Topmax Global Limited (topmaxglobal.com) is a contract for difference broker established on December 29, 2019, in Canada, primarily providing CFD trading services to investors in markets such as forex, cryptocurrencies, stocks, and precious metals. The platform does not offer services to residents of any specific country outside the US, Belgium, North Korea, Japan, Australia, the UK, Iran, Iraq, or Canada.
Platform Services
Trading Accounts
The platform offers two types of trading accounts: ECN accounts and Standard accounts.
ECN Account
- Maximum Leverage:
- Forex: 1:500
- Metals: 1:100
- Indices: 1:100
- Commodities: 1:100
- Spread: From 0 pips
- Minimum Trade Size: 0.01 lots
- Commission: From $7 per lot
- Overnight Interest: Competitive overnight rates offered
- Margin Call Notification: 100%, with email notifications and other features
- Stop Out Level: 50%
Standard Account
- Maximum Leverage:
- Forex: 1:500
- Metals: 1:100
- Indices: 1:100
- Commodities: 1:100
- Spread: From 1 pip
- Minimum Trade Size: 0.01 lots
- Commission: From $0 per lot
- Overnight Interest: Competitive overnight rates offered
- Margin Call Notification: 100%, with email notifications and other features
- Stop Out Level: 50%
Trading Platform
Topmax Global Limited offers the MetaTrader 5 (MT5) trading platform. MT5 is an advanced multi-asset trading platform that supports trading various financial products like forex, stocks, and futures. It boasts powerful chart analysis tools, various order types, and automated trading features, catering to the needs of different traders.
Trading Products
- Forex: The forex market, as the world's largest financial market by trading volume, mainly deals with the trading of different national currencies. Investors profit by predicting exchange rate fluctuations and buying or selling currency pairs, which offers high liquidity and 24-hour trading but comes with risks of exchange rate volatility and leveraged trading.
- Cryptocurrencies: Digital assets based on blockchain technology, such as Bitcoin and Ethereum. The cryptocurrency market features high volatility, with prices influenced by market demand, regulatory policies, and technology advancements. Investors may achieve high returns but face substantial market and technical risks.
- Stocks: Stocks represent partial ownership in a company, making shareholders part owners. Investors can earn returns through stock price appreciation and dividend payouts. The stock market is influenced by various factors, including company performance, economic conditions, and market sentiment, offering potential returns along with associated risks.
- Precious Metals: Assets like gold and silver are usually considered safe havens. Their prices are affected by supply-demand relations, economic indicators, and geopolitical events. Investors can engage in the precious metals market through the purchase of physical metals, exchange-traded funds (ETFs), or futures contracts to hedge against inflation and market uncertainties.
Deposit and Withdrawal Methods
The broker has not explicitly disclosed the supported deposit and withdrawal methods, minimum amounts, or associated fees on its website.
Contact Information and Social Media
The platform does not have official accounts on mainstream social media like Facebook, Instagram, or Twitter. Users can only contact the broker through the phone numbers and email addresses provided on the website.
Company Background and Regulatory Information
According to publicly available information and inquiry results on the website, the broker is operated by two companies: Topmax Global Limited and TOPMAX GLOBAL (AU) PTY LTD, regulated by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) and the Australian Securities and Investments Commission (ASIC), respectively.
- Topmax Global Limited: Registered on December 29, 2019, and located in Oakville, Ontario, Canada, with registration number 1181367-6. It holds an MSB (Money Service Business) registration number M20600626 with FINTRAC.
- TOPMAX GLOBAL (AU) PTY LTD: Registered on June 6, 2023, located in Adelaide, Australia, with ACN number 668566014. It became an authorized representative of RICH SMART FINANCE PTY LTD on June 12, 2024, holding ASIC authorized representative number 001303890.
Additionally, the "Terms & Privacy Policy" document on the website states that the terms and conditions offered by the broker are governed by applicable U.S. laws, with all parties irrevocably accepting the non-exclusive jurisdiction of U.S. courts and their appellate courts for resolving any disputes related to these terms and conditions.
Notes
- Tips1: The role of the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) is to ensure that regulated financial institutions and specific industries comply with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) and related regulations. FINTRAC does not directly regulate the market activities or compliance of financial derivatives trading. The regulation of financial derivatives markets is generally overseen by the Canadian Securities Administrators (CSA) and provincial securities regulators.
- Tips2: ASIC authorized representatives do not directly hold an Australian Financial Services Licence (AFSL), and their regulation is mainly conducted through the licensee. This may result in less stringent regulation compared to directly licensed entities. In the event of violations or disputes, the division of responsibility between the authorized representative and the licensee may be complex.
Conclusion
Topmax Global Limited is a CFD broker established in Canada, offering trading services in forex, cryptocurrencies, stocks, and precious metals. The company is registered with FINTRAC, but the agency does not directly regulate financial derivatives trading; its Australian subsidiary is an ASIC authorized representative, which may imply weaker regulatory oversight.
Risk Warning
When querying the MT5 trading platform, only information on Topmax Global Limited is available, with no information on TOPMAX GLOBAL (AU) PTY LTD. Additionally, neither the broker's website nor its legal documents clearly specify which company manages the users' accounts and funds.
