Thinking of getting into business with Top Primes? Here is what you must know about this broker. Carefully read this review to find out if topprimes.com is the trading platform you will want to trade with.
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About Top Primes Broker
Top Primes is an offshore brokerage company with a lot of promises for traders. The broker presents an address showing it operates from Saint Vincent and the Grenadines—
Also, the broker claims to offer 24/5 Customer Support, no commission, trade size (from from 0,01 up to 50 lots), 5% stop out level, and personal account manager.
There are different account types Top Primes offers. See below.
In spite the trading instruments Top Primes claims to offer, traders must know they are dealing with an unknown broker whose regulation claim is false.
topprimes.com: Reasons to Avoid This Broker
Firstly, topprimes.com is a platform with no financial authority overseeing its financial services. The regulation claim is not legit because SVG is known for not monitoring or regulating forex brokers which gives room for scam brokers.
Secondly, we noticed topprimes.com has no demo account for traders. Because traders can’t test Top Primes on a free account, we can’t know its viability in the forex market.
More so, this broker does not offer money back guarantee which means trading on such platform is clearly a risk.
These are cons for forex traders to avoid losing money with this broker.
Withdrawal and Deposit
Withdrawal process
Under the withdrawal policy, Top Primes provides us with the following information. See below. The minimum withdrawal amount is $50 by credit card.
Minimum Deposit
Top Primes minimum deposit is said to be $250.
As for the payment methods, we can make payment via Credit/ Debit card, Bank Wire Transfer. However, you should not consider making any payment with this broker because it is a risk. So beware!
Top Primes Platform
Top Primes offers web based trading software and not MT4 or MT5 (Industry standard trading platforms) which gives us more reason not to take this broker serious.
As for the leverage, it can get up to 1: 400. Nevertheless, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
Top Primes Licensing and Regulation
It is not far from believing that this broker is not a licensed brokerage firm. It is not under any financial regulation that means your money is at risk. Its license and regulation claims are truly a red flag and must be avoided.
Trade with TOP RATED BROKERS Instead
Accounts
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Licensed in UK(FCA), Dubai(DFSA), St Vincent and the Grenadines, Cyprus(Cysec) and Cayman Islands
Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
1:500
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Licensed in Australia(ASIC) and Cyprus(Cysec)
Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
1:500
Conclusion: Is topprimes.com a Reliable Broker?
topprimes.com does not seem like a reliable broker for traders even though it promises offers that look good to be true.
More so, the broker is unregulated which means it is not authorized to operate in any regulated country and you should definitely not put any money into it.
Because we have taken it as a duty to review forex brokers and also share reasons, we will not recommend this broker for trading.
Kindly share your comment about this broker in the comment section.
