TopFX Review

Read our in-depth forex broker review on TopFX ✅ Find out how this brokers broker compares to others.
Overall Rating


Top 5 Forex Brokers

 TopFX Review

📅 Year founded


📈 Multiple top-tier regulation


📍 Headquarters

Limassol, Cyprus

🌍 Country of regulation

Cyprus / Multiple countries in Europe

✅ Regulators

CySec / MiFID / ESMA

📈 Execution Type

Market Execution

💰 Minimum Deposit

EUR 50

🛡️ Negative Balance Protection


📉 Trading Platforms

MetaTrader4 / cTrader

 ☪  Islamic account


📉 Trading Instruments

Forex / Indices / Shares / Metals / Energies / ETFs

📱 Mobile trading

iOS / Android / Windows

💳 Payment Types Accepted

Debit and Credit Cards / Bank Wire Transfers / PayPal / Neteller / Skrill / Multibanco / Przelewy24 / iDeal / Sofort

🎮 Demo Account


 ⓒ Copy Trading


🎁 Bonus Offer


💰 Account Currencies


📈 Minimum Trade

0.01 Lots

📈 Account Types


📈 Margin Trading


📈 Trading fees


📈 Inactivity fee

After 3 consecutive months (EUR 5.00)

💰 Withdrawal fee


☎ Customer Support


💰 Max. Leverage


✔️ Hedging Allowed


✔️ Scalping Allowed


💰 Commission

EUR 2.75 on Raw / None on Zero

💰 Spreads

From 0.0 pips

💰 Leverage


💰 Currency Pairs (Total Forex pairs)

60 +

🔢 Number of clients


🥇 Instruments Offered

600 +

📙 Education


Click here ✅ Open a Trading Account




TopFX is a renowned Forex and CFD broker that offers a wide range of trading services to global clients. It provides access to various financial markets, including forex, indices, shares, metals, energies and ETFs.

TopFX is known for its robust trading infrastructure, competitive spreads and high-quality customer service.




In the dynamic and competitive world of online trading, selecting the right broker is crucial for both novice and experienced traders alike.

TopFX has distinguished itself as a premier choice in this arena, offering a comprehensive suite of trading services across a broad spectrum of financial markets.

Founded in 2010, TopFX has established a strong presence in the forex and CFD brokerage industry, underpinned by a commitment to providing high-quality trading conditions, cutting-edge technology and superior customer service.

With its headquarters based in Limassol, Cyprus, TopFX operates at the heart of the European financial market, a strategic location that facilitates access to a wide range of markets and financial services.

This geographical positioning is advantageous not only for the broker’s operational capabilities but also for ensuring regulatory compliance and oversight.

Cyprus is well-regarded for its robust financial regulatory framework, governed by the Cyprus Securities and Exchange Commission (CySEC), which provides traders with a layer of security and trust in their brokerage choice.

TopFX’s journey since 2010 has been marked by a continuous effort to adapt and innovate in response to the evolving needs of traders worldwide.

The broker’s dedication to offering competitive spreads, access to a vast array of trading instruments and a choice of advanced trading platforms has attracted a diverse client base, ranging from beginners taking their first steps in the financial markets to seasoned traders seeking a reliable and efficient trading environment.





  • Wide range of trading instruments.
  • Competitive spreads and low fees.
  • User-friendly trading platforms.
  • Multiple account types to suit different trading strategies.
  • Efficient customer support.



  • Limited educational resources for beginners.
  • No services to clients from certain jurisdictions due to regulatory restrictions.




TopFX offers a comprehensive suite of trading instruments, catering to the diverse preferences and strategies of traders.

This extensive range ensures that clients have ample opportunities to diversify their portfolios and engage with various markets.

Below is an exploration of the trading instruments available through TopFX, including forex, indices, shares, metals, energies, and ETFs.



As the cornerstone of the TopFX offering, the forex market allows traders to speculate on the price movements of currency pairs.

TopFX provides access to a wide range of major, minor and exotic pairs, ensuring traders can capitalise on fluctuations in global currencies. The forex market is known for its high liquidity and 24/5 availability, making it a popular choice for traders looking for flexible trading opportunities.

With TopFX, traders have access to over 60 currency pairs to choose from.



Trading indices through TopFX offers clients the chance to speculate on the performance of segments of the stock market without having to trade individual company shares.

Indices are excellent indicators of the overall health of particular sectors or economies. TopFX provides access to a variety of global indices, enabling traders to gain exposure to different economic regions and sectors while accessing leverage of up to 20:1.



