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 | 2 | 1 |
Comparing commissions and fees, FP Markets is the cheaper pick for active forex traders, while TopFX sits closer to the industry average. FP Markets holds a 5/5 star rating and ranks #6 of 63 for Commissions and Fees (ForexBrokers.com), versus TopFX at 4/5 stars and #41 of 63. FP Markets also earned “Best in Class” for Commissions and Fees in the 2024 ForexBrokers.com Annual Awards.
FP Markets offers Standard (spread-only) and Raw ECN (commission-based) accounts across MetaTrader and cTrader. On the Raw ECN account, average EUR/USD spreads were about 0.1 pips (October 2023), translating to roughly 0.8 pips all-in after the $6 per round-turn commission per standard lot. The Standard account averaged 1.1 pips on EUR/USD, making it the pricier choice. For share CFDs, the Iress suite provides Direct Market Access with full depth-of-book; ViewPoint tiers carry monthly platform/data fees unless you qualify for Premier or generate at least AUD 150 in monthly commissions, while the lower-cost Iress Investor waives monthly fees but has pared-back tools and non-streaming quotes by default.
TopFX offers two choices on MetaTrader and cTrader: the ZERO account (spread-only) and the RAW account (commission-based). The RAW account charges 2.75 EUR per side (5.50 EUR round turn) and, based on July 2024 data, averaged 0.33 pips on EUR/USD; adding the commission (about 0.55 pips) brings the all-in cost to roughly 0.88 pips. The ZERO account is commission-free but showed higher average spreads of 1.03 pips on EUR/USD for July 2024. Minimum deposit varies by payment method.
| Feature |
FP Markets
|
TopFX
|
|---|---|---|
| Minimum Deposit | $100 AUD | Depends on payment method |
| Average spread (EUR/USD) - Standard account | 1.2 | 1.03 |
| All-in Cost EUR/USD - Active | 0.7 | 0.88 |
| Non-wire bank transfer | No | No |
| PayPal (Deposit/Withdraw) | Yes | |
| Skrill (Deposit/Withdraw) | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes |
Dive deeper: Best Low Spread Forex Brokers.
FP Markets stands out for range of investments, listing about 10,000 tradeable symbols compared with 655 at TopFX. Forex traders also get a wider choice at FP Markets, with 71 currency pairs versus 60 at TopFX. Both brokers support forex trading (CFD or spot), offer copy trading, and let you speculate on cryptocurrencies via CFDs. Neither broker provides access to actual, delivered crypto or to exchange-traded shares on U.S. or international stock exchanges.
In independent reviews, FP Markets earns 4.5 out of 5 stars for Range of Investments and ranks 19th out of 63 brokers at ForexBrokers.com, while TopFX scores 3.5 stars and ranks 47th. If you want the broadest symbol list and more forex pairs, FP Markets is the stronger fit; if your needs are simpler, TopFX may cover the basics.
| Feature |
FP Markets
|
TopFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 10000 | 655 |
| Forex Pairs (Total) | 71 | 60 |
| U.S. Stocks (Shares) | No | No |
| Global Stocks (Non-U.S. Shares) | No | 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.
FP Markets and TopFX both cover the essentials for platform access and tools. Each broker offers a free demo account for paper trading, a Windows-based desktop platform, a web (browser) platform, copy trading, and the ability to place trades directly from charts. Where they differ is platform choice: FP Markets also provides its own proprietary platform and supports both MetaTrader 4 (MT4) and MetaTrader 5 (MT5), while TopFX sticks to third-party platforms and offers MT4 but not MT5.
In independent reviews of trading platforms and tools, both brokers earn 4 out of 5 stars; however, FP Markets places higher overall, ranking 23rd out of 63 brokers compared with TopFX at 46th. If you want MT5 and the option to use a broker-built platform, FP Markets has the edge. If you’re committed to MT4 and don’t need an in-house platform, TopFX can fit the bill while still covering key features like demo trading, web and desktop access, and chart-based order entry.
| Feature |
FP 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) | 30 | 30 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
FP Markets vs TopFX for mobile trading apps: both offer iPhone and Android apps and both support price alerts. Each earns 4 stars for Mobile Trading Apps from ForexBrokers.com, yet FP Markets ranks higher (#18 of 63) than TopFX (#52 of 63). Note that neither app syncs watchlists between mobile and your online account, so edits on one device won’t carry over to the other.
