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 |
When comparing the commissions and fees of online brokers CMC Markets and TopFX, CMC Markets stands out as a leader in cost-effectiveness. CMC Markets offers consistently low spreads, earning them the #1 ranking in commissions and fees in ForexBrokers.com's 2025 Annual Awards. Their typical spreads for EUR/USD are impressively low at 0.61 pips as of August 2023. Additionally, their FX Active pricing structure, which charges a commission per trade alongside very competitive spreads, has bolstered their reputation. Available in regions such as Southeast Asia, Australia, New Zealand, Canada, and the U.K., this model provides a 0.5 pip all-in cost for trading the EUR/USD, contributing to their perfect 5-star rating in this category.
TopFX offers two distinct account types: the ZERO account, which is commission-free but has higher spreads, and the commission-based RAW account. The RAW account charges a commission of 2.75 EUR per side, resulting in roughly 0.88 pips all-in costs for EUR/USD trades as of July 2024. While this cost aligns with industry averages, it is higher compared to CMC Markets. Despite being rated 4 stars for their commissions and fees, TopFX trails behind CMC Markets with a #40 ranking among 63 brokers reviewed by ForexBrokers.com in the same category.
Overall, CMC Markets' commitment to competitive pricing and innovative pricing structures like the Price Plus Scheme and FX Active have solidified their position as a top choice for cost-conscious traders. In contrast, while TopFX offers reasonable pricing options, their all-in costs and ranking indicate a higher expense compared to the industry leader, CMC Markets. This analysis makes it evident why traders looking for lower trading costs might prefer CMC Markets over TopFX.
| 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 |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing CMC Markets and TopFX in terms of their available range of investments, CMC Markets stands out with its extensive offering. CMC Markets features a remarkable 12,029 tradeable symbols, including 141 forex pairs, providing a wide selection for investors seeking diversity. In contrast, TopFX offers 655 tradeable symbols with 60 forex pairs. Both brokers accommodate forex trading through CFDs or spot contracts and allow clients to explore cryptocurrency derivatives, though neither offers the capability to purchase actual cryptocurrency. Additionally, CMC Markets provides access to exchange-traded securities on both U.S. and international exchanges, meaning clients can purchase shares like Apple and Vodafone directly, a feature not available with TopFX.
Both CMC Markets and TopFX support copy trading, offering users the ability to replicate successful strategies. However, CMC Markets achieves a higher rating for its range of investments, boasting 5 out of 5 stars compared to TopFX's 3.5 stars. In a broader assessment, CMC Markets is ranked 9th out of 63 brokers by ForexBrokers.com for its investment options, while TopFX ranks 46th. For investors prioritizing range and variety in their trading portfolios, CMC Markets presents a more comprehensive choice, making it an attractive option for those wanting a diverse investment platform.
| Feature |
CMC Markets
|
TopFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 12029 | 655 |
| Forex Pairs (Total) | 141 | 60 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | 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.
When comparing CMC Markets and TopFX in terms of trading platforms and tools, both brokers provide free virtual demo accounts, allowing users to practice and refine their trading skills without financial risk. CMC Markets excels by offering a proprietary trading platform developed in-house, while TopFX does not have a proprietary platform, relying instead on widely-used third-party platforms. Both brokers cater to different trading preferences, providing Windows-based desktop downloads and web-based trading platforms. Users interested in social trading will find that both brokers support copy trading, but neither offers DupliTrade or ZuluTrade integration. While both brokers include MetaTrader 4 (MT4) in their platform offerings, only CMC Markets includes MetaTrader 5 (MT5), providing an edge in advanced charting features.
CMC Markets and TopFX offer trading directly from stock charts, enhancing trading efficiency. However, CMC Markets offers a more comprehensive charting experience with 36 drawing tools compared to TopFX's 15, as well as more options for customizing watch lists with 11 fields, compared to TopFX’s 7. Reflecting these differences, CMC Markets receives a perfect five-star rating for its trading platforms and tools versus TopFX’s four stars. In a ranking of 63 brokers by ForexBrokers.com, CMC Markets impressively ranks at number four, while TopFX holds a less competitive position at 45, indicating a stronger overall satisfaction with CMC Markets’ offerings.
| Feature |
CMC Markets
|
TopFX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 73 | 30 |
| Charting - Drawing Tools (Total) | 36 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 11 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When choosing between CMC Markets and TopFX for mobile trading, both brokers offer compatible iPhone and Android apps, allowing traders the flexibility to trade on-the-go. They both provide stock and forex price alerts to keep users informed of market movements and offer drawing tools for chart analysis along with multiple time frame views. However, when it comes to syncing watchlist symbols across platforms, CMC Markets has the upper hand by offering seamless syncing with its client online accounts, a feature not available with TopFX. Furthermore, CMC Markets is rated five stars for its mobile trading experience, while TopFX receives four stars.
