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Moneta Markets vs TopFX 2022

BrokerNotes.co

Written by BrokerNotes.co

November 08, 2022

Trying to decide between Moneta Markets 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, Moneta Markets 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 RatingMoneta MarketsTopFXIG
Overall Rating7.3 / 106.5 / 109.7 / 10
Account TypeMoneta MarketsTopFXIG
Standard Trade Size (100,000 units)YesYesYes
Mini Trade Size (10,000 units)YesYesYes
Micro Trade Size (1,000 units)YesYesYes
Islamic AccountYesYesNo
Copy TradingMoneta MarketsTopFXIG
Social Trading / Copy TradingYesYesYes
DupliTradeYesNoNo
ZuluTradeYesNoNo
CryptocurrencyMoneta MarketsTopFXIG
Cryptocurrency (Physical)NoNoNo
Cryptocurrency (CFD)YesYesYes
BitcoinYesYesYes
ethereumYesYesYes
Forex Trading (Spot or CFDs)Moneta MarketsTopFXIG
Forex Trading (Spot or CFDs)YesYesYes
Mobile Trading - Forex or CFDsYesYesYes
Indices (Index CFDs)Moneta MarketsTopFXIG
DAXYesYesYes
Dow JonesYesYesYes
FTSEYesYesYes
NASDAQ 100YesYesYes
NikkeiYesYesYes
SP 500YesYesYes
InvestmentsMoneta MarketsTopFXIG
Forex Trading (Spot or CFDs)YesYesYes
Spread BettingNoNoYes
Social Trading / Copy TradingYesYesYes
MetalsYesYesYes
EnergiesYesYesYes
AgriculturalsYesNoYes
ETFYesYesYes
U.S. Stocks (CFD)YesYesYes
Trading PlatformsMoneta MarketsTopFXIG
Apple iOS AppYesYesYes
Android AppYesYesYes
Proprietary PlatformNoNoYes
Desktop Platform (Windows)YesYesYes
Web PlatformYesYesYes
MetaTrader 4 (MT4)YesYesYes
MetaTrader 5 (MT5)YesNoNo
Regulatory LicensesMoneta MarketsTopFXIG
Tier-1 Licenses207
ASIC Authorised (Australia)YesNoYes
IIROC Authorised (Canada)NoNoNo
FCA Authorised (U.K.)NoNoYes
SFC Authorised (Hong Kong)NoNoNo
MAS Authorised (Singapore)NoNoYes
FINMA Authorised (Switzerland)NoNoYes
CFTC Registered (USA)NoNoYes
Tier-2 Licenses112
Tier-3 Licenses001
Research, EducationMoneta MarketsTopFXIG
Trading Central (Recognia)YesYesNo
Forex News (Top-Tier Sources)YesYesYes
Daily Market CommentaryYesNoYes
AutochartistNoYesYes
Investor Dictionary (Glossary)NoNoYes
Videos - Beginner Trading VideosYesNoYes
Client Webinars (Archived)NoNoYes
Trading CostsMoneta MarketsTopFXIG
Minimum Initial Deposit$50Depends on payment methodยฃ250.00
Average Spread EUR/USD - Standard1.27 (September 2022)N/A0.86 (September 2022)
All-in Cost EUR/USD - Active0.77 (September 2022)N/A0.5957 (September 2022)
Active Trader or VIP DiscountsNoNoYes
Bank Wire (Deposit/Withdraw)YesYesYes
Visa/Mastercard (Credit/Debit)YesYesYes
PayPal (Deposit/Withdraw)NoYesYes
Trading ToolsMoneta MarketsTopFXIG
Watchlists - Total Fields4714
Mobile WatchlistYesYesYes
Charting - Indicators / Studies (Total)1023033
Mobile Charting - Indicators / Studies303033
Trust FactorsMoneta MarketsTopFXIG
Year Founded200920101974
Publicly Traded (Listed)NoNoYes
BankNoNoYes
Authorised in European UnionYesNoYes
Trust Score716799
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Moneta Markets 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 Moneta Markets vs TopFX.

Can I trust Moneta Markets?

Moneta Markets has a trust score of 71, giving it a "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 Moneta Markets a good broker?

Moneta Markets, part of the Vantage Group, is an up and coming brand that provides MetaTrader alongside its own web and mobile apps. That said, its pricing, education, and research still have room to improve if it wants to compete with the best forex brokers.

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. Moneta Markets is ASIC Authorised (Australia), while TopFX is none., neither have IIROC Authorised (Canada), SFC Authorised (Hong Kong), CBI Authorised (Ireland), FSA Authorised (Japan), MAS Authorised (Singapore), FMA Authorised (New Zealand), FINMA Authorised (Switzerland), FCA Authorised (U.K.) and CFTC Registered (USA)

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, Moneta Markets is FSCA Authorised (South Africa), while TopFX is CySEC Authorised (Cyprus)., neither have CBRC Authorised (China), SEBI Authorised (India), ISA Authorised (Israel), CBR Authorised (Russia), SEC Authorised (Thailand) and DFSA / Central Bank Authorised (UAE). When comparing tier-3 licenses unfortunately, neither Moneta Markets nor TopFX are SCB Authorised (Bahamas), IFSC Authorised (Belize), BMA Authorised (Bermuda), FSC Authorised (British Virgin Islands), CIMA Authorised (Cayman Islands), FSC Authorised (Mauritius) and VFSC Authorised (Vanuatu)., neither have VFSC Authorised (Vanuatu).

Which broker offers more trading platforms?

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

Does Moneta Markets offer MetaTrader? Does TopFX offer MetaTrader?

For MetaTrader Moneta Markets 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 Moneta Markets and TopFX differ in terms of minimum deposit? What about average spreads and funding options?

Moneta Markets requires a minimum deposit of $50, while TopFX requires a minimum deposit of Depends on payment method. From our testing we found Moneta Markets offers spreads of 1.27 (September 2022), while TopFX offers spreads of N/A. Moneta Markets supports Bank Wire (Deposit/Withdraw) and Visa/Mastercard (Credit/Debit) 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, Moneta Markets or TopFX?

Moneta Markets offers a more diverse selection of investment options than TopFX allowing you to trade Forex Trading (Spot or CFDs), Social Trading / Copy Trading, Metals, Energies, Agriculturals, ETF and U.S. Stocks (CFD)., neither have Spread Betting Looking at total tradeable symbols, Moneta Markets has 965, compared to 655 from TopFX.

Can I trade cryptocurrency with Moneta Markets 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 Moneta Markets nor TopFX allow you to trade physical cryptocurrencies.

Who offers more research tools, Moneta Markets or TopFX?

In terms of research and research tools Moneta Markets gives traders the following tools: Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources), Trading Central (Recognia) and Social Trading / Copy Trading. 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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