Written by ForexBrokers.com
In this head to head comparison of IFC 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.
Founded in 2006, IFC Markets is a relatively established player in the online brokerage space, while TopFX, established in 2010, also has a solid presence. Both brokers remain privately held and are not affiliated with banking services. When it comes to regulatory standing, IFC Markets holds a single Tier-2 license, which reflects a moderate level of trust, and has a Trust Score of 73 according to ForexBrokers.com, indicating an average risk.
In contrast, TopFX, although newer, boasts one Tier-1 license, suggesting a more reliable standing in regulatory terms. However, it scores a 67 on the ForexBrokers.com Trust Score scale, indicating a higher risk compared to IFC Markets. Despite differences in regulatory credentials, both brokers offer unique advantages to different types of traders.
| Feature |
IFC Markets
|
TopFX
|
|---|---|---|
| Year Founded | 2006 | 2010 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 0 | 1 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
When considering IFC Markets for trading, the broker offers an average spread for EUR/USD at 1.44 pips, which is above the industry average of 1.08 pips, positioning it as slightly less competitive in this regard. However, more active traders can find better value in IFC Market's new ECN account, achieving effective spreads of 1.1 pips when accounting for the 0.005% commission applied on both the buy and sell sides. Moreover, the absence of inactivity fees and availability of active trader discounts provide added financial perks. Rated 4 out of 5 stars, IFC Markets stands at #39 in the Commissions and Fees category among 63 brokers according to ForexBrokers.com.
TopFX provides a dual-account structure available on both MetaTrader and cTrader platforms. The ZERO account operates on a spread-only basis with no commissions, featuring an average spread of 1.03 pips for EUR/USD as of July 2024. Alternatively, the RAW account employs a commission-based setup, charging 2.75 EUR per side for a standard lot, equivalent to 5.50 EUR round turn, achieving an average total cost of 0.88 pips alongside the spread, which aligns with the industry average. Much like IFC Markets, TopFX is rated 4 out of 5 stars and ranks just below IFC, at #40 out of 63 brokers for Commissions and Fees as rated by ForexBrokers.com.
| Feature |
IFC Markets
|
TopFX
|
|---|---|---|
| Minimum Deposit | $1 | Depends on payment method |
| Average Spread EUR/USD - Standard | 1.44 | 1.03 |
| All-in Cost EUR/USD - Active | 1.1 | 0.88 |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | No | 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 IFC Markets and TopFX, both online brokers stand out for their comprehensive forex trading options. IFC Markets provides access to 630 tradeable symbols, while TopFX offers a slightly broader selection with 655 symbols. In terms of forex pairs, TopFX holds a slight advantage by offering 60 pairs compared to IFC Markets' 49 pairs. Both brokers provide CFD trading for forex but do not offer the ability to purchase actual cryptocurrencies or U.S. exchange-traded securities such as Apple shares. However, IFC Markets distinguishes itself by offering international exchange-traded securities like Vodafone shares, which is not an option with TopFX.
Both brokers support copy trading as well as trading cryptocurrency derivatives, not the actual cryptocurrencies themselves. Despite some differences in their offerings, both IFC Markets and TopFX are rated equally with 3.5 stars out of five for their range of investments. According to ForexBrokers.com, IFC Markets is ranked #43 out of 63 brokers in the Range of Investments category, slightly ahead of TopFX, which is ranked #46. These ratings indicate that while both brokers offer compelling options, there may be subtle distinctions in their investment offerings that could influence a trader's decision.
| Feature |
IFC Markets
|
TopFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 630 | 655 |
| Forex Pairs (Total) | 49 | 60 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | Yes | 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 of IFC Markets and TopFX, both brokers offer comprehensive features, yet have distinct offerings that cater to different trader preferences. Both brokers provide a simulated trading experience with free virtual demo accounts, making it easy for beginners to polish their trading skills. IFC Markets stands out with its proprietary trading platform, offering unique features created in-house, while TopFX relies on popular third-party solutions. Both brokers support Windows-based desktop platforms and web-based trading for convenient access. Additionally, copy trading is available through both brokers, and they offer the MetaTrader 4 platform. However, IFC Markets goes a step further by also providing the newer MetaTrader 5 platform, which is not an option with TopFX.
Despite these differences, both brokers have similar charting capabilities, offering 15 drawing tools and trading directly from stock charts. They also include seven columns for customizing watch lists. It's important to note that neither offers platforms like DupliTrade or ZuluTrade. Both are highly regarded for their trading platforms and tools, each earning a strong four-star rating. However, according to ForexBrokers.com, IFC Markets edges ahead, ranking 36th out of 63 brokers, compared to TopFX's ranking of 45th. These rankings provide potential traders with an insight into the subtle differences in platform offerings and user experience, helping them make informed decisions based on their individual trading needs.
| Feature |
IFC 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) | 15 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of IFC Markets and TopFX, both brokers offer apps for iPhone and Android devices, allowing traders to stay connected on the go. Each app provides features like receiving stock or forex price alerts, drawing trendlines on charts, accessing multiple time frames, and having 30 technical studies for chart analysis. Both platforms also support creating watchlists with real-time quotes and auto-saving chart drawings to streamline the trading process.
