TopFX

Review

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Written by Alexandreas Kourris

Edited by David Johnson

Fact checked by Evelina Laurinaityte

Human moderated by Jason Peterson

Last updated October, 2024

TopFX Overall rating

4.0

Ranked 82 out of 827 (Forex Brokers)

Overall rating is derived from an aggregate of ratings in multiple categories.

	Rating	Weight
Popularity	3.3	3
Regulation	5.0	2
User Rating	Not rated	3
Pricing rating	Not rated	1
Features	Not rated	1
Customer Support	Not rated	1

TopFX is a multi-asset broker founded in 2010, offering a range of trading services across forex, indices, commodities, and cryptocurrencies. Regulated by CySEC and the Seychelles FSA, TopFX provides traders with access to competitive pricing, low spreads, and high leverage.

The broker supports popular platforms such as MetaTrader 4, MetaTrader 5, and cTrader, catering to both retail and institutional clients. With its focus on liquidity provision and tailored trading solutions, TopFX appeals to both beginners and advanced traders looking for a flexible and secure trading environment.

Pros

Regulated by CYSEC, offering some protection for EU clients
Established in 2010, with over a decade of experience
High leverage up to 1000:1 for international clients
Supports MetaTrader 4 and cTrader platforms
Wide variety of assets to trade: Forex, Crypto, Stocks, and more
Client funds are kept separate for extra security

Cons

Not a publicly traded company, doesn’t disclose financials
No licenses in major markets like the UK or US
No compensation scheme for non-EU clients
Limited customer reviews available

* On October 17, 2024

We tested TopFX using real-money live accounts. Our reviews are based on unbiased testing, using live accounts and real data from the broker’s platforms. We don’t favor or criticize brokers unless our findings support it. While we offer paid advertising, our review content stays neutral. For more details, visit our About Us page.

TopFX Profile

Company Name	TopFX Global Ltd
Categories	Forex Brokers, Cryptocurrency Brokers, Forex Rebates, Cryptocurrency Rebates
Primary Category	Forex Brokers
Year Founded	2010
Headquarters	Seychelles
Office Locations	Seychelles
Account Currency	EUR, GBP, USD
Support Languages	Arabic, Chinese, English, French, Greek, Hindi, Hungarian, Japanese, Polish, Portuguese, Russian, Spanish, Thai, Turkish, Vietnamese, Urdu, Bahasa (Indonesian)
Funding Methods	Bank Wire, Bitcoin, Credit/Debit Card, FasaPay, Litecoin, Neteller, Perfect Money, Skrill, SticPay, Ethereum, Bitwallet, Tether (USDT), DragonPay, Pix, M-Pesa, Apple Pay, Googlepay
Financial Instruments	Forex, Shares, Indices, Oil/Energies, Cryptocurrencies, Metals, ETFs
Prohibited Countries	Belgium, Canada, Iran, North Korea, Myanmar, United States

24 hour support

Segregated Accounts

Islamic Accounts

Accepts Canadian clients

Accepts Japanese Clients

Non expiring demo

Trading API

Cent accounts

Negative balance protection

Social trading

Regulatory deposit insurance

Trailing stops

Bonuses

Interest on margin

Fixed spread

Variable spread

Trustworthiness & Regulation

* On October 17, 2024

TopFX is regulated by CYSEC in Cyprus and the FSA in Seychelles. While this provides strong protections for European clients (such as segregated funds and an investor compensation scheme), global clients, particularly under the FSA, don’t receive the same level of protection.

TopFX has been operating since 2010, giving it solid experience in the industry. Even so, always remember that regulation doesn’t fully eliminate risks.

Company	Licenses & Regulations	Segregated Client Money	Deposit Compensation Scheme	Negative Balance Protection	Rebates	Max. Leverage Retail Clients
TopFX Ltd	Cyprus - CY CYSEC		up to €20,000			30 : 1
TopFX Global Ltd	Seychelles - SC FSA					1000 : 1

Deposit Insurance

TopFX offers deposit insurance through the Cyprus Investor Compensation Fund for clients under CYSEC regulation. This guarantees a payout up to a certain limit if the broker collapses.

