Written by ForexBrokers.com
In this head to head comparison of IronFX 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.
IronFX and TopFX, both established in 2010, offer online brokerage services but differ significantly in their regulatory standings. IronFX boasts a solid reputation with three Tier-1 licenses, which are considered highly trustworthy, giving it a reliable Trust Score of 83, as rated by ForexBrokers.com. Meanwhile, TopFX holds one Tier-1 license, contributing to its lower Trust Score of 67. This score suggests a higher level of risk compared to IronFX, according to ForexBrokers.com's risk assessment standards.
Neither IronFX nor TopFX is publicly traded or operates as a bank, providing equal footing in those respects. However, IronFX's additional Tier-1 licenses and higher Trust Score may make it a more reassuring option for users seeking a trusted brokerage service.
| Feature |
IronFX
|
TopFX
|
|---|---|---|
| Year Founded | 2010 | 2010 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 3 | 1 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
IronFX and TopFX both offer competitive yet distinct commission and fee structures, catering to varying trader preferences. IronFX, despite a 4-star rating for commissions and fees, falls at the 46th position among 63 brokers by ForexBrokers.com. The broker's typical spread for its Standard variable spread account is 1.8 pips, which is higher than the industry average. The zero fixed-spread account starts at zero but comes with an $18 per lot commission and overnight spreads can widen to 3 pips.
TopFX, on the other hand, provides two account types: the spread-only ZERO account and the commission-based RAW account, both available on MetaTrader and cTrader platforms. The RAW account charges a commission of 2.75 EUR per side, totaling 5.50 EUR per round-turn lot. With average spreads of 0.33 pips for the EUR/USD pair in July 2024 and a commission equivalent of 0.55 pips per round-turn, the overall cost comes to around 0.88 pips, which meets the industry standard. The ZERO account, while commission-free, has higher average spreads of 1.03 pips for the EUR/USD pair during the same period.
Ranked at 40th among 63 brokers, TopFX matches IronFX with a 4-star rating in commissions and fees, yet offers more predictable pricing and fee structures, especially for traders keen on low spreads and transparent costs. Both brokers offer options where traders can choose between low commission with slightly higher spreads or no commission with more significant spread costs, allowing each trader to align their choice with their trading strategy.
| Feature |
IronFX
|
TopFX
|
|---|---|---|
| Minimum Deposit | $50 | Depends on payment method |
| Average Spread EUR/USD - Standard | 1.2 | 1.03 |
| All-in Cost EUR/USD - Active | N/A | 0.88 |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | No | 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.
IronFX and TopFX both provide a variety of investment opportunities for traders, each with unique strengths. When it comes to the number of tradeable symbols, IronFX offers 340, while TopFX provides a more extensive list with 655 symbols. Both brokers facilitate forex trading through CFDs or spot contracts, but IronFX has a slight edge with 83 tradeable forex pairs compared to TopFX's 60. Neither broker offers exchange-traded securities on U.S. or international exchanges, limiting stock market exposure through their platforms.
For those interested in cryptocurrency, both IronFX and TopFX allow trading through cryptocurrency derivatives rather than actual digital currencies. Additionally, each broker supports copy trading, which helps newcomers benefit from the expertise of seasoned traders. Evaluating the overall range of investments, both IronFX and TopFX receive a rating of 3.5 stars. However, within ForexBrokers.com's ranking for this category, TopFX holds a slightly higher position at #46 compared to IronFX's ranking at #51 among 63 brokers.
| Feature |
IronFX
|
TopFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 340 | 655 |
| Forex Pairs (Total) | 83 | 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.
IronFX and TopFX both make it easy for new traders to get started by providing free virtual demo accounts, allowing users to practice and familiarize themselves with trading without financial risk. They both offer essential platforms like the popular MetaTrader 4 (MT4), and while neither broker has developed its own proprietary platform, this does not hinder their ability to offer customizable trading experiences. Traders with a preference for Windows-based desktop platforms or web-based browser trading options will find their needs met by both brokers. For those interested in social trading, IronFX and TopFX each support copy trading, opening the door to learning from experienced traders.
When it comes to charting tools and features, IronFX and TopFX offer an equal number of drawing tools, which total 15, and the capability to execute trades directly from stock charts. Users can also construct detailed watch lists, enjoying visibility across seven fields. However, a noticeable difference lies in their user ratings and rankings. IronFX scores 3.5 stars and ranks 61 out of 63 brokers for its trading platforms and tools, whereas TopFX is slightly more favored with 4 stars and holds the 45th position. This comparison suggests that while both brokers provide similar platform functionalities, user preferences tilt towards TopFX for an overall better trading platform experience.
| Feature |
IronFX
|
TopFX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | No | 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 | 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.
Both IronFX and TopFX offer mobile trading apps compatible with iPhone and Android devices, providing traders with the flexibility to manage their portfolios on the go. Each app includes essential features such as stock and forex price alerts and the ability to draw trendlines on charts. Users can explore multiple time frames, like daily, weekly, or intraday, on these apps, which also boast 30 technical studies for in-depth chart analysis. Additionally, these apps allow traders to create watchlists with real-time quotes and save drawings automatically, though they do not offer watchlist symbol syncing between the mobile app and online accounts.
