ForexBrokers.com is committed to the highest ethical standards and reviews services independently. Learn How We Make Money

TopFX Review

Steven Hatzakis

Written by Steven Hatzakis
Edited by John Bringans
Fact-checked by Blain Reinkensmeyer

June 30, 2025
close
Steven Hatzakis Steven Hatzakis

Steven Hatzakis is the Global Director of Online Broker Research for ForexBrokers.com. He is a forex industry expert and an active fintech and crypto researcher.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

TopFX offers the MetaTrader and cTrader platform suites, and grants access to a medium range of CFD markets and forex pairs. However, TopFX struggles to compete with the best brokers in several categories, including market research and education.

  • Minimum Deposit: Depends on payment method
  • Trust Score: 67
  • Tradeable Symbols (Total): 655
3.5
3.5/5 Stars
OVERALL SCORE
Range of Investments3.5/5 Stars
Commissions & Fees4/5 Stars
Platforms & Tools4/5 Stars
Research3/5 Stars
Mobile Trading4/5 Stars
Education3/5 Stars

Check out ForexBrokers.com's picks for the best forex brokers in 2025.

2025#61
2024#58
2023#57
2022#39

travel_explore Can I open an account with this broker?

Use our country selector tool to view available brokers in your country.

Table of Contents

TopFX pros & cons

thumb_up_off_alt Pros

  • MT4 and cTrader platforms are both supported.
  • Autochartist is integrated into the cTrader platform.
  • RAW account offers low spreads and fair commissions.

thumb_down_off_alt Cons

  • Lacks useful market research.
  • MetaTrader 5 is not offered.
  • Educational content is severely limited.

compare_arrows Compare TopFX with the best forex brokers in the industry

Want to see how TopFX stacks up against the competition? Click here to use our interactive comparison tool and compare TopFX with dozens of top forex brokers.

Trust Score

Developed by ForexBrokers.com and in use for nearly 10 years, Trust Score is a proprietary rating system powered by a range of unique quantitative and qualitative metrics, including each company’s number of regulatory licenses. Trust Scores range from 1 to 99 (the higher a broker’s rating, the better). Learn more.

Is TopFX safe?

Trust Score
67
ForexBrokers.com

TopFX is considered High Risk, with an overall Trust Score of 67 out of 99. TopFX is not publicly traded and does not operate a bank. TopFX is authorised by one Tier-1 regulator (Highly Trusted), zero Tier-2 regulators (Trusted), zero Tier-3 regulators (Average Risk), one Tier-4 regulator (High Risk). TopFX is authorised by the following Tier-1 regulators: Regulated in the European Union via the MiFID passporting system. Learn more about Trust Score.




Feature TopFX logoTopFX
Year Founded info 2010
Publicly Traded (Listed) info No
Bank info No
Tier-1 Licenses info 1
Tier-2 Licenses info 0
Tier-3 Licenses info 0
Tier-4 Licenses info 1

Range of investments

TopFX offers 655 CFDs across a variety of popular asset classes that includes equities, ETFs, commodities, metals, and forex.

Cryptocurrency: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents. Check out our top picks for crypto trading platforms if this is an important offering for you.

Feature TopFX logoTopFX
Forex Trading (Spot or CFDs) info Yes
Tradeable Symbols (Total) info 655
Forex Pairs (Total) info 60
U.S. Stock Trading (Non CFD) info No
Int'l Stock Trading (Non CFD) info No
Social Trading / Copy Trading info Yes
Cryptocurrency (Physical) info No
Cryptocurrency (Derivative) info 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).

TopFX fees

TopFX offers two account types – both of which are available on MetaTrader and cTrader. There’s the spread-only ZERO account, and the commission-based RAW account. The RAW account charges a commission of 2.75 EUR per side (5.50 per round turn standard lot). The minimum deposit depends on your chosen payment method. Based on average spreads of 0.33 pips for the commission-based account for the EUR/USD during July 2024, and the commission equivalent of 0.55 pips per round-turn, the all-in costs is roughly 0.88 pips which is in line with the industry average. For comparison, the ZERO account is commission-free but features higher average spreads of 1.03 pips on the EUR/USD for July 2024.

