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COPYFX -

Score

1.52 /10
Danger

COPYFX

Cyprus

5-10 years

Suspicious Regulatory License

Regional Brokers

Clone Firm Belize

High potential risk

https://www.copyfx.com

Influence

A

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Comparison

Quantity 1

Exposure

Open Account
Website

Score

Regulatory Index0.00

Business Index7.05

Risk Management Index0.00

Software Index4.00

License Index0.00

Open Account
Website

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

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Broker Information

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Company Name

RoboForex Ltd

Company Abbreviation

COPYFX

Platform registered country and region

Cyprus

Company website

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Company summary

Pyramid scheme complaint

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Warning: Low score, please stay away! 3
Previous Detection : 2024-12-26
  • The claimed BelizeFSC regulation (license number: IFSC/60/271/TS/17) is verified as a clone firm. Please pay attention to the risk!
  • The CyprusCYSEC regulation (license number: 191/13) claimed by this broker is suspected to be clone. Please be aware of the risk!

WikiFX Verification

Exposure

1 pieces of exposure in total
Pyramid scheme complaint
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COPYFX · Company summary
COPYFX Review Summary
Founded2014
Registered Country/RegionCyprus
RegulationCYSEC (Suspicious clone), FSC (Clone firm)
Market InstrumentsForex
Demo Account✅
Leverage/
Spread/
Trading PlatformMetaTrader 4, MetaTrader 5 and R StocksTrader
Copy Trading✅
Min Deposit$100
Customer Support24/7 live support
Tel: +593 964 256 286
E-mail: info@roboforex.com
Facebook, YouTube, Telegram, WhatsApp
Address: 2118 Guava Street, Belama Phase 1, Belize City, Belize
Regional 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.

CopyFX's homepage

Pros and Cons

Pros Cons
Demo accountsSuspicious clone license of CySEC
Multiple account typesClone license of FSC
Copy tradingRegional restrictions
Popular payment optionsLimited trading asset classes
24/7 live supportComplex commission structure

Is 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 Clone
Regulated by Cyprus
Licensed Institution Robomarkets Ltd
Licensed TypeMarket Making (MM)
Licensed Number191/13
Suspicious clone CySEC license
The Financial Services Commission (FSC)
Regulatory Status Clone Firm
Regulated by Belize
Licensed Institution ROBOFOREX LTD.
Licensed TypeRetail Forex License
Licensed NumberIFSC/60/271/TS/17
Clone FSC license

What 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.

Account comparison

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.

Account types

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.

COPYFX Fees

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, WebBeginners
MT5✔PCs, mobile, WebExperienced traders
Trading platforms

Deposit and Withdrawal

COPYFX offers Visa/MasterCard, Neteller and FasaPay to make a deposit.

Payment options

User Reviews

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User comment

3

Comments

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。24192
more than one year
UI is nice and easy to use. Spreads are good for most products, but holding costs, especially for commodities, aren't great. That's why I decided to stop using COPYFX.
UI is nice and easy to use. Spreads are good for most products, but holding costs, especially for commodities, aren't great. That's why I decided to stop using COPYFX.
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2024-02-02 17:08
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陈安生
more than one year
COPYFX is a fake broker. This is a complete out and out scam. Do not invest at any level, they will draw you in by sending you the first bit of profit then when they find out you are not going to invest the 25k they suggest it all goes quiet, wont respond to calls and wont approve any further transfers.
COPYFX is a fake broker. This is a complete out and out scam. Do not invest at any level, they will draw you in by sending you the first bit of profit then when they find out you are not going to invest the 25k they suggest it all goes quiet, wont respond to calls and wont approve any further transfers.
Translate to English
2023-03-13 18:04
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