TopFX Review: Is this broker legit, safe and trustworthy for UAE citizens and residents?
TopFX is a worldwide brokerage platform that has been in business since 2010
and is notable for its liquidity solutions. Traders and investment companies are
able to generate profits with the assistance of this broker by making
investments in hundreds of different assets across a variety of marketplaces.
These markets include Forex, Indices, Shares, and Commodities. In this
examination of TopFX, we will endeavor to identify the qualities that account
for the company's tremendous level of success.
Get started with TopFX.
The company stores the money belonging to its customers in protected accounts, and all of the company's security procedures are adhered to scrupulously. The policies consist of Know Your Customer, Anti-Money Laundering, and Risk Management.
Tweets by TopFX
The TopFX trading platform offers traders a choice between two different account kinds. Each of these accounts offers wonderful features, in addition to very competitive spreads. Therefore, the option of which trading account a trader uses is totally dependent on personal preference. Raw Account is the name given to the first account, while Zero Account is the name given to the second account.
Those who have a Raw account are need to pay $2.75 in order to purchase a lot. Traders who would like pay their commissions independently from their raw price feed payments will find that this account meets their needs.
Traders using a TopFX Zero account benefit from the most cost-effective trading environment possible, as this account offers the lowest spreads across the board. These accounts are eligible for the execution of trades at a lightning-fast speed.
Because this feature amplifies the original balance, leverage is a useful instrument that enables traders to trade big sums of money. Leverage gives traders the ability to trade enormous quantities of money. In other words, it offers a larger degree of exposure to a variety of markets for a relatively little investment. Customers of TopFX now have access to a leverage ratio of 1:30, which means that for every dollar they invest, they have the potential to trade up to thirty dollars.
Now that we've covered everything, let's talk about the spreads that this broker provides, which are quite narrow but vary depending on whether you trade forex, indices, or commodities. On this platform, you may trade approximately 100 different currency pairings, and the spreads start from zero pip if you have a Raw Account, but they start at 0.5 pip if you have a Zero Account.
Moving on to indices, this trading platform gives you access to 14 different global indices, each of which has a spread of 0.4 pip and a fee rate of $2.75 per lot. You may trade contracts for difference (CFDs) on commodities such as gold and oil with very narrow spreads. In each of the accounts that are being made available to you, the minimum payment that is necessary is merely 3 pip.
In order for a trader to participate in the market, they are required to complete the process of crediting their account. The act of purchasing goods with the intention of reselling them at a profit is the essence of trading. You will not be able to purchase anything in the first place if you do not have any money. Your TopFX account may be reloaded with funds using a variety of various payment methods, including wire transfers, credit cards, and online payment applications. You will be pleased to learn that this platform does not impose a restriction on the first deposit amount; hence, you are free to begin your career with whatever sum you want.
All of the payment options that may be used to make deposits can also be used to make withdrawals. A withdrawal fee that is just a small fraction of the amount withdrawn is deducted, and the withdrawals are processed and authorized within twenty-four hours.
MetaTrader 4 serves as the foundation for TopFX's trading platform. It is a platform that is extremely user-friendly, highly adjustable, and fully automated, and it offers a multitude of features and trading instruments. This platform offers a wide variety of useful features, some of the most notable of which include interactive charting, several timeframes, indicators, and expert advisers. The ability to execute transactions with a single click is also available.
The clientele of this brokerage firm have access to a Mobile version of the trading platform, which makes the trading procedure even more convenient for them. On the mobile trading platform, one has access to each and every one of the functions that are available on the main platform. Apps are available for mobile devices running Android and iOS in the relevant app stores for those operating systems.
TopFX is a trustworthy and open-handed brokerage platform that gives users access to a variety of different trading products. This fantastic broker gives a degree of adaptability in the terms of its conditions, and it also provides favorable spreads and leverage to its customers.
In this TopFX Review, we are going to investigate the offer that this broker has provided for its clients in the form of a trading platform. The Cyprus Securities and Exchange Commission (CySEC) oversees TopFX. Since 2010, TopFX has been active in the global financial market. The minimum deposit required to use TopFX is 1 USD.
When it comes to trading CFDs, between 74 and 89 percent of individual investor accounts end up losing money. You need to ask yourself if you have the financial means to take the significant chance of losing your money.
Is TopFX a Fraud or Not? CySec has granted TopFX a license and regulates the business that it does as a broker. Even though licensing lends brokers the much-needed legitimacy they lack, this does not always mean that every licensed broker is trustworthy. Read the evaluations left by other traders on our website, as well as visit some of the most prominent trading-related websites and forums online, to determine whether or not TopFX is a fraud.
What is the lowest deposit amount accepted by TopFX? You are required to make a minimum deposit of one dollar (USD) before you can begin trading with TopFX.
Which methods are supported for deposits and withdrawals at TopFX? Your TopFX account may be funded via a bank transfer, VISA, MasterCard, Neteller, Skrill, UnionPay, or WebMoney, among other payment methods.
Would you suggest that I open an account with TopFX? Unfortunately, we do not have any first-hand experience with TopFX. On the other hand, given that the broker in question is supervised by CySec, there is a good possibility that it is not a fraudulent operation. Even with all of this information, it does not necessarily indicate that TopFX is the best choice because there are hundreds of other regulated brokers that provide trading conditions that are equivalent to or even superior to those offered by TopFX.
Since around 2010, TopFX has been providing a global business platform recognized for its excellent liquidity arrangements and help. The aid of this merchant enables dealers and venture firms to acquire advantages by investing resources in a variety of resources across a variety of company sectors such as forex, indices, shares, and commodities. This helps these businesses acquire profits. In this TopFX poll, we will seek to dissect the components that constitute the driving force behind the success that we see today.
The company safeguards its customers' property by maintaining accurate records of it, and it has fully implemented all of its preventative measures. The KYC, AML, and Risk Management policies are all incorporated into the strategy.
This platform, which is situated in Cyprus, is completely reliable and authentic. Its services are available in every important nation across the world; nevertheless, its security method does occasionally vary in accordance with the regulations of the clients' home country.
Traders using TopFX's Zero account benefit from the industry's tightest overall spreads and the most competitive market conditions. These records meet the requirements for the implementation of extremely rapid swaps.
Because this factor magnifies the underlying equilibrium, leverage is a helpful device that enables merchants to transact large amounts of cash. Leverage gives merchants this ability. As a result, it provides a greater prominence of openness to a variety of corporate sectors while also minimizing speculation. At the moment, TopFX is offering a 1:30 leverage to its customers, which in practice means that for every single dollar, customers have the potential to trade as much as thirty dollars.
Now that we have that out of the way, let's talk about the spreads that this broker offers, which are highly competitive while still being one of a kind for trading forex, indices, and commodities. On this level, you are limited to exchanging around 100 cash matches, and the spreads begin at zero pips in the Raw Account and 0.5 pips in the Zero Account respectively.
Moving on to indices, at this point you have the ability to trade 14 indices from across the world with a spread of 0.4 pip and a cost of $2.75 for each trade. You may trade contracts for difference (CFDs) on commodities like gold and oil with very tight spreads. In each of the accounts that are being made available to you, the minimum required deposit is only 3 pip.
Crediting the record is an essential step that must be taken in advance for any merchant to be granted the ability to exchange. When it comes to buying items and then reselling them at a higher price, exchanging is by far the most prevalent practice. In the event that you do not have any cash on hand, you will be unable to purchase anything anyway. You may add funds to your TopFX account using a variety of methods, such as wire transfers, Mastercards, and online installment applications. You will be relieved to find out that this step did not establish an inherent store restriction; consequently, you are free to start your career with whatever quantity that you want.
The same payment methods that are available for use in stores are also available for use when making withdrawals. A minuscule percentage is deducted from the total amount withdrawn as the processing fee, and the withdrawal request is processed and approved within twenty-four hours.
MetaTrader 4 serves as the platform around which TopFX is built. It is a stage that is very natural, highly changeable, and highly automated, and it provides a large number of elements and trading equipment. A few of the aspects that stand out the most throughout this stage are intuitive outlining, various time periods, markers, and master consultants. In the same vein, the execution of single tick trades is enabled.
A mobile version of this trading platform is also available, which makes the trading process even less complicated for the customers of this platform. On the versatile exchanging stage, every one of the features that are accessible on the fundamental stage are moreover accessible. On each of their respective platforms, Android and iOS devices may download versatile applications to expand their functionality.
TopFX is a stable and user-friendly business platform that allows users to trade several types of financial products. It gives versatility in its conditions, and the spreads and influence offered by this fantastic broker are extra reasons of interest in addition to its other strengths.
TopFX is a foreign exchange online trading broker and trading platform that is based offshore. It provides access to more than a thousand different tradable financial products. TopFX is well-known for providing clients with a multitude of cutting-edge trading platforms in addition to a variety of trading solutions.
TopFX is a foreign exchange company that operates out of Seychelles and employs between 10 and 50 people total.
Is There a Regulator Over TopFX? Yes, TopFX is the brand name that falls within Fondex Limited's umbrella. This organization holds a license issued by the Financial Services Authority (FSA) and is regulated by the Cyprus Securities and Exchange Commission. Its registration may be found on the island nation of the Seychelles (CySEC).
Is TopFX Subject to Any Kind of Regulation in the United States? No, TopFX is not subject to the regulations of Virginia or any other state in the United States.
Is TopFX Subject to Any Kind of European Regulation? No, TopFX is not regulated in Europe; but, the company does hold cross-border licenses that allow it to sell goods to forex traders in Europe.
Is TopFX subject to regulation in a jurisdiction that is ranked as Tier-1? To my knowledge, TopFX is not subject to the regulations of any Tier-1 jurisdiction.
Forex brokers who have a license from a Tier-1 Jurisdiction are authorized to offer their services to customers in the following countries: Australia, Austria, Belgium, Denmark, Finland, France, Germany, Hong Kong, Israel, Japan, Luxembourg, the Netherlands, New Zealand, Norway, Puerto Rico, Singapore, Sweden, and Switzerland.
Is TopFX subject to the regulatory requirements of a Tier-2 jurisdiction? To answer your question, yes, TopFX is subject to regulation under Tier-2 Jurisdiction.
TopFX is now authorized to offer financial services and conduct business in the British Virgin Islands, Cayman Islands, Cyprus, Italy, Malaysia, Mexico, Poland, Portugal, Spain, and Taiwan thanks to Tier-2 Jurisdiction's provision of the necessary licenses.
