At the start of this Top Trade 500 review, we want to emphasize that this trading firm is a clone firm. It uses the regulation of Plus500CY Ltd, and the website is entirely copied from the EU Option broker. Thus, anything you see or read on their main page is not actually offered by a TopTrade500 broker. It’s just what they stole from other websites and try to present as their own product.
Also, we encourage you to read our most recent scam broker reviews for Universal Wealth Group, Prism Capital, and Prism Capital. For those who aren’t aware, their investment opportunities are simply too good to be true!
|Broker Status:||Unregulated Scam Broker|
|Broker Regulation:||Unlicensed Forex Provider / No Regulation|
|Operating Status:||Active Forex Trading Scam|
|Blacklisted as a Scam by:||N/A|
|Broker Owner:||TopTrade500 Ltd|
|Headquarters Country:||Cyprus (allegedly)|
|Minimum Deposit:||250 EUR|
|CFD Trading:||Yes, you can trade CFDs|
|Trading Instruments:||Forex, commodities, indices, shares, cryptocurrencies|
|Islamic Account:||Not Available|
|Demo Account:||No, only live trading accounts|
|Accepts US Clients:||US traders are not accepted|
|Global Fraud Protection Team:||Don’t Invest in This Scam Broker!|
Is Top Trade 500 a Scam With No Regulation?
Top Trade 500 Forex brand claims to belong to TopTrade500 Ltd, registered in Cyprus and regulated by CySEC. However, the regulation number we were given belongs to another trading firm, Plus500. If you check the CySEC register and search for license number 250/14, you will find Plus500CY Ltd, a firm with several domains, none of them being toptrade500.com. In addition, the website design was stolen from another CySEC-regulated firm, EU Option.
Based on everything, it’s clear that Top Trade 500 regulation doesn’t exist and that this trading firm is a sad attempt at fraud. They couldn’t come up with anything original but take everything from actually regulated firms. This bogus website is a huge red flag and the biggest reason to avoid investing with unregulated entities.
Despite false claims, Top Trade 500 is not a regulated investment firm. The broker is negatively rated among investors and has no money-back guarantee or any kind of a compensation fund.
TopTrade500 Broker Uses a Fake Address
The broker TopTrade500 claims to be registered at Griva Digeni, 2, Anastasiou Sioukri, 1/1, 3rd floor 301, 3105, Limassol, Cyprus. Once we ran a search, we found out that this address and the website design belong to EU Option. Therefore, we’re unsure where the Top Trade 500 is registered and under which governing law it belongs.
Where Do Top Trade 500 Scam Victims Live?
Based on our research, the TopTrade500 trading scam is mainly active in:
The firm has been active since March 2022 and defrauded many. Avoid investing with unregulated brokers; there’s nothing you can gain from there.
TopTrade500 Support – Luring You Into a Scam
Top Trade 500 has a terrific support team. These people should convince you that all the information you found on the website is accurate, although it’s not. Besides, they need to persuade you to invest on the spot and won’t leave you any time to do due diligence and uncover the plot.
Once you invest, you will be transferred to an account manager asking you to download AnyDesk, TeamViewer, or a similar remote desktop access app. Using it, they can access your PC or a mobile device and, through it, your online banking and crypto wallet. Basically, by granting them access to your device, you’re allowing them access to all the money you have. And that cannot end well.
Supported Trading Platforms – Trading Software
We are pretty much speechless when it comes to the TopTrade500 trading platform. The firm provides WebTrader, but not a regular one. This WebTrader has quite a weird dashboard where you can’t see anything except the chart and apply several indicators. While you’re looking at the chart, you will lose the board showing you open trades, margin levels, and similar. Furthermore, there are no advanced features such as Take Profit, Stop Loss, or EAs.
If you want to start trading, we advise you to find a legit broker offering MT4 or MT5. There’s a reason why this software is praised as the best and the safest trading tool this industry has.
What About the TopTrade500 Mobile Trading App?
Top Trade 500 login is enabled through a mobile app based on WebTrader. You will face the same lack of advanced features and same odd dashboard as you would get on a PC.
Range of Trading Instruments and Assets
If you’re still interested in this bogus brokerage, here’s an overview of trading assets.
- Currency pairs – EUR/USD, GBP/CAD, USD/ZAR
- Commodities – corn, natural gas, crude oil
- Indices – Dow Jones, NASDAQ, FTSE100
- Shares – Tesla, PayPal, Alibaba
- Cryptocurrencies – DOGE, ADA, BNB
Note that a good offer of trading assets doesn’t change the fact that you’re dealing with a clone firm.
Top Trade 500 Trading Accounts
Suppose you want to test trading with Top Trade 500 account types. You can choose one of the following:
- Mini – 250 EUR
- Standard – 2,500 EUR
- Silver – 25,000 EUR
- Gold – 100,000 EUR
Accounts differ in spread, commissions, and TopTrade500 minimum deposit.
Can I Trade With a Top Trade 500 Demo Account?
You can test the system using the Top Trade 500 Demo account with $10,000. However, it’s just a lure. Once you make a profit on the Demo account, and the broker will ensure that you see your money growing, you will feel comfortable enough to start a real account. This is when your struggle will start, since getting a withdrawal from this fraudulent investment broker is nearly impossible.
Did Top Trade 500 Scam You? – Start the Chargeback Process
If you or someone close to you falls victim to the Top Trade 500 scam, let us know. Yes, it may be embarrassing to share what happened, but if there’s the slightest chance of recovering your funds, you must act quickly.
Global Fraud Protection has ways to help you get what’s rightfully yours. Contact us via online chat to book a free consultation. We will evaluate your case, determine if there’s a ground for a chargeback dispute, and help you file it. Don’t give up on your hard-earned money! Fight back.
All In All, Don’t Let the Scammers Get Away for Free!
What Is Top Trade 500, and Should I Invest Money In It?
Top Trade 500 is an online trading brokerage without a license. If you or someone close to you falls victim to their scheme, contact us immediately for help with the refund process.
Can I Trade Cryptos With the Top Trade 500 Broker?
You can trade crypto with a Top Trade 500 broker, but we recommend that you avoid this scammer.
Does Top Trade 500 Offer a Demo Account?
Yes, Top Trade 500 offers a Demo account with $10,000 to test their system.
What Is the Top Trade 500 Minimum Deposit?
The broker requires a standard minimum deposit of 250 EUR for the Mini account.