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Topic Markets (TMFX) Review - Is it scam or safe?

Topic Markets (TMFX) Review - is topicmarkets.com scam or good forex broker?

RATING: 2 / 35 REVIEWS Topic Markets (TMFX)
Topic Markets (TMFX) is an offshore broker. Your money is not safe.

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Trading Accounts

 

Account type  Minimum deposit  Maximum leverage Spread
Classic $100 1:400 From 0.7 pips
Pro $500 1:200 From 0.7 pips

 

 Topic Markets, which is also known as TMFX is a forex broker, which offers two account types, plus an Islamic version. Trading conditions are not clearly specified on the website, which makes distinguishing the benefits of the better type hard. On the other hand, at least the deposit requirement gap is not that big.

 

The Company. Security of Funds

 

 

Company Country Regulation
TMI Hodlidng limited Ltd. Vanuatu  VFSC

 

Topic Markets is registered In Vanuatu, under the name TMI Holding Limited. The company is regulated by the Vanuatu Financial Services Commission (VFSC). On the other hand they also claim to be a trade name, operated by a CySEC-regulated firm - GS Sharestocks Ltd. A quick reffernce with CySEC revealed this company operates two other domains. 

 

This is an interesting situation, given the fact the aforementioned regulatory bodies have very different policies. For now, we have to treat Topic Markets as an off-shore broker. The CySEC registration may be in progress, or GS Sharestocks may be acquiring TMI Holding. 

 

These two financial watchdogs are basically the exact opposite of one another. While VFSC is notoriously famous for its loose standards and the $2,000 capital requirement, CySEC participates in the EU’s MiFID framework. If you want to register a broker in Cyprus, you will need €730,000, instead of the $2,000 in Vanuatu. Furthermore, clients funds must be kept separate from the company’s via the segregated accounts mechanism, which prevents basic scams. On top of that all CySEC regulated brokers participate in a compensation scheme – a structure similar to an insurance policy, where small regular payments are made, in order tho guarantee client’s investments against broker insolvency. The coverage in Cyprus is €20,000 per account.

 

Trading Conditions

 

Minimum Initial Deposit

Topic Markets has set a minimum initial deposit requirement of $100. This is about average nowadays. In the pursuit of new clients some brokers have gone even lower. For instance FXTM only demands $5 for a cent account.

 

This shouldn’t really be an issue for an experienced trader. Having a properly funded account is just as important for long-term success, as having the mental fortitude to withstand several loosing trades in a row.

 

Average spreads & Commissions

Trading costs at Topic Markets are included in the floating spread. While no definitive conditions are mentioned on the website, our tests indicated the EUR/USD spread constantly being under 1 pip, starting form 0.7 in the most liquid market hours. This is fairly competitive, given current offerings by other brokers.

 

That being said, we must note there was an overall feeling of slight lag with the quotes. Precise execution may be hard to accomplish. 

 

Leverage

The maximum leverage at Topic Markets is 1:400 and only available for the Classic account type. Bigger clients will be limited to 1:200. in general, we like this policy, as it allows for better risk management.

 

Both of these levels are extremely high and can be devastating for your account. You may have a different feeling about that, given the fact some brokers offer even higher ratios, like XM who provide 1:888.

 

Trading Platforms

 

Topic Markets offers the ever so popular MetaTrader 4 (MT4) trading platform. This is a solid choice, as the platform is the world’s leader, when it comes to forex. It offers amazing charting potential, so much so, that traders using other platforms often keep a demo account, with an MT4 broker just for analytical purposes. This is reiterated by the plethora of custom made technical indicators, which can be found, tested and bought at the MQL marketplace. By the way automated trading systems, which are called Expert Advisors are also available there.

 

Other than the great desktop version MT4 also has a neat mobile app, which is available for both Android and iOS. It is packed with a lot of features. In fact, at times we feel it may even be too clustered for small screens. One of the most useful things for veteran traders is the ability to access multiple accounts (registered with different MT4 brokers) via a single app installation.

Here is a preview of the desktop version of MT4, as offered by Topic Markets:

 

 

Methods of Payment

 

Payment methods at Topic Markets are few, but cover a lot of bases. They are Bank Transfer Credit Card, Skrill and Neteller. The e-wallets available are very popular, so lots of clients may enjoy using them. 

 

Conclusion

 

Topic Markets is a forex and CFD broker. The regulatory situation with the company is rather awkward. They are regulated in Vanuatu, but they also claim to be operated by another firm, which is overseen by CySEC. The true answer to this dilemma either makes or breaks this broker. On the other hand trading conditions are impressive, with very tight spreads. We have some doubt in regards to potential slippage, as the platform was behaving rather slowly at times. To summarize:

 

Pros Cons
MetaTrader4 Platform Unclear regulatory status
Tight spreads Slowly updating quotes
  Lack of clarity, regarding spreads on different account types

 

Latest news about Topic Markets (TMFX)
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Traders` reviews for Topic Markets (TMFX)

Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

Not withdrawal 77$

Please help me withdrawal process not Setesfy topic market please sir help

Navalkishor patle 08/15/2019

Withdraw procedure

Pls how to withdraw procedure talk sir,....

