Tradeable Symbols (Total): 655

Year Founded: 2010

Publicly Traded (Listed): No

Bank: No

TopFX is not publicly traded and does not operate a bank. TopFX is authorised by zero tier-1 regulators (high trust) and one tier-2 regulator (average trust). Learn more about Trust Score.

TopFX is considered high-risk, with an overall Trust Score of 67 out of 99.

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Pros 👍🏻

  • MetaTrader 4 and cTrader are both available.
  • Autochartist integration within the cTrader platform.

Cons 👎🏻

  • No published average spread data for assessing trading costs.
  • Lacks useful market research.
  • MetaTrader 5 is not offered.
  • Educational content is severely limited.


Trust score
Offering of Investments
Commissions & Fees
Platform & Tools
Mobile Trading

Offering of investments

TopFX offers 548 CFDs across a variety of popular asset classes that includes equities, ETFs, commodities, metals, and forex.

Cryptocurrency: Crypto CFDs are not available to retail traders from any broker’s U.K. entity, nor to U.K. residents.

Feature TopFX logo
Forex Trading (Spot or CFDs) Yes
Tradeable Symbols (Total) 655
Forex Pairs (Total) 60
U.S. Stock Trading (Non CFD) No
Int’l Stock Trading (Non CFD) No
Social Trading / Copy Trading Yes
Cryptocurrency (Physical) No
Cryptocurrency (CFD) Yes
Disclaimers Note: Crypto CFDs are not available to retail traders from any broker’s U.K. entity, nor to U.K. residents (except to Professional clients).

Commissions and fees

TopFX offers two account types – both of which are available on MetaTrader and cTrader. There’s the spread-only ZERO account, and the commission-based RAW account. The RAW account charges a commission of 2.75 EUR per side (5.50 per round turn standard lot). The minimum deposit depends on your chosen payment method. Keep in mind: there are no average spreads available to assess the true cost of trading with TopFX.

Feature TopFX logo
Minimum Initial Deposit Depends on payment method
Average Spread EUR/USD – Standard N/A
All-in Cost EUR/USD – Active N/A
Active Trader or VIP Discounts No
Execution: Agency Broker No
Execution: Market Maker Yes

Mobile trading apps

With no proprietary mobile app available, TopFX trails behind industry leaders such as IG and Saxo Bank. For our top picks among trading apps, read our guide to Best Forex Trading Apps.

Apps overview: TopFX offers two mobile trading apps: cTrader and MetaTrader 4 (MT4). iOS and Android versions of both apps are available respectively from the Apple App Store and Google Play store.

Feature TopFX logo
Android App Yes
Apple iOS App Yes
Mobile Alerts – Basic Fields Yes
Watchlists – Total Fields 7
Watchlist Syncing No
Charting – Indicators / Studies (Total) 30
Charting – Drawing Tools (Total) 15
Mobile Charting – Draw Trendlines Yes
Charting – Multiple Time Frames No
Forex Calendar Yes

Other trading platforms

TopFX offers both the cTrader and MetaTrader 4 (MT4) trading platforms. Autochartist is integrated directly into cTrader, but MT4 is the standard out-of-the-box developer version, and there are no notable add-ons to help TopFX stand out from amongst the best MetaTrader and cTrader brokers.

Platforms overview: The MetaTrader 4 suite is available at TopFX for macOS and Windows operating systems, alongside the web version that can be accessed via any modern browser.

Charting: The MetaTrader platform suite is known for its robust user-friendly charts. Zooming in and out and rearranging windows and tabs is a breeze on MT4. It also supports the ability to drag and drop from the default list of nearly 50 indicators. cTrader charts are equally impressive with 65 indicators, four chart types, and dozens of drawing tools.

Autochartist: TopFX offers cTrader with Autochartist directly integrated to help traders find investment opportunities.


Feature TopFX logo
Virtual Trading (Demo) Yes
Proprietary Platform No
Desktop Platform (Windows) Yes
Web Platform Yes
Social Trading / Copy Trading Yes
MetaTrader 4 (MT4) Yes
MetaTrader 5 (MT5) No

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Market research

Market research is lacking at TopFX, which puts it at a disadvantage against most of the brokers I’ve reviewed. I couldn’t find any articles, analysis, videos, or market commentary at TopFX, making it a poor choice for market research – especially when compared to the best brokers in this category.

Feature TopFX logo
Daily Market Commentary No
Forex News (Top-Tier Sources) Yes
Autochartist Yes
Trading Central (Recognia) Yes
Social Sentiment – Currency Pairs Yes

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Educational content at TopFX is largely absent. TopFX’s Facebook page does feature a quarterly recap of stock earnings, some basic platform tutorials, and a few (albeit very brief) educational videos.

Room for improvement: The addition of written articles and an expansion of its range of educational videos would give a needed boost to TopFX’s learning center. The top brokers in this category offer educational videos and articles, and sometimes even quizzes and progress tracking to help you learn about trading and investing. TopFX has lots of space to improve in this category.

Feature TopFX logo
Has Education – Forex or CFDs No
Client Webinars No
Client Webinars (Archived) No
Videos – Beginner Trading Videos No
Videos – Advanced Trading Videos No
Investor Dictionary (Glossary) No

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Final thoughts

TopFX has built a good foundation for its platform offering by making both MT4 and cTrader available. It offers a decent variety of instruments, with 548 symbols and 45 forex pairs.

However, TopFX doesn’t offer MT5 or the larger range of markets typically offered by the leading brokers. Moreover, market research is practically non-existent on the TopFX platform, and it lacks meaningful educational content. Finally, publishing its average spread data each month would highlight the true value of its pricing across its two main account types.

About TopFX

Founded in 2010, TopFX is regulated by the Cyprus Securities and Investment Commission (CySEC) and in Seychelles is a brand of Fondex Limited which is regulated by the Financial Services Authority (FSA).

2022 Review Methodology

For our 2022 Forex Broker Review we assessed, rated, and ranked 39 international forex brokers over a three-month time period resulting in over 50,000 words of published research.

Each broker was graded on 113 different variables, including our proprietary Trust Score algorithm. This innovative scoring system ranks the level of trustworthiness for each broker based on factors such as licenses, regulation and corporate structure. Read about Trust Score here.

As part of our annual review process, all brokers had the opportunity to provide updates and key milestones and complete an in-depth data profile, which we hand-checked for accuracy.

Ultimately, our rigorous data validation process yields an error rate of less than .1% each year, providing site visitors with quality data they can trust. Learn more about how we test.

Forex Risk Disclaimer

There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Read more on forex trading risks.


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