Is TopTradePro a scam or legit broker?

No, it is not safe to trade with TopTradePro. TopTradePro is owned by Ideas in Motion LTD, which is an offshore company registered in the Marshall Islands.

The Marshall Islands is notorious for its practically absent requirements and regulations. Due to the setup cost is low and it does not regulate forex trading. Therefore, it became an offshore zone for shady forex brokers such as MegaTradeFX, Finbitex and more.

According to the website, TopTradePro offers best customer service, superior access to the most useful assets, and trading without commission resulting in last longing profits. However, we have a lot of questions about its reliability. The company doesn’t provide any information about its regulation and most probably is not authorized by any regulatory authority.

The only contact provided on the website is the phone number with a British code. TopTradePro is not regulated to provide its financial services in the UK. Moreover, the broker has gotten into the blacklist of the Austrian regulator Financial Market Authority (FMA):

“TopTradePro / Motion LTD is not entitled to carry out banking transactions in Austria that require a licence. The provider is therefore neither permitted to conduct deposit-taking business.”

We strongly advise all investors and traders to avoid TopTradePro and other brokers from the Marshall Islands. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as City Index and eToro.

Share this Article

No news available.

Leave a Reply

Your email address will not be published. Required fields are marked *