Apco FX Review
Overview of Apco Fx:
Apco Fx is a brokerage firm that claims to be a multi-instrument trading broker. The broker Apco Fx calls itself a leading brokerage house in the market and also promises to help its clients in multiplying their funds. However, the website of the broker is virtually anonymous, so if you are wondering to trust this broker with your money then better read this article.
About the Apco Fx:
The broker Apco Fx has provided addresses of two offices, one in London UK and the other in Berlin Germany, but has not mentioned where is it based. The broker provides trading in Forex, metals, and indices. The minimum deposit required by Apco FX is 1000 dollars which is like 4 times what most of the brokers in the market ask for. Surprisingly, the broker Apco Fx has got no license from any governing body neither in the UK nor in Germany. Despite this asking for this huge amount as an initial deposit seems unusual. Talking about the leverage that this broker offers, so it offers a leverage of 1:100 which is also low compared to other brokers. Whereas, the spread was fixed as high as 3 pips and the commission charged per trading is 30 dollars, so basically the actual spread is 6 pips.
The broker seems to be involved in scamming activities as its website is completely anonymous and it is not supervised by any regulatory body. Transparency and regulation are the two main characteristics that make and defines a broker legit. Brokers which are regulated in the UK or the European Union have to follow a strict code of conduct and to meet certain capital requirements. This is for assuring the safety of the funds of the traders so if the broker is not regulated by any such governing body then it means that the chances of scam are major.
Is Apco FX scam or legit?
Apco FX is an unregulated, anonymous, and a completely opaque broker. The intentions of the broker don’t seem good as its main focus is on charging the traders from every corner of trade. Moreover, on its website, you can see that despite providing important and relevant information the broker is seen to be bragging about its dreams and visions. Considering all facts and details, Apco FX is suspected to be a scam broker.