TopTradePro Review (2023)
Is TopTradePro a scam or legit broker?
Ideas in Motion LTD has been suspected as a scam broker. It operates under the brand name TopTradePro is a brokerage firm that provides online currencies and CFDs trading services. The company is registered in the Marshall Islands, an offshore zone, and does not hold any authorization or license to perform financial services. Even though it is mentioned about many jurisdictions that are restricted to open a trading account with TopTradePro.
About TopTradePro
| 🗺️ Registered in | Marshall Islands |
| 🗺️ Type of License | Offshore License |
| 🛡️ Is TopTradePro safe to trade | No |
| 🗺️ Recommended Licenses | FCA in UK 🇬🇧 & ASIC in Australia 🇦🇺 |
| 🖥 Alternative Broker | FP Markets - licensed by ASIC in Australia |
No, it is not safe to trade with TopTradePro. TopTradePro is owned by Ideas in Motion LTD, which is an offshore company registered in the Marshall Islands.
The Marshall Islands is notorious for its practically absent requirements and regulations. Due to the setup cost is low and it does not regulate forex trading. Therefore, it became an offshore zone for shady forex brokers such as MegaTradeFX, Finbitex and more.
According to the website, TopTradePro offers best customer service, superior access to the most useful assets, and trading without commission resulting in last longing profits. However, we have a lot of questions about its reliability. The company doesn’t provide any information about its regulation and most probably is not authorized by any regulatory authority.
The only contact provided on the website is the phone number with a British code. TopTradePro is not regulated to provide its financial services in the UK. Moreover, the broker has gotten into the blacklist of the Austrian regulator Financial Market Authority (FMA):
“TopTradePro / Motion LTD is not entitled to carry out banking transactions in Austria that require a licence. The provider is therefore neither permitted to conduct deposit-taking business.”
Conclusion
We strongly advise all investors and traders to avoid TopTradePro and other brokers from the Marshall Islands. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as City Index, Exness Forex and eToro.
TopTradePro website is no longer active.
Reviews
TopTradePro are scammers and not to be trusted. You will never get your money back. Don’t invest with them.
i was contacted by a broker “Cindy” who claims to work for loss recovery program by Main Trading Centre. She claimed that they will recover the my capital from my previous broker as i was scammed. This was a trial and for them to assist i needed to have an active account with a broker they recommended – “TopTradePro”. I opened the account with them and to date there has been no progress on the recoverey program. I submitted a request to withdraw my funds from the broker over 3months ago and to the time of writing no payment has been made and now they are ignoring my emails.
It seems this Top trade pro has really scammed many people(including me) of their hard earned funds.