Heard of Tickcopy forex broker? Uncertain if the broker is a scam or genuine platform? We know trading good amounts of money on a safe and licensed brokerage is one of the crucial indicators that cross the mind of every trader or client.
This content promises to share helpful Tickcopy review to support clients/traders in making the right decision. Kindly read to the end and make your verdict.
Tickcopy FX otherwise known as Tickcopy.com is an offshore brokerage with a lot of promises for forex traders. The forex company claims to offer crypto investment services to their clients.
What’s more, the brokerage promises different instruments like forex, stocks, commodities, crypto, bonds and indices.
Is Tickcopy.com a Scam Forex Broker?
First of, Tickcopy FX presents its headquarters at St., Kingstown, Saint Vincent and the Grendadines.
But, Saint Vincent and the Grenadines SVG is an offshore zone with no broker regulations in place. As soon as you open the website of the local Financial Services Authority you see a warning that the institution does not license forex and other types of brokers and does not supervise the activities of International Business Companies engaged in such activities.
Next is, the broker claims that a group of companies are behind this website, including one licensed by Australian Securities and Investments Commission (ASIC). When you see things like license claim, newbies simply accept it.
In order to clear the suspicions, A check of the ASIC register shows that there is no company with that name or with the registration number given.
As far as we’re concerned, this is the one of the most ambiguous yet common remarks made by scammer entities, helping them become as vague as possible but yet retaining the illusion of being legit.
These drawbacks are for forex traders/ clients to avoid losing money with scam brokers lurking online. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
Does Tickcopy Have Account Types?
Tickcopy offers different trading account for clients. According to the account descriptions, the broker offers a leverage max 1:500 and spreads of 3 pips.
Tickcopy offers $500 as its minimum deposit based on the account type. This is a ridiculous start for traders compared to some leading and licensed brokerages.
Considering safety and regulation, you should better stay with a legitimate broker that clearly spells out its regulation and license credibility with no string of fraud, and clients can start trading as low as $100 with the assurance of their trading funds.
Tickcopy FX claims to accept bank transfer, UnionPay and cryptocurrencies.
There are a few reasons why scam brokers prefer to receive payments in crypto. One, transactions are irreversible and untraceable.
Just so you know, offshore brokers are commonly known for accepting crypto currencies. For this purpose, payments made through this method are anonymous and can only be traced to a wallet address and not to a specific person. So beware!
Tickcopy Withdrawal process And Trading Software
Tickcopy withdrawal leaves us with no specific information on withdrawal fee nor processing days on withdrawal request. The broker provides no clear description on trade requirements that must be met before a withdrawal.
The broker claims to offer industry trading software MT4. The presence of a trading software does not make this brokerage any more legitimate and does not guarantee that this alleged broker offers real trading.
Why use forex brokers with advanced trader like MT4/MT5? You are certain to have the best features of real-time quotes, financial news and various FX and stock charts, as well as algorithmic trading sessions with the help of specially designed trading bots, called Expert Advisors.
Honestly, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
Argument Against Trading With An Unlicensed and Unregulated Broker ( Tickcopy.com)
Like in any corporation, integrity is a key to uphold these days. It doesn’t matter if you make a lot of money but you can’t take it out. That is to say, exactly what is happening with non-licensed companies.
Having said that, it is not far from believing that Tickcopy.com is not a licensed brokerage firm. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
COMPARE WITH A TRUSTED BROKER
Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website
Tickcopy located at Tickcopy.com appears like a trustworthy trading broker, however, you should not take the words they say and the attractive website layout. By all appearances, we would advise traders to steer clear from unlicensed forex broker as it likely a platform run by scammers. Thus, we urge our readers to rely on regulated brokers like this or any licensed entity.
Was the post helpful? Please share with us your experience in the comment section below. Thank you!