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Coperstone Review – is it scam or safe?

Coperstone Review  – Is coperstone.com scam or safe forex broker?

RATING: 1 / 18 REVIEWS Coperstone
Coperstone is an offshore broker. Your money is not safe.

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 Trading accounts and conditions

 

Account type Minimum deposit Minimum trade size Maximum leverage Average spreads
Micro $600 0.01 lot 1:100 0.4 pips + 1.6 pips Markup
Standard $3000 0.01 lot 1:100 0.4 pips + 1.2 pips Markup
Pro $20 000 0.10 lot 1:100 0.4 pips + 0.9 pips Markup
VIP $100 000 0.10 lot 1:100 0.4 pips + 0.5 pips Markup

 

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
Coperstone Ltd Vanuatu VFSC 

 

Update: This broker has apparently created several new companies, associated with the brand, one of which is registered in Vanuatu and is registered with the local Financial Services Commission (VFSC). That being said, the UK’s FCA has also issued a warning against the.

 

>>Find an FCA-regulated broker here<< 

 

Old review text: 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.

 

Trading conditions

 

Minimum Initial Deposit

Even the smallest account type at Coperstone requires a bigger investment than what a mjority of the industry leaders have to offer. Nowadays, $100 is considered somewhat of an average level, as demanded by the FCA regulated long-timers from HYCM.

 

Average spreads & Commissions

The costs of trading at Coperstone are presented in a rather unique way, with the commissions being displayed separately from the raw spread. Most brokerages who operate under such a model will provide a roundturn cost per lot, which you will then have to convert into effective spread. Despite the cleaner presentation, the spreads provided by this broker aren’t that impressive, except for the ones demanding a hefty investment.

 

>>Compare forex spreads here <<

 

Leverage

The maximum leverage with Coperstone is 1:100, which is an average ratio. While many brokers have offers even greater “gearing”, we would advise you to proceed with caution.

 

 

Trading platforms

 

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.

 

Conclusion

 

Coperstone is an offshore forex broker, regulated in Vanuatu. They also have a UK-based company, which isn’t affiliated with the local financial watchdog. In fact, the public has been warned against dealing with this company in May 2018. 

 

>>Why we don’t like offshore brokers<<

  

Besides, Coperstone has very high minimum deposit requirements, starting from $600 and the trading conditions aren’t that impressive.

 

Pros Cons
MT4 Unregulated
Decent spreads High minimum deposit

 

Latest news about Coperstone
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Traders` reviews for Coperstone

Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

Coperstone is shady firm - beware!!!!

I invested 480usd to trading. I've made some profits, then I had a loss. later I restored initial balance and wanted to quit. I tried to withdraw money, but portfolio manager Bryant Fox (I believe it is not his real name, just fake for clients) called me and said withdrawal was denied because I didn't earn 500 usd. He sent me a sheet of kinda "rules" which says:
"You must request the withdraw in the same payment method you have deposited, if you have profits you need to do 2 withdraws, one for the net deposits , which should be on the credit card you have deposited, or same bank that wire was made. The other one for the profits will be in a wire transfer. Please note that we can’t send wires transfers that have the amount smaller than 500 USD, this means that if you want to withdraw your profit, you need to have at least a profit of 500 USD or more.
There will be a $44.00 USD outgoing wire transfer fee subtracted from the profit withdrawals, or a 4% charge for initial net deposit to credit card (If monies deposited in other currencies other than USD, that charge will be equivalent to $44.00 USD)."
My amount is not large, but still its my money and I want the back.
I am lucky, that I refused several times to pay more money for trading when that pushy Bryant Fox called me and ant tried to persuade.
And now I know that the company is total scam, so beware and never ever pay a single penny.

Egle 07/17/2018

scam

Hello,
I had a bad experience with coperstone/apexsignal broker named jhon Robert
we started trading in the end of March in the end of May i didn't understand what he did , he opened a position and in mean time he closed it with negatif
i didn't undrerstand what happend , itryed to contact his and his company but no answer.
I lost around 27000 usd , and i don't know how can i get my money back
If someone can help me i will really be gratfull.

