TopEU Review: Beware of This Shady Broker

Overview of scam broker TopEU

TopEU Review, As a company that doesn’t reveal much about itself, we can’t give hope here. Thus, we won’t jump to conclusions too early.

Generally speaking, they are not into the business for so long without a reason. But if they will stay there, you can find out the chances if you read our TopEU review.

Who Is TopEU Broker?

The company doesn’t share any address or contact information. Therefore, we don’t have even an assumption about where they come from. Thus, somewhere in the T&Cs, we could find something valuable.

In fact, traders are required to inform themselves about Swedish Governing laws. So, all the trading conditions should comply with Swedish regulations. But also with European Securities and Markets Authority  (ESMA).

Legal name: N/A
Regulation: Unregulated
Registered in: Sweden (allegedly)
Established: 2012
Website: Topeu.com
Financial Authorities Warnings: N/A
Contacts: [email protected]
If withdrawal is possible: Highly unlikely
Fees: $50 for wire withdrawal / $35 for card withdrawal + 10% of the amount if requirements are not met
If Active on Social Media: No
Investor Protection: Not available

TopEU Regulation and Security

In general, all financial regulation in Sweden is provided by Finansinspektionen (FI). That’s the most reliable regulator there and we are searching there first. Sadly, this broker is nowhere to be seen in their registers.

Since that is not enough proof for us, we are checking some other Tier 1 regulators. In this case, FCA, BaFin, CNMV and CONSOB. These are highly trusted ones in Europe and provide the highest security standards. Thus, the TopEU scam broker doesn’t think that. That’s why in the end they don’t have negative balance protection and segregated bank accounts. These are facts you should keep in mind while choosing a broker.

TopEU Broker Profile

Let’s jump right into it. Here are a few important features that this broker provides. Nothing more than any other regulated broker.

Trading platforms: Web trader
Account types: Simple, Smart, Complete, Gold, Platinum, VIP
Financial Instruments On Offer:
  • Forex                         USD/GBP, AUD/NZD, SGD/JPY
  • Commodities              gold, silver, palladium
  • Indices                       S&P 500, Nikkei 225, AU 200
  • Shares                       Master Card, Deutsche Bank
  • Cryptocurrencies       BTC, LTC, XRM
Maximum leverage: 1:200
Minimum Deposit: $250
Commissions/bonuses: Available
Mobile app: Not available
Desktop app: Not available
Autotrading: No
Demo account: No
Education or Extra tools: No

Is TopEU Broker Safe?

Considering all the missing security features, they are not. On top of that, with a leverage of 1:200, they violate directly ESMA rules. If you remember, the allowed leverage for retail traders in Europe is 1:30. But with the ones that the TopEU broker provides you know you are getting into trouble.

Especially after realizing that you don’t have negative balance protection. Which can get you into debt. Even though it’s fictive debt, you don’t know that before you get scammed. To avoid getting into such situations expand your knowledge by checking our BizzTrade, Bullexo, and RB Bitdeal reviews.

TopEU Traders Reviews – Sharing Experiences

Another shady thing about this broker is TopEU reviews. Don’t you think that the company existing for more than 10 years should have more than 4?

Yes, absolutely. Thus, even those 4 are more than enough to determine what they do. It’s just a matter of time before they will pay for it to disappear. Check it out.

How Does the TopEU Platform Reach Clients and Who Are They?

Most of the time brokers promote their services through various marketing campaigns. But it’s not rare that they will lure new victims through social media.

But the most important thing to remember is not to pay any withdrawal fees if you hear about it. Because all the necessary fees should be taken from the account balance. Not your pocket again. That’s why traders fall into their traps. In general, that’s how are they mainly scamming traders from:

  • Poland          27,4%
  • Germany      12,5%
  • Czechia        8.9%
  • UK                5.6%
  • In other countries 36.9%

If you are coming from any of these countries let us know. Getting a chargeback is never closer to finalization.

Deposits and Withdrawal Methods

On the positive side, the broker only offers 2 deposit options. Those are:

  • Debit and Credit cards
  • Bank/Wire transfers

This is positive for one simple reason. If you are depositing via card you can get a chargeback if anything goes wrong. Most likely it will. The conclusion comes from their malicious withdrawal policy. Firstly, they have high withdrawal fees. But also fees that prevent will cost you a fortune. They charge you a 10% fee if you are requesting a withdrawal before making a turnover of 200!

For a $2.000 deposit, that would be $400K. If you reach by some magic $350K and you want to withdraw it,10% of that comes up to $35.000. Whether you pay the fee or not, you won’t see your $350K. So, don’t fall for those tricks. TopEU crypto transfers might be another trick used against you. Because those are anonymous and irreversible.

TopEU Bonuses and Promotions

Another key point where you can see they are violating regulations is bonuses and promotions. Firstly, these bonuses are banned all across Europe. Mainly because of the conditions that come along with it.

With this broker, you can get up to a 15% bonus. But to get a withdrawal you must reach trading volume 25 times higher than your deposit and bonus combined. And they will do everything they can to provide you with a bonus. Whether it’s a first-time deposit or referring a friend program.

Reasons To Avoid TopEU Broker

The first thing on the list is missing the regulation and anonymity of this broker. Secondly, the TopEU app is not something to brag about. Once you pass the TopEU login page, you will see just a plain web trader with limited functionalities.

Lastly, but most importantly, the company has all the tools to prevent withdrawals. From malicious withdrawal policy, bonus policy, and non-existent fees.

Our Safe Trading experts’ opinion of TopEU broker

Based on everything presented by TopEU company you can see that this is not a safe environment. Much-needed protection is missing and you should find a trusted and licensed broker.

Whether you need a consultation with the broker or assistance with a refund, you can get it. But have in mind that the first consultation is free of charge. Whatever bothers you, you can solve it. If you’re interested to learn more about regulated brokers, contact us for help!

FAQ Section

Is TopEU Trustworthy?

No. Without trusted regulations, the company doesn’t have any credibility to provide FX and CFD trading services.

How To Start Trading Safely?

Transparent and safe trading was never closer to you. Just have to pick the right broker. If you need advice on choosing a safe and reliable broker, contact us today!

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