Written by ForexBrokers.com
In this head to head comparison of CMC Markets vs TopFX, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 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.
CMC Markets, established in 1989, is a well-trusted online broker. It holds a high Trust Score of 99 out of 99, as rated by ForexBrokers.com, indicating it is regarded as highly trustworthy. CMC Markets is publicly traded, adding another layer of transparency, and is licensed by five top-tier regulatory agencies. This strong regulatory framework offers potential investors and traders significant peace of mind, despite the fact that it is not a bank.
On the other hand, TopFX, founded in 2010, operates with a more moderate profile. It boasts a Trust Score of 67, suggesting a high-risk rating according to ForexBrokers.com. Unlike CMC Markets, TopFX is not listed on a stock exchange, operating instead as a private entity. It maintains only one top-tier license with no additional mid-level licenses, potentially raising concerns for those who prioritize regulatory backing and public accountability. Both brokers are not affiliated with any banking establishments, but the difference in their regulatory standings and trust scores provides a clear choice for those seeking a secure trading environment.
| Feature |
CMC Markets
|
TopFX
|
|---|---|---|
| Year Founded | 1989 | 2010 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 5 | 1 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
When comparing the commissions and fees of CMC Markets and TopFX, CMC Markets stands out for its consistently low spreads and innovative pricing structures. With a 5-star rating and a ranking of #1 out of 62 brokers in ForexBrokers.com's 2025 Annual Awards, CMC Markets offers competitive pricing with average spreads of 0.61 pips on the EUR/USD. Their Price Plus Scheme and FX Active programs provide discounts and low all-in costs, respectively, making them appealing choices for both regular and active traders.
On the other hand, TopFX caters to traders with two distinctive accounts: the spread-only ZERO account and the commission-based RAW account. The RAW account charges a commission of 2.75 EUR per side, leading to an average all-in cost of about 0.88 pips for the EUR/USD, aligning with industry standards. Meanwhile, their ZERO account is commission-free but comes with higher spreads averaging 1.03 pips. Recognized with a 4-star rating and placed #40 in ForexBrokers.com's rankings, TopFX provides two varied pricing models to suit different trader preferences.
In summary, while both CMC Markets and TopFX offer competitive pricing, CMC Markets takes the lead with its low spreads and innovative cost-saving schemes, making it a more attractive option for traders seeking value. TopFX remains a solid choice with its flexible account types, although its overall rating and ranking suggest it slightly trails behind CMC Markets in terms of cost-effectiveness.
| Feature |
CMC Markets
|
TopFX
|
|---|---|---|
| Minimum Deposit | $0 | Depends on payment method |
| Average Spread EUR/USD - Standard | 0.61 | 1.03 |
| All-in Cost EUR/USD - Active | 0.51 | 0.88 |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
CMC Markets and TopFX are both platforms that cater to forex traders seeking CFDs or spot contracts. However, when it comes to the breadth of investment opportunities, they differ significantly. CMC Markets provides access to 11,925 tradeable symbols and offers 156 forex pairs, a substantial variety compared to TopFX's 655 symbols and 60 forex pairs. While both platforms support cryptocurrency derivatives, neither allows for the purchase of actual cryptocurrencies. CMC Markets clearly has an edge in offering investments in exchange-traded securities from both U.S. and international exchanges, enabling clients to purchase shares like Apple and Vodafone which is not available with TopFX.
Both CMC Markets and TopFX support copy trading, allowing clients to follow experienced traders. When assessed for their range of investments, CMC Markets earns an impressive five-star rating, ranking 9th among 62 brokers on ForexBrokers.com. In contrast, TopFX holds a 3.5-star rating and is ranked 46th in the same category. This comprehensive array of offerings makes CMC Markets the preferred choice for investors looking for diverse investment options beyond currency trading.
| Feature |
CMC Markets
|
TopFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 11925 | 655 |
| Forex Pairs (Total) | 156 | 60 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | Yes | Yes |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
Dive deeper: Best Copy Trading Platforms.
When comparing CMC Markets and TopFX based on their trading platforms and tools, both brokers offer free virtual demo accounts, allowing traders to practice trading without financial risk. CMC Markets stands out with its proprietary trading platform, while TopFX does not have one developed in-house. Both brokers provide Windows-based desktop platforms and web-based trading options, as well as support for MetaTrader 4. However, CMC Markets extends its platform offering with MetaTrader 5, which TopFX does not support. Additionally, both brokers provide copy trading options but neither offers DupliTrade or ZuluTrade services.
When it comes to charting, CMC Markets provides traders with a substantial advantage by offering 40 drawing tools compared to TopFX's 15. CMC Markets also supports trading directly from the stock chart, which TopFX also offers, demonstrating their user-friendly approach. In terms of watch lists, CMC Markets provides more customization with 11 columns compared to TopFX's 7. Consequently, CMC Markets earns a top-notch rating of 5 stars for trading platforms and tools, while TopFX receives a respectable 4 stars. According to ForexBrokers.com, CMC Markets ranks 4th out of 62 brokers, showcasing its strengths in this area, whereas TopFX comes in at 44th.
| Feature |
CMC Markets
|
TopFX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 79 | 30 |
| Charting - Drawing Tools (Total) | 40 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 11 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both CMC Markets and TopFX provide comprehensive mobile trading solutions available on iPhone and Android devices. Traders using either app can enjoy features such as stock and forex price alerts, the ability to draw trendlines on charts, and the option to view multiple time frames. However, CMC Markets stands out by offering seamless watchlist symbol syncing, allowing users to sync changes made across the mobile app and online account, a feature TopFX currently lacks. While both apps offer a similar number of technical studies for charting (CMC Markets with 29 and TopFX with 30), CMC Markets earns a higher rating of 5 stars compared to TopFX's 4 stars.
