Warning! ClearpointFin is an offshore company! Your deposit may be at risk.
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It’s clear form the get-go that there is something wrong with Clearpoint-Fin, and we have given a detailed account on what exactly went wrong. For one, the broker lacks the sort of presentation that is expected from current industry participants, but as you will see (or read) this is the least of our concern,
We find a very obvious UK address and fake claim to an FCA license. We don’t even have to check the FCA register (which we ended up doing) to know that this entity has nothing to do with the British regulator. In fact, if Clearpoint-Fin is somehow operating from the UK, it is doing so completely outside of the law.
However, the registration number given by the broker matched up, and gives us results of a peculiar type. The results on FCA site state that Clearpoint-Fin is a clone of a currently non-operational broker, meaning that the current broker has stolen name and god knows what other elements from the past brokers and has made them its own without any approval what so ever. So, in reality Clearpoint-Fin is a clone!
The broker also provides a payment provider address based in a city in Bosnia and Herzegovina, yet but we don’t see how this is relevant. True or not, it matters not, for payment processing units have little to do with the legitimacy of a business. So, do not consider the Bosnia and Herzegovina address one bit!
As a matter of fact, do not bother at all with this entity. It’s an unregulated scam and a big risk to all of your investments.
Investing in unregulated brokers is the digital equivalent of throwing your money away for the wind to disperse it. It’s obvious that no one would do such a thing. Go with brokers that are regulated by trustworthy organizations like the FCA or CySEC. These entities work closely with the law, enforce it when called for, and have strict requirements for those under their gaze. Not to mention that those under their jurisdiction are members of compensation funds that cover victimized clients’ losses of up to £85 000 (FCA) and €20 000 (CySEC).
Next, let’s move on to the trading conditions. After a very easy registration – a sign that the broker welcomes anyone in – we were greeted by a very inadequate user area that says very much how truly limited this broker is. But by far the worst part was the complete lack of a trading platform. This means that whatever the company promotes as available trading details is all, essentially, worthless. Tradeable assets, leverages, and spreads do not apply here!
There was absolutely no trading software in the client area in client area. No web trader, nor any links to a desktop terminal were present.
Furthermore, the website provides a fake MT5 with a different name. Once again Clearpoint-Fin steals the hard work of some unrelated company and dresses it as its own.
There is no platform here, meaning that we cannot really call this one a broker at all!
CLEARPOINT-FIN MINIMUM DEPOSIT
For some reason, the deposit area was unavailable. What sort of scammer broker blocks away its only means of profit? We don’t know, and we don’t care to.
The only choice we have left is to turn to the website for the payment details. Unfortunately, there isn’t a lot to say here. As a matter of fact, the only real detail we found is an alleged minimum deposit requirement of $250.
There are no further depositing details, which only works against the broker, because now we trust it even less than before.
DON’T PROVIDE YOUR CREDIT CARD CVV CODE
The CVV code is the one thing that separates a buyer from a product. Without it, one cannot complete a purchase, even if him/her has given all other necessary information. By giving this detail to someone else, you are essentially inviting them to use your funds for their own means. And be warned that unregulated brokers most certainly plan to do so.
DON’T PROVIDE ACCESS TO YOUR COMPUTER AND BANK ACCOUNT VIA ANYDESK OR TEAMVIEWER
Be sure to never give AnyDesk or TeamViewer access to your PC to unverified agents. These 2 platforms allow for your PC to be taken over by a second party, oftentimes for help or guidance, but in the case of these brokers for the sole purpose of looting your bank account(s) and personal information. However, in order to do so your consent is needed, and this is the only thing standing in the scammers’ way.
CLEARPOINT-FIN WITHDRAW TIME AND FEES
According to the withdrawal area, clients can take out money by means of crypto, bank, and credit cards.
Perhaps these payment methods are also used as investments means? We cannot be sure but at the end of the day the broker is a scam so it’s not worth it.
There are no further details on withdrawals.
Beware, once more, when giving away an ID and a proof of address. Trustworthy brokers ask for these before traders can deposit to make a check up. Deceitful ones will ask for these details, using the anti-money laundering legislation as pretext, once you start asking too many questions and are getting suspicious of their activities. Understand that they will use these to build a stronger case against you in the event that you request a chargeback.
Yet again we urge readers to stay away from this broker as it will, without a doubt, never return your funds and profits. If you wish to to get smooth and efficient transactions, please visit a FCA/CySEC regulated broker, where all withdrawals are handled with care and respect.
HOW TO RECOVER
The most sound advice we could give you is to immediately file for a chargeback with you credit card company.
If you have given away your credit card details including the CVV code to the “broker” you should cancel it ASAP and check with your bank to see the damage inflicted.
Also, beware of self proclaimed “recovery” agencies or agents. These cheeky scammers promise to fix your problem and restore the lost funds. They offer their services in exchange of a small sum from your end, after which you won’t ever hear from them again.
The last line of defense for these indecent folk is more like a desperate cry: often times they will comment on reviews and cite the whole ordeal as a conspiracy initiated by competitive brokers against them; at times even claiming that reviewers are anything but objective, and that no one writes good reviews. The absurdities are limitless!
And so, we reach the end. What is there left to say but to repeat ourselves all over again: Clearpoint-Fin is a complete risk to all and a scam! Do not invest here because you will lose all your money!