Written by ForexBrokers.com
In this head to head comparison of FXOpen 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.
FXOpen, established in 2003, boasts a solid reputation in the online brokerage landscape with a ForexBrokers.com Trust Score of 76, indicating an average risk level. Although not publicly traded or a bank, FXOpen holds two Tier-1 licenses, which signifies a high level of trust in regulatory terms. These licenses assure clients of a more secure environment for trading activities, aligning with the broker's commitment to maintaining transparency and reliability.
Founded in 2010, TopFX achieves a ForexBrokers.com Trust Score of 67, placing it in the high-risk category. While it shares similarities with FXOpen in not being publicly traded or functioning as a bank, TopFX holds one Tier-1 license. This demonstrates a significant yet lesser degree of trusted regulatory oversight in comparison to FXOpen. Both brokers offer unique experiences, but FXOpen's additional Tier-1 license provides potential customers with an added layer of confidence in their trading journey.
| Feature |
FXOpen
|
TopFX
|
|---|---|---|
| Year Founded | 2003 | 2010 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 1 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
When evaluating online brokers for trading costs, both FXOpen and TopFX present attractive options, each earning a solid 4-star rating for their commissions and fees. FXOpen, ranked #44 out of 63 brokers by ForexBrokers.com, does not provide specific average spread data, making a direct cost comparison with TopFX a bit challenging. However, its competitive fee structure still makes it a popular choice among traders.
In contrast, TopFX offers two distinct account types: the spread-only ZERO account and the commission-based RAW account, both available on MetaTrader and cTrader. The RAW account incurs a commission of 2.75 EUR per side (5.50 EUR per round turn standard lot). For the EUR/USD pair, based on July 2024 data, this results in an all-in cost of roughly 0.88 pips when considering the average spread of 0.33 pips and the commission equivalent of 0.55 pips per round-turn. This is comparable to the industry's average. The ZERO account, while commission-free, features higher average spreads of 1.03 pips for the same currency pair, making it suitable for those who prefer to avoid separate commission charges.
TopFX holds a slightly higher rank at #40 in the Commissions and Fees category, according to ForexBrokers.com. Both brokers cater to various trading preferences with their unique fee structures, allowing traders to select an account type that best suits their trading strategy and budget.
| Feature |
FXOpen
|
TopFX
|
|---|---|---|
| Minimum Deposit | $100 | Depends on payment method |
| Average Spread EUR/USD - Standard | N/A | 1.03 |
| All-in Cost EUR/USD - Active | N/A | 0.88 |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | No | 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 FXOpen and TopFX in terms of investment options, both brokers provide online platforms that allow for forex trading through CFDs or spot contracts. However, TopFX stands out with a broader selection by offering 655 tradeable symbols in contrast to FXOpen's 87, including a wider array of forex pairs—60 as opposed to FXOpen's 25. Despite this range, neither FXOpen nor TopFX supports direct purchases of exchange-traded securities on U.S. or international stock exchanges, and both brokers focus their cryptocurrency offerings on derivatives, not direct purchases.
For those interested in social trading, both platforms support copy trading, letting users replicate the trades of more experienced investors. In ForexBrokers.com's rankings, TopFX is ahead of FXOpen for Range of Investments, earning a slightly higher rating of 3.5 stars compared to FXOpen’s 3 stars, and ranking 46th out of 63 brokers, a significant leap from FXOpen's 62nd position. This ranking suggests that TopFX may provide a more varied investment landscape, albeit marginally, which could be appealing for investors seeking a more comprehensive range of trading opportunities.
| Feature |
FXOpen
|
TopFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 87 | 655 |
| Forex Pairs (Total) | 25 | 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). |
Dive deeper: Best Copy Trading Platforms.
When comparing the trading platforms and tools offered by FXOpen and TopFX, both brokers provide access to virtual demo accounts, enabling users to practice trading with simulated funds. Neither broker offers proprietary platforms, but they both support MetaTrader 4 (MT4), feature Windows-based desktop and web-based platforms, and facilitate direct trading from stock charts. However, FXOpen edges ahead by offering MetaTrader 5 (MT5) and ZuluTrade, whereas TopFX does not support these options. Both brokers offer identical functionality regarding drawing tools for charting, with 15 tools each, and their watch lists contain seven fields for customization.
In terms of user ratings, both FXOpen and TopFX receive a commendable rating of four stars for their Trading Platforms and Tools. Despite this shared rating, TopFX ranks slightly higher, placing 45th out of 63 brokers on ForexBrokers.com in this category, compared to FXOpen's rank of 53. This subtle difference could influence a trader's choice, depending on the specific requirements and preferences in features like MT5 and trading community options like ZuluTrade, which are available with FXOpen but not with TopFX.
| Feature |
FXOpen
|
TopFX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | No | 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 | Yes | No |
| Charting - Indicators / Studies (Total) | 30 | 30 |
| Charting - Drawing Tools (Total) | 15 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When choosing between FXOpen and TopFX for mobile trading apps, both brokers provide apps for iPhone and Android users, ensuring accessibility on popular smartphone platforms. FXOpen and TopFX each deliver essential features for active trading, including stock and forex price alerts, a watchlist with real-time quotes, and advanced charting capabilities with 30 technical studies. The apps also support trendline drawing and allow traders to view multiple time frames such as daily, weekly, or intraday charts. However, while TopFX auto-saves chart drawings, FXOpen does not offer this convenience.
