TopFX Review

What is TopFX?

TopFX is an STP Forex Broker with high standards of secure trading environment, as of the regulation it imposes. The offering to the clients is wide and even comprehensive since proposes the same if not more investment opportunities to the world trading community.

Throughout its decade-long presence in the CFDs industry, TopFX has offered superior liquidity solutions to over 180 Forex brokers, investment firms, and hedge funds. Over the last years, TopFX enhanced its offering with comprehensive packages for startups, eliminating the high barrier to entering the competitive Forex Industry.

TopFX is an international prime brokerage firm specializing in liquidity provision. The broker has been providing liquidity solutions to brokers and other investment firms since 2010. Their expertise in liquidity provision ensures that traders can trade over 1000 assets across Forex, Shares, Indices, Metals, Energies and other CFDs with the market’s tightest spreads and razor-sharp execution.

(Disclaimer: Risk your own capital)

TopFX Pros and Cons

TopFX is a well-regulated broker based in Cyprus, offering good trading conditions and transparency. Account opening is fast, and there are various trading instruments and platforms available for traders, including advanced cTrader and copy trading.

The cons are lack of education sources and materials (such as webinars, seminars or articles), also international proposal is different to the European one (for example, US citizens can trade only with CFDs).

 

(Disclaimer: Risk your own capital)

Awards

The TopFX broker is one of the most successful brokerage firms in the world. It has been recognized by numerous awards and rewards from popular exhibitors and publishers.

 

Is TopFX safe or a scam

TopFX is not a scam. It’s an authorized and regulated Cyprus Investment Firm (CIF) licensed by the Cyprus Securities and Exchange Commission (CySEC). In simple terms, this means that the broker is regulated and authorized to offer its trading service along with necessary safety measures and controls applied.

Along with the main license, TopFX serves another entity in Seychelles, regulated by Financial Services Authority (FSA). Even though we do not recommend trading with offshore brokers only, additional regulations from Europe provide necessary guidelines complied with safety measures.

(Disclaimer: Risk your own capital)

How are you protected?

TopFX Broker is a regulated and licensed broker, so all client funds are kept securely, completely separate from TopFX’s own funds. TopFX adheres to strict policies and has taken all necessary measures to ensure that client funds are protected. Additionally, all company activities are reviewed on a regular basis by internal and external auditors.

The CySEC has multiple requirements, including capital adequacy, financial reporting to the regulators, and undertaking of a detailed audit, making control over TopFX activity constant and unparalleled.

In addition, TopFX is also a member of the ICF (Investor Compensation Fund) that resolves issues in unlikely events and compensates investors. Read more about CySEC by the link.

TopFX is one of the best brokers in the offshore zone. Even though the additional entity is located in the offshore zone, recently offshores are also creating more strict licensing rules, while in addition to ESMA regulations TopFX is considered as a safe broker to invest and trade with.

 

Leverage

Leverage is the tool by which you may trade a large amount of money, through its capability to magnify the initial balance and therefore money you operate. Yet the probability of profits or losses increases in parallel, which makes it important to learn how to use leverage smartly.

Using leverage enables you to gain a larger exposure to a particular market with a smaller capital. TopFX offers leverage of up to 1:30, which means that for every $1 in your account, you can trade up to $30 in value.

The risk level is defined also by the leverage level you use since higher leverage dramatically increases your high risk to lose money as well. For this reason, world authorities and regulators restrict leverage to use to specify safer levels for retail traders. Therefore, TopFX Cyprus entity together with its operations established under ESMA rules offers lower leverage levels as defined by the regulator. This means that European traders or those clients that are registered with TopFX European entities will fall under ESMA regulation that recently limited Leverage.

• Trading with European TopFX entity the maximum leverage level is set to 1:30 for Forex instruments.

 

(Disclaimer: Risk your own capital)

Account types

TopFX is a direct access broker that offers two account types. You can choose ultra-low spreads, sharp execution on both accounts, therefore, choosing an account type comes down to your personal preference.

RAW account, you get to trade with spreads starting from 0.0 pips and commissions €2.75 per lot per side. The TopFX RAW account is ideal for traders who prefer to receive a raw price feed and pay commissions separately. For some traders it may be a factor contributing to increased order execution transparency, however, the TopFX RAW accounts have the same cost-efficiency like their ZERO accounts.

As a Liquidity Provider, they offer unbeatable pricing that’s hard to find elsewhere. Contrary to the standard industry practice of making the standard, no commission accounts more expensive than the raw spread accounts, TopFX offers the exact same pricing for both types.

When you choose the TopFX ZERO account, you get to trade with some of the lowest all-inclusive spreads in the market. In addition, the broker’s ultra-fast execution and deep liquidity ensure a highly-efficient trading environment.

 

(Disclaimer: Risk your own capital)

Fees

The trading fees are a very important part of choosing a broker. Some brokers charge very low fees, while others charge high fees. In addition, you need to verify that the conditions for trading fee calculation are correct. Fees are calculated according to the account type chosen and the platform used for trading.

Spreads

If you’re looking for a broker that can offer you a wide range of tradable assets and access to the best prices on the market, look no further! We’ve got exactly what you need.

With our broker, you’ll be able to trade 89 currency pairs with spreads from 0.0 pips when you choose the RAW account and 0.5 pips when you choose the ZERO Account. But that’s not all! You can also trade 14 global Indices with spreads starting from 0.4 pips and commissions of €2.75 per lot or opt for an all-inclusive spread account.

