In this review, we will describe why Topic Markets (TMFX) is a scam that you should avoid at all cost !
Is Topic Markets Legit?
Looking at Topic Markets website, it shows that they are owned by TMI Holding Limited. TMI Holding Limited ltd is regulated by the Vanuatu Financial Services Commission (VFSC) , a well-known offshore zone and a preferred location for shady brokerage. Topic Markets is an offshore broker. Problem with unregulated brokers is that they are not reliable and abuse the regulations. Make sure to stay away from this broker as they are anonymous and that they can disappear any time without notice.
To make sure you are dealing with a regulated and known broker, you should be able to find easily who is the CEO of this brokerage firm, who is running it etc. Lack of information is a big red flag since you don’t know who will be dealing with YOUR MONEY. This is the reason why Topic Markets is dangerous broker to deal with.
Are Funds Safe with Topic Markets ?
With such lack of information and Topic Markets being offshore, funds are not safe. Security of funds is a huge problem with offshore brokers. A red flag that we noticed is Topic Markets is withholding vital information to users.
Topic Markets could go bankrupt from one day to another since there are no banking information about this broker.