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 | 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.
FP Markets delivers a wider range of investments than TopFX, with roughly 10,000 tradeable symbols compared with TopFX’s 655. Forex traders get more choice at FP Markets too (71 currency pairs versus 60 at TopFX). Both brokers support forex trading via CFDs or spot. Neither broker offers direct, exchange-traded shares on U.S. or international stock exchanges, so you can’t buy companies like Apple or Vodafone outright; access is through derivatives instead.
Copy trading is available at both FP Markets and TopFX. Each also offers cryptocurrency derivatives, but not actual delivered crypto. Reflecting its broader product selection, FP Markets earns 4.5 out of 5 stars for Range of Investments and ranks 19th out of 63 brokers on ForexBrokers.com, while TopFX scores 3.5 stars and ranks 47th.
| 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.
FP Markets and TopFX both offer free demo (paper) trading, web and Windows desktop platforms, copy trading, and the ability to place trades directly from charts. Each supports MetaTrader 4 and provides seven fields for watch lists. FP Markets also delivers a proprietary in-house platform and supports MetaTrader 5, while TopFX does not have its own platform and does not offer MT5. For charting, FP Markets lists 17 drawing tools versus 15 at TopFX, and both include a range of common technical indicators.
Both brokers are rated 4 out of 5 stars for Trading Platforms and Tools, yet their standings differ: FP Markets ranks 23rd out of 63 brokers, while TopFX ranks 46th. If you want MT5 plus a proprietary platform in addition to MT4, FP Markets is the stronger fit. If you only need MT4 with copy trading and browser/desktop access, TopFX covers the essentials.
| 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.
FP Markets vs TopFX: Both brokers offer fully featured mobile trading apps for iPhone and Android and each earns a 4-star rating for mobile trading. According to ForexBrokers.com, FP Markets ranks #18 out of 63 in the Mobile Trading Apps category, while TopFX ranks #52. On both apps you can set price alerts, draw trendlines, switch between multiple time frames, and your chart drawings auto-save. You can also create watchlists with real-time quotes.
The main difference is in charting studies: FP Markets’ app relies on MetaTrader’s default set of indicators, while TopFX specifies 30 technical studies. A shared drawback is that watchlists in the mobile app do not sync with your online account, so edits made in one place won’t automatically appear in the other.
| 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.
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 | 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 | |
| Signal Centre (Acuity Trading) | No | |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
For beginners seeking forex and CFD education, FP Markets offers a clear advantage. It provides at least 10 learning pieces (articles, videos, and archived webinars), hosts client webinars at least once a month, and keeps a searchable library of past sessions. New traders can access 10+ beginner videos, while experienced learners have 10+ advanced videos to grow further. There’s also an investor dictionary with 50+ terms to simplify jargon. Reflecting this depth, FP Markets earns 4 out of 5 stars for Education and ranks #23 out of 63 brokers on ForexBrokers.com.
TopFX, by comparison, does not meet these education benchmarks: it does not provide a minimum of 10 forex/CFD learning pieces, does not run monthly educational webinars, and has no searchable webinar archive. It also falls short of the minimum 10 beginner and 10 advanced videos and lacks an investor dictionary with 50+ terms. As a result, TopFX holds a 3-star Education rating and ranks #62 out of 63 on ForexBrokers.com. If you want structured learning with videos, webinars, and a glossary, FP Markets is likely the easier place to start.
| 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 | 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/Central Bank 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. 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 | ||
| 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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