Feature TopFX logoTopFX
Minimum Deposit info Depends on payment method
Average Spread EUR/USD - Standard info 1.03 info
All-in Cost EUR/USD - Active info 0.88 info
Active Trader or VIP Discounts info No
ACH or SEPA Transfers info No
PayPal (Deposit/Withdraw) info Yes
Skrill (Deposit/Withdraw) info Yes
Visa/Mastercard (Credit/Debit) info Yes
Bank Wire (Deposit/Withdraw) info Yes

Mobile trading apps

With no proprietary mobile app available, TopFX trails behind industry leaders such as IG and Saxo. For our top picks among trading apps, read our guide to Best Forex Trading Apps.

Apps overview: TopFX offers two mobile trading apps: cTrader and MetaTrader 4 (MT4). iOS and Android versions of both apps are available respectively from the Apple App Store and Google Play store.

Feature TopFX logoTopFX
Android App info Yes
Apple iOS App info Yes
Mobile Alerts - Basic Fields info Yes
Watchlist Syncing info No
Mobile Charting - Draw Trendlines info Yes
Mobile Charting - Multiple Time Frames info Yes
Mobile Economic Calendar info Yes
Mobile Charting - Indicators / Studies info 30

Trading platforms

TopFX offers both the cTrader (a good platform option for algo trading) and MetaTrader 4 (MT4) trading platforms. Autochartist is integrated directly into cTrader, but MT4 is the standard out-of-the-box developer version, and there are no notable add-ons to help TopFX stand out from amongst the best MetaTrader brokers.

Platforms overview: The MetaTrader 4 suite is available at TopFX for macOS and Windows operating systems, alongside the web version that can be accessed via any modern browser.

Charting: The MetaTrader platform suite is known for its robust user-friendly charts. Zooming in and out and rearranging windows and tabs is a breeze on MT4. It also supports the ability to drag and drop from the default list of nearly 50 indicators. cTrader charts are equally impressive with 65 indicators, four chart types, and dozens of drawing tools.

Autochartist: TopFX offers cTrader with Autochartist directly integrated to help traders find investment opportunities.

Feature TopFX logoTopFX
Virtual Trading (Demo) info Yes
Proprietary Platform info No
Desktop Platform (Windows) info Yes
Web Platform info Yes
Social Trading / Copy Trading info Yes
MetaTrader 4 (MT4) info Yes
MetaTrader 5 (MT5) info No
DupliTrade info No
ZuluTrade info No
Charting - Indicators / Studies (Total) info 30
Charting - Drawing Tools (Total) info 15
Charting - Trade From Chart info Yes
Watchlists - Total Fields info 7

Research

Market research is lacking at TopFX, which puts it at a disadvantage against most of the brokers I’ve reviewed.

Steven's take:

"I couldn’t find any articles, analysis, videos, or market commentary at TopFX, making it a poor choice for market research – especially when compared to the best brokers in this category."

Steven Hatzakis

steven%20headshot.jpg
Feature TopFX logoTopFX
Daily Market Commentary info No
Forex News (Top-Tier Sources) info Yes
Autochartist info Yes
Trading Central (Recognia) info Yes
Social Sentiment - Currency Pairs info Yes

Education

Educational content at TopFX is largely absent. TopFX’s Facebook page does feature a quarterly recap of stock earnings, some basic platform tutorials, and a few (albeit very brief) educational videos.

Room for improvement: The addition of written articles and an expansion of its range of educational videos would give a needed boost to TopFX’s learning center. The top brokers in this category offer educational videos and articles, and sometimes even quizzes and progress tracking to help you learn about trading and investing. TopFX has lots of space to improve in this category.

Feature TopFX logoTopFX
Education (Forex or CFDs) info No
Client Webinars info No
Client Webinars (Archived) info No
Videos - Beginner Trading Videos info No
Videos - Advanced Trading Videos info No
Investor Dictionary (Glossary) info No

Final thoughts

TopFX has built a good foundation for its platform offering by making both MT4 and cTrader available. It offers a decent variety of instruments, with 655 symbols and 60 forex pairs.

