Written by ForexBrokers.com
In this head to head comparison of XM Group 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.
When choosing an online broker, understanding their regulatory background is crucial for ensuring security and peace of mind. XM Group, established in 2009, stands out with four highly respected Tier-1 licenses and a Trust Score of 88, classifying it as a trusted broker. Meanwhile, TopFX, founded in 2010, holds one Tier-1 license and has a Trust Score of 67, which places it in the high-risk category. Neither company is publicly traded or operates as a bank, which is a common status in the online brokerage industry.
XM Group's regulatory credentials suggest a higher level of trustworthiness compared to TopFX. With one additional Tier-2 license and a higher Trust Score, XM Group could be a more reliable choice for those looking to trade with confidence. While both brokers have established their presence in the industry over a decade, XM Group's regulatory achievements provide an edge in credibility and trust.
| Feature |
XM Group
|
TopFX
|
|---|---|---|
| Year Founded | 2009 | 2010 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 4 | 1 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
When examining the commissions and fees associated with XM Group, it's important to note that while their standard account spreads can be on the pricier side, they don't provide specific details on the average spreads for their commission-based XM Zero account. This lack of transparency might make it difficult for potential clients to fully evaluate their cost structure. Despite this, XM Group has earned a 4-star rating in the commissions and fees category and claims the 33rd spot out of 63 brokers according to ForexBrokers.com.
On the other hand, TopFX provides a clearer picture of their fee structure with two distinct account types available on both MetaTrader and cTrader platforms. Their ZERO account has higher average spreads but is commission-free, while the RAW account charges a commission of 2.75 EUR per side, translating to about 0.88 pips in all-in costs for the popular EUR/USD pair. This positions the RAW account competitively within industry standards. TopFX mirrors XM Group's commendable rating with 4 stars for commissions and fees but ranks slightly lower at 40th out of 63 brokers in the same category.
| Feature |
XM Group
|
TopFX
|
|---|---|---|
| Minimum Deposit | $5 | Depends on payment method |
| Average Spread EUR/USD - Standard | 1.6 | 1.03 |
| All-in Cost EUR/USD - Active | 0.8 | 0.88 |
| Active Trader or VIP Discounts | No | 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.
When comparing XM Group and TopFX for the range of investments available, it's clear that both brokers offer forex trading as CFDs or spot contracts, allowing investors to participate in the currency market. XM Group provides a broader selection with 1,394 tradeable symbols, including 55 forex pairs. In contrast, TopFX offers 655 symbols, with a slightly higher number of 60 forex pairs. Both brokers support cryptocurrency derivatives without allowing the purchase of actual delivered cryptocurrencies. Significantly, XM Group's platform enables clients to buy exchange-traded securities on both U.S. and international exchanges, such as Apple and Vodafone shares. On the other hand, TopFX does not offer exchange-traded securities outside of CFDs, placing a restriction on direct investments in individual stocks. Both brokers provide the convenience of copy trading, aiding investors interested in mirroring strategies of experienced traders.
Evaluating the overall range of investments, XM Group outshines TopFX with a 4.5-star rating against 3.5 stars. Reflecting these ratings, XM Group ranks #24 out of 63 brokers by ForexBrokers.com in the Range of Investments category, showing a more comprehensive offering. Meanwhile, TopFX stands at #46, indicating a more limited selection. These distinctions make XM Group a more appealing choice for investors seeking a broader spectrum of investment options, including direct access to international markets and a larger variety of tradeable instruments.
| Feature |
XM Group
|
TopFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1394 | 655 |
| Forex Pairs (Total) | 55 | 60 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | 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.
XM Group and TopFX are both online brokers that excel in providing a range of trading platform options and tools for their clients. Both brokers support simulated (paper) trading through free virtual demo accounts, allowing users to practice and refine their strategies without risking real money. While neither XM Group nor TopFX offers a proprietary platform, they both provide Windows-based desktop downloading platforms and web-based browser trading options. This accessibility ensures traders can choose their preferred method of accessing the market. Both brokers feature MetaTrader 4 (MT4), a popular trading platform, but XM Group goes a step further, also offering MetaTrader 5 (MT5), which may appeal to traders seeking more advanced features.
For those interested in copy trading, both XM Group and TopFX have got you covered. While neither broker supports DupliTrade or ZuluTrade, both include technology that facilitates trading directly from stock charts. Traders will find an equal array of 15 drawing tools for charting from each provider, with seven fields available for watch lists to assist in tracking market movements. Each broker holds a solid 4-star rating for their Trading Platforms and Tools. However, XM Group is ranked slightly higher than TopFX, coming in at 31st place among 63 brokers, whereas TopFX ranks at 45th, according to ForexBrokers.com. This distinction might tip the scales for traders prioritizing comprehensive platform features and broader market access.
| Feature |
XM Group
|
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 | 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.
