TOPFOREX

Introduction

TopForex was established in Cyprus in 2014 and operates as a registered brand of Goldenburg Group Limited. The broker positions itself as a specialist in forex and CFD trading, offering a diverse range of instruments, flexible leverage, and access to the latest MetaTrader 5 platform. In addition, TopForex aims to deliver comprehensive investment services to clients across Europe.

Market Instruments

TopForex provides five main categories of tradable assets for investors:

• Forex
• Indices
• Commodities
• Stocks
• Stock CFDs

Account Types

The broker currently offers only one live trading account – the Standard Account, in addition to a demo account for practice. The minimum deposit requirement is 100 USD, making it suitable for beginner traders.

Leverage

The maximum leverage varies depending on the asset class:

• Forex: 1:20
• Commodities: 1:10
• Stocks: 1:1
• Stock CFDs: 1:5

While leverage can increase profit potential, it also magnifies risks, so traders should use it with caution.

Spreads & Commissions

Spreads and commissions at TopForex depend on the type of asset:

• The AUD/USD pair has an average spread of around 4 pips.
• Stock trading comes with a 1% commission.
• Stock CFDs incur a 0.2% commission.

Trading Platform

TopForex provides access to MetaTrader 5 (MT5), compatible with Windows, macOS, Android, and iOS devices. MT5 offers a user-friendly interface, advanced technical analysis tools, automated trading capabilities, and is suitable for both novice and experienced traders.

Deposits & Withdrawals

Clients can fund their accounts via credit card or bank transfer.

• Minimum deposit: 100 USD for credit cards, 250 USD for bank transfers.
• Maximum deposit: 10,000 USD for credit cards, unlimited for bank transfers.

TopForex claims to charge no fees for deposits and withdrawals.

Customer Support

Investors can reach TopForex through multiple channels:

• Phone: +357 25030576
• Fax: +357 24030076
• Email: info@topforex.com

The broker is also active on major social media platforms including Facebook, Twitter, Instagram, LinkedIn, and YouTube. The head office is located at 1 Siafi Street, Porto Bello Bld, 3042 Limassol, Cyprus.

Conclusion

TopForex is a CySEC-regulated broker, providing a certain level of transparency and investor protection. With its MT5 platform, diverse range of products, and relatively low minimum deposit, it is a viable option for both beginner and intermediate traders. However, its higher spreads on some pairs and limited account types may make it less competitive compared to larger, more established brokers.