oh, didn't you and I talk about that a couple of months ago?" Eh? Heh heh, no we did not. TP-FX 3x/day session emails have always come through just fine, though.

I imagine the lawsuit is the reason for all this; probably they've offered you terms of settlement which include booting the American traders these people want put into "AUSTERITY" as well. The new 'boat people,' we're supposed to become.

Global agendas, CFTC carrying 'em out, silly fibbing breaker/dealers, the usual. *Yawn!*

It's all water under the bridge and we've moved on to other arrangements. I must say TP-FX phone folk whether in dealing, back office, tech or accts have always been friendly, astute and good talkers. Low key and pleasant, always. Shout out to you all and we'll miss you! Wish you well.
  • #146
  • Feb 23, 2012 9:50pm Feb 23, 2012 9:50pm
My account was closed. My deposit has been refunded. However, almost one week has passed, my request of withdraw of the profit still have not been processed though I have submitted all the required information for the wire transfer. How to get my profit back? Thanks
  • #147
  • Feb 24, 2012 6:54am Feb 24, 2012 6:54am
Quoting shiningstar
My account was closed. My deposit has been refunded. However, almost one week has passed, my request of withdraw of the profit still have not been processed though I have submitted all the required information for the wire transfer. How to get my profit back? Thanks
Shiningstar,

We process withdrawal request within 24-48 hours. If you have requested a bank wire withdrawal, then it might take up to 5 business days to receive the funds. If you used another method, you should have received it by now but for some reasons the payment is being delayed. In any case, please send us an email to [email protected] or contact your Account Manager. We will provide you with the transaction details and your bank will be able to track the payment.

Best regards,
The Trading Point Team
  • #148
  • Feb 29, 2012 7:26am Feb 29, 2012 7:26am
Quoting TradingPoint
Shiningstar,

We process withdrawal request within 24-48 hours. If you have requested a bank wire withdrawal, then it might take up to 5 business days to receive the funds. If you used another method, you should have received it by now but for some reasons the payment is being delayed. In any case, please send us an email to [email protected] or contact your Account Manager. We will provide you with the transaction details and your bank will be able to track the payment.

Best regards,
The Trading Point Team
Thanks. After contacting support, I finally got the reply from the account manager who used to reply my email immediately...Now I have the profit in my bank account. Thanks.
  • #149
  • Mar 8, 2012 12:27am Mar 8, 2012 12:27am
1. As stated in your website, the maximum leverage 1:500 is only given to all accounts if the deposit amount is not more than $20,000.00. Do you give any special privilege if we would like to deposit more than $20,000.00, but still want to enjoy 1:500 leverage (higher risk, but we accept it)?

2. Let say deposit is $20,000.00 in micro account, leverage is 1:500. After 1 month, extraordinary performance, the new balance is $50,000.00, does the trader still enjoy 1:500 leverage? Or it changed to 1:200 once $20,001 meet?

cheers
  • #150
  • Mar 9, 2012 9:04am Mar 9, 2012 9:04am
Quoting zam4ever
1. As stated in your website, the maximum leverage 1:500 is only given to all accounts if the deposit amount is not more than $20,000.00. Do you give any special privilege if we would like to deposit more than $20,000.00, but still want to enjoy 1:500 leverage (higher risk, but we accept it)?

2. Let say deposit is $20,000.00 in micro account, leverage is 1:500. After 1 month, extraordinary performance, the new balance is $50,000.00, does the trader still enjoy 1:500 leverage? Or it changed to 1:200 once $20,001 meet?

cheers
Dear zam4ever,

1. Generally, the leverage for deposits above $20,000 is capped at 1:200. However, if an individual client wants to have a higher leverage, it can be discussed with one of our Account Managers.

2. It will not be changed immediately, but we reserve a right to reduce the leverage if an account's balance stays above $20,000 for a sustained period of time.

Best regards,
The Trading Point Team
  • #151
  • Mar 10, 2012 2:58am Mar 10, 2012 2:58am
Thank you for above feedback. I'll talk with one of your account manager once I'm ready to use TP.

