TopFX

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	Official Website
Popularity
Leverage	1:500
Minimum Deposit	$100
Regulation	CySEC, FCA, FSA
Payment Methods	Bank transfer, Credit/Debit card, E-wallets
Trading Assets	Forex, Commodities, Indices, Stocks, Cryptocurrencies
MT4	✅
MT5	✅
Spreads	Very low
Average cost: EUR/USD	0.4 pips
Demo Account	✅
Islamic Account	✅
MAM	✅
PAMM	✅
CopyTrading	✅
ZuluTrade	❌
Scalping	Yes
Signals	✅
EAs/Robots	Available
Negative Balance Protection	Yes
Deposit Fee	❌
Withdrawal Fee	❌
Inactivity Fee	Yes
Year Established	2010
Address	1 Ayias Zonis, Limassol, Cyprus
Contact Information	Email: [email protected] | Phone: +357 2525 0000 | Live Chat
Mobile Trading APP
Rating	★★★★ 4.0
Website	Official Website

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Pros and Cons

Introduction

TopFX is a global multi-asset brokerage firm offering institutional-level trading services to retail clients.

Established in 2010, the company has built a solid reputation for its comprehensive asset range, competitive trading conditions, and customer-centric approach.

With a focus on delivering seamless trading experiences, the broker provides clients with access to advanced trading platforms, low spreads, and a wide array of financial instruments.

In this review, we will delve into the core aspects of the broker’s offerings, including its regulatory framework, trading platforms, trading conditions, asset range, account types, and customer support.

Regulatory Framework

One of the most critical factors for traders when choosing a broker is regulatory compliance.

The company is fully regulated and authorized by several prominent regulatory authorities:

• Cyprus Securities and Exchange Commission (CySEC): As a Cyprus Investment Firm, it complies with the European Union’s MiFID II regulations, ensuring transparent and fair trading practices.
• Financial Conduct Authority (FCA): Registered in the UK, it also adheres to the rigorous standards set by the FCA for financial services.
• Financial Services Authority (FSA): In Seychelles, TopFX operates under the oversight of the FSA, allowing it to cater to international markets.

Its adherence to these strict regulatory standards provides traders with assurance of a secure and transparent trading environment.

Additionally, clients’ funds are kept in segregated bank accounts and are protected by compensation schemes, ensuring further security.

Trading Platforms

TopFX offers two robust trading platforms, MetaTrader 4 (MT4) and MetaTrader 5 (MT5), enabling traders to choose the one that best fits their trading needs.

MetaTrader 4

MT4, the industry standard trading platform, is known for its user-friendly interface and comprehensive charting tools.

Some notable features include:

• Customizable charts: Tailor the interface to suit individual trading styles.
• Technical analysis tools: Access to over 30 built-in technical indicators and various graphical objects.
• Expert Advisors (EAs): Automated trading via custom or pre-built algorithms.
• Mobile trading: Trade on the go with iOS and Android apps.

MetaTrader 5

MT5 offers more advanced features and enhanced analytical capabilities compared to MT4, catering to traders who need a more comprehensive trading platform.

Key features include:

• Extended market depth: Full market depth and pricing transparency.
• Advanced analysis tools: More than 80 technical indicators and analytical objects.
• Economic calendar: Stay updated with economic events and news impacting the markets.
• Multi-currency strategy testing: Backtest trading strategies on different asset classes.

Trading Conditions

The broker is known for providing competitive trading conditions, which are particularly appealing to both retail and institutional traders.

Spreads and Fees

• Spreads: Variable spreads are offered across different account types. For the popular EUR/USD pair, spreads start as low as 0.1 pips for ECN accounts.
• Commission: ECN accounts incur a commission of $2.75 per lot, which is competitive compared to other brokers. Standard accounts, however, are commission-free with slightly higher spreads.
• Inactivity Fee: An inactivity fee applies to accounts that remain dormant for more than six months.
• Deposit and Withdrawal Fees: There are no deposit or withdrawal fees for most payment methods. However, traders should consult their payment provider for any additional charges.

