TopFX broker overview

TopFX group consists of TopFX Ltd, an online broker based in Cyprus and regulated by the Cyprus Securities and Exchange Commission (CySEC License No. CIF 138|11), and TopFX Global Ltd, a company regulated by the Seychelles Financial Supervision Authority (FSA) with License No- SD037.The broker offers access to various markets, including forex, indices, shares, metals, energies, and crypto CFDs via the popular MT4 and cTrader platforms.

With an experience of more than a decade, TopFX offers traders fast and reliable access to global markets. With a competitive leverage range of up to 1:500 (depending on the financial instrument traded and the regulatory jurisdiction), traders have the opportunity to gain exposure to a larger trading capital than their initial deposit.The broker offers its clients a minimum deposit of $50 or account currency equivalent.

In addition, TopFX offers traders 24/5 live chat, phone, and email support for any questions or queries. The broker also provides a free demo account to practice trading and test out strategies before investing real funds.

Broker safety details:

TopFX group is a regulated broker, with its activity supervised by the Cyprus Securities and Exchange Commission and the Seychelles Financial Supervision Authority (FSA). With strict regulatory oversight, clients can rest assured that their funds are safe and secure. The broker also uses the latest encryption technology to protect traders' data and personal information.

This multi-asset broker has implemented advanced KYC (Know Your Customer) policies to ensure that all clients are legitimate. Furthermore, TopFX is segregated from the company's funds, so clients can be sure that their money is held separately in a segregated bank account.

They have also implemented AML (Anti-Money Laundering) procedures to deter money laundering and terrorist financing activities. To ensure the safety of traders' funds, they also offer negative balance protection that prevents traders from losing more money than they have deposited.

The broker has a tie-up with reputable banks which makes it a secure choice for forex and other market traders.

Fees information of TopFX:

The minimum deposit and withdrawal are set at USD 50 or equivalent in other currencies. The broker does not charge any deposit or withdrawal fees for the 1st and 2nd deposit during one calendar month. However, traders might need to pay third-party fees, such as bank charges.

The spreads vary with the account type and market conditions. On the Raw accounts, traders can expect spreads from 0.0 pips which is very competitive. On the other hand, for traders opting for a Zero account, the spreads start from 0.5 pips.

For the Raw account, traders need to pay a commission of $2.75 per side per lot, which is also quite competitive. For the Zero account, there is no commission, and traders can benefit from tight spreads and faster execution.

Moreover, there is no maintenance fee or any other hidden charges, so traders can get complete control over their trading costs. The overall fee structure of this broker is quite competitive and provides traders with an efficient trading experience.

Spreads fee details:

The spread fees at TopFX depend on the type of account traders opt for. On its Raw accounts, the broker offers spreads from 0.0 pips, whereas on its Zero accounts, the spreads start from 0.5 pips. The spreads are floating, meaning they fluctuate with market conditions.

The broker does not charge any commission for trades except for the Raw account, where a commission of $2.75 per side per lot is applicable. Compared to other brokers, the spreads and commission fees at TopFX are competitive, allowing traders to take advantage of the price dynamics.

Swap fee details:

At TopFX, traders may incur swap fees when they hold their positions overnight. The applicable fees depend on the instrument being traded and the direction of the trade. Traders can view the applicable swap fees on the broker's website. The broker also offers Swap-free accounts for traders of Muslim faith.

The swap fee is a standard fee among forex brokers, so it is not a major point of concern. On the other hand, the Client will not have to pay any financing costs if they open and close a CFD position on the same day. Overall, the fee structure of TopFX is quite competitive, and traders can benefit from lower trading costs.

Deposit and withdrawal options:

The broker offers a wide range of deposit and withdrawal methods allowing traders to make transactions quickly and conveniently. The accepted deposit methods include Visa, SEPA money transfer (EU), Global wire transfer, Skrill, Neteller, cryptocurrencies, and many other methods.

The minimum deposit is set at USD 50 or equivalent in other currencies, and the funds are credited instantly (except for SEPA and wire transfers, which take around 3-5 business days). For funding accounts with cryptocurrencies, the minimum amount is 0.001 BTC, and the funds are credited instantly.

