Topinvest100 – Are They Safe?

Website URL: www.topinvest100.com

Founded: 2020

Regulations: Unlicensed

Languages: English, Russian

Deposit Methods: Visa, MasterCard, Bank Wire

Minimum Deposit: Unknown

Free Demo Account: Yes

Number of Assets: N/A

Types of Assets: Forex, Metals, Indices, Energies, Futures, Shares

Trading Accounts and Conditions

Topinvest100 has only one account type (Real Account) with an Islamic Account option. There is no information related to trading conditions on the broker’s website. However, the demo account shows that the maximum leverage stands at 1:100 and the spreads start at 1.6 pips for the EURUSD pair.

Topinvest100 – Advantages

The advantages to using Topinvest100 are:

• Support for MT4

The broker offers support for the MetaTrader 4 trading platform. The MT4 platform is one of the most popular in the world because it offers its users a wide range of tools for trading. Users have charting options, tools for market analysis and even algorithms that can be used for automatic trading. All of these tools can be customized to suit traders’ preferences.

• Demo Account Available

A demo account is important because it allows traders to practice their trades, test the trading conditions and check out a broker’s trading platform. So, the fact that Topinvest100 offers such a facility is a positive.

Topinvest100 – Disadvantages

Listed below are all the disadvantages of Topinvest100:

• Unregulated Broker

Topinvest100 states that it is owned by AAA Global Ltd., a company it claims is registered in the Marshall Islands. The Marshall Islands does not have regulations in place to oversee forex and CFD brokers, which means that this jurisdiction would not be able to issue a license to a broker for offering these kinds of financial services.

Since this broker has not mentioned any other information about its regulatory status, we are forced to conclude that this broker is unregulated and operating without legal authorization.

The first thing we need to point out here is that using an offshore broker is very dangerous. This is because locations such as the Marshall Islands have very lax financial regulations. You are not required to have a presence in this location to register a company there. This means that a company could be located anywhere in the world and be completely anonymous, but still be registered in the Marshall Islands.

The second thing is that brokers are regulated for a reason – your protection. Brokers that are regulated have to meet very stringent requirements before they are issued licenses to operate.

This means that brokers have to ensure that their clients’ funds are segregated from their own. This prevents the misuse of client funds. Brokers also need to participate in compensation programs that offer reimbursement to clients if the broker goes bankrupt or is found to be committing fraud. And finally, dealing with a regulated broker means that traders can file complaints if they feel they have been treated unfairly and have the government take action against the broker.

With an unregulated broker, government authorities cannot do much to help traders who have already lost money to unscrupulous brokers.

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• Stipulations on Trading Volumes for Bonus Funds

The first issue we have with this broker is that it offers bonuses. Bonuses are banned in most countries because of their unfair stipulations. And sure enough, we find a very unfair condition related to the withdrawal of bonus funds.

Furthermore, if the trader is not able to meet this trading volume condition within 60 days (or 44 market days), then Topinvest100 will remove that bonus from its client’s account.

According to Topinvest100’s website, a trader must trade lots that equal the bonus amount divided by 4 before they will be allowed to withdraw their funds. So, if a traded avails of a $200 bonus, then the number of lots that the trader would have of trade would be 50 (200 divided by 4). This is such a high target than almost no trader would be able to achieve it.

And finally, the broker states that it reserves the right to change its trading bonuses whenever it wants without prior notice. This is typical tactic used by scammers. If they see you achieving your trading turnover targets they can change the policies so that you end up never being able to withdraw your funds.

It is important for traders to know two key things from this point. First, regulated brokers do not offer bonuses. Second, no legitimate broker puts in such unfair withdrawal conditions.

• No Information on Minimum Deposit Requirement

Topinvest100 has provided no information on the minimum deposit it requires customers to make before they are allowed to trade on the broker’s platform.

For our readers’ information, the market standard for minimum deposits ranges from $100 to $250.

• Limited Payment Methods

There are only two payment methods – bank wire or by a bank card (Visa and MasterCard). This is rather surprising, considering that most legitimate brokers offer multiple payment options such as the regular bank cards, bank wire, Western Union, online payments through e-wallets such as Skrill and Neteller.

Many brokers also offer cryptocurrencies as a payment option. However, we would recommend not using this method unless the broker is regulated. This is because cryptocurrency transactions are permanent. There is no way to reverse payments made using cryptocurrencies. Therefore, unless you are using a trusted broker, it is best to avoid this payment method.

Conclusion 

Topinvest100 may offer the MT4 platform both as a live account and a demo account, but that’s not enough for us to ignore the serious issues we have found with this broker.

This broker is an unregulated and offshore broker. It offers bonuses with unfair conditions. Trading conditions are no specified on their website and there are very limited payment methods.

From all we have investigated, we can say that Topinvest100 is not safe to trade with and we recommend that all traders avoid this broker.

Topinvest100

2.6

User Experience

3.5/10

Payment Options

2.3/10

Security

2.4/10

Support

2.5/10

Reputation

2.3/10

Pros

• Support for MT4
• Demo Account Available

Cons

• Unregulated Broker
• Stipulations on Trading Volumes for Bonus Funds
• No Information on Minimum Deposit Requirement
• Limited Payment Methods