TopForex Review 2023

TopForex review
TopForex Fees Explained

• TopForex withdrawal fees varies on payment method
• TopForex does charge a fee for inactive accounts.
• TopForex does charge deposit fees.

TopForex Costs To Check

Modern brokers like TopForex provide advanced online trading platforms, mobile apps, financial analysis tools and educational resources. These services require significant investment, and in turn, TopForex may charge clients various fees for trading activities. Be mindful of these charges, impacting your overall TopForex trading profitability.

How TopForex Fees Compare Against Other Brokers

TopForex Minimum Deposit

TopForex requires a minimum deposit of 100 GBP/USD/EUR when opening an TopForex trading account.

A minimum deposit is the minimum amount of money required by TopForex to open a new online brokerage account with them.

Don't be scared off by brokers like TopForex charging a minimum deposit to open a trading account. Brokers charging higher minimum deposits may offer additional premium services on their platforms that are not free on other platforms.

In the trading world, brokers like TopForex, have different minimum deposit requirements based on the target audience they are trying to attract. Brokers with lower minimum deposit requirements typically cater to a more mainstream audience who don't require advanced research tools or features. On the other hand, brokers that require a larger minimum deposit often provide a greater range of trading features, more in-depth technical analysis, research tools, and better risk management features.

Some brokers may waive the minimum deposit requirement to attract new customers but may compensate for it by charging higher transaction commissions and trading fees. As the online trading market becomes more competitive, brokers have reduced their minimum deposit requirements to attract new clients.

However, it's important to note that depending on your trading account type, some brokers may require a higher minimum deposit of up to 10,000 GBP/USD. Therefore, it's essential to research and compares different brokers to determine which best suits your trading needs and budget.

TopForex Withdrawal Fees

The fees for withdrawing funds from your TopForex account will differ depending on your chosen payment method. Reviewing the fees associated with each payment method before making your TopForex withdrawal request is important.

TopForex Withdrawal rules may vary across different brokers when it comes to transferring funds from your TopForex or other broker trading account. Each brokerage firm has its specific withdrawal methods. The payment provider associated with TopForex may have different transfer processing fees and processing times, affecting how long it takes to receive your funds.

In addition, currency conversion fees may apply if the TopForex withdrawal and receiving currencies differ, adding to the overall transaction costs. The currency conversion fee depends on your base currency, receiving currency, and the 3rd party payment provider that is separate from TopForex. Researching and comparing TopForex withdrawal policies and fees across different brokers is essential before choosing one, especially if you are withdrawing TopForex funds frequently or dealing with large sums of money. Awareness of these TopForex fees and policies can help you plan and budget accordingly and avoid any unpleasant surprises when transferring your TopForex funds.

For example, TopForex allows you to withdraw your funds to Credit cards, Skrill.

TopForex Inactivity Fees

TopForex does charge a fee for inactive accounts.

When a trading account goes unused for a certain period, brokerage clients may be charged an account inactivity fee. To avoid such fees, clients may need to fulfill specific trading activity requirements outlined by TopForex terms and conditions. It's important to note that inactivity fees are not unique to online trading accounts, as many financial service companies may also charge them.

Make sure you're fully aware of all TopForex fees and services. It's recommended that you check the TopForex website before signing up. If you decide to close your TopForex account, it's important to do so with the TopForex broker customer support and obtain confirmation that no remaining TopForex fees are due.

Brokers like TopForex must disclose any inactivity fees as part of their regulations. The type of account and broker you sign up for, will determine whether or not you can be charged an inactivity fee under certain circumstances.

Certain brokers may levy inactivity fees to recoup the expenses associated with sustaining your account on their trading platforms when there is a shortage of commission fees earned from your trading activities.

TopForex Deposit Fees

TopForex do charge deposit fees.

Reviewing deposit fees before initiating a transaction is imperative, as certain brokers might impose a charge for depositing funds from your payment method to your trading account. The payment method employed for funding your account might also incur a fee.

Depositing funds into your trading account may incur a fee, which could vary depending on the fiat currency used. For instance, depositing funds from a credit card can attract high fees. Additionally, not all brokers accept credit card payments for account funding. It's crucial to review the funding options and associated fees the broker provides before depositing any funds.

