Is Allied Top Legit or a Scam? 5 Key Questions Answered (2026)

1. Executive Summary (TL;DR)

Allied Top is currently considered a high-risk broker because it claims a UK regulation that appears to be invalid or unverified, resulting in a low WikiFX Score of 2.22. Although it was established in Hong Kong in 2019 and uses the respected MT5 software, the lack of a confirmed license and recent reports of deceptive behavior make it a dangerous choice for your capital.

Searching for a new broker can feel like walking through a minefield. You see a professional-looking website, but you worry if they will actually return your money when you ask for it. This guide analyzes Allied Top using real-time data to help you decide if they are worthy of your trust.

Question 1: Is my money safe with Allied Top?

Based on the current data, your money is likely at risk.

Allied Top claims to be regulated by the UK's Financial Conduct Authority (FCA) under license number 586463. However, the WikiFX system has flagged this as “Unverified.” Upon closer inspection, that specific license number belongs to a company named “GBM Securities,” not Allied Top.

Why does this matter?

In the world of online trading, a “Regulatory License” is like a driver's license. It proves the broker knows the rules and has insurance if they crash.

• The Mismatch Risk: When a broker uses a license number that belongs to a completely different company, it is often a tactic used to look legitimate without actually following any rules.
• No Segregated Accounts: A valid FCA license guarantees that your money is kept in a “Segregated Account”—a separate bank account that the broker cannot touch for their own expenses. Because Allied Top is unverified, there is no guarantee that your deposit isn't going directly into their own pockets. If they go bankrupt, your money could disappear with them.

Question 2: Are the trading fees and spreads fair?

If we look purely at the numbers, the trading costs at Allied Top seem attractive, but you must ask yourself if they are “too good to be true.”

Allied Top offers three account types with varying spreads:

• Standard Account: Spreads start around 1.6 pips for Forex pairs.
• VIP Account ($5,000 deposit): Spreads drop to 1.0 pips.
• PRO Account ($1,000 deposit): Spreads are as low as 0.5 pips.

The “Double-Edged Sword” of Low Fees

In the trading industry, a spread of 1.6 pips is average. However, seeing a 0.5 pip spread for a $1,000 deposit is unusually cheap.

Why is this a potential trap?

Unregulated brokers often lure beginners in with ultra-low costs. Since they don't actually send your trades to the real market (a process called “A-Book” processing), they don't mind offering cheap spreads because they plan to profit from your losses. Legitimate brokers have higher costs because they have to pay fees to real banks to process your trades. Always remember: if the price seems impossibly low, you might be the product, not the customer.

Question 3: What are real traders complaining about?

Unlike many platforms that hide negative feedback, our database contains specific, serious allegations against Allied Top.

Complaint 1: Deceptive Market Practices

A trader from South Africa reported serious issues:

> “They deceive customers and completely distort market data... Marketing campaigns hype up their trading experts and offer fake 20% bonus fund deals.”

Complaint 2: Margin Confusion

A trader from the Netherlands expressed frustration regarding margin requirements:

> “I find it hard to understand if I make a trade with a guaranteed stop showing the most I can lose is say £100 they still insist in making me pay a margin of say £250.”

Pro Tip: The Danger of “Bonuses”

The first complaint mentions “fake bonuses.” This is a classic warning sign. Regulated brokers (specifically in the UK and EU) are legally banned from offering cash bonuses because they encourage gambling. If Allied Top is offering you free money to trade, it is almost certainly because they are not following strict regulatory standards. The goal of a bonus is usually to lock your money in so you cannot withdraw it until you trade a massive volume.

Question 4: What software will I use?

If you choose to trade here, you will use MetaTrader 5 (MT5).

Allied Top uses a “Main Label” version of MT5, which is the gold standard in the industry. MT5 is excellent software known for its speed, charting tools, and ability to run automated trading robots (EAs).

Does good software mean a safe broker?

No. Think of it this way: A generic scammer can still rent a high-quality Ferrari. The fact that the car (the software) is nice doesn't mean the driver (the broker) won't drive you off a cliff. While it is good that they don't use a glitchy proprietary app, the presence of MT5 does not cancel out the lack of a valid regulatory license.

Final Verdict: Should I open an account?

No, we do not recommend opening an account with Allied Top at this time.

The combination of a Regulatory Mismatch (claiming a license that doesn't fit), a low safety score of 2.22, and user reports of deceptive bonuses creates an unacceptable level of risk for your savings. There are literally thousands of brokers who are fully licensed and hold your funds in segregated banks—there is no need to take a chance here.

Status changes daily. Before depositing, check the WikiFX App for the latest real-time certificate and to find safer, high-scoring alternatives.