Written by ForexBrokers.com
In this head to head comparison of IG 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.
IG and TopFX are two online brokers with distinct profiles and regulatory standings. Established in 1974, IG not only enjoys a long-standing presence but is also publicly traded and operates as a bank. It holds an impressive eight Tier-1 licenses, a mark of high trust, along with two Tier-2 licenses. This has earned IG a perfect Trust Score of 99 out of 99 on ForexBrokers.com, indicating a status of being highly trusted by the regulatory community.
In contrast, TopFX, founded in 2010, is neither publicly traded nor a bank. It holds one Tier-1 license but does not possess any Tier-2 licenses. TopFX has a Trust Score of 67 out of 99, categorizing it as a high-risk broker by ForexBrokers.com standards. The differences in regulatory stature between these two brokers highlight the level of trust and assurance each one offers to traders.
| Feature |
IG
|
TopFX
|
|---|---|---|
| Year Founded | 1974 | 2010 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 8 | 1 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
IG and TopFX both offer unique features in their commissions and fees structures, catering to different types of traders. IG is particularly appealing to active traders with its Forex Direct accounts, where narrow average spreads of 0.62 pips on the EUR/USD and commission-based cost structure make it competitive. Additionally, IG provides various discounts through its active-trader rebate program, benefiting those with significant trading volumes. This makes IG an enticing option for high-frequency traders, reflected in its high 5-star rating and an impressive #8 ranking out of 63 brokers for commissions and fees.
For traders looking at TopFX, the broker offers two main account types: the spread-only ZERO account and the commission-based RAW account. The RAW account features an average spread of 0.33 pips on the EUR/USD with an additional commission leading to an all-in cost of approximately 0.88 pips, aligning with industry standards. The ZERO account offers the simplicity of commission-free trading, albeit with higher average spreads of 1.03 pips. With a good 4-star rating and a #40 ranking in the commissions and fees category, TopFX serves as a viable choice for traders who prioritize straightforward cost structures.
In summary, IG stands out for its competitive pricing for active traders, earning a top-tier rating in the industry, while TopFX provides a balanced offering with its dual account options, appealing to those who prefer either low spreads with commissions or commission-free trading. Both brokers offer varied benefits, but their differences in pricing and features highlight their unique positions in the market.
| Feature |
IG
|
TopFX
|
|---|---|---|
| Minimum Deposit | £250.00 | Depends on payment method |
| Average Spread EUR/USD - Standard | 0.98 | 1.03 |
| All-in Cost EUR/USD - Active | 0.82 | 0.88 |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | 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 investment options offered by IG and TopFX, it's clear that IG provides a more extensive array of choices. IG offers an impressive 19,537 tradeable symbols, including 97 forex pairs, while TopFX provides 655 tradeable symbols with 60 forex pairs. IG allows clients to buy not only forex and CFD contracts but also actual shares from U.S. and international exchanges, such as Apple and Vodafone. In contrast, TopFX does not offer trading in U.S. or international stocks directly. Additionally, IG supports the trading of actual cryptocurrencies, distinguishing it further in its investment offerings compared to TopFX, which limits clients to cryptocurrency derivatives only.
While both IG and TopFX facilitate forex trading via CFD or spot contracts, there are notable differences in their additional features. TopFX offers copy trading, which could appeal to investors looking to mirror the strategies of successful traders. However, IG stands out with a higher range of investment ratings, earning a perfect 5-star rating and a #4 rank out of 63 brokers by ForexBrokers.com, compared to TopFX’s 3.5-star rating and #46 rank. For investors seeking a broader spectrum of investment options, IG might be the more suitable choice given its extensive range and access to diversified financial markets.
| Feature |
IG
|
TopFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 19537 | 655 |
| Forex Pairs (Total) | 97 | 60 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | No | Yes |
| Cryptocurrency (Physical) | Yes | 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 it comes to trading platforms and tools, IG and TopFX both cater to traders by providing a range of features that can enhance the trading experience. IG stands out with its proprietary trading platform, offering a unique touch tailored in-house. Both brokers provide a Windows-based desktop download platform and a web-based option, accommodating different trading preferences. However, IG does not support copy trading, while TopFX includes this feature, appealing to traders who benefit from mirroring successful strategies. Both platforms support MetaTrader 4, a popular choice among traders, but neither offers MetaTrader 5. IG offers its clients 20 drawing tools for charting, slightly more than TopFX's 15, and both brokers allow traders to place trades directly from a stock chart.
IG is particularly popular for its comprehensive offerings, earning a perfect five-star rating for its trading platforms and tools, making it the number two choice among 63 brokers reviewed by ForexBrokers.com. In contrast, TopFX holds a four-star rating and is positioned at number 45 in the same ranking. When considering watch list customization, IG provides 5 columns, whereas TopFX offers 7, giving more options for tracking important data. Both brokers offer simulated trading through a demo account, allowing traders to practice and refine strategies without financial risk. Overall, while IG might be more appealing for those seeking a proprietary platform and advanced charting tools, TopFX offers unique advantages like copy trading for those interested.
| Feature |
IG
|
TopFX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | No | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 33 | 30 |
| Charting - Drawing Tools (Total) | 20 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 5 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When it comes to mobile trading apps, both IG and TopFX offer handy tools for iPhone and Android users, ensuring traders can access their portfolios on the go. Each platform supports stock and forex price alerts, helping investors stay updated with market changes. However, a notable distinction is that IG allows for watchlist symbol syncing, meaning any changes made to your watchlist are reflected across both the mobile app and your online account. In contrast, TopFX lacks this feature, which could be a consideration for those who appreciate seamless integration between platforms.