TopForex Commission Fees

TopForex does charge commission on CFD instruments.

Brokerage firms like TopForex may charge commission fees as compensation for executing trades on behalf of traders on their trading platforms. Commission fees can vary depending on the type of financial asset being traded and the TopForex trading account level held by the trader.

TopForex may charge commission fees for fulfilling, modifying, or canceling an order on behalf of its clients. However, if a market order is not fulfilled, no commission fee is usually charged. Reviewing TopForex terms and conditions to understand the commission fees and any other charges that may apply is essential.

TopForex review
Trading on TopForex web platforms and other applications

TopForex offer the popular MT4 forex trading platform. To see a list of the top MT4 brokers, see our comparison of MT4 brokers.

TopForex also offer mobile apps for Android and iOS trading apps help you stay on top of your trades and execute them on the go.

See TopForex's platforms

Is the TopForex Trading Platform Secure?

You should take the security of your personal information seriously and check SSL encryption is enabled on the TopForex trading platform to protect you on PC and mobile TopForex platforms. To further enhance security, we encourage traders to always look for the lock sign on their browser when using TopForex web trading platforms.

TopForex Trading Platform Options

After logging into your TopForex account, you'll find a range of trading platform options available below.

• MetaTrader 4 (MT4)

Please be aware that TopForex does not currently support the MetaTrader 5 (MT5) trading platform. However, if you're looking for a broker that does offer MT5, you can check out our list of recommended brokers available through the provided link.

TopForex does not support the cTrader trading platform. However, if you're looking for a broker that does offer cTrader, you can explore other options available through the provided link.

Let's explore each of these trading platforms in detail and what options TopForex gives you.

TopForex review
TopForex MetaTrader 4 (MT4)

TopForex MetaTrader 4 (MT4) In Detail

MetaTrader 4, commonly known as MT4, has been a well-known and widely used trading platform in the financial markets since its inception in 2005. MT4 on TopForex offers traders comprehensive features and tools to enhance their trading performance. The TopForex MT4 user-friendly interface and highly customizable trading environment allow traders to tailor the TopForex platform to their needs. One of the standout features of MT4 is its charting functionality, which allows TopForex traders to analyze price movements and make informed trading decisions. Additionally, advanced order management tools give TopForex traders greater control over their trades, allowing them to manage risk better and optimize their trading strategies on the MT4 TopForex trading platform.

MetaTrader 4 (MT4) was created mainly for Forex trading, but it can also facilitate the trading of other financial instruments via CFDs and Spread Betting. You cannot trade real assets like stocks, shares, commodities, indices and ETF's on the TopForex MetaTrader 4 (MT4) trading platform. MT4 is a platform available with TopForex, that facilitates trading financial instruments in the form of CFD contracts or Spread bets. The TopForex MT4 platform does not provide access to physical assets such as stocks, commodities, or ETFs for trading. TopForex allows trading CFDs and Spread bets, which do not involve owning underlying assets but speculating on price movements, using high risk leverage. To gain more information about the MT4 Platform, click here.

You can start using the MetaTrader 4 platform with TopForex in multiple formats including through an online web platform, Through a downloadable application for Windows PCs and Apple Macintosh computers. TopForex MetaTrader 4 is compatible with the latest macOS. TopForex allows traders to trade on mobile devices through Android and iOS devices like the iPhone.

Metatrader 4 Webtrader on TopForex

MetaTrader 4 (MT4) is a widely used trading platform in the world, offering a range of advanced tools and features. Recently, MT4 has been made available as a web-based application through a web browser, enabling traders to access the platform from anywhere.

The web version of MT4 provides the same user-friendly interface and customizable trading environment as the desktop version. With MT4 web, traders can access advanced charting tools, online trading indicators, and a Dealing Desk-free trading environment.

Additionally, traders can enjoy Raw Pricing without any intervention from brokers. Overall, MT4 web is a convenient and efficient way for traders to access the platform and manage their trades.

Trade TopForex MetaTrader 4 on iOS Devices

You can download the TopForex app or trade with TopForex through the MetaTrader 4 application on the Apple app store.

