Topmax Global Forex Broker provides real users with 1 positive reviews, * neutral reviews and * exposure review!
Risk Control
License
ASIC Revoked 
I would like to share with you some of my views on Topmax Global here. It is regulated by ASIC, one of the best regulators in the world, so my money is very safe here. Also, they offer the MT5 platform, which is also one of the best trading platforms in the world. I have used the MT5 platform before, so my trading experience here is very smooth. Lovin' it!
Summary: Overall, Topmax Global appears to be a highly questionable forex broker, with numerous reports indicating it operates as an unregulated entity. Key findings reveal a lack of transparency, false claims of regulatory compliance, and numerous user complaints about withdrawal difficulties and aggressive sales tactics.
Note: The information presented reflects various user experiences and expert analyses, highlighting the importance of conducting thorough research before engaging with any online trading platform.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 2 |
| Tools and Resources | 1 |
| Customer Service and Support | 1 |
| Trading Setup (Experience) | 1 |
| Trustworthiness | 1 |
| User Experience | 2 |
We evaluate brokers based on user feedback, expert analysis, and factual data from multiple sources.
Founded in 2022, Topmax Global is an online trading broker operating under the names Topmax Global Limited and Topmax Global Pty Ltd. The broker claims to provide access to various financial markets, including cryptocurrencies, commodities, and CFDs, using the widely recognized MetaTrader 5 (MT5) trading platform. However, it has been flagged for operating without proper regulation, raising significant concerns about the safety of client funds.
Regulatory Status:
Topmax Global claims to be regulated by several authorities, including the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) and the Australian Securities and Investments Commission (ASIC). However, investigations reveal that these claims are false, as Topmax Global is not listed in any of the official registries of these regulatory bodies (Planet of Reviews, Capital Forex Markets). This lack of regulation is a significant red flag, as it means the broker operates outside the law, offering no protection for client funds.
Deposit/Withdrawal Options:
Users have reported various issues with withdrawals, including high fees and outright refusals to process withdrawal requests. Many users have expressed frustration, stating that once they attempted to withdraw their funds, they encountered aggressive tactics urging them to continue trading instead (ScamWatcher). The minimum deposit required to open an account is reported to be $100, which is relatively low compared to other brokers, but given the lack of trustworthiness, investing even this amount is highly discouraged.
Trading Conditions:
Topmax Global does not provide clear information about its trading conditions, including spreads, commissions, or leverage. The absence of such critical details makes it difficult for potential traders to evaluate the cost of trading effectively. Additionally, the platform claims to support a proprietary trading platform called TidalX, but users have reported being unable to access any trading platforms at all (WikiFX).
Available Assets:
The broker claims to offer trading in cryptocurrencies and commodities. However, the lack of transparency surrounding the exact assets available for trading and the absence of a demo account for practice raises further concerns about the legitimacy of these offerings (Bittribute).
Customer Support:
Customer support appears to be another weak point for Topmax Global. Users have reported difficulties in reaching support and receiving timely responses. The lack of a physical office location and vague contact information adds to the skepticism surrounding the broker (Forex-Fun).
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 2 |
| Tools and Resources | 1 |
| Customer Service and Support | 1 |
| Trading Setup (Experience) | 1 |
| Trustworthiness | 1 |
| User Experience | 2 |
Account Conditions:
The broker has a minimum deposit requirement of $100, but the lack of regulatory oversight and transparency makes this an unwise investment. Users have reported that once they deposit funds, they face numerous obstacles when trying to withdraw.
Tools and Resources:
Topmax Global claims to offer advanced trading tools through MT5, but users have been unable to access any functional trading platform. The promised features remain unverified and untested (Topmax Global Review).
Customer Service and Support:
Reports indicate that customer service is lacking, with many users experiencing long wait times and unresponsive support. This can be particularly concerning when users encounter issues with their accounts or withdrawals.
Trading Setup (Experience):
The overall trading experience is marred by the inability to access a functional platform and a lack of transparency regarding trading conditions. Users have reported feeling misled and frustrated (WikiFX).
Trustworthiness:
Given the broker's unregulated status and false claims regarding licenses, trustworthiness is rated extremely low. Users are advised to exercise extreme caution when considering investing with Topmax Global.
User Experience:
Overall user experiences have been overwhelmingly negative, with many reporting significant losses and difficulties in withdrawing funds. The lack of transparency and aggressive sales tactics further diminish the user experience (Scam Recovery).
In conclusion, Topmax Global is a broker fraught with issues that potential traders should be wary of. The lack of regulation, transparency, and poor user experiences suggest that this broker may not be a trustworthy option for trading. Investors are strongly advised to seek out regulated and reputable brokers to ensure the safety of their funds and a more reliable trading experience.
