TradeOnTop Review – Numerous Reasons To Avoid This Broker

TradeOnTop is operating under the legal name Tradeontop Limited. This firm should be officially registered in the UK. At least according to the company headquarters address.

If that’s true, someone could sort this broker with the most reliable regulations. But if that’s the case, you’ll have to find out further in this TradeOnTop review.

Legal Information: Scam Broker Or Legit?

The easiest way to discover if any UK broker is legit is right in front of your nose. You just have to check the FCA register. Voila. Of course, the Trade On Top broker is not listed there. Neither is it listed in any other Tier 1 regulatory database, starting with CFTC, BaFin and ASIC.

Instead, the company was found on a warning list. Since they are mainly targeting Italians, it’s no wonder CONSOB was the first one to issue that warning. Therefore, all of the company’s promises become irrelevant.

What Other Traders Say About tradeontop.com Broker?

One of the leading scam signs is always reviews. Currently, you can’t leave any more reviews on Trustpilot regarding this firm. At least not for their last domain. But the ones visible there are more than enough. In fact, all reviews there are rated with 1 star. This tells you enough about the company’s activities.

But let’s see how long it will take for their tradeontop.net domain to be exposed. Hopefully, it will not be long. Actually, you could be the first one. Let us know about your experience with this firm.

What Software Can You Use With This Broker?

With quite a poor explanation of the trading software, there’s nothing spectacular to expect. It’s an all-in-one platform. Allegedly, most advanced one. At least according to the company.

But whenever you see a web-based platform and non-licensed broker, you better start running. These things are exactly the ones that will get you scammed.

Can You Trade On a Mobile?

This TradeOnTop review will show you the importance of a trusted mobile app. Even though the company claims to offer a platform that is accessible on mobile, that’s a trick. You will have to use your browser instead of a dedicated iOS or Android app. Which is certainly not the most convenient option. Even our CTOption review can prove you that.

What Trading Instruments Are Available?

While reading this TradeOnTop review, you will see that instrument availability is not the most important thing. Especially if the company is not licensed.

Primarily, they can manipulate all the market data. Therefore, it’s all fictive. Instead, you might opt for a Tier 1 licensed broker and avoid any irregularities. Anyway, the options are:

• Forex – USD/HKD, AUD/NZD, EUR/RUB
• Commodities – natural gas, crude oil, cotton
• Shares – Amazon, American Express, General Motors
• Crypto – BTC, ETH, BCH
• Indices – DAX 30, S&P 500, ASX 200
  

Account Types Without Any Transparency

This broker will shamelessly require traders to deposit even $100k. But on what grounds, nobody knows. None of their trading conditions reveal any benefits to the trader. So, you can expect a lot of fairy tales sold by their fictive market specialists. Anyway, the options are:

• Student – 250 EUR
• Standard – 5.000 EUR
• Investor – 10.000 EUR
• VIP – 50.000 EUR
• VIP Platinum – 100.000 EUR

Trading Fees, Commissions, Leverage And Spreads

Luckily, our Review helps you avoid this broker’s shady conditions. In fact, none of those are transparently presented to new customers. 

In combination with missing regulations and shady software, you can easily get into debt. To realize why transparency is important, make sure you read our Lenz Capital review.

Is The Bonus Available?

Of course, as with any other scam broker, bonus credit scams are inevitable. Of course, there’s a minimum trading volume a trader must reach to withdraw any funds. In this case, the bonus amount multiplied between 40-50. It depends on the broker’s choices.

However, they can revoke the bonus if they decide you were misusing it. But also all of your profits generated from it. Practically, it’s a nice trick to prevent you from withdrawing anything.

Withdrawal Methods And Policies

As for the withdrawal methods, those are not revealed. But very often, you’ll see brokers offering you crypto transfers because those are the fastest ones. Indeed, these are the fastest but the trickiest. Not to mention that in this way, they are hiding their identity.

Anyway, withdrawal processing time may take up to 5 business days. General withdrawals will cost you 3.5% of the amount. But if that amount is lower than $30, you’ll pay a $30 withdrawal fee. As for wire transfers, the commissions are placed on the beneficiary.

General Conclusion

Hopefully, this TradeOnTop review will help you understand why not to trust unregulated brokers. Even though they offer a phone or e-mail. Like in the case of this company.

Very often, those are VOIP services, and if they decide to vanish, you won’t reach them again. With this in mind, we suggest you be patient and choose your brokers wisely.

How Can I Make Money While Trading Online?

Generally, traders mostly think about generating profits. But nobody thinks about withdrawing those. Very often, you will see clients making insanely high sums of money. Yet, they can’t withdraw it. Mostly because the brokerages they work with are not reliable. So, that’s the first thing to watch for.

Secondly, you should find the right tools. Some brokerages are using shady software, and they can manipulate those. But even with trusted software, you can make wrong decisions. That’s why AI Analysis Tool can solve all your problems.

Once you start using it with a transparent and trusted broker, results could skyrocket. Forget about manipulative platforms and pressure from agents. Make your own educated decisions already today! Book your first free consultation with our specialists and find out all you need!

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