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Operating status: SCAM

Website: https://toptrade.group/

Broker violations and abnormal records
  • 2021-06-14 BrokersView has reviewed that Toptrade is an unregulated forex broker
    Toptrade claims to be owned and operated by Widdershins Group LTD, a company registered in Dominica. However, Dominica is an offshore zone which does not require minimum capital requirements that shows company sustainability, as well as does not regulate Forex services and activities. Therefore, the broker located in Dominica is not subject to strict laws and principles of operation. That means investors’ funds in this broker is unsafe and cannot be protected by any laws. Therefore, it is a scam broker.
    Toptrade claims to be owned and operated by Widdershins Group LTD, a company registered in Dominica. However, Dominica is an offshore zone which does not require minimum capital requirements that shows company sustainability, as well as does not regulate Forex services and activities. Therefore, the broker located in Dominica is not subject to strict laws and principles of operation. That means investors’ funds in this broker is unsafe and cannot be protected by any laws. Therefore, it is a scam broker.

Related Complaints

Q&A

Can I deal with Toptrade? Please confirm it for me.

Barbara OSullivan
Denmark
2021-10-19
ANSWER Toptrade is an UNREGULATED offshore broker. This broker claims to be owned and operated by Widdershins Group LTD, a company registered in Dominica. As an offshore zone, Dominica does not require minimum capital requirements that shows company sustainability, nor does it regulate forex services and activities. Therefore, the Dominica-based brokers don't adhere to strict laws and principles of operation, resulting in a certain risk to deal with them as the traders investing in offshore brokers will not be protected by law and not be compensated in case of insolvency. We would recommend you to avoid unregulated brokers like Toptrade and choose properly regulated brokers.
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Is Toptrade regulated in Thailand?

jbmaverick
Thailand
2023-04-10
ANSWER We advise not to trade with Toptrade, an unlicensed, offshore entity registered in Dominica with its domain is sale now.As per information we have about this broker, it claimed to be registered in Dominica, an offshore center which does not require minimum capital requirements that shows company sustainability, as well as does not regulate Forex services and activities. Therefore, Toptrade is not subject to strict laws and rules. Moreover, as we tried to access its website through the link you provided, we found this broker's domain is for sale now, which is a negative indication for a broker as a website is necessary for displaying regulatory status and facilitating trading.Regarding your question, we strongly suggest you avoid Toptrade since entrusting this broker to hold and control your funds or trading with them is very risky, as there are no safeguards in place to prevent fraud or theft. Investors should stay away unlicensed brokers like Toptrade and opt for fully regulated ones instead.
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