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TopFX Global Review 2024

Written By

William Berg

Written By

William Berg

William contributes to several investment websites, leveraging his experience as a consultant for IPOs in the Nordic market and background providing localization for forex trading software. William has worked as a writer and fact-checker for a long row of financial publications.

» William Berg Profile Page

Fact Checked By

Tobias Robinson

Fact Checked By

Tobias Robinson

Tobias is a partner at DayTrading.com, director of a UK limited company and active trader. He has over 25 years of experience in the financial industry and contributed via CySec to the regulatory response to digital options and CFD trading in Europe. Toby’s expertise and dedication to financial education make him a trusted voice in the industry, including a BBC investigation into digital options.

» Tobias Robinson Profile Page

Updated

Jun 19, 2024

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Overall Rating

3.8 / 5

TopFX Global is #86 in our CFD broker rankings.

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Customer Reviews

Minimum Deposit $50

Trading Platforms MT4, cTrader

Instruments Forex, Indices, Shares, Metals, Energies, ETFs, CFDs, Cryptocurrency

Regulators CySEC, FCA, FSA

Account Currencies USD, EUR

Payment Options Visa, Mastercard, Debit Card, Credit Card, Wire Transfer, Swift, Apple Pay, Google Wallet, Skrill, Neteller, Bitcoin Payments, Ethereum Payments, Perfect Money, Dragonpay, M-Pesa, FasaPay, PIX Payment, Sticpay, Bitwallet

Awards

• Top Trading Conditions 2023 - Smart Vision Investment Expo
• Best Retail Forex Broker 2023 - Fintech & Crypto Summit Bahrain
• Best Copy Trading Platform 2022 - WikiEXPO

Pros

• Fast execution with average speeds below 30ms
• Over 600 tradable instruments
• Offers powerful MT4 and revolutionary cTrader platform

Cons

• Not available to traders in the US, Canada, EU countries, Iran, North Korea, and Myanmar. Additional restrictions may apply to individuals being a national or national of other countries as well.

TopFX Global is a regulated online broker providing access to more than 600 CFDs. Clients can use the MetaTrader 4 and cTrader terminals, plus an intuitive copy trading solution. In this TopFX Global review, we explore all aspects of the Cyprus-based broker, from the registration process and welcome bonus to leverage rates and live account options.

TopFX Global Headlines

TopFX Global Ltd was founded in 2010 to provide liquidity and white label solutions to forex brokerages, investment firms and hedge funds. The company has since entered the retail trading market, offering leveraged forex, CFD and ETF investing.

TopFX Global follows an STP trading model and has an active customer base across Europe, Asia and Africa, including Indonesia, Thailand, Malaysia, Vietnam and Nigeria. The brand has picked up several awards and customer reviews highlight the fast withdrawals and competitive trading costs.

The online broker is licensed with the CySEC (Cyprus Securities and Exchange Commission), the UK FCA (Financial Conduct Authority), and the Seychelles FSA (Financial Services Authority). These are reliable agencies and provide a degree of trust for traders.

Platforms

Clients are given access to the MetaTrader 4 (MT4) and cTrader platforms. MT4 and cTrader are available as desktop clients, web-based platforms, and mobile apps for smart devices.

Both platforms have been well-reviewed by the forex community, suiting the needs of different traders. MT4 has been praised for its simplicity, flexibility, and support for algorithmic trading, while cTrader is equipped with more sophisticated tools and copy-trading capabilities.

cTrader

cTrader has become an increasingly popular rival to the MetaTrader platforms. Its interface is clean and modern, with customisable charts and watchlists. The platform features over 70 technical analysis indicators plus 54 different timeframes.

cTrader offers 3 types of market depth and level 2 pricing. Users can implement algorithmic trading through cBots, which perform the same function as MT4’s Expert Advisors. cTrader is also one of the fastest retail trading platforms, with a 3ms internal processing time.

Features of cTrader include:

• Detailed symbol information and live sentiment data
• Advanced Take Profit and Stop Loss orders
• Range of charting modes
• One-click trading
• Easy navigation

TopFX Global has also branched out into copy trading via the cTrader terminal. This allows investors to rank strategies and mirror the positions of successful traders. Users can also modify the funds allocated to a specific strategy and access detailed reporting on all opened and closed positions. The broker’s full suite of trading assets is available.

MT4

MT4 is the market leader for forex trading platforms with the highest number of users worldwide. The terminal suits traders of all experience levels thanks to its user-friendly features and range of technical tools. It is worth pointing out, however, that MT4 offers fewer timeframes than cTrader.

TopFX Global customers can use over 30 pre-installed indicators on MT4, as well as trading bots, known as Expert Advisors (EAs). Additional indicators and EAs can be purchased on the MetaTrader marketplace. Users can also build bots and indicators using the MQL4 programming language.

Features of MT4 include:

• Detailed historical data
• Multiple languages
• Easy customisation
• Interactive charts
• One-click trading

Products

TopFX Global offers access to over 600 markets with a particularly impressive range of currency pairs, spanning majors, crosses and exotics.

Available markets include:

• 60 currency pairs
• 16 stock indices
• 500+ shares
• 3 energies
• 3 metals
• 25 ETFs

Clients that sign up for an FSA-regulated account can also speculate on cryptocurrencies, including Bitcoin, Ethereum, Litecoin, Ripple, Dash and Bitcoin Cash.

Leverage

The leverage available to TopFX Global customers depends on where they register an account. Regulators have different leverage restrictions.

Always remember to use appropriate risk management tools when trading on margin.

