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• Our Review Method

• Is CFXPoint Scam or Legit Broker?

• What is CFXPoint?

• Conclusion

Our Review Method ▲

In our rigorous review process, a team of seasoned financial specialists, boasting more than 20 years of experience in Forex trading, carries out an exhaustive evaluation of various trading services. Our team delves deep into the investigation of fees, assesses the trading platforms, and verifies adherence to regulatory standards. We also interact directly with customer support and conduct actual trades to gain a real-world understanding of the trading conditions. This comprehensive approach enables us to provide informed insights and advice on why we recommend avoiding CFXPoint due to the issues we've identified.

Is CFXPoint Scam or Legit Broker? ▲

The legitimacy of CFXPoint has come under severe scrutiny, with significant evidence pointing towards its classification as a scam broker. This brokerage, which operates under the ownership of Marketier Holdings Limited, finds its base in the Marshall Islands – a location widely criticized for its lack of stringent financial regulations. The absence of robust regulatory oversight in this jurisdiction is a glaring red flag, making it a hotspot for questionable forex brokerage operations, including the likes of MegaTradeFX and Finbitex.

The Marshall Islands' reputation for minimal regulatory requirements, coupled with its non-regulation of forex trading activities, presents a conducive environment for less reputable brokers to thrive. Given these alarming indicators, including CFXPoint's blacklisting by a reputable regulatory authority, traders are strongly advised to steer clear of engaging with this broker.

What is CFXPoint? ▲

CFXPoint emerges under the corporate banner of KLDC Technological Systems Ltd, an entity incorporated within the regulatory-light Marshall Islands. The brokerage positions itself as a DMA (Direct Market Access) provider, eschewing the dealing desk model to offer trading across 65 currency pairs and 33 CFD products. CFXPoint touts its ability to deliver competitive spreads and superior client support as part of its trading package.

Despite these offerings, the critical concern lies in CFXPoint's base of operations within a jurisdiction that does not enforce forex and investment firm regulations. The self-regulatory posture adopted by CFXPoint is insufficient to instill confidence among traders, given the absence of external oversight and the inherent risks to capital security this entails. While the broker proclaims adherence to operational standards, the lack of formal regulatory protection casts a shadow over its reliability. This backdrop of non-regulation has led to CFXPoint's appearance on the radar of industry authorities, such as the Italian CONSOB, which issued a cease order against the broker for unauthorized investment service offerings.

Conclusion ▲

In light of our comprehensive review, underscored by an analysis of over 1000 brokers, the conclusion is unequivocally clear: traders should exercise caution and avoid engagement with CFXPoint. The broker's operational base in the Marshall Islands, coupled with its lack of recognized regulatory oversight, positions it as a high-risk avenue for traders. The industry consensus advocates for trading with brokers subjected to stringent regulatory standards, such as those enforced in the UK or Australia, to ensure trading security and reliability.

The recent unavailability of the CFXPoint website, alongside the absence of clear operational status, further amplifies concerns regarding its legitimacy and stability. The recommendation to bypass offshore-based brokers, underscored by their notorious instability and regulatory deficiencies, remains firm. Traders are encouraged to seek out and engage with brokers that boast a solid regulatory foundation, ensuring a secure and transparent trading environment.