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POOPAC-Overview of Minimum Deposit, Spreads & Leverage

WikiFX | 2024-11-14 13:55

Abstract:poopac, a part of poopac WEALTH LTD, operates as an unregulated UK-based broker. It claims to provide more than 200 financial instruments such as currencies, commodities, indices, metals, shares, and cryptocurrencies via the leading MT4 platform.

Note:poopac's official website: https://www.poopac.com is currently inaccessible normally.

poopac Review Summary
Founded2021
Registered Country/RegionUnited Kingdom
RegulationNo Regulation
Market InstrumentsCurrencies, commodities, indices, metals, shares, cryptocurrencies
Demo Account❌
LeverageUp to 1:500
EUR/USD SpreadFrom 1.3 pips (Standard account)
Trading PlatformMT4
Min Deposit/
Customer SupportEmail: support@poopac.com, services@poopac.com
Address: UNIT G1, CAPITAL HOUSE 61 AMHURST ROAD,LONDON,UNITED KINGDOM E8 1LL
Region RestrictionUS clients are not accepted

poopac, a part of poopac WEALTH LTD, operates as an unregulated UK-based broker. It claims to provide more than 200 financial instruments such as currencies, commodities, indices, metals, shares, and cryptocurrencies via the leading MT4 platform.

Pros and Cons

Pros Cons
Various trading instrumentsNon-functional website
MT4 supportedNo regulation
Commission-free on the Standard accountLack of transparency
No demo accounts
US clients are not accepted

Is poopac Legit?

Is poopac Legit?

At present, poopac lacks valid regulation. Its domain was registered on June 24, 2023, and the current status is “client Delete Prohibited, client Renew Prohibited, client Transfer Prohibited, client Update Prohibited”. Please pay high attention to the safety of your funds if you choose this broker.

Is poopac Legit?

What Can I Trade on poopac?

poopac claims to offer currencies, commodities, indices, metals, shares, and cryptocurrencies. However, they may not be tradable due to its inaccessible website.

Tradable Instruments Supported
Forex✔
Commodities✔
Indices✔
Stocks✔
Cryptocurrencies✔
Bonds❌
Options❌
ETFs❌

Account Type

poopac provides traders with two real trading account options: Standard and Prime. However, the account features are not disclosed.

Leverage

For forex pairs, gold, and silver, traders can access leverage of up to 1:500, while commodities and indices trading allow leverage of up to 1:200. Shares trading offers lower leverage of 1:20, and for cryptocurrencies, the maximum leverage is 1:2, quite low.

Note that high leverage can not only amplify profits, but also increases the risk of losses.

Spread and Commission

The Standard account offers wider spreads but does not require additional fees. The EUR/USD pair have spreads starting from 1.3 pips in the Standard account. In contrast, the Prime account offers spreads starting from 0 pips, but its commission is not disclosed.

Account TypeStandardPrime
EUR/USD SpreadFrom 1.3 pipsFrom 0 pips
Commission❌✔

Trading Platform

Trading PlatformSupported Available Devices Suitable for
MT4✔/Beginners
MT5❌/Experienced traders

LeverageBrokerDealerCurrency PairForex tradingForex Broker

Related broker

Not Regulated
poopac
Company name:POOPAC WEALTH LTD
Score
1.50
5-10 years | Questionable Regulatory License | Suspicious Operational Region | High Potential Risk
Score
1.50

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