CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

TopForex

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Home » Reviews » TopForex

TopForex Review

TopForex is a broker that provides forex trading services. They provide traders with access to a wide range of assets in a number of markets, such as currencies, indexes, and stocks. They provide a variety of energy, metals, and agriculturals to commodities dealers.

Pros

  • Established in 2009
  • Regulated by CySEC
  • Segregates client funds
  • Min. deposit from $100

Cons

A minimum deposit of $100 is required to establish a live account. Alternatively, TopForex provides a demo account that you may use to experiment and become acquainted with their website.

Regulated by CySEC (Licence: 242/14), TopForex keeps all customer funds in a separate bank account and works with tier-1 banks to do so. TopForex has been in business since 2009, with headquarters in Cyprus.

Before we get into the specifics of TopForex’s spreads, fees, platforms, and trading tools, you may want to open their website in a new tab by clicking the button below to get the most up-to-date information directly from them.

VISIT TOPFOREX

Full disclosure: If you join a broker through one of our links, we may get a commission.

What are TopForex’s spreads & fees?

TopForex, like most brokers, charges a fee based on the spread, which is the difference between the buy and sell price of an item.

The commissions and spreads shown here are based on the TopForex website’s minimum spreads.

ForexTopForexCity IndexXTB
EUR/USD(Average: 0.7 pips)3 pips0.7 pips0.1 pips
GBP/USD(Average: 1.1 pips)3 pips1.7 pips0.1 pips
USD/JPY(Average: 1.1 pips)3 pips0.6 pips0.1 pips
AUD/USD(Average: 0.8 pips)4 pips0.6 pips0.2 pips
USD/CHF(Average: 2.3 pips)3.5 pips2.3 pips0.2 pips
USD/CAD(Average: 2.9 pips)4 pips0.5 pips0.3 pips
NZD/USD(Average: 3.6 pips)4 pips2.8 pips0.3 pips
EUR/GBP(Average: 2.4 pips)4 pips0.5 pips0.1 pips

Spreads are changeable and are provided solely for informational reasons.

TopForex’s minimum spread for trading EUR/USD is 3 pips, which is quite low when compared to the average EUR/USD spread of 0.70 pips. The table below compares the costs of trading one lot of EUR/USD with TopForex and other brokers.

SEE ALL SPREADS

How much does it cost to trade 1 lot of EUR/USD with TopForex?

If you bought one standard lot of EUR/USD (100,000 units) with TopForex at an exchange rate of 1.1719 and sold it the next day at the same price, you would most likely pay $36. Here is a general breakdown of the fees and how they compare to IG and XTB.

TopForexIGXTB
Spread from:$ 30.00$ 6.00$ 2.00
Commission:$0.00$0.00$0.00
Total cost of a 100k trade:$ 30.00$ 6.00$ 2.00
$24 less$28 less
VISIT TOPFOREXVISIT IGVISIT XTB

All fees/prices are for informational purposes and are subject to change.

TopForex allows you to trade a variety of instruments.

TopForex provides over various trading instruments, including over currency pairings. We’ve described all of TopForex’s numerous types of instruments below, along with IG and XTB’s instruments for comparison.

FX / CurrenciesTopForexIGXTB
# of forex pairs offered9048
Major forex pairsYesYesYes
Minor forex pairsYesYes
Exotic forex pairsYesYes
Cryptocurrencies*NoYesYes
Commodity CFDsTopForexIGXTB
# of commodities offered3421
MetalsYesYesYes
EnergiesYesYesYes
AgriculturalYesYesYes
Index & Stock CFDsTopForexIGXTB
# of stocks offered80001606
UK sharesYesYesYes
US sharesYesYesYes
German sharesYesYesYes
Japanese sharesYesYesYes
SEE TOPFOREX’S INSTRUMENTSSEE IG’S INSTRUMENTSSEE XTB’S INSTRUMENTS

Visit TopForex

What’s the TopForex trading experience like?

1) Platforms and apps

TopForex provides the well-known MT4 forex trading platform. See our MT4 broker comparison for a list of the best MT4 brokers. They also provide their own Xstation platform.

They now have mobile apps for Android and iOS, making it simpler to monitor and execute transactions while on the go.

SEE TOPFOREX’S PLATFORMS

Still unsure?

Open a practice account and begin learning to trade.

2) Executing Trades

TopForex trading platform allows you to trade with size from as little as 0.01 lot. This may differ based on the type of account you create. The maximum trading size depends on the trader and the instrument.

TopForex may have lower entrance criteria as a market maker than ECN brokers, which benefit from bigger volume of transactions and usually have higher capital and minimum trading requirements. Market makers generally have a lower minimum deposit, lower minimum trade requirements, and no trading commission.

Margin requirements depend on the trader, account, and instrument. The most recent margin requirements can be seen on their website.

Finally, we’ve included a summary of some of the popular funding methods that TopForex offers its traders.

Trading Features:

  • Low min deposit

Accounts offered:

  • Demo account

Funding methods:

  • Credit cards
  • Skrill

3) Client support

English, French, Italian, Hungarian, Greek, Slovak, Serbian, Dutch, Spanish, Romanian, Russian, Polish, Slovenian, Czech, Bulgarian, Arabic, and Mandarin are among the languages supported by TopForex.

4) What you’ll need to open an account with TopForex

Because TopForex is regulated by CySEC, every new customer must pass a few simple compliance tests to confirm that you know the implications of trading and that you are permitted to trade. When you establish an account, you will most likely be asked for the following information, so keep it handy:

  • A utility bill or bank statement from the past three months showing your address
  • A scanned colour copy of your passport, driving license or national ID

You’ll also have to complete a few basic compliance inquiries to prove your trading expertise, so allow at least 10 minutes to finish the account opening procedure.

While you may be able to access their platform immediately, it is crucial to know that you will not be able to place any trades until you pass compliance, which might take several days depending on your circumstances.

To begin the process of creating an account with TopForex, go to their website.

TopForex

Open a demo account

79% of retail investor accounts lose money when trading CFDs with this provider.

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What are you looking for in a broker?

Select the ‘must-have’ features or requirements that are important to you

Mobile Trading

Trade on Margin

Direct Market Access

Offers US Stocks

Accept Paypal

Offers UK Stocks

Offers MT4

Allows Scalping

Copy Trading

Accepts Credit Card

Allows Hedging

ECN or STP Execution

Offers Altcoins

Offers Crypto Crosses

Fixed Spreads

Variable Spreads

Offers Demo Account

Professional Status

VPS Trading

Zero Spread Account

Mobile Trading

Trade on Margin

Direct Market Access

Offers US Stocks

Accept Paypal

Offers UK Stocks

Offers MT4

Allows Scalping

Copy Trading

Accepts Credit Card

Allows Hedging

ECN or STP Execution

Offers Altcoins

Offers Crypto Crosses

Fixed Spreads

Variable Spreads

Offers Demo Account

Professional Status

BIGINNER

VPS Trading

Zero Spread Account

How experienced are you at trading?

Select the ‘must-have’ features or requirements that are important to you

beginner

Intermediate

EXPERT