Baskar 07/17/2019

withdrawals request

Im mani from tamilnadu . im investing my 3000 $
To topic market but no one help me my withdrawals anybody there please help me

Manivannan 07/02/2019

I lost 3000 usd

please dont open account in topicmarket they are scam ,

cheatting

i am looking to petition against topic market , please inform me , those lost money

Vimal Nath Babu 05/16/2019

Total scam

I invested $200 I was promised that they're going to help me with the trading and tell me how it's fine after they got my money I jade to trade by myself I made some money when I wanted to withdraw some of the funds I tried for two weeks without any joy I use my pension money to try and make a better life for myself and these f*ckin people come and cheat you out of it

M a pensioner I get R4000 per month and I got cheated out of if

Phillippus 03/27/2019

Scammers / withdrawal

I had the same blady problem with topic markets
None of these [email protected] are responding to any of my messages or phone calls
I have Been requesting a withdrawal for how long now
2 tickets has been rejected without any [email protected] explanation & its pissing me off now
They will get my lawyers on their back very soon I had enough of you guys now
Trying to steal from people I don't wish anything bad upon anyone or my worst enemy but these bastards must burn in [email protected] HELL!!!!!

Phil 03/21/2019

i lost 1800usd

they are not processing my withdrwal reqst

Vimal Nath Babu 03/18/2019

I am very suffered from Topic Markets

I really suffered from that topic markets.I am a very poor family and they people told me if you invest minimum $100 and earn $5 to $10 per day. But,reality is not earn that much of amount, daily lost $11 to $20. I invest that money 2 months before and I am not with drawl single amount and I lost my total money. In fact I arranged the amount from the local financier and invest this company. Now I am in very critical situation to pay the amount in local financier and so stress..... Topic market gave me a bad physical and mental health.... They teach wonderful lesson ...........

Thilagavathi 03/12/2019

Topic Markets is fraud company

It's fraud company...I want regulator ok London and also to take note of this.

Jyoti Shriniwas Regothi 02/28/2019

Topic market is a scam

Topic market is completely a fraud. When you open an account, they will assign you a manager who will give the trading calls. You can earn but you cannot withdraw the money from your trading account. It has been nearly two months since I gave my withdrawal request. Yet it has not processed. Also, dont go for the PAMM account too. I lost my 250 USD. I don't know how will I recover my lost money. They do not have any customer support. You can register your complaint, but you will not get any reply. Topic market is a scam fraud company.

Harish 02/22/2019

Topic Markets Withdrawal

Guys, if you are based in South Africa, let’s collectively have these bastards investigated. I have details of the guy James and we can open a criminal case against him. Let’s all start a trail of comments to communicate details and take them down.

Lerato 02/12/2019

Give me back my money

I requested funds from my Account manager Sheriff for my dads funeral which is n Wednesday. He assured me that the funds will be in my account today as I needed the funds for funeral arrangements. I am sitting her with no money to bury my dad and Sheriff has not contacted me back. he keeps assuring me that the money has been processed and it has not been. Only when I asked him why if he saying the funds have been that my account still reflects $688. not even 5 minutes later does my account minus by $250 dollar and yet nothing is reflecting in my account. I urge you to give me back my money, I work for SAPA investigation and have opened up a legal case. I will go to every news paper TV show to make other people aware of this company that steals from people. My account number is 4109334. Understand that I will not rest and believe me there are people that will stand with me.

Andrew Hitler 02/05/2019

Very Bad Forex Broker

Dear Friends

Pls dont get cheated by Topic Market pls find the conversation below with Topic Market
jun h S:
withdrawal

Welcome Arjun h S! Your request has been directed to our support team. Please wait for an operator to answer your call.


Call accepted by operator James. Currently in room: James, Arjun h S.

James:
how can i help you?
Arjun h S:
hello...few days before i have requested for 100usd withdrawal ...may i know why it was nt processed
James:
can i get your live account number?
Arjun h S:
4102637
James:
ok.can i know your account manager's name?
Arjun h S:
i dont know that u have to say ...
James:
cant you remember who spoke to you?
Arjun h S:
hello ...y do u want details abt account manager...i am speaking abt my withdrawal request ...if u want he may be sitting with u,,speak to him
Arjun h S:
this is nt a professional way
Arjun h S:
i am speaking abt withdrawal request but u are asking abt my account manager details
James:
your account manager is the one who approves your withdrawal requests.
if you cannot tell his name no problems.
i have no ways to help you.
thank you.
HAVE A GOOD DAY.
Arjun h S:
that is nt your money na so you are saying like this ...

James has left the conversation. Currently in room: Arjun h S.


Chat session has been closed

Arjun HS 01/29/2019

А ruthless broker

Topic a ruthless broker the peoples there are nonsense one
They taking money from customers and giving withdrawals

Jagannath 01/14/2019

Topic Markets is fraud company

Topic market is fraud company

Jyoti Shriniwas Regothi 01/11/2019

No1 looters

Guys don't invest your money in topic markets. They are simply looting you

A monster call 01/09/2019

Withdrawal Problem

I am a South African who was lured by Shandu my Account Manager from Topic Markets. She Promised me accurate signals but in a matter of three weeks I lost all of my investment. Then I invested more, now when I try to withdraw they keep on promising me that it will be in my bank account soon. but I am still waiting. I am starting to believe that they are a scam.

