After conducting a thorough investigation, IFW Global determined that TopFX is similar to the majority of scammers. Nonetheless, the advertisement states the opposite. The company’s official website boasts undeniable global market dominance. The company encourages the client to open a real account and trade different financial assets. The trader can access indices, currencies, precious metals, stocks, energy resources, and digital coins. Promised interesting cooperation terms may entice a beginner, but is it worth joining the TopFX system? In today’s article, we will try to answer this question!
What characteristics distinguish the company?
The broker in question, like many scammers, has a simple website with only a few pages. The company discloses some trading terms to reassure the prospective client that the services are of high quality. TopFX’s online chat enables quick communication with technical support staff. At least that is what the official page says.
The brokerage firm has allegedly been operating on global markets since 2010. It currently offers over 600 investment assets to clients from various professional backgrounds. The financial intermediary provides a high liquidity level and works with large funds and investment firms as well as private investors. It appears that the organization is thriving. It is a good thing we did not stop here.
TopFX describes its trading infrastructure, which ensures high performance:
- The most reliable services. Thanks to an advanced data center, market participants can enjoy consistent and uninterrupted streams of price data with no downtime, skips, or spikes. In fact, developers create constant network disruptions and technical glitches in order to steal investors’ funds.
- One-of-a-kind technology. To ensure smooth and quick transactions, the company created a unique system that connects multiple liquidity providers. The broker guarantees full automation and provides the client with detailed transaction reporting. In reality, the financial intermediary only creates the appearance of a trading process.
- Reliable trading platforms. Signed-up users have several options for making transactions. They can use standard systems or those developed by the brokerage firm. However, the reality is quite different. Employees promise all of these supposedly unique features in order to extort money from players for as long as possible.
The company brags about its awards, but you should not believe empty promises. When deciding whether to collaborate, it is critical to read the comments on independent websites.
TopFX’s Trading Platform Features
Clients can use either a desktop terminal or a mobile version of cTrader. TopFX’s program includes the following features:
- Workspace configuration. You can create a personalized watch list that focuses on the most important instruments. However, the analytics will be inaccurate because the scammers provide outdated prices and irrelevant data.
- Price movement analysis. The application includes a variety of technical indicators, 26 periods, and five different chart types. All of this allows you to efficiently analyze the price chart and place the necessary orders. Again, all of this is a scam.
- Information support. Traders will always be aware of the latest news. They will receive timely signals, allowing them to execute profitable transactions on their trading account. The platform provides easy access to information about orders and closed trades. An economic calendar is available for trading news. However, these parodies of high-quality tools will not help you earn money.
- Risk management. The mobile application provides the client with the tools they need to efficiently allocate capital. A person can determine acceptable risks and limit losses. Stop orders allow for the timely adjustment of a loss or profit. However, because this is a simulation, there are no loss limits, which can help one protect themselves from fraudulent scammers.
- History. The trader receives detailed statistics on the transactions. The “History” tab displays an information summary that allows you to thoroughly evaluate the effectiveness of your strategy. It is put together in such a way that customers believe the data and continue to invest in the scam.
According to the founders, the brokerage firm offers advanced trading systems to its clients. The platform can be downloaded to any device, providing easy access to stock exchanges.
Money management in the TopFX system
The company offers its customers an easy way to manage their finances. It accepts several payment methods. Credit cards and other payment services can be used to make the initial deposit. Clients benefit from no commissions and easy money transfers between accounts. Users’ funds are always kept separate, so traders can expect a prompt withdrawal once they submit the appropriate request.
This is what the official website says. However, reviews reveal the opposite.
Comments about trading with the company
One trader had a bad experience working with TopFX. He activated the tariff and made a $2, 000 deposit. This person made repeated unsuccessful attempts to get their money back. The account was frozen. The market participant now has no idea how to recover invested funds. At first, the brokerage firm inspires confidence. It guarantees favorable cooperation conditions, but once the funds are deposited, the situation changes. This is a fraudulent project that misleads investors.
The financial intermediary postpones withdrawal for nearly a week, and the support service offers no solutions. Traders have concerns. It appears that the scammer has no intention of returning the money.
Is it possible to make a fortune with this brokerage firm?
In this article, we uncovered a common fraudulent scheme. IFW Global successfully identified it based on all criteria. The creators of TopFX used a template website to entice a few unsuspecting beginners. People were promised quick payouts, but the company is in no rush to make withdrawals. The fraudster has no documents and does not trade on international markets. In fact, all transactions are carried out on a fictitious platform, giving the impression of trading activity. TopFX is a typical SCAM, and traders should avoid registering in this system.
