FOREX.com 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 FOREX.com vs TopFX.
Can I trust FOREX.com?
FOREX.com has a trust score of 99, giving it a "Highly 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 – in most cases – 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 “Do Not Trust” rating.
Can I trust TopFX?
TopFX has a trust score of 67, giving it a "High Risk" trust label.
Is FOREX.com a good broker?
FOREX.com, part of the StoneX Group, is a highly trusted brand with a long history of offering forex in the U.S. and across the globe. We love FOREX.com's flagship trading platforms for web and desktop (TradingView's powerful charting is fully integrated within the broker's web platform), and MetaTrader loyalists will appreciate that FOREX.com offers both MetaTrader 4 and MetaTrader 5. An impressive number of CFDs are available within the broker's proprietary platform (though fewer are available on MetaTrader). FOREX.com's pricing is great for active traders, but our research found that FOREX.com is slightly expensive compared to the industry average. Overall, FOREX.com is a well-balanced choice for traders of all experience levels.
Is TopFX a good broker?
TopFX offers the MetaTraderand cTrader platforms, along with a growing selection of tradeable markets. That said, this broker's lack of substantial regulatory licenses outside of Cyprus brings its Trust Score down. TopFX also lags behind the industry average when it comes to market research and education.
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. FOREX.com is Australia (ASIC Authorised), Canada (CIRO Authorised), Japan (SFC Authorised), Singapore (MAS Authorised), United Kingdom (U.K.) (FCA Authorised) and USA (CFTC Authorized), while TopFX is none.. Neither have Hong Kong (SFC Authorised), CBI Authorised (Ireland), New Zealand (FMA Authorised) and Switzerland (FINMA Authorised)
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, FOREX.com is Cyprus (CySEC Authorised) and UAE (DFSA/Central Bank Authorised), while TopFX is Cyprus (CySEC Authorised).. Neither have China (CBRC Authorised), India (SEBI Authorised), Israel (ISA Authorised), Russia (CBR Authorised), South Africa (FSCA Authorised) and Thailand (SEC Authorised). When comparing tier-3 licenses FOREX.com is Cayman Islands (CIMA Authorised), while TopFX is none.. Neither have Bahamas (SCB Authorised), Belize (FSC Authorised), Bermuda (BMA Authorised), British Virgin Islands (FSC Authorised), Mauritius (FSC Authorised) and Vanuatu (VFSC Authorised).
Which broker offers more trading platforms?
For trading platforms FOREX.com supports a Proprietary Platform and Desktop Platform (Windows), whereas TopFX supports a Desktop Platform (Windows) and cTrader.. Neither have DupliTrade and ZuluTrade
Does FOREX.com offer MetaTrader? Does TopFX offer MetaTrader?
For MetaTrader FOREX.com 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 FOREX.com and TopFX differ in terms of minimum deposit? What about average spreads and funding options?
FOREX.com requires a minimum deposit of $100, while TopFX requires a minimum deposit of Depends on payment method. From our testing we found FOREX.com offers spreads of 1.0, while TopFX offers spreads of N/A. FOREX.com supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and PayPal (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 broker offers more tradeable asset classes, FOREX.com or TopFX?
FOREX.com offers a more diverse selection of investment options than TopFX allowing you to trade Forex Trading (Spot or CFDs), Metals, Energies, Agriculturals, ETF and U.S. Stocks (CFD).. Neither have Spread Betting Looking at total tradeable symbols, FOREX.com has 5500, compared to 655 from TopFX.
Can I trade cryptocurrency with FOREX.com 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 — including spot forex contracts. In terms of trading physical cryptocurrency neither FOREX.com nor TopFX allow you to trade physical cryptocurrencies.
Who offers more research tools, FOREX.com or TopFX?
In terms of research and research tools FOREX.com gives traders the following tools: Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources) and Trading Central (Recognia). In comparison TopFX has the tools listed here: Autochartist, Forex News (Top-Tier Sources), Trading Central (Recognia) and Social Trading / Copy Trading.
Overall winner: FOREX.com
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We review each broker’s overall global offering – a “Yes” 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.