Top1 Markets Review Is Top1markets.com A Legit Broker

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Top1 Markets Review: Is Top1markets.com A Legit Broker?

Top1markets.com Review: this is the website of a broker that is located in Australia and some offshore locations. Is Top1 Markets a scam Forex broker? Read this revealing review to find out important details about this Forex trading company.

The most vital part of our reviews is the uncovering of if a company or Forex broker is properly licensed or not. To do this, we first establish the location or region where it claims to be based. Then we check with the commission or authority regulating trade there whether it is listed among regulated companies or not.

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Top1 Markets discloses that it is an Australian based broker under the company name, Top1 Markets PTY Ltd. Forex trading in this region is under the supervision of the Australian Securities and Investment Commission (ASIC). When we checked, we found that the commission truly regulates the brokerage.

The other offshore locations where the company operates are Vanuatu and Cayman Islands. We do not check registration details because many traders do not feel assured by the lax rules applied by trading authorities in these regions.

Advantages of Top1 Markets

One of the main advantages of this broker is the ASIC license. because trading with a Forex broker that is licensed reduces many dangers to traders’ funds. Misappropriated funds can be recoverable by the government as well. Licensed brokerages are under many rules of trade and this gives traders a level of assurance.

It is common for Forex brokers to start out with claims of making clients richer. This is because everyone seeking out easier ways to trade effectively does so to make more profit.

However, traders need to be careful about believing everything they encounter in the business sphere. Some are geared to just deceive and steal their funds. Considering what is offered and proofs are effective means of discovering fraud as well as reading our reviews and comparing the offers to those of other legit brokers at the bottom of this article.

Top1 also mentions that it provides a user-friendly trading platform and many trading assets. There are also some other benefits listed on the page.

Top1 Markets Trading Platform

There is mention of the MT5 trading platform provided to clients of Top 1 Markets. We advise readers and traders to always look out for the MT4 or MT5 platforms. The MetaTrader platforms are commonly used because they allow the use of trading robots.

Legit brokers are known to offer at least the popular MetaTrader 4 or 5 trading platform.

These platforms are very good signs as they have become some of the most widely used by experienced traders. They are found to be compatible with various devices’ operating systems. All can be used on desktops, Linus, Windows, iOS, and Android.

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Tools that come with these trading platforms are also found to be useful for traders. It has proven to be user-friendly as well and helps traders in analyzing the market easily.

Trading instruments offered to traders are currency pairs, CFDs on stocks, indices, precious metals, and cryptocurrencies. We know that legit brokers offer currency pairs, indices, CFDs on many commodities and cryptocurrencies. It is important to let traders know the options open to them.

The maximum leverage offered to clients is 1:100 and while this may seem generous, it is not advisable. High leverages can lead to a huge loss of funds as well. Spreads are 0.8 pips.

Spreads of 1.5 pips or below are what is obtainable in the forex industry and traders are asked to look out for this. Leverages of between 1:30, 1:50 and 1:25 are also common among regulated brokers.

Deposit and Withdrawal methods on Top1 Markets

The means of making deposits and withdrawals with this broker are not mentioned. This is unusual because standard and legit brokers make deposits and withdrawals available via Visa, MasterCard, and Wire Transfer. Many offer e-wallets like Skrill, Neteller, UnionPay, FasaPay, and so on.

The minimum deposit requirement is withheld from the public as well which is discouraging. We are aware that the obtainable average within brokers is usually between 100 to $250. Withdrawal fees are not mentioned and this may be because they do not apply. However, we will appreciate it if this is stated.

This information is important so that clients can invest any little amount they can spare. In order to be able to first watch the working of the brokerage. If then they are satisfied with what they see, they can determine when to withdraw their money.

Is Top1 Markets Licensed?

Yes. Top1 Markets is a licensed brokerage. The Australian Securities and Investments Commission (ASIC) permits it to trade in Australia. Since it has some offshore branches, ensure that it is not one of those that is being invested in.

Regulated Forex brokers in Europe, America, Africa, Australia, and Asia are under many strict rules. The regulatory bodies like the FCA, FSCA, CySEC, AISC, NFA and many others have regulations protecting Forex traders from unfair brokers. This is why they come top as recommended Forex brokers.

Support

To get in touch with the broker, dial +61 2 61720053 or send an email to [email protected]

Conclusion

Top1 Markets is properly licensed and thus gets a high rating from us. We have warned our readers to ensure that they are dealing with the Australian branch and not any of the offshore ones. The broker fails to disclose important trading condition details and we find this shady. It supports the MT5 platform and uses a tight spread.

COMPARE WITH A TRUSTED BROKER

Fortrade

Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide.. visit their official website

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