However, clients trading under the FSA in Seychelles don’t benefit from the same insurance, as Seychelles regulations don’t mandate this kind of protection.

TopFX Account types

	Zero	Raw	cTrader Zero	cTrader Raw
Maximum leverage	1000:1
Mobile Platform	MT4 Mobile		cTrader Mobile
Trading platform	MT4		cTrader
Spread Type	Variable Spread
Minimum Deposit	50
Minimum Trade Size	0.01
Trailing Stops
Scalping Allowed
Hedging Allowed
Islamic Accounts

	Zero
Maximum leverage	1000:1
Trading platform	MT4
Mobile platform	MT4 Mobile
Spread type	Variable Spread
Minimum deposit	50
Minimum Trade Size	0.01
Trailing Stops
Scalping Allowed
Hedging Allowed
Islamic Accounts

	Raw
Maximum leverage	1000:1
Trading platform	MT4
Mobile platform	MT4 Mobile
Spread type	Variable Spread
Minimum deposit	50
Minimum Trade Size	0.01
Trailing Stops
Scalping Allowed
Hedging Allowed
Islamic Accounts

	cTrader Zero
Maximum leverage	1000:1
Trading platform	cTrader
Mobile platform	cTrader Mobile
Spread type	Variable Spread
Minimum deposit	50
Minimum Trade Size	0.01
Trailing Stops
Scalping Allowed
Hedging Allowed
Islamic Accounts

	cTrader Raw
Maximum leverage	1000:1
Trading platform	cTrader
Mobile platform	cTrader Mobile
Spread type	Variable Spread
Minimum deposit	50
Minimum Trade Size	0.01
Trailing Stops
Scalping Allowed
Hedging Allowed
Islamic Accounts

Spreads and Costs

* On October 17, 2024

TopFX offers competitive spreads for Forex and crypto, while the spreads for commodities and indices are slightly higher. They also charge commissions on certain account types, so it’s important to check the full cost structure when choosing an account.

Swap Rates/Financing Fees

Swap rates apply when you hold a position overnight. TopFX offers swap rates similar to other brokers. Positive swap rates can be an advantage, but negative swap rates can increase costs, especially on long-term trades.

Other Fees

TopFX charges fees outside of spreads and commissions. These include withdrawal fees, which vary based on the payment method, and inactivity fees if your account is dormant for a period.

Fee Type	Amount
Withdrawal Fees	Varies by method
Inactivity Fees	Yes

Islamic/Swap-free Accounts

Yes, TopFX offers swap-free accounts for clients who follow Sharia law. However, eligibility criteria may apply, so it’s best to contact the broker directly for details.

Comparison to other Brokers

* On October 17, 2024

TopFX is well-regulated and offers competitive spreads, making it a good option for traders. However, its protection for non-EU clients is not as strong as brokers regulated in stricter jurisdictions like the UK or Australia. While TopFX has a wide range of tradable instruments and high leverage, it has a smaller user base compared to top brokers like IC Markets or Pepperstone.

Trading Platforms

Platform	Automated Trading	Programming Language
MetaTrader 4 (Desktop, Mobile)	Yes	MQL4 (Moderately Easy)
cTrader (Desktop, Mobile, Web)	Yes	C# (Advanced)

TopFX offers both MetaTrader 4 and cTrader, two of the most popular platforms. MetaTrader 4 is beginner-friendly with strong charting tools and automated trading features using MQL4. cTrader, on the other hand, is more advanced and supports automated trading in the C# language, offering more customization for experienced traders.

Available Instruments

Asset Class	Number of Instruments
Forex CFD	55+
Crypto CFD	13
Stock CFD	599
Stock Index CFD	14
Commodities CFD	8
ETFs CFD	18

TopFX offers over 55 Forex pairs, 13 cryptocurrencies, and nearly 600 stock CFDs. As CFDs, traders speculate on price movements without owning the underlying asset. Be mindful of leverage, which can boost profits but also increase losses.

