Edited by David Johnson
Fact checked by Evelina Laurinaityte
Human moderated by Jason Peterson
Last updated October, 2024

TopFX Overall rating

4.0
Ranked 76 out of 827 (Forex Brokers)
Overall rating is derived from an aggregate of ratings in multiple categories.
Rating Weight
Popularity
3.4
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 up to €20,000 30 : 1
TopFX Global Ltd 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 leverage1000:1
Mobile PlatformMT4 MobilecTrader Mobile
Trading platformMT4cTrader
Spread TypeVariable Spread
Minimum Deposit50
Minimum Trade Size0.01
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

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

Please make sure your comments are relevant and that they do not promote anything. Irrelevant comments, including inappropriate or promotional links, and comments containing abusive, vulgar, offensive, threatening or harassing language, or personal attacks of any kind, will be deleted.

TopFX Cashback rebates

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
ForexMajors & 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
MetalsGold $4.00 Per LotGold $1.25 Per LotGold $4.00 Per LotGold $6.25 Per 1 Million USD Traded
CryptocurrenciesBTC & 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:

 
You must enter a valid number

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 up to €20,000 30 : 1
TopFX Global Ltd 1000 : 1

TopFX Symbols

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