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FOREX.com vs TopFX 2022

BrokerNotes.co

Written by BrokerNotes.co

November 08, 2022

Trying to decide between FOREX.com and TopFX? Weโ€™ve taken the guesswork out of the equation with our Comparison Tool. Use our tool to compare hundreds of data points, side-by-side, to see how these two brokers stack up against each other.

Based on our extensive research, hands-on testing, and expert analysis of over a hundred data-driven variables, we've determined that, overall, FOREX.com ranks more highly than TopFX.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 65% and 82% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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Overall RatingFOREX.comTopFXIG
Overall Rating8.7 / 106.5 / 109.7 / 10
Account TypeFOREX.comTopFXIG
Standard Trade Size (100,000 units)YesYesYes
Mini Trade Size (10,000 units)YesYesYes
Micro Trade Size (1,000 units)YesYesYes
Islamic AccountYesYesNo
Copy TradingFOREX.comTopFXIG
Social Trading / Copy TradingNoYesYes
DupliTradeNoNoNo
ZuluTradeNoNoNo
CryptocurrencyFOREX.comTopFXIG
Cryptocurrency (Physical)NoNoNo
Cryptocurrency (CFD)YesYesYes
BitcoinYesYesYes
ethereumYesYesYes
Forex Trading (Spot or CFDs)FOREX.comTopFXIG
Forex Trading (Spot or CFDs)YesYesYes
Mobile Trading - Forex or CFDsYesYesYes
Indices (Index CFDs)FOREX.comTopFXIG
DAXYesYesYes
Dow JonesYesYesYes
FTSEYesYesYes
NASDAQ 100YesYesYes
NikkeiYesYesYes
SP 500YesYesYes
InvestmentsFOREX.comTopFXIG
Forex Trading (Spot or CFDs)YesYesYes
Spread BettingNoNoYes
Social Trading / Copy TradingNoYesYes
MetalsYesYesYes
EnergiesYesYesYes
AgriculturalsYesNoYes
ETFYesYesYes
U.S. Stocks (CFD)YesYesYes
Trading PlatformsFOREX.comTopFXIG
Apple iOS AppYesYesYes
Android AppYesYesYes
Proprietary PlatformYesNoYes
Desktop Platform (Windows)YesYesYes
Web PlatformYesYesYes
MetaTrader 4 (MT4)YesYesYes
MetaTrader 5 (MT5)YesNoNo
Regulatory LicensesFOREX.comTopFXIG
Tier-1 Licenses407
ASIC Authorised (Australia)NoNoYes
IIROC Authorised (Canada)YesNoNo
FCA Authorised (U.K.)YesNoYes
SFC Authorised (Hong Kong)NoNoNo
MAS Authorised (Singapore)NoNoYes
FINMA Authorised (Switzerland)NoNoYes
CFTC Registered (USA)YesNoYes
Tier-2 Licenses212
Tier-3 Licenses101
Research, EducationFOREX.comTopFXIG
Trading Central (Recognia)YesYesNo
Forex News (Top-Tier Sources)YesYesYes
Daily Market CommentaryYesNoYes
AutochartistNoYesYes
Investor Dictionary (Glossary)YesNoYes
Videos - Beginner Trading VideosYesNoYes
Client Webinars (Archived)NoNoYes
Trading CostsFOREX.comTopFXIG
Minimum Initial Deposit$100Depends on payment methodยฃ250.00
Average Spread EUR/USD - Standard1.0 (July 2022)N/A0.86 (September 2022)
All-in Cost EUR/USD - Active1.0 (July 2022)N/A0.5957 (September 2022)
Active Trader or VIP DiscountsYesNoYes
Bank Wire (Deposit/Withdraw)YesYesYes
Visa/Mastercard (Credit/Debit)YesYesYes
PayPal (Deposit/Withdraw)YesYesYes
Trading ToolsFOREX.comTopFXIG
Watchlists - Total Fields20714
Mobile WatchlistYesYesYes
Charting - Indicators / Studies (Total)2033033
Mobile Charting - Indicators / Studies883033
Trust FactorsFOREX.comTopFXIG
Year Founded199920101974
Publicly Traded (Listed)YesNoYes
BankNoNoYes
Authorised in European UnionYesNoYes
Trust Score996799
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FOREX.com vs TopFX Comparison

Comparing forex brokers side by side is no easy task. For our 2022 annual forex broker review, we spent hundreds of hours assessing 39 forex and CFD brokerages to find the best forex broker. Let's compare FOREX.com vs TopFX.

Can I trust FOREX.com?

