TopOption Review: When the Top Becomes the Bottom of Trading

TopOption Review

Let’s start this TopOption review by saying the company is no longer operative. While once regulated by a Tier 2 European regulator, CySEC, today it is an unwanted entity we don’t like to hear about.

Whether you traded with them or want to learn more, you’ve come to the right place. We’ll show you all.

Who Was TopOption and Was It Legitimate?

TopOption was a brand owned by Leadtrade Ltd, a company registered in February 2016 in Cyprus. Hence, they obtained the CySEC regulation at the same time. It should be noted that the same firm was running several brands, including LeadTradeLtd, OptionsClick, PrestigeOption, ExcellenceOption, and PlatiniumOption.

Yes, you guessed it right, they love their binary options. Now, back to 2023, binary options are banned all across the EU due to their risky, gambling-like nature. Hence, the brand voluntarily renounced its CIF authorization, but the regulator is still overseeing its activities in terms of refunds. A pretty lengthy process, isn’t it?

TopOption Reliable Broker Must Have
Legal name: Leadtrade Ltd Transparently displayed in the disclaimer or legal documents
Regulation: Unregulated – Voluntary Renounciation Within your legal jurisdiction – local regulator
Registered in: Cyprus  Your country or the country whose license applies in your legal jurisdiction 
Established: 2008 The older the domain – the higher the possibility the company is trustworthy
Website: topoption.com Domain should be from local or international zones, no .xyz etc.
Financial Authorities Warnings: MBS, CSA, FCNB, ASIC None
Contacts: [email protected] +357 22 418 218 Phone, email, social media, web form
If withdrawal is possible: Highly unlikely Yes
Fees: N/A Transparent fees – list of spread and commissions
If Active on Social Media: No Often present on social media
Investor Protection: No Compensation fund

Regulatory Warnings Against TopOption Scam

As you can tell from our list, TopOption scam was widely recognized. Several world-class authorities have issued an official ban against topoption.com, among which:

  • MBS of Manitoba,
  • FCNB of New Brunswick (republished by CSA),
  • Australian ASIC.

Some of the warnings predate the broker’s CySEC license, as it was operating illegally before. For all we know, the firm was in the play since 2008, trying and failing to legalize their scheme.

TopOption Broker Profile

TOPOPTION mobile app

Let’s review the general broker profile, including the TopOption trading platform, minimum deposit, and more. Then, we might be able to understand why this scammer attracted so many victims at its time.

Trading platforms: Proprietary app
Account types: Starter – $100Pro – $1,000VIP – $5,000
Financial Instruments On Offer:
  • Stocks – Microsoft, Google, Facebook
  • Commodities – gold, silver, natural gas
  • Indices – AU200, FTSE100, DAX30
  • Forex pairs – EUR/USD, GBP/AUD, NOK/SEK
Maximum leverage: N/A
Minimum Deposit: $100
Commissions/bonuses: Available
Mobile app: Yes
Desktop app: Yes
Autotrading: No
Demo account: Yes
Education or Extra tools: N/A

Is the Top Option Legit and Safe?

As you’ve had a chance to see so far, this binary options firm has operated illegally for quite some time. Then, they obtained European regulations but spread their business through Canada and Australia without appropriate licensing.

Finally, after many scam accusations, they shut down the domain and refused to repay old clients. This is far from legit or safe by any means.

Who Are TopOption Trading Scam Victims?

As per our research, TopOption has been operating mainly in the following countries:

  • United States,
  • India,
  • Italy,
  • France,
  • Spain.

Currently, clients cannot access the domain or their funds, meaning they need to seek alternative methods to get paid out. While CySEC claims to overlook the procedure, the time it takes for compensation tells us that something is suspicious there.

Deposit and Withdrawal Methods – Can I Still Ask for a Payout?

TOPOPTION deposit  options

Technically, you can still submit your claim with CySEC and try to prove that TopOption withdrawal has never reached your bank account. However, considering the amount of time that has passed, you will need expert help and lots of guidance through all the intricacies of a financial system.

While active, TopOption was pretty generous, with an 85% guaranteed payout and as high as 500% during the weekend. You should become suspicious as soon as you hear the word “guarantee” in trading.

Knowing everything we know, we’d advise you to choose reliable brokers offering legitimate trading services. Always seek a Forex or CFD brokerage with a license in your legal jurisdiction so you can later claim your money back if anything happens.

Is Making Money from Online Trading Possible?

Of course, you can make money while trading online. You need to be careful with the broker you choose and the type of trading and educate yourself enough before starting this journey.

In today’s day and age, there are many tools to make this process simpler and more accessible. From educational materials to artificial intelligence, there are many options. Now, you can sign up for our AI Fundevity, a bot utilizing all its power to scrap through historical data, charts, and prices and give you a future market estimate.

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What is TopOption?

TopOption is a binary options trading brokerage that has vanished from the market after being slammed by numerous regulatory warnings.

Can I Get My Money Back from TopOption?

You can try and submit a claim with your bank and a regulator in charge of TopOption, asking for compensation for your funds. We’re here for any questions about such claims.

How Can You Help Me Trade?

Our AI Fundevity bot is an amazing tool that can scrap through the market, do a large piece of fundamental analysis, and help you profit from the past market movements.

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