CityPoint Review

On first look at their website the answer to that question is that they don’t. There is no academy or education section on their website and upon contacting them you’ll find that you are directed to the telephone number for advice or asked to submit queries by email.
Citipoint seem to want to appeal only to the experienced trader to whom they’ll offer their attentive customer service. In terms of assistance that they offer on the website, that is limited to an economic calendar and a calendar of when future contracts expire.
There appears to be no live chat facility and there’s no introduction to Forex or for the trade in any other instruments they offer. In doing so they shut out a large part of the market, especially in these days when more and more people are coming new to trading.
There is a section for FAQs on the website which, rather than educating, opens the eyes of the trader hoping to work with Citipoint. In their favour, they are completely honest about the limitations of the service they offer and many would prefer that from a broker as it removes any uncertainties before you begin to trade.

Windsor has a good reputation for customer support which is offered through various channels. They have Live Chat Client support from Citipoint is limited to phone or email access. Phone enquiries are dealt with expediently but traders in their main trading area have to phone a UK number which gets costly from overseas although they do offer a call back facility.
Email enquiries were dealt with fairly quickly (within two hours) and the answers provided satisfied the query. Help is available in English or Arabic at the moment.
Rather worryingly, part of their contact arrangements focuses strongly on what to do if you have a complaint including a dedicated email address for the purpose.

For a company that has been trading in one form or another since 2008, there are surprisingly few comments on their service from traders.
Those that have commented on their experiences of Citipoint have mixed feelings with some saying that their customer service is good whilst others cite problems with the VertexFX platform despite the company’s claims that it is an award winning platform.

Rather confusingly, Citipoint trades in the Middle East, North Africa and Asia yet their head office is in the UK. Whilst this seems strange, it does mean that it’s regulated by a major organisation, indicating that its clients’ funds should be secure. Through Pulp International to which it is tied, it has registration with CySEC and as such, clients through the EU would also be covered. It also commits to keeping client funds separate from company funds.

Citipoint offer the industry standard MetaTrader4 platform but also have their own in house platform called VertexFX. The reliability of MT4 is unquestionable and Citipoint boast that their platform is cutting edge and industry leading and many of its features make it so. It has constantly filtered prices so you’re always up to date, a comprehensive charting package and in-built SMS messaging service so you get the latest advice almost instantly. It has an autotrade facility too.
As you’d expect, Citipoint offer a mobile platform which works on all the main operating systems. It seems that Citipoint only offer VertexFX for mobile platforms.

Citipoint only offer one type of trading account where the minimum position size is 0.1 lots and minimum deposit is $500
Margin requirements are 5% and below this point Citipoint will liquidate a position.
The broker states that under normal trading conditions, re-quotes won’t apply as trading is automated but that leaves the door open for times when conditions aren’t normal. Slippage can occur but Citipoint say they will avoid it where possible.
Islamic Sharia compliant accounts are offered by Citipoint because of the geographical nature of their business. No overnight margins are required by the company meaning that they are suitable for Islamic traders.
Spreads are fixed on Citipoint’s platforms. They cannot guarantee stop loss or take profit points though. Expert advisors are welcomed on their trading platforms.

Citypoint offer fixed spreads with the EU/USD spread at 2 pips. There are no other charges or commissions charged and no matter what the account there are no overnight charges or interest.
Deposits can be made by bank transfer, credit or debit card but Citipoint don’t have an online payment system, it has to be done through a bank. Withdrawals follow the same procedure and can be instigated with a withdrawal request form that is downloadable from their website. Requests received before midday will be processed that day.

Citipoint don’t offer any promotions at the moment for new traders but historically they have offered bonuses as well as trading competitions.

Citipoint seem very limited on the Forex scene compared to other brokers but their main business seems to be in other financial instruments. Their website is available in Arabic and English but the English website has many errors and confusing language so traders would need to clarify situations before relying on information on the website.
Traders report that the company’s customer service is attentive and helpful but there is limited help for new traders meaning that novices should look elsewhere until they gain experience.