Reason to avoid: No License
Listed Date: October 31, 2018
Top 3 Regulated Forex Brokers
Beware TopTrade is a Non Licensed Broker. It is NOT SAFE to trade.
- Company name:
PayPeq Holdings OÜ. TopTrade Ltd.
- Registration Address/ License:
Estonia. No License, No Regulation.
At first glance, TopTrader seems to be a legitimate broker, as the company presents themselves as one of the leading global Forex and CFD trading providers. The firm opens access to opportunities across thousands of financial markets through their intuitive platforms and helping to trade financial markets through CFDs.
Moreover, the broker assuring that the implemented strictest security measures ensure the strength and stability of the trading and integrity to the safest trading account. However, the trademark TopTrade is used by the company, which is not showing clearly its location, therefore regulatory status, while the only fact they reveal is their payment provider PayPeq OU based in Estonia. For that reason, all the states may not be a fact, as simply none of the authorities confirm this status.
Considering all the information, it shows that the company definitely not regulated, have no legal license to deliver its financial service, therefore might be just another scam. Moreover, after looking at the TopTrade reviews on several review websites we found nothing but complaints or the negative experience faced by the traders. In our conclusion, we would advise avoiding TopTrade company and their proposals by any mean, as it’s not the business to trust.
Besides, there are so many attractive offerings among the Forex industry, so we always ask why to involve yourself into the risk to lose funds and to trade with a non-regulated entity. Of course, it is much safer to choose among the brokers that located and regulated in jurisdictions alike UK, Cyprus or Germany, as the safety always goes first in trading.