Leverage

TopFX provides flexible leverage options tailored to different trading instruments:

• Forex: Up to 1:500 leverage for major currency pairs.
• Commodities and Indices: Up to 1:100 leverage.
• Cryptocurrencies: Limited to 1:5 due to higher volatility.

Execution

TopFX operates with an ECN (Electronic Communication Network) execution model, ensuring clients receive the best available bid and ask prices directly from liquidity providers.

The broker guarantees no dealing desk intervention, allowing for faster order execution and minimizing slippage.

Asset Range

This broker stands out for its extensive range of trading assets, enabling traders to diversify their portfolios and explore different market opportunities.

The broker offers over 600 trading instruments across multiple asset classes:

• Forex: Trade over 80 currency pairs, including majors, minors, and exotic pairs.
• Commodities: Access gold, silver, oil, and other key commodities.
• Indices: Trade CFDs on major global indices such as the S&P 500, FTSE 100, and Nikkei 225.
• Stocks: Invest in CFDs of major companies like Apple, Microsoft, and Tesla.
• Cryptocurrencies: Trade popular cryptocurrencies such as Bitcoin, Ethereum, and Ripple.

Account Types

TopFX understands that traders have varying needs and preferences, which is why it offers two primary account types: Raw Account and Zero Account.

Each caters to a specific style of trading, ensuring that both novice and experienced traders can find suitable trading conditions.

Raw Account

The Raw Account is ideal for traders seeking the tightest spreads available.

This account uses an Electronic Communication Network (ECN) model, providing direct market access to liquidity providers.

Key Features

• Spreads: From 0.0 pips (EUR/USD pair).
• Commission: $2.75 per lot per side.
• Execution Model: ECN.
• Leverage: Up to 1:500.
• Trading Platforms: MT4 and MT5.
• Minimum Deposit: $100.

Zero Account

The Zero Account provides a commission-free trading experience with spreads starting from 1.0 pips.

This account type is suited for traders who prefer straightforward pricing.

Key Features

• Spreads: Starting from 1.0 pips.
• Commission: None.
• Execution Model: Market Maker.
• Leverage: Up to 1:500.
• Trading Platforms: MT4 and MT5.
• Minimum Deposit: $100.

Additional Account Features

Both account types come with additional features that enhance the trading experience for all users:

1. Islamic Accounts: Swap-free accounts are available for traders who follow Islamic principles.
2. Demo Accounts: Practice trading without risking real capital. Perfect for beginners or those looking to test new strategies.
3. Copy Trading: Follow professional traders’ strategies and automate your trading decisions.
4. Negative Balance Protection: Safeguards clients from losses beyond their account balance.

With these flexible options and a range of powerful features, TopFX ensures that every trader can find an account type that aligns with their trading objectives and preferences.

Copy Trading

Their Copy Trading feature allows traders to follow the strategies of experienced traders automatically.

With access to thousands of verified strategy providers, traders can choose the ones best aligned with their risk tolerance and financial goals.

How Copy Trading Works

1. Select a Strategy Provider: Browse through verified traders and analyze their trading history.
2. Allocate Capital: Decide how much capital to allocate to the strategy provider.
3. Follow Automatically: The platform will automatically replicate the provider’s trades in your account.

Customer Support

The company prides itself on its responsive customer support.

Traders can reach the support team via multiple channels:

• Email: Send queries to [email protected].
• Phone: Contact their support line at +357 2525 0000.
• Live Chat: Instant assistance through the live chat feature on the website.

Support is available 24/5 in multiple languages, ensuring clients receive timely and relevant assistance.

Education and Resources

It also provides clients with various educational resources to enhance their trading skills:

• Webinars and Seminars: Attend live webinars or in-person seminars conducted by industry experts.
• Video Tutorials: Learn how to navigate trading platforms and analyze the markets.
• Market Analysis: Access daily market updates, fundamental analysis, and trading insights.

Conclusion

TopFX has firmly established itself as a reliable and competitive broker in the global trading community.