What kinds of trading platforms and tools does TopFX offer for foreign exchange transactions? Traders who open an account with TopFX have the option of using either of these two widely used, multi-award winning, and cutting-edge trading platforms:
MetaTrader 4 is a trading platform that may be used on desktop computers, mobile web browsers, and mobile devices. MetaTrader 4 provides Forex traders with all the tools they want for a trading experience that is streamlined, hassle-free, and dynamic when used in conjunction with TopFX.
cTrader is a powerful and reliable trading platform that is known for its reliability, advanced forex trading tools, and the ability to combine various trading methods in one application. cTrader is known for its reliability, advanced forex trading tools, and the ability to combine various trading methods in one application.
Does TopFX Provide a News Blog with Forex-Related Articles? Yes. On its main website, TopFX provides users with free access to a news blog that covers forex-related topics. Forex traders may quickly get the most recent financial news on the website of TopFX, which also features the tools that forex traders want in order to do comprehensive fundamental analysis.
Is There a Traders Dashboard Available at TopFX? Unfortunately, there is no Traders Dashboard to be found on the official TopFX website.
Is There a Dedicated Educational Section on TopFX? Unfortunately, the official TopFX website does not include any kind of instructional content of any kind.
Is TopFX Legit? Yes, TopFX is a legitimate foreign exchange broker and the trade name of Fondex Limited, which is a well regarded and licensed foreign exchange trading broker. TopFX is a forex trading broker.
Is it safe to use TopFX? When it comes to compliance with regulations and strong safety standards, TopFX is, without a doubt, a trustworthy and secure Forex trading platform. TopFX is the trading name of Fondex Limited, and the company is licensed and regulated by the following organizations:
In Seychelles, this regulatory body is known as the Financial Services Authority (FSA).
The Cyprus Securities and Exchange Commission, also known as CySEC, is located in Cyprus.
As a result of this rule, TopFX is obligated to take the necessary steps to guarantee that all customer monies are held in segregated accounts, which are kept entirely apart from the broker's own assets. Both TopFX's ability to meet its financial responsibilities and forex traders' protection from fraudulent behavior are safeguarded by stringent regulation.
Is TopFX a Reputable Forex Broker? Yes. According to the study that was done by Forex Suggest, TopFX is a reliable broker in terms of cryptocurrency trading, trading speed, online assistance, and overall safety.
In terms of safety, TopFX employs stringent and dependable innovations such as SSL encryption to guarantee the confidentiality of customer data and information when it is sent between trading platforms and stored on the website.
TopFX ensures that all orders will be filled within a few milliseconds, that there will be minimum slippage, and that there will be no requotes. This pertains to the speed of trading.
The "Contact Us" section of the TopFX website provides a link to a live chat feature, which may be used to get in touch with the company for assistance with its online support services. You may get in touch with support at any time, day or night, five days a week.
When it comes to CFDs on cryptocurrencies, TopFX allows customers to trade in Bitcoin, XRP, Litecoin, Ethereum, and Bitcoin Cash.
Does TopFX have Nasdaq? The purchase and sale of shares is available through
Does TopFX have any special deals or promotions? No, TopFX does not currently have any special deals or promotions.
Is there a sign-up bonus available at TopFX? No, TopFX does not offer a welcome bonus to new forex traders when they sign up for an account.
Traders who open their first genuine account are eligible to get a welcome bonus in the form of trading credit, which is provided to them when they sign up.
Does TopFX provide a deposit bonus? No, TopFX does not offer a deposit bonus to new or current forex traders. This policy applies to both new and existing traders.
Forex traders may be eligible for a deposit bonus either when they create a new account with the broker or with each deposit they make, but this is entirely up to the discretion of the broker.
Does TopFX offer a trade incentive that is free of any commissions? No, TopFX does not provide its forex traders with a bonus that waives their commission fees on trades.
Is there a special benefit for VIP customers at TopFX? A VIP bonus is not something that TopFX provides to forex traders.
At TopFX, is it possible to begin trading with no initial capital? At TopFX, there is no way to begin trading with no initial capital. Traders are required to make a minimum deposit of fifty dollars before they can begin trading.
How does TopFX's leverage work for customers? TopFX has several leverage ratios for each asset class that may be traded. These leverage ratios are as follows:
Shares and ETFs are valued at 1:20, Forex is valued at 1:500, Indices are valued at 1:200, Metals are valued at 1:200, and Energies are valued at 1:200. Cryptocurrencies are valued at 1:10.
Because the margin requirement or call that is needed at the beginning of each transaction as collateral is reduced thanks to the utilization of leverage, investors are afforded the opportunity to build greater positions. Leverage has the ability to increase a trader's profits to their fullest, but it also puts them at risk of suffering huge losses.
Where exactly is the TopFX corporate office located? TopFX's headquarters may be found on the island of Providence Mahe in the Seychelles.
Who is the Chief Executive Officer of TopFX? Alex Katsaros is the Chief Executive Officer of TopFX. He received his Master of Business Administration degree from the University of Macedonia, where he concentrated on finance and business administration. Over the course of the previous 8 years, Alex Katsaros has served as the Chief Executive Officer of TopFX.
What social media platforms does TopFX have accounts on? The following are the social media profiles that traders may follow to stay up to date with TopFX:
How many people are employed by TopFX currently? TopFX is said to have somewhere between 10 and 50 people working for it, according to reliable sources.
What are people's thoughts towards TopFX? TopFX is a worldwide renowned and trusted brand operating under the Fondex name, and it provides traders of all experience levels with exceptional trading chances and circumstances, including some that are highly competitive. In addition to this, TopFX is well-known for offering several liquidity options to brokerage firms and other investment companies.
What exactly are these TopFX competitions? TopFX does not sponsor any contests.
There are no contests running at this time on TopFX, and there are no announcements on the official websites that indicate there may be contests running in the future.
Does TopFX offer help through the internet? Yes, TopFX provides online assistance in the form of a live chat feature, and representatives are accessible to assist customers 24 hours a day, five days a week.
Does TopFX provide demo accounts for trading foreign exchange (Forex)? Yes, a free demo account is available to all new traders who sign up with TopFX. The following instructions will walk you through establishing a demo account:
Forex traders who are interested in TopFX's services can visit the company's official website and pick the "Open a Live Account" option.
The first thing you need to do is register for the client portal by filling out the brief registration form that is found online.
After the forex trader has validated their email address, they are able to connect into their client portal and pick the option for a demo account from the list of possibilities that are presented to them.
Does TopFX offer a mobile app for trading forex on mobile devices? Trading foreign exchange with a TopFX-specific mobile app is not yet available.
Instead, TopFX provides mobile versions of MetaTrader 4 and cTrader, in addition to its own live trading account for customers. These two different trading systems are both strong and widely used. Each trading platform comes with its own set of features, trading tools, analysis, and graphs, as well as a number of other essential aspects that combine to make them the most effective in the sector.
These trading platforms may be downloaded on mobile devices running Android and iOS, and MetaTrader 4 is also accessible on mobile devices running Windows Mobile.
Does TopFX make an economic calendar available to the public? Unfortunately, the TopFX official website does not have the company's own own economic calendar.
The ability to access pertinent economic information that is due to be released is made available to traders through the use of an essential trading tool known as an economic calendar. These kinds of occurrences have the potential to influence the financial markets and, as a result, the trader's activity.
Forex traders have the option of using the economic calendars that are given on MetaTrader 4 and cTrader, respectively, in order to have access to an economic calendar.
What kind of contact information does TopFX have available? TopFX maintains a single principal location for its operations, as well as a single principal telephone number.
TopFX can be reached at CT House, Unit 8, Office No 8H, Providence Mahe, Seychelles. This location serves as the company's business address.
The following phone number, +24 846 719 87, can be used to get in touch with TopFX:
Forex traders also have the option of going to the Nasdaq website's "Contact Us" page and filling out the contact request form there to send a message to the company.
The Nasdaq Stock Market is the second biggest stock exchange in terms of market capitalization. It is also known as the US Tech 100 or the Nasdaq composite. The leading technological companies in the United States are followed by Nasdaq.
Can you tell me about the TopFX Awards? There is no mention of TopFX having received any accolades anywhere on the company's official website. TopFX is a forex broker.
How to Make the Most of TopFX When Trading Forex To be able to utilize TopFX, a forex trader has to have the following requirements:
In order to pass TopFX's "Know Your Client" or KYC procedure, traders are required to provide a copy of their official identity document in addition to verification of their residential address.
To open a live trading account and begin trading, a trader must be at least 18 years old. Traders who are younger than that cannot open an account.
When opening their initial trading account, investors are required to have a minimum investment of fifty dollars in their trading account.
When a forex trader has satisfied the requirements outlined above, TopFX will allow them to register for a forex trading account so that they may utilize TopFX's services.
How can I create a trading account with TopFX to engage in foreign exchange trading? A trader who is interested in opening a Forex Trading account with TopFX should follow the procedures that are outlined below.
The forex trader may open a live account by going to the official TopFX website and selecting "Open a Live Account" from the menu bar that appears at the very top of the page.
By picking the appropriate banner, the forex trader has the ability to select either a Raw Account or a Zero Account to use.
The forex trader will then be sent to a new page that contains an online application form that they are required to fill out.
The forex trader is required to submit their favorite trading platform, language, first and last name, email address, country in which they now reside, cellphone number, and language.
Before clicking "Create Account," a forex trader is required to check a box indicating whether or not they would like to be contacted with promotional emails and newsletters.
The forex trader will be sent to a new page where they will be required to decide whether they want to trade using a live account or a corporate account.
This will take them to a more in-depth application form where they will be required to supply information about themselves, including their personal finances, job history, and trading experience.
Before the trader's account can be authorized, a copy of their government-issued photo identification as well as a current utility bill must be provided as evidence of residency.
What are the different types of Forex Trader Accounts that TopFX offers? TopFX is a Forex Trading Platform and Financial Asset Management Institution that provides customers with a choice between five distinct account kinds.
The many types of TopFX accounts are shown below.
Account Types: Raw Account Demo Account Islamic Account Zero Account
1. Free Trial Version
Demo accounts are available to forex traders through TopFX, who can choose to sign up for one. Demo accounts are simulated versions of live trading accounts that use fictitious funds but replicate real-time market circumstances. Beginner foreign exchange traders can use it as a practice account, as a risk-free strategy test account, or simply to investigate what other services TopFX provides.
