Toptrader Forex broker specializes in providing foreign exchange trading services, the company's official website https://topforex.com/registration/live-registration-normal/, the company's legitimate regulatory information CyprusCYSECStraight Through Processing (STP), to enhance the security of the company's address 46 Ayiou Athanasiou Avenue, 4102 Limassol, Cyprus.
Toptrader Forex Broker
Basic information
Cyprus
5-10 years Suspicious Regulatory License Suspicious Scope of Business High potential riskCompany profile
Topspanader Information
TopTrade's appeal to traders may lie in the low spreads. However, as an unregulated broker, its credibility is very limited.
Pros and Cons
Is 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 Status | Suspicious Clone |
| Regulated by | Cyprus |
| License Type | Straight Through Processing (STP) |
| License No. | 242/14 |
| Licensed Institution | Goldenburg Group Ltd |
What 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 Platform | Supported | Available Devices | Suitable for |
| MT5 | ✔ | desktop, web and mobile versions | Novice trader |
Deposit 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 | Details |
| Phone | +357 25 030576 |
| info@toptrader.euregistration@toptrader.eu |
The 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.
smooth
Malaysia
Dude, Toptrader is legit! It's hands down the easiest platform I've used lately. I signed up with them and was blown away by how transparent the trading environment is. Orders execute super-fast, and I haven't experienced any sketchy stuff like slippage or disconnects. Overall, I'm stoked with the platform and would definitely recommend it to anyone looking for a solid trading experience.
Neutral
2023-03-27