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Spreadex vs TopFX 2023

BrokerNotes.co

Written by BrokerNotes.co

November 08, 2022

Trying to decide between Spreadex 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, Spreadex 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 RatingSpreadexTopFX
Overall Rating 7.2 / 10 6.7 / 10
Account TypeSpreadexTopFX
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 No Yes
Copy TradingSpreadexTopFX
Social Trading / Copy Trading No Yes
DupliTrade No No
ZuluTrade No No
CryptocurrencySpreadexTopFX
Cryptocurrency (Physical) No No
Cryptocurrency (CFD) Yes Yes
Bitcoin Yes Yes
ethereum Yes Yes
Forex Trading (Spot or CFDs)SpreadexTopFX
Forex Trading (Spot or CFDs) Yes Yes
Mobile Trading - Forex or CFDs Yes Yes
Indices (Index CFDs)SpreadexTopFX
DAX Yes Yes
Dow Jones Yes Yes
FTSE Yes Yes
NASDAQ 100 Yes Yes
Nikkei Yes Yes
SP 500 Yes Yes
InvestmentsSpreadexTopFX
Forex Trading (Spot or CFDs) Yes Yes
Spread Betting Yes No
Social Trading / Copy Trading No Yes
Metals Yes Yes
Energies Yes Yes
Agriculturals Yes No
ETF Yes Yes
U.S. Stocks (CFD) Yes Yes
Trading PlatformsSpreadexTopFX
Apple iOS App Yes Yes
Android App Yes Yes
Proprietary Platform Yes No
Desktop Platform (Windows) No Yes
Web Platform Yes Yes
MetaTrader 4 (MT4) No Yes
MetaTrader 5 (MT5) No No
Regulatory LicensesSpreadexTopFX
Tier-1 Licenses 1 0
ASIC Authorised (Australia) No No
IIROC Authorised (Canada) No No
FCA Authorised (U.K.) Yes 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 0 0
Research, EducationSpreadexTopFX
Trading Central (Recognia) No Yes
Forex News (Top-Tier Sources) Yes Yes
Daily Market Commentary Yes No
Autochartist No Yes
Investor Dictionary (Glossary) Yes No
Videos - Beginner Trading Videos Yes No
Client Webinars (Archived) No No
Trading CostsSpreadexTopFX
Minimum Initial Deposit $0 Depends on payment method
Average Spread EUR/USD - Standard -1 N/A
All-in Cost EUR/USD - Active -1 N/A
Active Trader or VIP Discounts No No
Bank Wire (Deposit/Withdraw) Yes Yes
Visa/Mastercard (Credit/Debit) Yes Yes
PayPal (Deposit/Withdraw) No Yes
Trading ToolsSpreadexTopFX
Watchlists - Total Fields 7
Mobile Watchlist Yes Yes
Charting - Indicators / Studies (Total) 55 30
Mobile Charting - Indicators / Studies N/A 30
Trust FactorsSpreadexTopFX
Year Founded 1999 2010
Publicly Traded (Listed) No No
Bank No No
Authorised in European Union No info No info
Trust Score 70 67
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Spreadex 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 Spreadex vs TopFX.

Can I trust Spreadex?

Spreadex has a trust score of 70, giving it a "Average 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 Spreadex a good broker?

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. Spreadex is FCA Authorised (U.K.), while TopFX is none., neither have 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) 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, Spreadex 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 unfortunately, neither Spreadex nor TopFX 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 Spreadex supports a Proprietary Platform, whereas TopFX supports a Desktop Platform (Windows) and cTrader., neither have DupliTrade and ZuluTrade

Does Spreadex offer MetaTrader? Does TopFX offer MetaTrader?

For MetaTrader Spreadex provides neither of these, 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., neither have MetaTrader 5 (MT5)

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

Spreadex requires a minimum deposit of $0, while TopFX requires a minimum deposit of Depends on payment method. From our testing we found Spreadex offers spreads of -1, while TopFX offers spreads of N/A. Spreadex supports Bank Wire (Deposit/Withdraw) and Visa/Mastercard (Credit/Debit) 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, Spreadex or TopFX?

Spreadex offers a more diverse selection of investment options than TopFX allowing you to trade Forex Trading (Spot or CFDs), Spread Betting, Metals, Energies, Agriculturals, ETF and U.S. Stocks (CFD). Looking at total tradeable symbols, Spreadex has 2000, compared to 655 from TopFX.

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

Who offers more research tools, Spreadex or TopFX?

In terms of research and research tools Spreadex gives traders the following tools: Daily Market Commentary, Stock Charts and Forex News (Top-Tier Sources). In comparison TopFX has the tools listed here: Autochartist, Forex News (Top-Tier Sources), Trading Central (Recognia) and Social Trading / Copy Trading.

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