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TopTradePro
Rating:
Binary Option Programs Award
Min. Deposit
$250
Min. Investment
-
Regulated Broker
No

TopTradePro Broker Review

  1. TopTradePro is an offshore, unregulated forex broker based on the Marshall Islands. By choosing to trade with TopTradePro, South African investors will have the ability to trade CFDs in forex, crypto, stocks, commodities and indices via the AVTIV8 platform.

    Is TopTradePro a trustworthy company to invest in though? Read our full review, which includes pros, cons, and our final conclusion on whether TopTradePro is a scam or a legitimate broker.

     

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    Account Types

    Like most forex brokers, South African traders will have a choice of several account types to trade with: six regular TopTradePro accounts, as well as an Islamic Account and a Joint Account.The minimum deposit to begin trading with TopTradePro is $250 – which is no surprise, as this is the typical minimum deposit amount required from most forex brokers.

    Tip: For a much lower minimum deposit, trade with IQ Option – the best regulated broker for South African traders with a minimum deposit of only $10!

    It is important to note here that when going through these account types, there was no mention of leverage, spreads or the minimum investment amount. In fact, TopTradePro appears to be especially vague on their website in general and offers traders no basic information or trading conditions. TopTradePro’s lack of transparency was an immediate red flag when reviewing this broker.

    You can see all the TopTradePro account types listed below.

    Demo Account

    To our disappointment, TopTradePro does not have a demo account available. Demo accounts are perfect for South African traders to practice and test out a broker’s platform before making their first deposit. Especially if you are a beginner, we strongly suggest you do your research and only start trading with a broker that offers a free demo account – like FX-advisor.com

    Basic Account ($250)

    • Minimum deposit: $250
    • 20% bonus
    • 24/5 support
    • Education center
    • Daily market review
    • PRO webinars
    • Price Alerts

    Bronze Account ($1,000)

    • Minimum deposit: $1,000
    • 30% bonus
    • 24/5 support
    • Education center
    • Daily market review
    • PRO webinars
    • Price Alerts
    • Intro session with trading expert

    Silver Account ($2,500)

    • Minimum deposit: $2,500
    • 40% bonus
    • 24/5 support
    • Education center
    • Daily market review
    • PRO webinars
    • Price Alerts
    • Intro session with trading expert

    Gold Account ($10,000)

    • Minimum deposit: $10,000
    • 60% bonus
    • 24/5 support
    • Education center
    • Daily market review
    • PRO webinars
    • Price Alerts
    • Intro session with trading expert
    • 3 – 4 fixed spreads on major currency pairs
    • CFDs
    • Strategic analyst – private session

    Platinum Account ($25,000)

    • Minimum deposit: $25,000
    • 80% bonus
    • 24/5 support
    • Education center
    • Daily market review
    • PRO webinars
    • Price Alerts
    • Intro session with trading expert
    • 3 – 4 fixed spreads on major currency pairs
    • CFDs
    • Strategic analyst – private session

    Black Account ($100,000) 

    • Minimum deposit: $100,000
    • 100% bonus
    • 24/5 support
    • Education center
    • Daily market review
    • PRO webinars
    • Price Alerts
    • Intro session with trading expert
    • 3 – 4 fixed spreads on major currency pairs
    • CFDs
    • Strategic analyst – private session
    • Exclusive position access

    Islamic Account

    If you are a trader of the Islamic faith, TopTradePro gives you the option to open a swap-free account that complies with Sharia law. To open an Islamic account, you will need to contact TopTradePro directly (contact info below).

    Joint Account

    As a final choice, South African traders can choose to open an account which will be shared with two or more investors, known as a Joint Account. To open a Joint Account, you will need to contact the broker directly (contact info can be found below).

     

    Trading Platform & Assets

    TopTradePro gives South African investors a wide range of CFDs to trade through their platform. These include:

    • Forex – major and minor currency pairs (ex. EUR/USD, USD/JPY etc.)
    • Crypto – Cryptocurrencies like Bitcoin, Ethereum, Litecoin and more
    • Stocks – Coca Cola, Starbucks, Apple and more
    • Commodities – coffee, sugar, wheat and more
    • Indices
    ACTIV8 trading platform

    ACTIV8 Platform

    South African clients will be trading all the above underlying assets through the ACTIV8 trading platform. The ACTIV8 platform is developed by Leverate (the creators of the Sirix trading platform). TopTradePro gives its traders a good choice of platform, which is user-friendly and simple enough for a beginner to understand. ACTIV8 has excellent charting, technical analysis indicators, as well as “strategies” and “master’s” sections. The platform is a web trader, which means no downloads or installations will be required. South African users can access the TopTradePro platform directly from their browsers or mobile devices.

    Unfortunately, TopTradePro does not have the MetaTrader 4 (MT4) platform available, even though they claim to on their official website. MT4 is considered one of the most popular trading platforms online and caters to more advanced traders.

    Customer Support

    For any questions, clarifications or issues you may have, you can contact the TopTradePro customer support team via email or by submitting an online contact form on their website. The broker also provides a phone number, but not a South African one. We were also disappointed by no option for live chat.

    However, the company does claim to have a 24/5 customer support team – which if true, is definitely convenient.

    Email: [email protected]
    Phone number: +442080894279

    TopTradePro is the brand name of Ideas in Motion LTD, who are based in the Marshall Islands under the registration address Trust Company Complex, Ajeltake Road, Ajeltake Islands, Majuro, Republic of the Marshall Islands MH 96960. The registration number provided is 92591.

    Deposit & Withdrawal Methods

    As mentioned above, TopTradePro has limited information on their website and information regarding deposit and withdrawal options were no different. The only information we could gather is for deposit methods, which are:

    • Credit / debit card (Visa, MasterCard)
    • Wire transfer
    • Skrill
    • V-Pay

    We assume that withdrawal methods are similar to the deposit methods. Usually, when requesting a withdrawal, you have to withdraw with the same method you initially deposited your funds and some type of identification is required.

    TopTradePro Pros & Cons

    As you have probably realized by now, our TopTradePro review uncovered many more disadvantages than in it advantages. Hopefully this list will help you make your decision, as it sums up the most important pros and cons of trading with TopTradePro.

    Pros:

    • ACTIV8 trading platform – great option for beginners

    Cons:

    • No regulation or license – traders are unprotected, could be subject to scam
    • No transparency – lack of basic information on website
    • No demo account
    • No MetaTrader 4 – the most popular forex trading platform

    Is TopTradePro a Scam?

    We do not have sufficient evidence to call-out this broker as being a scam, but we would not recommend TopTradePro to South African traders. They are an unlicensed company that lacks transparency on their website, as well as certain basic features outlined above.

    We believe you can do much better – with a cheaper, regulated and award-winning broker that is voted top for South African traders on our site: IQ Option.

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