And if commodities are more your thing? We’ve got those too! Trade CFDs on Gold or Brent oil with spreads starting from 3 pips. As with FX and Indices, you can either choose a RAW or ZERO account—and don’t forget about our special deals on commissions!

 

(Disclaimer: Risk your own capital)

Instruments

TopFX is a global broker that delivers more than 1000 markets to trade (including most traded instruments, making TopFX FX, Shares, Energies, ETFs, Indices, Metals and Commodity Broker), so international traders can gain access to the world’s premier liquidity providers and global exchanges through sources proprietary aggregator engine with the best possible pricing from tier-1 grade banks.

TopFX provides access to the world’s leading financial markets via its proprietary aggregation engine. This gives traders access to over 1,000 instruments on which they can trade directly with the top tier banks in the world. The company offers the ability for traders to use its direct market access (DMA) platform for trading Forex pairs, CFDs on shares and commodities as well as options contracts on shares or futures contracts on commodities.

 

Deposit and Withdrawal Methods

TopFX is a leading broker with a focus on providing clients with exceptional service. The company offers multiple deposit methods, including credit/debit card, bank wire and e-wallet, among others. TopFX also offers Negative Balance Protection and zero fees on deposits. All client funds are held in segregated accounts with reputable banks.

TopFX charges no fees for deposits and withdrawals, however, you might incur fees charged by your bank or payment provider.

Your funds are kept in segregated accounts at reputable banks, separate from TopFX’s own funds. Therefore, TopFX will never use your funds for operational or other purposes.

Deposit methods

The broker accepts the following payment methods:

1. Bank wire transfer
2. Credit/Debit Cards (Visa, MasterCard)
3. Online payment processors, such as PayPal, Neteller and Skrill

 

TopFX minimum deposit

TopFX requires no minimum deposit, which means you can open any account type of the two offered by the broker with the amount you wish to set up.

 

TopFX minimum deposit vs other brokers

	TopFX	Most Other Brokers
Minimum Deposit	$0	$500

 

Withdrawals

Withdrawing funds from your TopFX account can be done through bank transfers and e-wallets. You can request a withdrawal by completing a withdrawal request form via your TopFX Client Area, which is processed within 1 business day from the day you submit it.

Trading Platforms

TOPFX offers its clients a choice between industry standard MetaTrader4 and cTrader, which is an advanced trading platform that offers a number of additional features.

 

(Disclaimer: Risk your own capital)

MetaTrader 4

TopFX is a MetaTrader4 (MT4) platform that allows you to trade Forex, Indices, Energies and Metals. This platform offers traders a customizable interface, extensive selection of automated trading tools and 9 timeframes.

TopFX is available in multiple languages and supports 1-click trading. The platform offers traders 30+ pre-installed technical analysis indicators, 9 timeframes, Copy trading via PAMM accounts, Trading signals from Trading Central and the ability to build your own robots and custom indicators with MQL4.

cTrader

TopFX cTrader is a great platform for manual trading. It offers advanced technical analysis tools and the ability to combine different trading methods on one interface. As a manual trader, you need a reliable platform that offers a user-friendly interface combined with advanced market analysis and risk management tools.

cTrader features: unlimited watchlists which can be detached and moved around your workspace, detailed symbol information and Live Sentiment data, a wide selection of chart types: Candlesticks, Bar, HLC, Line, Heikin, Dots, Renko and more, 54 timeframes from one minute to one month.

You’ll find all the helpful information on your order’s volume such as pip value, commission cost and required margin right at your fingertips. TopFX cTrader also has 70+ technical analysis indicators such as lines and oscillators so you can combine them in any way you want to help make better trading decisions.

And once you’ve found something that works for you? You can use drag-and drop chart trading to place orders quickly and easily.

Mobile platform

TopFX is a broker that specializes in forex trading. They provide their customers with a variety of tools and services to help them make the most out of their trading experience.

With mobile trading becoming increasingly popular, TopFX has launched their mobile app for both Android and iOS devices. The MT4 mobile app allows you to trade from anywhere and features 3 chart types, 9 timeframes, 24 analytical objects and detailed history of trades. You can create the same order types like on the desktop version and be in total control of your trading account while on the move.

The TopFX cTrader mobile app offers everything you need to maintain the same exceptional user experience of the desktop & web platforms, while you are on the move. It’s available for both Android and iOS and features responsive charting, comprehensive information about the available assets, the full history of executed deals, and a lot more.

(Disclaimer: Risk your own capital)

Customer Support

TOPFX provides clients with a variety of ways to contact the broker’s customer support team. The team can be reached via telephone, email, Live Chat, or by filling the ‘contact us’ form on the broker’s website.

 

Education

We’ve reached the end of our TopFX review, and we’re here to talk about the broker’s education materials.

We saw that TopFX provides educational articles for numerous topics, including Forex News, Market Holidays, and recent market updates.

There is currently no comprehensive education on a global scale, however there are particular regions with very comprehensive education programs like for example Italy, where TopFX conducts at least 2-3 webinars per week. The broker has also initiated educational webinars in Thailand.

(Disclaimer: Risk your own capital)

Conclusion

TopFX is a fully regulated broker, which means that your money is safe with this company. In addition, TopFX offers a wide range of trading conditions, platforms and instruments which is great for experienced traders who want flexibility in their choices. However, the only con could be the lack of education sources and materials so complete beginners would need to search for webinars and courses somewhere else.

 

 

 

IC Markets & Tickmill

Pepperstone & Capital.com

Top FX & HFM

AMarkets & FXTM