Overview of Toptrade.group Review:
Toptrade.group claims to be one of the leading brokerage firms in the world with the trust of millions. They advertise themselves as extremely dedicated to helping their customers earn profits by providing instant access to the global markets on top of attractive bonuses. They offer some 180 trading instruments as well. However, you will soon realize that Toptrade.group is nothing but a big scam in cover. If you like the review and find it useful, make sure you share it with your loved ones to save them from this scam as well. Read on to know more about the Toptrade.group scam in this detailed Toptrade.group review.
In this section, we will specifically be discussing all the offers and demands met by Toptrade.group. We will also be raising the red flags against the working of the company wherever necessary.
Upon checking on their website and thoroughly reading whatever information was present there, we realized that Toptrade.group is owned and operated by another company that goes by the name Widdershins Group LTD. Upon a little investigation on the alleged parent company, we got to know that it is actually registered in the Commonwealth of Dominica. For those of you who do not know, the Commonwealth of Dominica is a part of the offshore zone and the brokers regulated there cannot be trusted upon. We must never trade with a broker that is offshore regulated.
Toptrade.group Minimum deposit, Leverage, and Spread:
Minimum Deposit, just like the name, is normally asked in a very less amount by the legitimate brokers. This deposit usually lies in the range of 5 USD to 10 USD. However, the scam brokers take advantage of this system and demand high amounts as the minimum deposit. In our case, Toptrade.group asks for a minimum deposit of 250 USD. This is a very high amount and is capable of raising a red flag against the scam Toptrade.group is running.
The leverage also plays a vital role in deciding whether a customer can trade safely with the company or not. In our case, Toptrade.group offers leverage up to 1:100. This is comparatively higher than the average of 1:30.
With the two red flags spotted above in the same section itself, we were expecting a third red flag to appear as well. Toptrade.group played it clever and revealed no information about the spreads that they offer. This is yet another red flag against the Toptrade.group scam.
Toptrade.group Trading platform:
The most common preference of the legitimate broker is MetaTrader 4 or MT4. Toptrade.group claims to provide a self-made web trader. When we checked, the web trader was sloppy, full of mistakes, and looked like a cheaper version of an already cheap web trader. This raises yet another red flag against the Toptrade.group.
To conclude, we can safely say that Toptrade.group is a complete scam. We request our readers not to trade with this Toptrade.group scam broker. If you have been scammed by Toptrade.group, file a complaint right now and get solutions for fund recovery instantly.