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 the commission and fee structures between FXCM and TopFX, both brokers earn a commendable 4-star rating, though some nuances separate their offerings. FXCM's standard account spreads in Europe, the U.K., and Australia are slightly higher than the industry average, with a time-weighted average of 0.78 pips for the EUR/USD in May 2024. However, their St. Vincent and the Grenadines entity presented an even higher spread of 1.38 pips. For those opting for commission-based accounts, average spreads were as low as 0.28 pips, albeit not including a commission equivalent of 0.50 pips. FXCM sweetens the deal with an Active Trader Rebate Program, offering tiered discounts on trading volumes above $10 million monthly, though these offers are not available in the U.K. or EU.
TopFX presents two accounting models: the spread-only ZERO account and the commission-based RAW account. The ZERO account carries no commission but has a higher average spread of 1.03 pips for the EUR/USD in July 2024. The RAW account, however, applies a commission of 2.75 EUR per side, or 5.50 EUR round-turn, and promises tighter spreads averaging 0.33 pips for EUR/USD, bringing the all-in cost to approximately 0.88 pips, aligning it with industry norms. Both accounts are accessible through popular trading platforms like MetaTrader and cTrader.
In the ForexBrokers.com ranking for commissions and fees out of 62 brokers, FXCM holds the #24 spot, showcasing a slightly more favorable standing compared to TopFX, which ranks at #40. While both brokers deliver solid options for trading, users should consider their individual trading volumes and account preferences when selecting between FXCM’s more diversified discount programs and TopFX’s straightforward account models.
| 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.
FXCM and TopFX both offer a comprehensive range of investment options for traders interested in forex and cryptocurrency trading through CFDs and spot contracts. FXCM provides access to 440 tradeable symbols, whereas TopFX takes the lead with 655 available symbols. When it comes to forex pairs, FXCM offers 43 options, while TopFX offers a broader selection with 60 pairs. Neither broker facilitates the purchase of exchange-traded securities on either U.S. or international exchanges like Apple or Vodafone shares. However, both brokers do offer copy trading and allow clients to trade cryptocurrency derivatives, although they do not offer actual cryptocurrency delivery.
In terms of ratings and rankings, both FXCM and TopFX share a similar standing for their range of investments, each earning a 3.5-star rating. According to ForexBrokers.com, FXCM is ranked at #47 out of 62 brokers, slightly trailing behind TopFX, which is positioned at #46 in the same category. This close competition suggests that both brokers offer comparable services, with TopFX providing slightly more extensive options in terms of tradeable symbols and forex pairs.
| Feature |
FXCM
|
TopFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 440 | 655 |
| Forex Pairs (Total) | 43 | 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 essential features like simulated paper trading with free virtual demo accounts that help beginners and seasoned traders alike fine-tune their strategies risk-free. FXCM stands out by providing a proprietary platform developed in-house, while TopFX relies only on third-party platforms. Both brokers facilitate trading through Windows-based desktop and web-based platforms, making it convenient for traders to access their accounts from various devices.
FXCM and TopFX each support popular MetaTrader 4, but neither offers the newer MetaTrader 5. For social traders, both brokers provide copy trading, though FXCM edges ahead with support for ZuluTrade. In terms of charting tools, FXCM offers 10 drawing tools and allows trades directly from a stock chart, while TopFX provides slightly more options with 15 drawing tools. However, FXCM excels in market monitoring with 13 watch list columns compared to TopFX’s 7. These features contribute to FXCM's impressive 5-star rating and rank as the 6th best among 62 brokers for trading platforms and tools, contrasting TopFX’s 4 stars and 45th place ranking.
| 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.
Choosing between FXCM and TopFX for mobile trading can come down to a few key differences. Both platforms offer mobile apps compatible with iPhone and Android devices and provide essential features like price alerts and the ability to draw trendlines on charts. However, FXCM stands out significantly by offering watchlist symbol syncing, which is notably absent in TopFX. This feature allows users to maintain continuity between their mobile app and online account. FXCM also provides a more generous selection of technical studies, with 59 options compared to TopFX's 30, and both auto-save chart drawings to ensure your work isn’t lost in transit.
In terms of overall user experience and recognition, FXCM edges out TopFX. With a higher user rating of 4.5 stars compared to TopFX's 4 stars, and a ranking that's considerably higher (16th versus 51st) in ForexBrokers.com's assessment, FXCM appears to deliver a more comprehensive and appreciated mobile trading experience. Both platforms support creating watchlists with real-time quotes, adding to their user-friendly appeal. Nonetheless, if syncing capabilities and a wide range of technical tools are important to you, FXCM may be the better choice for mobile traders.
| 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.
When evaluating market research offerings between FXCM and TopFX, several key differences emerge that could influence your choice depending on your trading needs. FXCM stands out by providing daily market commentary, giving traders daily insights into market movements, whereas TopFX does not offer this feature. Both brokers deliver forex news sourced from top-tier providers like Bloomberg and Reuters, ensuring traders have access to reliable updates. For traders seeking advanced tools, FXCM provides research features from Trading Central and market insights from TipRanks, both of which can be invaluable for informed decision-making. In contrast, TopFX includes technical analysis tools from Autochartist, but does not incorporate TipRanks findings into its offerings.
Both FXCM and TopFX offer sentiment analysis tools and comprehensive economic calendars outlining significant global economic events, supporting traders with timely and actionable data. Despite these similarities, FXCM achieves a higher research rating, with 4.5 stars, compared to TopFX's 3 stars. This disparity is reflected in their respective rankings on ForexBrokers.com, where FXCM secures the 11th spot out of 62 brokers for research, while TopFX is considerably lower at 59th place. These rankings highlight FXCM's superior capabilities and a more comprehensive research package, potentially making it the preferred choice for traders who prioritize in-depth market analysis and commentary.
| 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 | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing FXCM and TopFX in terms of educational resources for beginners interested in exploring the world of forex and CFDs, FXCM clearly emerges as the stronger option. FXCM provides a wealth of educational materials, including more than 10 pieces such as articles, videos, and archived webinars focused on forex and CFDs. Furthermore, FXCM hosts online webinars at least once a month, which customers can access through a searchable archive for further learning. This is complemented by at least 10 educational videos specifically tailored for beginners, alongside advanced content for more experienced traders. Additionally, FXCM offers an investor dictionary that features over 50 investing terms, which can be invaluable for those new to trading.
In contrast, TopFX falls short in several educational aspects. It does not meet the minimum educational material requirement of 10 pieces and lacks monthly online webinars or a searchable archive of recordings. The resources for beginners and experienced traders are also limited since TopFX does not provide 10 beginner or advanced educational videos. Moreover, there is no investor dictionary available to help newcomers understand trading terminology. This has resulted in FXCM achieving a higher education rating of 4.5 stars compared to TopFX’s 3 stars, with FXCM ranked 14th out of 62 brokers in the Education category by ForexBrokers.com, while TopFX is placed at 60th.
| 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 62 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 #61.
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) | 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) | FXCM | TopFX | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| 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) | No | No |
| Investments | FXCM | TopFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 440 | 655 | |
| Forex Pairs (Total) | 43 | 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 | No | |
| 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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