Written by ForexBrokers.com
In this head to head comparison of Spreadex 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.
Founded in 1999, Spreadex is a well-established online broker that holds one Tier-1 license, marking it in the "average risk" category with a Trust Score of 71 according to ForexBrokers.com. Although not publicly traded nor a bank, Spreadex has carved out a niche in the online trading community over the years. This status indicates a moderate level of safety for those considering trading with them.
TopFX, established in 2010, also holds a single Tier-1 license, which suggests a similar level of credibility in terms of regulatory approval. However, its Trust Score stands at 67, classifying it as "high risk." Like Spreadex, TopFX is not publicly traded and does not operate as a bank. Those who choose TopFX should be aware of its lower trust score, which might be a factor to weigh when deciding between these two online brokers.
| Feature |
Spreadex
|
TopFX
|
|---|---|---|
| Year Founded | 1999 | 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 | 0 | 1 |
When comparing the commissions and fees of Spreadex and TopFX, each broker offers distinct pricing structures that appeal to different trading preferences. Spreadex is noted for its competitive average spreads of 0.81 pips for the EUR/USD in January 2024, with the ability to reach a minimum spread of 0.6 pips 60% of the time during that month. This provides a consistent and favorable trading environment, earning Spreadex a rating of 4 stars for its commissions and fees. According to ForexBrokers.com, Spreadex holds the 27th position out of 63 brokers in this category.
TopFX, on the other hand, provides traders with the flexibility of two distinct account types. The RAW account offers lower average spreads of 0.33 pips for EUR/USD but includes a commission fee of 2.75 EUR per side, which brings the all-in cost to approximately 0.88 pips per round turn. The ZERO account is commission-free, featuring higher average spreads of 1.03 pips for the same currency pair. This enables traders to choose their preferred balance between spread and commission. TopFX also receives a 4-star rating for its competitive fee structure, but is ranked slightly lower at 40th place by ForexBrokers.com.
Ultimately, both Spreadex and TopFX present viable and cost-effective options for traders, offering a mix of spread and commission-based pricing tailored to varied trading strategies. Investors may choose Spreadex for its consistent low spreads, while TopFX offers flexibility with its distinct account options, allowing traders to select based on their specific trading needs.
| Feature |
Spreadex
|
TopFX
|
|---|---|---|
| Minimum Deposit | $0 | Depends on payment method |
| Average Spread EUR/USD - Standard | 0.81 | 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) | 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.
When comparing the investment offerings of Spreadex and TopFX, it’s clear that both brokers cater to forex traders with access to CFD contracts for currency trading. Spreadex stands out with a comprehensive selection of 10,000 tradeable symbols, while TopFX offers a more limited set of 655. Though Spreadex trails slightly behind TopFX in the number of forex pairs available—offering 52 compared to TopFX's 60—it still earns a higher rating of 5 stars for its range of investments, compared to TopFX's 3.5 stars. Neither broker provides access to exchange-traded securities such as shares on U.S. or international exchanges, focusing instead on derivatives and CFDs.
In terms of added functionalities, Spreadex does not support copy trading, a feature that TopFX does offer, giving some advantage to those interested in mimicking the trades of successful investors. Nonetheless, both brokers provide options for trading cryptocurrency derivatives, without the possibility of purchasing the actual cryptocurrency. Within the competitive landscape of 63 brokers reviewed by ForexBrokers.com, Spreadex holds a stronger position, ranked at number 13 for its range of investments, compared to TopFX, which stands at number 46. This suggests that for investors prioritizing a broad spectrum of investment options, Spreadex might be the more appealing choice.
| Feature |
Spreadex
|
TopFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 10000 | 655 |
| Forex Pairs (Total) | 52 | 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 Spreadex and TopFX, both brokers offer a simulated trading feature through free virtual demo accounts, making it easy for beginners to practice before committing real funds. Spreadex stands out with its proprietary platform, giving users a unique experience tailored by their team, although it lacks a Windows desktop version. TopFX, on the other hand, provides both a web-based platform and a Windows-based desktop download, broadening the choice for users who prefer desktop trading. Moreover, TopFX supports MetaTrader 4 (MT4) and includes copy trading features, which Spreadex does not offer.
In terms of technical tools, Spreadex and TopFX both enable trading directly from stock charts, catering to traders who prefer a streamlined experience. While Spreadex offers more customization with eight watch list columns, TopFX provides a slightly higher number of drawing tools for charting. Despite these differences, both brokers received a similar four-star rating for their trading platforms and tools. Although TopFX slightly edges out in the ForexBrokers.com rankings, coming in at 45th compared to Spreadex's 46th position, choosing between the two largely depends on whether a proprietary platform or a wider range of tools and compatibility with MT4 is more important to you.
| Feature |
Spreadex
|
TopFX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | 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) | 58 | 30 |
| Charting - Drawing Tools (Total) | 11 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 8 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both Spreadex and TopFX provide mobile trading apps for iPhone and Android, allowing users to trade on the go. These apps offer essential features, such as stock and forex price alerts, and the capability to draw trendlines on charts. Users can view charts in various time frames, from daily to intraday. However, neither broker supports watchlist symbol syncing, which means changes to watchlists in the mobile app don't reflect in their online accounts, and vice versa. While Spreadex doesn't include automatic saving of chart drawings, TopFX does, adding a bit more convenience for users focused on technical analysis.
