Welcome to the Copy Trade Income review. The company claims to operate out of London, providing Forex trading signals and account management.
Copy Trade Income maintains the following domain names:
Copytradeincome.co.uk (now defunct)
Marketing material on the Copy Trade Income website claims that this company and website has existed for over 13 years, helping people make daily profits by copy-pasting their investment recommendations.
Additionally, they claim that Copy Trade Income is the number 1 Forex signal provider with over 28,000 active members.
According to who.is, Copy Trade Income was created in October 2018. This discrepancy exists because the signal vendor is possibly lying to create the impression that they have a substantial trading experience.
On the other hand, website’s Alexa ranking shows that Copy Trading Income does not attract any significant traffic.
Currently, they have less that 100 visitors per day, which means that this signal service is not popular. There’s no way they can have 28,000 active members yet the popularity of their website does not reflect the same.
The more we dig into their website, the more we end up with questions that go unanswered.
We’ll find out in this analysis.
Copy Trade Income review
First of all, this company has been caught under the radar of the FCA. The FCA’s website has listed them as illegal and suspicious because they provide investment recommendations in the UK without a license.
You can read their FCA warning here.
Copy Trade Income is also providing managed accounts services where they demand a minimum deposit of £1,000.
They refer to this service as CTI Capital and promise monthly returns of between 25% to 40%. They deduct 50% of profits every month before the rest of the income can be released to their customers.
The company does not talk about high water mark principle in their fee model.
That means they are deducting 50% as long as there’s a profit and regardless of whether your account is growing or not.
It is possible to make 40% profit now, then suffer a huge draw down that wipes out the 40% plus a portion of the initial capital before the account can recover.
If fees are not based on high water mark principle, then investors will find out that their equity balance is going down despite making returns that appear to be consistent.
Copy Trade Income claims that the worst draw down they’ve suffered is 10%. We will be seeking later on in this review to find out the truth.
As for their signal service, they claim that success rate is between 94% to 97%, figures that are completely ridiculous.
They provide two signal packages to clients who are not interested in their fund management business model (there’s a funny story behind Copy Trade Income’s fund management service).
Packages are as follows:
1 month basic package
Up to 6 signal alerts daily
97.1% success rate
Real time signals through whatsapp
Take profit and stop loss in every signal
1 month premium package
up to 8 signal alerts daily
In-depth market analysis
3 TP levels and clear stop loss
Real time signals on whatsapp
Copy Trade Income fund management service
They claim that this was an in-house service for 3.5 years. During this time, the company was employing professional traders who traded with the company’s money and yielded profits of their own.
Later, they decided to open it to the public where investors could come and participate by letting the company trade their money.
Of course this story is a lie. It does not sound legitimate at all. A private fund does not operate like this.
In fact, why was this website and company blacklisted by the FCA if they are who they claim to be?
We see no reason why a private and profitable fund can refuse to take a license from the FCA.
We see no reason why a profitable company can decide to lie about their experience and way of operation.
We feel that this is a scam at its basic level.
Trading strategy review
Copy Trade Income discloses their trading strategy but it’s not convincing at all. They say that company traders are scalping the Forex market to yield maximum profit with low draw down.
They say that scalping is a very low-risk trading strategy because trades are never held overnight. We feel that this statement is quite misleading because scalping in itself is not a strategy.
A strategy entails how market is studied, how entry and exit is planned and how money management is done.
None of this information was ever disclosed on the CopyTradeIncome.com website.
Lack of transparency is the biggest setback with this service.
Does CopyTradeIncome have any trading results?
They’re posting Instagram screenshots of supposed past performance and customer reviews on their website.
This is a very silly old trick that does not work in 2020. Vendors who claim to offer abnormal success rate in their signal alerts must prove that results are authentic. They do it using myfxbook.com platform.
Copy Trade Income does not have a myfxbook.com, only fabricated reviews on TrustPilot and fake numbers on their Instagram screenshots.
We do not see anything authentic about this signal service. In fact, we believe the more people avoid Copy Trade Income, the more they’ll save their money and time and a possible heartache associated with following a money loser’s trades. Thanks for reading the Copy Trade Income review. We look forward to your reviews and opinions regarding this service.