Written by ForexBrokers.com
In this head to head comparison of iFOREX 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.
iFOREX, founded in 1996, and TopFX, launched in 2010, are both established players in the online brokerage market, yet they differ in some regulatory aspects. Neither iFOREX nor TopFX is publicly traded or operates as a bank. In terms of regulatory credentials, both brokers hold one Tier-1 license, which is recognized as highly trusted according to ForexBrokers.com. However, neither possesses Tier-2 licenses, which typically add an additional layer of trust.
Despite similarities in licensing, iFOREX has a slightly more favorable Trust Score from ForexBrokers.com, standing at 75, indicating an average risk. In contrast, TopFX holds a score of 67, suggesting a higher risk profile. These scores suggest that potential investors may find iFOREX somewhat more reassuring in terms of reliability, based on available trust metrics.
| Feature |
iFOREX
|
TopFX
|
|---|---|---|
| Year Founded | 1996 | 2010 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 1 | 1 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
When comparing the trading costs between iFOREX and TopFX, it's clear that both brokers have distinct offerings in terms of commissions and fees. iFOREX does not disclose average spread data, which makes it a challenge for traders to precisely estimate costs. As a result, in the commissions and fees category, iFOREX is rated 3 out of 5 stars and ranks #61 out of 63 brokers according to ForexBrokers.com.
Conversely, TopFX provides more transparency with its two account types: the ZERO and RAW accounts, both available on MetaTrader and cTrader platforms. The ZERO account features no commission fees but has higher average spreads, around 1.03 pips for the EUR/USD pair as of July 2024. The RAW account, aimed at traders seeking tighter spreads, offers spreads averaging 0.33 pips for the EUR/USD while charging a competitive commission of 5.50 EUR per round turn standard lot. The total trading cost for the RAW account is approximately 0.88 pips, which aligns with industry averages.
Ultimately, TopFX provides a clearer pricing structure with an all-inclusive cost option, earning it a higher rating of 4 out of 5 stars for commissions and fees, and a rank of #40 out of 63 brokers by ForexBrokers.com. Choosing between iFOREX and TopFX will depend on a trader’s preference for spread transparency and overall cost structure.
| Feature |
iFOREX
|
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 | No | 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.
When comparing the investment offerings of iFOREX and TopFX, both brokers allow for forex trading through CFDs or spot contracts, making them suitable for those interested in currency trading. iFOREX provides access to 750 tradeable symbols, including 88 forex pairs, while TopFX offers 655 tradeable symbols, featuring 60 forex pairs. Neither platform offers access to exchange-traded securities on U.S. or international exchanges. However, when it comes to cryptocurrency, both brokers allow trading of cryptocurrency derivatives, not the actual digital currencies.
TopFX sets itself apart by offering copy trading, a feature not available with iFOREX. Despite these differences, both brokers receive a similar evaluation, with iFOREX and TopFX each rated 3.5 stars for their range of investments. In a broader market evaluation by ForexBrokers.com, iFOREX is ranked slightly ahead at 41st position, compared to TopFX’s position at 46th out of 63 brokers. This comparison highlights that while both platforms offer comprehensive options, your specific trading needs can determine which broker is more suited for you.
| Feature |
iFOREX
|
TopFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 750 | 655 |
| Forex Pairs (Total) | 88 | 60 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | No |
| Social Trading / Copy Trading | No | 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 the trading platforms and tools of iFOREX and TopFX, both brokers offer unique features that cater to different types of traders. iFOREX stands out with its proprietary platform, offering a web-based experience that allows trading directly from stock charts. However, it lacks certain popular features like MetaTrader 4 (MT4) and MetaTrader 5 (MT5), as well as a desktop trading platform for Windows. In contrast, TopFX provides a Windows-based platform and supports MT4, along with offering copy trading and a free virtual demo account for simulated trading. Both platforms allow you to trade directly from stock charts, but iFOREX excels in charting tools with 25 drawing tools, compared to TopFX's 15.
In terms of customization, iFOREX offers nine fields for watch lists, slightly more than the seven fields available with TopFX. Despite these differences, both brokers earn a solid four-star rating for their trading platforms and tools. As per the ForexBrokers.com ranking, TopFX comes in at 45th place, ahead of iFOREX which holds the 54th position out of 63 brokers. This ranking might be influenced by the diverse trading platform choices and additional features like copy trading and a demo account that TopFX offers, appealing to both beginners looking to practice and experienced traders seeking diverse toolsets.
| Feature |
iFOREX
|
TopFX
|
|---|---|---|
| Virtual Trading (Demo) | No | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | No | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 57 | 30 |
| Charting - Drawing Tools (Total) | 25 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 9 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both iFOREX and TopFX provide mobile trading apps available for iPhone and Android users. However, they differ in several key features that might impact your trading experience. TopFX offers stock and forex price alerts and the ability to draw trendlines on charts, a feature not available with iFOREX. Additionally, TopFX allows users to view multiple time frames on charts, save drawings automatically, and supports creating watchlists with real-time quotes. In contrast, iFOREX lacks these functionalities, which might be a consideration for traders seeking a more comprehensive charting experience.
