COPYFX Forex Broker

COPYFX Review SummaryFounded2014Registered Country/RegionCyprusRegulationCYSEC (Suspicious clone), FSC (Clone firm)Market InstrumentsForexDemo Account✅Leverage/Spread/Trading PlatformMetaTrader 4, MetaTrader 5 and R StocksTraderCopy Trading✅Min Deposit$100Customer Support24/7 live supportTel: +593 964 256 286E-mail: info@roboforex.comFacebook, YouTube, Telegram, WhatsAppAddress: 2118 Guava Street, Belama Phase 1, Belize City, BelizeRegional RestrictionsThe USA, Canada, Japan, Australia, Bonaire, Curaçao, East Timor, Indonesia, Iran, Liberia, Saipan, Russia, Sint Eustatius, Tahiti, Turkey, Guinea-Bissau, Micronesia, Northern Mariana Islands, Svalbard and Jan Mayen, South Sudan, etc. Founded in 2014, CopyFX is a broker registered in Cyprus, offering forex trading through the MetaTrader 4, MetaTrader 5 and R StocksTrader platforms. However, it currently has no valid regulations.Pros and ConsPros Cons Demo accountsSuspicious clone license of CySECMultiple account typesClone license of FSCCopy tradingRegional restrictionsPopular payment optionsLimited trading asset classes24/7 live supportComplex commission structureIs COPYFX Legit? COPYFXs license of the Cyprus Securities and Exchange Commission (CySEC) has been regarded as a suspicious clone license. Additionally, the Financial Services Commission (FSC) regard it a clone firm. Therefore, it is not a legit broker as their regulatory status and validity of these licenses are questionable.The Cyprus Securities and Exchange Commission (CySEC)Regulatory Status Suspicious CloneRegulated by CyprusLicensed Institution Robomarkets LtdLicensed TypeMarket Making (MM)Licensed Number191/13The Financial Services Commission (FSC)Regulatory Status Clone FirmRegulated by BelizeLicensed Institution ROBOFOREX LTD.Licensed TypeRetail Forex LicenseLicensed NumberIFSC/60/271/TS/17What Can I Trade on COPYFX? COPYFX focuses on forex trading.Tradable Instruments Supported Forex✔Commodities❌Indices❌Stocks❌Cryptocurrencies❌Bonds❌Options❌ETFs❌Account Type COPYFX offers two basic accounts: Cent accounts and Pro accounts, with a minimum deposit requirement of $100. Besides, to trade forex, they also offer other types of accounts including ProCent, Pro, ECN, Prime, Pro-Affiliate, ECN Affiliate, Cent Affiliate and R StocksTrader account.COPYFX Fees The copied transaction commission ranges from $1 to $10. Besides, commissions are charged when: 1. The investment period ends: Paid Saturday at 1:00 AM server time (“Volume Fee” and “Performance Fee”) or Sunday night, transferred Monday (“Subscription Fee”). 2. The investor cancels the subscription: Paid minutes after cancellation. Note: No commission is earned under the “Trader without commission” scheme.Trading Platform COPYFX supports MetaTrader 4, MetaTrader 5 and R StocksTrader platforms (CopyFX in R StocksTrader is available only in the mobile application and in the mobile version of the platform).Trading PlatformSupported Available Devices Suitable for Web-based✔Web/MT4✔PCs, mobile, WebBeginnersMT5✔PCs, mobile, WebExperienced tradersDeposit and Withdrawal COPYFX offers Visa/MasterCard, Neteller and FasaPay to make a deposit.