Rachid Chaiboun 07/11/2018

Scam alert!!!

Scam alert!!! I have been trading with Coperstone for just under two months, I have made alot of money been a new be in the online trading world I started with 1300 dollars the company, Coperstone, offered me a 100% trading credit. What they didn't tell me was I needed to make up 1000 times the amount to make my first withdrawal. So after making over 10000 dollars I requested a withdrawal of 2500 dollars and then only was told I don't meet the terms and conditions of a withdrawal and was pointed to the company's website which had the terms and conditions of the trading credit. After reading this I had no choice but to continue trading. Everything seemed fine until I get a call from the "head of strategy " saying to me I was "scalping" and made me close all my positions. After closing all my positions the account manager made me take a trade on currency that within a second closed my position and a huge loss of 22k dollars the account manager never replied to my emails he had blocked me off Skype. The company has not yet reacted to my claims of the account t manager knowingly made me loose all my money but did say they will investigate the matter. Anyone with any advice that could help me get back my money will be highly appreciated. Thank you my email address Is [email protected] contact +27847557380

Neaven Salickram 07/07/2018

robbing xxxxxxxxx

they tell you a lot make you feel confident in them and they put your accounts in jeopardy stopping you from withdrawing any funds before wiping your account out and taking any hope of a good life away ..

paul greenwood 05/29/2018

Coperstone wanting a bigger deposit

invested 3000 with coperstone have made money on
4 out of 5 trades want a large investment so have margin to work with
have dealt with Randy Silvermann routed through a bank in the check republic because of exchange on American money I am Canadian
trying to figure out if the are legit or not

brian mathews 05/22/2018

Coperstone Trading - Not happy with the outcome

I was cold called by a guy from Apex Signals who introduced himself and told me that he wished me to check out their website and in the course of that lead me to the Coperstone site and after some log in issues finally opened an account and funded it on the premise I would have an experience trader working with me. This gentleman however gave me a trade to get started "in order to build trust" and it did actually produce a small profit. The following day I was contacted by the senior analyst who also gave me 2 trades a buy and a sell. I had initially funded the account with $1,000 - I have trading experience going back to 2012 and felt I could also place trades too and had taken my balance to $2600 but hat 2 trades with negative equity and was required to add further funds to "carry" the trades. I was in contact with the analyst/trader who added another trade but then seemed to do no more to offset the potential losses and in the course of the next 24-36 hours my account was margin called losing virtually all deposited funds. There was equity available to hedge the positions but no action was taken and they were closed due to exhaustion of funds. To say I was disappoint only goes some of the way to express my disappointment and have just called to speak to the analyst but he wasn't available to discuss the situation with me. I contacted my bank to explain what happened but was advised to talk to Coperstone first to resolve the matter if possible.

Not happy with the outcome of my trading.

Kenneth McPherson 05/10/2018

Coperstone Apex Signals Scam

Absolute scam. regulated in vanuatu not even fca regulated. the platform is none user friendly and they want you to sign up to the website straight away without doing your research. they will tell you they have loads of experts but it is just a load of phone pigs dialing away like maniacs in a small office. Boiler room is the right word they pray on employing uneducated people who they can mould into scam artists. impossible to withdraw from platform and will keep getting you to redeposit giving people small hope but ultimately with the dream of rinising you out. Use someone like plus500 or etoro instead of these guys.If someone is ringing you 30/40 times a day it isnt legit. You wont be able to get through to them i tried as they rang me on a 0203 number. they will tell you they also run a site call apex signals which is a redunant website to try and get people in with the hope of learning and using sales techniques to get you through to coperstone. look at the app and see how many downloads it has had about 100 max on android. if they had been going for 15 years i doubt that they would have less than 100 downloads on the app. If your stupid enough to fall for this then i guess you deserve to get your money taken away. I guess it is like a restaraunt...if it was so popular and they were doing so well why would they need to ram it down your throat.they rely on new business and once the money is in the platform it has gone from your hands into theirs. Also they offer bonuses through a credit company they own whereby there are terms and conditions which mean you have to pay through the bonuses maybe ten times over the deposit level. They own the platform so the vested interest is with them as it is 100 percent profit on their side. They set up bolier rooms and people use fake names (try and look the people up on linkedin for example) no trace of these people it is all invented. I think they are based abroad too as i did my research on many of these companies and to bipass UK laws they form offices in spain and other countries whereby they cant be prosecuted.

