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Score

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The WikiFX Score of this broker is reduced because of too many complaints!

TOP1 Markets

Cayman Islands|2-5 years|
Regulated in Vanuatu|Suspicious Regulatory License|MT4/5 White Label|Regional Brokers|Australia Appointed Representative(AR) Revoked|High potential risk|

http://www.top1markets.com

Website

Rating Index

MT4/5 Identification

MT4/5

White Label

Top1Group-Demo

Hong Kong
MT5
2

Influence

A

Influence index NO.1

Netherlands 7.42
The WikiFX Score of this broker is reduced because of too many complaints!

MT4/5 Identification

MT4/5 Identification

White Label

2
Server Name
Top1Group-Demo MT5
Server Location Hong Kong

Influence

Influence

A

Influence index NO.1

Netherlands 7.42

Surpassed 48.77% brokers

Biz AreaSearch StatisticsAdvertisingSocial Media Index

Contact

+61 2 61720053
cs@top1markets.com
http://www.top1markets.com
Buckingham Square, Phase 2, 2nd FI, 720 West Bay Road, George Town, Grand Cayman, Cayman Islands.

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Disclosure

Danger

MY SCM
2021-01-01
INVESTOR ALERT LIST
TOP1 Markets

Contact number

English

+61 2 61720053

Broker Information

More

Company Name

TOP 1 MARKETS PTY LTD

Company Abbreviation

TOP1 Markets

Platform registered country and region

Cayman Islands

Company website
Twitter
Facebook

Pyramid scheme complaint

Expose

Check whenever you want

Download App for complete information

Warning: Low score, please stay away! 5
Previous Detection : 2024-03-29
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of the complaints received by WikiFX have reached 6 for this broker in the past 3 months. Please be aware of the risk and the potential scam!

WikiFX Verification

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    TOP1 Markets · Company Summary

    Risk Warning

    Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

    General Information

    TOP1 Markets Review Summary in 10 Points
    Founded 2019
    Registered Country/Region Cayman Islands
    Regulation ASIC
    Market Instruments Forex, Commodities, Indices, Stocks, Crypto
    Demo Account Available
    Leverage 1:1000
    EUR/USD Spread 0.6 pips
    Trading Platforms MT5, WebTrader
    Minimum deposit $20
    Customer Support 24/7 multilingual live chat, phone, email

    What is TOP1 Markets?

    TOP 1 Markets is the retail brand of TOP1 Group. These include TOP1 MARKETS PTY LTD and TOP1 MARKETS LIMITED. These companies provide services under the framework of their local regulations and have their own licenses and service operating permits. TOP 1 Markets is a forex and CFD broker registered in the Cayman Islands and regulated by the Australian Securities and Investments Commission (ASIC, License No. 001276870). The broker offers a range of financial instruments, including forex, commodities, indices, stocks, and cryptocurrencies through MT5 and WebTrader, as well as rich educational materials and 24/7 multilingual customer support.

    TOP1 Markets

    In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.

    Pros & Cons

    TOP1 Markets has several advantages, including regulation by a reputable authority, offering a range of trading instruments and account types, providing multilingual customer support, and offering educational resources to its clients.

    However, there are some potential drawbacks, including the lack of transparency around deposit and withdrawal methods and fees, and some negative reviews from users regarding slippage and withdrawal issues. Therefore, traders should exercise caution when investing with TOP1 Markets and conduct their due diligence before opening an account with the broker.

    Pros Cons
    • Regulated by ASIC • Deposit and withdrawal methods not mentioned
    • Segregated accounts • Clients from the United States, Singapore, Hong Kong, Belgium, Iran, and North Korea are not accepted
    • Negative balance protection • Reports of severe slippage and difficulty in withdrawals
    • Wide range of instruments
    • MT5 supported
    • Low minimum deposit requirement
    • Multilingual customer support

    TOP1 Markets Alternative Brokers

      There are many alternative brokers to TOP1 Markets depending on the specific needs and preferences of the trader. Some popular options include:

      • BlackBull Markets - A regulated broker with competitive pricing, excellent trading platforms, and strong customer support.

      • ActivTrades - A well-established broker with a wide range of instruments, good trading platforms, and 24/5 multilingual customer support.

      • Global Prime - A reputable broker with transparent pricing, multiple trading platforms, and excellent customer service.

    Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs.

    Is TOP1 Markets Safe or Scam?

    Being regulated by the Australia Securities & Investment Commission (ASIC) and offering segregated accounts and negative balance protection are all positive factors indicating that TOP1 Markets is a safe broker. However, it is important to note that no broker is completely risk-free, and traders should always exercise caution and do their own research before investing with any broker.

