Written by ForexBrokers.com
In this head to head comparison of eToro 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.
eToro, founded in 2007, is a globally recognized online broker that holds a strong reputation in the trading world. It is a publicly traded company, a factor that often adds to its credibility. With three Tier-1 licenses, eToro is highly trusted and boasts an impressive Trust Score of 96, as rated by ForexBrokers.com. This score places it in the top range of reliability for online brokers, making it an attractive choice for traders seeking reassurance around security and regulatory oversight.
By contrast, TopFX, established in 2010, isn’t listed on a stock exchange but still offers a competitive trading environment. Holding one Tier-1 license, TopFX falls into the high-risk category with a Trust Score of 67 according to ForexBrokers.com. While it doesn't match eToro in regulatory standings, it continues to serve clients with its own strengths. Both platforms aren't banks, focusing solely on brokerage services, and appeal to different trader needs based on their regulatory profiles and company structures.
| Feature |
eToro
|
TopFX
|
|---|---|---|
| Year Founded | 2007 | 2010 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 3 | 1 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
When comparing eToro and TopFX in terms of commissions and fees, both brokers offer different structures that cater to distinct trading needs. eToro, a market-maker broker, provides a variable spread of 1 pip on the EUR/USD, which is slightly above the industry average. While retail traders may not find eToro's spreads the most competitive, the broker's social copy trading platform is a notable draw. Furthermore, eToro offers a VIP Club with five tiers, ranging from Silver to Diamond, for traders with balances between $5,000 and $250,000. These tiers offer various perks, such as access to Trading Central, reduced withdrawal and deposit fees, and a personal account manager.
Conversely, TopFX presents two account types tailored through popular platforms like MetaTrader and cTrader: the spread-only ZERO account and the commission-based RAW account. The RAW account incurs a commission of 2.75 EUR per side (5.50 EUR per round turn), with average spreads of 0.33 pips for EUR/USD during July 2024. This results in all-in costs of about 0.88 pips, aligning well with the industry norms. The ZERO account, while commission-free, has higher average spreads of 1.03 pips for the same period. Each of these accounts offers options depending on a trader's preferred strategy—either lower commissions with RAW or a simple spread with ZERO.
In terms of ratings and rankings, eToro receives a commendable 4.5 stars for its commissions and fees, landing it at 22nd out of 63 brokers assessed by ForexBrokers.com. Meanwhile, TopFX is rated 4 stars, placing it at 40th in the same category. These assessments reflect the brokers’ competitive offerings in relation to their respective strengths and service provisions.
| Feature |
eToro
|
TopFX
|
|---|---|---|
| Minimum Deposit | $50-$10,000 | Depends on payment method |
| Average Spread EUR/USD - Standard | 1 | 1.03 |
| All-in Cost EUR/USD - Active | N/A | 0.88 |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing eToro and TopFX, it's clear that both brokers offer forex trading as CFDs or spot contracts. However, eToro shines with an impressive 5461 tradeable symbols against TopFX's 655. Forex traders might find TopFX slightly more favorable with 60 tradeable forex pairs compared to eToro's 55. Yet, eToro offers a wider range of investment types, providing access to exchange-traded securities from both U.S. and international markets, something TopFX doesn't offer. eToro also allows clients to buy actual cryptocurrencies in addition to cryptocurrency derivatives, while TopFX only offers cryptocurrency derivatives.
