Written by ForexBrokers.com
In this head to head comparison of eToro 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.
eToro and TopFX both offer online brokerage services but differ significantly in trust and regulation. Established in 2007, eToro holds three Tier-1 licenses, which are considered highly trusted by ForexBrokers.com, plus one Tier-2 license. This regulatory strength contributes to eToro's high Trust Score rating of 93 out of 99, indicating it is highly trusted. On the other hand, TopFX, founded in 2010, has one Tier-1 license and no Tier-2 licenses, resulting in a Trust Score rating of 67. This places TopFX in the high-risk category, showing it is less trusted than eToro.
Neither eToro nor TopFX are publicly traded or operate as banks, meaning they don't enjoy the additional oversight and stability such statuses might provide. While both companies aim to deliver quality online brokerage platforms, eToro's higher number of regulatory licenses and superior trust score offer an additional layer of security and reliability for users. This makes it a more appealing choice for traders concerned about regulatory safety and trust.
| Feature |
eToro
|
TopFX
|
|---|---|---|
| Year Founded | 2007 | 2010 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 3 | 1 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
eToro is a market-maker broker that offers a typical variable spread of 1 pip on the EUR/USD, which is slightly higher than the industry average. Many retail traders opt for eToro primarily due to its innovative social copy trading platform, rather than its spreads. The platform provides a VIP membership, known as the eToro Club, with five tiers ranging from Silver to Diamond. These tiers offer various benefits based on account balance, such as access to Trading Central, reduced withdrawal and deposit fees, and a dedicated account manager. Overall, eToro earns a 4.5-star rating for its commissions and fees and ranks 22nd out of 62 brokers according to ForexBrokers.com.
TopFX, on the other hand, offers two account types—ZERO and RAW—on popular platforms like MetaTrader and cTrader. The RAW account is commission-based, charging 2.75 EUR per side (5.50 EUR round turn) for a standard lot and features average spreads of 0.33 pips on the EUR/USD. This results in an all-in cost of around 0.88 pips, which aligns well with the industry average. The ZERO account is commission-free but comes with higher average spreads, about 1.03 pips on the EUR/USD. TopFX receives a 4-star rating for its commissions and fees and is ranked 40th out of 62 brokers in the same category by ForexBrokers.com.
| Feature |
eToro
|
TopFX
|
|---|---|---|
| Minimum Deposit | $50-$10,000 | Depends on payment method |
| Average Spread EUR/USD - Standard | 1 | 1.03 |
| All-in Cost EUR/USD - Active | N/A | 0.88 |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
eToro and TopFX both offer forex trading, available through CFDs or spot contracts, ensuring access to the thriving forex market. eToro impressively surpasses TopFX with its larger array of tradeable symbols, offering 5,461 options compared to TopFX's 655. While TopFX holds an edge in forex pairs with 60 available compared to eToro's 55, eToro stands out by allowing clients to invest in U.S. and international exchanges, providing opportunities to buy shares like Apple and Vodafone directly—features TopFX does not offer.
Both platforms support copy trading, appealing to those interested in following experienced investors, and offer cryptocurrency derivatives. However, eToro distinguishes itself further by allowing the purchase of actual cryptocurrencies, whereas TopFX does not. This broad range and flexibility earn eToro a 5-star rating and a #10 ranking for their range of investments, while TopFX is rated 3.5 stars, ranking at #46 according to ForexBrokers.com. Thus, for investors looking for diverse and expansive investment opportunities, eToro represents a more comprehensive choice.
| Feature |
eToro
|
TopFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 5461 | 655 |
| Forex Pairs (Total) | 55 | 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) | Yes | 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 it comes to trading platforms and tools, eToro and TopFX both offer unique features that cater to different trading needs. eToro provides a proprietary, web-based trading platform that is accessible directly from any browser. However, it lacks a Windows-based desktop platform and support for popular platforms like MetaTrader 4 and 5. Despite this, eToro excels in copy trading and offers a vibrant set of 161 drawing tools for charting, although it does not support direct trading from stock charts. In terms of usability, eToro has a user-friendly interface with six columns available in its watch lists. Notably, eToro offers a free virtual demo account for new traders to practice and is highly rated with 4.5 stars, ranking 8th out of 62 brokers for its trading platforms and tools.
TopFX, on the other hand, shines with its inclusion of a Windows-based desktop trading platform and native support for MetaTrader 4, appealing to traders familiar with this platform. It also features a web-based platform similar to eToro. TopFX supports copy trading, offering flexibility for different trading strategies. Although its charting tools are more limited, with 15 drawing tools, TopFX does allow for direct trading from stock charts, providing a different touchpoint for engaging with the market. Its watch lists include seven columns for customization. Like eToro, TopFX also offers a free virtual demo account but is rated slightly lower with 4 stars and is ranked 44th among 62 brokers for trading platforms and tools.
| Feature |
eToro
|
TopFX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | No | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 104 | 30 |
| Charting - Drawing Tools (Total) | 161 | 15 |
| Charting - Trade From Chart | No | Yes |
| Watchlists - Total Fields | 6 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When it comes to mobile trading apps, both eToro and TopFX cater to iPhone and Android users, offering comprehensive platforms that include stock and forex price alerts. However, eToro takes a slight edge with a unique feature that allows watchlist symbol syncing with a user's online account, something TopFX lacks. In terms of charting capabilities, eToro dramatically outpaces TopFX by providing 104 technical studies, compared to just 30 offered by TopFX. On the flip side, TopFX enables users to draw trendlines on charts, a feature not available on eToro.
