It does not offer many additional features that would assist and enhance the trading experience further. However, the offering between the entities might differ, this is why we recommend traders to consider the applicable fees based on the jurisdiction they are going to open an account with. Overall, with commission at €2.75 per lot per side and low spreads for the spread-based accounts, TopFX fee structure and costs are favorable and suitable for cost-conscious clients. Both Trading Central and Autochartist offer excellent trading signals geared towards day traders.
Cost Structure and Fees
Moreover, their proactive risk management and regular independent audits further enhance security and transparency. These measures collectively provide a secure and reliable trading environment for clients. However, TopFX doesn’t offer MT5 or the larger range of markets typically offered by the leading brokers. Moreover, market research is practically non-existent on the TopFX platform, and it lacks meaningful educational content. Finally, publishing its average spread data each month would highlight the true value of its pricing across its two main account types. We have been providing liquidity solutions to brokers and other investment firms since 2010.
Top 3 Forex Brokers
TopFX provides risk management tools like stop-loss orders and price alerts to help you manage inherent crypto trading risks. The program also emphasizes several benefits that could entice potential IBs, including access to a universal bonus, high-leverage options on cTrader and MT4, and raw spreads from 0.0 pips. They’re helpful but won’t enhance your trading experience compared to what other brokers offer. The real value in these promotions is how you use them, rather than the bonuses being a standout feature. In a market where brokers often offer bonuses and incentives, TopFX’s promotions are solid but not revolutionary.
What types of accounts does TopFX offer?
With lot sizes starting at 0.01 (including for indices), TopFX is accessible to beginners, while experienced traders can trade up to 100 lots. Base accounts are also limited to USD, EUR, and GBP, which may increase your trading costs due to conversion fees. Yes, TopFX has educational resources like webinars, tutorials, and market analysis to help traders improve their knowledge and abilities. Compared to some brokers, TopFX’s leverage on volatile instruments like cryptocurrencies is more conservative, which could be seen as a responsible approach to protect traders. TopFX has put thought into its pricing and trading conditions, aiming to cater to a broad range of traders. However, the effectiveness of their offerings ultimately depends on how well they align with your specific needs.
Forex Trading Options
Unfortunately, MT4’s more limited PAMM offering supports live MT4 accounts only. Overall, TopFX offers a solid range of contact methods, ensuring clients have multiple ways to get help. However, extending support hours to include weekends could improve the service. While this aligns with industry standards, traders should always exercise caution to avoid over-leveraging, particularly in volatile markets.
- Over 50 accepted currencies and multiple payment options help clients of TopFX to process transactions globally.
- This includes encrypting personal data and having strict rules about who can access and store data.
- For the Raw account the spreads start from 0.0 pips, with additional commissions, whereas for the Zero account, all the fees are integrated into spreads, and start as low as 0.5 pips.
- The broker’s customer support team can be reached 24/5 via telephone, email, live chat, or by filling the ‘contact us form.
If you have experience trading with TopFX please share your personal review of the broker and what you think are strong and weak points. Compare the markets and instruments offered by TopFX and its competitors. Please note, some markets may only be available via CFDs or other derivatives. TopFX’s website has a ‘News & Analysis’ section that includes a ‘Daily Market Digest‘ by in-house financial analyst Myrsini Giannouli.
Its fast execution speeds, averaging under 25 milliseconds, offer a significant advantage. TopFX’s most significant hurdle for inexperienced traders is the lack of a proprietary trading platform, such as those provided by Plus500 or Trading 212. TopFX consistently offers some of the industry’s lowest spreads and trading fees. Drawing on real-world experience and comparisons with our 227-strong database of brokers, we provide a well-rounded assessment of TopFX’s strengths and weaknesses. Beyond the standard trading costs, you must know of any additional fees that might impact your overall trading experience at TopFX. This includes inactivity fees and other charges that might apply in specific situations.
- I have been trading with TopFX for over 2.5 years now, and I have more than 10 years of trading experience overall.
- The spreads on indices are generally competitive, although there may be variations depending on market conditions.
- Use our country selector tool to view available brokers in your country.
- The Zero and VIP accounts avoid commissions altogether, focusing on spreads for trading costs.
- TopFX emphasizes its unavailability for the USA and Belgium residents.
- Our broker ratings are also informed by the experience of our researchers during the evaluation process.
Very professional service
TopFX being a broker with a long history of operation provides favorable proposal with some of lowest fees either based on commission or spreads. The performance of trades with our tests been good too, execution is fast, no rejections and overall the trading experience is smooth. The broker’s all-in-one broker solution provides traders all over the world with a comprehensive set of services. I rank trading costs among the most defining aspects when evaluating a broker, as they directly impact profitability. TopFX delivers a competitive commission-based cost structure but requires a minimum deposit of $5,000.
However, I measured the broker’s execution speed at around 75 milliseconds, which is rather slow for scalping. It offers over 700 instruments across currency pairs and CFDs on commodities, share CFDs, indices, cryptocurrencies, and ETFs. TopFX provides wire transfers, debit/credit cards, e-wallets, and cryptocurrencies for processing transactions.
However, if you opt for a bank transfer, you must deposit at least 1,000 EUR/USD. It’s topfx reviews not a major obstacle, but it’s something to keep in mind if you plan on starting with a smaller amount. Yes, if an account is inactive for 90 days, TopFX charges a fixed fee of USD 5/EUR/GBP/CHF or 600 JPY per month. If the account balance is insufficient, a lower fee may apply, and the account might be closed. TopFX structures its margin requirements to align with the offered leverage. Withdrawals made with Mobile Payments (M-Pesa, OZOW) beyond the second one each month come with a 4.5% fee.