FSA Leverage

• Forex major currency pairs – up to 1:500
• Energies CFDs – up to 1:100
• Metal CFDs – up to 1:200
• Index CFDs – up to 1:200
• Share CFDs – up to 1:20
• ETFs – up to 1:20
• Cryptos – up to 1:10

Note leverage in each category may differ between symbols. Check the platform for individual specifications.

Mobile Apps

The mobile versions of MT4 and cTrader can be downloaded to iOS and Android devices. The applications allow clients to monitor their accounts and execute trades from any location.

The cTrader app is particularly advanced, with 26 timeframes and 5 chart types, plus the ability to organise instruments into categories via the Watchlists feature. The platform also combines trading signals, market information, and news updates under the Blotter tab. Alternatively, the MT4 app offers fewer chart types (3) and timeframes (9) but has over 30 technical indicators. Both mobile applications are easy to use with slick interfaces.

Fees

As a liquidity provider, TopFX Global offers competitive trading fees. The spreads available depend on whether clients choose a RAW account or a ZERO account. RAW account users can access spreads starting from zero pips, which is offset by a 2.75 EUR commission per side per lot. ZERO account clients get spreads starting from 1 pip.

Spreads on currency pairs are generally lower than the industry average of around 1.5 pips. Popular pairs like EUR/USD, GBP/USD, and USD/CAD offer spreads from 0.0 pips, 0.1 pips, and 0.1 pips respectively, with the RAW account.

TopFX Global does not charge commission on share CFDs or ETFs. Spreads on indices range from 0.9 pips to 10 pips.

Live Accounts

TopFX Global offers two types of accounts: RAW and ZERO. The RAW account charges a flat 2.75 EUR fee on trades but has lower spreads. ZERO users, on the other hand, pay no commission but incur higher spreads.

According to TopFX Global, both accounts are equally priced in the long-term, with the RAW account best suited to those that prefer a clearer pricing model.

Islamic (swap-free) accounts are available across both the RAW and ZERO formats.

RAW ccount

• Commission: 2.75 EUR per side per lot
• Min/Max Trade Sizes: 0.01/100 lots
• Spreads from: 0.0 pips
• Leverage: up to 1:1000
• Stop/Out: MT4: 35% and cTrader: 30%

ZERO Account

• Min/Max Trade Sizes: 0.01/100 lots
• Spreads from: 1 pip
• Leverage: up to 1:1000
• No commission
• Stop/Out: MT4: 35% and cTrader: 30%

Payments

Deposits

Payments to TopFX Global can be made by various methods, including PayPal, card (Visa or Mastercard), e-Wallet (Neteller or Skrill), or bank wire transfer. Except for wire transfer, which takes 3-5 working days, transfers are processed instantly. Deposits are fee-free.

Accounts require a 50 USD minimum deposit.

Withdrawals

The broker processes all withdrawals within one working day. Funds may take slightly longer to reach clients’ accounts depending on the transfer method (up to 5 days for wire transfer). TopFX Global does not take a commission on withdrawals.

Security

As a multi-regulated broker, TopFX Global follows security measures designed to protect trader capital. User funds are kept segregated from the brokers’ pool of money in top-tier European banks. TopFX Global also provides negative balance protection so traders can’t lose more than their initial deposit.

Note, clients who trade with TopFX Global’s Seychelles office do not receive insurance, but are granted negative balance protection and benefit from segregated trading accounts.

Customer Support

The customer service team can be contacted 24 hours a day, 5 days a week. Contact options include:

• Online form: Available under the ‘Contact us’ tab
• Live chat: Available under the ‘Contact us’ tab
• Telephone: +357 25352244
• Email: support@topfx.com

Additional Tools

TopFX Global’s educational offering varies depending on the territory. In Italy and Thailand, for example, the brand runs twice-weekly webinars. However in English, TopFX Global’s education resources are limited. This is disappointing, as many brokers offer extensive additional tools for new traders. Economic calendars and pip or profit calculators are also not available.

With that said, clients can still make use of the copy trading solution which is an excellent tool for those new to the financial markets.

TopFX Global Verdict

TopFX Global is a reliable forex and CFD broker offering competitive fees. The firm is regulated by multiple trusted bodies and offers negative balance protection. In addition, both the MT4 and cTrader platforms are available alongside the broker’s popular copy trading solution. Overall, we’re comfortable recommending TopFX Global to our readers.

FAQs

Does TopFX Global Offer A Welcome Deposit Bonus?

TopFX Global provides an up to 100% exclusive deposit bonus to any client who satisfies the eligibility conditions Terms & Conditions.

Does TopFX Global Have A Minimum Deposit?

Yes, it’s 50 USD (or equivalent).

What Markets Can I Trade With TopFX Global?

Clients can take positions across 600 CFDs, including currency pairs, stocks, ETFs, indices, precious metals, energies and cryptocurrencies.

Does TopFX Global Have A Demo Account?

Yes, TopFX Global has a demo account.

Top 3 Alternatives to TopFX Global

Compare TopFX Global with the top 3 similar brokers that accept traders from your location.

1. IG – Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand-US offers spread betting, CFD and forex trading across an almost unrivalled selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders.
   Go to IG
2. Interactive Brokers – Interactive Brokers (IBKR) is a premier brokerage, providing access to 150 markets in 33 countries, along with a suite of comprehensive investment services. With over 40 years of experience, this Nasdaq-listed firm adheres to stringent regulations by the SEC, FCA, CIRO, and SFC, amongst others, and is one of the most trusted brokers for trading around the globe.
   Go to Interactive Brokers
3. World Forex – World Forex is an offshore broker registered in St Vincent and the Grenadines, offering commission-free trading with a $1 minimum deposit and 1:1000 leverage. Digital contracts are also available, offering beginners a straightforward way to speculate on popular financial markets.
   Go to World Forex

TopFX Global Comparison Table

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