TopForex Guide – Read our In-Depth TopForex Review
This TopForex review has been updated for 2021 by industry experts with years of financial experience in Forex, CFDs, & Social Trading.
Please note that due to regulations, the content in this TopForex review does not apply to US users.
If you are a new entrant in the world of trading and brokerage, so many details will be confusing for you. Getting into the world of trading requires expert analyzing skills and thorough understanding. You will acquire proficient at all the concepts of broker since you keep trading. For starters, you need to choose the right agent who'll be transparent with you constantly.
Within this fast-paced world of stock markets and trading, you will need guidance to make proper decisions. A professionally lead investment program will create hefty returns. TopForex is just one such stage which will take you and your investment to great heights. It's crucial that you understand all about TopForex before you trust them with your money.
Our full TopForex Review covers everything you will need to know about trading using TopForex. A good agent can multiply your first investments and provide you positive profits. If you want to earn profits, you should trade with a brokerage service that aligns with your investing goals.
There's absolutely no sure-fire method to ensure profits; thus, you must carefully assess your agent before you choose them. It's a common misconception that all brokers are exactly the same, but that is not true. Wrong judgment, in the beginning, can put your investments in danger.
TopForex is a broker that has found its way successfully into the broker world. In this review, we have tried to collate some of the important aspects of TopForex. This review can allow you to understand whether TopForex is a fantastic fit for your investments or not. We've tried to breakdown all of the qualities and fees for your advantage.
TopForex Review, Table Of Contents
- Who are TopForex?
- Benefits Of Trading With TopForex
- Everything you should know about trading with TopForex
- Is TopForex Safe To Trade With?
- Pro's & Con's Of Trading With TopForex?
- Compare Brokers Similar To TopForex
- Regulation And Licencing In More Detail
- TopForex Awards
- Minimum Deposit Required For A Live Account With TopForex
- TopForex Commission And Fees Explained
- Compare broker fees against TopForex
- TopForex Withdrawal Fees Explained
- TopForex Deposit Fees Explained
- Compare Broker Deposit Methods
- What Can You Trade With TopForex?
- Alternatives To TopForex
- Frequently Asked Questions About TopForex
Who are TopForex?
TopForex is a foreign exchange broker headquartered in Cyprus and provides a range of instruments for trading. Since its inception in 2009, TopForex has emerged as a leading player in the field of online brokerage. TopForex includes an extremely competitive and full-featured trading website that's focused on forex, indices, metals, shares, commodities.
Over the past 12 years, TopForex has grown into one of the leading online brokers.
After establishing in 2009, their customer base is becoming as large as 10,000+ clients.
TopForex is the favorite of many dealers.. Our TopForex review found that they are an excellent alternative for automated trading options. It's best suited for investors that are looking for a variety of assets. Social and automated trading solutions are the heart at TopForex.
Technology plays a significant role in TopForex. TopForex features trading on MT4, Web Trader, Tablet & Mobile apps. TopForex is honest, transparent, and also a well-regulated broker by the Cyprus Securities and Exchange Commission (CySEC). Their outstanding variety of tools will be beneficial for the majority of traders. Third-party partnerships also supply in-house analysis.
The trader resource section at TopForex is quite enlightening for new dealers as it allows them to get a closer look in the financial markets. TopForex caters to all sorts of traders and are a must-have broker for any well-diversified approach to online trading.
If you feel that TopForex is not right for you then at the bottom of this TopForex review you wil find a lot of alternatives to TopForex.
What you should know about trading using TopForex
TopForex is a dynamic platform that offers various techniques of trading. These instruments cover the financial markets substantially. Most of the brokerage platforms offer fewer procedures than TopForex
If you want to trade with TopForex, you will require a minimum deposit of $100. This deposit is mandatory if you wish to start trading using TopForex. This 2021 TopForex review will direct you safely about trading with them.
TopForex is as versatile as another broker platform. TopForex is excellent for traders who want a manageable assortment of cheap services. The platforms supplied by TopForex are third-party, white-label offerings. All traders may choose from MT4, Web Trader, Tablet & Mobile apps.