Leverage

TopFX offers leverage up to 1000:1 for clients under FSA regulation, while European clients are limited to 30:1 due to EU laws. The leverage depends on the asset and regulatory jurisdiction, giving traders flexibility to manage risk.

Prohibited Countries

TopFX doesn’t accept clients from certain countries like the United States, Canada, and Iran. Be sure to check the broker’s website for the most up-to-date list of restricted areas.

Education

TopFX offers a variety of educational resources aimed at helping traders improve their skills. These include webinars, trading guides, and platform tutorials. However, the content can be quite basic and may not be enough for advanced traders looking for in-depth material.

Promotions

TopFX doesn’t offer many promotions or bonuses, focusing more on its core services. However, it occasionally runs special offers for new clients, so it's worth checking their website for any current promotions.

TopFX User Rating

0.0

(0)

TopFX reviews by verified customers, cashback rebates, expert ratings, spreads & fees, leverage, demo accounts, downloads, trading platforms and more.

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TopFX Cashback rebates

Get Cashback

We will beat any competitor offer!*

Cash back rebates are paid per round turn lot unless otherwise specified. 1 Lot = 100,000 base currency units traded.

	Zero	Raw	cTrader Zero	cTrader Raw
Forex	Majors & Minors 0.40 Pips	Majors & Minors $1.25 Per Lot	Majors & Minors $20 Per 1 Million USD Traded	Majors & Minors $6.25 Per 1 Million USD Traded
Oil / Energies	$4.00 Per Lot	$1.25 Per Lot	$20 Per 1 Million USD Traded	$6.25 Per 1 Million USD Traded
Metals	Gold $4.00 Per Lot	Gold $1.25 Per Lot	Gold $4.00 Per Lot	Gold $6.25 Per 1 Million USD Traded
Cryptocurrencies	BTC & ETH $0.40 Per Lot	BTC & ETH $0.125 Per Lot	BTC & ETH $20 Per 1 Million USD Traded	BTC & ETH $6.25 Per 1 Million USD Traded
Payment Options	Monthly Cash Back Payments are credited and sent automatically by the 12th day of the month for trades where cashback has been accumulated between the first and the last day of the previous month.

	Zero
Forex	Majors & Minors 0.40 Pips
Oil / Energies	$4.00 Per Lot
Metals	Gold $4.00 Per Lot
Cryptocurrencies	BTC & ETH $0.40 Per Lot
Payment Options	Monthly Cash Back Payments are credited and sent automatically by the 12th day of the month for trades where cashback has been accumulated between the first and the last day of the previous month.

	Raw
Forex	Majors & Minors $1.25 Per Lot
Oil / Energies	$1.25 Per Lot
Metals	Gold $1.25 Per Lot
Cryptocurrencies	BTC & ETH $0.125 Per Lot
Payment Options	Monthly Cash Back Payments are credited and sent automatically by the 12th day of the month for trades where cashback has been accumulated between the first and the last day of the previous month.

	cTrader Zero
Forex	Majors & Minors $20 Per 1 Million USD Traded
Oil / Energies	$20 Per 1 Million USD Traded
Metals	Gold $4.00 Per Lot
Cryptocurrencies	BTC & ETH $20 Per 1 Million USD Traded
Payment Options	Monthly Cash Back Payments are credited and sent automatically by the 12th day of the month for trades where cashback has been accumulated between the first and the last day of the previous month.

	cTrader Raw
Forex	Majors & Minors $6.25 Per 1 Million USD Traded
Oil / Energies	$6.25 Per 1 Million USD Traded
Metals	Gold $6.25 Per 1 Million USD Traded
Cryptocurrencies	BTC & ETH $6.25 Per 1 Million USD Traded
Payment Options	Monthly Cash Back Payments are credited and sent automatically by the 12th day of the month for trades where cashback has been accumulated between the first and the last day of the previous month.

