TopForex review (2022) Review

The owner of TopForex brand is Goldenburg Group Ltd, which in turn is owned by the Cyprus investment firm CIF, a major figure in the brokerage market. TopForex is regulated by CySEC (Cyprus Securities and Exchange Commission). The main office of the company is registered in the offshore capital of Cyprus – Limassol. From here, to all appearances, the broker conducts the lion’s share of operations and provides technical support for the platform.

1. deposit – $100;
2. Spread – floating, from 3 pips;
3. leverage – 1:200 (the higher the deposit, the lower the leverage);
4. Regulator- CySEC

 

Trading instruments

The largest number of trading instruments is offered on the MT4 platform:

• currency pairs – 62;
• commodities – 6;
• indices – 6;
• CFD – 5

There are less currency pairs on MT5 and xStation.

PAMM accounts, operations with binary options the company does not have.

Trading platform

Quality options available today:

xStation;

MetaTrader 4;

MetaTrader 5.

All of them support Windows OS, and also work as Apple and Android mobile applications. The web-version is available after logging into a personal account on TopForex.

Demo account and Live account

In order to become an owner of the demo account, you need to register in the system first. After you will be offered trade or demo account version. Demo account you can use during 30 days.

What about Live account, you need to make 3 different steps.  At the first stage, the user is asked to fill in the sections “Name”, “e-mail” and “phone” (with the choice of the phone code of the country).

The second step is to specify a real address, zip code, date of birth, individual tax identification number, passport number, area of employment, place of work and even nationality. Then the client is offered to choose one of the offered trading platforms (without downloading yet). On the same page below the company asks the trader to answer a questionnaire consisting of financial questions:

• how much is planned to invest;
• what specific activities will be engaged in the market;
• how he is going to deposit, withdraw money, etc.

The next page of the questionnaire is a short knowledge test of the basics of Forex trading. Finally, the client is asked to upload scanned copies of documents proving his location and personal IDs. If the trading account is not used for six months, the broker begins to charge a monthly penalty – €40.

Customer support

Online chat is available to customers and ordinary visitors to the site. You can keep in touch with the technical support service by e-mail support@topforex.com, as well as by phone +357 2200 9517. Other brokerage services also have their own contacts: payments, purchases, dealing, etc.

Deposit and withdrawal of funds

You can deposit funds to your personal deposit by the following methods:

bank transfer (Swift, Bank Wire Transfer);

credit or debit card (MasterCard, Visa);

Skrill online payment system.

Funds are withdrawn from the system only by bank transfer. It is necessary to download, print and fill out the appropriate paper form, and then send it to the support e-mail box. The minimum withdrawal amount is $250.

The broker does not charge any deposit or withdrawal fee.

TopForex social network

They have active accounts on Facebook, Twitter, Instagram and YouTube. They are active almost every day, also because they are sponsors of roadcycling team, which is doing really well lately.as you can see pretty much everywhere.

Pros

• Activities are regulated and monitored by the financial commission;
• Demo account;
• Large arsenal of working tools;
• 12 years history

Cons

• No swap-free option
• Small number of ways to deposit, withdrawal;

Our Score