Is TopTradePro Scam or Legit Broker?
No, it is not safe to trade with Ideas in Motion LTD. It has been suspected as a scam broker. It operates under the brand name TopTradePro – a brokerage firm that provides online currencies and CFDs trading services. The company is registered in the Marshall Islands, an offshore zone, and has no authorization or license to perform financial services. Also, many jurisdictions restrict opening a trading account with TopTradePro.
- The Marshall Islands is notorious for its practically absent requirements and regulations. Due to the setup cost being low, it does not regulate forex trading. Therefore, it became an offshore zone for shady forex brokers such as MegaTradeFX, Finbitex, and more.
About TopTradePro
| 🗺️ Registered in | Marshall Islands |
| 🗺️ Type of License | Offshore License |
| 🛡️ Is TopTradePro safe to trade | No |
| 🗺️ Recommended Licenses | FCA in UK 🇬🇧 & ASIC in Australia 🇦🇺 |
| 🖥 Alternative Broker | FP Markets – licensed by ASIC in Australia |
What is TopTradePro?
According to the website, TopTradePro offers the best customer service, superior access to the most useful assets, and trading without commission resulting in last longing profits. However, we have a lot of questions about its reliability. The company doesn’t provide any information about its regulation and is probably not authorized by any regulatory authority.
- The only contact provided on the website is the phone number with a British code. TopTradePro is not regulated to provide its financial services in the UK. Moreover, the broker has gotten into the blacklist of the Austrian regulator Financial Market Authority (FMA):
“TopTradePro / Motion LTD is not entitled to carry out banking transactions in Austria that require a license. The provider is therefore neither permitted to conduct deposit-taking business.”
TopTradePro Review Conclusion
We strongly advise all investors and traders to avoid TopTradePro and other brokers from the Marshall Islands. Very often unregulated or offshore brokers run investment scams. Thus, we advise traders not to trust attractive offerings and promises and instead find a reliable broker with tight regulations. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as City Index, Exness Forex, and eToro.
TopTradePro Update
Recently TopTradePro website remains inactive and unavailable to reach, meaning the broker mutes its trading offering and does not propose account openings. However, we still advise the traders to be alert and careful, in case they receive trading proposals.