Topwellcg Spreads, leverage, minimum deposit Revealed

WikiFX | 2024-09-25 14:28

Abstract：TopWellCG is a brand of Finotec Trading UK Limited. It provides the most popular trading platform MT4. Besides, the maximum leverage is up to 1:1000, which is attractive. However, its regulation is suspicious and the account types are limited.

　　TopWellCG is a brand of Finotec Trading UK Limited. It provides the most popular trading platform MT4. Besides, the maximum leverage is up to 1:1000, which is attractive. However, its regulation is suspicious and the account types are limited.

Pros and Cons

Pros	Cons
High leverage up to 1:1000	Suspicious clone license
Popular trading platform MT4 provided	Limited account types
	Lack of transparency
	Limited contact channels

Is Topwellcg Legit?

Regulatory Authority	Financial Conduct Authority (FCA)
Current Status	Suspicious clone
Regulated by	United Kingdom
Licensed Institution	YCM-Invest Ltd
Licensed Type	Institution Forex License (STP)
Licensed No.	470392

　　The entity of licensed institution is YCM-Invest Ltd, but the Topwellcg is a brand of Finotec Trading UK Limited. Besides, email, website and address are also different from the Topwellcg provided. Obviously, Topwellcg's regulation is a suspicious clone. So traders should be careful when trading.

What Can I Trade on Topwellcg?

　　TopWellCG offers trading in 40 FX pairs and CFDs on indices and commodities, including precious metals and oils.

Tradable Instruments	Supported
Indices	✔
Commodities	✔
Energies	❌
Options	❌
Cryptocurrencies	❌

Account Type

　　Topwellcg provides a single account type: Classic account. In addition, it also offers managed accounts and demo accounts. And the minimum deposit is $100.

Leverage

　　Topwellcg claims its leverage is up to 1:100. However, the maximum leverage of Topwellcg is 1:1000 when using demo accounts. High leverage levels are generally beneficial, but can also cause heavy losses.

Spreads & Commissions

　　Topwellcg's spread is competitive, average 0.4 pips on EUR/USD, and a commission of $2.47 also applies. So the average trading cost comes to around 0.7 pips per lot, which is really attractive.

Trading Platform

Trading Platform	Supported	Available Devices	Suitable for
MT4	✔	Mobile, Desktop	Beginners

Customer Service

Contact Options	Details
Phone	4000708182
Email	❌
Support Ticket System	❌
Online Chat	❌
Social Media	❌
Supported Language	❌
Website Language	❌
Physical Address	Finotec Trading UK Limited Mappin House, Oxford Circus London W1W 8HF, United Kingdom

The Bottom Line

　　TopWellCG is not recommended for trading. Suspicious regulation means high potential risks traders may face, like funds risks or legal risks. Besides, its trading assets and account type are limited. So traders should be cautious when trading.