TopForex is a retail trading broker that is regulated by CySEC to provide trading services on several financial markets, such as forex, indices, commodities, shares, and CFDs, via a range of sophisticated trading platforms. Traders also benefit from some useful educational resources, whilst there is a dedicated client support team on hand to assist them.
TopForex Review, Pros & Cons
- Regulated brokerage firm
- An advanced trading platform
- Educational resources
- Several financial instruments
- No USA clients
- Limited trading tools
- Limited account funding options
- No MetaTrader 4 or cTrader platforms
In this detailed TopForex review, our online broker research team has covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
Headquartered in Limassol, Cyprus, TopForex provides their clients with comprehensive investment services, offering access to trade multiple financial assets via the MT5 trading platform. The broker’s top priority is the safety of clients’ funds; hence, they state that they adhere to strict regulatory laws and offer negative balance protection to clients. Over the years, the broker has won several industry awards, including the Best CFD Broker and Best Affiliate Program at the 2016 Forex Expo in China.
TopForex is a registered brand name of Goldenburg Group Limited, a Cyprus Investment Firm (CIF) supervised and regulated by the Cyprus Securities and Exchange Commission (CySEC) with CIF Licence No 242/14.
The broker offers its services to clients from different countries or jurisdictions where the use of such services would not be contrary to any local law or regulation.
Some TopForex features and products mentioned within this TopForex review may not be available to traders from certain countries because of legal restrictions.
TopForex provides traders with the highly advanced MetaTrader 5 trading platform, which was developed in 2010 to succeed the MT4 trading platform, having all of the same features of its predecessor but with extended capabilities have been added. The platform features 21 different timeframes, six new types of pending orders, and so much more. It is available in desktop, web, and mobile versions.
TopForex Trading Tools
The TopForex website does not feature any standalone trading tool. However, this is compensated by the vast array of useful trading tools that are built into the MT5 trading platform.
The broker provides some educational resources on their website, and they include news and trading articles. There is also an FAQ section that offers quick answers to some of the common questions that traders may have.
The broker offers the following trading instruments: forex, indices, commodities, shares, CFDs, and more
TopForex Accounts & Fees
Traders are allowed to open a demo account for practice purposes and a live trading account for actual trading.
As broker fees can vary and change, there may be additional fees that are not listed in this TopForex review. It is imperative to ensure that you check and understand all of the latest information before you open a TopForex broker account for online trading.
The broker’s client support team is always available to respond to clients’ inquiries. They can be contacted through telephone, email, and Live Chat.
TopForex Deposit & Withdrawal
The following payment methods are accepted at TopForex for both account deposits and withdrawals:
- Bank wire transfer
- Credit/Debit cards
The transaction processing time may vary depending on the payment method.
TopForex Account Opening
Traders who are looking to create an account with TopForex can do so in few easy steps: click on the ‘Open Live Account’ button, fill in the registration form with the required details, and proceed to the next page to fill in more details.
It is imperative to ensure that when you are going through a broker application, you clearly read all of the broker’s terms, conditions, and policies. Only proceed if you fully understand and agree to them.
TopForex is a regulated online trading broker that gives traders access to trade various financial instruments using the sophisticated MetaTrader 5 trading platform. Traders are also provided with a selection of educational resources as well as a client support team to aid their trades.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82.74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.