Automated saving of chart drawings and watchlist creation with real-time quotes is standard with both CMC Markets and TopFX mobile apps. Despite these similarities, CMC Markets holds a higher industry ranking, positioned as the 5th best out of 62 brokers in the Mobile Trading Apps category by ForexBrokers.com. In contrast, TopFX sits at 51st place, highlighting CMC Markets' superior reputation for mobile trading. Whether you're an experienced trader or new to the market, these distinctions could significantly influence your choice of mobile trading platform.
| Feature |
CMC Markets
|
TopFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 29 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
CMC Markets stands out as a comprehensive choice for traders who prioritize market research. With daily market commentary and forex news sourced from top-tier outlets like Bloomberg and Reuters, it provides continuous insights into market movements. CMC Markets also equips traders with Autochartist tools for technical and fundamental analysis and a sentiment-based trading tool to gauge market positions on currency pairs. Additionally, its economic calendar helps users keep track of important global news events. Despite lacking resources from Trading Central or TipRanks, it ranks impressively high with a five-star research rating and a #6 position among 62 brokers.
On the other hand, TopFX offers a solid range of research tools, including forex news from premier sources and analytic tools from both Autochartist and Trading Central. Like CMC Markets, it provides a sentiment-based trading tool and an economic calendar, ensuring users have access to crucial market information. However, TopFX does not offer daily market commentary or resources from TipRanks or Acuity Trading, which may contribute to its lower three-star research rating and #59 ranking on ForexBrokers.com. For traders seeking enhanced research capabilities, CMC Markets may offer a more rounded experience.
| Feature |
CMC Markets
|
TopFX
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing educational resources for beginners, CMC Markets clearly stands out above TopFX. CMC Markets offers a comprehensive array of educational materials, including more than ten pieces dedicated to forex and CFDs. Their user-friendly, searchable archive of previously recorded client webinars enhances accessibility, along with ten beginner-focused videos covering essential trading concepts. Beginners looking to deepen their understanding of trading will also appreciate CMC Markets' advanced educational video series and a detailed investor dictionary featuring over 50 crucial investing terms. The commitment to education is reflected in their impressive 5-star rating and a strong 10th place ranking from ForexBrokers.com.
In contrast, TopFX falls short in providing educational resources for beginners. They do not meet the minimum standard of offering ten educational pieces on forex or CFDs and lack a searchable webinar archive. Furthermore, they do not provide beginner or advanced educational videos, which can be a significant drawback for those new to trading. Without an investor dictionary to support learning key terms, beginners may find it challenging to navigate their platform. This lack of resources contributes to TopFX receiving a 3-star education rating and ranking 60th among 62 brokers for education on ForexBrokers.com.
| Feature |
CMC Markets
|
TopFX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | No | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | Yes | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that CMC Markets is better than TopFX. CMC Markets finished with an overall rank of #4, while TopFX finished with an overall rank of #61.
CMC Markets is well-trusted across the globe, and delivers a terrific trading experience thanks to its excellent pricing and selection of over 12,000 tradeable instruments.
| Feature |
CMC Markets
|
TopFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 67 |
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CMC Markets and TopFX both allow the purchase of cryptocurrency derivatives, though neither provides the option to buy actual delivered cryptocurrencies.
Comparing online brokers CMC Markets and TopFX reveals that both offer PayPal, Visa, Mastercard, and bank wire options for depositing and withdrawing funds, but CMC Markets uniquely provides ACH and SEPA transfers, while TopFX supports Skrill instead.
Please note:
We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.
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0 of 5| Overall Rating | CMC Markets | TopFX | |
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| Trust Score | 99 | 67 | |
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| Review | CMC Markets Review | TopFX Review |
| Broker Screenshots | CMC Markets | TopFX | |
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| Regulation | CMC Markets | TopFX | |
|---|---|---|---|
| Trust Score | 99 | 67 | |
| Year Founded | 1989 | 2010 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 5 | 1 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | CMC Markets | TopFX | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | CMC Markets | TopFX | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | CMC Markets | TopFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 11925 | 655 | |
| Forex Pairs (Total) | 156 | 60 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | Yes | Yes | |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
| Cost | CMC Markets | TopFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.61 | 1.03 | |
| All-in Cost EUR/USD - Active | 0.51 | 0.88 | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | CMC Markets | TopFX | |
|---|---|---|---|
| Minimum Deposit | $0 | Depends on payment method | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | CMC Markets | TopFX | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | No | Yes | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | CMC Markets | TopFX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 11 | 7 | |
| Charting - Indicators / Studies (Total) | 79 | 30 | |
| Charting - Drawing Tools (Total) | 40 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | CMC Markets | TopFX | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 29 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | CMC Markets | TopFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | CMC Markets | TopFX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | No | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | CMC Markets | TopFX | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| Review | CMC Markets Review | TopFX Review |
| Overall | CMC Markets | TopFX | |
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| Trust Score | 99 | 67 | |
| Winner | check_circle | ||
| Review | CMC Markets Review | TopFX Review |
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