Written by ForexBrokers.com
In this head to head comparison of FXOpen 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.
FXOpen, established in 2003, boasts a solid reputation in the online brokerage landscape with a ForexBrokers.com Trust Score of 76, indicating an average risk level. Although not publicly traded or a bank, FXOpen holds two Tier-1 licenses, which signifies a high level of trust in regulatory terms. These licenses assure clients of a more secure environment for trading activities, aligning with the broker's commitment to maintaining transparency and reliability.
Founded in 2010, TopFX achieves a ForexBrokers.com Trust Score of 67, placing it in the high-risk category. While it shares similarities with FXOpen in not being publicly traded or functioning as a bank, TopFX holds one Tier-1 license. This demonstrates a significant yet lesser degree of trusted regulatory oversight in comparison to FXOpen. Both brokers offer unique experiences, but FXOpen's additional Tier-1 license provides potential customers with an added layer of confidence in their trading journey.
| Feature |
FXOpen
|
TopFX
|
|---|---|---|
| Year Founded | 2003 | 2010 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 1 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
When comparing the commissions and fees of online brokers FXOpen and TopFX, both receive a solid rating of 4 out of 5 stars. According to ForexBrokers.com, FXOpen ranks at #45 while TopFX comes in slightly higher at #40 in the Commissions and Fees category among 62 brokers, indicating a competitive but modest edge for TopFX.
FXOpen provides traders with a positive fee structure although specific average spread data is unavailable, which might make direct comparisons challenging without further details.
TopFX offers a choice between two account types, both accessible through MetaTrader and cTrader platforms. The ZERO account is commission-free but has an average spread of 1.03 pips on the EUR/USD as of July 2024. In contrast, their RAW account is commission-based, charging 2.75 EUR per side, with all-in costs roughly aligning with the industry average at 0.88 pips for the EUR/USD when including a spread of 0.33 pips and commission of 0.55 pips. This diverse account offering allows traders to select the fit that best matches their trading style and budget.
| Feature |
FXOpen
|
TopFX
|
|---|---|---|
| Minimum Deposit | $100 | Depends on payment method |
| Average Spread EUR/USD - Standard | N/A | 1.03 |
| All-in Cost EUR/USD - Active | N/A | 0.88 |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | No | 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.
When comparing the range of investments offered by FXOpen and TopFX, both brokers provide forex trading options as CFDs or spot contracts. However, TopFX impresses with a significantly larger selection of tradeable symbols, offering 655 compared to FXOpen’s 87. In terms of forex pairs, TopFX again leads with 60 pairs against FXOpen’s 25. Neither FXOpen nor TopFX allows trading in exchange-traded securities on U.S. or international exchanges, meaning you won't be able to directly purchase stocks like Apple or Vodafone from either broker.
Both brokers support copy trading, enabling users to mimic the trades of more experienced traders. However, neither platform allows the purchase of actual cryptocurrencies, focusing instead on cryptocurrency derivatives. In terms of investment range ratings, FXOpen scores 3 stars, while TopFX just edges it with 3.5 stars. According to ForexBrokers.com, FXOpen’s range of investments ranks 61st out of 62 brokers, whereas TopFX ranks slightly better at 46th. This suggests a slightly broader offering with TopFX, although both have their specific niches.
| Feature |
FXOpen
|
TopFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 87 | 655 |
| Forex Pairs (Total) | 25 | 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). |
Dive deeper: Best Copy Trading Platforms.
When comparing trading platforms and tools, both FXOpen and TopFX offer several options to meet traders' needs. Both brokers provide access to a virtual demo account, allowing users to simulate trading without any risks. Neither FXOpen nor TopFX has developed in-house trading software; instead, they offer popular platforms like MetaTrader 4 (MT4). Though FXOpen goes a step further by also supporting MetaTrader 5 (MT5), TopFX does not offer this option. Additionally, both platforms are available as Windows desktop downloads and accessible through web browsers, providing convenience for traders on various devices. When it comes to copy trading, both brokers support this, but FXOpen provides an advantage with the availability of ZuluTrade, whereas TopFX does not.
For charting tools, both FXOpen and TopFX offer 15 drawing tools, along with the ability to trade directly from stock charts. Their watch lists are equally robust, with seven fields available for traders to track their favorite instruments. Despite their similarities, differences in supported platforms such as MT5 and ZuluTrade availability may influence a trader's choice between the two. It’s worth noting that both brokers are rated at four stars for their trading platforms and tools. However, TopFX ranks slightly higher at #44 compared to FXOpen's #53 in ForexBrokers.com's list of 62 brokers, suggesting marginal differences in trader satisfaction or offerings.
| Feature |
FXOpen
|
TopFX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | No | 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 | Yes | No |
| Charting - Indicators / Studies (Total) | 30 | 30 |
| Charting - Drawing Tools (Total) | 15 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both FXOpen and TopFX have developed mobile trading apps compatible with iPhone and Android devices. Each app allows users to receive stock or forex price alerts and supports the creation of watchlists with real-time quotes. However, neither app syncs watchlists with the online version of the client's account. With 30 technical studies available, both platforms offer rich charting experiences, and users can draw trendlines and view various timeframes like daily or weekly charts. The notable difference is that TopFX's app automatically saves chart drawings, a feature that FXOpen currently lacks.