For traders interested in the equity markets, TopFX offers the ability to trade shares from leading companies around the world.

This allows clients to speculate on the price movements of individual companies’ stocks, offering potential profits from both rising and falling markets. Trading shares with TopFX can be an excellent way to diversify a trading strategy beyond forex and indices.



The trading of metals is another key component of the TopFX instrument offering. This includes precious metals like gold, silver, platinum and palladium, which are often sought after as safe havens during times of economic uncertainty or as a hedge against inflation.

Metals trading can provide a stable addition to any trading portfolio, offering a different set of market dynamics compared to more volatile instruments.



TopFX also provides traders with the opportunity to engage with the energy market including brent crude oil, US rude oil and natural gas.

These markets are influenced by a wide array of factors, including geopolitical events, supply and demand dynamics and changes in global economies.

Trading energies can be a dynamic way for traders to speculate on these factors and potentially profit from market movements.



Exchange-Traded Funds (ETFs) are available for trading through TopFX, offering traders a way to invest in a collection of assets or an index through a single trading instrument.

ETFs can include a mix of assets such as stocks, commodities, and bonds and are traded similarly to individual stocks.

They provide an efficient way to diversify a portfolio and gain exposure to a wide range of sectors or markets with a single transaction.

TopFX’s diverse range of trading instruments ensures that clients have access to a wide variety of markets and asset classes. This breadth of offering allows traders to diversify their investment strategies, manage risk and explore opportunities across global financial markets.

Whether interested in the fast-paced world of forex, the strategic trading of indices and shares, the stability of metals, the dynamic nature of energies or the diversified approach of ETFs, TopFX provides the tools and platforms necessary to engage with these markets effectively.




TopFX stands out in the competitive landscape of online trading by offering its clients access to two of the industry’s most acclaimed trading platforms: MetaTrader4 (MT4) and cTrader.

This strategic choice caters to a broad spectrum of trading preferences, ensuring that both novice traders and seasoned professionals find the tools and functionalities they need to execute their trading strategies effectively.


MetaTrader 4 (MT4)

Widely recognised for its user-friendly interface, robust functionality and adaptability, MT4 has become a staple among forex traders worldwide.

TopFX leverages the power of MT4 to offer its clients a seamless trading experience that includes advanced charting tools, a vast array of technical indicators and the ability to use Expert Advisors (EAs) for automated trading.

MT4’s popularity is not just due to its comprehensive trading tools but also its stability and reliability, ensuring traders can operate in the markets with confidence. Whether on desktop or mobile, MT4 provides a consistent trading experience, allowing traders to manage their positions, analyse markets and execute trades from anywhere, at any time.



cTrader is renowned for its sleek interface, sophisticated trading tools and advanced order capabilities, making it a preferred platform for traders looking for direct market access and algorithmic trading options.

TopFX’s integration of cTrader caters to those who appreciate depth of market (DOM) visibility, level II pricing and the ability to execute orders at the click of a button.

cTrader is especially favoured by traders who employ a more technical approach, requiring precise entry and exit points, thanks to its rapid order execution and transparency. The platform also boasts a robust suite of charting and analysis tools, customisable to the trader’s preferences.

For those interested in algorithmic trading, cTrader’s native support for cAlgo provides an intuitive environment for creating and running trading bots and custom indicators.

TopFX’s offering of both MT4 and cTrader platforms demonstrates the broker’s commitment to providing its clients with flexibility, advanced technology and a high-quality trading environment.

By catering to the diverse needs of the trading community, TopFX ensures that every trader, regardless of their experience level or strategy, has access to the tools and functionalities they need to succeed in the competitive world of Forex and CFD trading.




TopFX caters to a wide array of traders by offering specialised account types designed to meet various trading needs and strategies.

The broker simplifies its offerings into three main categories: the Raw Account, the Zero Account and an Institutional Account.

Each of these account types is tailored to provide specific benefits and features to suit different preferences, ensuring that both retail and institutional clients find an account that matches their trading style and requirements.


Raw Account

The Raw Account is ideal for traders who prefer trading with raw spreads and are willing to pay a commission on trades.

This account type offers spreads starting from 0.0 pips, providing a transparent trading environment where the costs are clear and upfront. The Raw Account is particularly suited to scalpers and day traders who benefit from tight spreads and aim to make numerous trades within a short timeframe.

The commission structure is designed to be competitive at only EUR 2.75 per lot per side, ensuring traders can manage their trading costs effectively while accessing deep liquidity and fast execution speeds.


