Written by ForexBrokers.com
In this head to head comparison of CMC Markets vs TopFX, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
When choosing between CMC Markets and TopFX, understanding their regulatory background and trust ratings is essential. CMC Markets, established in 1989, is a veteran in the online brokerage space and is publicly traded, enhancing its visibility and trust. It holds six Tier-1 licenses and one Tier-2 license, earning it a top-notch Trust Score of 99 out of 99 from ForexBrokers.com, reflecting its status as a highly trusted broker. On the other hand, TopFX, founded in 2010, is not publicly traded and operates with one Tier-1 license. It has a Trust Score of 67, indicating higher risk when compared to CMC Markets.
Neither CMC Markets nor TopFX is a bank, but CMC Markets' extensive regulatory coverage and public trading status provide greater assurance for investors seeking a reliable broker. TopFX, while having a presence in the market, has a significantly lower Trust Score and lacks the regulatory licensing depth CMC Markets offers. For clients prioritizing trust and regulatory oversight, CMC Markets stands out as the more secure option based on the Trust Score guidelines provided by ForexBrokers.com.
| Feature |
CMC Markets
|
TopFX
|
|---|---|---|
| Year Founded | 1989 | 2010 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 6 | 1 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
Comparing commissions and fees, CMC Markets generally comes out cheaper than TopFX for major forex pairs. CMC Markets holds a 5/5 star rating and is ranked #1 of 63 brokers for Commissions and Fees, while TopFX earns 4/5 stars and ranks #41 of 63. On EUR/USD, CMC’s typical spread is 0.61 pips (Aug 2023), and its FX Active plan delivers an all-in cost of about 0.5 pips. By contrast, TopFX’s commission-based RAW account averages roughly 0.88 pips all-in on EUR/USD (July 2024), and its commission-free ZERO account averages about 1.03 pips.
CMC Markets’ pricing is available to all customer segments and account types. The FX Active structure charges $2.50 per side with minimum spreads of zero, producing a 0.5-pip all-in cost on EUR/USD and five other pairs (based on August 2023 data). Importantly, CMC’s average spreads have historically stayed close to its advertised minimums. High-volume traders can also earn spread discounts via the Price Plus Scheme, with tiered savings tied to monthly Trading Points. FX Active is offered on both MT4 and the Next Generation platform in select regions.
TopFX offers two choices across MetaTrader and cTrader: the spread-only ZERO account and the commission-based RAW account. The RAW account charges 2.75 EUR per side (5.50 EUR round turn), and with an average spread of 0.33 pips on EUR/USD plus a commission equivalent of about 0.55 pips, the all-in cost lands near 0.88 pips—around the industry average. If you prefer no commissions, the ZERO account averaged about 1.03 pips on EUR/USD in July 2024. In short, TopFX is competitive, but CMC Markets typically provides lower all-in costs for frequently traded forex pairs.
| Feature |
CMC Markets
|
TopFX
|
|---|---|---|
| Minimum Deposit | $0 | Depends on payment method |
| Average Spread EUR/USD - Standard | 1.3 | 1.03 |
| All-in Cost EUR/USD - Active | 0.65 | 0.88 |
| Non-wire bank transfer | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| Skrill (Deposit/Withdraw) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
CMC Markets and TopFX both let you trade forex as CFDs or spot. That said, CMC Markets offers a far broader range of investments: 12,029 tradeable symbols and 141 forex pairs, compared with TopFX’s 655 symbols and 60 pairs. CMC Markets also provides access to exchange-traded securities on U.S. markets (so you can buy stocks like Apple) and on international exchanges (such as Vodafone in London), while TopFX does not offer real shares. Both brokers support copy trading.
On the crypto side, neither broker lets you buy actual coins, but both offer cryptocurrency derivatives. Reflecting the overall selection, ForexBrokers.com rates CMC Markets 5 stars for Range of Investments and ranks it 9th out of 63 brokers, while TopFX earns 3.5 stars and ranks 47th. If you want the widest selection, CMC Markets leads; if you only need core forex and CFDs with copy trading, TopFX may suffice.
| Feature |
CMC Markets
|
TopFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 12029 | 655 |
| Forex Pairs (Total) | 141 | 60 |
| U.S. Stocks (Shares) | Yes | No |
| Global Stocks (Non-U.S. Shares) | Yes | No |
| Copy Trading | Yes | Yes |
| Cryptocurrency (Underlying) | No | No |
| Cryptocurrency (CFDs) | Yes | 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). | 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). |
Dive deeper: Best Copy Trading Platforms.
CMC Markets and TopFX both cover the essentials for traders: each offers a free demo (paper trading), web and Windows desktop platforms, copy trading, MetaTrader 4 (MT4), and the ability to place trades directly from charts. Where they differ is platform breadth. CMC Markets provides its own in-house platform in addition to MT4 and also supports MetaTrader 5 (MT5). TopFX does not have a proprietary platform and does not offer MT5, focusing instead on MT4 and its web/desktop options.
Independent ratings reflect these differences. For Trading Platforms and Tools, CMC Markets earns 5 stars and ranks #4 out of 63 brokers on ForexBrokers.com, while TopFX scores 4 stars and ranks #46. If you want more platform choice and MT5 alongside MT4, CMC Markets may be the better fit; if you’re comfortable with MT4, TopFX delivers the core features, including copy trading, web access, desktop access, and trading from charts.
| Feature |
CMC Markets
|
TopFX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | No |
| Charting - Indicators / Studies (Total) | 73 | 30 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Comparing CMC Markets vs TopFX for mobile trading: both brokers offer iPhone and Android apps with price alerts, trendline drawing, and auto‑saved chart annotations. For charting, CMC Markets includes 29 technical studies while TopFX offers 30. A key difference is watchlists: CMC Markets syncs watchlists between the mobile app and your online account, but TopFX does not, which can matter if you switch between devices.