2. The Islamic Financial Account
Muslim traders who follow the Sharia Law have the option of changing their live trading account into a Swap-free or Islamic Account with TopFX. This option is available to traders who follow the Sharia Law. Because of this, there are no swap or rollover interests on overnight holdings incurred by Muslim traders even if they participate in a variety of worldwide marketplaces.
3. The Unfiltered Account
Forex traders who prefer a raw price feed and fees that are levied separately may find the TopFX Raw Account to be an excellent choice. The following are some of the characteristics of the Raw Account:
Spreads beginning at 0.0 pips
Both the US Dollar and the Euro can be used as the account base currency.
Leverage available of up to 1:500.
Commission beginning at $2.75 for each side, per lot
35 percent cut-off point in the process
Deposit requirements that are variable and dependent on the chosen mode of payment
The capacity to make use of expert advisors (EAs) and trading robots in forex
Access to No-Dealing-Desk (NDD) execution on both cTrader and MetaTrader 4, respectively.
Options for Islamic Banking Accounts to Access
TopFX's ability to supply liquidity, which helps ensure prompt deal execution
4. ZERO Account
Forex traders may take advantage of low market spreads that include everything in the price with a TopFX Zero Account, as well as ultra-fast transaction execution and an effective, competitive trading environment. The following are some of the characteristics of the Zero Account:
Spreads starting at 0.5 pip
Both the US Dollar and the Euro can be used as the account base currency.
Leverage available of up to 1:500.
free of charge trade commissions
35 percent cut-off point in the process
Deposit requirements that are variable and dependent on the chosen mode of payment
The capacity to make use of expert advisors (EAs) and trading robots in forex
Access to No-Dealing-Desk (NDD) execution on both cTrader and MetaTrader 4, respectively.
Options for Islamic Banking Accounts to Access
TopFX's ability to supply liquidity, which helps ensure prompt deal execution
How can I remove money from my TopFX account? The following steps need to be taken in order to withdraw money from TopFX:
Forex traders and clients who have already established an account can access the official TopFX website.
The forex trader can log into their TopFX Client Area and proceed to the withdrawal area after they have done so.
The forex trader can fill out TopFX's online withdrawal request form and then send it in to the company.
Traders who wish to withdraw funds are need to be aware that the withdrawals must be processed via the same method that was used to make the initial deposit.
After receiving a withdrawal request, it will be handled and completed within one business day. This clock starts ticking the moment the request is received.
Because the processing time required by the payment provider might vary, it is possible that the cash will take more than one business day to reach the bank account of the forex trader.
How many days does it take for TopFX to process deposits? The length of time required for processing will be determined on the mode of payment that was chosen.
Instantly with a debit or credit card transaction
Three to five business days are required for a SEPA Wire Transfer (EU) payment.
Bank Wire Transfer International: Three to five business days
Instant Crypto Wallets Perfect Money Instant Paymero Instant PayTrust Instant UnionPay Instant WeChat Instant
Where can I get information about TopFX's prices and commissions? Spreads, commissions, and swap or rollover fees are the four categories of expenditures that might be incurred while working with TopFX.
The gap between the price at which something is being offered for sale and the price at which it is being asked for is referred to as the spread. This difference is measured in basis points (pips), and it can change based on the conditions of the market. The commissions that TopFX requires are paid in the form of a flat fee per lot and per side.
When traders continue to hold open long or short positions after the trading day has ended, the swap costs associated with those positions will either be deducted from or credited to their accounts.
What is the lowest amount that may be deposited into TopFX? The minimal beginning amount that is advised is fifty dollars.
In this review of TopFX, we take a look at the services offered by an institutional forex Prime Brokerage that has been around for a long time. The majority of the company's focus is on acting as a liquidity provider to several other forex brokers. The company offers its services to additional professional clients such as hedge funds, investment companies, professional traders, and corporations in addition to providing liquidity to FX brokers. Retail customer accounts are not directly accepted by TopFX at this time. To be able to trade as a retail customer with TopFX, you will need to be a resident of a country outside of Europe and you will need to be introduced by an introducing broker.
TopFX is a Prime Brokerage with its headquarters in Cyprus. The company was established in 2010. The company is authorized to conduct business in Cyprus as an investment firm by the Cyprus Securities and Exchange Commission (CySEC) and holds a license with the commission with the number 138/11. In more recent times, the business was awarded a license by the Seychelles Financial Services Authority (FSA), which bears the number SD037. TopFX, like any other broker, places customer funds in segregated accounts with Tier-1 worldwide banks. These accounts are kept fully separate from the company's operational funds.
One of the things that sticks out to us about TopFX is the fact that the firm was one of the very first LPs to connect its liquidity into the cTrader platform. This is just one of the many ways that TopFX stands apart. Later on, the business expanded its offerings even further by developing an All-in-One broker solution, with cTrader serving as the primary component of the whole product.
Alex Katsaros, a prominent industry professional who was once the head of product development at Spotware, currently serves as the CEO of TopFX. Alex was one of the people who helped design cTrader back when it was in its earliest stages, and his contributions were critical to the platform's overall success. Alex went on to TopFX after working for Spotware for around five years. Even though he is now working for a new firm, he appears to be driving the growth and acceptance of the cTrader platform. We had previously conducted an interview with Alex Katsaros because he is such an important part of the cTrader community. During the conversation, we discussed a number of significant topics, including the genuine benefits that cTrader provides to brokerage firms.
TopFX's role as a Liquidity Provider essentially amounts to that of a broker for other brokers. They provide brokers linked to several trading platforms using the FIX API with the ability to open trading accounts with them. The company offers liquidity for foreign exchange, precious metals, energy products, indices, and a variety of other contracts for difference (CFDs).
Finding the proper partner is essential for brokers since liquidity providers are mission-critical to their businesses. A strong Liquidity Provider has to have a large order book in order to fulfill their customers' demands and avoid disappointing them. The technology must have a high degree of dependability since errors, lags, and missteps cost not just money but also reputation. The customer service should pay attention to details and be able to handle problems quickly. In addition to all of above requirements, the service has to be efficient in its use of resources. Because this is such a lofty goal, the Prime Brokerage area has some of the most severe requirements of any market.
TopFX provides its broker customers with a variety of additional services designed to be helpful. One example of the extra value that may be provided by a company is the All-in-One broker solution that we have discussed in the past in greater detail.
Because TopFX does not directly accept retail clients, the only way for retail clients like the majority of our readers to trade with the company is through an introducer. The business assures clients that they will have access to 1000 trading products via the MetaTrader 4 and cTrader platforms, that pricing will remain stable even when placing huge orders, that there will be no slippage and no requotes, and that deposits and withdrawals will be processed quickly.
Retail customers may take use of all that cTrader and MetaTrader 4 have to offer while also benefiting from the favorable terms offered by a liquidity provider. Manual traders, traders who supply trading strategies, and traders who use automated trading algorithms are all welcome. Only customers who are covered by TopFX Seychelles Securities Dealer License No. SD037 have access to the retail trading products that are discussed in this post.
The All-in-One Brokers Solution offered by TopFX goes far further than what is offered by cTrader. They have designed a comprehensive package of services for new brokers, which includes everything needed to start up and run a CFD brokerage. They assist brokers in critical and frequently challenging areas such as creating bank accounts, receiving payments, establishing a website, connecting with a customer relationship management system, and reporting compliance issues, amongst many other things.
TopFX is an online trading broker that provides online trading of more than a
thousand financial instruments across a variety of asset classes, such as forex,
indices, shares, metals, energies, ETFs, and more, via multiple advanced trading
platforms. TopFX's offerings include trading of forex, indices, shares, and
more. Traders all over the world may take advantage of the full range of
services that are available through the all-in-one broker solution provided by
Since 2010, TopFx has been serving retail forex traders in addition to supplying investment companies with institutional liquidity. TopFx is an established broker. Traders have access to highly developed trading platforms such as MT4 and cTrader from this company. These systems offer price streams free of artificial slippage and requotes, lightning-fast execution of orders at or below 25 milliseconds, and competitive spreads and commissions.
Fondex Limited, a company that is registered under the Laws of Seychelles and licensed by the Financial Services Authority (FSA) of Seychelles with a Securities Dealer License No: SD037, doing business as TopFX. TopFX is a trading name of Fondex Limited. In addition to this, they are subject to oversight from the Cyprus Securities and Exchange Commission (CySEC).
Citizens of countries such as the United States of America, Japan, North Korea, and Iran, as well as residents of other nations, are not eligible to use TopFX's services since such services are illegal in those countries.
They supply traders with the MT4 platform, which is now the platform that is most widely used by traders all around the world. It is easy to use, it can be customized, and it is straightforward enough for inexperienced traders to practice trading on a demo account. MT4 gives you access to a variety of indicators, enables you to trade with an expert adviser, and lets you mimic the moves of your money managers.
Additionally, the advanced cTrader trading platform is made available to customers of the company. It can Trade, Copy, and Automate, which are its three primary features. The Trade interface for manual trading is a premium, cross-device, DMA platform that boasts of an incredible array of trading and risk management capabilities to suit even the most demanding trader. The Trade interface was designed to be used by traders who like to trade manually. You are able to duplicate methods thanks to the Copy capability of the platform, despite the fact that there is no assurance of the outcomes and the fact that your cash is at risk whenever you trade online. cTrader's "Automate" functionality enables automated trading, which can appeal to traders who favor using robots to trade or to algorithm traders who are interested in developing their own cBots and custom indicators. cTrader's aim with this functionality is to attract traders who prefer to trade using robots.
Trading platforms MT4 and cTrader may be downloaded as desktop software for Windows and Mac computers, as well as for WebTrader and mobile apps for Android and iOS devices.
On the website of the broker, there are no well-defined independent trading tools, but the trading platforms that are supplied should have enough built-in tools to please even the most demanding traders.
The broker makes available to its customers a wide variety of instructional tools, which may include press releases and interviews, events, market holidays, trading articles, and videos.
Online trading is available with TopFX for more than a thousand trading instruments across a variety of asset classes. These trading instruments include forex, indices, shares, metals, energy, ETFs, and more.