Together with everything, TopForex has multiple benefits to new and verteran traders and should be investigated. There is no minimum time over which a trade must be kept available. The brokers provide premium client service that rewards clients with advantages.
Many less reputable brokers attempt to pressurise customers into larger financing for superior services. TopForex, on the other hand, is more focused on trading volume. Dealers can expect trading conditions to be fair, honest and transparent. The more lots traded by the user, the greater advantages will come along.
TopForex accounts are available all over the world and provides outstanding service everywhere they have customers. There are some select few countries where TopForex accounts are not available. Traders in the following countries cannot open or use a TopForex account:
Is TopForex Safe To Trade With?
Launched in 2009, TopForex has been operating for 12 years, they are headquarted in Cyprus.
TopForex is regulated by Cyprus Securities and Exchange Commission (CySEC). These bodies have rules that ensure that trading platforms have ploicies in place to keep investor's assets secured. This means that TopForex users don't need to worry about their money as it is segregated and safely kept in established banks. SSL encryption simplifies each user's personal information as well.
You can make use of an option for 2 Factor Authentications (2FA) with TopForex for heightened safety. An SMS for the verification code will be sent to a phone. You will be required to input this code to log into your account.
Another concern with fiscal brokers is in regards to security may be manipulation of trading. This is highly disadvantageous to consumers on these platforms. However, this is more prevalent in the case of Market Maker brokers who compete with customers on the stage.
Pro's & Con's Of Trading With TopForex
Every online trading platform will have a few ups and downs, and no TopForex review would be complete without having a balanced approach. This TopForex review covers both the pros and cons you need to know before you make an account. A comparative analysis can put things into perspective so that you are aware of what to expect.
- TopForex is trusted by 10,000+ clients
- TopForex doesn't charge CFD fees
- TopForex offer trading on MT4, Web Trader, Tablet & Mobile apps
- TopForex offer 100 trading instruments
- TopForex trades major forex pairs
- TopForex can communicate in
- TopForex does not offer Negative Balance Protection
- TopForex does not offer Guaranteed Stop Loss
- TopForex charge withdrawal fees
- TopForex charge inactivity fees
- TopForex charge deposit fees
- TopForex doesn't trade minor forex pairs
- TopForex doesn't trade exotic forex pairs
- TopForex doesn't offer trading on cryptocurrencies
TopForex Review - Compare Brokers Similar To TopForex
|TopForex||Wilsons Advisory And Stockbroking||Baker Young Stockbrokers||Charter Prime|
|Regulated By||Cyprus Securities and Exchange Commission (CySEC)||Unregulated||Unregulated||Financial Conduct Authority (FCA)|
|Find Out More|
|Risk Warning||Losses can exceed deposits||Your capital is at risk||Your capital is at risk||Your capital is at risk|
TopForex Review - Regulation And Licencing In More Detail
TopForex is regulated by Cyprus Securities and Exchange Commission (CySEC).
TopForex, as a business, has a powerful set of rules for ensuring honest trading onto its platform. For information encryption purposes, it provides an industry-standard secure socket layer (SSL).
In accordance with the organization's privacy regulations, client information is never to be shared with any other institutions or individuals. Including credit history and other financial details.
TopForex Review - Awards
- At the time of writing this TopForex review, they had not received any awards.
TopForex Review - Minimum Deposit Required
The minimum deposit you need to begin on TopForex is $100. This is an adequate amount for those just starting out. It's possible to make more complex residue as you cooperate. However, ensure you know how to make the most of your money before investing larger amounts.
TopForex Review - Commission And Fees Explained
TopForex is an online brokerage platform, and many online brokerages charge lower fees than traditional brokerages tend to bill. The reason for this is that the companies of online brokerages are scaled better. That is, an online broker is not necessarily affected by the amount of customers they have.
But this doesn't necessarily mean that online brokers don't charge any fees. They charge fees of varying rates for various services to earn money. There are mainly 3 different types of fees for this objective.
