Written by ForexBrokers.com
In this head to head comparison of FP 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.
FP Markets, established in 2005, is an online broker that holds two Tier-1 licenses and one Tier-2 license, indicating a strong level of regulatory compliance. Although it is not publicly traded or a bank, FP Markets has achieved a Trust Score of 89 out of 99, placing it in the "trusted" category according to ForexBrokers.com. This high level of trustworthiness is further supported by its multiple high-quality licenses, offering clients peace of mind when trading.
TopFX, founded in 2010, is another online broker in the market, holding one Tier-1 license. Like FP Markets, it is neither publicly traded nor a bank. However, TopFX's Trust Score of 67 suggests a higher risk level relative to many competitors. Primarily due to its single Tier-1 regulatory license, its Trust Score places it in the "high risk" category, which might warrant consideration for traders seeking a brokerage with less regulatory assurance.
| Feature |
FP Markets
|
TopFX
|
|---|---|---|
| Year Founded | 2005 | 2010 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 1 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
When considering the costs associated with trading, FP Markets stands out with its competitive pricing, particularly for its ECN account offerings on platforms like MetaTrader and cTrader. It boasts low spreads, especially the Raw ECN account, with an average spread of 0.1 pips, combining commission and spread to reach around 0.8 pips. For those who opt for the Standard account, expect moderately higher costs with spreads averaging 1.1 pips for popular pairs like the EUR/USD. FP Markets' Iress suite provides options tailored for high-balance traders, although these accounts come with higher minimum deposits and additional fees unless certain conditions are met. Due to its excellent pricing model, FP Markets received a prestigious ranking of 6th out of 62 brokers and was also awarded Best in Class for Commissions and Fees in the 2024 Annual Awards, earning a 5-star rating.
TopFX offers two main account types: the spread-only ZERO account and the commission-based RAW account. For the RAW account, a competitive commission of 2.75 EUR per side is applied, which equals 5.50 EUR round turn per standard lot. This account boasts an average spread of 0.33 pips, with an all-in cost of around 0.88 pips for EUR/USD trades, making it cost-effective within industry standards. The ZERO account, while commission-free, has higher average spreads of about 1.03 pips. This positions TopFX align with typical market offerings, earning it a 4-star rating and placing it at the 40th rank compared to 62 brokers in the commissions and fees category.
Overall, when comparing FP Markets and TopFX, FP Markets seems to offer a more competitive edge in terms of trading costs, particularly for those interested in ECN accounts and DMA through the Iress platform. However, traders should consider their specific trading needs, account type, and deposit criteria when choosing between these brokers.
| Feature |
FP Markets
|
TopFX
|
|---|---|---|
| Minimum Deposit | $100 AUD | Depends on payment method |
| Average Spread EUR/USD - Standard | 1.2 | 1.03 |
| All-in Cost EUR/USD - Active | 0.7 | 0.88 |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | No | 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.
FP Markets and TopFX both provide forex trading through CFDs or spot contracts, catering to traders interested in currency exchange. However, FP Markets clearly outshines TopFX in terms of the sheer variety of symbols offered, boasting an impressive 10,000 tradeable symbols compared to TopFX's 655. When it comes to forex pairs, FP Markets again holds the upper hand with 71 pairs available, while TopFX offers access to 60 pairs. Despite these differences, neither broker provides options for purchasing exchange-traded securities from U.S. or international exchanges directly.
For those interested in cryptocurrency, both brokers allow trading in crypto derivatives, though not in actual, delivered cryptocurrencies. Additionally, FP Markets and TopFX offer copy trading features, allowing users to replicate the trades of successful investors. This range of investment options is reflected in FP Markets receiving a higher rating of 4.5 stars for its breadth of offerings, compared to the 3.5 stars earned by TopFX. FP Markets' superior variety is also underscored by its better ranking of 18th among 62 brokers in the Range of Investments category, while TopFX ranks at 46th in the same category.
| Feature |
FP Markets
|
TopFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 10000 | 655 |
| Forex Pairs (Total) | 71 | 60 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | 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 FP Markets and TopFX for their trading platforms and tools, both brokers offer several features appealing to traders. FP Markets provides a proprietary platform developed in-house, whereas TopFX does not have a proprietary platform. However, both brokers offer widely-used MetaTrader 4 (MT4) platforms and have web-based and Windows-based desktop options available. FP Markets also supports MetaTrader 5 (MT5), giving it a slight edge in platform versatility. Additionally, both brokers offer simulated trading through free virtual demo accounts and copy trading features, making them attractive to those wanting to practice or share strategies.
Regarding charting tools, FP Markets offers 17 drawing tools, slightly more than TopFX's 15. Both brokers enable trading directly from stock charts and provide similar features for watch lists, with seven columns available for customization. Despite these similarities, FP Markets ranks higher for trading platforms and tools according to ForexBrokers.com, coming in at #23 compared to TopFX's #44. Overall, both brokers receive a solid rating of 4 out of 5 stars, indicating a well-rounded offering in terms of trading platforms and tools for traders of various levels.
| Feature |
FP 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) | 30 | 30 |
| Charting - Drawing Tools (Total) | 17 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of FP Markets and TopFX, both platforms cater to iPhone and Android users, allowing easy access to trade on the go. They each provide price alerts for stock and forex markets, ensuring traders stay informed about their investments. While both apps facilitate the creation of watchlists with real-time quotes, neither currently supports watchlist symbol syncing across devices, which means changes won't automatically update between their mobile app and online accounts.