dave stewart 04/03/2018

Coperstone - don't trade with this people

This company has, yet again taken money from me promising the world and giving me less than a crust. Same old "we can give you between 25-75% return of capital within a month". Bollocks, they cut and run. Opened a trade and did`t put a stop loss on. About $8K down drain. Guy said manager was getting a divorce and just walked out. ADVICE, DON`T TRADE WITH THESE PEOPLE.
Also Binary Online, Russian roulette, same old "Gimme Gimme Gimme" all gone nothing to show. ADVICE, DON`T TRADE WITH THESE PEOPLE.
Hope it helps.

Tony Dakers 03/26/2018

Pure scam

Hello,

I was contacted by Jhon Robert who offered to help me in my trading. I invested $ 2,000 and he made me take some medium quality trades. As I was not satisfied with his services, I asked for a withdrawal of my money which was impossible. At this moment his manager asked me to take a trade which immediately made me lose $ 3872. Error or manipulation I do not know. So I asked for an explanation and was told that it could happen and that to allow me to win next time, they "loaned" me $ 1,000 and I had to put $ 1,000. At that time Jhon Robert told me he wanted to recover the losses and he made me take a trade that made me lose $ 613 because I stopped it before it was worse. I was absolutely furious to see how Coperstone treats its customers that I did not answer the phone for 1 week. At the end of this week, Jhon Robert wrote to me that he wanted me to get everything back and took me a trade that also instantly brought me down to - $ 1625. That's from this moment more phone, no more answer. THE SILENCE.

Conclusions: never invest, NEVER 1 penny at Copperstone

Jean-Paul 03/17/2018

A scam - multiple sites

We found they own multiple sites in Montserrat, which include binary trading
This is a con Job in Canada!

The server coperstone is on hosts 20 websites:

1. 121clearing.com
2. 1binaryworld.com
3. abakusfx.com
4. abakusglobal.com
5. accuindex.com
6. alphafinex.com
7. clubfx.com
8. coperstone.com
9. corrfx.com
10. csi-fx.com
11. fxcscapital.com
12. fximperium.com
13. itbbanks.com
14. logipip.com
15. newcapitaloptions.com
16. originforex.com
17. primexfx.com
18. rangeforex.com
19. skyclearing.com
20. tdmarkets.com
21. wdcmventures.com

Canadacommunity.org 03/15/2018

Do not put any money into COPERSTONE !

I was contacted by Benjamin Simmons and i deposited $1000 USD into an account. He rarely called me to make trades and the first trade he made lost me all of my initial investment. The company zeroed my account and I had my initial investment back and we made a few more trades which did make money. Then he asked for more money. I told him i didn't ave any more money to invest, so they removed the company credit they offered me and i told him i would be taking out my investment.
They would not let me take out my money. They called me saying that their policy was that for every $500 I invested I had to make $1000 before I could withdraw my money, or I had to make 20 trades.
They sent me a compliance document saying I had to sign it which had all the terms and conditions in it. This was only after I asked to withdraw my money.
I was moved to the "risk management dept" and broker Randy Silverman, he did a few trades with me until he lost all of my money on one huge trade that wiped out my account.
This is definitely a scam. Please don't invest in them you will only lose your money.

Jared 10/18/2017

Coperstone is definitely a SCAM!!! A Chinese Company.

Hi guys,

Coperstone are definitely a SCAM!!

Their analyst Kevin Snow called me to invest $600 which he said he would help place a trade. I took the opportunity and invested $300 on an Ethereum trade based on their recommendation.

