The broker Apco FX may be situated in the United Kingdom or Germany. It claims to be a leader in a multi-instrument trading broker services provider. It makes an allegation that the investments made with this broker will grow multifold using world-class investment plans and strategies. There are many markets segments offered for trading with higher leverages on the MetaTrader trading platform. Nevertheless, the broker is not licensed to offer its brokerage services. This Apco FX review is built on several facts that must be known before trading with this broker. Therefore, without further ado let’s go ahead and discuss them one by one. Shall we!
About Apco FX:
The broker Apco FX is anonymous and unregulated. Apart from London and Germany based addresses, we could not find the name of the owner of this broker. As broker’s claims to be taken into account it must be regulated by the Financial Conduct Authority of the United Kingdom or BaFin of Germany. However, our vigorous research could not find the name of Apco FX in their registry. Transparency and regulation are the most critical factors in trading and brokers failing to provide this must be treated as a scam broker.
The withdrawal terms and conditions of Apco FX are absurd. The broker will not let you take out your profits also there is no time frame mentioned to process the withdrawals. It also applies 10% for a monthly dormant fee.
The minimum deposit at Apco FX starts from 1000 USD. This deposit is so far fetched that after first deposit the broker will no longer need to entertain traders query. The leverages of 1:100 can be seen on the trading platform. As far as spreads concerned they are capped at 3 pips on EURUSD forex pair and 30 USD commission. It is far more than expected and calculated as 6 pips.
The third-party provided MetaTrader is offered by Apco FX. Holding Services LTD is the provider of MT and its corporate status is unknown. The preferences on Bitcoin payment is given by Apco FX however credit cards and electronic wallets are also accepted.
Is Apco FX scam or legit?
The broker claims to be operational from the UK and Germany but does not have proper regulation by FCA and BaFin. The initial investment is whooping high at 1000 USD. The spread of 6 pips is not acceptable for any broker. The MT is offered by another unknown entity. All this is sufficient to call Apco FX is a potential scam broker 2020.