Accounts When it comes to trading with TopFX, clients are only given access to a single account that they may use for all of their trading needs. Clients have the option of opening their accounts in a variety of currencies, including the Euro (EUR), Japanese Yen (JPY), United States Dollar (USD), Swiss Franc (CHF), and Great British Pound (GBP).
You may get in touch with the customer service staff of the broker by calling them, sending them an email, chatting with them on their website, or filling out the 'contact us' form on the broker's website.
The following kinds of currency and payment methods are accepted by the broker:
Wire transfer from the bank, Credit and debit cards (Visa and MasterCard) and online payment processors like Neteller and Skrill are acceptable forms of payment.
Simply clicking on the "Open Account" button and filling out the provided form correctly will allow you to create an account.
TopFX is a licensed online broker that gives clients access to more than a thousand of the most important financial markets. Customers have access to a user-friendly copy trading solution in addition to terminals like as MetaTrader 4 and cTrader. In this review of TopFX, we delve into every facet of the forex broker situated in Cyprus, from the straightforward sign-up procedure and generous welcome bonus to the competitive leverage rates and varied live account choices.
In 2010, TopFX Ltd. was established with the intention of supplying forex brokerages, investment businesses, and hedge funds with liquidity as well as white label solutions. Since then, the business has expanded its operations to include the retail trading industry, where it now offers leveraged forex, CFD, and ETF investment.
TopFX utilizes a Straight Through Processing (STP) trading approach and has an active clientele spanning Europe, Asia, and Africa. Some of these countries include Indonesia, Thailand, Malaysia, Vietnam, and Nigeria. The product has won a number of accolades, and evaluations from customers frequently mention how quickly withdrawals may be processed and how reasonable the trading expenses are.
The Cyprus Securities and Exchange Commission (CySEC), the United Kingdom Financial Conduct Authority (FCA), and the Seychelles Financial Services Authority (FSA) have all issued licenses to the online broker (Financial Services Authority). These organizations are trustworthy and instill a certain level of confidence among traders.
Clients have access to both the MetaTrader 4 (MT4) and the cTrader trading platforms. Both MT4 and cTrader may be used as desktop clients, web-based platforms, or mobile applications for use on smart devices.
Both platforms have received positive feedback from members of the forex community and may be customized to meet the requirements of individual traders. While MT4 has been lauded for its ease of use, adaptability, and support for algorithmic trading, cTrader has been recognized for its more advanced trading tools and features, including the ability to duplicate trades.
cTrader In recent years, cTrader has established itself as a formidable competitor to the MetaTrader platforms. Its user interface is sleek and up to date, and it includes charts and watchlists that may be personalized. The program provides access to over 70 different technical analysis indicators in addition to 54 distinct periods.
cTrader has three distinct kinds of market depth, in addition to level 2 pricing. Users have the ability to engage in algorithmic trading through the use of cBots, which carry out the same role as Expert Advisors in MT4. With an internal processing speed of under 3 milliseconds, cTrader is also one of the quickest retail trading systems available.
cTrader has the following features:
In-depth information on the symbols and real-time sentiment data
Take Profit and Stop Loss orders with Advanced Settings
Several distinct types of charting
Trading with a single click
Additionally, TopFX now offers copy trading services using the cTrader trading interface. Investors are able to rank trading techniques and replicate the positions of other successful traders as a result of this. Users have the ability to change the amount of money that is invested in a certain strategy as well as have access to thorough data on all open and closed positions. The complete inventory of trading assets provided by the broker is at your disposal.
Customers of TopFX get access to more than 30 pre-installed indicators on MT4, as well as trading bots that are referred to as Expert Advisors (EAs). On the MetaTrader marketplace, additional indicators and expert advisors are available for purchase. Users also have the ability to construct bots and indicators by utilizing the MQL4 programming language.
The following are some of MT4's features:
In-depth information from the past
Simple alterations are possible.
Charts with interactivity
Trading with a single click
Access to more than one thousand markets is available with TopFX, which also provides an extensive selection of currency pairings that includes majors, crosses, and exotics.
The following types of marketplaces are available:
90 different currency pairings
There are 15 stock indexes.
Customers who open an account with a financial services provider that is regulated by the FSA are able to speculate on the value of Bitcoin, Ethereum, Litecoin, Ripple, Dash, and Bitcoin Cash.
Where a consumer registers an account determines the amount of leverage that TopFX makes accessible to them. As can be seen in the next section, various regulators impose various limitations on leverage.
When trading on margin, it is imperative that you make use of the right risk management tools at all times.
Leverage from the CySEC
Exotic/cross currency pairs can trade at up to 1:20, while major currency pairs can trade at up to 1:30. Energy CFDs can trade at up to 1:10, while metal CFDs can trade at up to 1:20. Index CFDs can trade at up to 1:20, while share CFDs can trade at up to 1:5. Exchange-traded funds can trade at up to 1:5. Leverage
Major currency pairings, with a maximum leverage of 1:500
CFDs on exotic currency pairs can be traded at up to 1:100, Energy CFDs can be traded at up to 1:200, Metal CFDs can be traded at up to 1:200, Share CFDs can be traded at up to 1:20, Crypto CFDs can be traded at up to 1:10, and Index CFDs can be traded at up to 1:200.
Downloads of the mobile versions of MT4 and cTrader are available for smartphones running the iOS and Android operating systems. Through the use of these programs, customers are able to monitor their accounts and place trades from any location they want.
The cTrader software is very complex, with 26 different periods and 5 different chart kinds, in addition to the Watchlists function, which allows users to organize instruments into different categories. Under the tab labeled "Blotter," the software also mixes trading indications, information about the market, and news updates. The MT4 app, on the other hand, contains over 30 technical indicators but just three types of charts and nine different periods to choose from. Both of these mobile applications have user interfaces that are clean and simple to navigate. TopFX is a brand that is owned by Fondex Limited, which is a company that is registered in Seychelles.
Another location of the organization may be found in Cyprus, where it operates under the name TopFX Ltd. The forex broker TopFX is regulated by both CySEC and the FSA. At least at the Cyprus part of the firm, there is a high degree of openness regarding the ownership structure and the management team.
According to the website, TopFX stores the money belonging to its customers in separate accounts at Barclay's and other prestigious financial institutions.
Customers have the option of doing business in either the CySEC regulated zone or the FSA zone. It has come to our attention that the FSA zone provides a somewhat limited amount of information. One possible explanation for this is that an offshore regulator is not as stringent as CySEC.
We caution our customers to exercise caution when selecting an organization to work with this broker and to check that it is in compliance with the regulations of their nation.
Both the MT4 and cTrader trading platforms are made available to customers of the TopFX broker.
Traders new to the market will find MT4 to be a straightforward interface with everything clearly laid out. On this site, customers in the FSA zone are able to engage in Copy trading.
It is possible to use the platform on computers running Mac OS X, Windows, iOS, or Android.
cTrader is another another platform that may be used with this broker. This platform has a much higher level of sophistication than others and is designed to be utilized by more seasoned traders. Additionally, copy trading is possible in the FSA zone using this platform.
The platform may be accessed through the web or on a desktop computer, in addition to being compatible with smart devices. It is compatible with mobile devices running Windows, iOS, and Android. Traders are able to make use of an automated trading system on this trading platform as well.
In which nations does this broker do their business? Because of its regulatory framework, TopFX broker is permitted to provide financial services in the EEA zone as well as in other jurisdictions provided that it is in compliance with the trading regime in those areas.
Countries like as Belarus, Indonesia, Malaysia, Nigeria, Swaziland, Thailand, and Ukraine are among those that are permitted in addition to those in the EEA zone.
This broker is permitted to provide financial services in any nation where it satisfies the requirements of the FSA TopFX regulation as long as the standards are met.
TopFX does not conduct business in the United States of America, Japan, North Korea, Iran, or any other country where investments of this nature are illegal.
The TopFX broker provides access to a wide variety of trading assets. Customers have the opportunity to trade on the Foreign Exchange market with shares, commodities, indices, and cryptocurrency. The fact that the broker provides access to more than 1,000 different trading assets positions it as a leading offer broker.
The leverage is contingent on the entity to which the customer belongs. In the CySEC zone, it can go as high as 1:30, whereas in the FSA zone, it can only go as high as 1:200.
The spread varies, and its specific value is determined by the kind of account that you want to use (Raw or Zero).
In addition to these two varieties, the firm also provides access to a Demo account and an Islamic account that does not include swapping.
A customer is allowed to make a deposit of a minimum of 200 dollars. It is possible to do so with a debit or credit card, a wire transfer, or an electronic wallet. Withdrawals may be made in the same manner, and the time required to complete them can range anywhere from three to seven business days, depending on the amount and the method chosen. The only time the firm levies a fee for withdrawals is when the amount being withdrawn is less than one hundred euros and it must be done via wire transfer (10 EUR fee). Our 2022 Broker Review Audit did not include this broker in any of its findings. This is due to the fact that over the preceding year it did not successfully complete our first screening procedure and is not recommended by our group of knowledgeable specialists. As a consequence of this, it is possible that some of the information provided here is no longer accurate.
We put every broker through our rigorous and one-of-a-kind evaluation process to guarantee that we will only recommend reliable and high-quality products to our users. This technique takes into account more than 200 different criterion points, including areas such as security, fees, platforms, goods, payments, and customer support. After that, each broker receives a score out of a possible 100. In order to provide you with information that is as current as possible, both our approach and our suggested reviews are updated on a yearly basis.
We won't suggest a broker to you if it has a score that is lower than 80, which is the case with this one. We don't bother to update these evaluations either, because we don't want to waste your time. We are aware that you do not wish to read a lengthy assessment of a broker that cannot be trusted. Instead, you may identify a high-scoring broker that welcomes customers from your nation by making use of the tool that has been provided below.
TopFX is a foreign exchange (Forex) brokerage company that operates online and provides clients with a wide range of services in addition to the option to trade in Forex. It is an international asset management organization that specializes not only in providing liquidity but also in making investments in foreign currency exchange markets. In 2010, when it made its initial introduction to the general public, the company made the bold claim that it could offer Forex trading techniques that would significantly outperform those of other types of investments, such as government bonds, physical assets, and shares. Institutional clients as well as private investors are the target audience for its services. With a strong focus placed on developing one's skills as an introducing broker. However, rather than focusing just on this one particular product, we are going to investigate some of the other opportunities provided by TopFX brokers.