With its advanced trading platforms, extensive asset range, competitive trading conditions, and commitment to customer support, it is well-positioned to meet the diverse needs of retail and institutional traders.

Whether you are a beginner seeking an intuitive platform or a professional looking for advanced analytical tools and ultra-tight spreads, TopFX is a strong choice for achieving your trading goals.

User Reviews

Video: How to become an IB

Frequently Asked Questions (FAQ)

Resources

• Official Website
• Google Play
• Apple Store
• X (Twitter)
• Trustpilot
• YouTube
• LinkedIn
• Facebook
• Instagram

Our experts

This article has been written, edited and reviewed by the following members of our team:

Feng Zhou

Feng Zhou, a seasoned author and financial expert, boasts a diverse portfolio of articles recognized by prestigious publications such as Bloomberg, Global Asia, and BizLeaders. Graduating from the University of Hong Kong marked the inception of Mr. Zhou's journey into the financial sector. Initially delving into financial statement audits for both publicly traded and privately held clients, he honed his skills before furthering his education at Hong Kong Polytechnic University. During his tenure, Feng Zhou contributed significantly to the valuation of privately held businesses, engaged in forensic accounting, and provided litigation-related services. His professional trajectory also includes valuable experience at Nezu Asia Capital Management, a prominent hedge fund giant. Demonstrating entrepreneurial spirit, Feng Zhou founded a financial asset management company and frequently shares his expertise as a guest lecturer at various Chinese MBA programs. His prolific writing extends beyond traditional platforms, with articles featured in a range of industry events and publications, including FoxTrade, The MoneyShow, London Summit, and iFX EXPO. With a keen eye for market trends and a wealth of experience, Feng Zhou continues to be a prominent voice in the financial landscape.

Sandro Pontedra

Sandro Pontedra is the mastermind behind the insightful financial analysis and educational content that FoxTrade readers have come to rely on. With a rich academic background from Università di Bologna and the University of Milan, Sandro has built a career that spans across private wealth management and financial analysis, culminating in his role as Chief Accounting Officer for a prominent firm. An avid trader with over a decade of experience in the markets, Sandro combines his hands-on trading knowledge with a keen analytical mind, offering FoxTrade readers a unique blend of practical advice and in-depth market insights. His work, recognized by major financial publications, reflects his passion for finance and commitment to demystifying complex financial concepts. Sandro is dedicated to empowering readers with the knowledge and tools needed to navigate the financial markets confidently. Whether you're a seasoned investor or new to trading, his articles provide valuable insights into investment strategies, market analysis, and the future of finance and technology.

Stephane Dubois

Stephane Dubois stands at the forefront of financial analysis and industry expertise, driving innovation and insight across global markets. With a diverse academic background in International Relations and World Economy, coupled with practical experience spanning government projects and private sector endeavors across five continents, Stephane brings a wealth of knowledge and perspective to his role. As a senior editor at FoxTrade, Stephane oversees the publication of insightful content, ensuring that readers receive accurate and timely analysis to navigate the complexities of the financial world. His leadership and editorial guidance have been instrumental in shaping the platform into a trusted source of information for investors and traders alike. Beyond his editorial responsibilities, Stephane is revered as a leading analyst in the online broker industry. His insights have been instrumental in shaping strategies and decision-making for executives worldwide. Stephane's expertise isn't confined to the boardroom; he is also an esteemed business school professor, with an MBA from Columbia University and prior experience at Goldman Sachs. Stephane's impact extends beyond the confines of academia and corporate settings. He has spoken and moderated panels at prestigious events globally, earning citations from esteemed publications such as Finance Monthly, The Journal of Finance, and Financial Analysts Journal. His contributions to industry discussions cover a wide array of topics, from forex strategies to stock market catalysts, earning him recognition as a thought leader in the financial world.

Alternatives

Rank	Broker	Review
1	XM
2	XTB
3	FBS
4	RoboForex
5	JustMarkets
6	xChief
7	Exness
8	eToro
9	Markets.com
10	IC Markets

Last update: May 6, 2024