Top Assets Trades Review: Is It a Trustworthy Broker?

Top Assets Trades claims to be operating under the name of StoneX Europe Limited and that it’s regulated by no less than CySEC, one of the strictest financial institutions in Europe. 

After checking CySEC’s database, we confirmed that StoneX Europe Ltd is legitimate, but is in no way related to the scamming brokerage we’re writing about today.

Checking a brokerage’s regulatory status can be done in a couple of clicks, and we strongly advise you to do just that before making a decision and investing your assets. 

Our Top Assets Trades Review will provide more details on this clone firm, starting with the basics, so check out the rest below. 

Top Assets Trades License and Regulations

Top Assets Trades is a phony brokerage using a legitimate company’s information and license numbers. The website is useless as half of its functions are not working and a lot of information is missing. 

There are no legal documents on the website, which is another clear sign we’re dealing with an unregulated brokerage. 

Other social media handles aren’t working, so besides the false information about this scammer’s regulatory status, there’s nothing else. 

Why Trading with Offshore Brokers is Risky

Offshore brokers are especially dangerous as they remain almost completely anonymous behind their shell companies. Brokers without a valid license can do what they want with their victims’ investments as there’s no authority to supervise their trading activities. 

Once a trader gets scammed by a fraudulent broker like Top Assets Trades there’s not much one can do. Scam victims have no one to start any legal action against due to the scammers hiding their identities behind their shell companies. 

How Do Offshore Brokers Implement Their Scam?

Offshore brokers operate similarly by advertising their services and making unrealistic promises about getting rich overnight. 

Scams like this often play psychological games with their unsuspecting victims by creating a strong sense of urgency and fear of missing out on the opportunity to make huge profits. 

Once the deposit is made there’s no going back as scammers will empty your account as soon as the transaction is completed. 

In the following lines, we’ll share with you how scammers avoid approving withdrawal requests and overall returning the money back.

High Withdrawal Threshold

One of the ways scammers use to discourage their victims is by setting unrealistic requirements one has to meet in order to be eligible for a withdrawal. 

The same applies to bonuses given, they usually come with strings attached and in most cases never get withdrawn. Those strings attached are usually very high trading volumes that are impossible to achieve. 

This is a very common practice scammers use, and there’s little to be done in order to return your investment as offshore scammers tend to stay anonymous. 

Fake Profits and Withdrawal Cost

Other ways unscrupulous brokers trick their victims are fake profits and too high withdrawal fees. Fake profits schemes are usually used to persuade people into making a deposit as they’re made to believe trading with them could be very profitable. This is how the fear of missing out is installed. 

High withdrawal fees are used to discourage people from trying to withdraw their assets back. Some scammers charge 20% of the total amount, while others have set fees at a certain amount. Besides high transaction fees, scammers often make up excuses for not approving withdrawal requests or just simply saying nothing at all. 

Trading Platform Overview

Top Assets Trades promises its clients to access to the top-of-the-line trading platform, MetaTrader 5, as well as a web platform. 

We couldn’t confirm whether this is true or not as it’s been impossible to complete the account registration process. On a side note, not being able to finish account registration after giving out your personal information is another red flag. 

It doesn’t really matter what trading platform is being offered as we’re already certain we’re dealing with a scamming brokerage, and manipulating trading software to make it seem as if the assets are actively traded is something scammers do. 

MT5, along with MT4, has been the industry standard in the trading industry, but there’s a vast variety of regulated forex traders who also offer the MetaTrader platform to their clients.

Top Assets Trades Deposit and Withdrawal

No matter how much and where we looked, we couldn’t find any information on funding methods. From what we saw, wire transfers and card payments could be an option. 

It’s still unclear if making deposits could be made with those two as each trading plan listed in the description states Bitcoin, Ethereum, and Tether is accepted. 

In the case of a card transaction, the chargeback option is your safest bet in getting your investment back, while for wire transfers it could be more challenging.

Top Assets Trades Summary

Top Assets Trades is another unregulated scamming brokerage that has remained anonymous. Clone firms like this one steal and use information from regulated brokerages to make it seem as if they’re reliable as well. 

Regulated brokers must disclose all relevant information publicly and most regulators have their registers available online, so short research can save you a lot of trouble in the future. 

If you, by any chance, had any negative experience with this or any other fraudulent broker, we would be grateful if you could share it with us. We can help you report your scammer.

FAQs About Top Assets Trades Broker