The broker does not charge any deposit fee, making it an affordable option for traders. For withdrawal methods, the broker offers all deposit options and additionally allows withdrawals through many regional-specific payment methods.

The first and second withdrawals are free of charge, while regular fees apply for further withdrawals. There are no fees for bank wire withdrawals above 100 USD/EUR; however, below this amount, a flat fee of 10 EUR/USD per withdrawal will apply. The fee is valid for every calendar month, and the first two withdrawals are free of charge once a new month starts.

Overall, the broker's withdrawal policies are transparent, allowing traders to make transactions efficiently and hassle-free. You can also get in touch with them at support@topfx.com.sc to learn more about their payment methods.

Available tradable markets:

TopFX offers traders a wide range of CFDs that include forex pairs, indices, shares, metals, energies, ETFs and cryptocurrencies. With the support of cTrader and MT4, traders have access to all the tradable markets and can execute their trades with ease. Let's look at all tradable markets available at TopFX.

Forex:

They offer 60+ Forex pairs, including majors, minors, and exotics. With tight spreads from 0.0 pips and ultra-low commissions on the RAW account, traders can take advantage of the price dynamics and benefit from low trading costs. They offer industry-leading prices and sharp execution, ensuring that traders always receive the best prices.

The average execution time is below 20 ms, allowing traders to benefit from quick trade execution. Additionally, leverage up to 1:500 and trading hours of 00:01 EET Monday- 23:59 EET Friday make TopFX an ideal choice for traders who want to take advantage of the price dynamics and benefit from quick execution.

Some of the popular major currency pairs they offer include EUR/USD, USD/JPY, GBP/USD, AUD/CAD, and many more. Along with this, they also offer minor pairs like EUR/NZD, USD/SGD, GBP/JPY, NZD/CHF, and exotic pairs like USD/SEK, EUR/TRY, and many more.

Shares CFD:

TopFX offers access to over 500 global Share CFDs, including Apple, Amazon, Facebook, Credit Suisse, Deutsche Bank, and more. With the help of cTrader, traders can benefit from ultra-fast execution and 0 commissions on the RAW account.

Stock traders can easily take long or short positions based on their view of the market without having to buy/sell physical stocks. Traders have access to MT4 and cTrader, allowing them to execute their trades and benefit from the robust platform easily.

With 600+ instruments across multiple asset classes, traders can diversify their portfolios and benefit from hedging strategies. On their dedicated shares CFD page, you can search through the list of instruments and start trading in no time.

Indices:

Indices are a great way to access the global equities market without focusing on individual shares. With TopFX, traders have access to over 15 stock index CFDs, including the DAX, FTSE, NIKKEI 225, and S&P 500. They offer tight spreads, flexible position sizing, allowing traders to manage their exposure easily.

The minimum lot size is one, and the spreads are highly competitive, while the margin requirements depend on the instrument. With support from MT4 and cTrader, traders can easily access these instruments and benefit from the robust platforms. Indices trading at TopFX is ideal for traders who want to manage their risk exposure and benefit from portfolio diversification.

Cryptocurrency CFDs:

With TopFX, you can capitalize on the liquidity of cryptocurrencies without actually owning them. You can trade over 20 pairs, including Bitcoin, Ethereum, Litecoin, Ripple, Bitcoin Cash, and more. Trading cryptocurrencies with TopFX allows you to benefit from leverage up to 1:10, and the minimum contract size is 0.01 lots.

The trading hours are 24/5, and the spreads are quite competitive. With the support of cTrader, you can access the crypto markets with ease. With lightning-fast execution, traders can benefit from short-term price movements and capitalize on the volatility of the market. The trading hours for cryptocurrency CFDs are Sunday 21:00 - Sunday 20:59 UTC+0 DST.

Metal CFDs:

If you are looking for a diversified portfolio, metal CFDs may be the right choice for you. TopFX offers traders access to Gold, Silver, Platinum, and Palladium with tight spreads and quick execution.

Traders have access to daily market analysis and in-platform signals allowing them to take advantage of market movements. With MT4 and cTrader, traders can benefit from a robust platform and trade on any device with ease. The minimum trade size is 0.01 lots, and the spreads are competitive, starting from 0.2 pips. You can trade popular metal CFD pairs such as XAU/USD, XAU/EUR, XAG/USD, and XAG/EUR.

