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Alpari vs TopFX 2023

BrokerNotes.co

Written by BrokerNotes.co

January 31, 2023

Trying to decide between Alpari 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, Alpari 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 RatingAlpariTopFX
Overall Rating 6.8 / 10 6.7 / 10
Account TypeAlpariTopFX
Standard Trade Size (100,000 units) Yes Yes
Mini Trade Size (10,000 units) Yes Yes
Micro Trade Size (1,000 units) Yes Yes
Islamic Account Yes Yes
Copy TradingAlpariTopFX
Social Trading / Copy Trading Yes Yes
DupliTrade No No
ZuluTrade No No
CryptocurrencyAlpariTopFX
Cryptocurrency (Physical) No No
Cryptocurrency (CFD) Yes Yes
Bitcoin Yes Yes
ethereum Yes Yes
Forex Trading (Spot or CFDs)AlpariTopFX
Forex Trading (Spot or CFDs) Yes Yes
Mobile Trading - Forex or CFDs Yes Yes
Indices (Index CFDs)AlpariTopFX
DAX Yes Yes
Dow Jones Yes Yes
FTSE Yes Yes
NASDAQ 100 Yes Yes
Nikkei Yes Yes
SP 500 Yes Yes
InvestmentsAlpariTopFX
Forex Trading (Spot or CFDs) Yes Yes
Spread Betting No No
Social Trading / Copy Trading Yes Yes
Metals Yes Yes
Energies Yes Yes
Agriculturals No No
ETF No Yes
U.S. Stocks (CFD) No Yes
Trading PlatformsAlpariTopFX
Apple iOS App Yes Yes
Android App Yes Yes
Proprietary Platform Yes No
Desktop Platform (Windows) Yes Yes
Web Platform Yes Yes
MetaTrader 4 (MT4) Yes Yes
MetaTrader 5 (MT5) Yes No
Regulatory LicensesAlpariTopFX
Tier-1 Licenses 0 0
ASIC Authorised (Australia) No No
IIROC Authorised (Canada) No No
FCA Authorised (U.K.) No No
SFC Authorised (Hong Kong) No No
MAS Authorised (Singapore) No No
FINMA Authorised (Switzerland) No No
CFTC Registered (USA) No No
Tier-2 Licenses 0 1
Tier-3 Licenses 1 0
Research, EducationAlpariTopFX
Trading Central (Recognia) No Yes
Forex News (Top-Tier Sources) Yes Yes
Daily Market Commentary No No
Autochartist Yes Yes
Investor Dictionary (Glossary) Yes No
Videos - Beginner Trading Videos Yes No
Client Webinars (Archived) No No
Trading CostsAlpariTopFX
Minimum Initial Deposit $20 Depends on payment method
Average Spread EUR/USD - Standard N/A N/A
All-in Cost EUR/USD - Active N/A N/A
Active Trader or VIP Discounts Yes No
Bank Wire (Deposit/Withdraw) Yes Yes
Visa/Mastercard (Credit/Debit) Yes Yes
PayPal (Deposit/Withdraw) No Yes
Trading ToolsAlpariTopFX
Watchlists - Total Fields 7 7
Mobile Watchlist Yes Yes
Charting - Indicators / Studies (Total) 30 30
Mobile Charting - Indicators / Studies 30 30
Trust FactorsAlpariTopFX
Year Founded 1998 2010
Publicly Traded (Listed) No No
Bank No No
Authorised in European Union No info No info
Trust Score 67 67
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Alpari vs TopFX Comparison

Comparing forex brokers side by side is no easy task. For our 2023 annual forex broker review, we spent hundreds of hours assessing 39 forex and CFD brokerages to find the best forex broker. Let's compare Alpari vs TopFX.

Can I trust Alpari?

Alpari 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 TopFX?

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

Is Alpari a good broker?

Alpari is one of the oldest MetaTrader brokers, and an early pioneer of social copy-trading. Best known in Eastern Europe, Alpari offers a small but growing selection of CFD markets and platform tools, but lacks regulatory licenses in top-tier jurisdictions.

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. unfortunately, neither Alpari nor TopFX 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, Alpari is none, while TopFX is 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 Alpari is FSC Authorised (Mauritius), while TopFX is none., neither have SCB Authorised (Bahamas), IFSC Authorised (Belize), BMA Authorised (Bermuda), FSC Authorised (British Virgin Islands), CIMA Authorised (Cayman Islands) and VFSC Authorised (Vanuatu).

Which broker offers more trading platforms?

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

Does Alpari offer MetaTrader? Does TopFX offer MetaTrader?

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

Alpari requires a minimum deposit of $20, while TopFX requires a minimum deposit of Depends on payment method. From our testing we found Alpari offers spreads of N/A, while TopFX offers spreads of N/A. Alpari supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (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, Alpari or TopFX?

Alpari offers a more diverse selection of investment options than TopFX allowing you to trade Forex Trading (Spot or CFDs), Social Trading / Copy Trading, Metals and Energies., neither have Spread Betting and Agriculturals Looking at total tradeable symbols, Alpari has 105, compared to 655 from TopFX.

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

Who offers more research tools, Alpari or TopFX?

In terms of research and research tools Alpari gives traders the following tools: Autochartist, Forex News (Top-Tier Sources) 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., neither have Daily Market Commentary and Stock Charts

Broker Reviews

Still looking for more information, read our broker reviews.

Alpari Review

TopFX Review

Overall winner: Alpari

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We review each brokerโ€™s overall global offering โ€“ a โ€œYesโ€ checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.

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