Ratings back this up. On ForexBrokers.com, CMC Markets earns 5 stars and ranks #5 out of 63 brokers for Mobile Trading Apps, while TopFX receives 4 stars and ranks #52. In short, TopFX delivers a solid set of indicators, but CMC Markets stands out for its higher overall app rating and convenient watchlist syncing.
| Feature |
CMC Markets
|
TopFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 29 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
| Mobile Watchlist [DELETED] |
Dive deeper: Best Forex Trading Apps.
CMC Markets vs TopFX for market research: CMC Markets publishes daily market commentary, while TopFX does not. Both brokers stream forex news from top-tier sources such as Bloomberg, Reuters, or Dow Jones. Each broker includes Autochartist for trading ideas, and both provide a sentiment tool showing long/short positioning plus an economic calendar. Only TopFX adds Trading Central research. CMC Markets does not integrate Trading Central and does not offer TipRanks or Acuity Trading tools. For TopFX, availability of TipRanks and Acuity Trading is not disclosed.
Overall research quality leans toward CMC Markets: it earns 5 out of 5 stars and ranks #6 of 63 brokers for Research at ForexBrokers.com, while TopFX scores 3 out of 5 stars and ranks #61. If you want steady in-house commentary and wide news coverage, CMC Markets is the stronger pick; if you specifically want Trading Central insights alongside Autochartist, TopFX may suit you, but its lower rating and lack of daily commentary are worth noting.
| Feature |
CMC Markets
|
TopFX
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | No |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central | No | Yes |
| Client sentiment data | Yes | Yes |
| TipRanks | No | |
| Acuity Trading | No | |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
For beginners, CMC Markets offers far more learning support than TopFX. CMC provides at least 10 beginner-focused trading videos, plus 10 or more advanced videos to keep you progressing. TopFX does not meet that threshold for beginner or advanced video lessons. Neither broker runs monthly educational webinars, and it’s not clearly stated whether either one maintains a searchable webinar archive, a larger forex and CFD education library with 10-plus pieces, or an investor dictionary.
Independent ratings back up this difference. In the Education category at ForexBrokers.com, CMC Markets earns 5 stars and ranks 10th out of 63 brokers, while TopFX earns 3 stars and ranks 62nd. If you want a stronger video-based path to learn the basics of forex and CFDs, CMC Markets is the better choice; TopFX may suit traders who need fewer in-house materials and plan to learn elsewhere.
| Feature |
CMC Markets
|
TopFX
|
|---|---|---|
| Webinars | No | No |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | Yes | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that CMC Markets is better than TopFX. CMC Markets finished with an overall rank of #4, while TopFX finished with an overall rank of #62.
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.
| Feature |
CMC Markets
|
TopFX
|
|---|---|---|
| Overall Rating |
|
|
| Trust Score | 99 | 67 |
| Range of Investments |
|
|
| Commissions & Fees |
|
|
| Platforms & Tools |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
CMC Markets and TopFX both allow the purchase of cryptocurrency derivatives, though neither provides the option to buy actual delivered cryptocurrencies.
CMC Markets vs TopFX payment methods: CMC Markets supports ACH/SEPA, PayPal, and bank wire transfers but not Skrill, while TopFX supports PayPal, Skrill, and bank wire transfers but does not offer ACH/SEPA; Visa/Mastercard availability was not specified for either broker.
Please note:
We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.
Select Brokers
↓×Compare
0 of 5| Overall Rating | CMC Markets | TopFX | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 99 | 67 | |
| Winner | check_circle | ||
| Review | CMC Markets Review | TopFX Review |
| Broker Screenshots | CMC Markets | TopFX | |
|---|---|---|---|
| Broker Gallery (click to expand) |
|
|
| Regulation | CMC Markets | TopFX | |
|---|---|---|---|
| Trust Score | 99 | 67 | |
| Year Founded | 1989 | 2010 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 6 | 1 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | CMC Markets | TopFX | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | |||
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | CMC Markets | TopFX | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA, FSRA, or SCA Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | CMC Markets | TopFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 12029 | 655 | |
| Forex Pairs (Total) | 141 | 60 | |
| U.S. Stocks (Shares) | Yes | No | |
| Global Stocks (Non-U.S. Shares) | Yes | No | |
| Copy Trading | Yes | Yes | |
| Cryptocurrency (Underlying) | No | No | |
| Cryptocurrency (CFDs) | Yes | 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). | 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). |
| Cost | CMC Markets | TopFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.3 | 1.03 | |
| All-in Cost EUR/USD - Active | 0.65 | 0.88 | |
| Inactivity Fee | Yes | No | |
| Order execution: Agency | No | No | |
| Order execution: Market Maker | Yes | Yes |
| Funding | CMC Markets | TopFX | |
|---|---|---|---|
| Minimum Deposit | $0 | Depends on payment method | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | Yes | No |
| Trading Platforms | CMC Markets | TopFX | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | No | Yes |
| Trading Tools | CMC Markets | TopFX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 73 | 30 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | CMC Markets | TopFX | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 29 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | CMC Markets | TopFX | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central | No | Yes | |
| TipRanks | No | ||
| Client sentiment data | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | CMC Markets | TopFX | |
|---|---|---|---|
| Webinars | No | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | Yes | No |
| Major Forex Pairs | CMC Markets | TopFX | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | CMC Markets Review | TopFX Review |
| Overall | CMC Markets | TopFX | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 99 | 67 | |
| Winner | check_circle | ||
| Review | CMC Markets Review | TopFX Review |
IG
CMC Markets
FOREX.com
XTB
eToro
AvaTrade
Plus500
Pepperstone
FP Markets
Tickmill