Energies CFDs:

CFDs on Energies allow you to trade the oil and gas market without investing in physical barrels or gallons. With TopFX, traders can take a long or short position on WTI, Natural Gas, and Brent Crude Oil with spreads starting from 3 points.

As with all CFDs, you can trade on margin and get increased exposure to the market. The minimum contract size is 0.01 lots and the leverage is up to 1:100; available on MT4 and cTrader. With tight spreads and ultra-low commissions when you choose the RAW account, TopFX is the ideal broker for energy CFDs. You can also benefit from no commissions when you choose the Zero account.

ETFs:

For ETF traders, TopFX offers CFDs on 18 iShares. These ETFs track the performance of different markets and sectors, allowing you to get exposure without trading individual stocks. All ETFs are available with leverage up to 1:20, and the spreads are highly competitive.

The trading hours for ETFs at TopFX are 14:30 - 21:00 UTC+0 DST with a break from 21:01 - 14:29 UTC+0 DST. You can access these instruments on MT4 and cTrader, with the minimum trade size being 0.01 lots. ETFs are ideal for individuals looking for a diversified portfolio and exposure to different markets.

Leverage information:

TopFX offers traders the flexibility to choose from a wide range of leverage ratios according to the regulatory jurisdiction they fall under. For clients within the European Union, maximum leverage is set to 1:30. For clients outside EU, under the FSA jurisdiction, leverage on forex pairs is up to 1:500, indices up to 1:200, shares & ETFs up to 1:20, metals up to 1:200, energies up to 1:200, and cryptocurrencies up to 1:10.

The leverage you choose should be based on your risk tolerance and trading strategy. Higher leverage can result in bigger profits but also greater losses, so you should use it with caution. The leverage range available at this multi-asset broker is competitive and can be adjusted in line with your needs.

Negative Balance Protection (NBP):

TopFX takes the safety of its clients seriously and offers Negative Balance Protection by default on all accounts. This means that your account balance can never go below zero, and you will never be liable for losses that exceed your balance. This feature offers traders peace of mind that their capital is protected and ensures a secure trading environment. NBP is a great safety measure and should be taken into account when choosing a broker.

Available trading platforms:

TopFX offers traders access to two of the leading trading platforms - MT4 and cTrader. Both are available on desktop, web, and mobile and provide a range of features, including charting tools, technical indicators, automated trading capabilities, multi-chart views, and copy trading. Let's look at both platforms in detail:

MetaTrader 4:

MT4 is a highly popular trading platform used by millions of traders around the world. It includes a range of features such as interactive charting, nine timeframes, 30+ pre-installed technical analysis indicators, 1-click trading, and automated trading with Expert Advisors. You can also build your own robots and custom indicators with MQL4.

MT4 is available in multiple languages and offers a user-friendly interface, making it ideal for traders of all experience levels. Using MQL4, traders can access a range of powerful tools and features such as Signals, VPS, Market, Expert Advisors, Trading Strategies Tester, and more.

MT4 lets you create multiple trading accounts and manage them from one platform, making it ideal for traders who are looking for a more personalized trading experience. Traders can also open a demo account to practice their trading strategies without risking any capital.

cTrader:

cTrader is a powerful and advanced trading platform that offers a range of features, including charting, trading signals, and automated trading with Expert Advisors. It also supports a wide range of order types with no requotes or rejections.

The platform is designed for traders who need a more sophisticated trading environment with advanced order types and technical analysis tools. It includes features such as a customizable interface, automated trading with cAlgo robots, and a range of order types, including stop-loss and take-profit orders.

cTrader platform offers multiple ways to trade the markets, including manual trading, copy trading, and automated trading. It also provides in-platform signals from Trading Central that can help traders identify potential trade setups.

Trading accounts available at this broker:

TopFX offers two trading accounts to its traders, which are:

RAW Account:

The RAW account allows traders to access the markets with spreads from 0.0 pips, leverage up to 1:500 on forex, and a commission of $2.75 per side per lot. It is suitable for intraday traders and scalpers who want tight spreads and fast execution speeds.