When evaluating mobile trading apps for brokers, XM Group and TopFX both offer convenient access through iPhone and Android devices. Both brokers provide essential features such as stock or forex price alerts, the ability to draw trendlines on charts, view multiple time frames, and create watchlists with real-time quotes. However, XM Group stands out by allowing users to sync watchlists with the online account, ensuring changes reflect seamlessly across platforms. In contrast, while TopFX does offer auto-saving of chart drawings, it doesn't support watchlist syncing, which may be less convenient for traders juggling both mobile and online interfaces.
Furthermore, both XM Group and TopFX supply 30 technical studies for in-depth chart analysis, keeping them on par in terms of technical offerings. Despite receiving a similar four-star rating for their mobile apps, XM Group ranks higher at #29 compared to TopFX at #51 among 63 brokers, according to ForexBrokers.com. This distinction, alongside the watchlist syncing advantage, may position XM Group as a more integrated option for traders seeking a seamless mobile and online trading experience. Meanwhile, TopFX could appeal to users who prioritize the ease of auto-saving chart annotations.
| Feature |
XM Group
|
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 | No | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When examining market research offerings, XM Group and TopFX present distinct features for traders. XM Group stands out with its daily market commentary and forex news sourced from esteemed platforms such as Bloomberg and Reuters. Additionally, XM provides tools from Trading Central and a sentiment-based trading tool that offers insights into the positioning of long or short trades across various currency pairs. XM also includes an economic calendar that keeps traders informed of upcoming global events, earning a commendable 5-star research rating and a rank of 8th out of 63 brokers according to ForexBrokers.com.
TopFX, while also offering forex news from premium sources and integrating tools from Trading Central and sentiment analysis, does not provide daily market commentary. Instead, TopFX delivers technical analysis through Autochartist, offering a different form of research support for its users. Like XM, TopFX provides an economic calendar for keeping up with global events. However, with a research rating of 3 stars and ranking 60th by ForexBrokers.com, TopFX’s research options may appeal to those looking for specific technical tools rather than comprehensive market commentary.
| Feature |
XM Group
|
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 it comes to educational resources for beginners, XM Group stands out compared to TopFX. XM Group excels by offering a wide range of learning materials for those new to forex or CFDs. They have more than ten educational pieces in various formats like articles, videos, and archived webinars focused on guiding beginners through their trading journey. XM Group also provides online webinars at least once a month, which are stored in a searchable archive for clients to access anytime. Their offerings include at least ten beginner-friendly videos that specifically cover trading topics for newcomers, along with ten videos aimed at more advanced traders.
On the other hand, TopFX falls short in ways that may disappoint beginners who are eager to learn. They do not meet the minimum of ten educational pieces, nor do they offer regular client webinars or an archive of recorded sessions. Additionally, TopFX lacks beginner and advanced educational videos, which makes it challenging for traders to find tailored content for their learning stage. Both brokers do not offer an investor dictionary with investing term definitions, but according to ForexBrokers.com, XM Group's comprehensive approach places them significantly higher in the education category, ranked seventh, compared to TopFX's ranking at sixty-first. Overall, XM Group earns a solid 5-star rating for education, while TopFX gains 3 stars, reflecting the larger educational support XM provides to its traders.
| Feature |
XM Group
|
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) | No | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that XM Group is better than TopFX. XM Group finished with an overall rank of #17, while TopFX finished with an overall rank of #62.
XM Group is a MetaTrader-only broker that offers a strong selection of high-quality educational content and market research.
| Feature |
XM Group
|
TopFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 88 | 67 |
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Both XM Group and TopFX do not offer the ability to buy actual (delivered) cryptocurrency, but they do provide options for trading cryptocurrency derivatives.
XM Group and TopFX both provide Skrill, Visa, Mastercard, and bank wire options for depositing or withdrawing funds, but only TopFX supports PayPal, while neither offers 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 | XM Group | TopFX | |
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| Trust Score | 88 | 67 | |
| Winner | check_circle | ||
| Review | XM Group Review | TopFX Review |
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| Regulation | XM Group | TopFX | |
|---|---|---|---|
| Trust Score | 88 | 67 | |
| Year Founded | 2009 | 2010 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 4 | 1 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | XM Group | 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) | No | 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) | XM Group | TopFX | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | XM Group | TopFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1394 | 655 | |
| Forex Pairs (Total) | 55 | 60 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | 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 | XM Group | TopFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.6 | 1.03 | |
| All-in Cost EUR/USD - Active | 0.8 | 0.88 | |
| Active Trader or VIP Discounts | No | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | XM Group | TopFX | |
|---|---|---|---|
| Minimum Deposit | $5 | 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 | XM Group | 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 | No | No | |
| ZuluTrade | No | No |
| Trading Tools | XM Group | 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 | XM Group | 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 | No | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | XM Group | 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 | XM Group | 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) | No | No |
| Major Forex Pairs | XM Group | 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 | XM Group Review | TopFX Review |
| Overall | XM Group | TopFX | |
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| Trust Score | 88 | 67 | |
| Winner | check_circle | ||
| Review | XM Group Review | TopFX Review |
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