This broker has also been regulated by FCA 606110 and Belize Financial Service Commission (FSC) IFSC/60/430/18(33)h.
Extensive Review
Citypoint Trading is an online trading provider for CFDs and various financial instruments in the international OTC and derivatives markets. The company is registered as Citypoint Trading Limited (CTL) in England and Wales under registration no. 6707165, and is regulated by the Financial Conduct Authority under reference number 606110. Citypoint Trading is widely known as CPT Markets UK, for the official site has been changed from www.citypointtrading.com to www.cptmarkets.co.uk.
To traders outside the UK, Citypoint Trading affiliates with CPT Markets Limited, a company with an official label as CPT Markets and is registered in Belize with license by the International Financial Services Commission of Belize.
As a financial service company, Citypoint Trading is founded in 2008. As of 2019, the company proudly presents its Board of Directors as an amazing team with international recognition comprised of Nick Lewis, Costa Xitas, and Samir Shah. Trading in this broker allows traders to enjoy a classified service for individual and institutional traders, with tailored solutions for each type of trader supported by personal service in the form of dedicated account managers.
Based on their experience, individual traders were offered two different types of accounts: Retail Account and Professional Account. Both have contrasting leverage ranges, as Retail Account traders can use leverage up to 1:30 while Professional Account traders are allowed to make benefit of leverage as high as 1:200.
Although Professional Account holds more flexible leverage, their trading features are more limited. While Retail Account is equipped with all advantages that expand from Negative Balance Protection to Access to FOS, Professional Account is not eligible for FOS, Negative Balance Protection, and Client Money Protection.
Unfortunately, Citypoint Trading does not provide their spread and other Contract Specification info in great detail. The broker somewhat aims for simplicity in their concept of information sharing, as displayed by their Market Research section. Traders who open accounts in CPT Markets would find no further explanation on payment methods either since the broker prefers to invite traders to register first before providing the much-needed knowledge that other brokers usually provide transparently to every visitor in their official site.
As for the trading platform, Citypoint Trading chooses to stick with MetaTrader 4, the rather old version of Metaquotes' platform. It is seen as the broker's commitment to ease traders' understanding in their platform environment, for MetaTrader 4 has been widely recognized by most traders worldwide in recent years.
In conclusion, Citypoint Trading may be a considerable choice for an FCA-regulated broker aiming to provide trading services tailored for each client. However, it is quite important to take into consideration that exploring basic information such as spreads and payment methods is hindered by the company's minimalist approach in promoting their service. This may be a good choice for traders who prefer simplicity in trading, but it does not provide the necessary detail for others who need thorough information before registering under a certain broker.