TOPS

TOPS, operating under the domain tbforex.com, is a forex and CFD brokerage registered in New Zealand. The company was founded on 13 November 2017 and lists its registered address at Suit 4, Level 2, 20 Augustus Terrace, Parnell, Auckland. According to our records, TOPS holds no known financial regulatory licences from any recognised authority.

This absence of regulatory oversight is a significant factor for traders to consider, as it means the broker is not subject to the standard conduct rules, capital adequacy requirements, or client protection schemes enforced by regulators such as the FMA in New Zealand or other major global bodies.

Our review has identified that TOPS is not regulated by any financial supervisory authority. The New Zealand Companies Office shows the entity as registered, but registration alone does not confer regulatory standing. Without a licence from the Financial Markets Authority (FMA) or an equivalent body, clients have no access to dispute resolution services or compensation funds.

For traders, this represents a heightened risk profile. Unregulated brokers are not required to segregate client funds, nor are they subject to regular audits. In the event of a dispute or insolvency, clients may have limited legal recourse.

TOPS appears to target retail forex and CFD traders, likely offering leveraged trading on currency pairs, indices, commodities, and possibly cryptocurrencies. Without regulatory constraints, the broker can offer high leverage and potentially aggressive marketing terms. However, the lack of oversight means traders should approach with extreme caution.

Given the limited publicly available information beyond the company's registration details, we cannot verify the broker's claims regarding trading conditions, platform reliability, or client fund security. This opacity further underscores the risks.