Written by ForexBrokers.com
In this head to head comparison of Xtrade 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.
Xtrade and TopFX, both online brokers, provide services in the financial market, but their trust ratings and regulatory credentials differ. Xtrade, founded in 2003, and TopFX, established in 2010, are not publicly traded and neither operates as a bank. Regarding regulatory credentials, both brokers boast one Tier-1 license, aligning them with the highly trusted benchmarks set by ForexBrokers.com. However, Xtrade edges ahead with an additional Tier-2 license, which contributes to a higher Trust Score of 74, categorizing it as average risk.
In comparison, TopFX holds a Trust Score of 67, reflecting a higher risk classification. The absence of a Tier-2 license further distinguishes it from Xtrade in terms of regulatory strength. Though both brokers share commonalities, such as their non-publicly traded status, Xtrade's regulatory portfolio and higher Trust Score make it a potentially more appealing option for those placing a premium on established trust in the brokerage landscape.
| Feature |
Xtrade
|
TopFX
|
|---|---|---|
| Year Founded | 2003 | 2010 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 1 | 1 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
When comparing Xtrade and TopFX in terms of commissions and fees, traders will find notable differences between the two brokers. Xtrade lacks specific average spread data, making it more challenging to gauge the cost-effectiveness of their trading environment. As a result, Xtrade receives a relatively low rating of 2.5 stars out of five for commissions and fees, ranking at the bottom, 63rd out of 63 brokers, according to ForexBrokers.com.
In contrast, TopFX offers more transparency and options with their fee structure. Traders can choose between the ZERO account, which is spread-only and commission-free but features higher average spreads, or the RAW account, which charges a commission of 2.75 EUR per side and boasts competitive average spreads. Over the course of July 2024, the RAW account had an all-in cost of roughly 0.88 pips for the EUR/USD pair, which is about average for the industry. With such offerings, TopFX earns a more favorable rating of 4 stars and is ranked 40th out of 63 brokers.
For traders seeking clarity and competitive pricing, TopFX stands out as a more transparent and potentially cost-effective choice compared to Xtrade. The flexibility of choosing between a spread-only or a commission-based account with clear cost calculations gives TopFX an edge in this comparison.
| Feature |
Xtrade
|
TopFX
|
|---|---|---|
| Minimum Deposit | $250 | Depends on payment method |
| Average Spread EUR/USD - Standard | N/A | 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) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing the range of investments offered by Xtrade and TopFX, both brokers provide options for forex trading as CFDs or spot contracts, making them viable choices for forex enthusiasts. Xtrade offers 482 tradeable symbols, including 56 forex pairs, whereas TopFX provides a slightly larger pool with 655 tradeable symbols and 60 forex pairs. However, neither broker offers direct access to exchange-traded securities on U.S. or international exchanges, which means investors cannot buy stocks like Apple or Vodafone directly through these platforms.
Both brokers allow trading in cryptocurrency derivatives but do not facilitate the buying of actual cryptocurrencies. A notable difference is in social trading, where TopFX edges ahead by offering copy trading, a feature absent from Xtrade's platform. Despite these distinctions, both brokers have the same rating of 3.5 stars for their range of investments. On ForexBrokers.com, Xtrade ranks 49th, slightly behind TopFX's 46th position, among 63 brokers assessed in this category.
| Feature |
Xtrade
|
TopFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 482 | 655 |
| Forex Pairs (Total) | 56 | 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 Xtrade and TopFX for trading platforms and tools, both brokers offer the advantage of simulated (paper) trading with free virtual demo accounts. Xtrade stands out with its proprietary platform, tailored to provide a unique user experience, while TopFX leans on widely recognized third-party platforms. Notably, TopFX supports a Windows-based desktop trading platform and the popular MetaTrader 4 (MT4), offering users a more traditional desktop experience and familiar trading interface. Both brokers provide accessible web-based platforms, allowing traders flexibility in how they engage with the market. However, TopFX offers the additional benefit of copy trading, a feature absent in Xtrade, which could appeal to those looking to replicate the strategies of successful traders.
In terms of technical tools, Xtrade sets itself apart with a significant number of drawing tools, boasting 100 options compared to TopFX's 15. This can be particularly advantageous for traders who rely heavily on technical analysis. Both platforms offer the ability to trade directly from stock charts, adding convenience to the trading process. Xtrade provides watch lists with 9 columns, slightly more than the 7 offered by TopFX, offering a more detailed view for monitoring trades and market conditions. Despite these differences, TopFX receives a higher user rating with 4 stars compared to Xtrade's 3.5 stars, and is ranked #45 out of 63 brokers by ForexBrokers.com, indicating a marginally higher overall satisfaction among users when it comes to trading platforms and tools.
| Feature |
Xtrade
|
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) | N/A | 30 |
| Charting - Drawing Tools (Total) | 100 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 9 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both Xtrade and TopFX offer iPhone and Android apps for traders on the go. However, the offerings within these apps differ significantly. Xtrade does not provide stock or forex price alerts, while TopFX offers them for instant updates. Similarly, TopFX allows users to apply trendlines to charts and supports multiple time frame views, enhancing trading insights directly via mobile. Xtrade lacks these features, which may be a disadvantage for traders seeking detailed chart analyses on the move.