Have a nice weekend and cheers

p/s: just wonder why this thread is not under brokers section.
  • #152
  • Mar 17, 2012 12:17pm Mar 17, 2012 12:17pm
first off all,..sorry about my bad english,...im working with TRADING POINT, more than 1 year,..untill now,..very good,..one off the best brookers,..i want to use a VPS SERVER IN MY TRADING POINT ACCOUNT,..BUT I DONT KNOW HOW TO CHOOSE THE BEST ONE,...SAME ONE CAN HELP ME, PLEASE,..THANKS
  • #153
  • Mar 26, 2012 3:07pm Mar 26, 2012 3:07pm
New Trading Platforms
In addition to TP MetaTrader 4 and TP MAM platforms, Trading Point is now offering 5 NEW trading platforms:

TP WebTrader (No Download – For Mac and PC Computers)
With TP WebTrader you can have full access to a user-friendly trading interface, and a series of effective trading tools to perform trading operations, analyze market trends and put your trading ideas into practice in a web based environment with no requirements for download.

TP Droid Trader (For Android Powered Smartphones)
As a popular trading platform and accessible anytime and from anywhere, TP DroidTrader guarantees both flexibility and security. Available on Google Play (ex Android Market).

Trading Point Mobile Trader (For Apple iPhone Smartphones)
The Trading Point Mobile Trader presents all the iPhone features that you are used to. It will also give you the flexibility to trade while on the go. Available on the App Store.

Trading Point Mobile Trader (For Apple iPad Devices)
Trading Point Mobile Trader is a good choice as it incorporates many advanced and practical features of the iPad. Available on the App Store.

Trading Point Mobile Trader (For Windows Mobile, Symbian and Other Devices)
Trading Point Mobile Trader is a good choice as it incorporates many advanced and practical features of Windows Mobile and Symbian Powered Phones. Type mobile.trading-point.com in your phone’s browser to access the platform.

For more information visit www.trading-point.com .
  • #154
  • Apr 7, 2012 12:28pm Apr 7, 2012 12:28pm
this guys widened the spread of EurChf by 25 pips!!! at the close.
bid is 1.9931 ask 1.20181

other broker don't have that...so there you have it,this guys stop hunt...virtual dealer plugin? ..and the way they have good reviews ...makes u wonder....
wo-yoy! wo-yoy! wo-yoy! wo-yoi! wo-yoy-yoy-yoy!
  • #155
  • Apr 9, 2012 6:17am Apr 9, 2012 6:17am
Dear Pemully,

I think you have leaving an important factor out of your equation and therefore you are making accusations towards Trading Point about using plugins and unethical practices which we can guarantee we don’t use, reinforce or support.

The spread at the closing of the trading week which closed on the 6th of April 2012 was very much affected by the Easter week. Liquidity in the market through out the week was very low and especially on the closing of the market.

When you are trading with a broker offering variable spreads similar to the interbank market spreads are 100% dependent on the liquidity of the market.

I can reassure you that positive reviews don’t come with no reason.

Thank you,

Chris A. Zacharia - Official Representative of Trading Point of Financial Instruments.
  • #156
  • Apr 11, 2012 6:17pm Apr 11, 2012 6:17pm
I am a happy TP client, I would like to use a VPS for trading. Is TP likely to offer a VPS service like some brokers do any time soon ?
  • #157
  • Apr 11, 2012 8:17pm Apr 11, 2012 8:17pm
Quoting babnz48
I am a happy TP client, I would like to use a VPS for trading. Is TP likely to offer a VPS service like some brokers do any time soon ?
look at CNS, commercial network services. A bit more pricey than some but stable, offers servers in London/NY/San Diego. You can get 1 ms ping times to fxcm, finfx .. finfx has a router in the same NY data centre for premium accts ($2,000 dep. i think)
Skype: heliosphan187
  • #158
  • Apr 11, 2012 9:10pm Apr 11, 2012 9:10pm
has it large slippage during news event?
  • #159
  • Apr 12, 2012 4:34am Apr 12, 2012 4:34am
Quoting ifflopx
has it large slippage during news event?
Market makers beware not the best for such trading.
Brokers are angels
  • #160
  • Apr 16, 2012 10:15am Apr 16, 2012 10:15am
Quoting neuron
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
Paypal is no longer available ?
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