When it comes to charting capabilities, TopFX stands out with 30 technical studies available, whereas information about the number of technical studies on Spreadex's mobile app is not readily available. Both brokers allow the creation of watchlists with real-time quotes, enhancing the trading experience. Overall, both apps are well-regarded, with each receiving a 4-star rating for their mobile trading offerings. Interestingly, Spreadex is ranked slightly higher, at 46 out of 63 brokers in the Mobile Trading Apps category by ForexBrokers.com, compared to TopFX, which is ranked at 51.
| Feature |
Spreadex
|
TopFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | N/A | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | No | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing Spreadex and TopFX for market research offerings, Spreadex stands out with its provision of daily market commentary—a feature not available with TopFX. Both brokers provide forex news from major sources such as Bloomberg and Reuters, enhancing traders' access to critical market insights. However, when it comes to tools from Trading Central, TopFX offers a technical edge that Spreadex does not, despite both offering tools from Autochartist.
Both brokers also offer sentiment-based trading tools and economic calendars to keep traders informed on positions and global events. Notably, neither broker offers market research from TipRanks or Acuity Trading's Signal Centre. Spreadex earns a higher research rating of four stars, ranking at #31 out of 63 brokers, versus TopFX’s three-star rating and #60 position. This suggests Spreadex may offer a more comprehensive research experience overall.
| Feature |
Spreadex
|
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 | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, Spreadex stands out compared to TopFX. Spreadex provides a range of educational content, including over ten pieces specifically focused on forex and CFDs, as well as more than ten beginner-friendly trading videos. This makes it an appealing option for new traders looking to enhance their understanding of trading fundamentals. Additionally, Spreadex offers an investor dictionary containing definitions of over 50 investing terms, further aiding beginners in familiarizing themselves with key concepts. These resources contribute to Spreadex's 4-star education rating and its ranking of #45 among 63 brokers by ForexBrokers.com.
On the other hand, TopFX falls short in the educational department, with fewer learning materials available to support novice traders. It does not provide the minimum educational content for forex and CFDs, nor does it offer a substantial selection of beginner-focused videos or an investor dictionary with essential investing definitions. Consequently, TopFX is rated 3 stars for education and ranks #61 out of 63 brokers, indicating that beginners may need to look elsewhere for comprehensive learning resources. Neither Spreadex nor TopFX offer monthly webinars or archived sessions, which might be a consideration for traders seeking interactive learning formats.
| Feature |
Spreadex
|
TopFX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | 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) | Yes | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that Spreadex is better than TopFX. Spreadex finished with an overall rank of #39, while TopFX finished with an overall rank of #62.
Spreadex is an FCA-regulated broker in the UK, offering forex and CFDs, and is well known for its sports betting business, and proprietary web trading platforms. Spreadex still has considerable room to improve, in key categories such as research and education, compared to the best forex brokers.
| Feature |
Spreadex
|
TopFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 71 | 67 |
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Both Spreadex and TopFX provide the facility to trade cryptocurrency derivatives, yet neither offers the ability to purchase actual, delivered cryptocurrencies.
When comparing online brokers Spreadex and TopFX for deposit and withdrawal options, both support Visa/Mastercard and bank wire transactions, but only TopFX allows funding via PayPal and Skrill, with neither offering 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 | Spreadex | TopFX | |
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| Trust Score | 71 | 67 | |
| Winner | check_circle | ||
| Review | Spreadex Review | TopFX Review |
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| Regulation | Spreadex | TopFX | |
|---|---|---|---|
| Trust Score | 71 | 67 | |
| Year Founded | 1999 | 2010 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes | |
| Tier-1 Licenses | 1 | 1 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Spreadex | 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). | No | Yes |
| Tier-2 Licenses (Trusted) | Spreadex | 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 | Spreadex | TopFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 10000 | 655 | |
| Forex Pairs (Total) | 52 | 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 | Spreadex | TopFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.81 | 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 | Spreadex | TopFX | |
|---|---|---|---|
| Minimum Deposit | $0 | 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 | Spreadex | 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 | Spreadex | TopFX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 8 | 7 | |
| Charting - Indicators / Studies (Total) | 58 | 30 | |
| Charting - Drawing Tools (Total) | 11 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Spreadex | 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 | N/A | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | No | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Spreadex | TopFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Spreadex | TopFX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | 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) | Yes | No |
| Major Forex Pairs | Spreadex | 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 | Spreadex Review | TopFX Review |
| Overall | Spreadex | TopFX | |
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| Trust Score | 71 | 67 | |
| Winner | check_circle | ||
| Review | Spreadex Review | TopFX Review |
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