Top Trade Swiss is a Contract for Differences (CFD) broker that officially registered its website on July 31, 2023. The broker primarily offers users access to a wide range of trading markets through platforms such as MT4, MT5, and cTrader, including forex, commodities, indices, bonds, digital currencies, stocks, futures, without providing services to jurisdictions where it may violate local laws or regulations.
Company Registration Information and Regulatory Status:
Public information on the Top Trade Swiss website indicates that the broker is regulated by the Financial Services Authority (FSA) in San Diego, California, with a securities dealer license number of SD018. However, clicking on the "Regulation" link on the broker's website redirects to a page titled “Why Top Trade Swiss”, and the name of the broker changes to “Wealth For Homes Best Trading” within the content of this page.
In fact, there is no such entity as the Financial Services Authority (FSA) in San Diego, California. Upon verification, the regulatory information provided on the Top Trade Swiss website was found to be plagiarized from IC Markets’ registration information with the Seychelles Financial Services Authority (FSA), where IC Markets is registered under Raw Trading Ltd, with license number SD018.
Opening an Account:
To open an account with Top Trade Swiss: Visit the broker's homepage and click on “Sign up” in the top right corner of the webpage, enter your name, email address, and other personal information as required, set a login password, and submit. After submission, your account will be successfully registered.
Trading Plans:
Top Trade Swiss offers users four different types of trading plans: Start Up Plan, Re-Investment Plan, Big Earners Plan, Student Plan.
Start Up Plan:
- Trading period: 181 days
- Minimum account opening amount: $1,000
- Maximum account opening amount: $4,999
Advanced Plan:
- Trading period: 48 weeks
- Minimum account opening amount: $49,999
- Maximum account opening amount: $50,000
Mining Plan:
- Trading period: 48 weeks
- Minimum account opening amount: $500,000
- Maximum account opening amount: $10,000,000
DIAMOND Plan:
- Trading period: 10 days
- Minimum account opening amount: $200
- Maximum account opening amount: $1,000
Trading Platforms:
The Top Trade Swiss website claims to offer trading platforms such as MT4, MT5, and cTrader to its users, but it does not provide relevant download links, and the broker named Top Trade Swiss cannot be found on these platforms.
Deposits and Withdrawals:
Top Trade Swiss supports deposits and withdrawals via credit/debit cards, e-wallets, and bank transfers.
Conclusion:
Traderknows warns investors that Top Trade Swiss is actually a clone scam site that copies the broker IC Markets. Investors are advised to choose brokers with transparent information, strong regulation, and good reputation for their investment and trading activities to avoid unnecessary financial losses.
Currently, this broker is marked as a "Scam" on Traderknows.
