Top Notch Trade Station Review – The Alarming Issues with the Broker

Top Notch Trade Station Review

If you are looking to achieve success in the financial markets, then you should know that the right brokerage can play a key role in this process. They have to provide you with the platform, tools and conditions that are needed for trading, so this makes them essential to the process.

If they are unable to maintain quality in any way, your performance will suffer. Therefore, you do not want to make a mistake when you are looking for an online broker to open an account with. Going through this Top Notch Trade Station review is one way of ensuring this.

How? This is because even though most people are aware that not all brokerages are legitimate, they do not know how to distinguish them from the others. There are mediocre companies operating in the market as well and there are also those that are completely fraudulent and their sole purpose is to pocket your money.

It is understood that you want a professional and reliable broker that can be trusted with your money and data and not one that is out to exploit you in every way possible. This is what scammers want to accomplish, so you have to be very careful when you are searching for one.

It is true that the market is flooded with online brokers, but most of these are shady, or downright fraudulent and this is something you should not forget. These criminals are very smart and are aware of just what tricks to use to convince people into trusting them.

Rather than believing anything you come across, you should do your own evaluation of a brokerage as this will help you figure out if there are any issues to be found. When you come across Top Notch Trade Station for the first time, you would naturally be expecting something great given its name.

However, it turns out that there is nothing top notch about the brokerage, despite its name because it has a number of alarming issues that you discover upon its evaluation. What are these issues? Let’s go through them below:

False licensing claim

Licensed brokerages are in high demand these days because people have figured out that it is unlicensed ones that are usually involved in scams and fraud schemes.

Since no one wants to take the risk of being exploited by criminals, they obviously seek licensed companies that are under the oversight of a regulatory body and are in compliance with laws and policies that can ensure protection for everyone involved.

This sounds good, but the problem is that it hasn’t stopped fraudulent brokerages because they simply claim to be licensed and then continue with their exploitation.

Therefore, when a brokerage tells you it has a license, you need to follow up and verify it. The same should be done in the case of Top Notch Trade Station, which claims to be regulated in the United States by an organization called GSE.

The alarming issue here is that this claim is nothing but complete and utter nonsense. The regulatory body in the United States responsible for overseeing the forex market is not GSE.

As a matter of fact, no regulatory authority exists by that name altogether. The Commodity Futures Trading Commission (CFTC) is the one that oversees the US market and brokerages are also required to obtain membership of the National Futures Association (NFA).

The fact that Top Notch Trade Station cannot even get the names of the regulatory bodies in the US right, it is enough for you to conclude that this brokerage is up to no good.

Lack of a trading platform

One of the most impressive claims that Top Notch Trade Station has made to draw people to its website is the availability of the MetaTrader 5 (MT5) trading platform. If you do a bit of research, you can find that the MT5 is recognized as the leading and powerful trading platform in the market today.

It comes equipped with a range of advanced tools and features that can deliver a seamless and hassle-free trading experience for traders.

You will find that Top Notch Trade Station has boasted about offering the MT5 for three types of devices, which seems to be quite impressive, only if it were true. As it turns out, there is no MT5 available.

In fact, it seems that there is no trading platform available at all. All you are provided with is a dashboard that lacks the basic functionality of opening and closing trades. A broker that does not have trading platform is no broker at all.

Poor trading conditions

The fact that there is no trading platform available at Top Notch Trade Station makes everything else irrelevant because there can be no trading altogether. But, you can look at other details to further confirm the truth about the brokerage.

The trading conditions are connected to your bottom line, so they are worth checking out. You will find another alarming issue in the form of the leverage ratios that Top Notch Trade Station offers, as they go as high as 1:500. This is definitely a big concern because such ratios are extremely dangerous.

Only crypto payments accepted

The deposit policy of a brokerage needs to be evaluated because you want to keep your funds as safe as possible and this can depend on the method used.

You will find that Top Notch Trade Station only offers you deposits via one method; cryptocurrencies. This is also an alarming issue with the broker because crypto payments are considered irreversible and there can be no refunds.

These payments are not eligible for a chargeback, as in the case of deposits made via credit cards. Moreover, scammers like Top Notch Trade Station also prefer crypto payments because they tend to be anonymous for the most part, so it is not possible to track them so easily, allowing them to get away with the money.

Conclusion

Considering these alarming issues that you uncover about Top Notch Trade Station, you can conclude that this brokerage is not a reliable platform.