For charting, FP Markets uses MetaTrader’s default set of technical studies, while TopFX lists 30 technical studies. Both apps let you draw trendlines and auto-save your drawings. Choose FP Markets if you want a higher-ranked mobile experience with a MetaTrader-centered setup; pick TopFX if the promise of 30 built-in studies matters more to you.
| Feature |
FP Markets
|
TopFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | No | No |
| Mobile Charting - Indicators / Studies | MetaTrader (Default) | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Comparing market research at FP Markets and TopFX, FP Markets has the edge thanks to daily market commentary, which TopFX does not provide. Both brokers deliver forex news from top-tier sources like Bloomberg, Reuters, or Dow Jones, and both include popular research tools from Autochartist and Trading Central. Each broker also offers a sentiment tool showing long/short positioning and an economic calendar. FP Markets does not offer TipRanks or Acuity Trading (Signal Centre). For TopFX, availability of TipRanks and Acuity Trading isn’t specified.
If you want frequent, in-house insights to guide your trading day, FP Markets is the stronger pick. It earns 4 stars for Research and ranks #25 out of 63 brokers by ForexBrokers.com, while TopFX earns 3 stars and ranks #61. TopFX covers the essentials—news, analysis tools, sentiment, and calendar—but lacks daily commentary that many traders find helpful.
| Feature |
FP Markets
|
TopFX
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | No |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central | Yes | 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 FP Markets and TopFX on education, FP Markets stands out. It runs client webinars at least once per month and offers a sizeable library with 10 or more beginner-friendly videos, making it easier to learn core forex and CFD concepts step by step. By contrast, TopFX does not host monthly educational webinars and does not meet the 10-video threshold for beginner topics.
FP Markets also provides 10 or more advanced trading videos for when you’re ready to go deeper, while TopFX falls short on that front. Reflecting these differences, ForexBrokers.com rates FP Markets 4 stars for Education and ranks it 23rd out of 63 brokers, whereas TopFX earns 3 stars and ranks 62nd. If education is a priority for starting out in forex and CFD trading, FP Markets offers a more complete path from beginner to advanced learning than TopFX.
| Feature |
FP Markets
|
TopFX
|
|---|---|---|
| Webinars | Yes | 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 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
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TopFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 89 | 67 |
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FP Markets vs TopFX: neither online broker lets you buy actual (delivered) cryptocurrencies, but both support trading cryptocurrency CFDs.
Comparing payment methods for online brokers FP Markets vs TopFX: both do not support ACH/SEPA; FP Markets supports PayPal, Skrill, and bank wires, while TopFX options for PayPal, Skrill, and bank wires are not specified, and Visa/Mastercard availability is not specified for either.
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 | 2 | 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) | |||
| 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) | |||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA, FSRA, or SCA Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | FP Markets | TopFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 10000 | 655 | |
| Forex Pairs (Total) | 71 | 60 | |
| U.S. Stocks (Shares) | No | No | |
| Global Stocks (Non-U.S. Shares) | No | 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 | FP Markets | TopFX | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 1.2 | 1.03 | |
| All-in Cost EUR/USD - Active | 0.7 | 0.88 | |
| Inactivity Fee | No | No | |
| Order execution: Agency | No | No | |
| Order execution: Market Maker | Yes | Yes |
| Funding | FP Markets | TopFX | |
|---|---|---|---|
| Minimum Deposit | $100 AUD | Depends on payment method | |
| PayPal (Deposit/Withdraw) | Yes | ||
| Skrill (Deposit/Withdraw) | Yes | ||
| Bank Wire (Deposit/Withdraw) | Yes | ||
| Non-wire bank transfer | No | No |
| Trading Platforms | FP 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 | Yes | Yes |
| Trading Tools | FP Markets | TopFX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 30 | 30 | |
| 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 Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | No | No | |
| Mobile Charting - Indicators / Studies | MetaTrader (Default) | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | FP Markets | TopFX | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central | Yes | Yes | |
| TipRanks | No | ||
| Client sentiment data | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | FP Markets | TopFX | |
|---|---|---|---|
| Webinars | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | Yes | No |
| Major Forex Pairs | FP 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 | 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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