Download the Metaquotes MetaTrader 4 Program free of charge from Apple's App Store. TopForex customers have instant access to the financial market and can completely manage a Portfolio on the go.

Trade TopForex MetaTrader 4 on Android Devices

Millions of people worldwide use Android mobile devices and tablets, and TopForex offers its clients access to the MetaTrader 4 platform on these devices. With the TopForex MetaTrader 4 Android application, traders can monitor the financial markets and execute trades directly from their Android-based smartphones and tablets. This app provides access to a range of advanced trading features, allowing TopForex traders to stay on top of their trades and react quickly to changes in the market. With the TopForex MetaTrader 4 Android app, traders can securely manage their trades on the go, making it a convenient and efficient way to stay connected to the market.

Trade TopForex MetaTrader 4 Trading Central

Trading Centrals Alpha Generation Indicators available on TopForex are a powerful bundle of three major indicators designed to help traders make informed decisions. TopForex MT4 Trading Central indicators include:

• Analyst Perspectives - A valuable resource for traders seeking leadership insights and key levels.
• Adaptive Candlesticks - This indicator is capable of identifying chart patterns that highlight significant changes in demand and supply.
• Adaptive Divergence Convergence (ADC) - Similar to MACD, but with greater utility at shorter lengths, this indicator provides more timely signals.

Trading Centrals Alpha Generation Indicators can help TopForex traders better understand market trends and patterns, enabling them to make more informed trading decisions. These indicators can provide valuable insights into market movements, allowing TopForex traders to potentially stay one step ahead.

TopForex MetaTrader 4 Advanced Trading Tools

The TopForex MetaTrader 4 trading platform has advanced tools that enhance the overall trading experience and give TopForex traders detailed market tools. With feature-rich trade execution and management programs, sophisticated notification alarms, messaging facilities, innovative market data, and more, TopForex provides traders with everything they need to succeed. The TopForex MT4 platform also includes a range of technical analysis tools, with 30 indicators built in, 2000 plus free indicators, and the availability of paid indicators, allowing TopForex traders to analyze the market at any level of complexity.

Trade TopForex MetaTrader 4 MultiTerminal

MetaTrader 4 MultiTerminal offers traders an intuitive and user-friendly dashboard to manage and monitor multiple trading accounts. This powerful tool allows traders to oversee over 128 accounts simultaneously, enabling them to place market and pending orders, view real-time market prices, and track all accounts and equity in real-time.

It's important to note that MultiTerminal only supports trading accounts on the same MetaTrader server and doesn't allow automated trading scripts such as Expert Advisors.

This tool is ideal for traders who manage several accounts simultaneously and require a more efficient and effective way to track and execute trades. You can have up to 10 demo accounts on MetaTrader 4 MultiTerminal.

TopForex MetaTrader 4 AutoChartist

Autochartist on the TopForex platform is a powerful tool designed to help traders find trading opportunities quickly and easily.

Available for TopForex MetaTrader 4 Autochartist can scan the market using an expert advisor script.

With Autochartist, TopForex traders can scan multiple markets and timeframes from a single graph, making it easy to keep track of all their preferred symbols without launching multiple graphs. Using Autochartist can save TopForex users time and makes the trading process more efficient.

The Autochartist interface is user-friendly and can be customized to suit individual trading preferences. TopForex traders can navigate the platform and find the information they need to make informed trading decisions.

TopForex Autochartist is a valuable tool for traders who want to stay ahead of the curve and identify trading opportunities quickly and easily. With its powerful features and easy-to-use interface, Autochartist is an essential tool for TopForex traders of all experience levels.

TopForex Trading benefits

• TopForex Low min deposit

TopForex Trading Accounts Offered

Below we give an overview of the account types that TopForex offer. Whatever you are looking to trade, the varying TopForex account types will be able to provide you with what you need.

• TopForex Demo account

Can I try TopForex?

TopForex provides a demo account that enables individuals to explore trading before investing their funds. By creating a TopForex practice account, users can gain experience and knowledge of how to trade effectively. Demo trading accounts like the TopForex demo account can help individuals to make informed decisions before investing their money.

Open a demo TopForex account to practice and trade.

