Written by ForexBrokers.com
In this head to head comparison of Moneta 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.
Moneta Markets and TopFX are two online brokers that offer trading services, each with its own regulatory standing. Established in 2009, Moneta Markets is not publicly traded nor a bank, and it holds a Trust Score of 71 out of 99 from ForexBrokers.com, reflecting an average risk level. The broker holds no Tier-1 licenses, which are highly trusted, but does have one Tier-2 license, indicating a trusted status. On the other hand, TopFX has been in operation since 2010 and is also neither publicly traded nor a bank. It has a Trust Score of 67, considered high risk by ForexBrokers.com standards. However, it distinguishes itself by holding one Tier-1 license, showcasing its higher level of regulatory trust compared to Moneta Markets.
When deciding between these two brokers, traders might consider the importance of licensing and trust scores. While Moneta Markets carries a slightly higher Trust Score, indicating a marginally lower risk, TopFX’s possession of a Tier-1 license suggests a stronger regulatory backing. Understanding these nuances can help traders make informed choices based on their priorities surrounding broker reliability and security.
| Feature |
Moneta Markets
|
TopFX
|
|---|---|---|
| Year Founded | 2009 | 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 |
Moneta Markets offers a diverse range of trading account options catering to different needs, featuring both commission-based and commission-free accounts. The Direct STP account is commission-free, but clients should expect higher forex spreads, with an average of 1.38 pips for the EUR/USD pair as of August 2023. On the other hand, the Prime ECN account provides a more competitive option with an average spread of 0.194 pips for the EUR/USD pair and a commission of $3 per side for every 100,000 units. This results in an all-in cost of about 0.79 pips, which is slightly below the industry average. Additionally, the Ultra ECN account demands a substantial $20,000 deposit but offers even tighter spreads and a $2 commission per round-turn lot, making it attractive for high-volume traders.
TopFX, in comparison, presents two primary account options: the spread-only ZERO account and the commission-based RAW account, both accessible via MetaTrader and cTrader platforms. While the ZERO account is free from commissions and comes with higher average spreads of 1.03 pips on the EUR/USD pair as of July 2024, the RAW account charges a commission of 2.75 EUR per side (or 5.50 per round turn standard lot) with lower average spreads of 0.33 pips. The all-in cost for the RAW account hovers around 0.88 pips, aligning closely with the industry average. It’s important to note that the minimum deposit for TopFX accounts varies depending on the payment method chosen.
In terms of ratings, Moneta Markets earns a commendable 4.5 stars for its commissions and fees, ranking #16 out of 63 brokers according to ForexBrokers.com. Meanwhile, TopFX receives a 4-star rating and is ranked #40 among its peers. Although Moneta Markets stands out with its cost-effective Ultra ECN account, both brokers offer competitive options that cater to traders of all levels.
| Feature |
Moneta Markets
|
TopFX
|
|---|---|---|
| Minimum Deposit | $50 | Depends on payment method |
| Average Spread EUR/USD - Standard | 1.38 | 1.03 |
| All-in Cost EUR/USD - Active | 0.79 | 0.88 |
| Active Trader or VIP Discounts | No | 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.
Moneta Markets stands out with an impressive offering of 1,016 tradeable symbols, surpassing TopFX's 655 symbols. Both platforms provide forex trading as a CFD or spot contract, but TopFX offers a bit more diversity in forex pairs with 60 options compared to Moneta Markets' 45. While neither broker provides access to exchange-traded securities on U.S. or international exchanges, they both accommodate copy trading and the trading of cryptocurrency derivatives.
Moneta Markets holds a slight edge over TopFX in the range of investments, boasting a four-star rating against TopFX's 3.5 stars. Ranked #35 out of 63 brokers by ForexBrokers.com, Moneta Markets displays a wider array of investment options, while TopFX ranks at #46. These features make Moneta Markets a slightly more versatile option for investors exploring a range of CFD-based assets, including those interested in cryptocurrency derivatives.
| Feature |
Moneta Markets
|
TopFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1016 | 655 |
| Forex Pairs (Total) | 45 | 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.
When comparing the trading platforms and tools offered by Moneta Markets and TopFX, both brokers provide a broad range of options for traders. They each support paper trading, enabling clients to practice with virtual demo accounts. Neither broker has developed a proprietary platform in-house, but both offer popular platforms like MetaTrader 4. Moneta Markets stands out by also supporting MetaTrader 5, which TopFX does not provide. Additionally, Moneta Markets offers access to DupliTrade for copy trading, which isn't available with TopFX. Both brokers cater to traders who prefer a desktop experience with Windows-based platforms and those who opt for the convenience of trading directly from a web browser.
Though both Moneta Markets and TopFX excel in enabling trades directly from stock charts, Moneta Markets offers more comprehensive charting tools with 78 drawing tools compared to TopFX's 15. On the other hand, TopFX provides a more detailed watch list feature, with seven columns, while Moneta Markets offers four. Both brokers are rated four stars for their platforms and tools, yet Moneta Markets ranks higher at #33, compared to TopFX's #45 out of 63 brokers according to ForexBrokers.com. Overall, while both brokers are well-equipped to meet traders' needs, Moneta Markets may appeal more to those requiring advanced features and tools.
| Feature |
Moneta Markets
|
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) | Yes | No |
| DupliTrade | Yes | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 105 | 30 |
| Charting - Drawing Tools (Total) | 78 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 4 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Moneta Markets and TopFX both offer mobile trading apps that cater to users on both iPhone and Android devices. Their apps ensure traders have access to stock and forex price alerts, as well as charting capabilities with 30 technical studies and the ability to draw trendlines. Users can also switch between multiple time frames, from daily to intraday, and enjoy the convenience of auto-saving their chart drawings. Furthermore, both apps enable the creation of watchlists with real-time quotes, which helps traders stay on top of market movements.