    Market Instruments

    TOP1 Markets offers 100+ Instruments for trade, including Forex, Commodities, Indices, Stocks, and Cryptocurrencies. Traders can access the most popular currency pairs, including major, minor, and exotic crosses. Commodities such as Gold, Silver, and Crude Oil are also available for trading. In terms of indices, TOP1 Markets offers popular global indices such as the US30, UK100, and DE30.

    Furthermore, traders can also access popular stocks such as Apple, Amazon, and Microsoft, among others. Finally, The broker also offers crypto trading, including Bitcoin, Ethereum, Litecoin, and Ripple, among others. Overall, TOP1 Markets provides a wide range of trading instruments to cater to the diverse needs of its traders.

    Market Instruments

    Accounts

    TOP1 Markets offers free demo accounts as well as three live account types to cater to the different trading needs of its clients. The ECN Account is suitable for both novice and advanced investors, while the Premium Leverage Account is geared towards more aggressive clients who are willing to take higher risks for the potential of higher returns. For those who cannot earn or pay interest due to religious reasons, the Islamic Account is available. All three account types have a low minimum deposit requirement of $20, making it accessible to traders of all levels.

    Broker ECN Account Premium Leverage Account Islamic Account
    Monetary Base USD
    Leverage 1:100/1:200 1:1000 1:100/1:200
    Minimum deposit amount $20
    Spread 0.6 pips 1 pip 0.6 pips
    Daily Management Fee No
    Swap (Overnight) Interest Yes
    Maximum transaction lot per order 20 1 20
    Minimum transaction lot per order 0.01
    Stop-Out Level 50.00%Intraday100.00%(Stop out will execute at half an hour before weekend market closed.) 5.00%Intraday500.00%(Stop out will execute at half an hour before weekend market closed.) 50.00%Intraday100.00%(Stop out will execute at half an hour before weekend market closed.)
    Maximum Position Unlimited 1 Unlimited
    Execution Speed Order executed in 1ms

    Leverage

    The leverage set by the TOP1 Markets is up to 1:100/1:200 for the ECN Account and the Islamic Account. The Premium Leverage Account offers the maximum leverage up to 1:1000, and it should be careful when using such high leverage.

    Spreads & Commissions

    The spread in the ECN and Islamic Account is as low as 0.6 pips, while in Premium Leverage Account is 1 pip. All charging no commissions.

    Below is a comparison table about spreads and commissions charged by different brokers:

    Broker EUR/USD Spread Commissions
    TOP1 Markets 0.6-1 pip No
    BlackBull Markets 0.1-0.8 pip No
    ActivTrades 0.5 pip No
    Global Prime 0.0-0.1 pip AUD 7 round turn lot fee

    Note: The spread and commission data is subject to change and may vary depending on account type and trading conditions. Please check with the broker for the latest information.

    Trading Platforms

    TOP1 Markets offers two trading platforms for clients, including the widely used MetaTrader 5 (MT5) platform and a proprietary WebTrader. These platforms are available for PC, iOS, and Android devices, providing clients with a seamless trading experience across multiple devices.

    The MT5 platform is equipped with advanced charting tools, a wide range of technical indicators, and the ability to execute trades directly from the charts. The WebTrader, on the other hand, is a browser-based platform that can be accessed from any device with an internet connection, making it a convenient option for traders who prefer not to download software onto their devices. Both platforms also feature a user-friendly interface, real-time market updates, and customizable trading settings.

    MT5

    Overall, TOP1 Markets' trading platforms are well-designed, user-friendly, and offer a range of advanced features suitable for both beginner and experienced traders. See the trading platform comparison table below:

    Broker Trading Platforms
    TOP1 Markets WebTrader, MT5
    BlackBull Markets MT4, MT5
    ActivTrades MT4, MT5, ActivTrader, WebTrader
    Global Prime MT4, MT5, MyFXBook Autotrade

    Deposits & Withdrawals

    Information on deposits and withdrawals is not mentioned on Top1 Markets website currently. It's essential for any broker to be transparent about their payment options and fees. The lack of information on their website may raise concerns for potential clients, especially when it comes to trusting the broker with their funds. It's recommended that clients reach out to TOP1 Markets' customer support for clarification on deposit and withdrawal methods and fees before opening an account.

    TOP1 Markets minimum deposit vs other brokers

    TOP1 Markets Most other
    Minimum Deposit $20 $100

    See the fee comparison table below:

    Broker Deposit Fee Withdrawal Fee
    TOP1 Markets Not mentioned Not mentioned
    BlackBull Markets None None
    ActivTrades None None
    Global Prime None None

    Please note that these fees may be subject to change and may vary depending on the deposit/withdrawal method used. It is recommended to check with the brokers directly for the most up-to-date information.

