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 account | 1.3 | 1.03 |
| All-in Cost EUR/USD - Active | 0.65 | 0.88 |
| Non-wire bank transfer | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | |
| Skrill (Deposit/Withdraw) | No | |
| Bank Wire (Deposit/Withdraw) | Yes |
Dive deeper: Best Low Spread Forex Brokers.
CMC Markets vs TopFX: When it comes to range of investments, CMC Markets offers far more choice. You get 12,029 tradeable symbols at CMC Markets versus 655 at TopFX, along with 141 forex pairs compared with TopFX’s 60. According to ForexBrokers.com, CMC Markets earns 5 stars for Range of Investments and ranks 9th out of 63 brokers, while TopFX scores 3.5 stars and ranks 47th.
Both brokers support forex trading and offer copy trading, plus access to cryptocurrency CFDs (neither lets you buy actual crypto). A big difference is stock access: CMC Markets lets you buy exchange-traded shares in the U.S. and on international exchanges, while TopFX does not. If you want the widest market selection, including stocks and a larger list of forex pairs, CMC Markets is the stronger pick; if you mainly need core CFD markets with copy trading, TopFX can still fit the bill.
| 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 provide free demo (paper) accounts, Windows desktop and web-based platforms, copy trading, and the ability to place trades directly from charts. Both support MetaTrader 4 (MT4). CMC Markets also offers its own in-house platform and supports MetaTrader 5 (MT5), while TopFX does not have a proprietary platform and does not support MT5.
For trading platforms and tools, ForexBrokers.com rates CMC Markets 5 stars and ranks it #4 out of 63 brokers, while TopFX earns 4 stars and ranks #46 out of 63. Pick CMC Markets if you want an in-house platform plus MT5 alongside MT4. Pick TopFX if you’re focused on MT4, copy trading, and getting started quickly with a free demo on web or desktop.
| 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.
CMC Markets and TopFX both check the basics for mobile trading: each offers an iPhone and Android app, plus price alerts to keep you on top of market moves. Independent ratings favor CMC Markets, which earned 5 stars and ranks #5 out of 63 brokers for Mobile Trading Apps on ForexBrokers.com. TopFX also performs well with 4 stars, but its category ranking sits lower at #52 out of 63.
For tools, TopFX lists slightly more technical studies in its app (30) than CMC Markets (29). Both apps let you draw trendlines and automatically save your chart drawings, which is handy when switching screens. A key difference is watchlist syncing: CMC Markets syncs symbols between the mobile app and your online account, while TopFX does not. If seamless watchlists across devices matter to you, CMC Markets has the edge; if you want one more built-in indicator, TopFX gets the nod.
| 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 |
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 beginner traders comparing forex and CFD education, CMC Markets stands out. It offers a large video library with at least 10 beginner videos and at least 10 advanced videos, giving newcomers and growing traders plenty to watch and learn at their own pace. While CMC Markets does not host monthly educational webinars, its on-demand content is strong enough to earn a 5-star Education rating and a #10 ranking out of 63 brokers by ForexBrokers.com.
TopFX’s education is more limited for beginners. It lacks a monthly webinar schedule and does not provide at least 10 beginner or 10 advanced videos, which means fewer structured learning options for those just starting out. Reflecting this smaller library, TopFX holds a 3-star Education rating and ranks #62 out of 63 brokers. If you want a deeper catalog of beginner-friendly trading videos, CMC Markets is the more comprehensive choice.
| 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
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TopFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 67 |
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In the CMC Markets vs TopFX comparison, both online brokers do not allow buying actual (delivered) cryptocurrencies, but each does offer cryptocurrency trading via CFDs.
CMC Markets supports ACH/SEPA transfers, PayPal, and bank wire deposits and withdrawals (but not Skrill), while TopFX does not offer ACH/SEPA and its support for PayPal, Skrill, Visa/Mastercard, and bank wires is not specified.
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 (FSA 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 account | 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 | ||
| Skrill (Deposit/Withdraw) | No | ||
| Bank Wire (Deposit/Withdraw) | 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 | |
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| Trust Score | 99 | 67 | |
| Winner | check_circle | ||
| Review | CMC Markets Review | TopFX Review |
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