While both brokers allow viewing multiple time frames and creating watchlists with real-time quotes, the experience diverges further in chart drawing functionalities. TopFX automatically saves drawings on charts, whereas eToro does not offer this feature. Overall, eToro has a higher user rating, with 4.5 stars compared to TopFX's 4 stars and ranks significantly better at 10th compared to TopFX's 51st position out of 62 brokers, according to ForexBrokers.com. This makes eToro a preferred choice for those who prioritize advanced mobile charting and integrated syncing capabilities.
| Feature |
eToro
|
TopFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 104 | 30 |
| Mobile Charting - Draw Trendlines | No | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | No | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
eToro stands out as a comprehensive platform for market research, boasting features such as daily market commentary and sentiment-based trading tools. Although it does not provide forex news from top-tier sources like Bloomberg and Reuters, it compensates with offerings like Trading Central and TipRanks for in-depth insights. Users also benefit from a detailed economic calendar, making it easier to track global news events. With a high research rating of 4.5 stars and a top 15 ranking by ForexBrokers.com, eToro remains a strong choice for those seeking a blend of advanced tools and informative commentary.
TopFX, in contrast, excels in offering forex news from renowned sources such as Bloomberg, providing users with reliable information. It also supports technical analysis tools from Autochartist, and similar to eToro, it provides Trading Central services and a sentiment-based trading tool. However, it lacks daily market commentary and does not include insights from TipRanks. Despite having a 3-star research rating and a lower ranking at #59 on ForexBrokers.com, TopFX is a suitable option for traders prioritizing trusted news sources and technical analysis utilities.
| Feature |
eToro
|
TopFX
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | No | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | Yes | Yes |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | Yes | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational resources offered by eToro and TopFX for beginners, eToro clearly stands out as the more comprehensive option. eToro provides a wealth of educational materials, including over 10 articles, videos, and archived webinars focused on forex and CFDs. Furthermore, eToro offers online educational webinars monthly, along with a searchable archive of these client webinars. For those new to trading, eToro presents an inviting selection of over 10 beginner-friendly educational videos. Additionally, eToro caters not only to beginners but also to seasoned traders with more than 10 advanced educational videos. For those looking to learn the terminology, eToro includes an investor dictionary with definitions of at least 50 investing terms, making it a well-rounded platform for educational growth.
In contrast, TopFX falls short in its educational offerings for newcomers. It does not meet the minimum requirement of 10 forex and CFDs educational materials, nor does it provide monthly online educational webinars or a searchable archive of past webinars. TopFX also lacks adequate beginner-specific educational video content and advanced trading videos for experienced investors. Moreover, TopFX does not offer an investor dictionary, limiting the learning tools available for those new to investing. These shortcomings are reflected in their ratings, with eToro receiving 4.5 stars for Education and ranking #5 out of 62 brokers, while TopFX only achieves 3 stars and ranks #60.
| Feature |
eToro
|
TopFX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | Yes | 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 eToro is better than TopFX. eToro finished with an overall rank of #9, while TopFX finished with an overall rank of #61.
eToro is a winner for its easy-to-use copy-trading platform, where traders can copy the trades of experienced investors – or receive exclusive perks for sharing their own trading strategies.
| Feature |
eToro
|
TopFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 93 | 67 |
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eToro allows investors to purchase actual cryptocurrencies, while both eToro and TopFX provide options for trading cryptocurrency derivatives.
When comparing eToro and TopFX for online trading, eToro stands out by offering ACH and SEPA transfers for depositing and withdrawing funds, which TopFX does not, while both platforms support PayPal, Skrill, Visa, Mastercard, and bank wire transactions.
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 | eToro | TopFX | |
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| Trust Score | 93 | 67 | |
| Winner | check_circle | ||
| Review | eToro Review | TopFX Review |
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| Regulation | eToro | TopFX | |
|---|---|---|---|
| Trust Score | 93 | 67 | |
| Year Founded | 2007 | 2010 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 3 | 1 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | eToro | TopFX | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | eToro | TopFX | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | eToro | TopFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 5461 | 655 | |
| Forex Pairs (Total) | 55 | 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) | Yes | 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 | eToro | TopFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1 | 1.03 | |
| All-in Cost EUR/USD - Active | N/A | 0.88 | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | eToro | TopFX | |
|---|---|---|---|
| Minimum Deposit | $50-$10,000 | Depends on payment method | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | eToro | TopFX | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | No | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | Yes | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | eToro | TopFX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 6 | 7 | |
| Charting - Indicators / Studies (Total) | 104 | 30 | |
| Charting - Drawing Tools (Total) | 161 | 15 | |
| Charting - Trade From Chart | No | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | eToro | 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 | 104 | 30 | |
| Mobile Charting - Draw Trendlines | No | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | No | Yes | |
| Mobile Economic Calendar | No | Yes |
| Research | eToro | TopFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | No | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | eToro | TopFX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | Yes | 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 | eToro | 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 | eToro Review | TopFX Review |
| Overall | eToro | TopFX | |
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| Trust Score | 93 | 67 | |
| Winner | check_circle | ||
| Review | eToro Review | TopFX Review |
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