CopyLiveTrade is an online financial trading platform that offers trading products including forex, cryptocurrencies, stocks, commodities, futures, bonds, and more. Despite offering a wide range of financial services and product choices, CopyLiveTrade lacks corporate registration information and regulatory details. Currently, CopyLiveTrade's official website is: https://www.copylivetrade.com/
Corporate Background of CopyLiveTrade:
The official website of CopyLiveTrade claims its headquarters are located in Sydney, Australia, but no registration information can be found on the Australian business registration website. Therefore, the registration details of CopyLiveTrade are unclear. In addition, the domain name of the company's website was registered on December 12, 2023.
Regulatory Information of CopyLiveTrade:
CopyLiveTrade claims to operate under the regulation of the Seychelles Financial Services Authority (FSA), with the securities dealer license number SD018. However, it has been found that SD018 is associated with an illegal website. The FSA issued an alert on December 27, 2023, pointing out this illegal website and provided related information links. Nonetheless, the company continues to claim on its website that it is regulated by the Seychelles Financial Services Authority.
Account Opening Process at CopyLiveTrade:
- Fill out an application form on the CopyLiveTrade official website
- Provide email and password
- Submit identification/number verification documents
- Deposit and start trading
Account Types at CopyLiveTrade:
CopyLiveTrade offers four types of accounts: Standard, Advanced, NFP, and BTC accounts. Under the Standard and Advanced accounts, there are five different account plans including the STANDARD PLAN, MASTER PLAN, PREMIUM PLAN, ULTIMATE PLAN, and CORPORATE PLAN. The NFP account is subdivided into three types: PREMIUM PLAN, STARTER PLAN, and ULTIMATE PLAN. The BTC account is divided into three types: STANDARD CRYPTO, PREMIUM CRYPTO, and PRO CRYPTO.
For example, under the standard account type, there are five account types:
STANDARD PLAN:
PIP profit margin: 20% - 25%
Minimum deposit: $3000.00
Maximum deposit: $4999.00
Trading commission: 10%
MASTER PLAN:
PIP profit margin: 25% - 30%
Minimum deposit: $5000.00
Maximum deposit: $9999.00
Trading commission: 10%
PREMIUM PLAN:
PIP profit margin: 30% - 35%
Minimum deposit: $10000.00
Maximum deposit: $19999.00
Trading commission: 10%
ULTIMATE PLAN:
PIP profit margin: 35% - 40%
Minimum deposit: $20000.00
Maximum deposit: $49999.00
Trading commission: 10%
CORPORATE PLAN:
PIP profit margin: 40% - 45%
Minimum deposit: $50000.00
Maximum deposit: $100000000.00
Trading commission: 10%
Trading Products at CopyLiveTrade:
Here is the range of trading products offered by CopyLiveTrade:
Forex:
Trading time: 24 hours a day, 5 days a week.
Currency pairs: Available through 61 currency pairs.
Commodity CFDs:
Includes trading in energy, agricultural products, and metal products.
Available as currency pairs against the US dollar or as futures CFDs.
Indices:
Spreads: The spread for 25 indices is just 0.4 points.
Features: Traders can get a broader perspective on stock markets and benefit from commission-free and round-the-clock trading on major markets.
Bonds:
Source: Various bonds issued by governments worldwide, including Japan, Europe, the UK, and the US, are available.
Cryptocurrencies:
Trading varieties: Leading and widely traded cryptocurrencies worldwide, available for both long and short positions.
Stocks:
Trading types: Offers more than 2,100 major stock CFDs from the Australian Securities Exchange, New York Stock Exchange, and NASDAQ.
Futures:
Trading types: Includes various futures from global markets, such as the ICE US Dollar Index and the CBOE VIX Index.
Platform restrictions: Online CFDs based on futures are only available on the CopyLiveTrade MetaTrader 4 platform.
Trading Software at CopyLiveTrade:
The trading software provided by CopyLiveTrade includes MetaTrader 4 (MT4) and MetaTrader 5 (MT5). These platforms are globally popular, providing traders with powerful functionalities and tools for trading, such as real-time quotes, execution of trades, technical analysis indicators, and charting analysis. With MT4 and MT5, users can easily trade, manage their accounts, and access market analysis and trading strategies.
Spreads, Leverage, and Commissions at CopyLiveTrade:
Below is the information on spreads, leverage, and commissions offered by CopyLiveTrade:
Forex:
- Spreads: Starting from 0.0 points.
- Leverage: Up to 1:1000.
- Commissions: Not mentioned.
Indices:
- Leverage: Up to 1:200.
- Commissions: None.
Commodities:
- Leverage: Up to 1:1000.
- Commissions: Not mentioned.
Stocks:
- Leverage: Up to 1:20.
- Commissions: Not mentioned.
Bonds (BONDS):
- Leverage: Up to 1:200.
- Commissions: None.
Cryptocurrencies (DIGITAL CURRENCY):
- Leverage: 1:200 for MetaTrader 4/MT5 and 1:5 for CopyLiveTrade.
- Commissions: Not mentioned.
Futures (FUTURES):
- Leverage: Up to 1:200.
- Commissions: None.
Deposit and Withdrawal Methods at CopyLiveTrade:
Regarding the deposit and withdrawal methods at CopyLiveTrade, such information has not been disclosed on its official website currently. Due to the lack of transparency in this regard, users cannot be assured of the safety and reliability of their funds.
Customer Support at CopyLiveTrade:
Email: support@copylivetrade.com
Conclusion:
When considering a trading platform, investors need to fully understand the company's background and regulatory status. However, for CopyLiveTrade, the claimed headquarters in Australia and regulation by the Seychelles Financial Authority seem questionable. The lack of related registration information and the regulatory authority's alert about its securities dealer license number being associated with an illegal website further highlight its reliability issues. Therefore, investors should act cautiously when choosing a trading platform, considering looking for more reliable options to ensure the safety and legality of their funds. Currently, CopyLiveTrade is marked as "Suspected Fraud" on TraderKnows.
