While this aligns with industry standards, traders should always exercise caution to avoid over-leveraging, particularly in volatile markets. Spreads are a fundamental part of trading costs, and at TopFX, they vary depending on the instrument. These differences are directly related to the liquidity and volatility of the traded assets.
The amount you’ll need to deposit depends on which account type you choose. Trust Scores range from 1 to 99 (the higher a broker’s rating, the better). TopFX offers a range of Share CFDs, allowing traders to speculate on the price movements of individual stocks without owning the underlying assets.
What regulatory body oversees TopFX?
At ForexBrokers.com, our online broker reviews are based on our collected quantitative data as well as the observations and qualified opinions of our expert researchers. Each year we publish tens of thousands of words of research on the top forex brokers and monitor dozens of international regulator agencies (read more about how we calculate Trust Score here). TopFX has built a good foundation for its platform offering by making both MT4 and cTrader available. It offers a decent variety of instruments, with 655 symbols and 60 forex pairs. The variety, especially local payment systems, is a significant strength, providing convenience in specific regions.
MyCard – Contactless Payment
- The VIP Account provides spreads starting from 0.0 pips and charges a reduced commission of $1.50 per side per lot.
- The variety, especially local payment systems, is a significant strength, providing convenience in specific regions.
- Ability to share and promote your trading performance via such reputable online services as MyFXBook and FxBlue (former MT4i).
- This includes major, minor, and exotic pairs, catering to a wide range of Forex traders.
However, we feel that traders who are new to these tools might need some time to familiarize themselves with their features and functionalities. More in-depth tutorials or live demonstrations on effectively using these tools could increase their overall value. The Forex market is a core part of TopFX’s offering, with over 60 currency pairs available. This includes major, minor, and exotic pairs, catering to a wide range of Forex traders.
TopFX offers CFDs on 18 iShares ETFs, providing exposure to various sectors and markets. ETFs can be a valuable tool for portfolio diversification and allow traders to gain broad market exposure with a single trade. Leverage is available on cryptocurrency CFDs, but due to the inherent volatility of these assets, the leverage offered is typically lower compared to other asset classes. TopFX offers over 20 Cryptocurrency CFD pairs, enabling traders to speculate on the price movements of major cryptocurrencies like Bitcoin, Ethereum, Litecoin, and Ripple.
Client Fund Segregation and Safety
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Card Payments (Mastercard, Visa, Apple Pay, Google Pay)
Instant processing is a significant advantage, although fees after the second withdrawal can be as high as 4.5%. TopFX also provides detailed reports so you can see what’s happening with your copied trades, and you can even manage your copy trading from your phone with the TopFX cTrader mobile app. The ability to replicate the trades of successful traders has opened up the trading world to many.
The cashback is credited directly to the trading account and can be utilized for further trading or withdrawn at your convenience. The simplicity of this program and its direct correlation with trading volume make it an attractive option for active traders who value cost efficiency. TopFX keeps client funds in third-party banks to add an extra layer of security. TopFX conducts regular audits to identify and address potential system vulnerabilities. This is a proactive approach that we value, as it demonstrates the broker’s commitment to staying ahead of potential security threats. TopFX’s data protection measures align with what we expect from a broker who takes security seriously.
- This software program is potentially malicious or may contain unwanted bundled software.
- The cashback rebate is credited directly to the trading account and can be used for further trading or withdrawn at any time.
- The Raw Account features spreads starting from 0.0 pips and incurs a commission of $2.75 per side per lot.
- Profits generated from the bonus can be withdrawn only after meeting specific trading volume requirements.
Data Not Linked to You
Our ratings, rankings, and opinions are entirely our own, and the result of our extensive research and decades of collective experience covering the forex industry. The tightest spreads are found in major Forex pairs due to their high liquidity. This is a positive aspect of TopFX, especially in the Raw account, where spreads can be as low as 0.0 pips. TopFX has put thought into its pricing and trading conditions, aiming to cater to a broad range of traders. However, the effectiveness of their offerings ultimately depends on how well they align with your specific needs. Both Autochartist and Trading Central are powerful tools that can enhance trading decisions.
Negative Balance Protection and Other Safeguards
Finally, publishing its average spread data each month would highlight the true value of its pricing across its two main account types. This enables brokers to manage their client base efficiently and provide a high level of service. Compared to other brokers, TopFX’s risk management features are in line with industry standards. Some competitors do offer additional risk management tools, though, like the ability to set maximum drawdown limits or customize risk profiles. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses.
CTrader provides detailed market depth, giving you insight into liquidity at different price levels. Still, the level of detail may not be as comprehensive as some specialized platforms designed for institutional-level analysis. TopFX’s IB Program is designed to provide competitive and flexible topfx ctrader ways to earn by referring clients.
The platform is intuitive and has features that help you navigate copy trading. TopFX emphasizes transparency in its Islamic account, allowing traders to trade confidently, knowing their activities align with their religious beliefs. Detailed insights into campaign performance help refine your marketing strategies and improve results over time. This program’s effectiveness comes from its easy integration into your workflow. The tracking and reporting system is solid, letting you monitor your performance without hassle.