TopTradr Review by professional Forex trading experts the “ForexSQ” FX trading team, Finding out everything you need to know about the broker is in this TopTradr Review.
TopTradr is an Appointed Representative of AFX Market Limited – a global provider of investment and trading services that is regulated by UK’s Financial Conduct Authority (FCA) and the Cyprus Securities Exchange Commission. AFX has two brands – the global online trading provider STO and the asset manager Quantic.
TopTradr is a mobile application, or as its creators put it: “companion app to your trading”. It promises to give $10 000 to a top ranking trader to manage and possibly earn a 25% performance fee of the fund’s total profit, paid out on a quarterly basis.
The TopTradr app has a feature letting the users to follow certain traders and their performance: full transparency on their trades, trading instruments, entry and exit prices, percentage of return, points acquired and timing of trades.
The application tracks the performance of the trader based on several criteria like risk responsibility, consistency of profits and percentage of performance and awards points. These points are factored together with the consistency of returns and equity growth of the account.
The top ranking trader is then allocated $10 000 to manage. There is no limit on how many times a trader can be allocated funds.
Additionally, TopTradr has a “Newsroom” section, which provides daily technical analysis articles, plus market news, which are updated several times a day.
The catch with TopTradr is that in order to use the application and participate in the ranking, one has to have an account with one of TopTradr’s “recommended brokers”, i.e. AFX’s brand Super Trading Online (STO) and the Australian-regulated DirectFX, so it can be said that the application is an ingenious promotional tool for those two brokers.
Both of them are regulated by reputable financial markets watchdogs and offer reasonable trading conditions. STO’s regulation gives it access to the entire EEA (EU + Norway, Lichtenstein and Iceland), while DirectFX is geared for the Australian traders.
This makes TopTradr an interesting and sensible application for those traders who are confident enough in their skills and wish to show them off and eventually make some money on top of that.
Instead of the forex broker you can use Plus500, XM, eToro, Fxpro or AvaTrade forex brokers.
TopTradr Review Conclusion
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