In terms of user-friendly features like copy trading, both platforms score well, with eToro excelling further in the overall range of investments. eToro boasts a 5-star rating, ranking 10th out of 63 brokers for its investment options. In contrast, TopFX is rated 3.5 stars, coming in at the 46th position. This comparison highlights eToro's commitment to providing a comprehensive investment experience, making it an appealing choice for those seeking variety and accessibility in their trading journey.
| Feature |
eToro
|
TopFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 5461 | 655 |
| Forex Pairs (Total) | 55 | 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) | Yes | 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 eToro and TopFX in terms of trading platforms and tools, each brings distinct offerings to the table. eToro stands out with its proprietary platform, enabling users to experience a unique, in-house developed trading experience. Both eToro and TopFX provide the valuable feature of simulated trading through virtual demo accounts, giving traders an opportunity to practice before investing real money. While eToro does not offer a Windows-based desktop platform, TopFX does, catering to those who prefer software downloads. Both brokers provide web-based platforms for accessible trading via a browser. eToro's platform is well-regarded for its innovative approach, even though it does not support the popular MetaTrader 4 or 5, which TopFX does offer, albeit only MT4.
eToro excels in offering diverse charting features, providing 161 drawing tools to cater to detailed analysis, surpassing TopFX's 15 tools. However, TopFX ensures flexibility by offering the ability to trade directly from stock charts, a feature eToro lacks. Both platforms support copy trading, enhancing social trading experiences. In terms of organization, TopFX offers one more column field for watch lists compared to eToro. Performance ratings also reflect eToro's strengths, with it achieving a commendable 4.5-star rating and ranking 8th out of 63 brokers according to ForexBrokers.com. In contrast, TopFX holds a 4-star rating, ranking 45th. This clear distinction underscores eToro's higher user satisfaction and ranking in trading platforms and tools.
| Feature |
eToro
|
TopFX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | No | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 104 | 30 |
| Charting - Drawing Tools (Total) | 161 | 15 |
| Charting - Trade From Chart | No | Yes |
| Watchlists - Total Fields | 6 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When it comes to mobile trading, both eToro and TopFX offer iPhone and Android apps, providing a convenient way for traders to manage their investments on the go. Both platforms support stock and forex price alerts, as well as the ability to create watchlists with real-time quotes. However, eToro takes the lead with watchlist syncing capabilities, allowing seamless updates between mobile and online accounts. For those who rely heavily on chart analysis, eToro offers a standout feature with its 104 technical studies, compared to TopFX's 30, providing more tools for detailed technical analysis.
TopFX, on the other hand, caters to traders who need to draw trendlines on charts, a feature not available on eToro’s mobile app. Additionally, TopFX automatically saves these chart drawings, unlike eToro. Both brokers allow viewing multiple time frames for charts, ensuring flexibility in analysis. In terms of user ratings, eToro scores higher with a 4.5-star rating for its mobile trading app compared to TopFX's 4 stars. This difference in user satisfaction is further emphasized by eToro's higher ranking of #10 out of 63 brokers on ForexBrokers.com, while TopFX holds the #51 position.
| Feature |
eToro
|
TopFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 104 | 30 |
| Mobile Charting - Draw Trendlines | No | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | No | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When it comes to market research, eToro and TopFX offer different advantages, catering to diverse trading preferences. eToro shines with its daily market commentary, providing traders with timely insights into daily fluctuations. On the other hand, TopFX distinguishes itself by offering forex news from top-tier sources such as Bloomberg and Reuters, keeping traders informed with high-quality updates. Both platforms support Trading Central's analytical tools and sentiment-based trading tools, allowing for comprehensive market analysis. However, only eToro benefits from market research tools provided by TipRanks, enhancing its research capabilities with additional insights. Both eToro and TopFX include economic calendars, helping traders stay updated on important global economic events.
In terms of overall research effectiveness, eToro is rated higher, earning 4.5 stars compared to TopFX's 3 stars. This superior rating reflects eToro's strong investment in research tools and resources, which contributes to its higher ranking of 13th among 63 brokers in the research category. Conversely, TopFX is positioned at 60th, indicating room for improvement. These differences highlight how each platform approaches market research, enabling traders to select the broker that best aligns with their research needs and trading strategies.
| Feature |
eToro
|
TopFX
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | No | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | Yes | Yes |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | Yes | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational resources for beginners between online brokers eToro and TopFX, eToro clearly stands out as a more comprehensive choice. eToro offers a rich collection of educational materials specifically focusing on forex and CFDs, exceeding the minimum requirement with over 10 pieces, such as articles and videos. Additionally, it provides regular online educational webinars, ensuring at least one per month, and maintains a searchable archive of past webinars. For those just starting in trading, eToro also delivers a robust selection of beginner videos, comprising more than 10 tailored tutorials. TopFX, on the other hand, does not offer the same depth of resources for forex and CFDs education and lacks the consistent educational engagement found with eToro.
