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TopFX vs UFX 2022

BrokerNotes.co

Written by BrokerNotes.co

November 08, 2022

Trying to decide between TopFX and UFX? 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, TopFX ranks more highly than UFX.

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 RatingTopFXUFXIG
Overall Rating6.5 / 106.5 / 109.7 / 10
Account TypeTopFXUFXIG
Standard Trade Size (100,000 units)YesYesYes
Mini Trade Size (10,000 units)YesYesYes
Micro Trade Size (1,000 units)YesYesYes
Islamic AccountYesYesNo
Copy TradingTopFXUFXIG
Social Trading / Copy TradingYesYesYes
DupliTradeNoNoNo
ZuluTradeNoNoNo
CryptocurrencyTopFXUFXIG
Cryptocurrency (Physical)NoNoNo
Cryptocurrency (CFD)YesYesYes
BitcoinYesYesYes
ethereumYesYesYes
Forex Trading (Spot or CFDs)TopFXUFXIG
Forex Trading (Spot or CFDs)YesYesYes
Mobile Trading - Forex or CFDsYesYesYes
Indices (Index CFDs)TopFXUFXIG
DAXYesYesYes
Dow JonesYesYesYes
FTSEYesYesYes
NASDAQ 100YesYesYes
NikkeiYesYesYes
SP 500YesYesYes
InvestmentsTopFXUFXIG
Forex Trading (Spot or CFDs)YesYesYes
Spread BettingNoNoYes
Social Trading / Copy TradingYesYesYes
MetalsYesYesYes
EnergiesYesYesYes
AgriculturalsNoNoYes
ETFYesYesYes
U.S. Stocks (CFD)YesYesYes
Trading PlatformsTopFXUFXIG
Apple iOS AppYesYesYes
Android AppYesYesYes
Proprietary PlatformNoYesYes
Desktop Platform (Windows)YesYesYes
Web PlatformYesYesYes
MetaTrader 4 (MT4)YesYesYes
MetaTrader 5 (MT5)NoYesNo
Regulatory LicensesTopFXUFXIG
Tier-1 Licenses007
ASIC Authorised (Australia)NoNoYes
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, EducationTopFXUFXIG
Trading Central (Recognia)YesYesNo
Forex News (Top-Tier Sources)YesYesYes
Daily Market CommentaryNoNoYes
AutochartistYesNoYes
Investor Dictionary (Glossary)NoNoYes
Videos - Beginner Trading VideosNoNoYes
Client Webinars (Archived)NoNoYes
Trading CostsTopFXUFXIG
Minimum Initial DepositDepends on payment method$100ยฃ250.00
Average Spread EUR/USD - StandardN/A3 (Jan 2021)0.86 (September 2022)
All-in Cost EUR/USD - ActiveN/A2 (Jan 2021)0.5957 (September 2022)
Active Trader or VIP DiscountsNoYesYes
Bank Wire (Deposit/Withdraw)YesYesYes
Visa/Mastercard (Credit/Debit)YesYesYes
PayPal (Deposit/Withdraw)YesNoYes
Trading ToolsTopFXUFXIG
Watchlists - Total Fields7714
Mobile WatchlistYesYesYes
Charting - Indicators / Studies (Total)3011633
Mobile Charting - Indicators / Studies303033
Trust FactorsTopFXUFXIG
Year Founded201020111974
Publicly Traded (Listed)NoNoYes
BankNoNoYes
Authorised in European UnionNoYesYes
Trust Score676799
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TopFX vs UFX 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 TopFX vs UFX.

Can I trust TopFX?

TopFX has a trust score of 67, giving it a "High Risk" 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 UFX?

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

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.

Is UFX a good broker?

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. unfortunately, neither TopFX nor UFX are ASIC Authorised (Australia), 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)., neither have 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, both TopFX and UFX are CySEC Authorised (Cyprus)., neither have CBRC Authorised (China), SEBI Authorised (India), ISA Authorised (Israel), CBR Authorised (Russia), FSCA Authorised (South Africa), SEC Authorised (Thailand) and DFSA / Central Bank Authorised (UAE). When comparing tier-3 licenses unfortunately, neither TopFX nor UFX 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 TopFX supports a Desktop Platform (Windows) and cTrader, whereas UFX supports a Proprietary Platform and Desktop Platform (Windows)., neither have DupliTrade and ZuluTrade

Does TopFX offer MetaTrader? Does UFX offer MetaTrader?

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

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

TopFX requires a minimum deposit of Depends on payment method, while UFX requires a minimum deposit of $100. From our testing we found TopFX offers spreads of N/A, while UFX offers spreads of 3 (Jan 2021). TopFX supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit), PayPal (Deposit/Withdraw) and Skrill (Deposit/Withdraw) for popular funding options, where UFX supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw).

Which brokers offers more tradeable asset classes, TopFX or UFX?

Both TopFX and UFX allow you to trade Forex Trading (Spot or CFDs), Social Trading / Copy Trading, Metals, Energies, ETF and U.S. Stocks (CFD)., neither have Spread Betting and Agriculturals Looking at total tradeable symbols, TopFX has 655, compared to 619 from UFX.

Can I trade cryptocurrency with TopFX or UFX?

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 TopFX nor UFX allow you to trade physical cryptocurrencies.

Who offers more research tools, TopFX or UFX?

In terms of research and research tools TopFX gives traders the following tools: Autochartist, Forex News (Top-Tier Sources), Trading Central (Recognia) and Social Trading / Copy Trading. In comparison UFX has the tools listed here: Stock Charts, Forex News (Top-Tier Sources), Trading Central (Recognia) and Social Trading / Copy Trading., neither have Daily Market Commentary

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