Toptrader Forex Broker

Toptrader Information TopTrade's appeal to traders may lie in the low spreads. However, as an unregulated broker, its credibility is very limited.Pros and ConsPros Cons Low spreadUnavailable websiteEasy to use trading platformLack of transparency5 types of deposit and withdrawal methodsRegulatory concernsLess trading instrumentsIs Toptrader Legit？ Toptrader currently has no effective regulation and its claim to Cyprus CYSEC(Regulation No. 242/14) is suspected of being a clone. We can clearly see that the regulated entity on the regulatory licence provided by Toptrader is Goldenburg Group Ltd, but the entity name of Toptrader is TOPTRADE TRADING, which is clearly inconsistent. It offered fake license plates to deceive traders. Please choose carefully and pay attention to safety.Current StatusSuspicious CloneRegulated by CyprusLicense TypeStraight Through Processing (STP)License No.242/14Licensed InstitutionGoldenburg Group LtdWhat Can I Trade on Toptrader Toptrader said it offers trading of forex currency pairs, as well as CFD trading on commodities, precious metals and indices.Tradable Instruments Supported Forex Currency Pairs✔CFDs✔Stock❌Product❌Bond❌Cryptocurrency❌Option❌Futures❌ETFs❌Toptrader Fees Toptrader Spreads Toptrader advertises that it can offer ultra-low spreads starting at 0.0 points. However, the broker did not specify its detailed spreads on specific instruments. Non-Trading Fees Inquiries show that the minimum deposit required to open an account with the broker is $250, which is not much, but many Cypriot companies require even less.Trading Platform Toptrader offers its customers the industry-standard metatrader 4 (mt4), available as downloadable desktop, web and mobile versions, mt4 is the first choice of most traders, equipped with professional trading tools.Trading PlatformSupported Available Devices Suitable for MT5✔desktop, web and mobile versionsNovice traderDeposit and Withdrawal Toptrader offers its investors bank wire transfers, credit/debit cards and popular e-wallets such as skrill, neteller and dotpay as payment methods.Customer Service The broker provided traders with a telephone number +357 25 030576 and email address info@toptrader.eu, registration@toptrader.eu.Contact Options DetailsPhone+357 25 030576Emailinfo@toptrader.euregistration@toptrader.euThe Bottom Line Although the low price differential is the broker's strength, it looks very attractive. But the biggest problem exposed by Toptrade is a lack of regulation, which makes it unsafe for investors to trade.FAQs Is Toptrade safe？ It's not safe. Unregulated is its biggest problem, and its credibility and safety are very limited. Is Toptrade good for beginners？ It's not suitable. For beginners, the trader is very risky and may affect the safety of personal property. Is Toptrade good for day trading？ The information currently provided by the trader does not conclude that it is suitable for day trading, which requires fast trade execution, low latency quotes, and low transaction costs. Please choose another suitable broker.