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The WikiFX Score of this broker is reduced because of too many complaints!

CPT Markets

United Kingdom|5-10 years|
Suspicious Scope of Business|High potential risk|

https://www.citypointtrading.com

Website

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Contact

info@citypointtrading.com
https://www.citypointtrading.com
https://www.facebook.com/Citypoint-Trading-Limited-140546299330726/
https://twitter.com/citypointtrade
The WikiFX Score of this broker is reduced because of too many complaints!

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VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

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Broker Information

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Company Name

Citypoint Trading Limited

Abbreviation

CPT Markets

Platform registered country and region

United Kingdom

Company website
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Pyramid scheme complaint

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Warning: Low score, please stay away! 4
Previous Detection : 2024-07-14
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of the complaints received by WikiFX have reached 9 for this broker in the past 3 months. Please be aware of the risk and the potential scam!
  • The United KingdomFCA regulation (license number: 606110) claimed by this broker is suspected to be clone. Please be aware of the risk!
  • The current information shows that this broker does not have a trading software. Please be aware!

WikiFX Verification

CPT Markets · WikiFX Survey

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Pyramid scheme complaint
Expose
Scam

A forced liquidation caused by the CPT salesman

The CPT salesman asked me for account, and traded by the opposite way in the evening. My account suffered a forced liquidation the next day. The picture shows that 1000 was deposited and the account balance is cleared the next day.

2019-06-26 00:41
Scam

CPT, a fraud and cloned platform.Investors,please be wisely.

Because of manipulation of market data by the platform and reverse order recommendation given by its teacher,I made a great loss.And the platform was verified as fraud platform.Evidence of illegal fraud:1, the result of domain survey. Description:The platform was set up on 28th,August,2017,which is new and inconsistent with the years-of-history claimed on its website.Picture 8&9 is the screenshots of its domain name. Evidence 2:it claims to be regulated Description:The platform claims that it is regulated by FCA606110,while there is no screenshots of Chinese-and-English regulatory page in its website. It also doesn’t make sense that its staff and customer service don’t give responds positively.The following screenshots 5&6&7 is my communication with the customer service. Evidence 3:The result of regulatory investigation Description:It is verified that the corresponding platform of FCA606 is Cinypoint. The registered regulation time is 2014 and the Cinypoint is a commercial company.Following is the digest of regulatory rules:Contract for Differences (excluding a spread bet and a roll spot forex contract)Future (excluding a commodity future and a roll spot forex contract)Option (excluding a commodity option and an option on a commodity future)Rights to or interests in investments (Contractually Based Investments)Rolling spot forex contract Future(excluding commodity future and roll spot forex contract)Option (excluding a commodity option and an option on a commodity future)Rights to or interests in investments (Contractually Based Investments)Rolling spot forex contract,excluding retail forex business,hasn’t joined the FSCA.The query results is as follows(picture1&2&3&4)

2019-08-30 10:29

    CPT Markets · Company Summary

    Note: CPT Markets' official site - https://www.citypointtrading.com is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.

    CPT Markets Review Summary
    Founded 2008
    Registered Country/Region United Kingdom
    Regulation FCA (Suspicious clone)
    Market Instruments Forex, Precious Metals, Oil, Indices, CFDs
    Demo Account Available
    Leverage 1:200
    Spread N/A
    Trading Platforms MetaTrader 4, Vertex platform
    Minimum Deposit $20,000
    Customer Support Phone: 44(0) 203 988 2277 (from 07:00 till 22:00 Monday to Friday)
    Email: info@cptmarkets.co.uk
    Address: 40 Bank Street, 30th Floor Canary Wharf, London England E14 5NR

    What is CPT Markets?

    CPT Markets is a financial services provider that offers trading services in various instruments such as Forex, precious metals, Oil, Indices, and CFDs under a suspicious clone license from the Financial Conduct Authority (FCA). It offers many types of accounts, the Standard Account, Platinum Account, Islamic Accounts, Retail and Professional accounts with different features. CPT Markets also provides a maximum leverage of 1:200 and offers MetaTrader 4 platform and Vertex platform.

    CPT Markets

    Pros & Cons

    Pros Cons
    • Multiple Market Instruments
    • Suspicious Clone FCA License
    • Multiple Customer Support Channels
    • Lack of Information

    Pros:

    • Multiple Market Instruments: The platform offers diverse Market Instruments, including Forex, Precious Metals, Oil, Indices, CFDs, catering to various trading needs and experience levels.

    • Multiple Customer Support Channels: CPT Markets provides various customer support channels including phone, email, and address, enhancing accessibility and assistance for clients.

    Cons:

    • Suspicious Clone FCA License: The lack of valid regulation raises significant safety and trust concerns, as regulatory oversight is crucial for ensuring customer protection and platform transparency. It's very likely to be a scam.

