TopviewStake – Are They Trustworthy?
Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.
TopviewStake - DO NOT TRADE WITH THIS PROVIDER
2.5/10
$100
Minimum Depositupdated 2023
The details for opening trading accounts are not indicated on the broker’s website. In order to register with this broker, you only need to go to their sign-up page where you’ll be asked to enter your name, email address, phone number, and password. You’ll also be asked to accept their Terms and Conditions and confirm that you’re over 18 years of age. After this, the trading platform will be made available for you and you can start trading using their demo account.
Try these regulated brokers if you want to start trading cryptocurrencies
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
Website URL: https://topviewstake.com
Founded: 2006 – 2023
Regulations: No License
Languages: English
Deposit Methods: Cryptocurrencies
Minimum Deposit: $100
Free Demo Account: No
Number of Assets: 125+ Markets
Types of Assets: Forex, CFDs, Cryptocurrencies, Stock Indices, Commodities
Trading Accounts and Conditions
TopviewStake does not specify what types of trading accounts they have. All we can tell is that they offer an Islamic account, no further details are provided. If you click on the Islamic Account link, you are taken to the registration page.
We do not have any details of trading conditions either. The only thing we know is that the minimum deposit is $100.
TopviewStake – Advantages
There are no advantages to trading with TopviewStake.
TopviewStake – Disadvantages
Listed here are all the red flags that prove to us that TopviewStake is a scammer:
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Anonymous and Unregulated Broker
The first red flag that tells us that TopviewStake is a scammer is the fact that this broker is completely anonymous and therefore unregulated.
Regulated brokers present their corporate and regulation information clearly and prominently on their websites. And it is easy for anyone to verify the information they present.
With this broker, we do not know anything. There is no information on TopviewStake’s website site about who the owner of this online brokerage is. The information that they have provided is clearly all lies.
On their Contact Us page, this broker gives us a US address. However, there is no contact number provided. Only a form that you need to fill up after which someone from the brokerage will contact you.
It is when we check this broker’s legal documents that we find more information about the entity. According to the documents, this brokerage is owned by TopviewStake Ltd, a financial services company that is registered in the British Virgin Islands. There is no registration number or licensing information provided in their legal documents.
To have an address in the US would mean that a broker would need to be registered with both the National Futures Association as well as the Commodity Futures Trading Commission; to offer forex trading services in the US, a broker needs to be regulated by the CFTC and be a member of the NFA. We found out that no company or brokerage by the name of TopviewStake exists in either the CFTC’s or NFA’s databases.
Added to that, we found that there is no company or brokerage by this name registered in the British Virgin Islands either (which, by the way, is an offshore location and not safe).
All of this information that we uncovered tells us that we are dealing with an anonymous broker, which also means that this broker is unregulated. And all of this means that TopviewStake is a scammer.
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
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Lies About Trading Software
On their website, TopviewStake claims to offer a wide range of trading platforms:
- Web Trading on the TopviewStake GO and TopviewStake Options
- MetaTrader 4
- MetaTrader 5
- Automated Trading on DupliTrade and ZuluTrade
- Mobile Trading on Mac Trading and TopviewStake Social
With so many promises, we were expecting to see a lot. However, when we checked, we found out that this broker offers only a single web-based trading platform, one that is so basic that it can barely be called functional. In fact, we would go so far as to say that it was more of a TradingView chart with a few buttons added on for make it look like a trading platform!
The trading software is a broker’s greatest and only product offering. This is why brokers ensure that they go out of their way to provide their customers with the best possible trading software in the market, which is usually the MetaTrader 5 or MetaTrader 4 platforms.
The fact that this broker offers something so poorly constructed is another red flag that tells us that we are dealing with a scammer.
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Issues with Trading Conditions
A trading platform is incomplete without the trading conditions that a broker offers. The two of them go hand-in-hand. Therefore, a broker also advertises their trading conditions prominently on their websites. They also provide a demo account so that visitors and prospective clients can actually test their trading conditions.
With TopviewStake, we not only have an almost non-functional trading platform, but we also have no trading conditions.
We only know that there is a $100 initial deposit requirement. We have no information on what the spreads are, the leverage ratios are or what any of the other trading conditions are.
This lack of information is just another sign that we are dealing with a scammer.
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Issues with Payments
The first issue with have with regard to payments is that the only way you can make payments is using cryptocurrencies. This is a huge red flag.
Cryptocurrency transactions are designed to be irreversible and anonymous. So, if you make a crypto payment, you cannot reverse that payment and neither can you trace that payment – unless you are dealing with someone you trust. And this is why this payment option is so popular with scammers. Once you have made your payments to a scam broker, there is no way for you to get your money back.
This is why it is important to only use cryptocurrencies when you trust the other party.
Secondly, this broker does not tell us anything about their withdrawal requirements. We are not told the minimum withdrawal amount. We do not know what fees are attached to these withdrawals. We do not know if there are conditions to you being able to withdraw your funds. Nothing.
And this is another red flag, since legitimate brokers provide all details about their withdrawal policy.
All these discrepancies tell us that we are dealing with a low-end scammer.
Conclusion
TopviewStake is a scammer and trusting this broker would be a very bad idea.
TopviewStake
Pros
- None
Cons
- Anonymous and Unregulated Broker
- Lies About Trading Software
- Issues with Trading Conditions
- Issues with Payments
Do not trade with unregulated brokers that will steal your funds - try these regulated brokers:
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
eToro is a multi-asset platform which offers CFD and non CFD products. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.