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Global Broker Regulation & Inquiry App

Score

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Toptrader

Cyprus|2-5 years| Benchmark A|
High potential risk|

https://toptrader.eu/

Website

Rating Index

Benchmark

Speed:AAA

Slippage:C

Cost:AAA

Disconnected:D

Rollover:A

Contact

+357 25 030576
info@toptrader.eu
https://toptrader.eu/
46 Ayiou Athanasiou Avenue, 4102 Limassol, Cyprus

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Contact number

English

+357 25 030576

Other ways of contact

Broker Information

More

Company Name

TOPTRADER TRADING

Abbreviation

Toptrader

Platform registered country and region

Cyprus

Company website

Pyramid scheme complaint

Expose

Check whenever you want

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Warning: Low score, please stay away! 4
Previous Detection : 2024-11-03
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of this brokers's negative field survey reviews has reached 1. Please be aware of the risk and the potential scam!
  • The CyprusCYSEC regulation (license number: 242/14) claimed by this broker is suspected to be clone. Please be aware of the risk!
  • The current information shows that this broker does not have a trading software. Please be aware!

WikiFX Verification

Toptrader · WikiFX Survey
Danger A Visit to Toptrader in Cyprus - No Office Found
Cyprus
Toptrader · Benchmark
Average transaction speed(ms)
185 Perfect
The highest transaction speed(ms)
125 Good
The highest speed of opening positions(ms)
141 Good
The highest speed of closing position(ms)
125 Great
The lowest speed of opening positions(ms)
594 Perfect
The lowest speed of closing position(ms)
281 Perfect
7.4USD/Lot Perfect
0USD/Lot
Long: -8.32USD/Lot    Short: 3.18USD/Lot
Long: -26.57USD/Lot    Short: 11.95USD/Lot
Average slippage
1.2 Poor
Maximum transaction slippage
10 Good
Maximum positive slippage
-2 Great
Maximum negative slippage
10 Good
Average disconnection frequency (times/day)
1.9
Average reconnection time (millisecond/per request)
83.5
Ranking: 58 / 134
Test user 216
Orders 1,718
Ocuppied margin $1,853,285 USD
Data Source WikiFX Data provide
Updated: 2024-11-01 01:00:00

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Toptrader · Company Summary

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 Cons

Pros Cons
Low spreadUnavailable website
Easy to use trading platformLack of transparency
5 types of deposit and withdrawal methodsRegulatory concerns
Less trading instruments

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 StatusSuspicious Clone
Regulated by Cyprus
License TypeStraight Through Processing (STP)
License No.242/14
Licensed InstitutionGoldenburg Group Ltd
Is Toptrader Legit?

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 PlatformSupported Available Devices Suitable for
MT5desktop, web and mobile versionsNovice 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
Emailinfo@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.

Review 1

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