COPYFX-Some important Details about This Broker

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 Cons

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.

What Can I Trade on COPYFX?

COPYFX focuses on forex trading.

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).

Deposit and Withdrawal

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