Outrageously secretive and non-transparent is our first impression of this broker. The website doesn’t reveal a single piece of info on the owning company. The address, phone numbers or emails are also omitted from the site. This firm is a definition of shadiness. Our Top-Market review goes into all the relevant details, as we try to discover what’s behind the curtains.
This broker reveals in their legal docs that the court responsible for solving disputes is the court of Estonia. It could imply the broker’s location but Finantsinspektsioon of Estonia has no info on Top-Market.
Since the company doesn’t provide proof of their authorization, we had to investigate it on our own. For that reason, we performed a detailed analysis of public records of regulated brokers. Entities responsible for supervising firms are the financial regulators, and each has their database. Top-Market cannot be found in the register of FCA, ASIC, CySEC, NFA, IIROC, BaFin, or any other. Similar to WaysTrade, if you’re familiar with this fraudster.
If you’re wondering why everyone insists on a Tier 1 license, the reasons are many. The most important ones pertain to the highest security standards in the form of risk-reducing measures and safe-keeping of clients’ capital. As a scammer, Top-Market doesn’t enable segregated bank accounts, leverage restriction to 1:30 or 1:50 and negative balance protection. Their maximum leverage is 1:100.
Moreover, Top-Market is fully anonymous and pays no heed to the mandatory transparency in terms of their company background and monetary transactions. ESMA is especially efficient in EEA, where they enforce MiFID – a special set of regulatory laws that helps battle money laundering.
Top-Market runs their business without respecting or obeying any of these rules and standards. They’re one incognito unscrupulous organization, nothing more.
Future clients are better attracted to a good reputation. Top-Market attempts to build theirs by fake promises of following the MiFID directive. The Terms and Conditions doc implies the broker respects and diligently applies all the MiFID standards. From their own trading parameters and work ethics we can easily conclude that is far from the truth. An unlicensed broker is what Top-Market actually is.
Top-Market has set their first digital footprint not a full year ago. Much like Polus Investment Management, Top-Market has, since then, been operating illegally. Defrauding as many clients as possible seems to be their only goal. That’s why their area of operation covers a wide range of countries. Here are the countries where the most of their victims come from:
After registering an account we were provided with the confusing credentials we couldn’t use for anything. Perhaps because we chose to open a Demo and not a live trading account.
Anyhow, the client area is not responsive and the access to the web terminal requires the credentials we were given. Alas, these didn’t seem to work, as the broker wouldn’t let us preview the software. We’re terribly sorry to disappoint the part of our audience that had high hopes for Top-Market. It seems like trading isn’t possible at all with this broker. It’s a question if they have any platform at all.
Top-Market has the attitude to make you feel at home. The broker will supposedly provide you with all the necessary tools for winning money, yours is just to invest. After that, the financial torture may start.
The fake profit comes from the moduled distribution that shows nothing but more money piling. Compared to a reward that big, more investments seem trivial. So you keep pouring money into the cash-eating machine until you can’t. Then it’s time to withdraw the profit but it doesn’t seem to be possible.
Top-Market uses devious trading volume requirements that are unachievable. They will also apply bizarre fees and charges for every processing step. Your accumulated cash slowly melts away along with your initial deposit. Or the software shows a sudden market change that has made you lose everything.
Looking to access global markets with Top-Market? We know we couldn’t. However, the broker does advertise several asset classes with following trading instruments available:
The spreads and costs at Top-Market vary depending on the account type. That means the broker claims to offer better spreads and lower trading fees if you pay enough. The numbers look too good to be true anyway. Top-Market looks for victims that will fall for the fake trading data. So do not take their claims as ultimate truth.
Differences in the account types resemble the richness in features and other specifics. Lower costing package should only provide the basic options. The advanced and pricey ones have more to offer. This includes trading signals, better spreads, more education. You know, everything regulated brokers offer for much less money. It’s a question if Top-Market has these options at all, considering they’re illicit.
Take a look at the deposit requirements per account class:
This option at Top-Market is bugged beyond explanation and reason. When you choose to open a Demo account upon registration, it doesn’t work! It just lets you into the client area but you can’t do much at all.
Trader is inaccessible and so is switching to live trading account. The credentials you get won’t help you log into the trader so that’s out of reach completely. Top-Market makes a lousy attempt to fool traders how risk-free trading is possible, while it actually isn’t.
Top-Market withdrawals are probably just as functional as everything else about this broker. Or better said non-functional entirely. Being the faux brokerage they are, Top-Market earns by defrauding customers. That means they will display all sorts of scam behavior and methods to stop you from processing payouts.
First they will make you work for it. By this we mean you’ll be asked to provide verification docs and more and more fill-in forms. This by itself stalls the withdrawals significantly. Then you can be forced to pay some more fees. In the end you will learn your entire deposit and profit are used for the fees so you’re left without a penny.
Please understand the value of evidence in these processes. The more of it we gather, the more chances for the authorities to prosecute the scammer and recover your funds.
If you’re unsure what you should do first, contact us for a free input. Our Online Chat is an active channel that will help you reach us in a short notice. We can advise you on how to start the chargeback process and which institution to turn to. It’s vital to make the right move and in time, if you intend on ever seeing your capital again.
Top-Market is in no way regulated or legit. They hold no trading license that would guarantee their legitimacy and credibility. For that reason, we strongly believe this broker is not trustworthy and not deserving of your trust.
Yes, there’s an option upon registration to choose a Demo account. However, it doesn’t work and you can’t access the trader with it.
There’s several programs and promotions at the site and they all supposedly offer better trading conditions and commission for each new client that joins through your referral.
Top-Market is in no way regulated or legit. They hold no trading license that would guarantee their legitimacy and credibility. For that reason, we strongly believe this broker is not trustworthy and not deserving of your trust.
Yes, there’s an option upon registration to choose a Demo account. However, it doesn’t work and you can’t access the trader with it.
There’s several programs and promotions at the site and they all supposedly offer better trading conditions and commission for each new client that joins through your referral.
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