For traders who require more sophisticated multi-account management, these missing features might be a drawback. In addition, TopFX implements segregated client funds, meaning that your funds are kept separate from the broker’s operational funds, offering an extra layer of security. TopFX has designed its account opening process with simplicity in mind, requiring only the necessary information to get started. Traders can choose from various account types – Raw, Zero, and VIP – each designed to meet specific trading needs.
In terms of transparency and growth, TopFX has shown consistency in the 14 years of its operation. The broker provides a safe environment, overseen by one of the tightest regulators CySEC, and takes safety measures when it comes to the security of the client’s funds. In addition, TopFX has enhanced its services and offerings through the years, meeting the market standards and expectations. Maintaining good execution standards and providing multiple tools and services for probing market research, TopFX is a good choice for copy and social traders, as well as for day traders. I appreciated the broker’s tight stop-out levels, which varied between 30 and 35 percent. This combination protects less experienced traders against expected and unexpected changes in market volatility.
Over 2.5 years with TopFX – Excellent service and reliability
TopFX is a well-regulated and versatile Forex broker with a strong background and extensive service offerings. In addition, it provides a very safe and secure trading environment. Greater transparency on IB commissions and fund security is needed, and the educational resources could be more comprehensive. While TopFX has a solid foundation, focusing on these areas could significantly enhance its offerings and elevate its position in the industry.
We encourage constructive feedback
Overall, TopFX does a commendable job of keeping your funds safe, but you should always double-check where your money is being held. The 10 Best Oil Trading Brokers – Opportunity or Obstacle, Revealed! We have listed the Best Forex Brokers for Commodities trading, including Crude Oil. Minimum deposit amounts are fairly reasonable, starting at 50 EUR/USD for most methods.
cTrader
This account offers raw spreads from 0.0 pips and a commission of $2.75 per lot per side. This account is a good option if you value the tightest possible spreads. The raw spreads give a more transparent view of market conditions, which benefits high-volume traders. The platform features ultra-fast trade execution, minimizing slippage for precise trading. Customization options are available with additional tools and plugins, including advanced charting and indicators.
Fees, Spreads, and, Commissions
- TopFX provides MetaTrader 4 (MT4) and cTrader platforms, catering to different trading needs and preferences.
- TopFX is a reputable Forex broker regulated by the FSA, providing various account types, extremely tight spreads, and access to CFDs including commodities, indices, shares, and cryptocurrencies.
- However, the Raw account has a comparatively high minimum deposit requirement of $5,000.
For major currency pairs like EUR/USD, spreads can start at just 0.0 pips on the Raw account with a commission of $2.75 per side per lot ($5.50 per round turn). Even average spreads, which indicate typical trading costs, are exceptionally low. However, for instruments like exotic Forex pairs and cryptocurrencies, the wider spreads reflect their lower liquidity and higher risk.
To register, you must fill out a form with your details and provide some standard documents for identity verification. However, the efficacy of these solutions is heavily reliant on the specific requirements of the broker or hedge fund. Institutions should carefully evaluate how TopFX’s offerings align with their trading strategies and client demands before making any commitments. Liquidity is the cornerstone of any financial trading operation, and TopFX positions itself as a central provider of liquidity solutions for brokers and hedge funds. The platform works across different brokers, meaning more people can see and copy your strategies. You can also charge performance, volume, and management fees and set a minimum investment amount, giving you control over how you’re compensated.
In my experience, the crucial aspect of a chart is how easily you can scale the price action up and down for detailed analysis. As shown above, traders can easily apply essential tools like DoM and access content from Autochartist and Trading Central on the cTrader platform. The only minor issue is that TopFX does not provide live spread data on its website. This information is important as it allows prospective clients topfx reviews to assess the broker’s fees before opening a live account. The cTrader platform features low timeframes (below 1 minute) and several chart types, which offers scalpers an intricate overview of price action behavior in the short term.
Casual Trading: Perfect Match
This review aims to provide a balanced view of TopFX’s strengths and areas for caution, helping you determine if it suits your trading needs. TopFX supports several account funding methods, including bank wires, Neteller, PayPal, credit cards, and Skrill. However, while the webinars are undoubtedly high-quality, we found the range of topics somewhat limited compared to other brokers. TopFX’s educational materials are notably led by industry veterans, lending great credibility to their content. For CFD positions on indices, dividend adjustments are made to reflect dividend payments.
TopFX processes withdrawals within one business day, but it can take longer for traders to receive their funds. It depends on the geographic location of traders and the payment processors. TopFX has many payment processors with instant to near-instant payment processing. The most ignored trading costs are swap rates on leveraged overnight positions. Depending on the trading strategy, it may become the most significant fee per trade.
- They offer access to 60+ Forex pairs and CFDs, including commodities, indices, shares, and cryptocurrencies.
- Even a small trade can prevent your account from being considered inactive.
- We value all reviews as they are essential in helping us enhance our services.
TopFX’s journey from solely providing liquidity to offering full-service brokerage highlights its adaptability in a competitive market. They started with liquidity provision in 2010 and by 2015, they were providing retail traders with the same market access usually reserved for large institutions. There is a very high degree of risk involved in trading securities. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses.
really good broker
TopFX certainly seems to understand the importance of transparency, particularly when it comes to how they lay out their fees and handle client funds. TopFX is regulated by the Seychelles Financial Services Authority (FSA), ensuring client fund protection through segregated accounts. TopFX provides access to over 60 Forex pairs and a range of CFDs, including commodities, indices, shares, and cryptocurrencies.
However, the letter brokers have additional top-tier licenses like FCA and ASIC, which add further protection. As for the fee structure, we found that TopFX offers some of the lowest spreads and commissions. At BrokerNotes.co, our data-driven online broker reviews are based on our extensive testing of brokers, platforms, products, technologies, and third-party trading tools. Our product testing extends to the quality and availability of educational content, market research resources, and the accessibility and capabilities of mobile platforms and trading apps. We also dive into each broker’s trading costs, such as VIP rebates, inactivity fees, custody fees, bid/ask spreads, and other fee-based data points.