XTB 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 XTB vs TopFX.
Can I trust XTB?
XTB has a trust score of 96, 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 XTB a good broker?
XTB is a highly trusted brand that holds licenses multiple global regulatory jurisdictions, earning it a Trust Score rating of 96. Though MetaTrader 4 is only available in certain regions, XTB's proprietary xStation 5 platform delivers a rich selection of trading tools and great usability. XTB provides access to CFDs for a wide range of asset classes, including multiple cryptocurrencies. Beginner forex traders will appreciate XTB's excellent educational content and the hundreds of lessons that are available via its Trading Academy.
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. XTB is United Kingdom (U.K.) (FCA Authorised), while TopFX is none.. Neither have Australia (ASIC Authorised), Canada (CIRO Authorised), Hong Kong (SFC Authorised), CBI Authorised (Ireland), Japan (SFC Authorised), Singapore (MAS Authorised), New Zealand (FMA Authorised), Switzerland (FINMA Authorised) and USA (CFTC Authorized)
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, XTB is Cyprus (CySEC Authorised), South Africa (FSCA 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) and Thailand (SEC Authorised). When comparing tier-3 licenses XTB is Belize (FSC Authorised), while TopFX is none.. Neither have Bahamas (SCB Authorised), Bermuda (BMA Authorised), British Virgin Islands (FSC Authorised), Cayman Islands (CIMA Authorised), Mauritius (FSC Authorised) and Vanuatu (VFSC Authorised).
Which broker offers more trading platforms?
For trading platforms XTB supports a Proprietary Platform and Desktop Platform (Windows), whereas TopFX supports a Desktop Platform (Windows) and cTrader.. Neither have DupliTrade and ZuluTrade
Does XTB offer MetaTrader? Does TopFX offer MetaTrader?
Both XTB and TopFX offer the whole MetaTrader suite, which consists of both MetaTrader 4 and MetaTrader 5. If you’re new to MetaTrader 4 here’s our educational guide on how to use MT4.. Neither have MetaTrader 5 (MT5)
How do XTB and TopFX differ in terms of minimum deposit? What about average spreads and funding options?
XTB requires a minimum deposit of $0, while TopFX requires a minimum deposit of Depends on payment method. From our testing we found XTB offers spreads of 1.07 , while TopFX offers spreads of N/A. Both XTB and TopFX offer Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit), PayPal (Deposit/Withdraw) and Skrill (Deposit/Withdraw) for deposits.
Which broker offers more tradeable asset classes, XTB or TopFX?
XTB offers a more diverse selection of investment options than TopFX allowing you to trade Forex Trading (Spot or CFDs), Social Trading / Copy Trading, Metals, Energies, Agriculturals, ETF and U.S. Stocks (CFD).. Neither have Spread Betting Looking at total tradeable symbols, XTB has 6010, compared to 655 from TopFX.
Can I trade cryptocurrency with XTB 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 XTB nor TopFX allow you to trade physical cryptocurrencies.
Who offers more research tools, XTB or TopFX?
In terms of research and research tools XTB gives traders the following tools: Daily Market Commentary, Stock Charts, 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.
Overall winner: XTB
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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.