The first sort of fees to keep an eye out for are trading charges. When you make an actual trade, like buying a stock or an ETF, you are charged trading fees. In such cases, you're paying a spread, financing speed, or a commission. The sorts of trading charges and the rates vary from broker to broker.
Commissions can be fixed or determined by the traded quantity. On the flip side, a spread denotes the gap between the buying and selling cost. Funding or overnight prices are those who are charged when you hold a leveraged position for more than daily.
Apart from trading charges, online agents also bill non-trading fees. These are determined by the actions you undertake in your account. They are charged for operations like depositing cash, not investing for long periods, or withdrawals.
Generally, TopForex does not charge high fees compared to other online brokers. For operations other brokers charge for, they do not charge a brokerage fee, or they charge a lesser sum. This is beneficial for people who often trade, such as daily or weekly trading.
But, non-trading fees charged by TopForex are comparatively lower. As a result, you're billed more for non-trading activities in your trading accounts, such as deposits and withdrawal. These are not related to the sale and purchase of resources.
This TopForex review breaks down every one of the relevant non-trading fees for you in detail.
Compare broker fees against TopForex
|TopForex||Wilsons Advisory And Stockbroking||Baker Young Stockbrokers||Charter Prime|
TopForex Review - Withdrawal Fees Explained
TopForex charges a withdrawal fee when you create a bank transfer. Every time you move money into your bank account, these withdrawal charges become applicable.
Withdrawal of money is possible at any time from the TopForex account. It's possible to withdraw up sums to the amount of your account balance, keeping aside the perimeter used. 1 thing to remember is that you don't always need to have any cash on your account.
Moreover, the withdrawn money will be transferred directly to the account you use to create deposits. Therefore, in the event that you used a credit card for deposits, then the withdrawn money will be sent to the card. TopForex will ask you to provide other withdrawal methods in case your details have changed since your deposit.
There is a minimum withdrawal amount. In the event you are withdrawing money in different currencies from USD, a conversion fee is also applicable. The conversion fee will depend on the currency you are choosing to draw in.
TopForex Review - Inactivity Fees Explained
Understanding whether you will be charged inactivity fees is only one of those buzzing questions which run through your mind while open an account with TopForex. An inactivity fee is an amount charged to registered traders who have not participated in purchasing or selling for a while. The period regarded as inactive is decided by the broker.
The inactivity fee differs from 1 agent to another and isn't standardized. If a dealers account doesn't have a buying or selling trade, it is maintained by the agent as an inactivity fee. The traders have to pay this fee under terms and conditions that they had consented while enrolling.
TopForex charges an inactivity fee when you don't make any trades for a while.
Even if no fees have been indicated by TopForex, it's best that you close the account if you are inactive. Inactivity fees are not just charged by broker companies but also many financial services.
For additional trading platforms, the inactivity fee is contingent upon the type of account you've selected. The inactivity fee is exposed to many conditions and needs to be revealed clearly by the agent beforehand.
TopForex Review - Deposit Fees Explained
When you move money in your trading account by the bank account, a deposit fee can be billed by the broker. Most brokers don't charge an excessive amount of money for this operation.
TopForex charges a deposit fee for transferring money into your trading account.
Depositing money on the TopForex trading platform is simple. You just need to complete a single-user profile survey to start depositing money into your trading account. You will have to provide an identity evidence and proof of residency to deposit substantial sums.
TopForex Review - Compare Broker Deposit Methods
|TopForex||Wilsons Advisory And Stockbroking||Baker Young Stockbrokers||Charter Prime|
What Can You trade With TopForex?
Note: TopForex provides a lot of different trading instruments due to regulatory restrictions in many countries. Trading instruments offered may be different based on the country of residence of the client.
TopForex has a wide variety of over 100 instruments available for you to trade with.
If trading currency pairs is of interest to you then TopForex offer over 15 currency pairs.
Compare TopForex, Wilsons Advisory And Stockbroking, Baker Young Stockbrokers & Charter Prime below.
Alternatives To TopForex
If, after reading this TopForex review, TopForex does not quite meet your needs check out these TopForex alternatives.
