Attention! Fraud company!
Leave a request for a refund from a scammer.
One-day offices continue to cash in on poor users who are already suffering from lack of money amid the pandemic. I did not disdain other people's means and TopTrade scam. The abundance of negative reviews indicates that the sharaga has been trading for a long time.
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Literally a month ago, thieves changed their Estonian registration to Ukrainian and began to actively attack traders who blindly believe in a great freebie. Who in the end remains in the black, and why is the project bred still alive and well? This is what we have to figure out.
Basic information about the office "TopTrade": an overview of documents
Judging by the fake awards, about which there is not a word on the Web, the crooks became more active in 2018. This seems to be true, since the first reviews of charlatans began to appear around the same time. Breeders periodically change the information on the resource, buy positive comments and start all over again.
At the same time, the site of scammers is visited by 60 people per day.
And the main flow of customers comes from Sweden and Russia.
In the footer of the platform it is written in small letters that all payments are made to the details of the franchising company EUROPEAN FOREX GROUP LLC, registered in Ivano-Frankivsk.
The corporation has been operating for only 8 months (since July 2020), and the size of the authorized capital of the LLC is as much as 5 million hryvnias. The main activity of EUROPEAN FOREX GROUP LLC is the provision of legal services. This is where the question arises: how is TopTrade connected to the aforementioned holding, and into whose pocket is your money actually flowing?
According to legend, the activities of sharaga are licensed by the PIPSEC organization, which was created in 2017 in order to protect traders from false brokers. But in the public domain there is no list of companies that are allegedly under her patronage.
PIPSEC is such an ambitious “regulator” that it volunteered to issue licenses to intermediaries living in a fairly wide geographical area: the Marshall Islands, St. Vincent and the Grenadines, Mauritius, etc.
What's wrong here? Supervisory structures in any case should be subordinate to the state of a certain country, guided by its norms, and not try to cover everything at once. Simply put, PIPSEC is not a financial regulator, but an independent company that issues certificates to just anyone.
Phone number "TopTrade" for some reason generally with the UK code. It seems that the crooks themselves are entangled in their own lies.
The scammers hid the most interesting information in the “About us” section. Swindlers openly intimidate victims. It turns out that if you cause damage to a sharaga with a false refund request, you will be forced to pay TopTrade a penalty (in addition to the principal amount) in the amount of $5,000. In this case, the scammers do not have to provide any evidence.
We also reviewed the Terms and Conditions document and found very contradictory clauses in it.
Not only do you bear the responsibility for the losses, but the scammers also offer to resolve all disputes based on the legal framework of Bulgaria. Why is there a fright if the beneficiary of TopTrade is in Ukraine, and the scammers are hiding behind a dubious offshore license?
To withdraw funds, the client will need to go through the verification procedure. According to reviews, this is what the “TopTrade” scheme is based on. They will pull all sorts of information from the depositor exactly until the admins run out of imagination, and the unfortunate one has patience.
Overview of trade offers "TopTrade"
The scammers allegedly do not charge any commissions, but the “Terms and Conditions” clearly states that for the withdrawal of funds, customers are required to give the scammers 4% of the withdrawal amount. Kind of weird, don't you think?
In total, 4 types of accounts are available on the site - “Silver”, “Gold”, “Platinum” and “VIP”. The minimum deposit amount is 200 USD. Standard conditions:
TopTrade scam reviews
For several years of work, TopTrade scammers managed to collect a pool of negative reviews. The depositors have only one claim - a sharaga with Ukrainian roots, under any pretext, refuses to return their money.
How do TopTrade scammers deceive customers?
Alexei Getze, Anna Dobrovolskaya, Nikolai Sokolovsky are just a small part of the names that appear in the reviews of deceived depositors. Charlatans live in Kyiv, but are focused mainly on citizens of the Russian Federation.
The scheme of the scam is terribly banal. Traders are caught on “sweet” promises of incredible profits, and if the unfortunate person does not have money for a down payment now, the crooks will kindly offer him to take out a loan, which he supposedly will be able to repay in a week.
At first, everything will go well, and the user will even manage to make several successful transactions. But beautiful tinsel is needed only for the investor to give TopTrade twice as much. Bored investors would-be consultants simply give the wrong signals, and all the funds acquired by overwork automatically go in an unknown direction (or, to be more precise, into the pockets of the creators of TopTrade).
Review results
“TopTrade” is not a successful broker, but an ordinary second-rate desk that survives only at the expense of naive investors. The swindlers skillfully twist the charts, press the traders and nightmare them with huge fines for non-compliance with some fictitious rules. We advise you to listen to the feedback of ex-clients and in no case contact TopTrade!
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