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CMC Markets vs TopFX 2022

ForexBrokers.com

Written by ForexBrokers.com

November 08, 2022

Is CMC Markets better than TopFX? In our analysis of 23 international regulators across 39 of the best forex brokers, CMC Markets is considered low-risk, with an overall Trust Score of 99 out of 99. TopFX is considered high-risk, with an overall Trust Score of 67 out of 99. Learn more about Trust Score.

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Overall RatingCMC MarketsTopFXIG
Overall Rating5 Stars3.5 Stars5 Stars
Commissions & Fees5 Stars4 Stars5 Stars
Offering of Investments5 Stars3.5 Stars5 Stars
Platform & Tools5 Stars4 Stars5 Stars
Mobile Trading5 Stars4 Stars5 Stars
Research5 Stars3 Stars5 Stars
Education4.5 Stars3 Stars5 Stars
Trust Score996799
Winnercheck_circle
ReviewCMC Markets ReviewTopFX ReviewIG Review
RegulationCMC MarketsTopFXIG
Trust Score996799
Year Founded198920101974
Publicly Traded (Listed)YesNoYes
BankNoNoYes
Tier-1 Licenses507
Tier-2 Licenses112
Tier-3 Licenses001
Authorised in European UnionYesNoYes
About RegulationA โ€œYesโ€ for any individual regulator indicates that the broker has at least one brand or entity that is licensed and/or authorized by that regulator within its group/organizational structure. Learn more about Trust Score.A โ€œYesโ€ for any individual regulator indicates that the broker has at least one brand or entity that is licensed and/or authorized by that regulator within its group/organizational structure. Learn more about Trust Score.
Tier-1 Licenses (High Trust)CMC MarketsTopFXIG
ASIC Authorised (Australia)YesNoYes
IIROC Authorised (Canada)YesNoNo
SFC Authorised (Hong Kong)NoNoNo
CBI Authorised (Ireland)NoNoNo
FSA Authorised (Japan)NoNoYes
MAS Authorised (Singapore)YesNoYes
FINMA Authorised (Switzerland)NoNoYes
FCA Authorised (U.K.)YesNoYes
CFTC Registered (USA)NoNoYes
FMA Authorised (New Zealand)YesNoYes
Tier-2 Licenses (Average Trust)CMC MarketsTopFXIG
CBRC Authorised (China)NoNoNo
CySEC Authorised (Cyprus)NoYesNo
SEBI Authorised (India)NoNoNo
ISA Authorised (Israel)NoNoNo
CBR Authorised (Russia)NoNoNo
FSCA Authorised (South Africa)NoNoYes
SEC Authorised (Thailand)NoNoNo
DFSA / Central Bank Authorised (UAE)YesNoYes
Tier-3 Licenses (Low Trust)CMC MarketsTopFXIG
SCB Authorised (Bahamas)NoNoNo
IFSC Authorised (Belize)NoNoNo
CIMA Authorised (Cayman Islands)NoNoNo
BMA Authorised (Bermuda)NoNoYes
FSC Authorised (British Virgin Islands)NoNoNo
FSC Authorised (Mauritius)NoNoNo
VFSC Authorised (Vanuatu)NoNoNo
InvestmentsCMC MarketsTopFXIG
Forex Trading (Spot or CFDs)YesYesYes
Tradeable Symbols (Total)1237765519537
Forex Pairs (Total)15860100
U.S. Stock Trading (Non CFD)YesNoYes
Int'l Stock Trading (Non CFD)YesNoYes
Social Trading / Copy TradingYesYesYes
Cryptocurrency (Physical)NoNoNo
Cryptocurrency (CFD)YesYesYes
DisclaimersNote: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients).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).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).
CostCMC MarketsTopFXIG
Average Spread EUR/USD - Standard0.51 (August 2022)N/A0.86 (September 2022)
All-in Cost EUR/USD - Active0.51 (August 2022)N/A0.5957 (September 2022)
Active Trader or VIP DiscountsYesNoYes
Execution: Agency BrokerNoNoYes
Execution: Market MakerYesYesYes
FundingCMC MarketsTopFXIG
Minimum Initial Deposit$0Depends on payment methodยฃ250.00
PayPal (Deposit/Withdraw)YesYesYes
Skrill (Deposit/Withdraw)NoYesNo
Visa/Mastercard (Credit/Debit)YesYesYes
Bank Wire (Deposit/Withdraw)YesYesYes
Trading PlatformsCMC MarketsTopFXIG
Proprietary PlatformYesNoYes
Desktop Platform (Windows)YesYesYes
Web PlatformYesYesYes
Social Trading / Copy TradingYesYesYes
MetaTrader 4 (MT4)YesYesYes
MetaTrader 5 (MT5)NoNoNo
cTraderNoYesNo
DupliTradeNoNoNo
ZuluTradeNoNoNo
Trading ToolsCMC MarketsTopFXIG
Virtual Trading (Demo)YesYesYes
Alerts - Basic FieldsYesYesYes
Watchlists - Total Fields9714
Charting - Indicators / Studies (Total)843033
Charting - Drawing Tools (Total)401520
Charting - Trade From ChartYesYesYes
Charts can be savedYesYesYes
Mobile TradingCMC MarketsTopFXIG
Android AppYesYesYes
Apple iOS AppYesYesYes
Mobile Alerts - Basic FieldsYesYesYes
Mobile WatchlistYesYesYes
Watchlist SyncingYesNoYes
Mobile Charting - Indicators / Studies293033
Mobile Charting - Draw TrendlinesYesYesYes
Mobile Charting - Multiple Time FramesYesYesYes
Mobile Charting - Drawings AutosaveYesYesYes
Forex CalendarYesYesYes
ResearchCMC MarketsTopFXIG
Daily Market CommentaryYesNoYes
Forex News (Top-Tier Sources)YesYesYes
AutochartistYesYesYes
Trading Central (Recognia)YesYesNo
Social Sentiment - Currency PairsYesYesYes
Economic CalendarYesYesYes
EducationCMC MarketsTopFXIG
Has Education - Forex or CFDsYesNoYes
Client WebinarsYesNoYes
Client Webinars (Archived)YesNoYes
Videos - Beginner Trading VideosYesNoYes
Videos - Advanced Trading VideosYesNoYes
Investor Dictionary (Glossary)YesNoYes
Major Forex PairsCMC MarketsTopFXIG
GBP/USDYesYesYes
USD/JPYYesYesYes
EUR/USDYesYesYes
USD/CHFYesYesYes
USD/CADYesYesYes
NZD/USDYesYesYes
AUD/USDYesYesYes
ReviewCMC Markets ReviewTopFX ReviewIG Review
OverallCMC MarketsTopFXIG
Overall Rating5 Stars3.5 Stars5 Stars
Commissions & Fees5 Stars4 Stars5 Stars
Offering of Investments5 Stars3.5 Stars5 Stars
Platform & Tools5 Stars4 Stars5 Stars
Mobile Trading5 Stars4 Stars5 Stars
Research5 Stars3 Stars5 Stars
Education4.5 Stars3 Stars5 Stars
Trust Score996799
Winnercheck_circle
ReviewCMC Markets ReviewTopFX ReviewIG Review
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CMC Markets vs TopFX Comparison