When it comes to creating real-time watchlists, TopFX again comes out ahead by facilitating this feature, unlike Xtrade. Additionally, TopFX's app saves chart drawings automatically, making it more user-friendly for technical analysis. Despite these differences in features, both Xtrade and TopFX achieved an identical rating of 4 out of 5 stars for their mobile trading apps. In terms of rankings, Xtrade is placed at #53 and TopFX at #51 out of 63 brokers according to ForexBrokers.com, indicating a slightly higher preference for TopFX in the mobile trading category.
| Feature |
Xtrade
|
TopFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | No | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | N/A | 30 |
| Mobile Charting - Draw Trendlines | No | Yes |
| Mobile Charting - Multiple Time Frames | No | Yes |
| Mobile Charting - Drawings Autosave | No | Yes |
| Mobile Watchlist | No | Yes |
Dive deeper: Best Forex Trading Apps.
When it comes to market research offerings, Xtrade and TopFX each have their distinct strengths. Xtrade provides daily market commentary and an economic calendar, aiding traders in staying informed about current and upcoming economic events. Additionally, Xtrade stands out by delivering forex news from leading sources like Bloomberg and Reuters. On the other hand, TopFX does not offer daily commentary but matches Xtrade in providing top-tier forex news and also features an economic calendar.
TopFX excels in its use of advanced research tools compared to Xtrade. It offers tools like Autochartist and Trading Central's Technical Analytics, which are valuable for traders seeking comprehensive analysis support. Furthermore, TopFX provides a sentiment-based trading tool that displays the market's position ratios, a feature not available with Xtrade. Despite these advantages, Xtrade holds a slightly higher research rating of 3.5 stars compared to TopFX's 3 stars, partly due to its more straightforward research offerings. According to ForexBrokers.com, Xtrade ranks at #52, while TopFX is a bit lower at #60, reflecting the nuanced distinctions in their research services.
| Feature |
Xtrade
|
TopFX
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | No | 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 it comes to educational resources for beginners, Xtrade takes a slightly more comprehensive approach than TopFX. Xtrade offers a selection of educational materials focused on forex or CFDs, providing over ten resources such as articles, videos, and archived webinars. Additionally, Xtrade enhances its educational offerings with an investor dictionary, featuring definitions for over 50 investing terms, making it easier for newcomers to familiarize themselves with industry jargon. However, Xtrade lacks in providing monthly webinars, archives of past webinars, or beginner-specific video content, which may limit the learning experience for certain individuals.
On the other hand, TopFX falls short in comparison, offering fewer educational resources in the realm of forex and CFDs. It does not meet the minimum requirement of ten educational pieces and also lacks an investor dictionary. Similar to Xtrade, TopFX does not provide monthly webinars, archive access, or beginner-focused video content. Consequently, Xtrade is rated slightly higher in educational offerings with 3.5 stars compared to TopFX’s 3 stars, and ranks higher at #46 in the education category on ForexBrokers.com, whereas TopFX is placed at #61. While both brokers could enhance their educational support, Xtrade manages to cater a bit better to the learning needs of beginners.
| Feature |
Xtrade
|
TopFX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | No | No |
| Client Webinars (Archived) | No | No |
| Videos - Beginner Trading Videos | No | 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 Xtrade is better than TopFX. Xtrade finished with an overall rank of #60, while TopFX finished with an overall rank of #62.
Xtrade offers forex and CFD traders its own newly updated and redesigned trading platform, yet with just below 500 symbols that you can trade and recent regulatory issues it trails behind the best forex brokers.
| Feature |
Xtrade
|
TopFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 74 | 67 |
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Both Xtrade and TopFX do not offer the ability to buy actual delivered cryptocurrency, but they do allow trading in cryptocurrency derivatives.
When comparing online brokers Xtrade and TopFX in terms of deposit and withdrawal options, neither supports ACH or SEPA transfers, Xtrade lacks PayPal support unlike TopFX, both offer Skrill, Visa or Mastercard, and bank wire transactions.
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 | Xtrade | TopFX | |
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| Trust Score | 74 | 67 | |
| Winner | check_circle | ||
| Review | Xtrade Review | TopFX Review |
| Broker Screenshots | Xtrade | TopFX | |
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| Regulation | Xtrade | TopFX | |
|---|---|---|---|
| Trust Score | 74 | 67 | |
| Year Founded | 2003 | 2010 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 1 | 1 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | Xtrade | 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). | Yes | Yes |
| Tier-2 Licenses (Trusted) | Xtrade | 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 | Xtrade | TopFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 482 | 655 | |
| Forex Pairs (Total) | 56 | 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 | Xtrade | TopFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | N/A | 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 | Xtrade | TopFX | |
|---|---|---|---|
| Minimum Deposit | $250 | 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 | Xtrade | 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 | Xtrade | TopFX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | No | Yes | |
| Watchlists - Total Fields | 9 | 7 | |
| Charting - Indicators / Studies (Total) | N/A | 30 | |
| Charting - Drawing Tools (Total) | 100 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | No | Yes |
| Mobile Trading | Xtrade | TopFX | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | No | Yes | |
| Mobile Watchlist | No | Yes | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | N/A | 30 | |
| Mobile Charting - Draw Trendlines | No | Yes | |
| Mobile Charting - Multiple Time Frames | No | Yes | |
| Mobile Charting - Drawings Autosave | No | Yes | |
| Mobile Economic Calendar | No | Yes |
| Research | Xtrade | TopFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Xtrade | TopFX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | No | No | |
| Client Webinars (Archived) | No | No | |
| Videos - Beginner Trading Videos | No | No | |
| Videos - Advanced Trading Videos | No | No | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | Xtrade | 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 | Xtrade Review | TopFX Review |
| Overall | Xtrade | TopFX | |
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| Trust Score | 74 | 67 | |
| Winner | check_circle | ||
| Review | Xtrade Review | TopFX Review |
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