Written by ForexBrokers.com
In this head to head comparison of FXCM 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.
FXCM, founded in 1999, stands as a highly trusted player in the online trading scene with a Trust Score of 95 out of 99, according to ForexBrokers.com. This score reflects their strong regulatory framework, including 4 Tier-1 licenses, which are the most trusted. Additionally, FXCM is publicly traded, adding more assurance regarding its transparency and accountability. Although not a bank, FXCM’s regulatory credentials make it a notable choice for aspiring traders seeking a secure platform.
In contrast, TopFX was established in 2010 and holds a Trust Score of 67, which indicates a higher risk profile as per ForexBrokers.com ratings. TopFX possesses 1 Tier-1 license, reflecting some commitment to regulatory oversight, yet lacks any Tier-2 licenses. Unlike FXCM, TopFX is not publicly traded. While both FXCM and TopFX are not banks, considering their regulatory standings helps prospective users make informed decisions based on their level of comfort with risk and regulation.
| Feature |
FXCM
|
TopFX
|
|---|---|---|
| Year Founded | 1999 | 2010 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 4 | 1 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
When comparing FXCM to TopFX in terms of commissions and fees, both online brokers offer competitive pricing structures, though each has its distinct features. FXCM typically charges slightly higher than the industry average for forex trading; however, their rates are offset by their tiered Active Trader Rebate Program. This program, available outside the U.K. and EU, offers rebates of up to $25 per million traded for those with significant trading volume. For standard accounts, spreads are time-weighted and average around 0.78 pips for major locations like the EU, U.K., and Australia, while their commission-based accounts have an average spread of 0.28 pips, excluding commission fees. FXCM is rated 4 stars for commissions and fees, and it ranks 25th out of 63 brokers in the Commissions and Fees category according to ForexBrokers.com.
On the other hand, TopFX provides two main account types: the spread-only ZERO account and the commission-based RAW account. The RAW account charges a commission fee of 2.75 EUR per side, which translates to an all-in cost of roughly 0.88 pips for the EUR/USD pair, aligning with industry averages. The ZERO account is commission-free but features higher average spreads at 1.03 pips on the same currency pair. The flexibility of platforms, offering both MetaTrader and cTrader, adds to the appeal of TopFX accounts. Like FXCM, TopFX is rated 4 stars for its commissions and fees but ranks 40th out of the 63 brokers evaluated by ForexBrokers.com.
Both FXCM and TopFX offer distinct advantages depending on your trading style and volume. FXCM's rebate program could provide cost benefits for high-volume traders, while TopFX's straightforward fee structure via its RAW account presents predictability in trading costs. Each platform provides viable options depending on your specific needs, though it's essential to consider the different programs and their availability based on your geographic location.
| Feature |
FXCM
|
TopFX
|
|---|---|---|
| Minimum Deposit | Starts from $50 | Depends on payment method |
| Average Spread EUR/USD - Standard | 0.78 | 1.03 |
| All-in Cost EUR/USD - Active | 0.78 | 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 the range of investments offered by FXCM and TopFX, both brokers provide forex trading as a CFD or spot contract. TopFX offers a wider selection with 655 tradeable symbols and 60 forex pairs, while FXCM provides 440 tradeable symbols and 46 forex pairs. Neither broker offers exchange-traded securities on U.S. or international exchanges, meaning clients cannot directly purchase stocks like Apple or Vodafone. Both brokers do provide copy trading and cryptocurrency derivatives, but neither allows clients to buy actual cryptocurrencies.
In terms of ratings, both FXCM and TopFX receive 3.5 stars out of 5 for their range of investments. The brokers are closely ranked by ForexBrokers.com, with FXCM placed at #47 and TopFX slightly ahead at #46 out of 63 brokers for the investment range category. This suggests that while both offer similar features in some respects, TopFX edges out with a marginally broader array of tradeable options.
| Feature |
FXCM
|
TopFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 440 | 655 |
| Forex Pairs (Total) | 46 | 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 FXCM and TopFX in terms of trading platforms and tools, both brokers offer an engaging trading experience with some key differences. FXCM provides a proprietary platform, reflecting its investment in customized technology, while TopFX relies on third-party platforms. Both offer Windows-based and web-based platforms, along with access to MetaTrader 4, allowing traders flexibility in their trading environment. However, when it comes to social trading, FXCM supports ZuluTrade, enhancing its appeal for those interested in this feature, while TopFX does not offer ZuluTrade. Additionally, both brokers support paper trading with free virtual demo accounts to help users familiarize themselves before committing real money.
In terms of charting capabilities, FXCM provides 10 drawing tools compared to TopFX's 15, and both allow trading directly from charts. Watch list customization is more extensive with FXCM, offering 13 fields compared to TopFX's seven. These factors contribute to FXCM's higher user satisfaction, earning it a five-star rating for trading platforms and tools, and a commendable #6 rank among 63 brokers by ForexBrokers.com. On the other hand, TopFX, with a four-star rating, is positioned at #45, making FXCM a more competitive choice for traders seeking advanced platform features and flexibility.
| Feature |
FXCM
|
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) | No | No |
| DupliTrade | No | No |
| ZuluTrade | Yes | No |
| Charting - Indicators / Studies (Total) | 115 | 30 |
| Charting - Drawing Tools (Total) | 10 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 13 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both FXCM and TopFX offer mobile trading apps for iPhone and Android, supporting traders who manage their investments on the go. They provide essential features like stock or forex price alerts and the ability to draw trendlines on charts. Both apps also allow users to create watchlists with real-time quotes, and automatically save drawings on charts. However, FXCM has the added advantage of watchlist symbol syncing, ensuring that updates made on the mobile app are reflected on the user's online account. In contrast, TopFX doesn't offer this syncing capability.