    • Lack of Information: The company's website is non-functional, suggesting a lack of transparency and reliability. The lack of comprehensive information about trading instruments, fees, and account details hinders informed decision-making and fuels suspicion.

    Is CPT Markets Legit or a Scam?

    • Regulatory sight: Presently, CPT Markets has the sole authority of a suspicious clone license under the Market Making(MM) of the Financial Conduct Authority (FCA), bearing license number 606110 in the United Kingdom. This type of license, which allows a company to mimic the services of a legitimate financial entity, raises concerns about the legitimacy and trustworthiness of the company's operations.

    Suspicious clone FCA license

    Market Instruments

    CPT Markets boasts a diverse selection of trading instruments across various asset classes, catering to the diverse needs and preferences of traders. From traditional Forex pairs to Precious Metals like gold and silver, and Oil, traders have access to a wide range of opportunities to capitalize on market movements.

    Additionally, CPT Markets offers trading in Indices, allowing traders to speculate on the performance of major stock indices worldwide. Furthermore, CFDs (Contracts for Difference) are available, providing flexibility for traders to engage in leveraged trading across a diverse range of financial instruments.

    Account Types

    • Standard Account: As a UK-based company, CITY POINT TRADING offers a Standard account tailored for traders new to financial markets. It provides access to a range of trading instruments, low spreads, and educational resources. While it requires a minimum deposit, it offers limited leverage, suitable for those aiming to test trading strategies with lower risk levels.

    • Premium Account: Catering to more experienced traders, the Premium account offers advanced features such as higher leverage, competitive spreads, and priority customer support. With a higher minimum deposit compared to the Standard account, it provides access to more sophisticated trading tools and resources.

    • Forex Islamic Accounts: Also known as swap-free accounts, these cater to traders adhering to Islamic principles, offering no swap or rollover interest on overnight positions.

    • CITY POINT TRADING also offers Retail and Professional accounts, each tailored to different trading needs and preferences. The minimum initial deposit required for the Professional account is $20,000.

    Leverage

    CITY POINT TRADING provides varying leverage ratios across different accounts and instruments.

    For Forex trading, the Retail Account offers a leverage ratio of 1:30, while the Professional Account provides a more flexible leverage of 1:200.

    When it comes to Indices trading, the Retail Account offers a leverage ratio of 1:20, whereas the Professional Account provides a higher leverage of 1:200.

    For trading Commodities, the Retail Account offers a leverage ratio of 1:20, while the Professional Account provides a leverage of 1:100, offering more leverage for professional traders.

    Trading Platforms

    CPT Markets provides its clients with access to a variety of advanced trading platforms, ensuring a seamless and versatile trading experience. Among these platforms is MetaTrader 4 (MT4), a widely acclaimed platform known for its robust charting tools, technical indicators, and automated trading capabilities.

    Additionally, CPT Markets offers the Vertex platform, which provides traders with a user-friendly interface and advanced features tailored to suit their trading needs. With these platforms, traders can execute trades efficiently, analyze market trends comprehensively, and manage their portfolios effectively.

    Deposits & Withdrawals

    CPT Markets offers convenient and efficient deposit and withdrawal options to ensure a seamless trading experience for its clients. Traders can fund their accounts or withdraw profits through transfers and credit cards, providing flexibility and accessibility in managing their funds.

    Additionally, CPT Markets prioritizes prompt processing of withdrawal requests, aiming to complete them on the same day if received by 12:00 GMT. This commitment to fast and efficient withdrawals reflects the company's dedication to customer satisfaction and ensures that traders have timely access to their funds when needed.

    Customer Service

    CPT Markets provides a comprehensive and accessible customer support network. Their support team can be reached through different channels for ultimate convenience.

    • Phone: 44(0) 203 988 2277 (From 07:00 till 22:00 Monday to Friday)

    • Email:info@cptmarkets.co.uk

    • Address: 40 Bank Street, 30th Floor Canary Wharf, London England E14 5NR

    Conclusion

    In conclusion, CPT Markets provides an assortment of trading opportunities, suitable for various types of traders. It offers many account types with different leverage, a broad range of market instruments, and multiple customer support channels.

    Nevertheless, their regulatory status raises concerns due to their 'suspicious' clone license under the Financial Conduct Authority (FCA). The lack of complete and transparent information hinders the traders' decision-making process.

    Frequently Asked Questions (FAQs)

    Q 1: Is CPT Markets regulated?
    A 1: No. It currently only holds a suspicious clone FCA license.
    Q 2: Does CPT Markets offer demo accounts?
    A 2: Yes.
    Q 3: What is the maximum leverage offered by CPT Markets?
    A 3: CPT Markets offers a maximum leverage of 1:200.
    Q 4: Is CPT Markets a good broker for beginners?
    A 4: No. It is not a good choice for beginners. Not only because of its suspicious clone FCA license but also because of its inaccessible website.

    Risk Warning

    Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.

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