Beware! Concepty is an offshore broker! Your investment may be at risk.
RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
Concepty is in no way a legitimate broker – that much we are sure of. This broker is not regulated and provides little information about itself or its trading conditions. In other words, this is the last broker you should be considering investing with. Read the review to learn more.
Concepty Regulation and Safety of Funds
|Guaranteed Funds||Segregated Accounts||Negative balance protection|
|UK regulated brokers||£85 000||Yes||Yes|
|EU regulated brokers||€20 000||Yes||Yes|
|AU regulated brokers||No||Yes||Yes|
|US regulted brokers||Yes||Yes||No|
Concepty did not provide any license information on its website – which probably goes to show that this is an unregulated company. Each and every regulated broker will make sure to provide you with a ton of license information to prove its legitimacy – you would not be doing any second-guessing with licensed companies.
Concepty, on the other hand, seems to be everything but reliable. The broker did not provide any information about the company behind it and did not offer any sort of address. Even after thorough research, we still have no idea where this broker is based.
Instead of wasting time on questionable enterprises, invest with brokers licensed in strict jurisdictions such as the UK, the EU, or Australia. Brokers based in these countries are asked to meet a ton of requirements in order to prove their legitimacy, good financial standing, and long-term approach. They are a much safer choice and try to maintain a high standard of service. There is no doubt about the fact that they are a much better choice than unregulated scam enterprises like Concepty.
Concepty Trading Software
|Analytical tools||Auto trading||Custom indicators||Mobile apps|
|MT4||30+ indicators||✅||✅||Android and iOS|
|MT5||50+ indicators||✅||✅||Android and iOS|
|cTrader||40+ indicators||✅||✅||Android and iOS|
Concepty offered access to a web-based trading platform that failed to impress us:
This is not the worst platform we have ever seen but it is hardly the best either. Such simple software offers quite limited possibilities and would definitely not result in a satisfying trading experience.
What we would recommend you do instead is open an account with a broker that offers advanced trading platforms such as MetaTrader 4, MetaTrader 5, and cTrader. All of these platforms are a great, efficient solution and would without a doubt provide for an amazing trading experience.
Concepty Trading instruments
Concepty offered a wide variety of trading instruments – forex, commodities, stocks, indices, ETFs, cryptocurrencies, and even cannabis. Although this is a fairly decent range of markets, we would still recommend trading with a legitimate broker instead.
Concepty Spreads and cost of trading
Concepty seemed to offer great spreads – 1.1 pips on EURUSD. 1.4 pips on GBPUSD, and 1.7 on USDJPY. Do not, however, open an account with an obvious scam broker just on account of great spreads – there are plenty of legitimate brokerages that can offer similarly great results.
Concepty Maximum leverage
|UK regulated brokers||30:1||5:1||❌||10:1||10:1|
|EU regulated brokers||30:1||5:1||2:1||10:1||10:1|
|AU regulated brokers||30:1||5:1||2:1||10:1||10:1|
|US regulated brokers||50:1||❌||❌||❌||❌|
Concepty promised leverage as high as 1:500 but the exact number depended on the account type. We were only allowed to trade with up to 1:100 which is still quite a lot. Trading with such high rates might seem tempting because it might result in bigger profits. It could, however, also lead to much bigger losses. That is why we always advise caution – do not trade with leverage higher than what you are absolutely sure you can handle.
Concepty Deposit and withdrawal methods
|Deposit time||Withdrawal time||Fee|
|Bank wire||2-5 business days||2-5 business days||$25+|
|Credit card||Instant||24 hours||Free|
|PayPal||1 hour||24 hours||2%|
|Skrill||1 hour||24 hours||2%|
|Neteller||1 hour||24 hours||2%|
|Crypto||24 hours||24 hours||Fee depends on crypto|
On its website, Concepty mentioned that it accepts deposits made via wire transfer or with a credit/debit card. However, he broker would not allow us to make a deposit – when we tried to do so, we were informed that no payment systems were available at the moment.
We strongly advise you against depositing with scam brokers – you would only be left wondering how to retrieve your money. Legitimate brokers usually accept a wide variety of payment solutions such as credit debit card, wire transfer, crypto, and e-wallets like Skrill and Neteller.
Concepty Minimum deposit
Opening Concepty’s cheapest account costs $250. This might not sound like a lot of money but you should consider that some of the best brokers in the industry offer much more affordable trading accounts – for as little as $5 and sometimes even for less.
Concepty Withdrawal requirements
Concepty did not provide any information about withdrawal requirements – but since this is a shady scam broker, we are sure they have such. Many scammers charge outrageous withdrawal fees, for example – as much as 20%. Others ask clients to reach impossibly high trading volume requirements before allowing withdrawals. Legitimate brokers never have such conditions. Stay vigilant – if you encounter such requirements that sound weird and outrageous, you are probably dealing with a scam broker.
|Trading volume||Fee/Tax on withdrawal||Minimum withdrawal|
|Concepty / offshore brokers||No information||No information||No information|
|UK regulated brokers||No||No||No|
|EU regulated brokers||No||No||No|
|AU regulated brokers||No||No||No|
|US regulated brokers||No||No||No|