It’s never been easier to step into the exciting world of online trading, and yet, making the first step can prove to be quite a challenge for many. This is mostly due to an abundance of brokerages out there. However, the issue lays in selecting a legitimate broker among many scam operations. In order to make your choice easy, and your transition into your new trading career smoother, we are browsing through the many brokerages across the world and going over all their features and issues. This way you get a good idea whether any given brokerage is trustworthy without wasting any of your time or money. Today we focus on TopMarketCap.
When you first load up their homepage, you get the impression that you are dealing with a serious broker. While many others use cookie-cutter solutions, TopMarketCap stands out with a lavish design that is apparent on every page. You can tell how legitimate a brokerage is by the language they use. There are no elaborate promises of wealth and riches. They are not trying to lure you in and then take advantage of you. Instead, the focus is placed on trading and quality of life features and how they can enrich your trading experience. Continue reading our TopMarketCap review to find out more about these features and how they are a massive help to any trader regardless of prior experience.
Quality of Service
While the trading platform is one of the most important aspects of any brokerage, there is much more to consider. First of all, we need to address the accessibility TopMarketCap offers its clients. If you are making your first steps in this industry, you should head directly to the education Center. Here you will find plenty of educational resources that are accessible to anyone without the need to even register. All content is divided into several categories Glossary contains all the relevant terminology you will be using on a daily basis. Once you master that, feel free to skip to the eBooks sections. It will teach you all the basics and intermediate knowledge necessary for making a successful career in online trading. Once you register, you will gain access to additional material such as market reviews, trade signals, webinars and much more.
In fact, when you do decide to open an account, you can choose between several account types. These are designed to accommodate traders with different degrees of experience, ambitions, and budget. If you only wish to experiment a little, you can do so with just €250. When you are ready to invest more, the list of perks starts increasing drastically. Here is a more detailed breakdown of all account types:
There are no restrictions on the basic account. You have access to more than 200 tradable assets with a leverage of up to 100. To make your investment strategy more sound, you can go through the market review to gain more market insight.
Deposit of €10,000 will get you your own dedicated senior account manager, improved spreads and leverage, monthly webinars and much more. Bonus funds will be there at your disposal to make creating new strategies even more enjoyable.
This is the highest tier you can access when opening your account. Leverage and spreads continue increasing, you start getting trades signals, financial and risk management planning and private analyst sessions for investments of €50,000 or higher
At the moment of writing, this account type is invitation only. There are no clear instructions on how it can be reached, but the sheer amount of perks make it worthwhile. In addition to everything previously mentioned, you get VIP spreads, Leverage of up to 400, complete access to trade room analysis, special venture promotions, access to VIP events and most importantly – prioritized withdrawal process.
If any of this seems overwhelming, you will be lucky to hear that the customer support system works like a charm. There are several communication channels you can opt for depending on your preference. If you prefer talking to someone there are three call centers, In Australia, United Kingdom and Austria. All teams are highly professional and polite, so feel free to contact any of them based on your location and language preference. If you prefer to chat, you can do so via email or the Live Chat feature. Both provide prompt answers and come in handy when you have no time for talking to TopMarketCap representative.
Speed of Response
Like we previously mentioned, trading platform is probably the most important feature of any brokerage since you will be spending the majority of your time on it. There are two main paths any given brokerage can take. They can either opt for purchasing software from third party, or completely develop their own solutions. While some platforms like Meta Trader have been around for a long time, and have become a preferred choice for many traders, there are several issues with it, that have not been addressed in a long time. Most of all, there is a problem with inaccessibility for newcomers. The learning curve is very steep, and it can take months for anyone to learn how to successfully navigate the platform and use the most of its features.
TopMarketCap has developed their own solution from the ground up. The main idea seems to be user-friendliness. Anyone can easily learn the ropes within minutes. Everything is laid out logically as the more cumbersome features take the back seat, and the majority of the screen is reserved for the necessary options. Left portion is reserved for tradable assets. You can easily locate the one you need and at a glance, you can see how it performs. If you highlight it, you get access to an interactable real-time performance monitor. Here you can use trading tools to create a winning portfolio.
This kind of approach has several benefits. First of all, you can notice a bump in speed from the get-go. The light-weight nature of the platform enables it to execute trades without any delay which is huge in such a fast-moving industry. Even though some features had to be sacrificed in order to achieve such stability and speed, there are still a number of tools at your disposal that make it possible for you to create, test and execute new strategies on the fly. Elliott 3 line and Fibonacci are just a few of many tools that you can utilize. In order to make the most use out of these, you are required to have a certain knowledge of how the market works. If you are an experienced trader, you can jump right in. If, however, you have no previous knowledge, you can always head to the education centre to learn everything you need. TopMarkerCap has created an enthusing and interactive environment where you can get everything you need without leaving the web site for one minute.
The best thing about TopMarketCap’s platform is the execution speed. It’s precisely to it not being over encumbered by excess of features, that it can perform flawlessly. All trading orders are executed instantly, without any delay, which is crucial in an industry that moves so fast. This gives TopMarketCap a huge advantage over its closest competitors. On the other hand, speed for making deposits and withdrawals can vary, but more on that in the following part of TopMarketCap review.
Encountering hidden fees is one of the biggest fears for new traders. TopMarketCap tries to address this by being upfront about it. You can read all about the costs in the terms and conditions. Main thing to know is the minimum withdrawal fee. In this case, it is 100 USD/GBP/EUR. However, traders should keep in mind that “A withdrawal fee of 1% with a minimum withdrawal fee of 30 USD/GBP/EUR and the maximum withdrawal fee of 300 USD/GBP/EUR will be deducted from your balance with every withdrawal you make”. You can also be eligible for refunds. If for any reason you are not satisfied with the platform or any other aspect, you have the right to apply for a refund of your current eligible account balance, subject to the cancellation clause.
Variety of Payment options
All of the industry standard options are supported at TopMarketCap. Based on your preference, you can make deposits and withdrawals via Credit Cards, Bank Wire transfers or Bitcoin transfers. All of these have their own benefits and drawbacks. Traders should be aware that all bank related options are subjected to longer waiting times due to bank policies. We advise consulting your bank provider to check applicable conditions beforehand. On the other hand, all bitcoin transfers are instant, but you will need to have an e-wallet in order to use crypto payments.
To sum up our TopMarketCap review, we were pleasantly surprised with what we experienced. Regardless of your prior experience, you can expect to have a good time trading. Newcomers will appreciate the abundance of educational material that can be used to better understand the market and adopt new skills. On the other hand, veteran traders can enjoy the smooth platform with its lightning fast performance. It is a great time to be a part of the trading community. You can not go wrong in choosing TopMarketCap as your broker of choice. Level of support you are receiving will set you up for a long career in this industry, and the only limit you will be facing will be your own ambition. TopMarketCap has set a new standard, that other brokerages need to adopt in order to remain competitive.