Topview Holdings Review – Is this a Reliable Brokerage?

Topview Holdings Review

With online brokers a dime a dozen, it is easy for people to get stuck and not know how to choose a good and dependable broker. Yes, it is a must to have a reliable broker by your side for you to be able to succeed in your goals, but this is easier said than done. The options are often overwhelming and nine times out of ten, people end up making the wrong choice that can result in disaster. Do you really want that? Of course you don’t and this means you have to go through this Topview Holdings review.

It is how you can avert disaster because not every broker is reliable and some of them are just clear cut scams. No one wants to be a scam victim and the only way to prevent this from happening is by being thorough and making sure that you are truly committing to a reliable brokerage and not one that is pretending to be one. Indeed, you will discover that there are a ton of platforms that are just an illusion and when you dig deep and check them out, their reality becomes obvious. If you have already invested money with them, it can be devastating.

Therefore, it is better to do the research before you risk your money and the same approach should be used in the case of Topview Holdings. At first glance, you find this is a licensed broker and many people don’t look past that because licensed companies can usually be trusted. But, you have to ensure that they are not lying about their licensing, which Topview Holdings is. You can find more details about its problems below:

False regulation claims

The first thing that you should always check about a brokerage is their licensing and regulation because those that have been authorized can be trusted for their services. After all, they have to comply with rules and regulations and uphold high standards. Plus, you can also hold them accountable for their actions because there is a regulatory authority that monitors their activities. This has prompted scam brokerages to make false claims about licensing and regulation in order to fool their clients. The same tactic is used by Topview Holdings.

If you check out this brokerage, you will find that it claims to be licensed and regulated in several jurisdictions. This includes Cyprus Securities and Exchange Commission (CySEC) in Cyprus, the Financial Services Authority (FSA) in Seychelles and also the Federal Financial Supervisory Authority in Germany, which is usually known as BaFin. However, you can check the online registers of the regulatory authorities mentioned and not find Topview Holdings mentioned anywhere.

Even the license number that Topview Holdings has provided is not valid, which means that it is making false claims. Their purpose is to just fool people into believing that it is a licensed firm, so they will sign up and by the time they find out the truth, it is already too late.

Similar to another scam

The false claims of licensing and regulation are enough to convince anyone that Topview Holdings is not a brokerage you can or should trust. But, if you need more convincing, then you will find that this brokerage is quite similar to another brokerage that has already been exposed as a scam i.e. Forex24 Market. The Financial Conduct Authority (FCA), which is the regulatory authority in the United Kingdom, has exposed it as a scam.

How is it connected to Topview Holdings? It appears that both websites are operated by the same group of scammers because their websites appear to have the same layouts, their false claims about licensing are also the same and they even mention the same address on their website.

Most importantly, if you take a look at the address, you will notice that Topview Holdings claims to be based in London, United Kingdom. In order to operate from there, it would need a license from the FCA and if you check the authority’s online registers, you will find that it does not have one. This is further proof of its lies.

Demand for personal information

At this point, you are already sure that Topview Holdings is not the kind of brokerage you are looking for because it is not even close to reliable. But, if you think it cannot get worse, then you are wrong because it can and it does. If you try to register with the brokerage just to get more information about its offerings, you will find that it does not let you proceed until you provide the company with a copy of your ID card.

This should immediately sound an alarm in your head because no legitimate company would ever impose such requirements. They are clear and transparent about their services and offerings and will not demand personal information to give you access to these details, as Topview Holdings does. You should never share your ID card this way because it can leave you exposed to a number of cybersecurity risks.

No chargeback possible

There are times when traders sign up with a brokerage, make a deposit and then discover that they have opted for a fraudulent platform. What are their options in this case? You can file for a chargeback in case you have made payments with debit and credit cards, such as Visa and MasterCard. This is where you will find that most scam brokerages do not support this payment method because they are well-aware that their victims can use it for reclaiming their money.

Thus, when you check out the payment methods at Topview Holdings, you will find that they do not offer you the option of using your debit and credit cards, which means you are not likely to get your money back after a deposit. This is another problem with a broker that claims to be licensed and regulated.

What is the Verdict?

Considering the huge flaws you discover when you go through Topview Holdings, you can safely say that it is not a reliable brokerage.