FOREX.com has a trust score of 99, giving it a "Highly Trusted" trust label. Here's what each trust score label means:

  • "Highly Trusted" (90-99) - These brokers are considered the most trustworthy firms in the industry. Simply put, we would not hesitate to open and fund an account with a Highly Trusted broker.
  • "Trusted" (80-89) - These brokers are reliable and trustworthy. "Trusted" firms are a solid choice, and may simply hold fewer regulatory licences or feature different corporate structures than those brokers that have earned our top Trust Score rating.
  • "Average Risk" (70-79) - Average Risk brokers are firms we generally consider to be safe, but that may warrant a closer inspection before you open and fund a live trading account. At the least, we always encourage traders to check the regulatory licenses for Average Risk firms to verify that they are regulated in their own country of residence.
  • "High Risk" (60-69) - High-risk firms should be scrutinized and carefully reviewed before opening an account. These forex brokers are โ€“ in most cases โ€“ operating without credible regulatory licensing, and likely have a history of legal or financial issues. Before considering an account with a high-risk firm, we recommend checking our country guides for your country of residence to see if a more trusted broker is available.
  • "Do Not Trust" (<59) - We do not recommend opening an account of any kind with a broker that earns a โ€œDo Not Trustโ€ rating.

Can I trust TopFX?

TopFX has a trust score of 67, giving it a "High Risk" trust label.

Is FOREX.com a good broker?

Is TopFX a good broker?

TopFX lags behind the industry average when it comes to market research and education, yet offers a growing selection of markets that you can trade on the MetaTrader and cTrader platforms.

What tier-1 jurisdictions is each broker regulated in?

Tier-1 regulators go above and beyond by requiring additional capital requirements, checking in on brokers more frequently, and putting brokers through a tougher screening process. FOREX.com is IIROC Authorised (Canada), FSA Authorised (Japan), FCA Authorised (U.K.) and CFTC Registered (USA), while TopFX is none., neither have ASIC Authorised (Australia), SFC Authorised (Hong Kong), CBI Authorised (Ireland), MAS Authorised (Singapore), FMA Authorised (New Zealand) and FINMA Authorised (Switzerland)

What tier-2 jurisdictions is each broker regulated in? What about tier-3?

Tier-2 and tier-3 licenses are still important in evaluating the overall trustworthiness of forex brokers. As far as tier-2 licenses go, FOREX.com is CySEC Authorised (Cyprus) and DFSA / Central Bank Authorised (UAE), while TopFX is CySEC Authorised (Cyprus)., neither have CBRC Authorised (China), SEBI Authorised (India), ISA Authorised (Israel), CBR Authorised (Russia), FSCA Authorised (South Africa) and SEC Authorised (Thailand). When comparing tier-3 licenses FOREX.com is CIMA Authorised (Cayman Islands), while TopFX is none., neither have SCB Authorised (Bahamas), IFSC Authorised (Belize), BMA Authorised (Bermuda), FSC Authorised (British Virgin Islands), FSC Authorised (Mauritius) and VFSC Authorised (Vanuatu).

Which broker offers more trading platforms?

For trading platforms FOREX.com supports a Proprietary Platform and Desktop Platform (Windows), whereas TopFX supports a Desktop Platform (Windows) and cTrader., neither have DupliTrade and ZuluTrade

Does FOREX.com offer MetaTrader? Does TopFX offer MetaTrader?

For MetaTrader FOREX.com provides MetaTrader 4 (MT4) and MetaTrader 5 (MT5), while TopFX provides MetaTrader 4 (MT4). If MetaTrader is a must for you, read our guides on the best MT4 brokers or best MT5 brokers.

How do FOREX.com and TopFX differ in terms of minimum deposit? What about average spreads and funding options?

FOREX.com requires a minimum deposit of $100, while TopFX requires a minimum deposit of Depends on payment method. From our testing we found FOREX.com offers spreads of 1.0 (July 2022), while TopFX offers spreads of N/A. FOREX.com supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and PayPal (Deposit/Withdraw) for popular funding options, where TopFX supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit), PayPal (Deposit/Withdraw) and Skrill (Deposit/Withdraw).

Which brokers offers more tradeable asset classes, FOREX.com or TopFX?

FOREX.com offers a more diverse selection of investment options than TopFX allowing you to trade Forex Trading (Spot or CFDs), Metals, Energies, Agriculturals, ETF and U.S. Stocks (CFD)., neither have Spread Betting Looking at total tradeable symbols, FOREX.com has 5500, compared to 655 from TopFX.

Can I trade cryptocurrency with FOREX.com or TopFX?

Crypto trading is popular with forex traders. Most crypto assets are offered either as the underlying physical asset or as a CFD or other derivative โ€” including spot forex contracts. In terms of trading physical cryptocurrency neither FOREX.com nor TopFX allow you to trade physical cryptocurrencies.

Who offers more research tools, FOREX.com or TopFX?

In terms of research and research tools FOREX.com gives traders the following tools: Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources) and Trading Central (Recognia). In comparison TopFX has the tools listed here: Autochartist, Forex News (Top-Tier Sources), Trading Central (Recognia) and Social Trading / Copy Trading.

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