Top1 Markets Review - is it scam or safe?

Name: Top1 Markets
Brand: Top1 Markets
Rating: 2 (1 reviews)

RATING: 2 / 1 REVIEWS

Top1 Markets is an offshore broker. Your money is not safe.

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Trading Accounts and Conditions

Trading account	Min. deposit	Max. leverage	Spread
Standard	N/A	1:100	0.8 pips

Top1 Markets presents itself as a global forex and CFD brokerage regulated in Australia and Vanuatu. It uses the industry leading MetaTrader5 platform, but the trading conditions remain largely unclear. Here are our impressions of this broker, after we made a thorough research on the company and tested its platform. Make sure you read it prior to investing with

Top1 Markets Advantages

Holds an ASIC license

The strongest advantage of this broker is that it is allegedly owned and operated by a company authorized and regulated by the Australian Securities and Investments Commission (ASIC).

ASIC is one of the most respected regulatory agencies on a global scale. One of the key rules they enforce is the mandatory implementation of segregated accounts. This is a principle which prevents brokers from mixing clients’ funds with the company’s, hence eliminating the possibility of some forms of fraud. Furthermore, brokers licensed in Australia must allow regular audits and have capital holdings of at least AUD 1 million, which is a high bar for most scammers.

Trading in wide range of assets on the MT5

Furthermore, Top1 Markets offers various assets for trade including currency pairs, CFDs on stocks, indices, precious metals, and cryptocurrency pairs. Such diversified product portfolio is always appreciated by traders, as well as the availability of the MetaTrader5 (MT5) platform.

The MT5 pretty much the same as the MT4 and has most features valued by traders, such as the top-notch charting, the support of automated trading and the MQL5 programming language through which traders can alter or design their own auto-trading bots or run ready-made ones.

>> Check out the top-rated MT5 brokers <<

Attractive demo spreads

When opened a demo account with Top1 Markets, we found out the EUR/USD spread floating around 0.8 pips, which is lucrative for traders,

Click on the image to zoom in.

Keep in mind, however, that the cost of trading is not as important as the security of your funds. Below, you may check out the real time spreads of some of the most prominent forex providers.

>> Compare the spreads of top forex brokers in real time <<

Top1 Markets Disadvantages

Not licensed in Vanuatu, despite the claims

Apart from holding a license with ASIC, Top1 Markets also claims to be regulated in Vanuatu as well as in the Cayman Islands.

Click on the image to view larger.

We always check carefully whether the brokers we review are indeed licensed as claimed, and advise investors to do the same. Upon running a check on the online registers of Vanuatu Financial Services Commission, we can quickly conclude that Top1 Markets is not among the regulated entities. As for the Cayman Islands, forex brokers there are not regulated, so there is no need to verify this information

The fact that the broker’s website publishes corporate information which is deceptive and misleading inclines us to suspect that the ASIC authorization of Top1 Markets may also be fake. There are many brokers who purposely use the details of regulated companies with which they are not associated in any way, in order to mislead investors. This tactic is known as “clone firms”.

Trading conditions not specified

As we mentioned above, Top1 Markets has failed to disclose any of its trading conditions, such as reference spreads, maximum leverage provided, the minimum investment required, and so on. Such lack of transparency is a very worrisome sign, especially on the part of a regulated broker.

Conclusion

Although Top1 Markets appears to be licensed by a reputable financial regulator, we have several concerns regarding this broker. on top of having a very sloppy and unprofessional website, the broker falsely claims to be licensed in Vanuatu. Furthermore, its website doesn’t disclose essential trading conditions, so we would suggest our readers to direct themselves to better trading options to which we have linked throughout this review.

Below, you may check out our list of recommended forex brokers that are licensed in Australia:

>> Find the best ASIC-licensed brokers <<

To sum up the review of Top1 Markets in a few words:

Pros	Cons
Licensed in Asutralia	Not licensed in Vanuatu, despite the claims
Attractive spreads, generous leverage	Zero clarity on trading conditions
Trading in wide range of assets on the MT4	Sloppy website

Latest news about Top1 Markets

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Broker	Country	Regulation	Platform	Min Deposit	Review
	Cyprus, UK, Mauritius	CySec, FCA, FSC	MT4, MT5, Web	$10	Review Website
	Cyprus, SVG	CySEC	MT5, Web, cTrader	$100	Review Website
	Australia, Cyprus	ASIC, CySEC	MT4, MT5, IRESSTrader	$100	Review Website
	Cyprus, Australia	CySec, ASIC	MT4, MT5	$5	Review Website
	UK, Australia, South Africa	FCA, ASIC, FSCA	MT4, Trading Station, NinjaTrader	$50	Review Website
	UK, Cyprus, UAE, South Africa	FCA, CySEC, DFSA, FSB	MT4, MT5, FxPro Markets, cTrader	$100	Review Website
	Cyprus	CySEC	MT4, MT5, Web	$1	Review Website
	Belize	IFSC	MT4, MT5	$100	Review Website
	Cyprus, UK, South Africa, UAE	CySec, FCA, FSCA, DFSA	MT4, MT5, Web	$5	Review Website
	Cyprus, UK	CySEC, FCA	MT4, MT5	$1	Review Website
	UK	FCA	MT5	$5	Review Website
	UK	FCA	MT4, Web, MT4 for Mac	$100	Review Website
	Australia, UK	ASIC, FCA	MT4, MT5, cTrader	$200	Review Website

Traders` reviews for Top1 Markets

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Price feed

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Platform

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Customer service

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Summary

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