Overall Rating: ★★★☆☆ (3.3/5.0)

TopFX is a CySEC-regulated forex and CFD broker offering access to over 1,000 tradable instruments across forex, indices, commodities, shares, and cryptocurrencies. Founded in 2010, the broker has built a solid reputation in the institutional liquidity space, before later expanding to serve retail traders. With access to cTrader and MetaTrader 4 (MT4), TopFX supports commission-free trading, tight spreads, and deep liquidity via its ECN model. However, offshore structuring for some international clients and a lack of educational depth keep it from being a top-tier retail choice.

This review explores TopFX’s core features, regulatory stance, fee structure, and whether it suits traders in 2025.

Key Features

TopFX offers a flexible trading environment suitable for both institutional and retail clients, with multiple platforms and account options.

• Trading Platforms:
  • MetaTrader 4 (MT4)
  • cTrader
• Markets Offered:
  • Forex, indices, commodities, shares, ETFs, cryptocurrencies
  • Over 1,000+ instruments
• Account Types:
  • Raw Account – ECN pricing with commissions
  • Zero Account – Spread-only, commission-free
• Leverage:
  • Up to 1:30 for EU clients
  • Up to 1:500 for offshore clients (via FSA Seychelles)
• Minimum Deposit:
  • $50
• Funding Methods:
  • Credit/debit cards, bank transfers, Skrill, Neteller, FasaPay, crypto

Regulation and Security

TopFX is regulated in Europe and maintains additional offshore registration to serve global clients.

• CySEC-regulated – [Licence No. 138/11]
• Offshore entity registered under FSA Seychelles
• Segregated client accounts
• Negative balance protection (CySEC clients only)
• No investor compensation for offshore clients

While CySEC provides moderate protection, clients under the Seychelles entity should be aware of lower oversight and reduced legal recourse.

Pricing and Costs

TopFX offers transparent pricing, with options for both commission-based ECN trading and spread-only models.

• Spreads:
  • From 0.0 pips (Raw account)
  • From 1.0 pips (Zero account)
• Commissions:
  • $2.75 per side per lot (Raw account)
• Deposit/Withdrawal Fees:
  • No deposit fees
  • Withdrawal fees may apply for bank transfers
• Inactivity Fee:
  • $10/month after 90 days

Educational Resources and Customer Support

TopFX provides basic educational content, but lacks the depth and structure offered by top brokers.

• Education:
  • MT4/cTrader platform guides
  • Some articles and FAQs
  • No webinars or advanced training series
• Market Analysis:
  • Basic technical commentary and market news
• Customer Support:
  • 24/5 multilingual support
  • Live chat, email, and phone
  • Generally responsive and helpful

Risk Management Tools

Standard tools are available via MT4 and cTrader, but risk protection varies based on regulatory jurisdiction.

• Stop-loss, take-profit, and trailing stop orders
• Margin call alerts and auto-closeout
• No guaranteed stop-loss orders (GSLOs)
• Negative balance protection under CySEC regulation

Pros and Cons

Pros

• CySEC regulation for EU clients
• MT4 and cTrader support
• Institutional-grade liquidity and tight spreads
• Flexible account types
• Low minimum deposit ($50)

Cons

• Limited educational resources
• Offshore structure reduces protection for some clients
• No guaranteed stop-loss
• Inactivity fees apply

Conclusion: Is TopFX the Right Choice?

TopFX is a good option for experienced traders who value tight spreads, fast execution, and platform choice. Its CySEC licence adds a degree of trust, but offshore clients may not benefit from the same level of protection. While it lacks in education and extras, TopFX delivers solid core trading conditions with institutional execution, making it well-suited to cost-sensitive, self-directed traders.