By Nathan Ferguson
TopFX Review
TopFX is a Forex broker with far more assets in its inventory than merely allowing customers to trade in the currency market. It’s a global broker that specializes not only in currency trading but also in other financial markets as well. It first opened its doors to the public in 2010, promising to give Forex techniques that would outperform other types of investments like government bonds, real assets, and shares. Its services are aimed at private and institutional traders. Rather than focusing on just one asset, we’ll take a look at a few of the TopFX brokers’ offerings in this TopFX review.
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Regulated and licensed Broker
TopFX is based in Limassol, Cyprus, and is hence licensed and controlled by CySEC. It also has a cross-border license, allowing it to offer trade and related services to European union member states as well as 75 other nations. TopFX complies with all existing EU and national regulations.
Advantages with TopFX
With TopFX, there’s only one account to choose from. The minimum investment is only $200 USD (or the corresponding base value in other currencies). Depending on the kind of asset used to trade, leverage might be as high as 1:500. Forex pairs are leveraged of up to 1:500, oil and metals up to 1:100, indices have leverage of up to 1:200, and stocks 1:20.
TopFX’s spreads are changeable, beginning at 1.5 pips, and there are no fees or additional costs promised. This broker uses an agent STP implementation model and does not have a dealing desk. This also assures that the broker has no contradiction with their customer. Customers can also benefit from deep profitability from more than 12 Tier 1 banking institutions.
cTrader Trading Platform
TopFX is providing clients with the ability to use a trading platform that is a bit different from Mt 4. The package offers access to the greatest trading platform suite as well as Tier 1 liquidity. They’ve set the package’s pricing competitively to offer new entrants to the industry a boost. TopFX’s Introducing Broker program, which was launched in 2015, allows experienced FX affiliates and Entering Brokers to refer customers to TopFX. With a minimal deposit, retail FX traders may experience institutional-level trading with comparably tight spreads, quick trades execution, and adjustable leverage.
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Easy Registration Process
You might think that creating an account with such a high-end broker would be difficult, but when you will try it, you will be surprised. There is a short application form to fill out, as well as a set of documents to supply to establish your identification. Accounts are available in Euro, Dollar, Japanese yen, and Pounds, and approves in less than 24 hours. New users are helped by the customer care team and provided unlimited access to a really consumer-friendly client area after their account is opened.
Convenient Payment Options
It’s also rather simple to fund a trading account. Bank transfers, credit & debit cards, Neteller, Skrill, and China Union Pay are among the payment options available.
Security
Having a broker that doesn’t care about the security of the platform is a serious concern in online trading. You can’t trade with mental peace, and the constant threat of losing all the money and identity will be over your head. That’s why we recommend trading with a regulated broker, with a robust security mechanism.
All sensitive private and banking data is encrypted using the most up-to-date SSL technology, so you can rest assured that your information will remain private. Client money is placed in Level 1 bank accounts, which means they do not display on the income statement, are out of reach of creditors, and cannot be utilized by TopFX for its own reasons, as required by the regulations.
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Conclusion
Because TopFX is a Premier broker, it can offer a variety of additional services. For traders and other authorized financial organizations, there is a lot of Forex liquidity. Portfolio management service that employs their own proprietary strategy and is supervised by expert traders.