TopFX is a website for online trading. In online trading, traders speculate on rising or falling prices. Online platforms such as TopFX thus enable transactions with various financial instruments.
Particularly important is the question of whether the respective platform has a financial supervisory licence and is supervised by the responsible state authorities.
Losses suffered in online trading or payout refused?
Traders who have suffered financial losses as a result of their online trading can have their matter reviewed by a lawyer and find out whether they can make a claim for compensation. Those who have difficulties with their payout requests can also contact a lawyer. There are various breaches of duty that can result in claims for compensation. Many legal regulations exist to ensure consumer protection. The ESMA (European Securities and Markets Authority) has greatly expanded consumer protection for several years.
TopFX - the most important facts about Forex and CFD trading
In the forex market (foreign exchange market, currency market, FX market, foreign exchange market), traders bet on changes in exchange rates. What many traders do not realise is that the FX market is the largest financial market in the world. Much higher turnover than the stock market. In the year 2013 amounted to the daily turnover on the FX market is around USD 5.3 trillion.
At the CFD trading, traders bet on increases or decreases in various underlying assets. The profit or loss incurred results exclusively from the change in the underlying asset, hence the name contract for difference. Due to the leverage effect, above-average profits are possible with less personal involvement than with other financial instruments.
CFD and Forex trading - even state control is no guarantee of legality
The online companies for Forex Trading Forex trades are becoming more and more numerous. Some of them have a financial supervisory licence and are monitored by the relevant financial supervisory authorities. A financial supervisory licence is usually an important prerequisite for the reliability of an online trading platform. However, even a licence does not necessarily mean that breaches of duty on the part of online companies are completely ruled out.
Many forex companies are based in Cyprus and are regulated by the Cypriot financial supervisory authority CySEC. .
Reviews and ratings
Forex and CFD investors should take a close look at the reviews and ratings of individual forex and CFD providers on the Internet.
Forex and CFD Trades - General Terms and Conditions
However, online traders should be careful and look carefully at the conditions offered by online companies.
Why do even safety-oriented investors trade forex and CFDs?
Even safety-oriented investors are trading forex despite the risk of total loss, as they see no other alternatives due to the low interest rates that have persisted for several years. More and more investors in Germany, Austria and Switzerland are looking for lucrative investments.
Autotrading, trading robots, social trading and forex trading
In the area of forex trading, there are now offers for autotrading, trading robots and social trading, which are supposed to guarantee secure profits. You should also be careful in this respect.
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