    Customer Service

    TOP1 Markets provides extensive support and assistance to its clients in 11 languages: English, Simplified Chinese, Traditional Chinese, Thai, Vietnamese, Spanish, Malay, Korean, Indonesian, Tamil and Hindi. The customer service is available 24/7 via live chat, phone and email. Besides, you can follow them on some social networks including Twitter, Telegram and Facebook. The availability of a FAQ section is also a useful resource for clients.

    Customer Service

    Overall, TOP1 Markets' customer service is considered reliable and responsive, with various options available for traders to seek assistance.

    Pros Cons
    • 24/7 multilingual support N/A
    • Live chat available
    • Social media presence for additional support
    • FAQ section available for quick answers

    Note: The information provided is based on online research and may not be exhaustive or fully up-to-date.

    Education

    TOP1 Markets offers a range of educational resources for traders of all levels, including beginner courses on trading basics and terms, as well as more advanced topics such as technical and fundamental analysis. Their online courses consist of a combination of articles and videos that are easy to understand and cover a wide range of trading-related topics. They also provide market analysis to keep traders up-to-date with the latest market news and trends. Overall, TOP1 Markets' educational resources are comprehensive and designed to help traders improve their skills and knowledge.

    Education

    User Exposure on WikiFX

    It is important to exercise caution when investing with any broker, and this includes TOP1 Markets. It is concerning to see reports of severe slippage and issues with withdrawals from some users. Please be aware and exercise caution when investing. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section, we would appreciate it and our team of experts will do everything possible to solve the problem for you.

    User Exposure on WikiFX

    Conclusion

    In conclusion, TOP1 Markets is a regulated broker that offers a variety of trading instruments and account types suitable for different trading strategies. Their MT5 trading platform is user-friendly and accessible on various devices. Additionally, they provide multilingual customer support and educational resources for traders.

    However, the lack of transparency on deposit and withdrawal methods and fees may raise concerns for some traders. The reported instances of severe slippage and withdrawal issues by some users should also be taken into consideration before investing with this broker.

    Frequently Asked Questions (FAQs)

    Q 1: Is TOP1 Markets regulated?
    A 1: Yes. It is regulated by Australia Securities & Investment Commission (ASIC).
    Q 2: At TOP1 Markets, are there any regional restrictions for traders?
    A 2: Yes. The information on their website is not aimed at residents of the United States, Singapore, Hong Kong, Belgium, Iran, and North Korea.
    Q 3: Does TOP1 Markets offer demo accounts?
    A 3: Yes.
    Q 4: Does TOP1 Markets offer the industry-standard MT4 & MT5?
    A 4: Yes. It supports MT5 and WebTrader.
    Q 5: What is the minimum deposit for TOP1 Markets?
    A 5: The minimum initial deposit to open an account is $20.
    Q 6: Is TOP1 Markets a good broker for beginners?
    A 6: Yes. It is a good choice for beginners because it is regulated well and offers various trading instruments with competitive trading conditions on the leading MT5 platform. Also, it offers demo accounts that allow traders to practice trading without risking any real money.

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    User Reviews

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    Comments

    Write a review

    花香
    more than one year
    They are fake, never give a damn about your investment, show fake reviews also and take investments. 6 months gone and I am still struggling with withdrawal, they are big frauds.
    2023-02-24 14:14
    Reply
    0
    0
    Hufangu
    more than one year
    The lowest spread I've traded on this platform for EURUSD pairs is 0.6 pips, which I'm pretty happy with. The order execution is also very fast. The customer service staff is very professional and patient, but the withdrawal is not as fast as they promised. It has been 4 working days and my money has not arrived yet.
    2022-12-14 15:14
    Reply
    0
    0
    FX1051863289
    more than one year
    I haven’t decided to start real trading. It seems too difficult for me. I'm afraid I will lose money. So I just want to learn more knowledge first. The educational videos provided by this broker look good, and I’m ready to follow them and learn by myself. But I saw that the reputation of this broker on the Internet seems to be very terrible...
    2022-11-25 11:56
    Reply
    1
    0
    FX1031445094
    more than one year
    See what happened? Top1 markets’ official website cannot be opened…customer support is also unreachable… an agent contacted me two weeks ago, saying this platform is profitable, once I invest, I can gain high returns. I did invest $500, then lost it all within just 3 days. They maliciously manipulated my account, that’s why I made losses.
    2022-11-24 17:13
    Reply
    0
    0
    FX1013773968
    more than one year
    This top1markets is completely a scam company from top to toe. When I contacted their customer support at first, I expressed that I was not very willing to trade with them, because there are very few deposit and withdrawal methods, which is not very convenient. But your staff repeatedly promised me that deposits and withdrawals are very fast, so I don't have to worry. However, all my withdrawals are stuck in the way now, and customer service!
    2022-11-21 17:46
    Reply
    0
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