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TopForex Review

  • Regulated by: CySEC
  • Safety: segregates client funds
  • Trust Rating: B
Open TopForex's Website

Losses can exceed deposits. Your capital is at risk.

TopForex one way: Forex.

To open a live account, you’ll need a minimum deposit of at least $100. Alternatively, TopForex offer a demo account that you can use to practice and familiarise yourself with their platform.

Regulated by CySEC (Licence: 242/14 ). TopForex puts all client funds in a segregated bank account and uses tier-1 banks for this. TopForex have been established since 2009, and have a head office in .

Before we dive into some of the more detailed aspects of TopForex’s spreads, fees, platforms and trading features, you may want to open TopForex‘s website in a new tab by clicking the button below in order to see the latest information directly from TopForex.

Open a demo account Visit TopForex

Full disclosure: We may receive a commission if you sign up with a broker using one of our links. Your capital is at risk. CFDs are leveraged products & 73% of traders lose money when trading CFDs.

TopForex screenshot

PROS

  • Segeregates client funds
  • Established in 2009
  • Regulated by CySEC
  • Min. deposit from $100

CONS

What are TopForex's spreads & fees?

Like most brokers, TopForex take a fee from the spread, which is the difference between the buy and sell price of an instrument.

The spreads displayed below are based on the minimum spreads listed on TopForex’s website. The colour bars show how competitive TopForex’s spreads are in comparison to other popular brokers featured on BrokerNotes.

TopForex fixed spread is not available. If you believe this is incorrect please fill in our form

Spreads are dynamic and are for informational purposes only. Last updated: June 06, 2018.

As you can see, TopForex's minimum spread for trading EUR/USD is 3.00 pips - which is relatively high compared to average EUR/USD spread of 0.82 pips. Below is a breakdown of how much it would cost you to trade one lot of EUR/USD with TopForex vs. similar brokers.

See all Spreads
Your capital is at risk.

How much does TopForex charge to trade 1 lot of EUR/USD?

If you were to buy one standard lot of EUR/USD (100k units) with TopForex at an exchange rate of 1.1719 and then sell it the next day at the same price you would likely pay $N/A. Here’s a rough breakdown of the fees and how this compares against XTB & City Index.

TopForex XTB City Index
Spread from: N/A $2.00 $5.00
Typical overnight fee: N/A $7.94 $20.60
Commission: N/A 0 0
Total cost of a 100k trade: N/A $9.94 $25.6
Visit TopForex Visit XTB Visit City Index

All fees/prices are for informational purposes and are subject to change. Last updated: 09/03/2018. Your capital is at risk.

General Fees

  • TopForex does charge inactivity fees
  • TopForex withdrawal fees varies on payment method

Overnight fees & swap rates

When you hold a position overnight, it is usually subject to overnight interest which you must pay to your brokerage (sometimes called a rollover fee or swap rate).

  • The rollover fee for long positions on EUR/USD is -$36.00
  • The rollover fee for short positions on EUR/USD is -$25.00

Commissions

  • TopForex does charge commission on CFD shares

What can you trade with TopForex?

FX / Currencies TopForex XTB City Index
# of forex pairs offered 50 84
Major forex pairs Yes Yes Yes
Minor forex pairs Yes Yes
Exotic forex pairs Yes Yes
Cryptocurrencies No Yes Yes
Commodity CFDs TopForex XTB City Index
# of commodities offered 0 26
Metals Yes Yes Yes
Energies Yes Yes Yes
Agricultural Yes Yes Yes
Index & Stock CFDs TopForex XTB City Index
# of Stocks offered 1500 4500
UK Shares Yes Yes Yes
US Shares Yes Yes Yes
German Shares Yes Yes Yes
Japanese Shares Yes Yes Yes
See TopForex's Instruments See XTB's Instruments See City Index's Instruments
Your capital is at risk.

What’s the TopForex trading experience like?

1) Platforms and apps

TopForex offer the popular MT4 forex trading platform. To see a list of the top MT4 brokers, see our comparison of MT4 brokers. TopForex also offer their custom Xstation platform.

TopForex Screenshot See TopForex's Platforms

TopForex also offer mobile apps for Android and iOS, making it easier to keep an eye on and execute your trades while you are on the move.

See TopForex's platforms
Your capital is at risk.

Trading Features:

  • Low min deposit

Accounts offered:

  • Demo account

Still not sure?

Open a practice account & learn to trade

2) Executing Trades

TopForex allow you to execute a minimum of trade of 0.01 Lot. This may vary depending on the account you open. The maximum trade requirements vary depending on the trader and the instrument.

As a market maker TopForex may have lower entry requirements compared to an ECN broker who benefits from a higher volume of trades and typically have larger capital and minimum trade requirements. Market makers typically have lower minimum deposit, smaller minimum trades requirements and no commission on trades.

As with most brokers, margin requirements do vary depending on the trader, accounts and instruments. You can see the latest margin requirements on their website.

Finally, we’ve listed some of the popular funding methods that TopForex offers its traders on the right.

Funding methods:

  • Credit cards
  • Skrill

3) Client support

TopForex support a wide range of languages including English, French, Italian, Hungarian, Greek, Slovak, Serbian, Dutch, Espanol, Romanian, Russian, Polish, Slovenian, Czech, Bulgarian, Arabic, Mandarin

TopForex have a BrokerNotes double AA support rating because TopForex offer over three languages

4) What you’ll need to open an account with TopForex

As TopForex is regulated by CySEC, every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you’ll likely be asked for the following, so it’s good to have these handy:

  • A scanned colour copy of your passport, driving license or national ID
  • A utility bill or bank statement from the past three months showing your address

You’ll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it’s best to put aside at least 10 minutes or so to complete the account opening process.

While you might be able to explore TopForex’s platform straight away, it’s important to note that you won’t be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.

To start the process of opening an account with TopForex you can visit their website here.

CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you’re prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from https://www.topforex.com on August 23, 2018.