When it comes to user ratings and rankings, there is a noticeable difference between the two brokers. TopFX has a higher user rating of 4 stars for its mobile app, whereas IronFX scores 3.5 stars. In ForexBrokers.com's ranking of 63 brokers for mobile trading apps, TopFX ranks at #51 while IronFX is positioned lower at #62, reflecting a disparity in user satisfaction and perceived app quality. Despite similar core features, these evaluations might influence traders when comparing these two brokers for mobile trading options.
| Feature |
IronFX
|
TopFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | 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 the market research offerings of IronFX and TopFX, IronFX provides a slightly more comprehensive range of features. IronFX delivers daily market commentary and reliable forex news updates from renowned sources like Bloomberg and Reuters. Meanwhile, TopFX matches with access to top-tier forex news but lacks daily commentary. Both brokers offer analytics from Trading Central, known for its technical insights; however, IronFX does not include tools from Autochartist like TopFX does. Without sentiment-based trading tools, IronFX still keeps traders informed with an extensive economic calendar, paralleling TopFX in this regard.
In terms of performance, IronFX earns a higher research rating of four stars, outshining TopFX's three-star rating. This difference is further highlighted by their rankings in the ForexBrokers.com research category, where IronFX ranks at #28, significantly ahead of TopFX's position at #60 among 63 brokers. While neither broker offers research tools from TipRanks or Acuity Trading, IronFX's strong news and commentary elements contribute to its superior ranking and make it a more appealing choice for traders who value detailed market insights.
| Feature |
IronFX
|
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 | No | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational resources available for beginners between IronFX and TopFX, IronFX stands out with a more comprehensive offering. IronFX provides a wide range of educational materials on forex and CFDs, boasting at least 10 pieces that include articles, videos, and archived webinars. For those just starting out, IronFX also offers over 10 beginner-focused educational videos, which are essential for laying a solid foundation in trading. Additionally, IronFX maintains a searchable archive of past webinars, providing a valuable resource for revisiting key educational content. A well-rounded investor dictionary with over 50 trading terms is another tool that IronFX offers to help beginners get accustomed to industry jargon.
In contrast, TopFX lacks the same depth of educational resources. While it provides some educational content, it falls short of offering a substantial number of materials focused specifically on beginners or forex and CFDs in general. TopFX does not maintain a searchable archive of webinars, nor does it provide a comprehensive investor dictionary. As a result, IronFX is rated higher for education, earning 4 out of 5 stars compared to TopFX's 3 stars. This difference is also reflected in their rankings by ForexBrokers.com, with IronFX positioned at 44th place, while TopFX trails behind at 61st. Overall, IronFX offers a more beginner-friendly learning environment, making it a more appealing choice for new traders seeking educational support.
| Feature |
IronFX
|
TopFX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | No | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | No | 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 IronFX is better than TopFX. IronFX finished with an overall rank of #48, while TopFX finished with an overall rank of #62.
IronFX has come a long way to rebuild its brand, acquiring multiple regulatory licenses to improve its Trust Score, and creating balanced educational material. That said, pricing is an area where IronFX has room to further improve as spreads appeared higher than the industry average.
| Feature |
IronFX
|
TopFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 83 | 67 |
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Neither IronFX nor TopFX provides the option to purchase actual delivered cryptocurrencies, but both offer the ability to trade cryptocurrency derivatives.
IronFX and TopFX both facilitate deposits and withdrawals through Skrill, Visa or Mastercard, and bank wires; however, only TopFX provides the option to transact with PayPal, while 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 | IronFX | TopFX | |
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| Trust Score | 83 | 67 | |
| Winner | check_circle | ||
| Review | TopFX Review |
| Broker Screenshots | IronFX | TopFX | |
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| Regulation | IronFX | TopFX | |
|---|---|---|---|
| Trust Score | 83 | 67 | |
| Year Founded | 2010 | 2010 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 3 | 1 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | IronFX | TopFX | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | 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) | IronFX | 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 | IronFX | TopFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 340 | 655 | |
| Forex Pairs (Total) | 83 | 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 | IronFX | TopFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.2 | 1.03 | |
| All-in Cost EUR/USD - Active | N/A | 0.88 | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | IronFX | TopFX | |
|---|---|---|---|
| Minimum Deposit | $50 | Depends on payment method | |
| PayPal (Deposit/Withdraw) | No | 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 | IronFX | TopFX | |
|---|---|---|---|
| Proprietary Platform | No | 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 | No | No |
| Trading Tools | IronFX | 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 | IronFX | TopFX | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | No | 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 | IronFX | TopFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | Yes | |
| Economic Calendar | Yes | Yes |
| Education | IronFX | TopFX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | No | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | No | No | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | IronFX | 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 | IronFX | TopFX | |
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| Trust Score | 83 | 67 | |
| Winner | check_circle | ||
| Review | TopFX Review |
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