Beware! Topinvest100 is an offshore broker! Your investment may be at risk.
RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
Topinvest100 says to have a global reputation for offering top trading services with various instruments, including forex pairs and CFDs on commodities, indices, stocks, precious metals and crypto coins, with leverage as high as 1:400 and the classic MetaTrader4 platform.
You may see this as a legit offer, but it is not. The problem is that Topinvest100 is yet another unregulated broker, which basically means that they have no credibility at all. If you are still in doubt whether to risk your funds with them do read the following lines.
Topinvest100 regulation & safety of funds
Topinvest100 is an offshore broker with no legit forex license, as is required in all major markets like the European Union, the UK, the U.S.. Canada, Australia or Japan.
The fact that Topinvest100 is not regulated means that the broker is not supervised and does not have to abide by any rules. On top of that, bear in mind that it is extremely complicated to bring any legal action against an offshore broker, especially an offshore broker based in the Marshall Islands like Topinvest10. The company behind the broker – AAA Global Ltd is virtually anonymous as are basically all companies registered there.
According to the local regulations you do not need a person to represent a company, but merely another company, also anonymous and with an offshore registration. We do not want to go into details, but the bottom line is that it is virtually impossible to sue an offshore shell company like AAA Global Ltd.
So be sure to deal only with legit and regulated brokers like those, licensed by the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC) or the Australian Securities and Investments Commission (ASIC) – the three regulators that dominate the forex industry.
Topinvest100 deposit/withdrawal methods and fees
Topinvest100 displays the logos of VISA and MasterCard on its website, but we were not able to verify that the broker really accepts those cards. In any case, our general advise when dealing with online brokers is to avoid any payments with crypto coins like bitcoins and ethereum.
All crypto payments are irreversible, which basically means that if you have been scammed, you will not be able to get your money back. With credit cards like VISA and MasterCard and some major e-wallets like Skrill, PayPal, or Neteller, on the other hand, in case you realize you have been scammed, you can always file for a charge back.
And be aware of the trading bonuses. Although attractive at first sight the practice of offering trading bonuses is highly controversial and has long been banned on many regulated markets like the EU and the UK. The problem is the minimum trade volume requirement, all trading bonuses are always linked to. And this is the perfect excuse for canceling your withdraw requests. As you can see on the screenshot below Topinvest100 will not allow any withdraws until you have met their minimum trade volume requirement.
What is more, Topinvest100 reserve the right to change their bonus policy whenever they like, which also explains why you may never be able to reach the above mentioned minimum trade volume requirement. See fr yourself:
Besides, no legit broker will ever impose a minimum trade volume requirement or restrict your right to withdraw your personal funds in any way.
How does the scam work?
If you have ever wondered, why so many people get scammed, just bear in mind that scammers run well oiled nets of call centers and robo scam websites like Crypto Engine and Crypto Master Bot which prove to be very efficient when it comes to persuading new customers to part with their funds. If you happen to stumble across one of the robo scam websites we mentioned above, you may be tempted by some very lucrative offers of fast and easy cash, with a tiny initial investment and no risk at all.
And if you get interested and leave your e-mail and phone, instantly you will be transferred to the website of a unregulated, broker like Topinvest100 and will be offered an account with a minimum deposit requirement of about 250 USD, which does not seem much, but that is how a scam usually starts.
Latter you will start receiving daily calls by your so called account managers, who under various pretexts will be trying to convince you to deposit more – let say 10 000 USD or so, because that is how, you will be told, you will start making real money. And then, one sunny day when you attempt to withdraw some cash you will realize you can not, because you have not met your minimum trade volume requirement, probably linked to your welcome bonus. Of course the story might be different, but the end will always be the same – you will not see any money back.
What to do if scammed?
You still may be lucky if you have paid with a major card like VISA or MasterCard, or an e-wallet like Pay Pal or Skrill. In this case you will be able to file for a charge back with your bank or your payment provider respectively, and you have a decent chance to get your deposit back. As we noted earlier we do recommend that you stick with more conventional payment methods like VISA or MasterCard amd avoid crypto payments.
And take a note as well that in some cases scammers might even attempt to steal money right from your credit card or bank account. That may happen if unwittingly you have disclosed your personal banking details like credit card numbers, online banking passwords or security codes, or if you have agreed to install a remote desktop application like Team Viewer or Any Desk. If that has happened immediately cancel your credit cards, delete the application and change your passwords.
Finally, we do not recommend you to seek the services of the so called recovery agencies, as they will not be able to help you in any way apart from some assistance with your charge back request. You can file for a charge back by yourself though, and save some fees that the recovery agency will surely collect upfront.