FP Markets offers the MetaTrader default technical studies for charting, whereas TopFX provides 30 technical studies, offering more variety for analyzing trends. Both apps enable users to draw trendlines and view different time frames on charts, with the added convenience of auto-saving these drawings. FP Markets receives a slightly higher accolade in industry rankings, placing 18th among 62 brokers compared to TopFX's 51st position, but both receive an equal rating of four stars for their mobile trading offerings.
| Feature |
FP Markets
|
TopFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | MetaTrader (Default) | 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.
When it comes to market research capabilities, FP Markets and TopFX offer a range of tools and resources, but there are noticeable differences in their offerings. FP Markets provides daily market commentary that can help traders stay informed on the latest developments, an area where TopFX does not compete. Both brokers offer forex news sourced from top-tier institutions like Bloomberg and Reuters. They also include tools from Autochartist and Trading Central, enabling traders to engage in both technical and fundamental analysis. Additionally, sentiment-based trading tools are available at both companies, offering insights into trading positions across various instruments. Neither broker, however, offers market research from TipRanks or tools from Acuity Trading.
FP Markets edges out TopFX by including a daily economic calendar, which displays significant global news events, enhancing the trader's ability to anticipate market movements. Thanks to these comprehensive offerings, FP Markets earns a solid 4-star rating for research, whereas TopFX receives a 3-star rating. This rating is reflected in their rankings by ForexBrokers.com, where FP Markets stands at #25 out of 62 brokers in the research category, while TopFX is rated lower, at #59. Overall, FP Markets tends to offer a more complete set of research tools, making it a more attractive choice for those who prioritize market analysis.
| Feature |
FP Markets
|
TopFX
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | Yes | 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.
FP Markets stands out as a leading choice for beginners seeking comprehensive educational resources in forex and CFDs trading. The broker offers an impressive array of over 10 educational pieces, which include articles, videos, and webinars that are easily accessible. Further enhancing its educational offerings, FP Markets conducts monthly webinars and provides a searchable archive of these sessions for client review. Beginners are particularly catered to with more than 10 educational videos focusing on foundational trading topics, alongside 10 advanced videos for experienced traders. Additionally, FP Markets supports learning with an investor dictionary containing over 50 investing terms, gaining a commendable 4-star rating for education and ranking #23 out of 62 brokers on ForexBrokers.com.
In contrast, TopFX provides a more limited educational experience, lacking the depth and breadth found at FP Markets. TopFX does not meet the benchmark of offering 10 educational pieces focused primarily on forex or CFDs. The absence of regular webinars, both live and archived, and a lack of beginner or advanced educational videos place TopFX behind, especially for novices wanting to deepen their trading knowledge. Without an investor dictionary, clients may find it challenging to familiarize themselves with critical trading terms. Consequently, TopFX earns a 3-star rating in education and ranks near the bottom at #60 out of 62 brokers on ForexBrokers.com.
| Feature |
FP Markets
|
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 FP Markets is better than TopFX. FP Markets finished with an overall rank of #19, while TopFX finished with an overall rank of #61.
FP Markets shines as a low-cost broker for trading forex and CFDs – as long as you use the MetaTrader platform. The Iress platform suite offers well over 9,000 tradeable symbols, but it’s mostly a share trading platform – and is generally a much pricier option.
| Feature |
FP Markets
|
TopFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 89 | 67 |
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Both FP Markets and TopFX allow users to invest in cryptocurrency derivatives but do not offer options for purchasing actual (delivered) cryptocurrencies.
Both FP Markets and TopFX offer PayPal, Skrill, Visa or Mastercard, and bank wires as options for depositing or withdrawing account funds, but neither supports ACH or SEPA transfers.
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 | FP Markets | TopFX | |
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| Trust Score | 89 | 67 | |
| Winner | check_circle | ||
| Review | FP Markets Review | TopFX Review |
| Broker Screenshots | FP Markets | TopFX | |
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| Regulation | FP Markets | TopFX | |
|---|---|---|---|
| Trust Score | 89 | 67 | |
| Year Founded | 2005 | 2010 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 2 | 1 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | FP Markets | 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) | No | 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) | FP Markets | TopFX | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | FP Markets | TopFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 10000 | 655 | |
| Forex Pairs (Total) | 71 | 60 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | 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 | FP Markets | TopFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.2 | 1.03 | |
| All-in Cost EUR/USD - Active | 0.7 | 0.88 | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | FP Markets | TopFX | |
|---|---|---|---|
| Minimum Deposit | $100 AUD | 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 | No | No |
| Trading Platforms | FP 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 | Yes | Yes | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | FP Markets | TopFX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 7 | |
| Charting - Indicators / Studies (Total) | 30 | 30 | |
| Charting - Drawing Tools (Total) | 17 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | FP Markets | TopFX | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | MetaTrader (Default) | 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 | FP Markets | TopFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | FP Markets | 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 | FP 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 | FP Markets Review | TopFX Review |
| Overall | FP Markets | TopFX | |
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| Trust Score | 89 | 67 | |
| Winner | check_circle | ||
| Review | FP Markets Review | TopFX Review |
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