Even with these differences, both platforms share a similar overall user rating of 4 out of 5 stars for their mobile trading apps, highlighting their utility and reliability. While iFOREX ranks #55 among 63 brokers in the Mobile Trading Apps category on ForexBrokers.com, TopFX sits slightly higher at #51. This suggests that while both apps are well-regarded, TopFX might offer more advanced features suited for traders who rely heavily on mobile platforms to monitor their investments closely.
| Feature |
iFOREX
|
TopFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | No | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | N/A | 30 |
| Mobile Charting - Draw Trendlines | No | Yes |
| Mobile Charting - Multiple Time Frames | No | Yes |
| Mobile Charting - Drawings Autosave | No | Yes |
| Mobile Watchlist | No | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing market research options, iFOREX and TopFX each present unique advantages and limitations. iFOREX stands out with their provision of daily market commentary and a robust sentiment-based trading tool that offers insight into the ratio of long or short positions across various instruments. They also utilize Trading Central for technical analytics, offering users comprehensive insights. An economic calendar is available, which highlights crucial global news events. However, iFOREX lacks top-tier forex news services and tools from Autochartist and Acuity Trading, reflecting its 3.5-star rating and #48 ranking in research by ForexBrokers.com.
TopFX provides access to forex news from premier sources like Bloomberg and Reuters, enhancing its appeal to traders seeking timely updates. Furthermore, they offer research tools from both Autochartist and Trading Central, which cater to technical and fundamental analysis needs. Like iFOREX, TopFX also includes a sentiment-based trading tool and an economic calendar. Despite these offerings, the absence of daily market commentary and tools from Acuity Trading contributes to its 3-star rating and a lower #60 ranking in the research category on ForexBrokers.com.
| Feature |
iFOREX
|
TopFX
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | No | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | Yes | 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 comparing educational resources for beginners between online brokers iFOREX and TopFX, both fall short in offering a rich variety of educational content such as articles, videos, or webinars focused on forex or CFDs. Neither platform provides a regular schedule of educational webinars or a searchable archive of past webinars. However, iFOREX provides a slight edge by offering at least ten beginner-focused educational videos designed to help new traders get acquainted with trading concepts. Unfortunately, TopFX does not match this offering for beginners.
Both iFOREX and TopFX do not feature advanced educational videos or comprehensive investor dictionaries with detailed definitions of investing terms. Despite these limitations, iFOREX receives a slightly higher rating of 3.5 stars out of 5 for its educational offerings, compared to TopFX's 3 stars. According to ForexBrokers.com, iFOREX ranks #53 out of 63 brokers in the Education category, whereas TopFX is placed at #61. This comparison highlights that iFOREX may be slightly better equipped to assist beginners compared to TopFX, though both have substantial room for improvement in educational resources.
| Feature |
iFOREX
|
TopFX
|
|---|---|---|
| Education (Forex or CFDs) | No | No |
| Client Webinars | No | No |
| Client Webinars (Archived) | No | No |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | No | No |
| Investor Dictionary (Glossary) | No | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that iFOREX is better than TopFX. iFOREX finished with an overall rank of #52, while TopFX finished with an overall rank of #62.
iFOREX is operated by a long-standing company, previously known as Vestle, with regulatory status in a growing number of jurisdictions, offering forex and CFDs through its proprietary platform. The biggest drawback is the lack of markets you can trade with fewer than 200, compared to the best multi asset forex and CFD brokers.
| Feature |
iFOREX
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TopFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 75 | 67 |
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Both iFOREX and TopFX do not offer the ability to buy actual delivered cryptocurrency, but they do provide options for purchasing cryptocurrency derivatives.
Both iFOREX and TopFX provide similar options for depositing and withdrawing account funds, including PayPal, Skrill, Visa or Mastercard, and bank wires; however, 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 | iFOREX | TopFX | |
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| Trust Score | 75 | 67 | |
| Winner | check_circle | ||
| Review | TopFX Review |
| Broker Screenshots | iFOREX | TopFX | |
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| Regulation | iFOREX | TopFX | |
|---|---|---|---|
| Trust Score | 75 | 67 | |
| Year Founded | 1996 | 2010 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 1 | 1 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | iFOREX | 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) | iFOREX | 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 | iFOREX | TopFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 750 | 655 | |
| Forex Pairs (Total) | 88 | 60 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | No | |
| Social Trading / Copy Trading | No | 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 | iFOREX | 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 | No | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | iFOREX | TopFX | |
|---|---|---|---|
| Minimum Deposit | $100 | 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 | iFOREX | TopFX | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | No | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | Yes | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | iFOREX | TopFX | |
|---|---|---|---|
| Virtual Trading (Demo) | No | Yes | |
| Alerts - Basic Fields | No | Yes | |
| Watchlists - Total Fields | 9 | 7 | |
| Charting - Indicators / Studies (Total) | 57 | 30 | |
| Charting - Drawing Tools (Total) | 25 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | No | Yes |
| Mobile Trading | iFOREX | TopFX | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | No | Yes | |
| Mobile Watchlist | No | Yes | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | N/A | 30 | |
| Mobile Charting - Draw Trendlines | No | Yes | |
| Mobile Charting - Multiple Time Frames | No | Yes | |
| Mobile Charting - Drawings Autosave | No | Yes | |
| Mobile Economic Calendar | No | Yes |
| Research | iFOREX | TopFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | No | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | iFOREX | TopFX | |
|---|---|---|---|
| Education (Forex or CFDs) | No | No | |
| Client Webinars | No | No | |
| Client Webinars (Archived) | No | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | No | No | |
| Investor Dictionary (Glossary) | No | No |
| Major Forex Pairs | iFOREX | 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 | iFOREX | TopFX | |
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| Trust Score | 75 | 67 | |
| Winner | check_circle | ||
| Review | TopFX Review |
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