Billing itself as an "all-in-one broker solution", TopFX provides users with superior and advanced trading environment and competitive pricing to both beginner and professional traders.
Founded in Cyprus in 2010, TopFX pioneers the cTrader mobile app for iOS and Android and helps brokers tailor solutions to trading strategies that helps them achieve success in the industry.
Registering for a TopFX account is no different to almost all online brokerage or trading platforms since it only asks a trader to fill in an online application form before submitting additional requirements to verify a user's identity.
Afterward, the user will have to enter an email and a password as their login information.
There are two account types on TopFX, both of which are available on MetaTrader and cTrader. You can choose between ZERO, a spread-only account, and RAW, a commission-based account. Commissions are charged on the RAW account at 2.75 EUR per side (5.50 EUR per round turn standard lot).
Minimum deposits vary depending on the payment method selected. It should be noted that TopFX does not offer average spreads to assess the true cost of trading. With TopFX Zero Account, users can trade the lowest all-inclusive spreads existing in the market.
An Islamic account is available in both the Zero and Raw accounts of TopFX.
A demo account is offered by the broker for practice purposes. When using the demo account, a user can test their strategies without risk of losing funds while getting a good idea of what the broker offers before investing real money.
With the use of a demo account, traders can also hone their trading skills by perfecting their trading approach — to get ready trading in the real world.
TopFX follows a simple login procedure of only requiring a username and a password. Currently, it has no third-party login like Google or Facebook.
TopFX does not impose any minimum deposit requirements making it faster for any trader to open any account type of the two available on TopFX.
TopFX accepts deposits made through these following channels:
There is no minimum deposit on TopFX. That means you're free to initially fund your account with any amount that you're comfortable with. If you want to deposit $5, you're free to do so but do keep in mind that around $100 to $250 is ideal as a starting capital.
TopFX offers both the MetaTrader 4 (MT4) and the cTrader trading platforms while Autochartist is integrated into cTrader wherein the MT4 comes in a typical developer version.
TopFX's MetaTrader 4 suite is available for both Windows and MacOS operating systems that goes with the website version accessible to all up to date browser. On the cTrader, tool charts come with more than 60 indicators, drawing tools and four variety of charts.
TopFX offers more than 1000 financial assets to trade which includes CFD stocks, energies, ETFs, commodities, forex and indices.
Remember that crypto CFDs are currently not available to users residing in the United Kingdom nor to any retail traders from a UK-based entity broker.
Here are the spreads on TopFX by financial assets:
TopFX doesn't charge any withdrawal fees and trading fees. If you get charged using TopFX, that means you paid for your bank or payment provider and not to TopFX.
TopFX however, charges $5 as inactivity fee for any accounts that has seen no activities for 90 days. Users who choose the commission-based account can get direct access to raw spreads beginning at 0 pips for a commission of $2.75 per lot — or around $5.4 per round lot.
TopFX quotes and prices are derived from real-time market figures and, therefore, are considered accurate and current. We never found any discrepancies with the quotes.
The withdrawal process on TopFX takes only within the same business day as when you submit your withdrawal request. Available withdrawal channels include e-wallets and bank transfers.
Users of TopFX can get in touch with the online brokerage's customer service support via telephone lines, live chat, email or by simply filling out the "contact us" form found on TopFX's website.
Our overall experience with their support agents were highly satisfactory. They take good care of their clients by providing fast and reliable customer service.
TopFX has a reputation in the industry as one of the few with a competitive edge in its pricing environment. TopFX is also known to continue developing an intelligent withdrawal and deposit system. As a liquidity provider since its foundation, TopFX remains one of the most competitive multi financial assets CFD online brokerage in the world.
TopFX is regulated, licensed and authorized by the Cyprus Securities and Exchange Commission (CySEC) and the Cyprus Investment Firm (CIF) in accordance with the rules and guidelines of the Markets in Financial Instruments Directive (MiFID II).
To put it simply, TopFX is allowed under all existing financial laws, to provide trading services to brokers and traders.
When one weighs in the pros and cons of TopFX, one will appreciate this online brokerage more due to several benefits as against to a very few shortcomings. Other than it is a heavily regulated brokerage, TopFX also provides flexibility in terms of the platform's interface, trading conditions and financial instruments it proposes.
A small drawback would be TopFX's less than industry average of educational materials and sources. With a decent number of available financial instruments and a good technology foundation for its platforms MT4 and cTrader, TopFX comes in highly recommended.
