Overview of Toff
As a professional trading expert, I would like to introduce Toff, a brokerage firm that operates in the United Kingdom. With a founding period of 1-2 years, Toff provides traders with a diverse range of tradable assets, including forex currency pairs, commodities such as gold and silver, indices such as CN300 and A50, and oil like Brent and WTI.
Traders have the opportunity to leverage their trades with a maximum leverage of up to 1:200, allowing them to potentially enhance their trading positions. Toff offers a commission-free trading environment, starting from competitive spreads as low as 0.1 pips, which can help minimize trading costs. Traders can access the popular MT5 trading platform on various devices, including PC, Android, and iPhone, as well as a proprietary trading app.
The broker also provides a demo account option, allowing traders to practice and test their strategies using virtual funds. Customer support is available through email at info@toff-fx.com, and multiple deposit and withdrawal options are offered, including BitWallet, PayRetailers, Wire Transfer, AstroPay, LetKnow, PerfectMoney e-voucher, CallPay, and credit cards.
It is important to note that Toff currently does not possess any valid regulation, and traders should consider this factor when evaluating the risks associated with trading with an unregulated broker.
Is Toff legit or a scam？
Toff Super Markets Ltd lacks valid regulation, posing a potential risk for traders. Additionally, the regulatory status of Australia ASIC (license number: 001296255) is listed as abnormal, with the official regulatory status being revoked. It is crucial for traders to exercise caution and be aware of the potential risks associated with trading with an unregulated broker. It is advisable to thoroughly research and consider the regulatory status of a broker before engaging in any trading activities.
Pros and Cons
Toff Super Markets Ltd offers a range of advantages, including a wide range of tradable assets, competitive variable spreads, access to the popular MT5 trading platform, and the availability of a demo account for practicing trading strategies. Additionally, the broker provides a high maximum leverage of 1:200, allowing traders to potentially increase their trading positions.
However, there are some drawbacks to consider, such as the lack of valid regulation, limited customer support options (only email), and the absence of specified minimum deposit and account types. Furthermore, the availability of educational resources is not specified. Traders should carefully evaluate these factors and conduct thorough research before deciding to trade with Toff Super Markets Ltd.
Market Instruments
Traders partnering with Toff Super Markets Ltd have the advantage of accessing a wide range of popular and mainstream financial markets regardless of their geographical location. The brokerage platform offers various asset classes, including foreign exchange, mainstream forex exchange, rare disk foreign exchange, spot gold & silver, crude oil, indices, Bitcoin, Ethereum, and Litecoin. This diverse selection of trading assets allows traders to explore different markets and capitalize on various investment opportunities. Whether traders are interested in currency pairs, precious metals, commodities, or cryptocurrencies, Toff Super Markets Ltd aims to provide a comprehensive trading experience across multiple financial instruments.
How to Open an Account？
Opening an account with Toff Super Markets Ltd is a straightforward and swift process. Simply click on the “Create an account” button, complete the provided form, and you will promptly receive your login details in your email inbox. It's important to note that the base currency of your account cannot be changed, as all transactions are settled in USD.
Leverage
When it comes to leverage, Toff Super Markets Ltd provides traders with a maximum leverage of 1:200. While leverage can amplify potential returns and allow traders to increase their trading positions, it is important to note that it also carries a significant risk. Inexperienced traders, in particular, may be susceptible to incurring substantial losses if they do not fully understand the implications of high leverage and exercise caution. It is crucial for traders to have a thorough understanding of leverage and its associated risks before utilizing it in their trading strategies.
Trade Size
All trading instruments offered by Toff Super Markets Ltd can be traded with a minimum trading lot size of 0.01 lot and a maximum trading lot size of 20 lots. This flexibility in lot sizes allows traders to have greater control over their position sizes and accommodate various trading strategies. Whether traders prefer to trade with smaller positions to manage risk or larger positions to maximize potential profits, they have the freedom to adjust their lot sizes within the specified limits.
Spreads
Toff Super Markets Ltd provides a commission-free trading environment, offering variable spreads as low as 0.1 pips. This means that traders can execute trades without incurring any additional commission fees. The competitive spreads offered by the broker are attractive to traders as they help minimize trading costs and improve overall profitability. By incorporating all trading costs into the spreads, Toff Super Markets Ltd simplifies the trading process for its clients and enhances transparency in pricing. These competitive spreads contribute to the broker's popularity among traders looking for cost-effective trading options.
Trading Platform Available
Toff Super Markets Ltd provides its clients with access to the industry-leading MT5 trading platform, which can be accessed from various devices. The MT5 platform offers advanced features and functionalities, including the ability to operate trading bots such as Expert Advisors (EAs), conduct in-depth market analysis, and engage in complex trading operations. Traders can also take advantage of the platform's copy trading feature, which allows them to replicate the strategies of successful investors. Moreover, Toff Super Markets Ltd offers a demo account option on the MT5 platform, allowing clients to practice and test their trading strategies using virtual funds of up to $100,000 without risking their real money. This feature provides a risk-free environment for traders to familiarize themselves with the platform and assess its suitability for their trading needs.
Customer Support
Customer service plays a crucial role in establishing the reliability and trustworthiness of a forex broker. However, it appears that Toff Super Markets Ltd falls short in this aspect, as they only offer email support at info@toff-fx.com. The lack of alternative contact channels may limit the responsiveness and accessibility of customer support, which can be a disadvantage for traders who require immediate assistance or prefer more direct communication methods. It is important for traders to consider this limitation and evaluate their own preferences for customer support accessibility when choosing a broker.
Conclusion
Toff Super Markets Ltd offers traders access to a diverse range of tradable assets, competitive spreads, and the popular MT5 trading platform. The high maximum leverage provides potential opportunities for increased trading positions. However, it is important to note the disadvantages, such as the lack of valid regulation, limited customer support options, and the absence of specified minimum deposit and account types. The availability of educational resources is also unspecified. Traders should weigh these factors carefully and conduct thorough research to make an informed decision about trading with Toff Super Markets Ltd, considering the potential advantages and disadvantages associated with the broker.
FAQs
Q: What assets can I trade with Toff Super Markets Ltd？
A: Toff Super Markets Ltd offers a wide range of tradable assets, including foreign exchange, mainstream forex exchange, rare disk foreign exchange, spot gold & silver, crude oil, indices, Bitcoin, Ethereum, and Litecoin.
Q: What is the maximum leverage offered by Toff Super Markets Ltd？
A: Toff Super Markets Ltd provides a maximum leverage of 1:200.
Q: Does Toff Super Markets Ltd charge any commissions on trades？
A: No, Toff Super Markets Ltd offers a commission-free trading environment, providing traders with competitive spreads as low as 0.1 pips.
Q: What trading platform is available with Toff Super Markets Ltd？
A: Toff Super Markets Ltd offers the widely recognized MT5 trading platform.
Q: Does Toff Super Markets Ltd provide a demo account？
A: Yes, Toff Super Markets Ltd offers a demo account option on the MT5 platform.
Q: How can I contact customer support at Toff Super Markets Ltd？
A: Toff Super Markets Ltd provides customer support via email at info@toff-fx.com.
