Company Profile
General Information & Regulation
Apco FX is an online broker registered in Germany, with its founding time, actual address, and the company behind it unknown to all. Apco FX does not fall under any regulatory agency so far.
Market Instruments
Trading assets available on the Apco FX platform seems pretty average, only three kind: currency pairs, indices, and metals. Some popular instruments like commodities, crypto currency, and stocks are not offered.
Minimum Deposit
Apco FX requires an initial deposit of at least 1000 USD and that is about four times the amount most brokers would usually ask for. This is exactly how a scam broker tries to scam innocent traders by requiring absurdly account opening funds.
Leverage
When we tested Apco FX platform with a demo account the maximum leverage we were offered was 1:100. Although this leverage level seems conservative, trading with Apco FX, an unregulated broker, is obviously not a good option.
Spreads & Commissions
With regard to spreads offered, as tested with a demo account the benchmark EURUSD spread was fixed as high as 3 pips. On top of that, when we made a trader it turned out that a 30 USD commission per trading lot was charged, which basically adds another 3 pips to the actual spread, making it 6 pips. Be aware that 6 pips for the EURUSD pair is about four times higher than the spread traders would usually find attractive with a standard account and no trading commission.
Trading Platform Available
Apco FX offers the industry standard MetaTrader4 platform, but as it is provided by a third party company- Beta Management Holding Services Ltd., about which we are not given any corporate background as well.
Deposit & Withdrawal
In terms of payment methods available, Apco FX seems to prefer bitcoin payments, which can be considered as a dangerous payment options. However, they also accept credit cards like VISA and MasterCadr. Popular e-wallets like Skrill are not accepted.
