TopTradePro – Scam or Service?

A Broke Review

Whilst there are plenty of reputable and legitimate brokers out there on the market, there remains an equal number of fraudulent brokers who set up shop, scam, and disappear into the hills.

So, with the recent disappearance of TopTraderPro from the online market and is TopTraderPro, one such broker? Is TopTraderPro a scam or a service?

Broker Data

Feature 10CFDs Table Header
Year Founded
2019
Publicly Traded
No
Bank
No
Tier-1 Licenses
No
Tier-2 Licenses
No
Tier-3 Licenses
No
Trust Score
2.2
Overall
3.5

TopTradePro: An Overview

 

TopTradePro is a broker which claims to be registered in the Marshal Islands as their parent company Ideas in Motion LTD. This is a huge red flag; they are an offshore broker, and they are not authorized to operate their services in regulated financial zones such as the UK or USA but continue to illegally promote their ‘services’ in these areas.

Some evidence might suggest that Ideas in Motion LTD is located within the UK since there are some records of this company existing at a UK address and the telephone number listed on their site is registered in London.

 

Schedule a Consultation

Fill in your details and one of our representatives will contact you within 1 business day.

Is TopTradePro a Scam?

Scammers often register their less than legitimate companies in offshore zones such as the Marshal Islands due to a lack of strong regulation and financial oversight which allows them to get away with a lot more than they would under reputable financial bodies such as the watchful eye of the FCA.

Speaking of the FCA, they have issued a warning against this broker as they have been marketing their services inside of the UK without their authorization. They advise against trading with this broker.

Their website is now completely unavailable since scam brokers never stick around long, when reports of a scam come in, they vanish along with investors hard-earned cash. 

They offer a range of different accounts depending on how much you deposit, from the basic plan to the black plan. They claim to provide a range of different perks dependant on account type to give victims an incentive to invest huge amounts of money. They offer trading services in stocks, Forex, indices and commodities and are compatible with the trading platform Activ8

TopTradePro: Scam Warning Sign

The first obvious warning sign that TopTradePro is a scam is the clear lack of regulatory oversight. Without a legitimate and reputable regulatory body,

TopTradePro is able to get away with fraud due to the inability for the financial body in the marshal islands to oversee international trade. They are an offshore broker who is unauthorized to do business in the countries they are advertising themselves in making them a 100% illegal broker.

Secondly, as an offshore broker, the precise location of this company is unclear, it is very likely that their office address in the Marshall Islands only exists on paper and that their actual office building is somewhere in the UK or elsewhere to avoid detection from legal authorities.

And finally, their website is completely down now that they have successfully conned their victims out of their savings. Scam brokers like this don’t stick around long since they are quickly discovered to be a scam, and then they close up shop and run off with all the money they have just stolen. Scams like this work by luring in an unsuspecting investor with promises of wealth and then after the victim makes a deposit, they are unable to withdraw their money due to withdrawal fees, false complications in the withdrawal process and huge wait times.

This isn’t just a sketchy broker with a few points of suspicion, TopTradePro is a complete scam, and you should not invest with them at all costs.

Here are some possible red flags for spotting a scam broker such as TopTradePro:

  • Website is unavailable
  • Unable to log back in, frozen account, blocked account etc.
  • Unregulated or regulated by a less than reputable financial body
  • Unclear location and contact details
  • Warnings from other financial bodies
  • Poor customer reviews
  • Withdrawal fees
  • Huge wait times for withdrawals
  • Vague or no terms and conditions
  • Unclear web content and purposefully overcomplicated information
  • Pushy sales team which is often disguised as friendly customer support
  • Reports from scam spotters advising to avoid trading with them
  • Service is relatively new and hasn’t been in the industry long

TopTradePro is without a doubt a scam, a majority of all reviews of this broker are negative, scam spotters have covered them extensively and advised not to trade with them, and the UK financial body the FCA has issued a warning against them. This is an unlicensed broker with no authorization to be doing business internationally, they are already being looked into by legal authorities, and their site has been taken down.

Do not do business with this broker and if you are currently a victim of their scam, then do all that is within your powers to recover your funds.

Been Scammed by this Broker?
How can you be helped?

If you have been scammed out of your savings by TopTradePro, then Trader Defence Advisory might have the solution for you. Trader Defence advisory provides fund recovery services for victims of fraudulent brokers like TopTradePro. Together with Trader Defence Advisory you can recover your funds and help many others who have been victim to the same scam by bringing the wrong doers to justice. 

Book a free consultation with us or report a scammer so our team of hard-working legal experts can get to work to help you recover your lost finances.