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TickmillTopFX Review
Written by Steven Hatzakis
Edited by John Bringans
Fact-checked by Blain Reinkensmeyer
Steven HatzakisSteven 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
| Range of Investments | |
| Commissions & Fees | |
| Platforms & Tools | |
| Research | |
| Mobile Trading | |
| Education |
Check out ForexBrokers.com's picks for the best forex brokers in 2025.
| 2025 | #61 |
| 2024 | #58 |
| 2023 | #57 |
| 2022 | #39 |
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Table of Contents
TopFX pros & cons
Pros
- MT4 and cTrader platforms are both supported.
- Autochartist is integrated into the cTrader platform.
- RAW account offers low spreads and fair commissions.
Cons
- Lacks useful market research.
- MetaTrader 5 is not offered.
- Educational content is severely limited.
Compare TopFX with the best forex brokers in the industry
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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?
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
|
|---|---|
| Year Founded | 2010 |
| Publicly Traded (Listed) | No |
| Bank | No |
| Tier-1 Licenses | 1 |
| Tier-2 Licenses | 0 |
| Tier-3 Licenses | 0 |
| Tier-4 Licenses | 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
|
|---|---|
| Forex Trading (Spot or CFDs) | Yes |
| Tradeable Symbols (Total) | 655 |
| Forex Pairs (Total) | 60 |
| U.S. Stock Trading (Non CFD) | No |
| Int'l Stock Trading (Non CFD) | No |
| Social Trading / Copy Trading | Yes |
| Cryptocurrency (Physical) | No |
| Cryptocurrency (Derivative) | 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
|
|---|---|
| Minimum Deposit | Depends on payment method |
| Average Spread EUR/USD - Standard | 1.03 |
| All-in Cost EUR/USD - Active | 0.88 |
| Active Trader or VIP Discounts | No |
| ACH or SEPA Transfers | No |
| PayPal (Deposit/Withdraw) | Yes |
| Skrill (Deposit/Withdraw) | Yes |
| Visa/Mastercard (Credit/Debit) | Yes |
| Bank Wire (Deposit/Withdraw) | 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
|
|---|---|
| Android App | Yes |
| Apple iOS App | Yes |
| Mobile Alerts - Basic Fields | Yes |
| Watchlist Syncing | No |
| Mobile Charting - Draw Trendlines | Yes |
| Mobile Charting - Multiple Time Frames | Yes |
| Mobile Economic Calendar | Yes |
| Mobile Charting - Indicators / Studies | 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
|
|---|---|
| Virtual Trading (Demo) | Yes |
| Proprietary Platform | No |
| Desktop Platform (Windows) | Yes |
| Web Platform | Yes |
| Social Trading / Copy Trading | Yes |
| MetaTrader 4 (MT4) | Yes |
| MetaTrader 5 (MT5) | No |
| DupliTrade | No |
| ZuluTrade | No |
| Charting - Indicators / Studies (Total) | 30 |
| Charting - Drawing Tools (Total) | 15 |
| Charting - Trade From Chart | Yes |
| Watchlists - Total Fields | 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."
| Feature |
TopFX
|
|---|---|
| Daily Market Commentary | No |
| Forex News (Top-Tier Sources) | Yes |
| Autochartist | Yes |
| Trading Central (Recognia) | Yes |
| Social Sentiment - Currency Pairs | 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
|
|---|---|
| Education (Forex or CFDs) | No |
| Client Webinars | No |
| Client Webinars (Archived) | No |
| Videos - Beginner Trading Videos | No |
| Videos - Advanced Trading Videos | No |
| Investor Dictionary (Glossary) | 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
|
|---|---|
| Overall Rating |
|
| Trust Score | 67 |
| Range of Investments |
|
| Commissions & Fees |
|
| Platforms & Tools |
|
| Research |
|
| Mobile Trading |
|
| Education |
|
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.
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.
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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 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 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 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.