Written by ForexBrokers.com
In this head to head comparison of FP 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.
FP Markets, established in 2005, is an online broker that holds two Tier-1 licenses and one Tier-2 license, indicating a strong level of regulatory compliance. Although it is not publicly traded or a bank, FP Markets has achieved a Trust Score of 89 out of 99, placing it in the "trusted" category according to ForexBrokers.com. This high level of trustworthiness is further supported by its multiple high-quality licenses, offering clients peace of mind when trading.
TopFX, founded in 2010, is another online broker in the market, holding one Tier-1 license. Like FP Markets, it is neither publicly traded nor a bank. However, TopFX's Trust Score of 67 suggests a higher risk level relative to many competitors. Primarily due to its single Tier-1 regulatory license, its Trust Score places it in the "high risk" category, which might warrant consideration for traders seeking a brokerage with less regulatory assurance.
| Feature |
FP Markets
|
TopFX
|
|---|---|---|
| Year Founded | 2005 | 2010 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 1 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
When comparing FP Markets and TopFX, both brokers offer competitive pricing structures, particularly for their commission-based accounts. FP Markets delivers highly competitive pricing with its Raw ECN account, featuring spreads averaging 0.1 pips and a commission-based cost reaching 0.8 pips all-in. FP Markets triumphed as "Best in Class" for Commissions and Fees in the 2024 Annual Awards and is rated 5 stars, ranking sixth out of 63 brokers according to ForexBrokers.com. However, the Iress ViewPoint account can be more expensive, catering to active traders with substantial account balances.
TopFX provides two main account types: the commission-based RAW account and the spread-only ZERO account, both offered on MetaTrader and cTrader platforms. The RAW account includes a commission of 2.75 EUR per side, tallying 5.50 EUR per round-turn, with average spreads of 0.33 pips. This results in an all-in cost of approximately 0.88 pips, competitive within the industry standard. In contrast, the ZERO account eliminates commissions but has higher spreads, averaging 1.03 pips for EUR/USD during July 2024. With a 4-star rating, TopFX ranks 40th in the Commissions and Fees category among 63 brokers reviewed by ForexBrokers.com.
FP Markets stands out with its favorable cost structure, particularly for those selecting the Raw ECN account, while TopFX offers a balanced approach with options catering to different trading styles. Both brokers allow traders to choose between spread-only and commission-based structures, optimizing their trading strategies according to their financial goals. Despite TopFX's reasonable offering, FP Markets' stellar ranking and awards underscore its edge in offering competitive fees and commissions.
| Feature |
FP Markets
|
TopFX
|
|---|---|---|
| Minimum Deposit | $100 AUD | Depends on payment method |
| Average Spread EUR/USD - Standard | 1.2 | 1.03 |
| All-in Cost EUR/USD - Active | 0.7 | 0.88 |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | No | 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 it comes to the range of investments, FP Markets holds a significant advantage over TopFX. FP Markets provides access to an extensive selection of over 10,000 tradeable symbols, offering 71 forex pairs, giving investors diverse opportunities to explore. In comparison, TopFX delivers a smaller yet comprehensive package with 655 tradeable symbols and 60 forex pairs. Both brokers offer forex trading as both CFDs and spot contracts, and they provide the ability to trade cryptocurrency derivatives, although not the actual cryptocurrencies. Additionally, both FP Markets and TopFX offer copy trading, which can be beneficial for traders looking to replicate successful strategies.
Neither FP Markets nor TopFX facilitates trading of exchange-traded securities on U.S. or international exchanges, which might be a key consideration for those interested in buying shares directly. Despite these similarities, FP Markets stands out in independent rankings and is rated 4.5 out of 5 stars for its range of investments, securing the 18th spot out of 63 brokers according to ForexBrokers.com. Meanwhile, TopFX receives a 3.5-star rating and is positioned at 46th in the same category, indicating FP Markets’ broader appeal to those seeking a more extensive range of trading options.
| Feature |
FP Markets
|
TopFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 10000 | 655 |
| Forex Pairs (Total) | 71 | 60 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | 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 FP Markets and TopFX, both brokers offer various trading platforms and tools tailored to meet traders' needs. FP Markets stands out by providing a proprietary platform, allowing them to offer a unique trading experience customized in-house. On the other hand, TopFX does not have a proprietary platform. Both brokers support MetaTrader 4, but FP Markets also offers MetaTrader 5, adding flexibility for its users, which TopFX lacks in this aspect. Both brokers offer web-based platforms and Windows-based desktop trading options, alongside the provision of free virtual demo accounts for simulated trading.
Both FP Markets and TopFX allow copy trading and enable direct trading from stock charts, showing their attention to diverse trading styles. In terms of charting tools, FP Markets provides 17 drawing tools compared to TopFX's 15. Watch lists are equally feature-rich between the two, with each offering seven columns for fields. Despite being similarly rated with 4 stars for platforms and tools, FP Markets notably ranks higher with ForexBrokers.com, taking the 23rd spot out of 63 brokers, while TopFX is positioned at 45th. This comparison highlights FP Markets’ slight edge in diversifying platform options and charting tools, although both brokers remain competitive in the trading platform arena.
| Feature |
FP 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) | 30 | 30 |
| Charting - Drawing Tools (Total) | 17 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps offered by FP Markets and TopFX, both brokers provide applications for iPhone and Android devices. They also facilitate vital features like stock and forex price alerts, trendline drawing, multiple time frame viewing, and real-time watchlist creation. However, neither offers watchlist symbol syncing, which means changes made on a mobile device don't automatically update online accounts and vice versa. In the area of technical studies, FP Markets relies on the default offerings of MetaTrader, while TopFX supports 30 different technical studies in its app.
