Cupiro review – Everything you need to know concerning the cupiro.io scam

As of May 2023, the broker (cupiro.io) has ceased operations. But you can read the article to avoid falling for similar scammers.

Information about Cupiro regulation

Cupiro claims it will “empower” you to become the best trader that you can be. However, the firm is still not licensed because it is new and established nowadays.

Cupiro is a Rebelism Limited brand, located in the British Virgin Islands. We are grateful for the details. But, the presence of an offshore headquarters raises questions. Is it possible that the company was established offshore to reduce taxes, or is there a more sinister goal? This is a question that only regulation can answer.

Why is a broker required to have a license?

To meet certain regulatory requirements and provide a safe trading environment, a broker must hold a license. Tier1 regulators require Forex firms to create huge compensation funds and reimburse clients if there is an issue.

Cupiro has not yet been granted a license and it isn’t clear if it will. We believe your funds may be at risk due to this and the fact that Cupiro is located offshore.

Financial regulators issue Cupiro warnings

Cupiro, despite being a young broker has already been placed on the regulatory warnings list. Cupiro.io was placed on the Canadian AMF list of domains that are operating illegally without a license.

Traders reviews about Cupiro scam

Trustpilot reviews of Cupiro may surprise you. The reviews were posted within the last 7 days. Even though Cupiro claims it does not accept US clients you will still see reviews from this country.

Here’s a Canadian example to prove the regulatory warning.

Cupiro charges unusually high fees

We were prompted to review the terms and conditions of Cupiro after we received complaints. We found out that the firm charges $85 per month for inactivity if your account isn’t used for three consecutive months. They can also close your account and retain your funds after six months.

It states that “if you don’t have enough funds available to pay the purchase price for an Order, together with the respective fees, and commissions, the Company may refuse to execute it.” This clause is not a bad thing, but it means that the broker will attempt to charge your bank account rather than explaining to you and advising you that more funds are needed.

Although the Terms and Conditions state that there are no withdrawal or deposit fees, it is only applicable if you withdraw with a credit card. There is a $30 withdrawal fee for wire transfer withdrawals.

You will be charged $30 if you fail to verify your account within 15 calendar days after opening it.

Trading software available in supported trading platforms

Cupiro also offers WebTrader for desktop and mobile. However, it will warn you that it comes from an unknown source and could cause damage to your device if you attempt to download it.

Although the web version is functional, it is limited in functionality. It supports social trading but has fewer charts and indicators than MT4 and MT5.

Overall, the platform is good, but it would be better to have a licensed broker that offers MetaTrader.

Everything you need to know about the Cupiro trading account

Cupiro offers 3 different account types.

1. Micro – $250
2. Standard – $2,500
3. Pro – $25,000

Micro is the name used by regulated firms to describe accounts that require as little as $10. Cupiro however considers the minimum deposit of $250 micro. Spread and leverage are two different things about accounts.

Cupiro range trading instruments & markets

There are a few trading instruments available, but they are not as common as:

• Currency pairs
• Commodities
• Indices
• Shares
• Cryptocurrencies

Leverage is not regulated and can range from 1:100 to 1:300.

Cupiro withdrawal and deposit methods

Cupiro will accept these payment methods:

• Credit/debit card
• Wire transfer
• eWallets
• Bitcoin

The only problem with using your card is that there’s no button to make the transaction. eWallets, on the other hand, aren’t specified and can’t be selected.

We are left with wire transfers and Bitcoin. While wire transfers can take up to seven business days, Bitcoin transactions can be tracked easily. The broker clearly thought through which option should be enabled and which should remain a paper option.

Cupiro broker scammed you? Tell us about your experience with the Cupiro broker

Let us know if you believe that a Cupiro broker has scammed you. You may be eligible for a refund if our chargeback specialists can help you. Contact us immediately as time is crucial for your finances.

What is a chargeback, you ask?

This allows your bank to reverse fraudulent online transactions. Contact us to book a complimentary consultation and let’s get our money back!

Cupiro: Video

Below you will find a short video about Cupiro. Watch it so you don’t miss anything important. In a few minutes you’ll learn the whole truth about Cupiro!