We have scoured the internet to find the best alternatives to TopForex. Click the hyperlinks below to learn more.
Frequently Asked Questions about TopForex
Can I try TopForex before I buy?
Yes, you can most certainly try TopForex before you buy. TopForex provides demo accounts for the ease of inexperienced traders. You may use this feature to build your faith in the system and yourself and your trading strategies.
If you register to get a demonstration account on TopForex, you will set out with a decent amount of virtual currency. It's to establish a feeling of security and confidence in you until you decide to spend your own money.
With this virtual TopForexdemo account, you can experiment at all, to whatever length you wish. You might even open positions, examine different trading approaches, and more.
TopForex specifies on its official site which you can trade real time stocks in a demo account.
Is TopForex safe?
It is possible to drop all of your worries since we believe that TopForex is perfectly safe to use. It's in compliance with the rules of Cyprus Securities and Exchange Commission (CySEC).
Even so, TopForex does not provide assured stop-loss protection.
Why does TopForex ask for my passport?
The reason that TopForex asks for your passport when you open a live account is to ensure that it remains within the rules of its regulated bodies. Because there is a lot of money moving around the world, TopForex has to be careful that they don't breach any money laundering laws and part of that is know as KYC (Know your customer). This means that at all times, TopForex must know exactly who they are dealing with so that if there is any investigation they are comfortable that they are well within the law.
How can I start trading with TopForex?
The process to start trading withTopForex is perhaps simple enough to be a cakewalk. You need to begin by signing up on the TopForex website. It will require you to fill in details pertaining to the credibility and security of your account.
Once you are done setting up your profile, you must deposit a minimum amount to get started. The minimum deposit for a live acocunt with TopForex is $100. You should have a good hold over the nuances of online trading before you set out and trade with real money.
If you are confident of your knowledge and understanding, you can open an account with TopForex.
The best way to kickstart your trading career with TopForex is to open a demo account facility before risking any real money
What funding methods do TopForex accept?
There are multiple ways to fund your account with TopForex. The process is effortless and quick, with different payment methods at your fingertips.
You can use debit or credit cards ranging from Visa, Diners, and Maestro to MasterCard and Visa Electron. PayPal is also at your disposal for depositing money. You must bear in mind that PayPal is not available in every place. The monies TopForex
Is my money safe with TopForex?
Yes, your cash is safe and protected with TopForex. As you know, TopForex works with proper conformation to. It's established lots of measures to guard all of its own investors.
TopForex protects its clients' personal and sensitive data under SSL encryption. Your capital will be retained highly secure in top-tier banks.
If you wish to further protect your account, you can enable Two-Step Verification also. It takes an SMS confirmation that you access your accounts.
Is TopForex trading good?
Yes, trading through TopForex is a nice and decent experience indeed. It is an excellent and intuitive platform with useful features for your simplicity. Moreover, you can also gain access to a huge collection of educational tools and assistive substance to kickstart your trading experience.
If you are still skeptical, you can open a eToro demo account and evaluate the credibility of the platform on your own.
Which Countries does TopForex support?
TopForex operates around the globe. However, due to regulations there are some countries that TopForex does not accept clients from
Is TopForex legit?
TopForex is a legit company headquarted in Cyprus since 2009. They are regulated by Cyprus Securities and Exchange Commission (CySEC). TopForex is an acclaimed fintech company, which operates with transparency. You will not have to bear any hidden costs or be a victim to any scams.
Is TopForex a good broker?
TopForex is an excellent agent, and its own users may vouch for it. The highlight of this platform is its fast order execution on transactions.
You'll find the clean design of this platform along with the commendable features that a pleasure to work with.
Is TopForex a trustworthy broker?
Yes, TopForex is a trustworthy broker. Top-tier financial authorities regulate all operations. Over 10,000+ users registered with them can reaffirm their trustable nature.
What is the minimum deposit for TopForex?
The minimum deposit to open a live account with TopForex is $100
How long do TopForex withdrawals take?
