Score
COPYFX
Cyprus|5-10 years| https://www.copyfx.com/
Website
Rating Index
Influence
Influence
A
Influence index NO.1
Germany 6.83Contact
- The claimed BelizeFSC regulation (license number: IFSC/60/271/TS/17) is verified as a clone firm. Please pay attention to the risk!
Basic Information
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Website
Most visited countries/areas
Russia
Iran
copyfx.com
Server Location
United States
Most visited countries/areas
Website Domain Name
copyfx.com
Website
WHOIS.GODADDY.COM
Company
GODADDY.COM, LLC
Domain Effective Date
2010-08-09
Server IP
104.28.24.78
Company Summary
| 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 |
Deposit and Withdrawal
COPYFX offers Visa/MasterCard, Neteller and FasaPay to make a deposit.
Keywords
- 5-10 years
- Suspicious Regulatory License
- Regional Brokers
- Clone Firm Belize
- High potential risk
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