As a result of having its headquarters in Limassol, TopFX is authorized and
supervised by the Cyprus Securities and Exchange Commission (CySEC).
Additionally, it is in possession of a cross-border license, which grants the
business the authority to offer investment and related services to the member
states of the EU as well as to 75 other nations. TopFX operates in compliance
with all EU and local rules that are currently in effect. The Markets in
Financial Instruments Directive (MiFID) and the Cyprus Investment Services and
Activities and Regulated Markets Law of 2007 are two examples of these
TopFX is pleased to provide its IBs and customers with a unique trading experience through the use of the cTrader platform.
TopFX is providing its customers with the possibility to trade on a platform that is a little bit different from the standard MetaTrader 4. The cTrader Startup Special Offer is presently being promoted by this company. This service gives users access to the most advanced trading platform suite as well as a top-tier liquidity solution. They have set the price of the bundle at a level that is competitive in order to provide newcomers to the market with a head start. In a field with so much competition, this is not an offer that should be declined. TopFX gave experienced FX affiliates and Introducing Brokers the option to bring clients to the company in 2015 when they launched their Introducing Broker program. Due to the fact that TopFX is one of the largest Prime Brokers in Europe, this brings about a variety of significant advantages. TopFX's NOP limit is greater than 825 million. Retail FX traders get the opportunity to experience trading on an institutional level with a very small initial deposit, spreads that are far tighter than the competition, rapid STP execution, and adjustable leverage.
With TopFX, you only have the option of signing up for one account. The minimum deposit required is merely $200 (in either US Dollars or another base currency). The type of financial instrument that is being traded with can determine the maximum amount of leverage, which can go up to 1:500. The maximum leverage for currency pairings is 1:500, whereas the maximum leverage for oil and metals is 1:100, the maximum leverage for indices is 1:200, and the maximum leverage for stocks is 1:20. At TopFX, the spreads may be adjusted, with minimums starting at 1.5 pips, and the company guarantees that there will be no commissions or other extra expenses. This broker uses a type of execution known as agency STP, and there is no dealing desk present to cause any complications. This guarantees that the broker does not have any conflicts of interest with regard to the customer that they serve. And because TopFX is a Prime brokerage business, customers may take advantage of deep liquidity from more than 12 Tier 1 banks as well as a protection against negative balances that is guaranteed.
When we attempted to register an account with such a high-level broker, we were pleasantly pleased at how simple the process was. You may imagine that opening an account with such a broker would be very difficult. Along with a straightforward application form, applicants are required to produce several pieces of identification in order to validate their claims. The following currencies may be used to open accounts: GBP, EUR, USD, and CHF. Our application for an account was processed and authorized in less than a day. After the account has been established, new customers have access to an extremely user-friendly client area and are assisted by a customer service staff for the duration of their relationship with the company.
The process of funding a trading account is rather uncomplicated as well. The following types of electronic payment systems are accepted: wire transfers, credit and debit cards, Skrill, Neteller, Webmoney, and China Union Pay. Since the most up-to-date SSL technology is used to encrypt all sensitive personal and financial data, you can feel certain that the information you provide will be kept private. TopFX does not charge any fees for deposits, however some of the third party payment providers may do so. TopFX does not take a cut of these costs. If a deposit is not made using a wire transfer, then money will show up in a trading account as soon as it is deposited. In accordance with the rules, the monies belonging to customers are put into a Tier 1 bank account. This ensures that the funds do not show up on the balance sheet, that they are protected from TopFX's creditors, and that they cannot be appropriated by the company for its own use.
TopFX is able to provide a wide variety of additional services on account of the fact that it is a Prime broker. These are the following:
Liquidity in the foreign exchange market that is extensive for brokers and other authorized financial organizations
Asset management service that employs their own proprietary trading strategy and is overseen by experienced market traders
A great number of FX brokers have come to the conclusion that it is not enough to just provide their customers with the chance to trade currencies; rather, they must do a great deal more in order to attract new customers and continue to do business with the customers they already have. Because of this, many new features that make Forex trading much more fun, more profitable, and with less risk have been created by several Forex brokers as a result. In addition to that, it guaranteed that it would present a variety of Forex trading techniques that, in the long run, would beat the performance of other kinds of investments. Even though there aren't many adverts to be seen, this foreign exchange trading broker has yet managed to build up an amazing clientele from countries all over the world. The dependability and trustworthiness of this Forex trading broker, together with the safety policies that are put into place by this company, have helped TopFX broker for Forex trading become one of the most well-known brands in the industry as a whole. The TopFX review will focus on the primary aspects of this foreign exchange (Forex) broker as well as the advantages that TopFX has to offer its customer base.
The Cyprus Securities and Exchange Commission, often known as CySEC, is the regulatory body that has registered and licensed TopFX as a Forex broker, just as it has done for the vast majority of other Forex brokers. This foreign exchange trading broker is licensed in Cyprus under the name TopFX Ltd., with the license number 138/11; it was registered in 2011. The fact that the TopFX Forex broker is registered by the European Economic Area (EEA) as well as the Markets in Financial Instruments Directive (MiFID) in addition to being registered in Cyprus gives it the ability to engage in the market across the entirety of the European Union. This foreign exchange broker is active in many different parts of the world, including the Asia Pacific region, West Europe, South East Europe, North Europe, North America, Latin America, Japan, India, China, the Middle East and Africa, and numerous more locations across the world. All of the areas that we have discussed up to this point are home to at least one of their offices. When a client uses this broker, the TopFX firm gives them access to a wide variety of financial instruments for trading, including indices, shares, and commodities, amongst other things.
TopFX, in contrast to a significant number of other Forex brokers, does not provide the industry-standard MetaTrader 4 platform for its customers to utilize in their trading. Instead, they are offering the possibility for their customers to trade on their very own platform, which goes by the moniker cTrader. Clients or traders will be able to use the greatest features now on the market thanks to this platform. Additionally, traders will have access to a Tier 1 liquidity solution, which has the potential to make this process even less dangerous than it already is. There is also a mobile edition of TopFX accessible for individuals who wish to trade forex using their mobile devices. This Forex broker has been created for both iOS and Android-operated mobile devices, thus it makes no difference to the trading experience for clients whether their mobile devices are powered by Android or iOS. Because it would be something new for the customers, the company took the bold step of providing them with their own trading platform rather than utilizing one of the existing well-established and well-known platforms like MetaTrader 4 or MetaTrader 5. This was a truly courageous decision on the company's part. Moving to a completely new platform could be difficult for clients who already have some expertise in Forex trading because such clients have most likely done their trade on one of the platforms that were discussed earlier.
One of the most significant issues that has persisted over the course of many years and has been brought to light on several occasions is connected to the various types of accounts that are made available by this Forex broker, or more specifically, the lack of options. When trading with this forex broker, TopFX customers only have access to a single account of their own to utilize for all of their trading needs. Clients have the option of opening their accounts in a variety of currencies, including Euros, Japanese Yen, United States Dollars, Swiss Francs, and British Pounds. The account requires a minimum deposit of $200, which can also be made in the same amount using another currency. When we talk about deposits, it is important to note that specific sums of money can be deposited without being subject to a fee. This is something that must be specified when we talk about deposits. The leverage that is available with this kind of account can be as high as 1:500, but the exact ratio relies on the kinds of financial products that the customer intends to trade in. It is important to point out that creating an account with this Forex broker is a pretty simple process; it will not take a significant amount of time, and the broker will not need any additional documentation from you in order to validate your identity.
In addition to the difficulty that just one type of account is affected, another problem or issue is the fact that this Forex broker does not offer any form of incentives or promotions of any kind to its customers. However, this might be an issue when trying to attract new customers, as such customers are more likely to pick another Forex broker to employ for their trading if that broker offers incentives and promotions, rather than the one that does not provide any bonuses or promotions of any type.
The process of creating an account with this foreign exchange broker is really simple, and the amount of work required to do so is little, as we have already indicated. In the same way that creating accounts is a simple procedure that can be completed with just a few clicks, putting money into such accounts is also a very simple process. TopFX broker gives their customers access to a number of various banking options, including a variety of credit and debit card options, Skrill, Webmoney, China Union Pay, Neteller, and a few more options as well. The fact that the funds deposited using these ways are highly safe and that the dangers of mismanagement of those funds are virtually impossible is one of the most essential factors. The risks of mismanagement of those funds are practically impossible.
When trading with this Forex broker, clients have access to a number of different channels via which they may communicate with representatives from the customer support services in the event that a client runs into difficulties or has problems of any kind. Among these options include sending an e-mail, making a phone call, going to their office in person, and engaging in live chat. Clients of TopFX need to be aware of the fact that their inquiries and concerns regarding particular matters will be addressed and handled in a very timely manner.
TopFX is a foreign exchange brokerage firm that was made available to traders all over the world in the year 2010. The foreign exchange business activities of TopFX are headquartered in Limassol, Cyprus, despite the fact that the company serves one of the largest groups of retail traders around the globe, from South and North America to Asia and the Pacific. Not only does TopFX serve as a prime Forex brokerage that deals in Forex currency pairs, indices, equities, and CFD trading, but it also offers its services to investors by providing a wide range of asset management services through active and passive fund management. TopFX manages both active and passive funds for its clients. In order to guarantee that the broker is operating well within its risk threshold, TopFX has a global reach and a categorical NOP limit of $825 million in transaction volumes. One of the most significant drawbacks of the TopFX brokerage is that it does not offer an ECN account option; however, the broker makes up for this shortcoming by providing a STP model that offers a combination of direct market access and automated dealing desk trading protocols, which helps to make up for the shortcomings of the TopFX brokerage. When it comes to trading the news and investing in the markets during times of high volatility, the possibility of TopFX having a little conflict of interest with its traders should be expected. This is especially true when trading the news.