Zero Account

The Zero Account is designed for traders who prefer not to pay commissions on trades, offering zero-commission trading with slightly wider spreads, starting at 0.5 pips, compared to the Raw Account.

This account type is an excellent option for traders who execute fewer trades with larger volumes, where the cost of spreads is more impactful than commissions.

The Zero Account still provides access to competitive spreads, ensuring that traders can enjoy cost-effective trading without compromising on the quality of execution or the range of available instruments.


Institutional Account

TopFX also offers an Institutional Account, tailored for high-volume traders, hedge funds and financial institutions requiring a bespoke trading environment.

This account type provides customised solutions, including tighter spreads, lower commissions and a dedicated account manager. Institutional clients can benefit from TopFX’s deep liquidity pools and direct access to interbank pricing, ensuring optimal execution for large volume trades.

Additionally, institutional accounts may offer more flexibility in terms of leverage and margin requirements, tailored to meet the specific needs and risk management strategies of institutional traders.




Opening an account with TopFX is straightforward. Prospective traders need to fill out an online application form on the TopFX website, providing personal and financial information.

Following this, they must submit documents for verification, such as a government-issued ID and proof of residence.

Once verified, traders can fund their account with the minimum deposit of only EUR 50 and start trading.




TopFX offers a demo account, allowing traders to practice trading strategies in a risk-free environment using virtual funds.

This feature is particularly beneficial for beginners to familiarise themselves with the trading platforms and for experienced traders to test new strategies.




TopFX provides its copy trading functions through cTrader where they have developed a program called TopFX cTrader Copy, allowing traders to follow signal providers or even become signal providers themselves.

Additionally, through the various tools available on MT4 and more specifically cTrader, traders are able to use EAs and various algorithms to perform copy trading functions on their trading accounts.




TopFX adopts a transparent and competitive pricing structure designed to cater to the diverse needs of its trading clientele, encompassing retail and institutional traders alike.

Understanding the commissions and fees associated with trading is crucial for traders to manage their costs effectively and maximise their trading performance.

Below, we delve into the specifics of the commissions and fees for the Raw Account, Zero Account and Institutional Account, providing insight into how TopFX structures its pricing to accommodate various trading strategies and volumes.


Raw Account Commissions

The Raw Account is specifically tailored for traders who prefer trading with the tightest spreads available, starting from 0.0 pips. To achieve this, TopFX charges a commission on trades executed within this account.

These commissions start at EUR 2.75 per lot per side, which is very competitive in comparison to other offerings in the industry.  The commission structure is designed to be competitive and transparent, ensuring traders are fully aware of their trading costs upfront.

This setup is ideal for scalpers and high-frequency traders for whom the spread can significantly impact their short-term trading strategies.


Zero Account Fees

For traders opting for the Zero Account, the primary appeal is the absence of commission on trades. Instead, trading costs are embedded within the spreads, which are slightly wider at 0.5 pips, than those available in the Raw Account but still remain competitive within the industry.

This account type is particularly appealing to traders who prefer a simpler cost structure, enabling them to execute trades without having to calculate additional commission charges.

The Zero Account is suitable for traders focusing on medium to long-term strategies, where the slightly wider spread has a minimal impact on overall trading costs.


Institutional Account Pricing

Institutional clients with TopFX benefit from a customised pricing model that is tailored to their specific trading volume and market access requirements.

The broker offers negotiable commission rates and spreads based on the institution’s trading activity, providing a cost-efficient solution for high-volume traders.

Institutional accounts also have the potential for bespoke leverage and margin requirements, further enhancing the trading conditions based on the institution’s risk management strategies and capital allocation.


Additional Fees

Beyond the trading-specific fees, it’s important for traders to be aware of any potential non-trading fees, such as withdrawal or inactivity fees.

TopFX strives to keep these fees minimal to ensure a cost-effective trading environment for its clients by charging no withdrawal or deposit fees. An inactivity fee of EUR 5.00 is charged per month after 3 consecutive months of inactivity.




TopFX offers leverage up to 30:1 for certain account types and instruments, enabling traders to open larger positions with a smaller capital outlay. However, it’s important for traders to understand the risks associated with high leverage, as it can amplify both profits and losses.

In future, we would like to see TopFX offer larger amounts of maximum leverage as 30:1 represents one of the lower leverage tools in the industry.




The broker supports various methods for deposits and withdrawals, including bank transfers, credit / debit cards and various e-wallets all mentioned in the table above.

TopFX processes transactions promptly, with withdrawals often completed within one business day, though the time can vary depending on the payment method.