Losses can exceed deposits

TopForex withdrawal and funding methods

It's essential to remember that the payment methods provided by TopForex vary based on the TopForex entity and the TopForex client's country of residence. To view the TopForex payment options available, you can log into your TopForex member's area.

TopForex offers various funding payment methods listed in your TopForex dashboard if available in your region. To learn more about the TopForex funding and withdrawal options available in your area, you can explore the TopForex website.

TopForex provides several payment methods for funding your TopForex account. You may utilize any of these deposit options if they are available in your region. TopForex ensures that users have multiple payment methods to choose from, making it more convenient for verified TopForex account holders to add funds to their accounts. However, it's important to note that the availability of payment methods may vary depending on the TopForex user's location. learn more about TopForex funding and withdrawal methods.

TopForex Payment Methods

Some TopForex payment methods are local and are available only to specific regions. TopForex account holders should check which payment methods are provided in your region.

• TopForex accepts Credit cards
• TopForex accepts Skrill

How can I start trading with TopForex?

To open a trading account with TopForex, individuals can sign up on the TopForex website. Upon completing the signup process, users will receive login details via email, which they can use to access their accounts.

The next step involves submitting identification documents for TopForex account validation and making a deposit. Once completed, TopForex users can download the trading platform of their choice.

It's important to note that TopForex requires users to provide essential documentation to verify their identity during onboarding and routine KYC identity checks. These checks are a standard practice that helps TopForex maintain a trustworthy financial environment for its 10,000 users. Detailed information on the TopForex trading platforms is available on their website.

Losses can exceed deposits

Performing trades with TopForex

When using TopForex, the minimum trade size is typically 0.01 Lot units of the base currency of the instrument being traded. However, this amount may vary based on the specific account a user has opened. The maximum trade requirements on eToro can vary depending on the specific trader and instrument being traded.

TopForex, as a market maker, may have more lenient entry requirements than ECN brokers, who typically benefit from higher trading volumes and may have larger capital and minimum trade requirements. Market makers usually offer a lower minimum deposit and smaller minimum trade requirements and do not charge commissions on trades. Market makers like TopForex can be useful for traders starting or with limited capital.

Like other brokers, TopForex margin requirements can differ depending on the traded instrument.

CFD Trading on TopForex

We will show you an example of the basics of using TopForex leverage.

CFD trading on TopForex allows traders to speculate on the price movements of various financial instruments against the broker TopForex, without actually owning real assets. With CFDs, TopForex traders can profit from upward and downward price movements by going long (buying) or short (selling) on an asset.

TopForex provides CFDs which are leveraged products. For this example, let's assume a ten times leverage. So, if you have a $10,000 position, you only need to tie up $1,000 or a tenth of the value in your account. With high-risk leverage, a small sum controls a much bigger financial position.

The effect of leverage on profits and losses magnifies them in both directions. In other words, TopForex leverage profits and losses are magnified when trading. For instance, using CFDs, you use the TopForex trading platform to buy/sell $10,000 worth of Apple Computer Inc. If the stock rises by 10% due to positive results, your position is now worth $11,000, representing a $1,000 or 10% increase in value. This CFD trade has a 100% increase in the funds initially committed.

On the other hand, if Apple Computer Inc falls by 10%, your position worth $10,000 is now worth only $9,000, representing a $1,000 decrease. Therefore, TopForex leverage magnifies both profits and losses in trading.

Trading CFD trades on the TopForex platform can provide more flexibility than traditional market trades, allowing access to CFD fractional shares, international markets, and short selling. They are commonly used for short to medium-term trades, such as intraday CFD trading, but are high-risk due to their separation from the financial markets.

Experienced TopForex traders can trade high risk CFD trades to hedge items in their portfolio.

Always be aware that CFDs are complex instruments with a high risk of losing money rapidly due to leverage. Losses can exceed deposits

Education Resources at TopForex

To trade effectively with TopForex, it's important to have a good understanding of the TopForex trading tools and the markets. Make sure you make full use of all education tools. Including educational tools with TopForex and externally.

TopForex . It's essential to take the time to learn about the financial markets and understand how they move before diving into trading with TopForex. Familiarizing yourself with the TopForex trading platform is crucial to use it effectively.