However, a key difference lies in the ability to sync watchlist symbols with an online account. IFC Markets allows seamless syncing, so changes made on the mobile app reflect in the client's online account, whereas TopFX does not offer this feature. Despite rated four out of five stars for their mobile trading apps, TopFX is slightly ahead at 51st place compared to IFC Markets' 52nd position in the ForexBrokers.com ranking of 63 brokers. Both brokers provide comparable functionality, but the watchlist syncing option may sway some users towards IFC Markets for enhanced flexibility.
| Feature |
IFC Markets
|
TopFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 30 | 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 comparing IFC Markets to TopFX for market research offerings, IFC Markets stands out with a few unique features. It provides users with daily market commentary and offers useful tools like a sentiment-based trading tool and an economic calendar to keep track of global events. On the downside, IFC Markets lacks access to top-tier forex news sources and doesn't utilize well-known research tools from companies such as Autochartist or Trading Central. Despite these shortcomings, it still garners a research rating of 3.5 stars and is ranked 40th out of 63 brokers by ForexBrokers.com.
On the other hand, TopFX excels in providing forex news from leading sources like Bloomberg and Reuters, alongside offering advanced research tools from Autochartist and Trading Central. It also includes a sentiment-based tool and an economic calendar, meeting some key research needs. However, TopFX falls short in offering daily market commentary and is rated slightly lower than IFC Markets with 3 stars for research. Consequently, its overall ranking stands at 60th out of 63 brokers according to ForexBrokers.com. This comparison showcases how both brokers have their strengths and weaknesses, making them suitable for different types of traders based on their research preferences.
| Feature |
IFC Markets
|
TopFX
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | No | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | Yes | 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, IFC Markets stands out compared to TopFX. IFC Markets provides a solid foundation for newcomers in forex and CFDs trading by offering more than 10 educational materials, including articles and videos. In contrast, TopFX does not meet this basic educational provision. Furthermore, IFC Markets enhances learning with a collection of over 10 beginner-friendly trading videos, as well as advanced tutorials for more experienced traders. Meanwhile, TopFX does not match this offering, leaving entry-level traders with fewer resources to assist them in their learning journey.
In addition, IFC Markets offers a comprehensive investor dictionary that defines over 50 investing terms, which is not available with TopFX. When evaluating their overall educational quality, IFC Markets is rated at 3.5 out of 5 stars and ranks 30th among 63 brokers on ForexBrokers.com for education. TopFX, on the other hand, receives a lower rating of 3 stars and is positioned at 61st place in the same category. While neither broker provides ongoing monthly webinars or a searchable archive of past webinars, IFC Markets still delivers more educational value to beginners seeking to advance their trading knowledge.
| Feature |
IFC Markets
|
TopFX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | No | No |
| Client Webinars (Archived) | No | 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 IFC Markets is better than TopFX. IFC Markets finished with an overall rank of #45, while TopFX finished with an overall rank of #62.
IFC Markets is a well-established broker that has been in operation for 17 years. Forex traders at IFC Markets gain access to multiple trading platforms, a growing range of tradeable markets, and a balanced offering of research and educational content. However, IFC Markets’ Trust Score suffers due to the broker’s limited range of regulatory licenses.
| Feature |
IFC Markets
|
TopFX
|
|---|---|---|
| Overall Rating |
|
|
| Trust Score | 73 | 67 |
| Range of Investments |
|
|
| Commissions & Fees |
|
|
| Platforms & Tools |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
Both IFC Markets and TopFX do not offer the option to buy actual delivered cryptocurrency, though they both provide the ability to trade cryptocurrency derivatives.
In comparing online brokers IFC Markets and TopFX, neither provider supports ACH or SEPA transfers for deposits or withdrawals, while TopFX offers PayPal and Skrill, unlike IFC Markets; both platforms facilitate transactions via Visa, Mastercard, and bank wires.
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.
Select Brokers
↓×Compare
0 of 5| Overall Rating | IFC Markets | TopFX | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 73 | 67 | |
| Winner | check_circle | ||
| Review | TopFX Review |
| Broker Screenshots | IFC Markets | TopFX | |
|---|---|---|---|
| Trading Platforms Gallery (click to expand) |
| ||
| Mobile Trading Gallery (click to expand) |
| ||
| Research Gallery (click to expand) |
| ||
| Education Gallery (click to expand) |
|
| Regulation | IFC Markets | TopFX | |
|---|---|---|---|
| Trust Score | 73 | 67 | |
| Year Founded | 2006 | 2010 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes | |
| Tier-1 Licenses | 0 | 1 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | IFC Markets | 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) | No | No | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes |
| Tier-2 Licenses (Trusted) | IFC Markets | TopFX | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| 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) | No | No |
| Investments | IFC Markets | TopFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 630 | 655 | |
| Forex Pairs (Total) | 49 | 60 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | Yes | 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 | IFC Markets | TopFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.44 | 1.03 | |
| All-in Cost EUR/USD - Active | 1.1 | 0.88 | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | IFC Markets | TopFX | |
|---|---|---|---|
| Minimum Deposit | $1 | Depends on payment method | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | IFC 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 | No | Yes | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | IFC 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) | 15 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | IFC Markets | 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 | 30 | 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 | IFC Markets | TopFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | No | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | IFC Markets | TopFX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | No | No | |
| Client Webinars (Archived) | No | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | IFC 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 | TopFX Review |
| Overall | IFC Markets | TopFX | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 73 | 67 | |
| Winner | check_circle | ||
| Review | TopFX Review |
IG
CMC Markets
FOREX.com
XTB
eToro
AvaTrade
Plus500
Pepperstone
FP Markets
Tickmill