Topinvesttrader Review: Avoid Topinvesttrader.com

The increased accessibility and the rise of online brokerage firms have promoted growth in the global forex market. There are also many trading platforms, like MetaTrader 4 and MetaTrader 5, which have advanced tools for technical analysis. Traders can also access economic news through their mobile phones thanks to the internet. Trading is also made easy with the use of artificial intelligence bots. To trade profitably, however, traders only need to engage with honest and trustworthy brokers. 

As the market grows, new scams emerge almost as frequently as new digital coins. And while investors in the sector have become wary of potential fraudsters, they continue to fall victim to false promises and deceptive schemes. With forex trading, some specific red flags can help identify if an opportunity is too good to be true. Knowing what to look for in any potential investment is key to staying safe. Topinvesttrader is one of those new shady brokers you should stay away from.

About Topinvesttrader.com

The broker claims to offer users access to numerous helpful trading resources and tools. To make educated trades, investors need access to resources like market news, research, and training materials. The broker purports to offer traders the assistance they need to make informed trading decisions. They claim that you can trade stocks, cryptocurrencies, and forex. They claim to deal with a digital currency that is controlled by cryptography. Another bold claim is that the company is globally renowned in over 170 countries. They are situated in London, UK, according to their website.

Apart from universal access, the firm makes some enticing promises to anyone who signs up for their services. One is that you will get 8% back when you use the Topinvesttrader Visa Card. This is something we highly discourage since the company cannot be trusted. When looking at their website, we also noticed something else very peculiar. At the bottom, they requested users download the TeamViewer and Anydesk. These are remote desktop apps that have nothing to do with trading. It is obvious that this financial swindler wants to access your computer for shady reasons. They also claim you can earn up to 14% interest on your crypto assets. This is false.  

Founders and Team

There are always the original brains behind an enterprise. There must also be management and staff in place. According to its website, Topinvesttrader.com was operating even in 2016. However, the broker mentions neither the company’s founders nor its current CEO on the website. We looked into the website’s registration date to ensure accuracy. It went into effect on 2022-09-26 and will expire on 2023-09-26. The business will therefore run for only one year. That is enough time to have conned many people. Best avoid these scammers before they use you to enrich themselves.

Topinvesttrader Contact Details

Outstanding customer service is a differentiating factor for many businesses. A reliable company should be there whenever you need them. Customers should be able to reach them physically if necessary. Maintaining communication with your broker is essential when trading Forex. They should inform you immediately if your account is too low on funds. A reliable broker also provides daily email updates so you can monitor your trades.   

This broker’s website lacks reputable means of communication. They simply provided an email address, phone number, and a purported London address. You need more than these if you want customers to take you seriously as a financial brokerage company. Additionally, they are not accessible via other channels, such as social media. They have provided scanty information so nobody will reach them if something goes wrong.

Topinvesttrader Regulation Status

When researching a potential financial services provider, it is vital to find out as much as possible about the firm behind the operation. Some things to look for are its physical location and the types of licenses it holds. Legit crypto companies will also give you access to all the necessary legal documents. However, the fact that the data is publicly accessible does not always prove that it is accurate. Always double-check the documents to ensure their authenticity. 

The company gives us the impression that it is based in London because of the address. If that is the case, it should be regulated by the UK’s Financial Conduct Authority (FCA). We searched the regulator’s website and found the company was not in their database. If the FCA has not licensed them, it means they either did not apply, or they did but failed to meet the requirements. The regulatory authorities have strict requirements to protect investors’ money. Many of these shady brokers fail to meet the requirements and opt to scam people.

While looking at the Terms and Conditions, we also noticed something strange. We noted that the company mentions Bulgaria, Saint Vincent, and the Grenadines (SVG). As a member of the European Union, Bulgaria is in a regulated jurisdiction. We, however, did not find any proof that the Financial Supervision Commission (FSC) in Bulgaria has licensed the firm. As for SVG, this is an offshore jurisdiction. The region does not regulate brokers. It is, therefore, dangerous to deal with a broker that claims to be in this island state. 

Be wary of the many bogus brokers who operate in the financial services industry, especially if you want to invest in financial instruments via the internet. Ensure the firm is authorized and regulated by a regulatory authority, such as the FCA or some EU regulator like the Cyprus Securities and Exchange Commission (CySEC). With a regulated broker, your funds are guaranteed if your broker goes bankrupt. There are also essential safeguards, like transaction reporting, to further protect investors and promote market integrity and transparency. Likewise, brokers governed by the law are obligated to keep their own money separate from their clients’.

Trading Conditions

If you go to the website of a trustworthy broker, you should be able to obtain comprehensive explanations of the various trading options available to you. The minimum deposit, order execution, trading instruments, leverage, swap, commissions, spread, and so on are all examples of such factors. In addition, you may open a trading account with most of these brokers and invest as little as $10. Unfortunately, primebitcoinhub.com does not include these specifications.

The firm’s advertisement stating it facilitates cryptocurrency trading is untrue. This is because the FCA requires all UK-based brokers to follow its regulations. These guidelines include a prohibition on cryptocurrency trading by retail investors. The company claims to offer customers bonuses in the Terms and Conditions. This also violates the FCA rules and thus cannot be accurate.    

Deposit and Withdrawal Methods

The broker is vague on which payment options it supports. We encountered a technical issue while attempting to access their deposit menu. From the Terms and Conditions, we noticed some disturbing clauses. To withdraw money, a trader needs to print a withdrawal form, print it, sign it and submit it. They also note that it may take about five business days for the money to reach your account. Their depositing process is, however, relatively straightforward. This shows the company is making it easy for you to deposit but hard to withdraw your profits. Stay away from them!      

Final Verdict

Topinvesttrader is a scam broker. You risk losing all your hard-earned money if you trade with them. Despite their attractive offers and aesthetically appealing website, they are not what they claim to be. You should be careful in the forex market and always trade with transparent and honest crypto companies. A legit broker hides no vital information and is always open to any inquiry, unlike these shady ones.

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