IG provides 33 technical studies for charting, slightly edging out TopFX, which offers 30. Both allow users to draw trendlines and view multiple time frames on charts, along with auto-saving any drawings. The ability to create watchlists with real-time quotes is present on both platforms. Despite these similarities, IG stands out with a five-star rating for its mobile trading apps and is ranked #1 out of 63 brokers in the category by ForexBrokers.com. Meanwhile, TopFX, while a solid choice, holds a four-star rating and is ranked #51. These rankings may reflect the overall user experience and advanced features IG offers.
| Feature |
IG
|
TopFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 33 | 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 market research offerings, IG clearly outshines TopFX with a comprehensive array of tools and features. IG not only provides daily market commentary, which TopFX lacks, but also delivers forex news sourced from esteemed agencies such as Bloomberg, Reuters, and Dow Jones. Both platforms offer sophisticated tools from Autochartist, but TopFX takes a step ahead by providing additional resources from Trading Central, which IG does not. IG boasts exclusive features like market insights from TipRanks and research tools from Acuity Trading, enhancing its appeal for in-depth market analysis.
Moreover, both IG and TopFX supply sentiment-based trading tools and maintain an economic calendar to track global economic events. However, IG still leads with a stellar 5-star research rating compared to TopFX's 3 stars, reflecting a more enriching research experience. Ranked #2 out of 63 brokers by ForexBrokers.com, IG’s research services are nearly unrivaled, while TopFX remains at #60, indicating room for improvement in delivering comprehensive market analysis. For traders seeking a well-rounded research package, IG undoubtedly offers a superior platform.
| Feature |
IG
|
TopFX
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | Yes | No |
| Signal Centre (Acuity Trading) | Yes | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing IG and TopFX regarding educational resources for beginners, IG clearly stands out as the superior choice for those eager to learn forex and CFDs. IG offers a wide array of learning materials, with more than 10 educational pieces like articles, videos, and archived webinars dedicated to these topics. Furthermore, IG hosts regular online educational webinars, at least once a month, and provides access to a searchable archive of past recorded sessions. This extensive library of knowledge is complemented by over 10 beginner-friendly videos, 10 advanced videos, and a comprehensive investor dictionary with more than 50 investing terms, making it a well-rounded educational platform.
In contrast, TopFX falls short in providing educational content to beginners. Unlike IG, TopFX does not meet the minimum threshold of 10 educational pieces focused on forex or CFD subjects. Additionally, TopFX lacks online webinars, a searchable archive of recorded sessions, and sufficient beginner-specific video content. Their absence of an investor dictionary means that beginners might miss out on understanding key investing terms. As a result, IG earns a 5-star rating by ForexBrokers.com for education, ranking number 1 out of 63 brokers, whereas TopFX receives a 3-star rating and finds itself placed at a low 61st position. Overall, IG's commitment to educational resources gives prospective traders a substantial platform for developing their trading skills.
| Feature |
IG
|
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 IG is better than TopFX. IG finished with an overall rank of #1, while TopFX finished with an overall rank of #62.
IG offers the ultimate comprehensive trading package, featuring excellent trading and research tools, industry-leading education, and an extensive range of tradeable markets.
| Feature |
IG
|
TopFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 67 |
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IG allows users to purchase actual cryptocurrency and also offers cryptocurrency derivatives, while TopFX only provides access to cryptocurrency derivatives.
When comparing online brokers IG and TopFX, both offer PayPal, Visa/Mastercard, and bank wire options for account fund transactions, but differ in that IG provides ACH/SEPA transfers, while TopFX supports Skrill.
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 | IG | TopFX | |
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| Trust Score | 99 | 67 | |
| Winner | check_circle | ||
| Review | IG Review | TopFX Review |
| Broker Screenshots | IG | TopFX | |
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| Regulation | IG | TopFX | |
|---|---|---|---|
| Trust Score | 99 | 67 | |
| Year Founded | 1974 | 2010 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 8 | 1 | |
| Tier-2 Licenses | 2 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | IG | TopFX | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | Yes | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | IG | TopFX | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | IG | TopFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 19537 | 655 | |
| Forex Pairs (Total) | 97 | 60 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | No | Yes | |
| Cryptocurrency (Physical) | Yes | 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 | IG | TopFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.98 | 1.03 | |
| All-in Cost EUR/USD - Active | 0.82 | 0.88 | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | IG | TopFX | |
|---|---|---|---|
| Minimum Deposit | £250.00 | Depends on payment method | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | IG | TopFX | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | Yes | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | IG | TopFX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 5 | 7 | |
| Charting - Indicators / Studies (Total) | 33 | 30 | |
| Charting - Drawing Tools (Total) | 20 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | IG | 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 | 33 | 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 | IG | TopFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | IG | 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 | IG | 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 | IG Review | TopFX Review |
| Overall | IG | TopFX | |
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| Trust Score | 99 | 67 | |
| Winner | check_circle | ||
| Review | IG Review | TopFX Review |
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