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.
CMC Markets, established in 1989, is a well-trusted online broker. It holds a high Trust Score of 99 out of 99, as rated by ForexBrokers.com, indicating it is regarded as highly trustworthy. CMC Markets is publicly traded, adding another layer of transparency, and is licensed by five top-tier regulatory agencies. This strong regulatory framework offers potential investors and traders significant peace of mind, despite the fact that it is not a bank.
On the other hand, TopFX, founded in 2010, operates with a more moderate profile. It boasts a Trust Score of 67, suggesting a high-risk rating according to ForexBrokers.com. Unlike CMC Markets, TopFX is not listed on a stock exchange, operating instead as a private entity. It maintains only one top-tier license with no additional mid-level licenses, potentially raising concerns for those who prioritize regulatory backing and public accountability. Both brokers are not affiliated with any banking establishments, but the difference in their regulatory standings and trust scores provides a clear choice for those seeking a secure trading environment.
| Feature |
CMC Markets
|
TopFX
|
|---|---|---|
| Year Founded | 1989 | 2010 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 5 | 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 | 0.61 | 1.03 |
| All-in Cost EUR/USD - Active | 0.51 | 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, CMC Markets offers a significantly broader range of investments, providing 11,925 tradeable symbols compared to TopFX’s 655. Both platforms support forex trading through CFDs or spot contracts, but CMC Markets stands out with 156 tradeable forex pairs versus TopFX's 60. Additionally, CMC Markets provides more options for those looking to invest in traditional exchange-traded securities, allowing users to purchase shares on U.S. and international exchanges. This feature is not available with TopFX. Although each broker enables copy trading and offers cryptocurrency derivatives, neither allows the purchase of actual cryptocurrencies.
In terms of investment range ratings and rankings, CMC Markets shines with a 5-star rating for its range of investments, securing the 9th spot among 63 brokers listed by ForexBrokers.com. In contrast, TopFX has a 3.5-star rating, placing it at 46th in the same ranking. This highlights CMC Markets as the more versatile choice for investors seeking a wider array of trading opportunities, particularly in traditional and international markets.
| Feature |
CMC Markets
|
TopFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 11925 | 655 |
| Forex Pairs (Total) | 156 | 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 their trading platforms and tools, traders can expect a quality experience from both. CMC Markets offers a variety of trading options, including a proprietary platform, which provides a unique experience developed in-house. Both CMC Markets and TopFX offer paper trading with free virtual demo accounts, making it easy for beginners to practice. Each broker supports MetaTrader 4, while only CMC Markets supports MetaTrader 5, giving it an edge for those who prefer the latest version. Both brokers have web-based and Windows desktop download platforms, ensuring that users have versatile access options. For social trading enthusiasts, both brokers provide copy trading capabilities.
Charting tools also differ between the two, with CMC Markets offering 40 drawing tools compared to TopFX's 15, giving more versatility to CMC Markets users who rely heavily on technical analysis. Furthermore, CMC Markets provides 11 fields for watch lists, surpassing TopFX’s 7, making it easier to organize and track important data points. Both brokers allow trading directly from stock charts, enhancing user convenience. As a testament to its advanced offerings, CMC Markets earns a 5-star rating for trading platforms and tools, ranking fourth out of 63 brokers on ForexBrokers.com, whereas TopFX receives a commendable 4-star rating and ranks 45th.
| 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) | 79 | 30 |
| Charting - Drawing Tools (Total) | 40 | 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 considering market research capabilities, CMC Markets and TopFX offer varying levels of service. CMC Markets stands out with daily market commentary and forex news from top-tier sources such as Bloomberg and Reuters, providing traders with up-to-date insights. In contrast, TopFX does not offer daily commentary but still delivers news from premier sources similar to CMC. Autochartist tools for technical and fundamental analysis are available with both brokers, enabling traders to conduct detailed research. However, while TopFX provides the advantage of Trading Central tools, CMC Markets lacks this feature. Both brokers do offer sentiment-based trading tools and comprehensive economic calendars to aid traders in making informed decisions.
Despite these offerings, the overall research experience differs significantly between the two. CMC Markets has earned a stellar 5-star rating for its research facilities, placing it at number six among 63 brokers as ranked by ForexBrokers.com. This high rank reflects the comprehensive and accessible market research CMC offers. On the other hand, TopFX receives a more modest 3-star rating in the research category with a rank of 60, suggesting that while they do provide some resources, they may not be as extensive or user-friendly as those provided by CMC Markets. Ultimately, traders looking for a richer array of research tools and commentary may find CMC Markets to be the more suitable choice.
| 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 | No |
| Signal Centre (Acuity Trading) | No | 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 | |
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| Review | CMC Markets Review | TopFX Review |
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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 | 5 | 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) | No | No | |
| 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) | No | No | |
| 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) | No | No |
| Investments | CMC Markets | TopFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 11925 | 655 | |
| Forex Pairs (Total) | 156 | 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 | 0.61 | 1.03 | |
| All-in Cost EUR/USD - Active | 0.51 | 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) | 79 | 30 | |
| Charting - Drawing Tools (Total) | 40 | 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 | 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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