For those who value synchronization between mobile and online platforms, neither FXOpen nor TopFX currently supports watchlist symbol syncing. When it comes to app ratings, both brokers earn a respectable 4 out of 5 stars. Despite these similarities, TopFX takes a slight edge in industry ranking, placed at #51 out of 63 brokers for mobile trading apps, whereas FXOpen stands at #54 in the same category. Overall, both platforms offer reliable mobile trading solutions, but individual preferences may sway the choice depending on specific feature priorities like chart drawing auto-save or industry rankings.
| Feature |
FXOpen
|
TopFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | 30 |
| Mobile Charting - Draw Trendlines | Yes | 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 offerings, FXOpen and TopFX present distinct advantages to traders looking to enhance their market insights. FXOpen provides daily market commentary and offers forex news from leading sources like Bloomberg and Reuters, enhancing its appeal for traders eager to stay updated with the latest market developments. However, when it comes to additional research tools, FXOpen lags behind as it doesn't include technical analysis tools from companies like Autochartist or Trading Central, nor does it provide a sentiment-based trading tool to gauge market dynamics. Despite these limitations, FXOpen includes an economic calendar that helps traders keep track of important global news events.
On the other hand, TopFX matches FXOpen in providing high-quality forex news from top-tier sources and also offers an economic calendar to keep traders informed of upcoming events. However, TopFX pulls ahead by including advanced tools like technical analysis from Autochartist and Trading Central, as well as a sentiment-based trading tool, giving traders a deeper analytical capability. Despite these enhanced tools, both brokers share a similar research rating of 3 stars out of 5. According to ForexBrokers.com, FXOpen is positioned at #63 in the Research category, while TopFX ranks slightly higher at #60, which might make TopFX a more attractive option for traders seeking a broader range of analytical tools.
| Feature |
FXOpen
|
TopFX
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | No | 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, neither FXOpen nor TopFX stands out significantly. Both brokers do not provide a minimum of 10 educational pieces like articles, videos, or webinars focused on forex or CFDs. Additionally, they both lack monthly online educational webinars and do not offer an archive of recorded webinars for clients to access. For beginners seeking more hands-on learning through videos, FXOpen and TopFX do not supply a sufficient number of beginner-level trading videos. Similarly, neither broker provides specialized content for more experienced traders through advanced educational videos.
One point of distinction between the two is FXOpen's offering of an investor dictionary with over 50 investing terms, a resource that TopFX does not provide. Despite this, both brokers receive a similar rating of 3 stars out of 5 for their overall educational offering. In terms of their ranking by ForexBrokers.com, FXOpen places slightly better, sitting at 58th out of 63 brokers, while TopFX comes in at 61st in the Education category. Therefore, those seeking comprehensive educational resources for trading may need to consider other options or supplemental materials alongside these brokers.
| Feature |
FXOpen
|
TopFX
|
|---|---|---|
| Education (Forex or CFDs) | No | No |
| Client Webinars | No | No |
| Client Webinars (Archived) | No | No |
| Videos - Beginner Trading Videos | No | No |
| Videos - Advanced Trading Videos | No | 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 FXOpen is better than TopFX. FXOpen finished with an overall rank of #54, while TopFX finished with an overall rank of #62.
FXOpen is a long standing MetaTrader broker with a narrow offering and few benefits beyond a standard MetaTrader experience coupled with social-trading platforms ZuluTrade and Myfxbook.
| Feature |
FXOpen
|
TopFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 76 | 67 |
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Both FXOpen and TopFX do not offer the ability to buy actual (delivered) cryptocurrency, but they do provide options for purchasing cryptocurrency derivatives.
While both FXOpen and TopFX provide options for deposits and withdrawals via Skrill, Visa/Mastercard, and bank wires, only TopFX includes PayPal as a funding method, whereas neither broker 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 | FXOpen | TopFX | |
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| Trust Score | 76 | 67 | |
| Winner | check_circle | ||
| Review | TopFX Review |
| Broker Screenshots | FXOpen | TopFX | |
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| Regulation | FXOpen | TopFX | |
|---|---|---|---|
| Trust Score | 76 | 67 | |
| Year Founded | 2003 | 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 | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | FXOpen | TopFX | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | 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) | FXOpen | 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 | FXOpen | TopFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 87 | 655 | |
| Forex Pairs (Total) | 25 | 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). |
| Cost | FXOpen | TopFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | N/A | 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 | FXOpen | TopFX | |
|---|---|---|---|
| Minimum Deposit | $100 | Depends on payment method | |
| PayPal (Deposit/Withdraw) | No | 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 | FXOpen | TopFX | |
|---|---|---|---|
| Proprietary Platform | No | 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 | Yes | No |
| Trading Tools | FXOpen | 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) | 15 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | FXOpen | 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 | 30 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | No | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | FXOpen | TopFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | Yes | |
| Economic Calendar | Yes | Yes |
| Education | FXOpen | TopFX | |
|---|---|---|---|
| Education (Forex or CFDs) | No | No | |
| Client Webinars | No | No | |
| Client Webinars (Archived) | No | No | |
| Videos - Beginner Trading Videos | No | No | |
| Videos - Advanced Trading Videos | No | No | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | FXOpen | 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 | TopFX Review |
| Overall | FXOpen | TopFX | |
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| Trust Score | 76 | 67 | |
| Winner | check_circle | ||
| Review | TopFX Review |
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