For traders interested in technical charting, both CMC Markets and TopFX provide a similar number of technical studies, 29 and 30 respectively, with capabilities to save chart drawings automatically. Real-time quotes with personalized watchlists are also available in both apps. Ultimately, CMC Markets holds a notable edge by being ranked #5 out of 63 brokers according to ForexBrokers.com, whereas TopFX is positioned at #51. This distinction highlights CMC Markets as a more highly regarded option for traders focused on mobile trading efficiency and seamless integration with their trading activities.
| Feature |
CMC Markets
|
TopFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 29 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When it comes to market research, CMC Markets stands out with its extensive offerings. They provide daily market commentary, allowing their users to stay informed about the latest trends. In addition, they supply forex news sourced from reputable providers such as Bloomberg and Reuters. Complementing this, CMC Markets offers advanced tools, including those from Autochartist, and features a sentiment-based trading tool to monitor market positions. Users also benefit from an economic calendar that highlights key global events. However, they lack resources like Trading Central's analytics and market insights from TipRanks and Acuity Trading. Still, CMC Markets earns a strong 5-star rating for research, ranking 6th among 63 brokers according to ForexBrokers.com.
TopFX, on the other hand, does not provide daily market commentary but does deliver forex news from top-tier sources. Similar to CMC Markets, they offer tools from Autochartist and a sentiment-based trading function. What sets TopFX apart is its access to Trading Central's analytics, enhancing their technical analysis capabilities. They too offer an economic calendar, but miss out on contributions from TipRanks and Acuity Trading. While TopFX has some solid offerings, their market research support is rated lower, with a 3-star rating and a rank of 60th out of 63 brokers by ForexBrokers.com.
| Feature |
CMC Markets
|
TopFX
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | No | |
| Signal Centre (Acuity Trading) | No | |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When exploring educational resources for beginners, CMC Markets clearly stands out in comparison to TopFX. CMC Markets offers a wide array of educational materials, including over ten articles, videos, and archived webinars focused on forex and CFDs, making it an excellent starting point for anyone new to trading. Additionally, CMC Markets provides a rich collection of beginner-friendly and advanced educational videos tailored to both new and more experienced traders. Their platform also includes a well-rounded investor dictionary that covers at least fifty investing terms, helping users grasp essential concepts. While CMC Markets doesn’t host monthly webinars, it compensates with a searchable archive of past webinars, granting clients easy access to a wealth of information.
In contrast, TopFX falls short in several aspects of educational support. While they do offer some resources, they lack the comprehensive depth found with CMC Markets. TopFX does not reach the same benchmark of educational articles or videos, nor do they provide archived webinars or a significant educational dictionary. This disparity is reflected in their educational offerings rating, where CMC Markets proudly holds five stars, whereas TopFX is rated at a more modest three stars. Furthermore, in a comparison of 63 brokers, CMC Markets is ranked at an impressive 10th place for education, while TopFX is positioned at a distant 61st. For beginners looking for a solid educational foundation, CMC Markets proves to be the more favorable option.
| Feature |
CMC Markets
|
TopFX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | No | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | 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 |
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| Trust Score | 99 | 67 |
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CMC Markets and TopFX both allow the purchase of cryptocurrency derivatives, though neither provides the option to buy actual delivered cryptocurrencies.
Comparing online brokers CMC Markets and TopFX reveals that both offer PayPal, Visa, Mastercard, and bank wire options for depositing and withdrawing funds, but CMC Markets uniquely provides ACH and SEPA transfers, while TopFX supports Skrill instead.
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.
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0 of 5| Overall Rating | CMC Markets | TopFX | |
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| Trust Score | 99 | 67 | |
| Winner | check_circle | ||
| Review | CMC Markets Review | TopFX Review |
| Broker Screenshots | CMC Markets | TopFX | |
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| 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/Central Bank 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. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | 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 | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | No | No | |
| 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 | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | CMC Markets | TopFX | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | No | Yes | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | CMC Markets | TopFX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 11 | 7 | |
| Charting - Indicators / Studies (Total) | 73 | 30 | |
| Charting - Drawing Tools (Total) | 36 | 15 | |
| 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 Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 29 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | CMC Markets | TopFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | ||
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | CMC Markets | TopFX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | No | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | CMC Markets | TopFX | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| Review | CMC Markets Review | TopFX Review |
| Overall | CMC Markets | TopFX | |
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| Trust Score | 99 | 67 | |
| Winner | check_circle | ||
| Review | CMC Markets Review | TopFX Review |
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