Mthobeli Biyela 12/28/2018

not giving withdrawal to clients

In topic market all guys are bastards they all took born from insects and forest animal really they not humans only taking money from customer's not giving withdrawal to clients

Don't invest in topic markets

Jaggu 12/25/2018

This is pure scam

I invested 7500 rs in topic markets after getting money no one is responding ................they are NO:1 scam in world

raghu 12/05/2018

bastards

these bastards literally loot your money its a big scam don't trust these motherf*ckers, they looted my money and blocked my account. baster names

No:1-SHIVA

No:2-GEORGE(ACCOUNT MANAGER)
and this bastard contact support

No:3 JAMES=MOTHER F*CKER
F*CK YOU ALL
for sure will file a case on you BASTARDS.

Giridhar reddy 11/14/2018

pls don't join in topic market

They r big scam company. they r not replying mails. they hacked my ac.

athira 11/07/2018

withdrawal

It's more than a year now since I sent a withdrawal request. What is really happening with you people?

vusi 11/04/2018

scam

I wan my money topic markets

Malefa 11/02/2018

pls don't join in topic market

topic markets is a scam and they hacked my ac

athira 10/30/2018

Payment issue

This is my first ever ....to seen like this...
Withdrew amt not received... 3105$ i put....frombmy in account. Mlast week....

S Prabhu 10/28/2018

Topic makets took all my money

Topic markets is a scam company. not giving withdrawals and they make my ac in minus

athira 10/24/2018

TMFX Withdrawal

Before you continue reading this review, keep in mind that they are a huge scam. It took them over 8months to pretend to deal with my withdrawal of only $224.20.

When I spoke to Shareef one of the consultants he told me the amount was so small and not a big deal, he will not run away with my money. I am here and still have not received a single cent. The matter was taken to one of the big guys Ryan I believe that’s his name, he told me the amount will be withdrawn, and it was withdrawn from my trading account indeed but not into my banking account. For the purpose of reasoning they wanted the amount to reflect as withdrawn but I have not received it yet. I keep emailing them and they either respond with something that doesn’t help or not respond to my emails at all.

Also they asked me to remove my review because they paid my funds which I have obviously not received. Do not use this broker!!!! They are a scam and you will never see your money again.

South African

Lerato 10/21/2018

Worst Broker ever

Worst Broker ever, Complete Scam. Have No way of treating their Clients. Only Nice to you when u Signing up. Even that is a pure Harassment. Just want u to invest then run away with your money. Dont waste your time with this Company.

Adrian 10/17/2018

withdrawal

hi sir i have one account one your company ,i can send more then time withdrawal request but not any replay, next i can say one your company member interested to new account opening and get money,but after opening they should not make call and give any advice, they stop trading tips i need my money please anybody see this massage please call me india number 7639528999 please please help me

seethapriyan 10/05/2018

No withdrawal of funds

I was contacted by an analyst of topicmarkets.com
I was given a demo of their services, and once I made the deposit to start trading, the analyst stopped calling me. They stopped taking my calls and they have not yet refunded the amount that I deposited with them, $100.
Even after several tries of contacting them, they have now stopped taking my calls.

Archit 09/30/2018

IT's a scam

Topic Markets is a scam. About 1-2 weeks after you pay up, they convince you to let their manager trade for you.

After that they say you need to invest more to save your current investment... if you don't invest more, they stop taking calls and say your account maxed out with their trading manager.

A carefully planned scam.

prashant 09/28/2018

TMFX Scam

I have registered with topic market but after making payment no one really came forward to explain how it works and my balance showed zero only demo account was showing the balance. I was told for weeks that my account manager will call me that day but no one called till now. As long as money was not transferred i was called over the phone 100 times but when they got the payment they just vanished. Dont waste money its a fraud company.

Sanjib Bhaumik 09/10/2018

bad investment

kindly dont put money in topic markets it is like putting money in water .kindly dont do that . insted of that kindly donate to some body and you will get a good blessings . topic markets is totally scam broker .dont waste your money .

Mohamed Azaruddin 09/03/2018

TMFX - Funds withdrawal

Topic markets is not to be trusted, have been using them as a broker when i try to withdraw funds the app wont go through and when i send emails for assistance no response...TopicMarkets is a bad brooker they dont care about their clients

Kagiso moroane 08/24/2018

Bad Investment

I was lured into investing R130 000 by James Mofokeng and that was in 2017 around September. Ever since then I have not received any monies or dividends from my initial investment. Yesterday, the 08th of August 2018 I was called by one of your guys and on engaging with him, it so happened that the line cut us. It is my plea to you to assist me in getting my money back as soon as possible please.
Yours
Tim Modipa
07231262711

Tim Modipa 08/09/2018
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