COPYFX-Some important Details about This Broker

WikiFX | 2024-12-31 13:55

Resumo：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 Review Summary
Founded	2014
Registered Country/Region	Cyprus
Regulation	CYSEC (Suspicious clone), FSC (Clone firm)
Market Instruments	Forex
Demo Account	✅
Leverage	/
Spread	/
Trading Platform	MetaTrader 4, MetaTrader 5 and R StocksTrader
Copy Trading	✅
Min Deposit	$100
Customer Support	24/7 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 Restrictions	The 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 Cons

Pros	Cons
Demo accounts	Suspicious clone license of CySEC
Multiple account types	Clone license of FSC
Copy trading	Regional restrictions
Popular payment options	Limited trading asset classes
24/7 live support	Complex 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 Type	Market Making (MM)
Licensed Number	191/13

The Financial Services Commission (FSC)
Regulatory Status	Clone Firm
Regulated by	Belize
Licensed Institution	ROBOFOREX LTD.
Licensed Type	Retail Forex License
Licensed Number	IFSC/60/271/TS/17

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.

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 Platform	Supported	Available Devices	Suitable for
Web-based	✔	Web	/
MT4	✔	PCs, mobile, Web	Beginners
MT5	✔	PCs, mobile, Web	Experienced traders