A single trading account may be used to trade foreign exchange (Forex), equities (stocks), indices, and CFDs (contracts for difference), and a minimum deposit of $200 is required to open a TopFX trading account. When it comes to trading shares, the highest leverage offered by TopFX is 1:20, however when it comes to trading Forex currency pairs, the maximum leverage is set at 1:500. Due to the fact that the leverage and minimum margin requirements vary depending on the type of financial instrument being traded, the currency markets are able to take use of the maximum leverage that is made available by the organization. Even while it might not seem like much, we generally do not advise using any form of leverage that is greater than 100 to 1. Traders, on the other hand, will have the opportunity to experiment with high-risk trading calls and play around with their trading strategy thanks to the greater leverage option. This will help them get a better knowledge of their tolerance for risk. The fact that TopFX works using a combination of market maker and STP methods does, however, result in an average spread of 1.5 pips for the major currency pairs that are traded. Although we wouldn't go so far as to say that the spreads are extremely competitive, it is true that the broker's spreads are slightly wider than those of most other current STP Forex brokers. Even if there is no commission on transactions, traders are still required to pay SWAP along with any and all other costs that may be involved with forex trading.
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The Cyprus Securities and Exchange Commission oversees TopFX, ensuring that the company maintains a high level of corporate governance and compliance (CySEC). Under the terms of the agreement establishing the European Economic Area (EEA), the corporation is also registered with the Financial Conduct Authority (FCA), the BaFin, the Banque de France, and all of the other major regulatory agencies in the EU. The European Markets in Financial Instruments Derivatives (MiFID) is in charge of monitoring the safe operation of Forex brokers and other non-banking financial organizations that are located in the European Union (EU). TopFX regulation is carried out in accordance with the regulatory policies and framework created by MiFID. TopFX has entered into a partnership with Barclays, a top-tier investment grade bank in the globe, to store the money of its customers in separate bank accounts in accordance with the regulatory framework established by CySEC. In addition, the Cypriot Securities and Exchange Commission (CySEC) has mandated that all Forex brokers doing business in the country maintain a minimum of one million Euros (or €1,000,000) in operating capital. This capital must be held in entirely separate bank accounts from any money belonging to customers. Because of this, in the event that there are any legal difficulties, the cash belonging to customers can be readily differentiated from the working capital of the firm, which in turn enables investors to collect the money that is rightfully theirs without any big concerns. TopFX is also subject to the regulatory supervision and legal jurisdiction of other leading regulators within the European Union. These regulators may stipulate different guidelines for TopFX to follow while offering their services to traders from a particular country. TopFX is subject to all of these regulatory supervision and legal jurisdiction requirements. Therefore, failing to comply with the regulations ought to bring a variety of legal repercussions in addition to stringent fines, which placed investors at the heart of TopFX's priority list for service delivery. If a broker is unable to pay its client obligations owing to the broker's insolvency or bankruptcy, TopFX's Investor Compensation Fund (ICF) will cover client money up to a maximum of €20,000. This protection is offered in the event that the broker is unable to pay its client debts.
To be able to provide its numerous products under the CySEC umbrella, TopFX
has enlisted the assistance of MT4 and the cTrader trading platforms. The MT4
trading platform is primarily intended for use as a market maker, whereas the
cTrader trading platform is a proprietary STP/ECN trading platform. Therefore,
it would be in the best interest of traders to go with the cTrader app,
particularly with the cTrader Startup offer, which provides a variety of
additional services and product benefits in addition to a basic trading account.
On the other hand, the MetaTrader 4 (MT4) platform may be more suited for
traders who are more familiar with the MetaTrader platform. This platform gives
customers access to one of the largest libraries of expert advisors (EAs),
indicators, and charting choices available. TopFX mobile applications,
specialized desktop trading platforms, and mobile WebTrader versions are all
available for the MT4 and cTrader versions of the trading platform. When it
comes to the selection of TopFX platforms, customers surely have a plethora of
options to choose from, which further enables traders to trade on various
versions according to the requirements of their particular trading strategies.
You may put money into your TopFX trading account using any of the common
payment methods, including Skrill, Neteller, credit and debit cards, bank wire,
WebMoney, and UnionPay. These payment alternatives do make it possible for
traders to deposit or withdraw money using some of the quickest and safest
payment solutions that are now on the market. When compared to online e-wallets
or credit/debit cards, the transfer of funds by wire transfer from a bank would,
of course, require a substantial wait. However, on the whole, the process of
depositing and withdrawing money ought should be simple and risk-free. This is
what one would anticipate from a European foreign exchange broker that is
controlled by some of the most prominent regulatory bodies in the EU.
Even though traders can trade over the DMA protocol of the cTrader, the broker does not provide a pure ECN account as a trading option for its clients. Because of this, the initial trading capital required for a TopFX account is not nearly as low as it is with some of the other rival brokers. The broker need to have provided a few alternatives that are tailored to the specific needs of both small and large traders. The cost of trading is also firmly placed within the average zone, which means that it does not give any additional incentives for traders to migrate from their current broker to this new one. Despite this, these concerns are negligible in comparison to the total trading security, the protection of money, and the variety of competitive trading services that are accessible to experienced traders.
TopFX is a liquidity provider that offers its services to retail brokers. Recently, the company expanded its offerings to include brokerage services that are provided directly to traders. Since 2010, customers have had access to a diverse range of assets, an improved version of the MT4 trading platform, and cTrader as a second option. The pricing environment is still one of the finest in the market, both for commission-free and commission-based accounts, and it demonstrates access to a significant amount of liquidity. - When it comes to automated trading solutions and copy-trading using the built-in functionality of the cTrader platform, TopFX continues to be an outstanding alternative.
Trust and dependability are two more advantages that come with trading with TopFX.
TopFX's subsidiary in Seychelles, which is approved by the Financial Services Authority, offers an outstanding trading environment to the company's worldwide customers (FSA). The Cyprus Securities and Exchange Commission (CySEC), which was the organization's primary regulator, began implementing new regulations just as this unit went live in the year 2020. Because to a decision made by the European Securities and Markets Authority (ESMA) in 2018 that was unproductive, traders now operate in one of the trading settings with the least amount of competition. All of the competitive brokers have established subsidiaries in other jurisdictions, such as TopFX, to ensure that non-EU traders continue to have access to the industry's most innovative products and services. Both subsidiaries keep their customers' savings in separate accounts, and while there is protection against negative balances, the CySEC units also have an investor compensation fund available. There is no cause to be concerned about deposits, earnings, or withdrawals given the financial soundness and spotless regulatory track record of the organization.
TopFX operates its European Union (EU) customer business out of the Seychelles, which is known for its very competitive trading environment.
TopFX, which acts as a liquidity provider, offers its customers a significant edge in terms of cost. The commission-free structure begins at a minimum markup of 0.5 pips, which is equal to $5.00 every 1.0 standard lot. This makes it one of the finest brokers available among all of the options. One of the most trader-friendly offers is the commission-based alternative, which provides traders with access to raw spreads beginning at 0.0 pips for a cost of $2.75 per lot or $5.50 every round lot. Traders may choose between the two options. Other charges can include swap rates for leveraged overnight positions, as well as fees that may be charged by third parties for deposits and withdrawals. After 90 days of inactivity, TopFX will begin charging a $5 monthly inactivity fee for customer portfolios. TopFX will also pass on any corporate action that occurs. When compared to other venues, TopFX's pricing environment is among the most competitive.
Traders using MT4 may quickly and simply get swap rates from their platform by adhering to the following steps:
1. Within the Market Watch window, right-click on the symbol you want, and then pick the Symbols option.
2. Select the currency you want to use, and then on the right side of the screen, select the Properties button.
3. Continue scrolling down until you find the options to swap long and short.
Although TopFX lists more than 80 currency pairs available to Forex traders, the asset list only includes 44 pairs for MT4 and 59 pairs for cTrader (the latter of which offers an extra thirteen cryptocurrency pairings). There are nine different commodities and fourteen different index CFDs listed on TopFX. Commission-free trading is available for 545 equity-related CFDs and five exchange-traded funds. Traders at TopFX who use cTrader have access to an asset selection that is highly competitive.
TopFX provides access to over 600 different assets via cTrader, in addition to those available via MT4.
The highest leverage available to traders is 1:500, and they have the option of opening either a commission-free or a commission-based trading account. The payment processor will determine the minimum amount that must be deposited. As a result, it continues to be cheap, which guarantees that all traders will have access to it. The trading circumstances are the same across both accounts and for all customers, with the exception of the price environment. TopFX has done a good job of structuring both of these alternatives, and it treats all traders fairly and doesn't try to upsell better trading conditions in exchange for larger deposits.
Both types of accounts offered by TopFX are quite aggressively priced.
MT4 and cTrader, widely regarded as the two premier retail trading platforms, are now available to traders through TopFX. Both of these companies provide automated trading solutions, placing them first and second, respectively, in this subsector. Both platforms provide copy trading using their built-in functions in a same manner. While cTrader offers the greatest out-of-the-box solution for ECN trading, TopFX improves upon the mediocre core MT4 by including a free copy of the MQL Suite of Trading Tools, which has a monthly value of $100. TopFX provides outstanding trading platform options, which demonstrates that the management is aware of and can cater to the requirements of traders.
Traders also have the option of using cTrader, which is an improved version of the MT4 trading platform.
Both the MQL Suite of Trading Tools for the MT4 trading platform, which has a value of $100 per month and is provided free of charge by TopFX, and the better NDD execution model are two distinctive aspects of the company that traders should take into consideration. Both of these things guarantee that traders will be able to manage their portfolios with a unique competitive edge, which boosts their potential profits over the long run. The MQL Suite of Trading Tools includes a total of 250 different features, including indicators, panels, expert advisers, and more. Because it offers the most comprehensive MT4 upgrade package available among all online brokers, it justifies the establishment of a trading account on its own merits. TopFX is now considered to be one of the most reputable online brokers as a result of the addition of a trader-friendly pricing environment, deep liquidity, trader-friendly pricing environment, asset selection, and NDD execution.
The MQL Suite of Trading Tools, which includes 250 individual items, is currently the most comprehensive MT4 upgrade bundle that can be purchased.
It is clear that the company formerly worked as a liquidity source for other retail brokers. The superb core trading conditions, which are among the finest in the business, will be complemented by market commentary and trade tips that will be provided. Retail traders have the possibility to follow the trades of others thanks to incorporated copy-trading capabilities in trading platforms such as MT4 and cTrader. TopFX has a clear concentration on automated trading, which makes it an appealing location for a trader base that is rapidly growing. The internet does not charge for access to educational material.
Traders have easy access to customer service through the use of live chat. E-mail, web forms, and phone numbers are three more ways to get in touch with a customer service professional. The registration address of TopFX is displayed. Even though TopFX does an excellent job of explaining its goods and services, consumers may still contact customer assistance. Because the processes are carried out so smoothly, most traders probably won't need help until it's really necessary.
