Clearpoint Fin Review – How Did We Expose Сlearpoint-fin.com Scam
Who is Clearpoint Fin broker? Why does it have such a bad reputation if the firm is licensed by the FCA? How could it be that it’s banned in the UK? This and more we have elaborated on in this Clearpoint Fin review.
|Broker status:||Unregulated Broker|
|Regulated by:||Unlicensed Scam Brokerage|
|Blacklisted as a Scam by:||FCA|
|Owned by:||Clearpoint Finance Ltd (allegedly)|
|Headquarters Country:||UK (allegedly)|
|Supported Platforms:||WebTrader, MT5|
|Types of Assets:||FX, commodities, indices, shares, cryptocurrencies|
|Free Demo Account:||No|
|Accepts US clients:||Yes|
What About Clearpoint Fin Regulation?
Clearpoint Fin is a brand owned by Clearpoint Finance Ltd, allegedly based in the UK. The company claims to have a license by the FCA, number 932786.
Upon checking the FCA register, we discovered that this number belongs to Clearpoint Finance Ltd from the UK but has nothing to do with clearpoint-fin.com domain. The legitimate firm is registered as a company dealing with mortgage financing and has nothing to do with the Forex market.
Thus, it doesn’t own the broker Clearpoint Fin, nor does it provide its license to this entity.
Why Is It Important For A Broker To Be Licensed?
A broker has to have a regulation to provide legitimate financial services. For instance, FCA, ASIC, BaFin, and other Tier1 license providers obligate Forex firms to follow strict rules and have significant compensation funds to reimburse potential victims.
Since Clearpoint Fin is clearly not regulated and we have no idea who the actual owner is, your funds are at risk.
How Reliable Is Clearpoint Fin Broker?
Clearpoint Fin is a fraudulent investment firm. The company claims to have an FCA license, while it operates unregulated. Beware.
Clearpoint Fin Blacklisted By The British Financial Regulator
Instead of a license, we found an FCA warning against the Clearpoint Fin trading scam. This regulator announced that Clearpoint Fin is abusing a legitimate firm and is just a clone company. Therefore, anyone involved should be aware that they’re not entitled to the FSCS compensation scheme.
Traders Reviews of Clearpoint Fin
Clearpoint Fin has quite a mixture of reviews. Some claim that the company is amazing, while others have given it one star.
Some companies write their reviews at the beginning, but when real traders get involved, this is when the truth starts coming out. Always pay attention to the company’s latest reviews, which are the most relevant.
What Platforms Does Clearpoint Fin Offer? – Available Trade Software
Clearpoint Fin offers MT5 and a proprietary WebTrader. Generally, this would be good news if a company was regulated. MT5 is considered the best platform on the financial market and the most sophisticated one. However, when provided by a scheme firm, we cannot talk about safety or security.
Clearpoint Fin MetaTrader 5 – Mobile Trading App
Like any MT5, this one comes with a dedicated mobile app as well. Yet, there’s still the same issue – dealing with an unregulated scheme firm.
Clearpoint Fin Broker – Countries Of Service
Based on our research, the firm is mainly targeting brokers from:
Clearpoint Fin Range of Trading Instruments & Markets
Clearpoint Fin offers trading in all 5 major markets, including:
- Currency pairs
Regardless of how good this offer may be, we advise you to decline it. You may end up being a scam victim.
Also, take notice of the titles of the trading frauds Empire FXM, EuroTrades, and FXLiveCapital and avoid them at all costs! Similarly, before investing, always research the background of online trading companies!
Clearpoint Fin Minimum Deposit
The broker requires a standard minimum deposit of $250. While this wouldn’t be such bad news if a firm really had an FCA license, in this case, we have to advise you to avoid it. There are numerous legitimate investment firms with Micro accounts, allowing you to start investing for as low as $10.
Bonus Policy Details
While there’s a whole Bonus Policy section in the Terms and Conditions, you actually get zero information. The broker says that you should get familiar with the terms of each specific bonus, but there’s nothing about these terms. Allegedly, all the information will be given once you receive the bonus amount. Since we’ve seen scams like this before, we know that account managers will use bonuses as an excuse to prevent you from withdrawing.
Abusing bonuses and incentives was why all the major regulators prohibited them.
Clearpoint Fin Unfavorable Trading Conditions
Since every other information on the website is fraudulent, there’s no reason to get something in your favor.
High Leverage and Spread
If the broker was really FCA-regulated, it would be allowed to offer leverage of 1:30 for the Forex market. However, Cleapoint Fin offers up to 1:500, which is another indicator that the broker is a scam.
Besides, the spread starts at 2.3 pips, which is rather high. Just for your comparison, the industry average is 1.5 pips.
Clearpoint Fin Deposit, Withdrawal Methods, and Fees
Terms and conditions suggest that the broker accepts debit/credit cards and wire transfers. If any other method is available, there are no indications about it.
The company charges hefty fees of 50 units for wire transfer withdrawals and 25 units for card payouts. The withdrawal time hasn’t been specified.
Scammed by Clearpoint Fin Broker? – Let Us Hear Your Story
If you were scammed by the Clearpoint Fin broker, let us know. Our chargeback specialists may be able to help you get a refund.
But What Is A Chargeback?
This is one of the methods for your bank to recover the funds from the merchant. Since this process is time-limited, it’s of utmost importance to act now. Contact us to book a free consultation, and let’s get your money back.
What Is Clearpoint Fin?
Clearpoint Fin is an online Forex and CFD trading provider without a license.
Is Clearpoint Fin a Scam Broker?
Clearpoint Fin is a scam brokerage exposed by the UK regulator FCA.
Is Clearpoint Fin Available in the United States or the UK?
The company is available in both the UK and the US.
Does Clearpoint Fin Offer a Demo Account?
Clearpoint Fin doesn’t offer a Demo account, only a Live one.