CFXPoint (Cfxpoint.com) is a Forex trading scam platform that has hit the financial world. After receiving numerous email complaints from subscribers, we decided to have a look. Shocked by our findings, we decided to share it with you. No one should ever lose money with fake scam brokers. Here, we will reveal all the dirty tricks these scam artists have used to defraud people. Read this detailed and honest review.
According to the homepage, CFXPoint claims to trade and invest securely with Forex. Traders are promised an enriched trading experience that is unmatched. Members are also urged to join this platform as they will be trained to become expert investors. By reading tutorials and eBooks, members are promised to become expert traders within no time. All these sounds too good to be true. Cause it isn’t. We are dealing with a professional scam outfit.
Fake promises are what scam artists rely on to lure unsuspecting investors. Claims such as fast and secure platform will immediately raise trust among investors. Other promises that CFXPoint is using include being an award-winning broker. Users are also promised a unique user experience in the world of online FX trading. Having said this, we simply had to conduct a thorough investigation and below is proof of scam.
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First red flags that we noticed was the platform they were using. According to their website, you can easily get MT4 platform, Sirix Crypto, web and mobile trader, and Activ8. Folks, we tried downloading these platforms on our devices. Sadly, none of the platforms worked on our devices as download stalled at 27%. It must be mentioned that this is highly unusual and unorthodox. Simply put, their platforms are useless.
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Users can only use their web-based platforms which is at a disadvantage to mobile traders. Some traders prefer to trade on the go. Notice how their platform is unstable? It means that hackers can easily gain access to this platform and do as they want. Without SSL encryption protection, it makes this platform vulnerable to cyber-attacks. Who would sign up with a platform that can easily be manipulated by hackers? We’re guessing certainly not you.
Readers, another shocking detail we learned was about their demo account. Investigating CFXPoint led us to opening a demo account and we noticed some discrepancies. For instance, we would place winning trades and surprisingly win. It seems that the platform is rigged to ensure users make winning trades. Notice that this is only happening with their demo trading account. Why could this be happening?
Scam artists are good at luring people into signing up with them. What CFXPoint scam artists have done is rig the demo account. It ensures that investors will use the demo account and make winning trades. Once they have laid this trap, investors are led to believe they can actually profit from CFXPoint. Wouldn’t you sign up with CFXPoint if it actually made winning trades? Sadly, all these are rigged trades meant to lure you into signing up.
Users are asked to refer friends and family to this fake Forex broker platform. Once you do this, you and your friends will lose money together. Affiliate programs used by scammers are meant to enlarge the trap set. It’s also a form of marketing strategy where they don’t need to advertise. Members do all the donkey work for them. Note that this is in a way an accomplice to crime. Members are asked to stay away from this venture.
Another affiliate program is the business affiliate. As their business affiliate, you are responsible to promote the product for them. Promotion can include high traffic websites, blogs and others. Doing this will be aiding and abetting financial fraud. Why can’t these scammers higher real promoters? It’s because reputable promoters don’t want a hand in scamming millions of people. No one has even been paid for promoting this website, it all looks phony.
Since no trader is the same, CFXPoint offers a wide selection of trading accounts. Each account is tailored to benefit a certain type of investor. Investors can choose between three different account types. Users can either choose to have the Silver account. A Silver account holder must make a minimum deposit of $1000 to start trading. To be honest, this is way above the industry recommended value of $250.
Gold account holders on the other hand must make a minimum deposit of $2500. These account holders get a sign-up bonus of 30%. Platinum account holders must cough up $25000 to start trading with CFXPoint. With this account, members are eligible for 50% bonus for opening an account. All these accounts come with different perks as we mentioned such as trader rebate on request.
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Notice to all our readers is that issuance of bonuses in Forex trading is strictly prohibited. No one should be allowed to offer bonuses to the public. All regulatory bodies are against use of bonuses as brokers take advantage of this. Brokers normally withhold withdrawals in the pretext that users must pay for bonuses used. Why then would they offer bonuses to members? It is simply a scheme to lure investors into signing up with CFXPoint.
Hell NO! CFXPoint has not being regulated by any regulatory institution. Furthermore, this is an offshore broker which means following set rules and regulations is next to impossible. Contacting the FCA and CySEC was the only way we could confirm CFXPoint was actually regulated. Sadly, none of these regulatory bodies has ever registered this fake Forex platform. It makes us question the real motive behind such a broker.
Without a doubt we have a scam in our hands. From the evidence gathered, we are sure that CFXPoint is nothing but a scam. Why would a legitimate platform fail to be recognized by regulatory bodies? It’s simply because we are dealing with an unknown entity. Another alarming detail is the level of anonymity these brokers have kept. No one can even know who the owner of this firm actually is.
Due to concrete evidence on our hands, we believe that CFXPoint is a scam. From offering bonuses to not being regulated, this is definitely a scam. As ardent Forex investors and traders, we have no other option but to blacklist CFXPoint as a scam.
Always go for dependable and trustworthy Forex brokers. Faithful and truthful Forex brokers ensure you trade safely and with ease. Get excellent services from Forex brokers who are backed by the trading community. It’s the only way to trade safely and easily.
Stay safe and trade with ease.
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