Although the TopFX website does not disclose any bonuses or promotions, the legal area does exhibit two papers that outline two different offers. New customers who have their accounts verified are eligible to get a bonus of $50 that does not need a deposit from them. It is not possible to withdraw it; nevertheless, traders are allowed to withdraw earnings after trading 1.0 standard lot, and the least amount that may be withdrawn is $150. This offer is not always accessible, and it will no longer be valid after one month has passed. It is a wonderful opportunity to get a feel for TopFX's market environment without having to put up any money beforehand. A deposit bonus of up to $250 that cannot be withdrawn and is worth 50% of the deposit is also available. Before obtaining any of the two offers, traders are required to study their terms and conditions and demonstrate an understanding of them.
New traders get the chance to try the live trading environment at TopFX risk-free for a whole month thanks to the no-deposit bonus of $50, which is offered to them.
The online application form may be completed in about two minutes and involves only a little amount of personal information. Traders who are just starting out are required to enter information about themselves, including their name, e-mail address, phone number, chosen trading platform, country of residence, and preferred language. Verification of the user's account continues to be a necessary step in the quick registration process in order to maintain compliance with the AML/KYC requirements imposed by its authorities. The vast majority of customers will be able to satiate it by providing a copy of their identification and one proof of residency document.
TopFX allows customers to make payments using bank wires, credit and debit cards, as well as 23 cryptocurrencies and five online payment processors, such as PayTrust, PlusDebit, and UnionPay. TopFX quickly credits all deposits, with the exception of wire transfers from banks. Withdrawal timeframes are typically within one business day, with the exception of wired bank transfers and credit/debit card withdrawals. The minimum deposit amount is still determined by the mode of deposit or withdrawal that the player chooses. Transaction fees for financial dealings are not levied by TopFX; nevertheless, third parties may assess their own fees. In general, TopFX provides a very good and up-to-date assortment of deposit and withdrawal options, particularly when it comes to cryptocurrency.
As an execution-only broker, TopFX provides investors with one of the most favorable settings for trading overall. The commitment to automated trading solutions and copy-trading is still being carried out well and is receiving support. Clients have access to the MT4 trading platform, which has been enhanced with the MQL Suite of Trading Tools and has a total of 250 trading tools. It is the most valuable upgrade package for MT4, with a monthly value of $100, but TopFX traders don't have to pay for it since TopFX provides it for free. The cTrader trading platform is also readily available, and it provides the greatest experience "straight out of the box." Both of these systems are among the very best when it comes to automatic trading. TopFX also offers and promotes a competitive copy-trading suite that is built in, which may compete with the services offered by several third-party suppliers.
The price environment is another one of TopFX's advantages over its competitors. The raw spreads for the commission-based option start at 0.0 pips and the commission is $5.50 per round lot. In contrast, the mark-up for the commission-free alternative begins at just 0.5 pips. Both are considered to be among the greatest in the business as a whole. The execution data provided by the NDD guarantee that trades are executed in a conflict-free and efficient manner, which increases overall profitability while the asset selection maintains its level of competition. TopFX offers a more versatile and user-friendly array of deposit and withdrawal methods than the vast majority of other brokers. The fundamental trading environment is without defect. TopFX, which has been in business for more than 10 years and acts as a liquidity provider to other retail brokers, has developed into one of the most competitive multi-asset CFD brokers in the whole world. It is worthy of serious consideration as a primary broker for traders with a strong commitment.
TopFX Holdings Ltd. is licensed and regulated by the Cyprus Securities and
Exchange Commission (CySEC) under registration number 138/11.
TopFX is a global premier brokerage business that focuses on providing liquidity to clients all over the world. Since 2010, the broker has been offering liquidity solutions to other brokerage firms and other financial companies. Their expertise in providing liquidity ensures that traders can trade over 1000 assets across Forex, Shares, Indices, Metals, Energies, and other CFDs with the market's tightest spreads and razor-sharp execution. Traders can choose from a wide range of asset classes, including Forex, Shares, Indices, Metals, and CFDs.
TopFX has been active in the CFDs business for ten years, during which time they have provided exceptional liquidity solutions to over 180 different Forex brokers, investment organizations, and hedge funds. TopFX has, over the course of the past several years, expanded its portfolio to include entire packages for new businesses, therefore removing the significant barrier that previously existed to entering the highly competitive forex industry.
TopFX is a Straight Through Processing (STP) Forex Broker that also has high requirements for the trading environment it imposes due to the regulation it enforces. Because it offers the same number of investment choices, if not more, to the community of traders all over the world, the offering that is made to customers is expansive and even exhaustive.
TOpFX is a reputable and well-regulated broker that operates out of Cyprus. They provide favorable trading conditions and are transparent. The establishment of an account is a simple and quick process, and traders have access to a wide variety of trading products and platforms, such as sophisticated cTrader and copy trading.
The absence of educational tools and resources is one of the disadvantages, as is the fact that the worldwide proposal is distinct from the European one.
Numerous prizes and Awards from well-known exhibitors or publishers have been bestowed upon it in recognition of its highly successful business strategy and the delivery of a trade environment.
No, TopFX is not a fraudulent company; rather, it is authorized and regulated as a Cyprus Investment Firm (CIF) and licensed by the Cyprus Securities and Exchange Commission (CySEC) under licence number 138/11 in line with the Markets in Financial Instruments Directive (MiFID II). In layman's words, it implies that the broker is licensed and permitted to offer its trading service, along with the application of any relevant safety measures and controls.
The broker services another entity in the offshore zone, in the Seychelles, which is governed by the Financial Services Authority. In addition, the broker possesses the primary license (FSA). Even while we do not encourage trading only with offshore brokers, additional rules coming from Europe give crucial requirements that must be followed in order to ensure safety.
How can you keep yourself safe? All client monies are stored safely and are kept entirely distinct from TopFX's own funds at all times. TopFX abides by stringent regulations and has done all in its power to secure its customers' cash by taking any and all essential precautions. In addition, both internal and external auditors are responsible for doing comprehensive audits on the company's activities on a consistent basis.
The various conditions imposed by CySEC, which have also met with the MiFID regulation, include capital sufficiency, financial reporting to the authorities, and the completion of a full audit. These requirements ensure that control over TopFX activity is continual and unrivaled.
In addition to this, TopFX is a participant in the Investor Compensation Fund (ICF), which works to address problems and provide compensation to investors in the case of extremely unusual occurrences. Click on the link to learn more about CySEC.
Despite the fact that the extra entity is based in the offshore zone, offshore zones have recently been developing more stringent licensing criteria. As a result, in addition to complying with ESMA laws, TopFX is regarded as a trustworthy broker with which to invest and trade.
Because of its potential to amplify your beginning balance and, as a result, the quantity of money you are able to trade, leverage is the instrument that enables you to do business with a substantial amount of capital. However, the likelihood of either profit or loss grows in parallel, which is why it is essential to acquire the knowledge necessary to employ leverage in a strategic manner.
You may increase your exposure to a certain market while using a lower amount of cash if you make use of leverage. You have access to leverage of up to 1:30 with TopFX, which means that for every $1 that you have in your account, you have the potential to trade up to $30 in value.
The degree of risk that you take on is also characterized by the level of leverage that you employ, given that using a larger level of leverage greatly increases the likelihood that you would suffer a financial loss.
Because of this, authorities and regulators all over the globe limit the amount of leverage that may be used to set safer limits for regular traders. As a result, the TopFX Cyprus company, in conjunction with its activities that have been formed in accordance with ESMA guidelines, provides leverage levels that are below those specified by the regulator. This indicates that European traders or customers registered with TopFX are eligible for this promotion. The European Securities and Markets Authority (ESMA) law that regulated leverage only lately will apply to European companies.
Because TopFX has two different account kinds, and because you may select ultra-low spreads and sharp execution on any account type, selecting an account type comes down to a matter of your own personal taste.
RAW account holders have the opportunity to trade with spreads beginning at 0.0 pips and fees priced at €2.75 a lot, per side. Traders who like receiving a raw price feed and paying commissions on a separate transaction can consider signing up for the TopFX RAW account. However, despite the fact that TopFX RAW accounts have the same level of cost-efficiency as its ZERO accounts, it is possible that it is a factor that contributes to enhanced order execution transparency for certain traders.
As a Liquidity Provider, they offer pricing that is exceptional and nearly impossible to get anywhere else. TopFX, in contrast to the typical practice of the business, which is to make the regular accounts with no commissions more costly than the raw spread accounts, offers exactly the same rate for both types of accounts.
You may trade with some of the lowest all-inclusive spreads available on the market when you pick the TopFX ZERO account as your trading platform. A very effective trading atmosphere may also be ensured by the lightning-fast execution and extensive liquidity provided by the broker.
The fees associated with trading are determined by the type of account you choose, and they may be slightly different depending on the trading platform you use. Because of this, it is imperative that you double-check the terms and conditions associated with trading before engaging in any transactions.
Forex traders can opt to trade 89 currency pairs with spreads starting at 0 pip when using the RAW account, or they can choose to trade with spreads starting at 0.5 pip when using the ZERO account.
Indices: Choose to be bullish or bearish on 14 global indices with spreads beginning at 0.4 pip and fees starting at €2.75 per lot, or go with an all-inclusive spread account instead.
Trade CFDs on commodities such as gold or Brent oil with spreads beginning at only 3 pip increments. You have the option of opening either a RAW or ZERO account, just like with foreign exchange and indices.
TopFX provides international traders with access to the world's premier liquidity providers and global exchanges through sources proprietary aggregator engine with the best possible pricing from tier-1 grade banks. These markets include the most traded instruments, making TopFX a Forex, Shares, Energies, ETFs, Indices, and Metals and Commodity Broker. TopFX delivers more than 1000 Markets to trade.
TopFX provides customers with a variety of deposit options, protection against negative balances, and deposits made with no additional costs. All cash received from customers are kept in separate accounts at respected financial institutions.
TopFX does not charge any fees for deposits or withdrawals; nevertheless, you may be subject to costs levied by your financial institution or payment provider.
Your cash are safeguarded in accounts that are maintained entirely separate from TopFX's operating accounts at respected financial institutions. As a result, your cash will never be used by TopFX for any kind of operational or other reason.
