Btctopbank

General Information & Regulation

Btctopbank is allegedly a forex and CFD broker registered in the United Kingdom that claims to provide its clients with various tradable financial instruments with leverage up to 1:20 on the web-based trading platform, as well as a choice of six different live account types and 24/7 customer support service. Here is the home page of this brokers official site:

As for regulation, it has been verified that Btctopbank does not fall under any valid regulations. That is why its regulatory status on WikiFX is listed as “No License” and it receives a relatively low score of 1.23/10. Please be aware of the risk.

Market Instruments

From this trading software of Btctopbank, we learn that traders can trade with forex, CFD, cryptocurrencies of Bitcoin, Tether, etc., indices, commodities, and stocks.

Account Types

Btctopbank claims to offer six types of live trading accounts, namely Micro, Mini, Silver, Gold, Diamond and VIP. The minimum initial deposit amount is high-$500 for the Micro account, while the other five account types have much higher minimum initial capital requirements of $2,500, $5,000, $10,000, $25,000 and $100,000 respectively. In comparison, licensed brokers allow setting up a starter account with a minimum deposit of $100 or even less.

Leverage

The leverage provided by Btctopbank is capped at 1:20. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.

Trading Platform Available

Platforms available for trading at Btctopbank are web-based, and compatible with desktop and mobile/tablet apps. In any case, we recommend using MT4 or MT5 for your trading platform. Forex traders praise MetaTrader's stability and trustworthiness as the most popular forex trading platform. Expert Advisors, Algo trading, Complex indicators, and Strategy testers are some of the sophisticated trading tools available on this platform. There are currently 10,000+ trading apps available on the Metatrader marketplace that traders can use to improve their performance. By using the right mobile terminals, including iOS and Android devices, you can trade from anywhere and at any time through MT4 and MT5.

Deposit & Withdrawal

Btctopbank says to accept deposits and withdrawals by means of bank transfers, credit/debit cards and a bitcoin wallet. The minimum initial deposit requirement is said to be $500, while there is no mention of what the minimum withdrawal amount is. There are some withdrawal handling and processing fees that will be charged. Withdrawal processing time depends on the method of withdrawal. To withdraw with FIAT currencies, it can take from 3 to 5 business days.

Bonuses & Fees

Btctopbank claims to offer some bonuses. However, the bonus can only be withdrawn when a turnover of 30 times the deposit plus bonus is achieved. In any case, you should be very cautious if you receive a bonus. First of all, bonuses aren't client funds, they're company funds, and fulfilling the heavy requirements that are usually attached to them can prove a very daunting and difficult task. Remember that brokers who are regulated and legitimate do not offer bonuses to their clients.

The broker also charges a dormant fee. If you did not log in and trade from your account within 6 months, your account becomes dormant and will be subjected to a deduction of 10% each month.

Customer Support

Btctopbank‘s customer support can be reached Monday to Friday 08:00-17:00 GMT by email: support@btctopbank.com, info@btctopbank.com or send messages online to get in touch. Company address: Cannon Bridge House, 25 Dowgate Hill, London EC4R 2YA. However, this broker doesn’t disclose other more direct contact information like telephone numbers that most brokers offer.

Risk Warning

Online trading involves a significant level of risk and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.