FXCM's mobile app stands out with 59 technical studies available for charting, almost double the 30 offered by TopFX. This increased functionality could be a significant advantage for those who rely heavily on technical analysis. Furthermore, FXCM's app is rated 4.5 stars, slightly higher than TopFX's 4-star rating. FXCM also ranks 16th out of 63 brokers in the Mobile Trading Apps category according to ForexBrokers.com, compared to TopFX's position at 51. These factors might make FXCM the more attractive option for mobile trading enthusiasts seeking advanced features and higher user satisfaction.
| Feature |
FXCM
|
TopFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 59 | 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.
In comparing the market research offerings of FXCM and TopFX, several differences emerge. FXCM distinguishes itself by providing daily market commentary, which TopFX does not offer. Both brokers, however, deliver forex news from high-profile sources like Bloomberg and Reuters. When it comes to research tools, TopFX steps up with access to Autochartist, which FXCM lacks. On the other hand, both brokers boast tools from Trading Central, catering to traders who rely on technical analytics. Additionally, each broker includes a sentiment-based tool to gauge market positions, further enhancing trading insights.
Further distinctions are seen in additional tools: FXCM provides research from TipRanks, a feature unavailable from TopFX, and both brokers present an economic calendar highlighting global news events. Rating-wise, FXCM shines with 4.5 stars for Research, compared to TopFX’s 3-star rating. As a result, FXCM ranks #11 out of 63 brokers for research at ForexBrokers.com, while TopFX lags behind at #60. These insights emphasize FXCM’s edge in delivering comprehensive market research resources for traders.
| Feature |
FXCM
|
TopFX
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | Yes | Yes |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | Yes | |
| Signal Centre (Acuity Trading) | No | |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
FXCM stands out as a comprehensive resource for beginner traders looking to dive into forex and CFDs. With more than 10 educational articles, videos, and archived webinars, FXCM ensures new traders have ample resources at their fingertips. The platform goes a step further by offering interactive monthly webinars and maintaining an easily searchable archive of past sessions. For those just starting their trading journey, FXCM provides an array of beginner-focused videos, ensuring foundational concepts are well-covered. An investor dictionary with over 50 terms further aids understanding, bolstering FXCM’s commitment to beginner education. FXCM's education services receive a commendable 4.5-star rating and are ranked #14 among 63 brokers by ForexBrokers.com.
On the other hand, TopFX falls short in catering to beginners seeking trading education. The broker does not meet the minimum threshold of 10 educational pieces focused on forex or CFDs. There are no monthly educational webinars or an archive of previous sessions to revisit. Furthermore, TopFX lacks a substantial library of beginner and advanced educational videos, along with an investor dictionary for quick learning references. Consequently, TopFX's educational offerings receive a modest 3-star rating and are positioned at #61 in education rankings by ForexBrokers.com. For those eager to learn the basics and beyond in trading, FXCM clearly provides a more supportive starting point.
| Feature |
FXCM
|
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 FXCM is better than TopFX. FXCM finished with an overall rank of #15, while TopFX finished with an overall rank of #62.
For traders who appreciate advanced trading tools and quality market research, FXCM is a winner, especially for algorithmic trading. Its range of tradeable markets is fairly narrow, however, and the pricing at FXCM is just average.
| Feature |
FXCM
|
TopFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 95 | 67 |
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Both FXCM and TopFX do not provide the option to buy actual delivered cryptocurrency, but each broker offers the capability to trade cryptocurrency derivatives.
FXCM provides a wider range of deposit and withdrawal options, including ACH and SEPA transfers, PayPal, Skrill, Visa or Mastercard, and bank wires, whereas TopFX supports PayPal, Skrill, Visa or Mastercard, and bank wires but lacks ACH and SEPA transfer capabilities.
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 | FXCM | TopFX | |
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| Trust Score | 95 | 67 | |
| Winner | check_circle | ||
| Review | FXCM Review | TopFX Review |
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| Regulation | FXCM | TopFX | |
|---|---|---|---|
| Trust Score | 95 | 67 | |
| Year Founded | 1999 | 2010 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 4 | 1 | |
| Tier-2 Licenses | 2 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | FXCM | TopFX | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | Yes | 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) | 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) | FXCM | TopFX | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | Yes | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | FXCM | TopFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 440 | 655 | |
| Forex Pairs (Total) | 46 | 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 | FXCM | TopFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.78 | 1.03 | |
| All-in Cost EUR/USD - Active | 0.78 | 0.88 | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | FXCM | TopFX | |
|---|---|---|---|
| Minimum Deposit | Starts from $50 | 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 | FXCM | 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) | No | No | |
| cTrader | No | Yes | |
| DupliTrade | No | No | |
| ZuluTrade | Yes | No |
| Trading Tools | FXCM | TopFX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 13 | 7 | |
| Charting - Indicators / Studies (Total) | 115 | 30 | |
| Charting - Drawing Tools (Total) | 10 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | FXCM | 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 | 59 | 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 | FXCM | TopFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | Yes | ||
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | FXCM | 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 | FXCM | 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 | FXCM Review | TopFX Review |
| Overall | FXCM | TopFX | |
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| Trust Score | 95 | 67 | |
| Winner | check_circle | ||
| Review | FXCM Review | TopFX Review |
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