The following kinds of currency and payment methods are accepted by the broker:
Wire transfer from the bank. TopFX's minimum deposit can be made using credit or debit cards (Visa or MasterCard), online payment processors like PayPal, Neteller, or Skrill, or a combination of these.
Because TopFX does not impose a minimum deposit requirement, you are free to choose one of the two account types provided by the broker and fund it with any sum you choose.
Comparing the minimum deposit requirements of TopFX and other brokers.
To withdraw funds using one of the various ways, such as electronic wallets or bank transfers, you will need to access the TopFX Client Area and fill out a withdrawal request form. Withdrawal requests are typically handled within one business day of the day they are received.
MetaTrader4, a market leader, and cTrader, a strong trading platform, are the two options available to traders when selecting a trading platform.
The most widely used trading platform in the world is MT4. Traders pick it because of how easy it is to use, how easily the interface can be customized, and how broad the collection of automated trading tools is.
Traders have the opportunity to trade Forex, Indices, Energies, and Metals using this platform, which is made available by TopFX. Trade with one click, interactive charting, nine different time frames, more than thirty pre-installed technical analysis indicators, easy personalization to your chosen trading settings, automatic trading with expert advisors, and more are all included. Trades may be replicated using PAMM accounts, and trading signals can be obtained through Trading Central. MQL4 programming language support for the construction of one's own robots and individualized indications. Available in different languages.
TopFX cTrader is recommended due to its dependability, sophisticated technical analysis tools, and the capacity to mix many trading strategies inside a single user interface. In order to be successful as a manual trader, you want a dependable trading platform that combines an intuitive user interface with sophisticated tools for market analysis and risk management. cTrader has the following features: unlimited watchlists that can be detached and moved around your workspace; detailed symbol information and Live Sentiment data; a wide selection of chart types including Candlesticks, Bar, HLC, Line, Heikin, Dots, and Renko; and more. cTrader is available for both Windows and Mac computers. 54 timeframes, ranging from one minute to one month, helpful information on your order's volume such as pip value, commission cost, and required margin, 70+ technical analysis indicators,lines and oscillators, advanced Take Profit and Stop Loss, chart trading with drag-and-drop, and one-click trading are some of the features offered by this platform.
Mobile trading is slowly gaining root, with the majority of traders utilizing more than one device type to place and monitor their transactions. This indicates that mobile trading is becoming increasingly popular. The MT4 mobile app allows you to trade from virtually any location, and it is available for both Android and iOS. It provides a full history of transactions, as well as three different types of charts, nine different timeframes, 24 different analytical items, and more. You have complete control over your trading account even while you're away from your workstation since you may make the identical order types that are available on the desktop version.
While you are on the go, the TopFX cTrader mobile app provides you with everything you want to continue enjoying the same outstanding user experience you are accustomed to on the desktop and online platforms. It is accessible on both Android and iOS devices, and it has responsive graphing, thorough information on the assets that are offered, a full history of trades that have been completed, and a great deal more.
You may get in touch with the customer service staff of the broker by calling them, sending them an email, chatting with them on their website, or filling out the 'contact us' form on the broker's website.
Our TopFX Review comes to a close with a discussion of educational resources. Here, we discovered that the broker offers educational articles covering a wide range of subjects, in addition to Forex News, Market Holidays, and the most recent market updates.
There is presently no comprehensive education available on a worldwide basis; however, there are some locations that offer highly thorough education programs. One such place is Italy, where TopFX hosts at least two to three webinars each week. Other countries also offer such programs. You are able to view the list of webinars on this page. Additionally, the broker has introduced informative webinars to the Thai market.
In general, TopFX is a reliable trading strategy broker that provides a flexible range of options regarding the conditions, platforms, and instruments that it offers. In addition, TopFX is a fully licensed broker, which is a significant component in ensuring the protection of your funds. The one potential drawback is that there aren't too many educational sources and resources available, which means that people who are just starting out will need to look elsewhere for webinars and classes.
In addition to providing access to a moderate number of CFD markets and forex pairs, TopFX provides its customers with the MetaTrader and cTrader platform suites. On the other hand, TopFX has a hard time competing with the industry's finest brokers in a number of different areas, including market research and education.
TopFX gives customers the opportunity to trade 548 different CFDs on a wide range of major asset classes, including as stocks, ETFs, commodities, metals, and currency.
Cryptocurrency: Crypto Contracts for Difference are not offered to retail traders from any broker's company in the United Kingdom (UK), nor are they available to residents of the UK.
TopFX provides a choice between two distinct account types, either of which may be accessed using the MetaTrader or cTrader platforms. There is the RAW account, which is based on commission, and the ZERO account, which solely trades on spreads. A commission fee of 2.75 Euros will be assessed per side for the RAW account (5.50 per round turn standard lot). Your minimum deposit requirement will be determined by the form of payment you select. Bear in mind that there is not currently any way to determine the exact cost of trading with TopFX because there are no public average spreads.
An overview of the apps: cTrader and MetaTrader 4 are the two mobile trading apps that are available from TopFX (MT4). Both the Apple App Store and the Google Play store have versions of the programs optimized for use on mobile devices running the iOS and Android operating systems, respectively.
Trading platforms cTrader and MetaTrader 4 (MT4) are both available to customers of TopFX. There are no noteworthy add-ons that make TopFX stand out from among the finest MetaTrader and cTrader brokers. However, Autochartist is incorporated directly into cTrader, and MT4 is the standard out-of-the-box developer version.
A general overview of the platforms: TopFX offers the MetaTrader 4 suite for computers running the macOS and Windows operating systems, in addition to a web version that can be accessed through any contemporary web browser.
Charting: The MetaTrader platform suite is well-known for its high-quality charts that are also user-friendly. On MT4, performing tasks such as zooming in and out and rearranging windows and tabs is a breeze. Additionally, it enables the capability to drag and drop roughly fifty different indicators directly from the default list. With 65 different indicators, four different chart formats, and dozens of drawing tools, cTrader charts are just as spectacular as the rest of the platform.
Traders looking for investment possibilities will find it easier to do so with the assistance of TopFX's Autochartist, which is immediately linked into cTrader.
TopFX does not do enough market research, which puts it at a disadvantage when compared to the majority of the brokers that I've looked at. Since I was unable to locate any articles, analyses, videos, or market commentary on the TopFX website, I would not recommend using it as a resource for market research, particularly when compared to the most reputable brokers in this field.
There is not much in the way of educational stuff on TopFX. There is a quarterly review of company earnings available on TopFX's Facebook page, in addition to some fundamental platform instructions and a few instructive films (although very brief ones).
There is room for improvement: TopFX's learning center would benefit greatly from the inclusion of written articles as well as an extension of the variety of instructive films that are now available. To help you learn about trading and investing, the best brokers in this area include educational resources such as videos and articles, and some of them even give quizzes and the ability to monitor your progress. In this particular category, there is a great deal of room for TopFX to make improvements.
By providing access to both MT4 and cTrader, TopFX has laid a solid groundwork for the platforms it makes available to its customers. It provides access to a respectable assortment of instruments, with 548 symbols and 45 currency pairs to choose from.
On the other hand, TopFX does not provide MT5 or the wider variety of markets that are normally provided by the industry's leading brokers. In addition to this, there is hardly any market research available on the TopFX site, and there is no instructional material that is of any real use. Last but not least, providing its average spread statistics each month would bring attention to the underlying value of its price across both of its primary account categories.
Sites like TopFX in the UAE
Here is a list of quality Forex, CFD, Stock and Crypto Brokers for new and professional traders living in the UAE:
- Olymp Trade - People simply love this one (Olymp Trade Review)
- Binance - World's largest cryptocurrency e-wallet and exchange that also has an online trading platform, where their members can invest or trade in virtually hundreds of cryptocurrencies and new tokens. (Binance Review)
- IG Markets UAE - UK broker located at Tower 2, Level 27, Al Fattan Currency House, DIFC. (IG Markets UAE Review)
- City Index Middle East - London-city broker with a branch in the UAE. (City Index Middle East Review)
- eToro - Social trading platform, but much better options are available out there. (eToro Review)
- Swissquote - It's a Swiss bank that offers an online trading platform for forex and CFD trading. (Swissquote Review)
- easyMarkets - Israeli brand that is big all over. (easyMarkets Review)
- Forex.com - Google ranks them in the top 10 for the term "forex". (Forex.com Review)
- Plus500 - UK brand that has its own platform, OK for CFDs, with mediocre reviews. (Plus500 Review)
- AvaTrade - Regulated by ADGM's Financial Services Regulatory Authority (FSRA) in Abu Dhabi. (AvaTrade Review)
- FXCM.com - Oldest brand when it comes to retail online forex trading. (FXCM.com Review)
- Mashreq Neo - An online trading platform provided by Mashreq Bank. (Mashreq Neo Review)
- ForexTime (FXTM) - Owned by Andrey Dashin from the Alpari broker fame. (ForexTime FXTM Review)
- Noor Capital - Licensed and Regulated by the UAE Central Bank and SCA. (Noor Capital Review)
- XM.com - XM broker is big in Africa and South East Asia, and now promoting themselves hard in the UAE. (XM.com Review)
- Saxo Bank - Danish Investment Bank with a long history of catering for premium forex investors. It also provides crypto trading facility. (Saxo Bank Review)
- Pepperstone - Originally Australian, but licensed locally by Dubai Financial Services Authority. (Pepperstone Review)
- CMC Markets - UK-based broker that is popular among CFD traders. (CMC Markets Review)
- ETX Capital - UK broker that has a decent reputation among Arab investors. (ETX Capital Review)
- Interactive Brokers - American online-trading broker that is expanding into Asian and Arab markets nowadays. (Interactive Brokers Review)
- Rakuten Securities - Japanese broker that usually looks out for large institutional investors. (Rakuten Securities Review)
- Dukascopy Bank SA - Swiss bank that offers online forex trading on its own proprietary platform. (Dukascopy Bank SA Review)
- IQ Option - It's a below-average broker with no Dubai office, but does have a toll-free virtual number for UAE: 800 032 0891 -> No Arabic, English only. (IQ Option Review)
Reviewed by Arpita Singh
Arpita Singh is the main writer at ForexBroker.ae. As a senior investment professional with 10+ years of experience working at top-tier Private Equity and Sovereign Wealth Fund; she is also responsible for fact-checking concepts, reviews, and related details about brokers and exchanges listed on this website. Full Bio.