TOP1 Markets

TOP1 Markets Information

TOP1 Markets is a CFD broker that specializes in CFD trading services in forex, commodities, indexes, equities, and cryptocurrencies. The broker also provides four accounts with a maximum leverage of 1:1000. The minimum deposit is 20 USD. Traders can trade using MT5 through TOP1 Markets and experience 24/7 customer support. However, some people have voiced that it has withdrawal issues.

Pros and Cons

Is TOP1 Markets Legit?

TOP1 Markets is regulated by ASIC under license No.001309512 and License Type Appointed Representative(AR), making it safer than unregulated. It also claims to be regulated by the VFSC, but no regulatory information for this broker can be found on this regulator.

What Can I Trade on TOP1 Markets?

TOP1 Markets offers various market instruments, including forex, commodity, index, stock, crypto, and more.

Account Type

TOP1 Markets has four account types: ECN, Cent, Premium Leverage, and Standard. Traders who want very low spreads can choose an ECN account. In addition, the demo account is predominantly used to familiarize traders with the trading platform and for educational purposes only.

Copy trading is also available, a way for inexperienced traders or followers who dont have the time to do extensive research or want to diversify their portfolio to copy the trades of experienced traders (also known as money managers or copy trading gurus). Muslims are allowed to open Islamic accounts without swaps.

TOP1 Markets Fees

TOP1 Markets is a commission-free trading platform that charges extremely low spreads as trading fees. The investor may need to pay additional fees, such as overnight interest: Overnight Interest = Settlement Price × Contract Size × Lot Size (Long / Short) × Days × Overnight Interest Rate (Long / Short) ÷ 360.

Leverage

The maximum leverage is 1:1000 meaning that profits and losses are magnified 1000 times.

Trading Platform

Traders can conduct financial activities in MT5 available on mobile, tablet, and PC. Traders with rich experience are more suitable for using MT5. TOP1 Markets also provides a propriety and Web trader trading platform.

Deposit and Withdrawal

The first deposit amount must be 20 USD or above. TOP1 Markets accepts online banking transfers, Mastercard, mobile banking transfers, and cryptocurrency payments for deposits.

Under normal circumstances, we do not charge any withdrawal fees to investors. When the minimum limit amount ($20) and number of withdrawals (3 times) are violated, a $3 administrative fee will be charged for each withdrawal that exceeds the free withdrawal limit; When 50% (cumulative) of the investor's deposit amount has not been used to open a position or the deposit is not made by the investor himself, an administrative fee of up to 7% will be charged.