The following day, I was called by Benjamin Simons who wanted me to invest another $300 as he was saying the trade was risky based on on Kevin's recommendation. I told him no and a few hours later, after checking the trade, the $300 was gone. When I called to inform them, they said there was nothing they could do and I was warned by them that I should've add another $300.

Their website says they are based in the UK and Canada, however after calling my bank, their banking account is based in CHINA!!

I would caution anyone wanting to use Coperstone TO AVOID THEM as your money will be GONE!!!

Byron

Byron Howes 09/22/2017

Coperstone withdraw

Mi asesor es Benjamin Simons, he querido hacer un retiro de 500 dolares y van tres ocaciones que me dice que en una semana van a depositar mi dinero, ya hace un mes que en tres ocaciones me dice lo mismo, falta seriedad en esta persona o tal vez sea la polìtica de este broker no dar permitir retiros.
Sugerencia no confien en este broker.

Translated by Google:

My advisor is Benjamin Simons, I wanted to make a withdrawal of 500 dollars and go three times that tells me that in a week they are going to deposit my money, and for a month that in three times tells me the same, lack seriousness in this person or It may be the policy of this broker not to allow for withdrawals.
Hint do not trust this broker.

Feerico Jimenez Serrano 08/22/2017

SCAM

DON'T GO IN WITH NOTHING! ITS A SCAM! You never see you money back even if your good and make profit. THEY JUST WON'T LET YOU WITHDRAW !!!

- 08/09/2017

Coperstone Limited es un scam

Hola, quiero quejarme de esta compañía, les deposité primero mil dólares y unos días después deposité otros 1,200 y me aconsejó un señor Randy Silverman y gané como 550 dólares. Hicieron transferencias de mi número de cuenta a otra que la llaman "trading account"; con un saldo de 2,729 dólares no me dejan retirar 200 dólares que necesito, no puedo contactar a ninguna de las personas on las que tuve contacto, creo que es un fraude maquinado

Translated by Google:

Hello, I want to complain about this company, I deposited them first thousand dollars and a few days later deposited another 1,200 and I was advised by a Mr. Randy Silverman and I won as 550 dollars. They made transfers from my account number to another that they call a "trading account"; With a balance of $ 2,729 will not let me withdraw $ 200 I need, I can not contact any of the people I had contact with, I think it's a machined fraud

Tomás de Jesús Loera y Molina 07/06/2017

Coperstone: Scam and Thieves

Benjamin Simons as well as Megan Jhonson are two persons to claim to work with you in Canada. These two characters are a piece of shit that scam you with 600 USD in just two days and don´t even give a fuck about the trust and the money you are investing. I told and enphasize Megan that I would invest the 600 usd only if the investment would grow and then perhaps Id invest more money in order to get more profit, but she put me down with an asshole person whoe's name is Benjamin Simons and this guy just not even took care of my capital but he also presured me to invest 1500 USD more to get profit!!! I told him that in that moment I was not going to risk 1500 usd because I needed proof of his work he showed off at the begining of the trading process and at the end this stupid jerk, did not even pay attention to my investment but only let me lose 566 USD IN TWO DAYS!!! Mother fucker i just wish to have him in front of me and kick his ass in front of all his team mates in this coperstone organization!!! Fuck you Benjamin I hope you get fired and live in hell!!!

Carlos Alberto Hernández Santamaría 06/20/2017

Coperstone: Fraud of 4,500 $

Hello,

I've been contact by one of your Broker to invest in your platform. Jhon Roberts contact me to help me invest with him. Mr Roberts ask for more and more money to make a good deal and loose all my money and refuse to talk to me to explain me why.

I'd like to be contact to have my money back because Mr Roberts plays with my money to prove himself is a good brooker.

Please answer me cause it was a great loss for me, and Mr Roberts do not care.

Denis Thibault 06/13/2017

Excellent Broker

great spreads easy to manage system and well integrated signal service, regulation listed on site and MT4 with various instruments. really enjoy the platform

timothy bendfield 04/18/2017
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