Minimum Deposit: $600
Maximum Leverage: 1:100
My Score: 2.0
Coperstone is a forex/CFD broker that registered in both Vanuatu and UK. Coperstone Limited is registered in Vanuatu and Coperstone Partners Limited registered in the United Kingdom. They have two offices in the United Kingdom and Canada according to their website.
Expert Advisor & Robot Trading, scalping and hedging is allowed on Coperstone and maximum leverage ratio they offer is 1:100 for all account types.
There are many mistakes on Coperstone’s website. On the main page, you can see that Micro Account section is half Italian – half English. And also, they wrote Expert Advisor wrong. These are another reasons for me to believe that Coperstone is not a serious forex broker.
So is Coperstone reliable or scam broker? Which account types and trading platforms they offer? What are the deposit and withdrawal methods on Coperstone? If you are wondering answer of those questions, you can read my Coperstone review.
There are problems with Coperstone’s regulation. Coperstone Limited is regulated by Vanuatu Financial Services Commission (VFSC) but Coperstone Partners Limited is not regulated by the Financial Conduct Authority (FCA) in the UK. Theoretically, they are regulated broker but I would expect the company that registered in the UK to be FCA licensed.
I also checked their VFSC license on VFSC’s website and yes, they are regulated by VFSC. New forex brokers like Coperstone usually trying to obtain licenses from VFSC because it is way much easier than getting licenses from FCA (Financial Conduct Authority), CySEC (Cyprus Securities and Exchange Commision) or ASIC (Australian Securities and Investment Commission).
Account Types and Spreads
Minimum deposit amount is $600 at Coperstone and I can say this is very high limit than other forex brokers. Coperstone offers 4 different account types. Mini Account ($600 Starting Deposit), Standart Account ($3.000 Starting Deposit), Pro Account ($20.000 Starting Deposit) and VIP Account ($100.000 Starting Deposit). Also, they offer MAM account type.
Average spread is 0.4 pips for every account type but in addition to this spread, Coperstone adds spread markups. Also, CFD’s are only available on Pro and VIP accounts and cryptocurrencies are not available. Stop out level is %25 at Mini & Standart accounts, %30 at Pro & VIP account types.
There are not many choices in terms of investing instruments on Coperstone and I think this is their biggest disadvantage of them. Only a few CFD’s, Crude Oil, Gold & Silver and no cryptocurrencies.
Coperstone offers deposit & withdrawal methods like Credit card, Skrill, Neteller, Bitcoin and Entropay. Also, according to their website, charges may apply when deposit or withdraw money.