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Interactive Brokers vs TopFX 2021

Is Interactive Brokers better than TopFX? In our analysis of 23 international regulators across 50 brokers, Interactive Brokers is considered low-risk, with an overall Trust Score of 99 out of 99. TopFX is considered high-risk, with an overall Trust Score of 67 out of 99. Learn more about Trust Score.


CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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Overall Rating

Feature Interactive Brokers TopFX
Overall 5 3.5
Commissions & Fees 5 3.5
Offering of Investments 5 3.5
Platforms & Tools 4.5 3.5
Mobile Trading Apps 4.5 3.5
Research 4.5 3
Education 4 3
Trust Score 99 67
Interactive Brokers Review TopFX Review
66% of retail CFD accounts lose money
Winner check_circle

Regulation

Feature Interactive Brokers TopFX
Trust Score 99 67
Year Founded
1977 2010
Publicly Traded (Listed)
Yes No
Bank
No No
Tier-1 Licenses
8 0
Tier-2 Licenses
1 1
Tier-3 Licenses
0 0
Authorised in the European Union
Yes No

Tier-1 Licenses (High Trust)

Feature Interactive Brokers TopFX
ASIC Authorised (Australia)
Yes No
IIROC Authorised (Canada)
Yes No
SFC Authorised (Hong Kong)
Yes No
CBI Authorised (Ireland)
Yes No
FSA Authorised (Japan)
Yes No
MAS Authorised (Singapore)
Yes No
FINMA Authorised (Switzerland)
Yes No
FCA Authorised (UK)
Yes No
CFTC Registered (USA)
Yes No
FMA Authorised (New Zealand)
No No

Tier-2 Licenses (Average Trust)

Feature Interactive Brokers TopFX
CBRC Authorised (China)
No No
CySEC Authorised (Cyprus)
No Yes
SEBI Authorised (India)
Yes No
ISA Authorised (Israel)
No No
CBR Authorised (Russia)
No No
FSCA Authorised (South Africa)
No No
SEC Authorised (Thailand)
No No
DFSA / Central Bank Authorised (UAE)
No No

Tier-3 Licenses (Low Trust)

Feature Interactive Brokers TopFX
SCB Authorised (Bahamas) No No
IFSC Authorised (Belize) No No
Cayman Islands Monetary Authority (CIMA)
No No
BMA Authorised (Bermuda) No No
FSC Authorised (British Virgin Islands)
No No
FSC Authorised (Mauritius)
No No
VFSC Authorised (Vanuatu)
No No

Investments

Feature Interactive Brokers TopFX
Forex Trading
Yes Yes
CFD Trading
Yes Yes
Tradeable Symbols (Total)
7400 655
Forex Pairs (Total)
91 60
US 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 (CFD)
No Yes
Crypto Disclaimer (UK) 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

Feature Interactive Brokers TopFX
Average Spread EUR/USD - Standard
0.6 (From 09/25/21 - 10/02/21) n/a
All-in Cost EUR/USD - Active
0.6 (From 09/25/21 - 10/02/21) n/a
Active Trader or VIP Discounts
Yes No
Execution: Agency Broker
Yes No
Execution: Market Maker
No Yes

Funding

Feature Interactive Brokers TopFX
Minimum Deposit
$0 Depends on payment method
Bank Wire (Deposit/Withdraw)
Yes Yes
Visa/Mastercard (Credit/Debit)
No Yes
PayPal (Deposit/Withdraw)
No Yes
Skrill (Deposit/Withdraw)
No Yes

Trading Platforms

Feature Interactive Brokers TopFX
Proprietary Platform
Yes No
Desktop Platform (Windows)
Yes 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

Feature Interactive Brokers TopFX
Virtual Trading (Demo)
Yes Yes
Alerts - Basic Fields
Yes Yes
Watchlists - Total Fields
651 7
Charting - Indicators / Studies (Total)
127 30
Charting - Drawing Tools (Total)
9 15
Charting - Trade From Chart
Yes Yes
Charting - Drawings Autosave
Yes No

Mobile Trading

Feature Interactive Brokers TopFX
Android App
Yes Yes
Apple iOS App
Yes Yes
Alerts - Basic Fields
Yes Yes
Watch List
Yes Yes
Watch List Syncing
Yes No
Charting - Indicators / Studies
98 30
Charting - Draw Trendlines
No Yes
Charting - Trendlines Moveable
No No
Charting - Multiple Time Frames
Yes Yes
Charting - Drawings Autosave
No Yes
Forex Calendar
Yes Yes