Normally, withdrawal of money from TopForex is actioned within a couple of working days but depending on the withdrawal method chosen, it could take up to 7 working days for the withdrawal from TopForex to show in your bank account.
Are TopForex regulated?
TopForex are regulated by Cyprus Securities and Exchange Commission (CySEC)
Is TopForex a market leading broker?
TopForex is currently one of the business leaders. It has over 10,000+ registered users and over 12 years of expertise on its own record. They are among the world's leading trading platforms and a dominant figure in the Fintech revolution.
It majorly owes this standing to its unbelievable platform and wide range of resources plus tools so you may put money into capital markets.
Is TopForex a con?
No, TopForex is not a con. They are regulated by Cyprus Securities and Exchange Commission (CySEC) and must adhere to their rules. Thus, it is safe to say that TopForex is not a scam.
Can you make money with TopForex?
Through TopForex, several traders earn a lot of money. However, on average, through continual trading, you also can make between 2% - 10% profit a month.
This may seem to be a small number, but within the year, this adds to a significant amount of gains. Even though TopForex supply you all of the tools to earn money, they cannot guarantee that you will profit.
Does TopForex have fees?
Yes. To start trading using TopForex, you have to deposit $100. Certain commissions while trading also applies. Any processing fees from your bank will have to be incurred by you.
When was TopForex founded?
TopForex was founded in 2009 in Cyprus. TopForex is regulated by Cyprus Securities and Exchange Commission (CySEC).
How many people use TopForex?
TopForex is a worldwide recognised agent with 10,000+ clients.
Where is the TopForex head office?
TopForex has its head office in Cyprus
Does TopForex offer negative balance protection?
No. TopForex does not provide negative balance protection. If your balance is negative, TopForex indicates you contact client services. For this, you are able to fix any imbalances in your own account.
Does TopForex offer guaranteed stop loss?TopForex regrettably, doesn't provide guaranteed stop loss. TopForex provides a chance to its dealers to close their trade at their specified price. Aside from that, TopForex does not offer guaranteed stop loss.
Does TopForex allow scalping?Yes, TopForex do permit scalping. Many traders across the world select TopForex due to their scalping services. They offer trading on MT4, Web Trader, Tablet & Mobile apps which allow this.
Does TopForex allow hedging?
Yes, TopForex does allow hedging.
Can you trade energies with TopForex?
Yes, you can trade energy stocks with TopForex
Can you trade agricultural shares with TopForex?
Yes, you can trade agricultural stocks with TopForex
Can you trade cryptocurrency with TopForex?
No, unfortunately you cannot trade cryptocurrency with TopForex
Can you trade metals with TopForex?
Yes, you can trade metals with TopForex
Can you trade UK Shares with TopForex?
Yes, you can trade UK shares with TopForex
Can you trade US Shares with TopForex?
Yes, you can trade US shares with TopForex
Can you trade Japanese Shares with TopForex?
Yes, you can trade Japanese shares with TopForex
Can you trade German Shares with TopForex?
Yes, you can trade German shares with TopForex
Does TopForex accept bank transfers?
No, TopForex does not accept bank transfers.
Does TopForex accept credit cards?
No, TopForex does not accept credit cards.
Does TopForex accept PayPal?
No, TopForex does not accept PayPal.
Does TopForex accept Skrill?
No, TopForex does not accept Skrill.
Does TopForex accept Payoneer?
No, TopForex does not accept Payoneer.
Does TopForex accept Neteller?
No, TopForex does not accept Neteller.
Does TopForex offer Live Chat customer support?
No, TopForex does not offer customer support through live chat.
Does TopForex offer phone customer support?
No, TopForex does not offer customer support over the telephone.
Does TopForex offer email customer support?
No, TopForex does not offer customer support through email.
What languages can TopForex communicate in?
TopForex has the ability to communicate and support customers who speak:
Does TopForex have a wikipedia page?
No, TopForex does not have an official wikipedia page.
Does TopForex offer demo accounts?
Yes, TopForex offers demo accounts so you can learn their systems before risking any real money.