Beware! TopviewStake 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.
TopviewStake is as anonymous as they come – this broker provides zero information about itself, not even a phone number. They do not seem to be licensed and do not offer any sort of functional trading platform. Finally, the broker only accepts crypto payments – that are irreversible. All in all, investing with this broker is a recipe for disaster – avoid them at all costs.
TopviewStake Regulation and Safety of Funds
|Guaranteed Funds||Segregated Accounts||Negative balance protection|
|UK regulated brokers||£85 000||Yes||Yes|
|EU regulated brokers||€20 000||Yes||Yes|
|AU regulated brokers||No||Yes||Yes|
|US regulted brokers||Yes||Yes||No|
TopviewStake did not provide any specific information about itself. The broker did not offer contact information other than an e-mail and no address. This means we have no idea where this broker is based or potentially licensed. In fact, they are probably not licensed since legitimate brokers usually make sure to provide a license number and a ton of company information so you could make sure of the broker’s legitimacy.
Trading with unregulated, anonymous brokers is pretty much the worst thing you could do. Such brokers answer to nobody and did not have to meet any specific requirements in order to prove their financial stability or reliability. These shady companies exist with the only aim to rob you.
Our advise is to open an account with a broker regulated in a strict jurisdiction such as the UK, the EU or Australia. Such companies report to stern authorities and have to meet a ton of requirements to prove that they are a reliable investment solution.
TopviewStake Trading Software
|Analytical tools||Auto trading||Custom indicators||Mobile apps|
|MT4||30+ indicators||✅||✅||Android and iOS|
|MT5||50+ indicators||✅||✅||Android and iOS|
|cTrader||40+ indicators||✅||✅||Android and iOS|
TopviewStake promised access to both MetaTrader 4 and to MetaTrader 5 – two popular, leading trading platforms. This was not actually the case, however – we were only offered access to something that could barely be called a trading platform:
This was just a TradingView chart with a few additional buttons – hardly the advanced trading software the broker promised. Trading on such a platform would definitely not result in a great trading experience.
Check out some brokers that actually offer MT4 or MT5 instead of wasting your time.
TopviewStake Trading instruments
TopviewStake claimed that clients would be able to trade a variety of instruments including forex, commodities, stocks, options, bonds, crypto, etc. but that was not actually the case. When we opened an account, it turned out that crypto is the only available asset.
This is laughable considering that most legitimate brokers offer thousands of trading instruments.
TopviewStake Spreads and Cost of Trading
Since TopviewStake’s platform was barely functional, talking about spreads is quite pointless. Moreover, there are plenty of regulated brokers that offer amazing spreads – as low as 1 pip and sometimes even lower.
TopviewStake Maximum leverage
|TopviewStake broker||❌||❌||No information||❌||❌|
|UK regulated brokers||30:1||5:1||❌||10:1||10:1|
|EU regulated brokers||30:1||5:1||2:1||10:1||10:1|
|AU regulated brokers||30:1||5:1||2:1||10:1||10:1|
|US regulated brokers||50:1||❌||❌||❌||❌|
TopviewStake did not provide any information about the maximum leverage it offers. Keep in mind that such scam brokers often offer dangerously high leverage rates – ones that could potentially result in huge losses if not handled with caution. Leverage enables you to make bigger profits – but could potentially result in far bigger losses. That is why you should always be careful with your settings and only trade with leverage you are sure you can handle.
TopviewStake Deposit and withdrawal methods
|Deposit time||Withdrawal time||Fee|
|Crypto||24 hours||24 hours||Fee depends on crypto|
TopviewStake only accepts deposits in crypto which is a huge red flag. There is a reason why scammers prefer such payments – such transactions are anonymous and can only be traced to a wallet address but not to a person or organization. They are also irreversible by default – if you have transferred money in this manner you would not be able to get a chargeback. That is why you should only use this payment solution with brokers you are sure you can trust.
TopviewStake Minimum deposit
TopviewStake asks for a minimum deposit of just $100 – a price that is indeed very affordable. We would not, however, be too quick to open an account with a scam broker just on account on affordability. There are plenty of legitimate brokers that would open an account for even less.
TopviewStake Withdrawal requirements
TopviewStake did not mention having any specific withdrawal requirements – but you should still be careful because scam brokers often have such. Some scammers charge enormous withdrawal fees – as high as 20% sometimes. You might also encounter high minimum withdrawal requirements and impossible to reach trading volume thresholds that might make it impossible to withdraw your own funds.
Always read the Terms and Conditions carefully to avoid such shady conditions.
|Trading volume||Fee/Tax on withdrawal||Minimum withdrawal|
|TopviewStake / offshore brokers||No information||No information||No information|
|UK regulated brokers||No||No||No|
|EU regulated brokers||No||No||No|
|AU regulated brokers||No||No||No|
|US regulated brokers||No||No||No|