However, TopFX doesn’t offer MT5 or the larger range of markets typically offered by the leading brokers. Moreover, market research is practically non-existent on the TopFX platform, and it lacks meaningful educational content. Finally, publishing its average spread data each month would highlight the true value of its pricing across its two main account types.

TopFX Star Ratings

Feature TopFX logoTopFX
Overall Rating info 3.5/5 Stars
Trust Score info 67
Range of Investments 3.5/5 Stars
Commissions & Fees 4/5 Stars
Platforms & Tools 4/5 Stars
Research 3/5 Stars
Mobile Trading 4/5 Stars
Education 3/5 Stars

ForexBrokers.com has been reviewing online forex brokers for over eight years, and our reviews are the most cited in the industry. Each year, we collect thousands of data points and publish tens of thousands of words of research. Here's how we test.

FAQs

What is the minimum deposit for TopFX?

TopFX offers three types of accounts, each with its own minimum deposit requirement:

  • Zero account: $50
  • Raw account: $5,000
  • VIP account: $50,000

The amount you’ll need to deposit depends on which account type you choose.

Our testing

Why you should trust us

Steven Hatzakis is a well-known finance writer, with 25+ years of experience in the foreign exchange and financial markets. He is the Global Director of Online Broker Research for Reink Media Group, leading research efforts for ForexBrokers.com since 2016. Steven is an expert writer and researcher who has published over 1,000 articles covering the foreign exchange markets and cryptocurrency industries. He has served as a registered commodity futures representative for domestic and internationally-regulated brokerages. Steven holds a Series III license in the US as a Commodity Trading Advisor (CTA).

All content on ForexBrokers.com is handwritten by a writer, fact-checked by a member of our research team, and edited and published by an editor. Our ratings, rankings, and opinions are entirely our own, and the result of our extensive research and decades of collective experience covering the forex industry.

Ultimately, our rigorous data validation process yields an error rate of less than .1% each year, providing site visitors with quality data they can trust. Click here to learn more about how we test.

How we tested

At ForexBrokers.com, our online broker reviews are based on our collected quantitative data as well as the observations and qualified opinions of our expert researchers. Each year we publish tens of thousands of words of research on the top forex brokers and monitor dozens of international regulator agencies (read more about how we calculate Trust Score here).

Mobile testing is conducted on modern devices that run the most up-to-date operating systems available:

  • For Apple, we use MacBook Pro laptops running macOS 15.3, and the iPhone XS running iOS 18.3.
  • For Android, we use the Samsung Galaxy S20 and Samsung Galaxy S23 Ultra devices running Android OS 15.

All websites and web-based platforms are tested using the latest version of the Google Chrome browser.

Our researchers thoroughly test a wide range of key features, such as the availability and quality of watch lists, mobile charting, real-time and streaming quotes, and educational resources – among other important variables. We also evaluate the overall design of the mobile experience, and look for a fluid user experience moving between mobile and desktop platforms.

Forex Risk Disclaimer

There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Read more on forex trading risks.

Read next

More Forex Guides

Popular Forex Broker Reviews

About TopFX

Founded in 2010, TopFX is regulated by the Cyprus Securities and Investment Commission (CySEC) and in Seychelles is a brand of Fondex Limited which is regulated by the Financial Services Authority (FSA).


About the Editorial Team

Steven Hatzakis

Steven Hatzakis is the Global Director of Online Broker Research for ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U.S. as a Commodity Trading Advisor (CTA).

John Bringans

John Bringans is the Managing Editor at ForexBrokers.com. An experienced media professional, John has a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets. He holds a Bachelor’s Degree in English Literature from San Francisco State University, and conducts research on forex and the financial services industry while assisting in the production of content.

Blain Reinkensmeyer

Blain Reinkensmeyer has 20 years of trading experience with over 2,500 trades placed during that time. He heads research for all U.S.-based brokerages on StockBrokers.com and is respected by executives as the leading expert covering the online broker industry. Blain’s insights have been featured in the New York Times, Wall Street Journal, Forbes, and the Chicago Tribune, among other media outlets.

close