TopForex-Overview of Minimum Deposit, Spreads & Leverage
Abstract：TopForex was founded in Cyprus since 2014. It presents itself as a registered trademark of Goldenburg Group Limited, a Cypriot investment firm (CIF) supervised and regulated by the Cyprus Securities and Exchange Commission. It also claims that it is Cypriot forex and CFD broker, offering various trading instruments with variable leverage and spreads on new version of MetaTrader5, as well as comprehensive investment services.
General Information
TopForex was founded in Cyprus since 2014. It presents itself as a registered trademark of Goldenburg Group Limited, a Cypriot investment firm (CIF) supervised and regulated by the Cyprus Securities and Exchange Commission. It also claims that it is Cypriot forex and CFD broker, offering various trading instruments with variable leverage and spreads on new version of MetaTrader5, as well as comprehensive investment services.
Market Instruments
TopForex advertises that it mainly offers five different classes of tradable instruments, including commodities, forex, indices, shares and shares CFD.
Account Types
There are a single type of live trading account offered by TopForex, apart from demo accounts, namely the Standard account with the minimum initial deposit of $100.
Leverage
Different tradable instruments are quipped with different maximum leverage ratios. For instance, commodities generally enjoy the leverage up to 1:10, forex with 1:20, shares with 1:1 and shares CFD with 1:5. Keep in mind that leverage can magnify gains as well as losses, inexperienced traders are not advised to use too high leverage.
Spreads & Commissions
Spreads and commissions are significantly affected by what type of trading assets you are holding. For example, the typical spread for AUD/USD currency pair is 4 pips. As for commissions, shares usually requires 1% commission fee and shares CFD requires 0.2%.
Trading Platform Available
When it comes to trading platforms available,TopForex gives traders a choice: new version of MetaTrader5. The MT5 is available both for desktop and mobile devices. Desktop devices are compatible with windows and apple operating systems, while mobile devices are suitable for Android and apple. The MT5 is equipped with all features of the popular MetaTrader4 platform, suitable for beginner, experienced trader as well. TopForex claims that you can enjoy the maximum flexibility and the choice of strategies and steps that only fit you on the MT5.
Deposit & Withdrawal
TopForex accepts deposit via Transfer and Credit Card, and withdrawal with Wire Transfer. The minimum deposit is $250 for Transfer and $100 for Credit Card, and the maximum deposit amount is unlimited for Transfer and $10,000 for Credit Card. Please note that this broker claims to charge 0 deposits or withdrawals.
Customer Support
TopForexs customer support can be reached through telephone: +35725030576, fax: +35724030076, email: info@topforex.com. Besides, you can also follow this broker on some well-known social media platforms such as Facebook, Twitter, Instagram, LinkedIn and YouTube. Company address: 1 Siafi Street Porto Bello BLD, 3042 Limassol Cyprus.
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