TopForex is an online financial services provider that has been in operation since 2009. The broker is based in Limassol, Cyprus, and provides clients with the MetaTrader 5 trading platform for trading multiple financial instruments, including forex, indices, commodities, shares, and CFDs. They make available a good selection of educational resources on their website and also provide a client support team to assist traders. TopForex also offers negative balance protection. The broker has won the following awards in honour of their satisfactory brokerage services: Best CFD Broker and Best Affiliate Program at the 2016 Forex Expo in China. The broker charges zero commission on trades and has maximum leverage capped at 1:100, but the minimum deposit required to open an account is $100.
TopForex Review Introduction
In this TopForex review, we will take a look at some of the most important factors worth considering when choosing a forex broker for your online trading needs. This includes trading platforms, trading tools, research and education, account funding options, customer support, and broker regulation.
You may also wish to view my best forex brokers based on countless hours that I have spent researching and testing hundreds of brokers, all of which you can see in my forex broker reviews. You can also use my free trading tool to compare forex brokers including TopForex.
TopForex Platforms & Tools
Traders are allowed to trade the several available financial assets using the MetaTrader 5 trading platform, which was launched in 2010 to succeed the already established MT4 trading platform. The MT5 trading platform is packed with multiple trading tools to ensure a seamless trading process. The platform features 21 different timeframes, six new types of pending orders, and also allows traders to program their own forex robots using the MQL programming language. Traders can get access to the platform through desktop applications for Windows and Mac computers; a webtrader that can run directly on most modern web browsers, such as Chrome, Safari, Firefox, and Edge; and a mobile app that is compatible with Android and iOS devices. The mobile can be freely downloaded from the relevant app stores.
TopForex Research & Education
Traders are provided with several educational resources that are designed to improve their trading skills and give them a better knowledge of how the financial markets operate. Some of the resources include news, trading articles, and an FAQ section that answers some of the most common questions that traders may have.
TopForex Trading Accounts
The broker offers a single live trading account that requires a minimum deposit of $100 to begin trading. There is also a demo account, which beginner traders need to learn how to trade in a risk-free environment.
TopForex Account Funding
Deposit and withdrawal requests at TopForex are processed using bank wire transfer and credit/debit cards. The various payment methods have different transaction processing times.
TopForex Customer Service
TopForex provides clients with a professional client support team to respond swiftly to all their trading inquiries. They can be reached via the following contact channels: telephone, email, and Live Chat.
TopForex is a registered brand name of Goldenberg Group Limited, a Cyprus Investment Firm (CIF) that is supervised and regulated by the Securities and Exchange Commission (CySEC) with CIF License Number 242/14.
TopForex Review Summary
TopForex is an award-winning retail broker that offers trading services on multiple financial markets through the sophisticated MetaTrader 5 trading platform. Clients are provided with educational resources, and there is a customer support team to assist them. The broker charges zero commission on trades and has maximum leverage capped at 1:100, while the minimum deposit required to open an account is $100. They are regulated in Cyprus by CySEC.
It is worth mentioning that some of the trading products and services in this TopForex review may differ or not be available to traders in some countries due to regulations. As brokers’ terms can change over time, please verify all information is up to date directly from the TopForex broker website which you can visit by using the link below.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A large percentage 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.