Topeu Review – 5 things you should know about topeu.com

Beware! Topeu is an offshore broker! Your investment may be at risk.

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Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.

Topeu is not a good broker to trade with – that much becomes obvious even by looking at their incomprehensive, bad-looking website. The broker provides no information about itself, does not seem to be regulated, and only offers vague information about vital trading conditions. All in all, this is not a good broker to trade with – avoid them at all costs.

Topeu Regulation and safety of funds

Topeu did not mention where it is based and has not even offered actually coherent contact information – the only way to reach this broker is via e-mail. They have not mentioned being regulated by any financial regulator – which means that they are probably not regulated at all. Each and every regulated broker would make sure to mention everything about their licenses – after all, that is the best way to make sure that a broker is safe to work with. The fact that this is such an anonymous company probably means that they are in no way reliable.

Our suggestion would be to turn to a strictly regulated broker – those licensed in the UK, the EU, and Australia are your best choice. Such brokers are everything but anonymous – quite the contrary, they are supposed to report to authorities on a regular basis. Another way to ensure transparency is the keeping of client money in segregated bank accounts – this ensures that the broker would not be able to use your money for their own purposes. Brokers have to prove their financial stability by maintaining a capital of at least €730 000 in the UK and the EU, and A$1 million in Australia. They also have to provide negative balance protection to retail clients – this prevents you from suffering losses bigger than the money you have in your account. EU and UK brokers also participate in compensation funds – in the event of a licensed broker becoming insolvent, each of their clients could receive a compensation of up to €20 000 in the EU and £85 000 in the UK.

Topeu Trading Software

Topeu offered access to a quite average web-based trading platform:

Such software offers more or less basic functionality and can definitely not be compared to leading platforms like MetaTrader 4, MetaTrader 5, and cTrader.

If you want to trade forex, CFDs, and many other assets on a legitimate platform, give well-known, established platforms MetaTrader 4 and MetaTrader  5 a chance – this is surely the best the industry can offer right now. Both versions of this advanced software offer a full charting package on top of useful tools like Expert Advisors, VPSs, Strategy Testers, customizable signals, a market for add-ons, and countless other possibilities. Many legitimate brokers offer either MT4, or MT5 – or both – turning to one of them would be a much better decision then wasting time on something that could barely be called a platform.

Topeu Trading instruments

Topeu offered access to a decent range of instruments across all important markets – forex, commodities, metals, stocks, indices, and cryptocurrency. However, depositing with scammers just on account of the many instruments they offer is not worth it – many legitimate brokers offer access to all of these instruments.

Topeu Spreads and cost of trading

The spreads we got with Topeu were much better than average – as low as 0.3 pips on benchmark pairs such as EURUSD and GBPUSD. However, the broker has not mentioned anything about additional commissions – if such exist, they might ruin your chances of actually turning a decent profit.

Many great brokers offer competitive spreads of around 1 pip – check out their offers instead of wasting time on these scammers.

Topeu Maximum leverage

Topeu offered quite high leverage on all of its trading instruments – as high as 1:200 on forex majors. This means that the broker could not be regulated in a number of stricter jurisdictions. Authorities in the UK, the EU, and Australia, for example, ban brokers from offering leverage higher than 1:30 on forex majors, and for a good reason. Trading with higher leverage could potentially result in much bigger losses because it enables you to make bigger losses. The more inexperienced you are, and the more volatile the market, the higher the risk.

Always stick with rates you are sure you can handle – otherwise you risk losing a lot of money.

Topeu Deposit and withdrawal methods

Topeu claims that it accepts payments made via bank wire transfer, via credit/debit card, and potentially via the electronic payment solution ePayments. However, we were not in fact given the possibility to deposit – when we tried to do so, we were informed that we would be contacted by an account manager at a later point. As a result, we cannot be completely sure what sort of payment solutions this broker actually accepts.

Topeu Minimum deposit

Topeu did not mention what minimum deposit it asks for – it just stated that the minimum deposit for the most basic kind of account is 20%, whatever that might mean.

Keep in mind that forex trading has become a lot more affordable in recent years – opening an account for as little as $10 is completely possible.

Topeu Withdrawal requirements

Topeu asks for some quite huge withdrawal fees – but that is hardly surprising, many scam brokers have insane withdrawal requirements. You would have to pay $50 for wire transfer withdrawals, $25 plus a $10 processing fee for credit/debit card withdrawals, and $25 for ePayments. This is a bit too much – even those brokers that do not cover withdrawal fees completely usually only ask for a few dollars.

Moreover, Topeu offers bonuses – but is quick to classify those bonuses and all profits generated on account of those bonuses as non-deposited funds. Those funds cannot be withdrawn before you have reached an enormous turnover – 25 times the deposit plus the bonus. Be careful – at some point, such turnovers might prevent you from withdrawing anything from your account, including your own deposits. With scam brokers, you simply never know what shady new clauses might turn up in their Terms and Conditions.