I believe it is recommendable that anyone who is opting to invest their time and resources in an online broker should go through key categories to evaluate their trading platform.During my hunt for a reliable online broker, I brokedown all those categories that I think one should look into vividly.
After researching and reviewing many platforms, I think I have gained enough knowledge about how a broker should be for it to be trustworthy. In my early stages of this trading venture, I used to read customer’s reviews on their respective brokers, thoroughly, which helped me in finding the criteria that a broker should fulfill.
I have summed up my knowledge and experience in making evaluation criteria that I have followed for all my trading so far. These evaluations helped me in deciding whether an online broker is worthy enough for me to be a part of. I will write my review based on the same evaluation on TopMarketCap. Following are the categories I will take you through for my review.
- Asset type
- Trading Experience
- Usability
- Range of Offerings
- Research Amenities
- Trading Technology
- Layout/Portfolio Analysis
- Customer Service
- Education
- Account Amenities
- Security
Asset Type:
TopMarketCap users can enjoy 5 different asset categories on their platform:
- Stocks
- Indices
- Currencies
- Commodities
- Crypto-Currency
These categories include all together 200+ assets for their clients to invest in.These assets are available for trading from 23 nations. However, traders from countries like Iran and the USA cannot access this platform.
The vast variety of assets has a separate page under the name “assets Index”. During my investigation of this broker, when I came across “asset index” I was mesmerized by how organized and well put together their assets were. They were arranged alphabetically, which made it easier for me to look for a particular asset I was interested in.
What made this more intriguing for me was that under those assets TopMarketCap has also mentioned the trading hours of each asset and their Expiry rule as well. I found this feature of TopMarketCap to be very convenient for me.
Trading Experience:
To evaluate this category, I started with the other client’s review. Any ideal online broker should focus on the trading experience that their users are getting from the platform. While trading with this platform, I found that TopMarketCap puts forth their client’s needs and constantly works their way up in the betterment of improving their platform.
My trading experience with TopMarketCap has been very pleasant. From their very simple and user-friendly layout of the webpage to their advanced trading technologies made a positive impact on my experience. Their ability to adapt and bring changes to the platform is also worth mentioning.One thing that I noticed while browsing through their webpage was the restricted option to the language. Only two languages, English and German, were set up for the members to choose from.
Trading Technology:
You can always tell whether a broker is going to be promising for you by looking into their trading technologies. TopMarketCap uses top trading technologies like streaming real-time data and smart order routing technology.Before becoming a member of this platform, I could try out some of their tool available to their non-members. I think this helped me in deciding whether I wanted to be a part of this trading platform based on how complex or befitting their trading tools will accord to my expertise.
In most cases, I could only access any broker’s chart when I became their registered member. After I gained access tosuch platforms, sometimesI was left disappointed because I found their charting capacities and tools out of my understanding. With the TopMarketCap platform, I experienced the total opposite and was fully satisfied with their trading features.
Usability:
I found the usability of this platform to be relatively foolproof, as compared to the other platforms I resonated with. While using this broker I feltthat unlike most of the brokers,TopMarketCap provided me with a diversity of customizable features. This customizable nature made it stress-free for me to change the platform that caters to my needs and efficiency.
Another thing that I like was their straightforward yet simple way of setting up the account. There wasn’t much information needed by this platform, which I think can be a hassle for some.Another enticing feature was where I could amend and store my information for future purposes but for a limited time though. On the off chance, I felt like the usability of this platform could have been enhanced even more if this platform was accessible through a mobile application.
Nonetheless, I felt like the usability of this platform hits its mark far better than the other platforms.
Layout/Portfolio Analysis:
With TopMarketCap, I could manage my portfolio with ease. Because of its easy access and handy layout, keeping track of my trading was stress-free. Also, other features like the speed of their platform turned out to be one of the prominent qualities.
