Beware! Top-Targets.com 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.
We cannot say that we were not impresses with the website of Top-Targets.com, and for a short moment we actually believed that this broker would be a breather, a legit entity, finally, to pass us by. And yet, once we logged in we found out that the broker accepts only crypto payments, and then we discovered its almost anonymous legal side, and then we knew for a fact where this would be going. And that’s that; we buckled in, and started writing again a scammer broker review.
An easy registration entails an easy loss of money. Hear us out; the easier the broker makes it for one to open an account, the higher the chances of an investment by all! So it’s only logical that Top-Targets.com has made it so easy.
The company turned out to be a crypto-only broker, which it did not seem by the looks of the website; the web trader offers only crypto-based products and nothing more. That’s the reason why the leverage is capped at 1:5, a common value for cryptocurrency based brokers.
TOP-TARGETS.COM REGULATION AND SAFETY OF FUNDS
Apart from a mention in the legal docs that the broker abides by the laws of Estonia, there is nothing else on the website. And what’s more is that this claim is completely false and useless. First of all, in order for a broker to be registered in Estonia the firm must be regulated by the Estonian Financial Supervision Authority; Top-Targets.com isn’t for there is no proof of it. So, the lawful claim is completely false.
There is no further information. In essence, we come to the only logical conclusion that Top-Targets.com is anonymous and completely unregulated. Matters are made worse by the anonymity that enables to broker to steal as much as it wants while the user just sits there. Moreover, it is also harder for authorities to trace the firm down, which is precisely why the likes of Top-Targets.com prefer anonymity.
The most crucial thing is not to invest in Top-Targets.com!
Always aim to invest in regulated brokers, and not illicit ones. It may not be easy to distinguish them from one another, but there is a way to make the process much easier. The crucial point is to check the legitimacy of the broker’s regulatory or registration claim. If nothing’s there, you close the site and move on to any European, UK, US, or Australian broker, or any other with a legal status. Being regulated is not just encompassed in a simple permission to offer FX trading service. It comes with a ton of responsibilities, most of which are concerned with the way the broker treats its users. Misconduct on the side of the broker either results in financial penalties or in total closures of the brokerage website in question.
TOP-TARGETS.COM TRADING SOFTWARE
In an unexpected turn of events, we came across a decent web trader, that seemed to us favorable enough for us to recommend it to rookie traders, but not to be used with this broker!
There are enough features here to educate the novice types: social trading, chart customization, trading signals, time frames, and other little but important stepping stones.
TOP-TARGETS.COM DEPOSIT/WITHDRAW METHODS AND FEES
In the user area we find out that only crypto deposits are available, through a total of 9 separate crypto wallet. However, all these wallets are nothing more than separate addresses which the user is encouraged to copy and send money to, with no guarantee that the funds will ever be reflected in the client’s account. We assume that there is no minimum deposit
There is no information useful to us in the withdrawal area.
We find fees concerned with withdrawals in the terms and conditions. Withdrawal fees are as follow (they depend on the amount the user wishes to withdrawal): if the amount is $250 or more the the withdrawal fee is $25. From $500 onwards, it’s $50. From $1000 to the next sum the withdrawal charge is $75. The last one starts at $2000, and it’s $150. And then there is the one stating that if the withdrawal is below $100 the fee will be $20.
The payment methods for withdrawing are the same ones as the depositing ones, or so we are told on the website. But considering that brokers rarely pay back and that the depositing methods are crypto-based, there is very little hope that users will ever be getting their money back.
Top-Targets.com is a risk to all and a scam. Do not invest here!
HOW DOES THE SCAM WORK
Scammers use a couple of tricks that make up a big scheme that has not changed since its inception, meaning that it’s fairly easy to avoid it.
The fraud starts when the broker contacts the user, who has unknowingly provided his or her contact details in the past through some seemingly innocent channel.
Communicating with the broker might seem like a pleasant experience as the other side sweettalks its way to your wallet. The reason why most frauds target non-trading audiences is because they are more susceptible to this kind of verbal manipulation. Otherwise, users might start receiving emails with unbelievable good investment deals, none of which are actually lucrative.
The tipping point is the first deposit that scammers are so eager to sell. After this first investment, the user has fallen into the clutches of the fraudster. Either he will be pushed to invest more by false promises of further “profit”, or the client will want to get back his initial deposit, a request to which he is told that further investments are needed.
On whichever side of the coin you the user is, she will most likely never be able to withdrawal. All withdrawal requests will be denied for a plethora of equally ludicrous reasons.
WHAT TO DO IF SCAMMED
Once scammed, your safest bet is a chargeback. Contact your credit or debit card company and move on from there. It’s good to know that MasterCard and VISA have a chargeback period of 540 days.
Bank investments are more difficult to reimburse but not impossible. Most banks have some sort of strategy for dealing with lost capital, so the client’s best bet is to contact her corresponding bank and proceed from there according to the bank’s plan of action. We also recommend that users change their bank account username and password if defrauded.
As for crypto investments, it is unfortunate to say but there is no real way of getting lost money back through these channels. All crypto investments are untraceable, and there is no telling where the investor’s funds will end up.
Don’t trust recovery agents or agencies. These are either independent scammer looking to charge users “service fees”, or extensions of illicit broker schemes.