Comparing forex brokers side by side is no easy task. For our 2022 annual forex broker review, we spent hundreds of hours assessing 39 forex and CFD brokerages to find the best forex broker. Let's compare CMC Markets vs TopFX.

Does CMC Markets or TopFX offer lower pricing?

Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spreads data, and pricing structures vary. Based on our thorough annual assessment, CMC Markets offers better pricing overall for traders.

Is CMC Markets or TopFX safer for forex and CFDs trading?

At ForexBrokers.com, we track where each forex and CFD broker is regulated across over 23 international regulator databases. Here's our findings. CMC Markets holds 5 global Tier-1 licenses, while TopFX holds 0. Both CMC Markets and TopFX hold 1 global Tier-2 licenses. In our analysis of 23 international regulators across 50 brokers, CMC Markets earned a higher Trust Score than TopFX.

Which trading platform is better: CMC Markets or TopFX?

To compare the trading platforms of both CMC Markets and TopFX, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, IG offers a better experience. With research, IG offers superior market research. Finally, we found IG to provide better mobile trading apps.

What about MetaTrader and copy trading?

For forex and CFDs traders, copy trading and MetaTrader are both popular platform options. Both CMC Markets and TopFX offer MetaTrader 4 (MT4).CMC Markets and TopFX both offer copy trading.

How many forex pairs and CFDs are available to trade?

CMC Markets provides traders 158 currency pairs (e.g., EUR/USD) compared to TopFX's 60 available pairs. Forex pairs aside, CMC Markets offers traders access to 12377 CFDs while TopFX has 655 available CFDs, a difference of 11722.

Can I trust CMC Markets?

CMC Markets is publicly traded, does not operate a bank, and is authorised by five tier-1 regulators (high trust), one tier-2 regulator (average trust), and zero tier-3 regulators (low trust). CMC Markets is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC), Investment Industry Regulatory Organization of Canada (IIROC), Monetary Authority of Singapore (MAS), Financial Markets Authority (FMA), and the Financial Conduct Authority (FCA).

Can I trust TopFX?

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).

Is CMC Markets good?

CMC Markets is well-trusted across the globe, and delivers a terrific trading experience thanks to its excellent pricing and selection of over 12,000 tradeable instruments.

Is TopFX good?

TopFX offers the MetaTrader and cTrader platform suites, and grants access to a medium range of CFD markets and forex pairs. However, TopFX struggles to compete with the best brokers in several categories, including market research and education.

Overall winner: IG

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