TopFX was established in 2010 and is overseen by the Financial Services Authority (FSA) in Seychelles and the Cyprus Securities and Investment Commission (CySEC) in Cyprus. TopFX is a brand of Fondex Limited in Cyprus.

Access to a moderate selection of CFD markets and forex pairs is provided by TopFX, which also provides the MetaTrader and cTrader platform suites. In contrast, TopFX finds it difficult to compete with the top brokers in a number of areas, including market analysis and education.

Trading Instruments TopFX

TopFX provides 548 CFDs in 5 popular asset classes, including forex, commodities, metals, ETFs, stocks, and commodities.

Cryptocurrency: Neither U.K. residents nor retail traders from any broker’s U.K. entity may purchase crypto CFDs.

• 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 (CFD) Yes
  
  

Fees and commissions

Both of the two account types that TopFX offers are accessible on cTrader and MetaTrader. There is the commission-based RAW account as well as the spread-only ZERO account. The commission for the RAW account is 2.75 EUR per side (5.50 EUR for a round turn standard lot). The minimum deposit varies depending on the payment method you select. Remember: Average spreads are not available to determine the actual cost of trading with TopFX.

TopFX Trading Platforms

Overview of apps: cTrader and MetaTrader 4 (MT4) are the two mobile trading apps that TopFX offers. Both apps have respective iOS and Android versions that can be downloaded from the Apple App Store and Google Play store.

Both the cTrader and MetaTrader 4 (MT4) trading platforms are available from TopFX. MT4 is the standard out-of-the-box developer version, and there are no noteworthy add-ons to help TopFX stand out from the best MetaTrader and cTrader brokers. However, Autochartist is directly integrated into cTrader.

Overview of available platforms: TopFX offers the MetaTrader 4 suite for use with Windows, macOS, and its web-based counterpart, which can be accessed using any current web browser.

Charting: The suite of MetaTrader platforms is renowned for its powerful, nimble charts. On MT4, it’s simple to zoom in and out and rearrange windows and tabs. Additionally, it supports dragging and dropping items from the nearly 50 indicators on the default list. The charts on cTrader are equally impressive, featuring four different chart types, 65 indicators, and numerous drawing tools.

TopFX provides cTrader with a direct Autochartist integration to aid traders in identifying investment opportunities.

Education TopFX

Most educational materials are missing from TopFX. A quarterly recap of stock earnings, some fundamental platform tutorials, and a few (albeit very brief) educational videos are all available on TopFX’s Facebook page.

There is room for improvement: TopFX’s learning center could use the addition of written articles and the broadening of its selection of instructional videos. To assist you in learning about trading and investing, the top brokers in this category provide educational videos, articles, and occasionally even tests and progress tracking. In this area, TopFX has a lot of room for improvement.

Conclusion on TopFX

By making MT4 and cTrader accessible, TopFX has established a solid foundation for its platform offering. With 548 symbols and 45 forex pairs, it offers a respectable range of instruments.
TopFX, however, does not provide MT5 or the wider selection of markets that the top brokers typically provide. The TopFX platform also has little to no market research and offers little in the way of useful educational materials. The true value of its pricing across its two primary account types would be highlighted by publishing its average spread data each month.