Where Moneta Markets distinguishes itself is in providing watchlist symbol syncing, where changes made in the mobile app automatically reflect in the client's online account, and vice versa, whereas TopFX lacks this feature. Both platforms received an equal four-star rating for their mobile trading apps, indicating a strong performance across the board. However, Moneta Markets ranks slightly higher at #35 out of 63 brokers in the mobile trading apps category, compared to TopFX, which ranks #51. This ranking difference might influence prospective users when choosing an app that tends to their trading needs more efficiently.
| Feature |
Moneta 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.
Moneta Markets stands out in the market research landscape by offering daily market commentary, giving traders timely insights to inform their decisions. Both Moneta Markets and TopFX provide access to forex news from top-tier sources like Bloomberg and Reuters, ensuring traders stay updated with the latest market developments. Moreover, both brokers feature Trading Central tools, adding depth to their research offerings. While Moneta Markets offers a sentiment-based trading tool, where traders can view the ratio of long or short positions across instruments, this feature is also available with TopFX.
Despite lacking Autochartist tools, Moneta Markets enriches its service with an economic calendar and secures a higher research rating of four out of five stars, as opposed to TopFX's three-star rating. Ranking #32 out of 63 brokers on ForexBrokers.com, Moneta Markets significantly leads TopFX, which sits at #60. Both brokers do not provide market research from TipRanks or tools from Acuity Trading, leaving room for future enhancements. This comparison shows Moneta Markets as a more comprehensive choice for market research resources among these two brokers.
| Feature |
Moneta Markets
|
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 | Yes | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing Moneta Markets and TopFX regarding educational resources for beginners, Moneta Markets clearly takes the lead. Moneta Markets offers a comprehensive selection of over 10 educational pieces, including articles, videos, and access to recorded webinars, primarily focused on forex and CFDs—a crucial advantage for beginners eager to build a solid foundation in trading. They also provide a searchable archive of previously recorded webinars, making it easier for learners to find information at their own pace. In addition, beginners can access more than 10 videos specifically designed to introduce them to trading topics, coupled with over 10 advanced videos for those who wish to deepen their understanding as they gain experience. Furthermore, Moneta Markets offers an investor dictionary with definitions of at least 50 investing terms, making complex jargon more approachable.
In contrast, TopFX falls short in several areas when it comes to educational offerings. Although they offer some resources, they do not provide the same depth as Moneta Markets. They lack both a sizable collection of beginner and advanced educational videos and a searchable archive of past webinars. Additionally, TopFX offers fewer than 10 educational pieces concentrated on forex and CFDs and no investor dictionary, which might make it more challenging for beginners to familiarize themselves with key terminology. These limitations are reflected in their ratings: Moneta Markets scores a respectable 4 stars for education and ranks 33rd out of 63 brokers on ForexBrokers.com. Meanwhile, TopFX has a more modest 3-star rating and is positioned at 61st in the same category.
| Feature |
Moneta Markets
|
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 | 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 Moneta Markets is better than TopFX. Moneta Markets finished with an overall rank of #35, while TopFX finished with an overall rank of #62.
Moneta Markets is a new brand under parent company Vantage Group, which offers traders the MetaTrader suite of platforms as well as a basic web and mobile app. While it does support a decent range of third-party features, Moneta Markets has lackluster research and educational offerings, and its pricing is average.
| Feature |
Moneta Markets
|
TopFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 71 | 67 |
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While both Moneta Markets and TopFX provide options for trading cryptocurrency derivatives, neither offers the capability to purchase actual delivered cryptocurrencies, focusing instead on derivatives for market exposure.
Moneta Markets and TopFX both provide Visa, Mastercard, and bank wire options for account fund transactions, but TopFX distinguishes itself by also accepting PayPal and Skrill, unlike Moneta Markets, which does not offer these payment methods.
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 | Moneta Markets | TopFX | |
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| Trust Score | 71 | 67 | |
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| Review | Moneta Markets Review | TopFX Review |
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| Regulation | Moneta Markets | TopFX | |
|---|---|---|---|
| Trust Score | 71 | 67 | |
| Year Founded | 2009 | 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) | Moneta 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) | Moneta 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 | Moneta Markets | TopFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1016 | 655 | |
| Forex Pairs (Total) | 45 | 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 | Moneta Markets | TopFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.38 | 1.03 | |
| All-in Cost EUR/USD - Active | 0.79 | 0.88 | |
| Active Trader or VIP Discounts | No | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | Moneta Markets | TopFX | |
|---|---|---|---|
| Minimum Deposit | $50 | 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 | Moneta Markets | 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) | Yes | No | |
| cTrader | No | Yes | |
| DupliTrade | Yes | No | |
| ZuluTrade | No | No |
| Trading Tools | Moneta Markets | TopFX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 4 | 7 | |
| Charting - Indicators / Studies (Total) | 105 | 30 | |
| Charting - Drawing Tools (Total) | 78 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Moneta 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 | Moneta Markets | 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 | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Moneta Markets | 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 | Yes | No | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | Moneta 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 | Moneta Markets Review | TopFX Review |
| Overall | Moneta Markets | TopFX | |
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| Trust Score | 71 | 67 | |
| Winner | check_circle | ||
| Review | Moneta Markets Review | TopFX Review |
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