Best More Detailed Review Of TopFX Forex Broker 2023

TopFX is a global multi-asset brokerage company with a focus on liquidity delivery. Since 2010, the broker has offered brokers and other financial firms liquidity solutions. With the tightest spreads on the market and pinpoint accuracy, they offer leveraged trading of more than 1000 assets including Forex, Shares, Indices, Metals, Energies, ETFs, and other CFDs.

Over 180 Forex brokers, investment companies, and hedge funds have benefited from TopFX's exceptional liquidity solutions over its ten years of operation in the CFDs market.

TopFX increased the breadth of its starter packages during the past few years, lowering the high entry barrier to the fiercely competitive forex market.

Due to the regulations it imposes, TopFX is a STP Forex Broker with high requirements for a secure trading environment. Indonesia, Thailand, Malaysia, Vietnam, and Nigeria are just a few of the active countries in Europe, Asia, and Africa where the broker has clients. Since it offers the same or even more investment alternatives to the global trading community, the offering to clients is extensive and even comprehensive.

Access to a moderate selection of CFD markets and currency pairs is provided by TopFX, which also provides the MetaTrader and cTrader platform suites. In contrast, TopFX finds it difficult to compete with the top brokers in a number of areas, including market analysis and education.

TopFX offers liquidity to retail brokers and has grown its company to offer brokerage services to traders directly. Since 2010, customers have access to a diverse selection of assets, a modernised MT4 trading platform, and cTrader as a substitute. The price environment for commission-free and commission-based accounts continues to be among the best in the whole sector, demonstrating access to substantial liquidity. TopFX is still a top option for copy trading using the built-in feature of the cTrader platform and for automated trading solutions.

TopFX Pros and Cons

Pros

• Powerful cTrader platform capabilities
• Global expansion to include Australia, Asia, the Middle East and North Africa, and Europe
• cTrader platform integration for autochartist.
• Founded in Cyprus known for its great technology
• Low Spreads
• MetaTrader 4 and cTrader are both available.

Cons 

• International proposal performed through offshore branch
• No 24/7 support
• No comprehensive education

TopFX Fees

Clients benefit greatly from TopFX's excellent pricing advantage as a liquidity provider. One of the best among brokers, the commission-free structure starts at a minimal mark-up of 0.5 pip, or $5 each 1.0 standard lot. One of the most trader-friendly options is available to traders who choose the commission-based option: raw spreads starting at 0.0 pips for a commission of $2.75 per lot or $5.50 each round lot. Swap rates on leveraged overnight positions and potential third-party deposit and withdrawal fees are additional expenses. After 90 days of dormancy, TopFX levies a $5 monthly inactivity fee and transfers corporate action on to client portfolios. Overall, the pricing environment at TopFX is among the most aggressive.

By following these procedures, MT4 traders can quickly access swap rates from their platform:

1. In the Market Watch box, right-click the target symbol and choose Symbols.

2. After choosing the preferred currency, select Properties on the right side.

3. Scroll down until you see Swap Long and Swap Short.

Moving on to the crucial aspects about trading costs, we strongly advise you to double-check the terms because they may fluctuate significantly depending on the trading platform you choose and the account type you choose. TopFX costs vary depending on the type of account you use, so be careful to pick one that satisfies your needs.

While there is no cost for Zero account types, the broker charges 2.75 EUR per side and per lot for Raw Accounts.

TopFX Based on our analysis and comparison with more than 500 brokers, fees receive a 7.8 out of 10 rating. Additionally, for some account types, the broker levies a commission fee each lot. The prices vary based on the business.

TopFX Account types

The choice of account type at TopFX is based on your preference because both accounts have ultra-low spreads and sharp execution available to you.

You can trade using spreads starting at 0.0 pips and commissions of €2.75 per lot per side if you use a RAW account. For traders who prefer to receive a raw price feed and pay commissions separately, the TopFX RAW account is perfect. Although for certain traders it might be a factor enhancing order execution transparency, TopFX RAW accounts are just as cost-effective as their ZERO accounts.

They provide liquidity and have unbeatable prices that are difficult to get elsewhere. TopFX offers the exact same rate for both types, in contrast to the common industry practise of charging basic, no-commission accounts more than raw spread accounts.

You can trade with among of the lowest market-wide all-inclusive spreads when you choose the TopFX ZERO account. Additionally, the broker's lightning-quick execution and abundant liquidity guarantee a very productive trading environment.

TopFX Deposit and Withdrawal Methods

TopFX provides a variety of deposit options, Negative Balance Protection, and no deposit fees. Each and every client's money is kept in separate accounts with recognised banks.

While TopFX doesn't charge any fees for deposits or withdrawals, your bank or payment provider may. Your money is kept apart from TopFX's own money in segregated accounts with trustworthy banks. TopFX will never utilise your money for business operations or other uses, for this reason.

The rating for TopFX Funding Methods is 8.2 out of 10. The minimum deposit is one of the lowest, and there are no deposit or withdrawal fees levied by the broker. The selection of funding ways is also extremely broad, which is a plus.

Both of the two account types that TopFX offers are accessible on cTrader and MetaTrader. There is the commission-based RAW account as well as the spread-only ZERO account. 2.75 EUR per side is the commission for the RAW account (5.50 per round turn standard lot). The minimum deposit varies depending on the payment option you select. Remember: Average spreads are not available to determine the actual cost of trading with TopFX.

Deposit procedures

The following payment options are accepted by the broker:

the use of bank wires

TopFX minimum deposit Credit/Debit Cards (Visa, MasterCard) Online payment processors PayPal, Neteller, and Skrill

Since TopFX has no minimum deposit requirement, you can open any of the two account types the broker offers with the funds you have available.

Compared to other brokers, TopFX's minimum deposit

Source:

• https://www.dailyforex.com/
• https://55brokers.com/