Notes

Rebates are not paid for:

EU residents
trading bonus funds

What are TopFX rebates?

TopFX rebates are a portion of the transaction cost that is paid back to the client on each trade, resulting in a lower spread and improved win ratio. For example, if your rebate is 1 pip and the spread is 3 pips, then your net spread is only 2 pips.

Many traders initially believe there must be higher costs elsewhere to compensate, however they soon find there is no catch and Forex rebates truly reduce the costs of the transaction and improve their bottom line.

How do TopFX rebates work?

When you link a new or existing forex trading account to us the broker pays us part of their spread or commission profit for every trade you make as compensation for referring a customer to them. We then share the majority of our revenue with you, paying you a cash rebate for each trade you make as thank you for signing up with us.

Unlike some of our competitors your spreads will never increase as a result of using our service! The only difference is: as our client you earn extra cash per trade, making trading through us more profitable than opening direct with the broker. Founded in 2007, we are the original and leading provider of forex rebates. We pay rebates to over 100,000 accounts and traders love our helpful 24 hour live chat, telephone and email support.

How much TopFX rebates can I earn?

Use our forex rebate calculator to estimate your TopFX rebate earnings:

Instrument

Deposit currency

Rebate per lot

Lots traded

You must enter a valid number

EUR.USD 1 Pip Size

Are TopFX rebates a scam; do my spreads increase?

TopFX rebates paid by legitimate rebate providers are not a scam, however scams do exist. The most common scam is a rebate provider that marks up the spread or commission in order to pay a higher rebate than competitors. Many brokers do allow a referring party, or rebate provider, to markup costs to traders they refer. Obviously this defeats the purpose of the service provided by the rebate provider and thus jeopardizes the viability of the rebate provider’s reputation and business, so a reliable provider wouldn’t consider this. Besides this, certain rebate providers may not pay on time, or not at all. This is why it’s important to choose a reliable provider.

When working with a trustworthy rebate provider, there is no ‘catch’. It is more beneficial to a trader’s financial position to work with a rebate provider than solely with the forex broker.

Are there any other benefits to signing up for TopFX rebates?

It depends on the rebate provider. Due to our unique relationship with many brokers, we have often mediated between brokers and clients in order to help successfully resolve client issues, including clients who are having withdrawal issues. Brokers are often very fast to respond to us, since we typically have many clients with them. Our knowledgeable support team is available 24 hours per day in 8 native languages & 23 total languages for any questions. We also offer trading tools, calculators, reviews and a robust forex education section.

How are forex rebates paid?

Because we deal with so many traders in so many different countries and serve 23 languages we have to cover a wide array of options. Here’s what we offer:

Forex rebate options vary per broker:

Monthly cash back	Payments are credited and sent automatically by the 12 of the month following the month rebates are earned in.
Spread or commission reduction	The trader actually receives reduced commissions and/or spreads. This is an exciting option offered by some of our top brokers.
Paid direct to brokerage account	Cashback is credited directly to the trader’s brokerage account, typically between 1-7 days after the trade is closed. This is another exciting options offered by some of our top brokers.

In the case of the ‘Monthly cash back’ rebate option, monthly payments can be paid via bank wire, Paypal, Skrill, Sticpay, China Unionpay, and Neteller. Some payment methods such as bank wire carries fees and often traders set a custom minimum payment amount in order to accumulate rebates and withdraw their rebates less often than monthly.

TopFX Regulation / Money Protection

5.0

Company	Licenses & Regulations	Segregated Client Money	Deposit Compensation Scheme	Negative Balance Protection	Rebates	Max. Leverage Retail Clients
TopFX Ltd	Cyprus - CY CYSEC		up to €20,000			30 : 1
TopFX Global Ltd	Seychelles - SC FSA					1000 : 1

TopFX Symbols

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