Coperstone is a forex and CFDs on some major indices, plus oil and metals. There are four live trading accounts: Micro, Standard, Pro and VIP with the minimum deposit for the VIP account reaching the rather outrageous sum of $100 000. There is also a free demo account and a partner account, as well as MAM accounts for money managers.
The Company. Security of Funds
Company Country Regulation
Coperstone Group Limited UK None
There is not much information about Coperstone, besides that it has offices in London (on Canary Wharf) and in Toronto. Our check revealed that Coperstone is not present neither in UK’s FCA Financial Services Registry, nor in the list of the Canadian Securities Administrators. This suggests the broker is not regulated, but it is not claiming to be either way. It only says it keeps the client money in segregated accounts.
The UK Companies House registry revealed that there is a company Coperstone Group Limited, which has been registered in November 2016 with a capital of GBP1 and its nature of business is “Other information technology service activities”. The owner is a US citizen born and living in Bogota and the company’s correspondence address is on the British Virgin Islands, which is an offshore zone.
It is always a much better idea to do business with a properly regulated broker, especially by UK’s FCA, and there are plenty of those.
Like the majority of forex brokers Coperstone offers MetaTrader4 (MT4). This platform, first launched more than 10 years ago, is the standard choice for most brokers, both big and small, and enjoys a massive popularity in the forex trading industry.
The platform is stable and reliable, has many functions, offers API connectivity, supports PAMM and MAMM functionality and has a wide selection of technical analysis and charting tools. It is also user-friendly and supports Expert Advisors and automated trading.
Most likely its popularity will eventually wane, after its developer MetaQuotes recently announced it is stopping the support and development of MT4 in favor of its successor MetaTrader 5.
Methods of payment
Coperstone accepts client deposits with credit cards and through the Neteller, Skrill, eHKonnect electronic payment systems.
We could not find information about funding through bank transfers.
Coperstone is an unregulated forex broker that is registered in the UK. According to the Companies House filings, it is very new and may be pending a license from the country’s FCA. But for the time being it remains an unregulated broker and people willing to trade with it, should be extremely cautious.
Besides, it has very high minimum deposit requirements, starting from $600, which is way above the average industry standard and is plain ridiculous for an unregulated broker. The leverage of 1:100 is also low, so we suggest you look for another forex broker with better conditions and preferably a properly regulated one.
Coperstone Review Conclusion
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