Both brokers' apps can automatically save drawings on stock or forex charts, adding to user convenience. In terms of ratings, FP Markets and TopFX both have a solid 4-star rating for their mobile trading apps. However, FP Markets takes a lead in the rankings by ForexBrokers.com, positioned at #18 out of 63 brokers, compared to TopFX's #51 spot. This suggests FP Markets may offer a slightly better overall user experience for mobile traders.
| Feature |
FP Markets
|
TopFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | MetaTrader (Default) | 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 comparing the market research offerings of FP Markets and TopFX, investors will find several key differences. FP Markets provides daily market commentary, which TopFX does not. Both brokers deliver forex news from top-tier sources like Bloomberg, Reuters, and Dow Jones, ensuring traders stay informed with the latest developments. Each broker also offers technical analysis tools from Autochartist and Trading Central, along with sentiment-based trading tools that display ratios of long and short positions for various instruments, helping traders refine their strategies.
FP Markets and TopFX both offer an economic calendar to keep traders abreast of global news events, but neither provides research tools from Acuity Trading or market research from TipRanks. Despite many similarities, FP Markets excels in its overall research offerings, receiving a 4-star rating compared to TopFX's 3 stars. Furthermore, FP Markets stands higher in research rankings, holding the 25th position out of 63 brokers as evaluated by ForexBrokers.com, while TopFX is positioned at 60th place.
| Feature |
FP Markets
|
TopFX
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | Yes | 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 it comes to educational resources for beginners, FP Markets clearly stands out as a more accommodating choice compared to TopFX. FP Markets provides over 10 educational pieces focused on forex and CFDs, and regularly hosts online webinars, ensuring clients have ample learning opportunities with updated content. Additionally, FP Markets features a searchable archive of past webinars, allowing beginners to revisit past sessions at their convenience. In terms of video content, FP Markets impressively offers over 10 beginner-specific educational videos along with advanced topics for more experienced traders. To assist newcomers in navigating trading jargon, FP Markets also provides a comprehensive investor dictionary with over 50 defined terms. In contrast, TopFX does not meet these educational benchmarks, limiting its range of resources for those just starting out.
FP Markets boasts a solid education rating, receiving 4 out of 5 stars, which is significantly higher than TopFX's rating of 3 stars. Furthermore, when ranked among 63 brokers by ForexBrokers.com for education, FP Markets secures the #23 spot, indicating a stronger emphasis on educational offerings. TopFX, however, languishes near the bottom at #61. With its extensive range of beginner-friendly resources and high client ratings, FP Markets emerges as the preferred broker for beginners seeking substantial learning tools to guide them on their trading journey.
| Feature |
FP Markets
|
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 FP Markets is better than TopFX. FP Markets finished with an overall rank of #19, while TopFX finished with an overall rank of #62.
FP Markets shines as a low-cost broker for trading forex and CFDs – as long as you use the MetaTrader platform. The Iress platform suite offers well over 9,000 tradeable symbols, but it’s mostly a share trading platform – and is generally a much pricier option.
| Feature |
FP Markets
|
TopFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 89 | 67 |
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Both FP Markets and TopFX allow users to invest in cryptocurrency derivatives but do not offer options for purchasing actual (delivered) cryptocurrencies.
Both FP Markets and TopFX offer PayPal, Skrill, Visa or Mastercard, and bank wires as options for depositing or withdrawing account funds, but neither supports ACH or SEPA transfers.
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 | FP Markets | TopFX | |
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| Trust Score | 89 | 67 | |
| Winner | check_circle | ||
| Review | FP Markets Review | TopFX Review |
| Broker Screenshots | FP Markets | TopFX | |
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| Regulation | FP Markets | TopFX | |
|---|---|---|---|
| Trust Score | 89 | 67 | |
| Year Founded | 2005 | 2010 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 2 | 1 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | FP Markets | 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) | No | 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) | FP Markets | TopFX | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | FP Markets | TopFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 10000 | 655 | |
| Forex Pairs (Total) | 71 | 60 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | 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 | FP Markets | TopFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.2 | 1.03 | |
| All-in Cost EUR/USD - Active | 0.7 | 0.88 | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | FP Markets | TopFX | |
|---|---|---|---|
| Minimum Deposit | $100 AUD | 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 | No | No |
| Trading Platforms | FP 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 | Yes | Yes | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | FP Markets | TopFX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 7 | |
| Charting - Indicators / Studies (Total) | 30 | 30 | |
| Charting - Drawing Tools (Total) | 17 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | FP Markets | TopFX | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | MetaTrader (Default) | 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 | FP Markets | TopFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | FP Markets | 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 | FP 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 | FP Markets Review | TopFX Review |
| Overall | FP Markets | TopFX | |
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| Trust Score | 89 | 67 | |
| Winner | check_circle | ||
| Review | FP Markets Review | TopFX Review |
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