The minimum deposit with the RAW account depends on the payment method you use. The minimum lot size is 0.01, and the maximum trade size is 100 lots. Traders have access to EAs, robots, and liquidity from TopFX.

The stop-out level for the RAW account is 35%. This means that when your equity falls below your margin level, all open positions will be automatically closed. For Muslim traders, TopFX also offers Islamic accounts, which are swap-free and compliant with Sharia law.

Zero Account:

The Zero account allows traders to access the markets with spreads from 0.5 pips, leverage up to 1:500 on forex, and zero commission. The minimum deposit with the Zero account also depends on the payment method you use. The minimum lot size is 0.01, and the maximum trade size is 100 lots.

Traders have access to EAs, robots, and liquidity from TopFX. The Zero account is often chosen by beginner traders and traders who prefer the commission calculated into the spread. For Muslim traders, an Islamic account option is also available.

The stop-out level for the Zero account is also 35%, and compared to the RAW account, the spreads on the Zero account are slightly wider.

Demo account:

TopFX also offers a demo account for traders who want to practice their trading strategies without risking any capital. The demo account is available for all traders looking for a risk-free way to practice trading on the TopFX platform. The demo account comes with virtual currency that allows traders to practice on the platform without any real money.

How to open an account?

Follow the below steps to open a TopFX account:

• Step 1: Go to the website and click on “Open a Live Account”.
• Step 2: Enter the details, including name, email, date of birth, and country of residence.
• Step 3: Select your trading account type and click “Create Account”.
• Step 4: You will be redirected to the secure client area where you need to submit your verification documents.
• Step 5: Once your account is verified, you can deposit funds and start trading.

Trading tools and education resources:

News:

The platform covers major economic news and offers up-to-date news analysis. You get the latest market news and product updates that help you make informed trading decisions. Their news section is updated throughout the day, helping traders stay on top of the markets.

Trading tools:

TopFX offers a range of trading tools, such as Autochartist and Trading Central, that help traders identify potential trade setups. It also provides in-depth analysis tools such as technical indicators, charting tools, and more. Both tools are highly reliable and offer real-time data to help traders make better trading decisions.

Market analysis:

The broker also offers daily and weekly market analyses to help traders stay updated with the latest events. The analysis includes fundamental and technical insights that keep traders informed of the latest market movements. Moreover, the platform also offers in-depth investment articles that cover a range of topics, from trading strategies to risk management.

Market holiday updates:

TopFX provides market holiday updates to help traders stay informed of the latest changes. The system regularly updates the list of upcoming market holidays so traders know when to expect volatility and when to adjust their trading strategies.

TopFX broker in a nutshell:

TopFX is a regulated online broker offering a wide range of tradable instruments. It offers traders access to forex, indices, metals, energies, cryptos, and ETFs. The broker also provides a demo account, trading tools, market analysis, and holiday updates. Overall, TopFX is an excellent choice for traders looking to trade a wide range of financial instruments with competitive spreads.

FAQs

What is the minimum deposit?

The minimum deposit is USD 50.

What is the maximum leverage offered by them?

The maximum leverage offered is up to 1:500.

Does it offer a demo account?

Yes, TopFX offers a demo account.

How do I open an account with this broker?

You can open an account by filling out the online registration form on the broker's website.

What platform does the broker support?

TopFX supports MT4 and cTrader.

What are the spreads at this broker?

The spreads start from 0.0 pips.

What is the minimum trade size?

The minimum trade size is 0.01 lots.

How to contact their customer support?

You can contact customer support by live chat, email, and call.

Is this broker regulated?

Yes, it is regulated by the CySEC and the FSA.

What are the deposit methods at TopFX?

The deposit methods at TopFX include wire transfers, credit/debit cards, and wallets.

What are the withdrawal methods available with this broker?

The withdrawal methods are similar to the deposit methods, including wire transfers, credit/debit cards, and wallets.

Do they offer educational content?

Yes, they offer a wide range of educational resources, such as blogs, webinars and market updates.

Can US residents open accounts at TopFX?

No, US residents cannot open accounts with this broker.

How can I change my password?

You can change your password by logging into your account and going to the "Profile" section. Then, click on the "Change Password" button.

What account types do they offer?

This multi-asset broker offers two accounts — RAW and Zero.