As mentioned in the Commissions and Fees section, the broker does not charge any fees on withdrawals and deposits, ensuring that your trading costs are kept to a minimum.




TopFX prides itself on its customer service, offering support through live chat, email and phone. The broker’s support team is knowledgeable and responsive, providing timely assistance to clients’ queries and issues.

From what we were able to gather from our research, it seems as if TopFX’s customer support is available 24/7 which is a massive advantage to its clients.




In the realm of online trading, the safety and security of client funds and personal information are paramount.

TopFX acknowledges this importance by implementing rigorous measures and adhering to strict regulatory standards to ensure a secure trading environment for all its clients.

A critical component of this trust and security framework is the oversight by reputable regulatory bodies.


Regulatory Oversight

TopFX is regulated by several key financial regulatory authorities, which oversee the broker’s operations and ensure compliance with international and local financial laws and standards.

These regulatory bodies play a crucial role in safeguarding the interests of traders, providing a layer of security and confidence.

TopFX is headquartered in Cyprus and is therefore primarily regulated by the Cyprus Securities and Exchange Commission (CySEC), one of the most recognised financial regulatory authorities within the European Union.

CySEC regulation ensures that TopFX adheres to the stringent EU financial regulations, including the Markets in Financial Instruments Directive (MiFID II), which provides a harmonised regulatory regime for investment services across the 31 member states of the European Economic Area.


Client Fund Segregation

TopFX adheres to the principle of client fund segregation, ensuring that clients’ funds are kept separate from the company’s operational funds.

This separation is crucial in the event of financial difficulties or insolvency of the broker, as it protects client funds from being used to pay back creditors.

The segregation of funds is a standard requirement enforced by many regulatory authorities, including CySEC, providing an additional layer of security to traders.


SSL Encryption and Data Protection:

To safeguard clients’ personal and financial information, TopFX employs state-of-the-art encryption technologies, including Secure Socket Layer (SSL) encryption.

This ensures that all data transmitted between the client’s device and TopFX’s servers is securely encrypted, preventing unauthorised access or data breaches.

The broker also complies with data protection regulations, ensuring that clients’ information is handled with the utmost confidentiality and is not shared with third parties without consent.




From time to time, TopFX offers promotions and bonuses to its clients, such as deposit bonuses or reduced commission rates. However, these promotions are subject to change and might be restricted in certain jurisdictions due to regulatory requirements.

Currently, there are no promotions or bonuses listed under the broker’s website, however this may be subject to change in future and traders are encouraged to visit the website on a regular basis to see if this has changed.




TopFX does not provide a great deal of research tools to its traders as most other brokers do, so this is certainly an area where the broker could improve.

However, there are a large range of research tools available on the MT4 and cTrader platforms which traders can utilise while trading with TopFX.




TopFX’s educational offerings are somewhat limited compared to other industry leaders. This is an area where TopFX could improve to better support its clients, especially beginners.




TopFX has received several awards in recognition of its excellent trading conditions, customer service and innovative technology. These awards are a testament to the broker’s commitment to providing high-quality services to its clients.

Some of their most recent awards include the following:

  • Best B2B (2022) – Global Forex Awards.
  • Best B2B (2021) – Global Forex Awards.
  • Best FX Liquidity Provider (2020) – The European Global Banking and Finance Awards.
  • Best Technology Corporate Leadership (2019) –
  • Best Cryptocurrency Broker (2018) – World Finance.
  • Best Trade Execution (2018) – World Finance.
  • Best Partner Program (2017) – China Forex Expo.




Given its regulatory compliance, transparent operations and positive client feedback, TopFX can be considered a safe broker for trading forex and CFDs. The broker takes significant measures to ensure client security and fair trading practices.

TopFX’s commitment to safety and security is evident through its adherence to regulatory standards and the implementation of advanced security measures. The oversight by CySEC and potentially other financial regulatory authorities across Europe provides a strong foundation of trust and reliability.

By prioritising the segregation of client funds, employing robust encryption technologies and adhering to strict data protection practices, TopFX ensures that its clients can trade with confidence, knowing their investments and personal information are well-protected.




TopFX stands as a reputable and reliable broker in the forex and CFD trading industry.

Its comprehensive range of trading instruments, competitive pricing and robust trading platforms cater to a wide audience of traders.

While there are areas for improvement, such as expanding its educational resources, the broker’s strengths in safety, customer service and trading conditions make it a great choice for traders seeking a dependable trading partner and the team at highly recommends TopFX as a superb broker.

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