While learning, you can also use global trading times to practice making live buy or sell trades using TopForex. This hands-on experience can help you gain confidence and become more comfortable with trading.

Furthermore, learning how to mitigate and manage investment risk is crucial. Trading with TopForex involves developing a strategy considering risk management techniques such as stop-loss orders, diversification, and position sizing. By effectively managing risk, you can increase your chances of success in the markets.

Learning about the financial markets, trading platforms like TopForex, and risk management techniques can help you become a more confident and successful trader.

Take an analytical approach to trading with TopForex. Explore the TopForex platform and train yourself to think systematically and logically about the markets.

While it may be a new skill set for some, it is what the market requires for success. Developing your trading skills with TopForex, before live trading.

Customer Support at TopForex

As part of our TopForex review, we review customer service options, response times and problem resolution effectiveness on the TopForex trading platform. The TopForex trading platform supports multiple languages, which includes English, French, Italian, Hungarian, Greek, Slovak, Serbian, Dutch, Espanol, Romanian, Russian, Polish, Slovenian, Czech, Bulgarian, Arabic, Mandarin.

TopForex Available Support Types

TopForex have a double AA grade support rating because TopForex offer live chat and email support in multiple languages.

Livechat Support at TopForex

Our experience with the TopForex live chat was positive. We received a response within 30 seconds of sending a message through their app and website. Overall, great live chat support from TopForex.

We tested communicating with TopForex customer support in multiple languages and countries. TopForex made an effort to resolve the issues we had.

Email Support at TopForex

Our experience with TopForex email support was positive. We sent 25 emails at different times and received responses within an average of 2 hours. The fastest response was less than 15 minutes, while the slowest was 7 hours. Although response times may vary, we found their team to be helpful and knowledgeable in resolving our queries.

Phone Support at TopForex

Our experience with TopForex phone support was positive. The team answered the call in under 5 minutes and successfully resolved our queries over the phone. We appreciated their efforts in catering to multilingual support. Overall, a great phone support experience with TopForex.

See how TopForex Support Compares Against Other Brokers

What you will need to open an account with TopForex

As TopForex is regulated by Cyprus Securities and Exchange Commission (CySEC).

As a new client of TopForex, you will be required to pass a few basic compliance checks to ensure that you fully understand the risks involved in trading and are permitted to trade with TopForex in your region. During the TopForex account opening process, you will be asked to provide TopForex with certain documents, including a scanned copy of your passport, driving license or national ID, as well as a utility bill or bank statement from the past three months to verify your address.

When registering with TopForex have the following documents available.

• TopForex require a scanned colour copy of your passport, driver's license or national ID card.
• A recent utility bill or bank statement that confirms your residential address for TopForex compliance. This must be dated within the last six months.
• If you plan to fund your TopForex account using a credit or debit card, you will need to provide a scanned copy of the front and back of your card. You can mask any sensitive information like the CVV code on the TopForex platform.

It's worth noting that the expiration date of the proof of address document may differ for different entities under TopForex Brand. Additionally, you will need to answer some basic compliance questions to confirm your level of trading experience. This process usually takes around 5 minutes, and once you've passed compliance, you can start exploring TopForex's platform.

However, remember that you won't be able to make trades on TopForex until you have passed compliance, which may take several days, depending on your circumstances. It's essential to complete the TopForex KYC compliance process as soon as possible to avoid any delays in accessing the TopForex platform's features.

It is important to note that TopForex may request additional documents or information to verify your identity or comply with regulations. The account opening process usually takes a few minutes to complete, and you can start exploring the TopForex platform and features immediately. However, you must pass the verification process to start live trading with TopForex, which can take up to a few business days.

To start the process of opening an account with TopForex you can visit the TopForex trading platform here.
Losses can exceed deposits
You should consider whether you can afford to take the high risk of losing your money.

CFDs are leveraged products and can result in significant losses, excess of your invested capital. All trading involves risk. Only risk capital you're prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered investment advice. All information collected from https://www.topforex.com on September 21, 2023.

TopForex review written by Andrew Blumer and Mark Hansen