Thinking of getting into business with Standpoint Finance? Here is what you must know about this broker. Carefully read this review to find out if standpointfinance.com is the trading platform you will want to trade with.
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About Standpoint Finance Broker
Standpoint Finance broker is an offshore brokerage company with a lot of promises for traders. The broker address shows it is from St. Vincent & the Grenadines.
There are different account types the broker offers. See below.
To clarify, regardless of the trading instruments Standpoint Finance claims to offer, traders must know they are dealing with an unknown broker which does not have a regulation over its head.
standpointfinance.com: Reasons to Avoid This Broker
Firstly, standpointfinance.com is a platform with no financial authority overseeing its financial services. We believe this broker is not worth your money because Financial Services Authority SVG does not monitor or regulate brokers.
Secondly, we noticed standpointfinance.com has no demo account for traders. Since traders can’t test the broker on a free account, we can’t know its viability in the forex market.
More so, this broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
These are cons for forex traders to avoid losing money with this scam broker. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
Withdrawal and Deposit
Withdrawal process
Under withdrawal policy, Standpoint Finance leaves us with no specific information on withdrawal fee nor processing days on withdrawal. Truly, this broker is a scam and its fraudulent schemes are clear.
Minimum Deposit
Standpoint Finance minimum deposit is pegged at $250.
As for the payment methods, the broker leaves traders with no payments options to choose from. Truly, you should not consider making any payment with this broker because it is a risk. So beware!
Standpoint Finance Platform
Standpoint Finance offers web based trading platform and not MT4 or MT5 (Industry standard trading platforms) which gives us more reason not to take this broker serious.
As for the leverage, the broker discusses nothing for traders. Nevertheless, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
Standpoint Finance Licensing and Regulation
It is not far from believing that this broker is not a licensed brokerage firm. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
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Licensed in Australia(ASIC) and Cyprus(Cysec)
Accepts Traders Worldwide
Minimum Trade Deposit $100
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Conclusion: Is standpointfinance.com a Reliable Broker?
No, standpointfinance.com does not seem like a reliable broker for traders even though it promises offers that look good to be true.
Most importantly, the broker is unregulated which means it is not authorized to operate in any regulated country and you should definitely not put any money into it.
Because we have taken it as a duty to find out scam forex brokers and also share reasons, we will not recommend this broker for trading.
Kindly share your comment about this broker in the comment section.