COPERSTONE Forex Broker

Coperstone Forex Broker - Complete Information Guide

1. Broker Overview

Coperstone, officially known as Coperstone Group Limited, was established in November 2016. The company is headquartered in London, UK, with additional offices in Toronto, Canada. It operates as a private entity, and its primary focus is on providing forex and contracts for difference (CFD) trading services. Coperstone serves a variety of markets, catering primarily to retail clients seeking to trade in forex and CFDs across various asset classes.

Throughout its relatively short history, Coperstone has faced scrutiny regarding its regulatory status. While the company claims to maintain client funds in segregated accounts, it is not listed in the regulatory registries of prominent authorities such as the UKs Financial Conduct Authority (FCA) or the Canadian Securities Administrators. This raises concerns regarding its operational legitimacy and compliance with industry standards.

Coperstone operates under a market-making model, facilitating trading by acting as a counterparty to client trades. This model allows the broker to provide liquidity to its clients but can also raise potential conflicts of interest. The firm offers multiple account types, including micro, standard, pro, and VIP accounts, with the latter requiring a minimum deposit of $100,000.

2. Regulatory and Compliance Information

Coperstone operates in a regulatory gray area. It is important to note that the company currently lacks proper regulation from reputable financial authorities. As per the available information, Coperstone is not registered with the UK FCA or the Canadian Securities Administrators. This lack of regulatory oversight is a significant concern for potential clients.

• Regulatory Bodies: None
• Registration Numbers: Not applicable due to the absence of regulation.
• License Validity and Scope: No valid licenses.
• Legal Entities by Region: Coperstone Group Limited, registered in the UK.
• Client Fund Segregation Policy: Coperstone claims to keep client funds in segregated accounts, although this practice lacks regulatory verification.
• Investor Compensation Fund Participation: Coperstone does not participate in any investor compensation schemes.
• KYC and AML Compliance Measures: Specific details on KYC and AML policies have not been disclosed, raising concerns about the broker's commitment to compliance.

3. Trading Products and Services

Coperstone offers a limited range of trading products primarily focused on forex and CFDs.

• Forex Currency Pairs: The broker provides access to a selection of currency pairs, although the exact number of pairs available has not been specified in the available information.
• CFD Product Categories: Coperstone allows trading on major indices, commodities, and metals. However, details regarding specific indices or commodities offered are not disclosed.
• Unique Products: Information regarding any unique trading products or services has not been provided.
• Product Update Frequency: There is no available information on how frequently Coperstone updates its product offerings or introduces new instruments.
• Retail Trading Services: Coperstone primarily focuses on retail trading services, but details on the specific features available for retail clients are limited.
• Institutional Client Services: There is no mention of services specifically catered to institutional clients.
• White Label Solutions: No information is available regarding white-label solutions offered by Coperstone.
• Asset Management Services: Details on asset management services are not provided.

4. Trading Platforms and Technology

Coperstone primarily utilizes the MetaTrader 4 (MT4) platform, which is widely regarded in the forex trading industry.

• MetaTrader 4/5 Support: Coperstone supports MT4, but there is no indication that it offers the more advanced MetaTrader 5 platform.
• Proprietary Platform Details: No proprietary trading platform is mentioned in the available information.
• Web-Based Trading Platform: Coperstone does not appear to offer a dedicated web-based trading platform.
• Mobile Applications: The availability of mobile applications has not been specified.
• Execution Model: Coperstone follows a market-making execution model, which may affect the pricing and execution speed of trades.
• Server Locations and Technical Infrastructure: Specific details regarding the server locations and technical infrastructure are not provided.
• API Access and Automated Trading Support: There is no information available about API access or support for automated trading.

5. Account Types and Trading Conditions

Coperstone offers several account types tailored to different trading needs:

• Standard Account Conditions: The minimum deposit for a standard account is $600, with spreads that vary based on market conditions. Specific details on commissions are not provided.
• Advanced Account Types: The broker offers VIP accounts requiring a minimum deposit of $100,000, which may include enhanced trading conditions.
• Special Accounts: There is no mention of special accounts such as Islamic accounts or corporate accounts.
• Demo Account Policy: Coperstone provides a free demo account for users to practice trading.
• Leverage Ratios: The leverage offered is up to 1:100, which is lower than many competitors.
• Minimum Trade Size: The minimum trading lot size is typically 0.01 lots.
• Overnight Fees Policy: Information regarding overnight fees or swap rates is not disclosed.

6. Fund Management

Coperstone supports several methods for managing client funds:

• Supported Deposit Methods: Clients can deposit funds via credit cards, Neteller, Skrill, and potentially other electronic payment systems. However, information on bank transfers is unclear.
• Minimum Deposit Requirements: The minimum deposit varies by account type, with standard accounts starting at $600.
• Deposit Processing Times: Specific processing times for deposits are not provided.
• Deposit Fees: Coperstone does not charge deposit fees, but clients should confirm any fees that may be imposed by payment processors.
• Withdrawal Methods and Restrictions: Withdrawal methods include credit cards and e-wallets, but details on limitations are not specified.
• Withdrawal Processing Times: The processing time for withdrawals is not explicitly mentioned.
• Withdrawal Fee Structure: Coperstone does not charge withdrawal fees, but clients should verify any potential charges from their financial institutions.

7. Customer Support and Educational Resources

Coperstone offers customer support through various channels:

• Support Channels: Clients can reach out via phone, email, and potentially live chat.
• Service Hours and Time Zone Coverage: The exact service hours and time zone coverage have not been specified.
• Multilingual Support: Information regarding language support is not provided.
• Educational Resource Types: Coperstone does not appear to offer a comprehensive suite of educational resources, such as webinars or tutorials.
• Market Analysis Services: There is no mention of daily analysis, news reports, or research services.
• Trading Tools: Specific trading tools, such as calculators or economic calendars, have not been detailed.

8. Regional Coverage and Restrictions

Coperstone operates in various markets, but its reach is limited:

• Major Service Markets: The broker focuses on markets in the UK and Canada, but specific country coverage is not detailed.
• Regional Office Distribution: Coperstone has offices in London and Toronto.
• Countries/Regions Not Accepted: Coperstone does not accept clients from the United States, Japan, and several other countries.
• Special Restrictions: No additional restrictions have been noted in the available information.

In conclusion, while Coperstone presents itself as a forex broker with various account types and trading options, the lack of regulatory oversight and transparency raises concerns for potential clients. The absence of a robust educational framework and limited product offerings may also deter traders seeking a comprehensive trading experience. Potential clients should exercise caution and conduct thorough research before engaging with Coperstone.