Thinking of getting into business with WestpointFX? Here is what you must know about this broker. Carefully read this review to find out if is the trading platform you will want to trade with.

About WestpointFX  Broker

WestpointFX is an offshore brokerage company with a lot of promises for traders. The broker address shows it is from Zurich.


There are different account type the broker offers.

Account Types

To clarify, regardless of the trading instruments WestpointFX claims to offer, traders must know they are dealing with an unknown broker which does not have a regulation over its head. Reasons to Avoid This Broker

Firstly, is a platform with no financial authority overseeing its financial services. We discover this broker is not worth your money because it is not an approved entity under Swiss Financial Market Supervisory Authority FINMA.

Secondly, we noticed 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, WestpointFX  withdrawal process takes 3 working days. Added, the broker charges $50 on any withdrawal.

Minimum Deposit

WestpointFX  minimum deposit is pegged at €250 according to the account type.

As for the payment methods, the broker provides us with no details on payment options. Truly, you should not consider making any payment with this broker because it is a risk. So beware!

WestpointFX Platform

WestpointFX claims to offer MT5 (Industry standard trading platform), however, that doesn’t make the broker legit because any scam broker can do the same to lure forex traders.

As for the leverage, the broker discusses 1:100. 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.

WestpointFX 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.

Instead, Trade with TOP RATED BROKERS


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Licensed in UK(FCA), Dubai(DFSA), St Vincent and the Grenadines, Cyprus(Cysec) and Cayman Islands

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Minimum Trade Deposit $100

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Licensed in UK(FCA), Australia(ASIC), Belarus(NBRB) and Canada(IIROC)

Accepts Traders Worldwide

Minimum Trade Deposit $100

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Licensed in Australia(ASIC) and Cyprus(Cysec)

Accepts Traders Worldwide

Minimum Trade Deposit $100

Maximum Leverage

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Conclusion: Is a Reliable Broker?

No, 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.

By Dan

One thought on “WestpointFX Review: Why Is Not Reliable Find Out!”
  1. I invested £4000 with this company and to receive nothing back, when it comes to withdrawal and I have no money left the broker asks for £1,000 in commission to which I had informed him I didn’t have when I was doing the last deposit I had informed him this was the last bit of cash I had and he didn’t say anything i was fortunate enough to come across a chargeback firm that tracked and recovered my funds back . Sloppy brokerage firm scamming people and poor customer service if you’ve fallen victim to this scam lodge a complaint to for swift action to be put in place for you to get back your money

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