Top1Markets Review – Top Reasons To Avoid Investing With This Dubious Firm

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Top1 Group Limited owns several entities with questionable legal status and background. Because the firm kept shifting registration and offices from one offshore zone to another, authorities have smelled something rotten brewing behind the curtains. Therefore, SC and KNF have issued warnings against this service provider.

Currently under ASIC strike-off action, this brokerage brand no longer operates as a legal entity. We advise you to carefully read the following Top1Markets review, as we untangle the complex web of lies and fabrications carefully knitted by the fraudulent entity running this domain. 

The website belongs to the TOP1 GROUP LIMITED, currently registered in Samoa with an operational address in Hong Kong. The company has a history of offshore registrations, considering it was previously incorporated in Cayman Islands.

Offshore licenses bear little to no value anyway, considering they are very loose compared to the ones issued by strict regulators like FCA, ASIC, BaFin and CySec.

In the scam industry, the people who advertise these illicit firms are known as boiler room agents, and their strategies range from persuasion, extortion, to even false romance.

Whatever the underlying tactic, the result is the same- victims end up with large financial loss. Countering this is often difficult without legal aid, so give our experts a call if you need help with a chargeback.

The reason why this business was blacklisted in Malaysia is because they clearly offer their unlicensed services there. As evident from the statistical analysis, the majority of clientele comes from these areas:

Whether or not you reside in any of these countries, it is highly recommended to double check your broker of choice before investing. And if you need help in restoring your funds lost to illicit broker dealers, please contact our legal service.

Majority of the trading activities on the website are done via the MT5 software. Known for its speed, reliability and competitive features, this has been a preferred trading terminal for years now. You can access it by downloading the desktop version for Windows or Mac. 

There’s also talk about a web trader, but after getting to the client zone, we weren’t able to locate this terminal. 

Leveraged trading on the site is available on the following products sorted in groups:

The provided demo comes with $100,000 in virtual currency, which should be sufficient for practice. Be advised that many fraudulent firms offer demo accounts as a part of the trap.

These demos don’t necessarily represent the actual service, and build a skewed image where trading is easier than in reality.

The maximum leverage on currency pairs traded is 1:1000, although not on all other instrument groups. For crypto, this ratio climbs up to 1:10, which is still extremely risky. Indices are traded under leverage of 1:200 tops. 

Trading fees are also way above industry leverage. The website charts show the starting spreads on EUR/USD to be 12 pips, which is absolutely unacceptable, when there’s regulated brokers that offer spreads lower than 1 pip.

Right after registering for an account, you can pick your poison from this con artist. You can claim the 100% deposit bonus, and take the $100 in addition. While withdrawal terms for the 100% remain unsaid, the $100 can be withdrawn if you manage to make a turnover of 3 lots in 14 days. 

The minimum amount for payout fluctuates between $100 and $50 depending on the selected payment channels, and the withdrawal fee is $10 + a $6 transaction fee. The minimum remaining balance must be above $10.

When we tested the Top1Markets withdrawals, we found an unknown BTC wallet address as a default payment channel. It’s possible that payouts are automatically redirected to this address, and swallowed by the schemers.

This company changes their nation of incorporation more often than a snake sheds its skin. Wherever Top1Markets tried to obtain any license, they were quickly either denied the privilege, or were subjected to a strike-off.

Don’t expect these people to act with good faith. Get in touch with our professionals via the live chat, and book your free consultation today in order to begin a chargeback.

This is an untrustworthy platform that doesn’t currently own a Forex license, although they did before.

Most probably yes. As confirmed by SC and KNF, they provide services without a license and they currently hold no valid regulation. In case of fraud, contact us for help with chargeback.

MT5 is the offered trading software. Additionally, the proprietary app is available for Android users.

The post Top1Markets Review – Top Reasons To Avoid Investing With This Dubious Firm appeared first on Global Fraud Protection.


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