The uprising use of advanced technologies even in the trading industry can sometimes be baffling for some people. They become hesitant towards the use of the new technology. Most people cannot get themselves around with complex tools. What I liked about TopMarketCap is that, even though they have been using some new technologies to make trading, they have also made it straightforward for the clients.
However, when I first had a look at their webpage layout, it put me off a little. The dark color scheme they used for their webpage felt very tiring to the eyes. As I had to focus on the content written on it. On the main page, they had everything laidout. From opening an account to the insight of their trading platform, and the option to get in contact with representatives, everything is placed at the forefront of the main page. I didn’t feel like I had to search or browse much, which saved me a lot of time.
Customer service:
TopMarketCap’s customer service was something I was captivated by. They had a live chat box for their users, whether you are a member or a non-member. This live chat was accessible to the users 24/7. There were other means available as well, Email and phone call. Both these services had their operating hours. For the email or chat, the operating hours are from Monday to Friday, 07:00 to 14:00 GMT, and for the phone service, the operating hours are Monday to Friday, 09:00 to 13:00 GMT.
The phone call service, however, is only open to Australia, United Kingdom, and Austria. Just like their restriction towards the language, I think they should add different nations for the call service as well.
Education:
It’s hard to find a platform that not only makes trading easy for you but moreover providesextra educational material as well. TopMarketCap has an entire sectordedicated to educational material. These can be helpful for both beginners and advanced users as well.
I found their e-books to be very helpful, whether to understand certain situations of trading or the terminologies of it. But as I got into the higher level of trading and started doing more investments, I felt a shortage of enough educational material available for the advanced members.
Besides the e-Books, TopMarketCap also has a glossary section where they have provided their users with all the terminologies used in the trading world and their meaning. It is a great initiative for beginners to help them out and make them feel more comfortable in the trading business. A section of “Frequently Asked Questions (FAQ)” is also available.
Account Amenities:
Most of the platforms offer 3 to 4 account types, where a user can feel restricted. However, TopMarketCap offers 6 different account types. Each account has its unique features and services that its members can enjoy, accordingly.
- Self-Managed: This account type offers few restricted services as compared to the other account types. The self-managed account could be great for those who are beginners. For instance, I started my journey on this platform with this account type. Since I was an amateur, I went with this account type.It only requires a minimum balance of 250 Euros and comes with the features like Market review and significant leverage up to 100.
- Basic: This account requires a minimum deposit of 5000+ Euros. Just like the Self-managed account type, member of this account type gets to enjoy the Market review and significant leverage up to 200 along with a fully dedicated account manager, trading bonus, Lucrative basic spreads, and Tier 3 trade room.
- Gold: A base deposit of 10,000 Euros is needed for this account. But this opens up the portal to some prominent features that self-managed or the basic account type membercannot get. The only feature they are restricted from is the Invitation to the VIP events.
- Platinum: Its minimum requirement is 25,000 Euros. It offers significant leverage of up to 300, complete access to the Trade room, Invitation to the VIP events, and many more.
- Diamond: Diamond account holders need a minimum balance of 50,000 Euros. But they are offered features like Diamond Lucrative spreads, significant leverage upto 400, and Bitcoin package for trade room, etc.
- Libra:This account is Invitation only.
Security:
TopMarketCap takes its security measures seriously. Any online broker needs to make sure they follow all the risk disclosure, privacy, and anti-money laundering policies. So it was very important for me as well to look into what policies TopMarketCap follows to ensure that my data and resources will be safe with them.
The policies that they follow are mentioned at the very bottom of their webpage:
- Privacy Policy
- Bonus Policy
- Risk Disclosure statement
- Anti-money laundering Policy and KYC
- Withdrawal, refund, and the cancellation policy
Overview:
My total experience with TopMarketCap has been very pleasing, and I will continue my journey with them. I found their platform to be very reliable and secure. However, I think this platform can improve few things to make the experience of their clients more satisfactory.
I hope my review can be helpful for those who are looking for a reliable source for their trading venture.
Disclaimer: This review is written from my own experience and my self-knowledge only and this is not a recommendation.