Research

Feature Interactive Brokers TopFX
Daily Market Commentary
Yes No
Forex News (Top-Tier Sources)
Yes Yes
Autochartist
No Yes
Trading Central (Recognia)
Yes Yes
Delkos Research
No No
Social Sentiment - Currency Pairs
Yes Yes
Economic Calendar
Yes Yes

Education

Feature Interactive Brokers TopFX
Has 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

Feature Interactive Brokers 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

Overall

Feature Interactive Brokers TopFX
Overall 5 3.5
Commissions & Fees 5 3.5
Offering of Investments 5 3.5
Platforms & Tools 4.5 3.5
Mobile Trading Apps 4.5 3.5
Research 4.5 3
Education 4 3
Trust Score 99 67
Interactive Brokers Review TopFX Review

Comparing forex brokers side by side is no easy task. For our 2022 annual forex broker review, we spent hundreds of hours assessing 39 forex and CFD brokerages to find the best forex broker. Let's compare Interactive Brokers vs TopFX.

Does Interactive Brokers or TopFX offer lower pricing?
Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spreads data, and pricing structures vary. Based on our thorough annual assessment, Interactive Brokers offers better pricing overall for traders.

Is Interactive Brokers or TopFX safer for forex and CFDs trading?
At ForexBrokers.com, we track where each forex and CFD broker is regulated across over 23 international regulator databases. Here's our findings. Interactive Brokers holds 8 global Tier-1 licenses, while TopFX holds 0. Both Interactive Brokers and TopFX hold 1 global Tier-2 licenses. In our analysis of 23 international regulators across 50 brokers, Interactive Brokers earned a higher Trust Score than TopFX.

Which trading platform is better: Interactive Brokers or TopFX?
To compare the trading platforms of both Interactive Brokers and TopFX, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, Interactive Brokers offers a better experience. With research, Interactive Brokers offers superior market research. Finally, we found Interactive Brokers to provide better mobile trading apps.

What about MetaTrader and copy trading?
For forex and CFDs traders, copy trading and MetaTrader are both popular platform options. While TopFX offers copy trading, Interactive Brokers does not. TopFX offers MetaTrader 4 (MT4), while Interactive Brokers does not.

How many forex pairs and CFDs are available to trade?
Interactive Brokers provides traders 91 currency pairs (e.g., EUR/USD) compared to TopFX's 60 available pairs. Forex pairs aside, Interactive Brokers offers traders access to 7400 CFDs while TopFX has 655 available CFDs, a difference of 6,745.

Can I trust Interactive Brokers?
Interactive Brokers is publicly traded, does not operate a bank, and is authorised by eight tier-1 regulators (high trust), one tier-2 regulators (average trust), and zero tier-3 regulators (low trust). Interactive Brokers is authorised by the following tier-1 regulators: Investment Industry Regulatory Organization of Canada (IIROC), Central Bank of Ireland (CBI), Securities Futures Commission (SFC), Japanese Financial Services Authority (JFSA), Financial Conduct Authority (FCA), Monetary Authority of Singapore (MAS), and the Commodity Futures Trading Commission (CFTC).

Can I trust TopFX?
TopFX is not publicly traded and does not operate a bank. TopFX is authorised by zero tier-1 regulators (high trust) and one tier-2 regulator (average trust).

Is Interactive Brokers good?
Interactive Brokers is a highly trusted multi-asset broker with an extensive offering of tradeable global markets. It delivers competitive fees and high-quality research and education, as well as a modern, institutional-grade trading platform suite.

Is TopFX good?
TopFX offers the MetaTrader and cTrader platform suites, and grants access to a medium range of CFD markets and forex pairs. However, TopFX struggles to compete with the best brokers in several categories, including market research and education.

Overall winner: Interactive Brokers

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Trading CFDs, FX, and cryptocurrencies involves a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. All data was obtained from a published website as of 01/10/2022 and is believed to be accurate, but is not guaranteed. The ForexBrokers.com staff is constantly working with its online broker representatives to obtain the latest data. If you believe any data listed above is inaccurate, please contact us using the "Contact" link at the bottom of this page.

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