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TopFX vs Xtrade 2022

BrokerNotes.co

Written by BrokerNotes.co

November 08, 2022

Trying to decide between TopFX and Xtrade? 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 Xtrade.

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 RatingTopFXXtradeXTB
Overall Rating6.7 / 106.5 / 109 / 10
Account TypeTopFXXtradeXTB
Standard Trade Size (100,000 units)YesYesYes
Mini Trade Size (10,000 units)YesYesYes
Micro Trade Size (1,000 units)YesYesYes
Islamic AccountYesNoYes
Copy TradingTopFXXtradeXTB
Social Trading / Copy TradingYesNoYes
DupliTradeNoNoNo
ZuluTradeNoNoNo
CryptocurrencyTopFXXtradeXTB
Cryptocurrency (Physical)NoNoNo
Cryptocurrency (CFD)YesYesYes
BitcoinYesYesYes
ethereumYesYesYes
Forex Trading (Spot or CFDs)TopFXXtradeXTB
Forex Trading (Spot or CFDs)YesYesYes
Mobile Trading - Forex or CFDsYesYesYes
Indices (Index CFDs)TopFXXtradeXTB
DAXYesYesYes
Dow JonesYesYesYes
FTSEYesYesYes
NASDAQ 100YesYesYes
NikkeiYesYesYes
SP 500YesYesYes
InvestmentsTopFXXtradeXTB
Forex Trading (Spot or CFDs)YesYesYes
Spread BettingNoNoNo
Social Trading / Copy TradingYesNoYes
MetalsYesYesYes
EnergiesYesYesYes
AgriculturalsNoYesYes
ETFYesYesNo
U.S. Stocks (CFD)YesNoYes
Trading PlatformsTopFXXtradeXTB
Apple iOS AppYesYesYes
Android AppYesYesYes
Proprietary PlatformNoYesYes
Desktop Platform (Windows)YesNoYes
Web PlatformYesYesYes
MetaTrader 4 (MT4)YesNoYes
MetaTrader 5 (MT5)NoNoNo
Regulatory LicensesTopFXXtradeXTB
Tier-1 Licenses011
ASIC Authorised (Australia)NoYesNo
IIROC Authorised (Canada)NoNoNo
FCA Authorised (U.K.)NoNoYes
SFC Authorised (Hong Kong)NoNoNo
MAS Authorised (Singapore)NoNoNo
FINMA Authorised (Switzerland)NoNoNo
CFTC Registered (USA)NoNoNo
Tier-2 Licenses123
Tier-3 Licenses011
Research, EducationTopFXXtradeXTB
Trading Central (Recognia)YesNoNo
Forex News (Top-Tier Sources)YesYesYes
Daily Market CommentaryNoYesYes
AutochartistYesNoNo
Investor Dictionary (Glossary)NoYesNo
Videos - Beginner Trading VideosNoNoYes
Client Webinars (Archived)NoNoYes
Trading CostsTopFXXtradeXTB
Minimum Initial DepositDepends on payment method$250$0
Average Spread EUR/USD - StandardN/A-11.07 (Q3 2022)
All-in Cost EUR/USD - ActiveN/A-11.04 (Q3 2022)
Active Trader or VIP DiscountsNoYesYes
Bank Wire (Deposit/Withdraw)YesYesYes
Visa/Mastercard (Credit/Debit)YesYesYes
PayPal (Deposit/Withdraw)YesNoYes
Trading ToolsTopFXXtradeXTB
Watchlists - Total Fields798
Mobile WatchlistYesNoYes
Charting - Indicators / Studies (Total)30N/A39
Mobile Charting - Indicators / Studies30N/A39
Trust FactorsTopFXXtradeXTB
Year Founded201020032002
Publicly Traded (Listed)NoNoYes
BankNoNoNo
Authorised in European UnionNoNoYes
Trust Score678095
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TopFX vs Xtrade 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 Xtrade.

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 Xtrade?

Xtrade has a trust score of 80, giving it a "Trusted" 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 Xtrade 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. TopFX is none, while Xtrade is ASIC Authorised (Australia)., 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, TopFX is CySEC Authorised (Cyprus), while Xtrade is CySEC Authorised (Cyprus) and FSCA Authorised (South Africa)., 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 TopFX is none, while Xtrade is IFSC Authorised (Belize)., neither have SCB Authorised (Bahamas), BMA Authorised (Bermuda), FSC Authorised (British Virgin Islands), CIMA Authorised (Cayman Islands), FSC Authorised (Mauritius) and VFSC Authorised (Vanuatu).

Which broker offers more trading platforms?

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

Does TopFX offer MetaTrader? Does Xtrade offer MetaTrader?

For MetaTrader TopFX provides MetaTrader 4 (MT4), while Xtrade provides neither of these. If MetaTrader is a must for you, read our guides on the best MT4 brokers or best MT5 brokers., neither have MetaTrader 5 (MT5)

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

TopFX requires a minimum deposit of Depends on payment method, while Xtrade requires a minimum deposit of $250. From our testing we found TopFX offers spreads of N/A, while Xtrade offers spreads of -1. TopFX supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit), PayPal (Deposit/Withdraw) and Skrill (Deposit/Withdraw) for popular funding options, where Xtrade supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw).

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

TopFX offers a more diverse selection of investment options than Xtrade allowing you to trade Forex Trading (Spot or CFDs), Social Trading / Copy Trading, Metals, Energies, ETF and U.S. Stocks (CFD)., neither have Spread Betting Looking at total tradeable symbols, TopFX has 655, compared to 142 from Xtrade.

Can I trade cryptocurrency with TopFX or Xtrade?

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 Xtrade allow you to trade physical cryptocurrencies.

Who offers more research tools, TopFX or Xtrade?

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 Xtrade has the tools listed here: Daily Market Commentary, Stock Charts and Forex News (Top-Tier Sources).

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