The Topcmarket is yet another Saint Vincent and the Grenadines based cryptocurrency broker. It advertises itself as the offerer of the first step towards prosperity and financial independence. Apart from crypto found the broker also deals with CFDs over other financial tools like commodities, indices, and stocks. A web-based poor performing trading platform is supplied to its clients. However, this poor trading platform is not our primary concern. There are many concerns about this broker. That’s why we have decided to dig deep into it for this comprehensive and unprejudiced Topcmarket review.
The company named CCAI Limited based in the country of Saint Vincent and the Grenadines is the owner and manager of brand name Topcmarket. Being based in Saint Vincent and the Grenadines, the broker Topcmarket is not at all credible. As SVG government gives license to the brokerage services provider with lax in the documentation and at very cheap price. Furthermore, we have crossed our path with many scams brokers that are situated in the shady area of SVG and it is a special destination of fraudsters. On top of that, the Spanish financial watchdog CNMV has blacklisted Topcmarket for providing illegal brokerage services to Spanish nationals. Such a broker will not allow any profit to its traders. Also, it needs a specific trading volume completing until it allows you to withdraw funds. A simplified web trader that is used by several other scam brokers is available to trade at Topcmarket. The broker has not discussed provided spreads on its official website and it is all a major red flag. The available leverages at Topcmarket reach up to 1:5. These are very good leverages compared to what another cryptocurrency broker provides. A minimum deposit of $500 is accepted by the broker Topcmarket and they are a bit high when compared rest of the legitimate broker. The broker accepts different payments via different channels to access a single account. For bank wire transfer it is capped at USD 500 and via cards, it is USD 100. Also, the withdrawals are capped.
Is Topcmarket scam or legit?
Yes, the broker Topcmarket is a potential scam cryptocurrency broker. Because it is situated in SVG and operates without license and regulation. It charges high initial investment but caps withdrawals. A web trader trading platform which is used by scam brokers is supplied. Also, trading conditions are not properly disclosed.