Furthermore, eToro includes advanced educational videos for seasoned traders and an extensive investor dictionary featuring definitions of over 50 investing terms. In direct contrast, TopFX does not offer advanced educational video content or a detailed investor dictionary. These factors contribute to eToro's superior educational rating of 4.5 stars compared to TopFX's 3 stars. Among 63 brokers indexed by ForexBrokers.com, eToro holds an impressive 5th place in the education category, while TopFX is positioned much lower at 61st. This ranking reflects eToro's commitment to empowering its users with knowledge, making it a preferable option for beginners eager to learn and grow in trading.
| Feature |
eToro
|
TopFX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | Yes | 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 eToro is better than TopFX. eToro finished with an overall rank of #9, while TopFX finished with an overall rank of #62.
eToro is a winner for its easy-to-use copy-trading platform, where traders can copy the trades of experienced investors – or receive exclusive perks for sharing their own trading strategies.
| Feature |
eToro
|
TopFX
|
|---|---|---|
| Overall Rating |
|
|
| Trust Score | 96 | 67 |
| Range of Investments |
|
|
| Commissions & Fees |
|
|
| Platforms & Tools |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
eToro allows investors to purchase actual cryptocurrencies, while both eToro and TopFX provide options for trading cryptocurrency derivatives.
When comparing eToro and TopFX for online trading, eToro stands out by offering ACH and SEPA transfers for depositing and withdrawing funds, which TopFX does not, while both platforms support PayPal, Skrill, Visa, Mastercard, and bank wire transactions.
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 | eToro | TopFX | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 96 | 67 | |
| Winner | check_circle | ||
| Review | eToro Review | TopFX Review |
| Broker Screenshots | eToro | TopFX | |
|---|---|---|---|
| Trading Platforms Gallery (click to expand) |
|
| |
| Mobile Trading Gallery (click to expand) |
|
| |
| Research Gallery (click to expand) |
|
| |
| Education Gallery (click to expand) |
|
|
| Regulation | eToro | TopFX | |
|---|---|---|---|
| Trust Score | 96 | 67 | |
| Year Founded | 2007 | 2010 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 3 | 1 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | eToro | TopFX | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | eToro | TopFX | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | eToro | TopFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 5461 | 655 | |
| Forex Pairs (Total) | 55 | 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) | Yes | 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 | eToro | TopFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1 | 1.03 | |
| All-in Cost EUR/USD - Active | N/A | 0.88 | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | eToro | TopFX | |
|---|---|---|---|
| Minimum Deposit | $50-$10,000 | Depends on payment method | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | eToro | TopFX | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | No | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | Yes | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | eToro | TopFX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 6 | 7 | |
| Charting - Indicators / Studies (Total) | 104 | 30 | |
| Charting - Drawing Tools (Total) | 161 | 15 | |
| Charting - Trade From Chart | No | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | eToro | 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 | 104 | 30 | |
| Mobile Charting - Draw Trendlines | No | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | No | Yes | |
| Mobile Economic Calendar | No | Yes |
| Research | eToro | TopFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | No | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | eToro | TopFX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | Yes | 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 | eToro | 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 | eToro Review | TopFX Review |
| Overall | eToro | TopFX | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 96 | 67 | |
| Winner | check_circle | ||
| Review | eToro Review | TopFX Review |
IG
CMC Markets
FOREX.com
XTB
eToro
AvaTrade
Plus500
Pepperstone
FP Markets
Tickmill