Trust is arguably one of the most difficult things for a brokerage to establish. In today’s landscape, there is way to many scammers looking to earn a quick buck, so it is no strange that novice traders have a difficult time choosing who to trust. Last year brought many new players into the game, each with their own benefits and drawbacks. TopMarketCap was one of those newly-founded brokerages with a lot of promise.
It was founded by industry veterans, as they claim. While we were sceptical in the beginning, it was easy to determine the legitimacy of it all. In our in-depth coverage, we spent a lot of time exploring all available features. In our TopMarketCap review, you will be able to find out how this brokerage stacks up to the industry leaders and whether they are worthy of your time and money.
The whole “build by industry veterans” talk really intrigued us. According to the founders, TopMarketCap was built with many trader issues in mind. Only someone who was been through thick and thin knows how to identify these issues and how best to circumvent them. The first time this becomes apparent is in the website design. There are no lavish promises which is most commonly associated with getting rich quick scammers. The entire focus is on its standout features with very little to no fluff.
The second thing that caught our eye was the general accessibility. While there is no Demo account, there are plenty of account types that are designed to match anyone’s appetite. Based on your needs, you can choose from Silver, Gold or the Platinum tier. For the most accomplished traders, there is the VIP account, but it seems to be an invitation only. Below is a detailed breakdown of each tier.
This will be a starting point for most. The entry barrier is set very low at €250, This gets you full access to TopMarketCap’s platform with more than 200 tradable assets. You have no limits when it comes to creating and experimenting with your trading strategies. Starting leverage is 1:100 and with additional market reviews, you get everything you need to get your feet wet.
If your ambitions are larger, you can skip to the Gold tier. Some might feel the increase in necessary funds is very steep at €10,000, but the additional perks will make it feel worthwhile. For starters, you get your own dedicated senior account manager. Improved spreads and leverage go well with bonus funds you receive. Monthly webinars are there to help you improve your education so that you can have a better grasp of the market and its trends.
Experienced traders will undoubtedly start with Platinum tier immediately. Deposits of €50,000 gets you trading signals. Everyone who has ever traded knows the true value of this, so we greatly appreciate its addition. Financial and risk management planning will increase your understanding of some market aspects and private analyst sessions are a nice touch. You basically receive all the tools and all the education you need to have a successful trading career.
There are no clear indications on how you can reach the VIP tier. The website states that it is invitational only, and we are unclear on what conditions traders need to meet before they are extended an invitation. The only thing we are certain is the substantial list of perks. In addition to everything previously mentioned, you get the best spread and leverage, complete access to trade room analysis, access to lucrative VIP events, complete access to all educational material as well as prioritized withdrawal process.
Being a complete beginner in this industry can seem daunting at first. Luckily, there is plenty of educational content out there to stimulate eager minds. TopMarketCap goes one step further. In order to retain traders for longer, the offer numerous educational packages. The best thing is that most of these are free of charge and can be accessed without even creating an account. In the Education Centre, you can find everything you need to start.
If you are a complete beginner, then the Glossary should be your first stop. This is basically a dictionary of the most common phrases in the industry that each trader needs to master. Everything is alphabetically sorted and given a clear and concise definition. When you master this you can head to the eBooks section that covers many different topics from basic analysis to advanced strategies.
The educational content does not stop there. If you do decide to create an account, based on your tier, you get access to additional content. Their complexity and usefulness varies based on your account type, but all of them are a great asset to any trader, regardless of their previous experience. These tools include daily market reviews, trade signals, trade room analysis, webinars, private analyst sessions and many more.
TopMarketCap takes a brave leap by designing from the ground up its own trading platform. This is where the design philosophy is most apparent. One of the biggest complaints young traders have is the complexity of the trading system and the steep learning curve. This custom made, web-based system addresses this complexity by breaking it down into most essential pieces, and then just shedding off the excess weight. This is most notable in the performance. Every trade order is executed blazingly fast, thus enabling traders to make quick alterations based on the marker movement. This is extremely important especially given the fact that no a lot of tools had to be sacrificed in order to achieve this balance.
The left portion of the screen is occupied by the asset list. All of them are divided into several categories in order to increase visibility. These include Indices, Stocks, Forex, Crypto and Commodities. Each asset has a little preview screen that holds important information. Here you can see the buy and sell value as well as the overall performance since the last session. On the right is the real-time performance monitor. When you select your preferred asset, here you will be able to analyse its past and current performance. You can interact with this chart with numerous tools in order to better understand and predict some current and future trends. Fibonacci and Elliott 3 line are just some of the few elements you will be using every day as a trader.
Regardless of your experience level, you are likely to need assistance at some point. Luckily TopMarketCap has got you covered there. They provide several communication channels so that you can pick solely on your own preference. For all the talkies out there, there are three call centres – Australia, the United Kingdom and Austria. All three seem equally professional and polite so you should choose primarily based on your language preference.
If you don’t have the time, or simply prefer chatting, you can write them an email, fill in the on-page form, or try the surprisingly good Live chat feature. We say surprisingly because we came in expecting a chatbot to great us. Instead of that, we were greeted by an actual person. This was much more helpful, so we would recommend anyone to give it a shot. Alternatively, you can check out the F.A.Q. if you want to try and figure things out for yourself.
There is hardly any deviation from the mainstream offering here. If you have even used a bank or an eWallet, you will be set to go. TopMarketCap supports credit cards, bank wire transfers and Bitcoin transfers. Deposits are instant, as withdrawals can vary depending on what you chose previously. It’s important to note that most if not all of these delays are not caused by the trading platform, but rather the bank. We always advise our readers to consult their banks beforehand and inquire about their transfer policies so that there are no surprises down the road. If you place your trust in the cryptocurrencies, you will be happy to hear that all eWallet transactions are pretty much instant. In our opinion, it is even worth considering opening one, just for this convenience alone. In the end, it is all up to you, because at all times you are sure your funds are kept safe.
TopMarketCap has made huge leaps in technology and service offering. We are not used to seeing such a complete package from such a young brokerage. With such an innovative approach that places accessibility and performance above all else, we can see TopMarketCap carving a big name for itself sooner rather than later. Based on all our experiences, we are more than happy to recommend them as a viable choice for your next broker. The only thing we would like to see improve is the language offers, as currently, you can only choose from English and German, and that is simply not enough if you are planning to target customers across the globe.