In terms of ratings, both FXOpen and TopFX have earned four stars for their mobile trading apps. However, when ranked by ForexBrokers.com among 62 brokers, TopFX holds a slight edge, coming in at #51, while FXOpen is positioned at #54. Overall, these apps provide a comprehensive set of tools for traders, though TopFX includes a few added conveniences that might sway users who value saving their chart annotations automatically.
| Feature |
FXOpen
|
TopFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | No | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing the market research offerings of FXOpen and TopFX, there are notable differences. FXOpen provides daily market commentary and sources forex news from well-regarded providers like Bloomberg and Reuters, bolstering their informational resources. However, they do not offer tools from Autochartist or Trading Central, nor do they have sentiment-based trading tools. On the other hand, TopFX does not provide daily market commentary but matches FXOpen with access to premium forex news. Additionally, TopFX enhances their research suite with tools from Autochartist and Trading Central, and offers a sentiment-based trading tool, providing a different set of analytical capabilities compared to FXOpen.
Both FXOpen and TopFX supply an economic calendar for tracking global economic events, although neither partner with TipRanks or Acuity Trading for additional insights. According to ForexBrokers.com, FXOpen and TopFX are each rated three stars for their research features. Despite this shared rating, TopFX ranks slightly higher at #59 out of 62 brokers, compared to FXOpen’s rank of #62, reflecting minor differences in their research tool offerings that may influence traders’ decisions depending on their research needs.
| Feature |
FXOpen
|
TopFX
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | No | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, both FXOpen and TopFX have some limitations. Neither platform provides a substantial number of educational materials such as articles, videos, or webinars focused on forex or CFDs, failing to meet a minimum of ten pieces in either category. Both brokers also lack the provision of monthly online webinars and archives of past webinars. Their offerings in terms of beginner and advanced educational videos are similarly scarce, with neither reaching the specified threshold of ten videos for novices or seasoned traders.
On the other hand, FXOpen does offer a benefit that TopFX does not: an investor dictionary containing over 50 investment terms. This resource can be helpful for beginners looking to familiarize themselves with trading lingo. Despite this, both brokers receive similar scores in the education category, each earning 3 out of 5 stars. Furthermore, they are ranked closely for education by ForexBrokers.com, with FXOpen at 58th and TopFX at 60th out of 62 brokers, indicating ample room for improvement in their educational offerings.
| Feature |
FXOpen
|
TopFX
|
|---|---|---|
| Education (Forex or CFDs) | No | No |
| Client Webinars | No | No |
| Client Webinars (Archived) | No | No |
| Videos - Beginner Trading Videos | No | No |
| Videos - Advanced Trading Videos | No | 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 FXOpen is better than TopFX. FXOpen finished with an overall rank of #54, while TopFX finished with an overall rank of #61.
FXOpen is a long standing MetaTrader broker with a narrow offering and few benefits beyond a standard MetaTrader experience coupled with social-trading platforms ZuluTrade and Myfxbook.
| Feature |
FXOpen
|
TopFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 76 | 67 |
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Both FXOpen and TopFX do not offer the ability to buy actual (delivered) cryptocurrency, but they do provide options for purchasing cryptocurrency derivatives.
While both FXOpen and TopFX provide options for deposits and withdrawals via Skrill, Visa/Mastercard, and bank wires, only TopFX includes PayPal as a funding method, whereas neither broker 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 | FXOpen | TopFX | |
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| Trust Score | 76 | 67 | |
| Winner | check_circle | ||
| Review | TopFX Review |
| Broker Screenshots | FXOpen | TopFX | |
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| Regulation | FXOpen | TopFX | |
|---|---|---|---|
| Trust Score | 76 | 67 | |
| Year Founded | 2003 | 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 | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | FXOpen | TopFX | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | 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) | FXOpen | 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 | FXOpen | TopFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 87 | 655 | |
| Forex Pairs (Total) | 25 | 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). |
| Cost | FXOpen | TopFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | N/A | 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 | FXOpen | TopFX | |
|---|---|---|---|
| Minimum Deposit | $100 | Depends on payment method | |
| PayPal (Deposit/Withdraw) | No | 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 | FXOpen | TopFX | |
|---|---|---|---|
| Proprietary Platform | No | 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 | Yes | No |
| Trading Tools | FXOpen | 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) | 15 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | FXOpen | 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 | 30 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | No | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | FXOpen | TopFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | Yes | |
| Economic Calendar | Yes | Yes |
| Education | FXOpen | TopFX | |
|---|---|---|---|
| Education (Forex or CFDs) | No | No | |
| Client Webinars | No | No | |
| Client Webinars (Archived) | No | No | |
| Videos - Beginner Trading Videos | No | No | |
| Videos - Advanced Trading Videos | No | No | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | FXOpen | 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 | TopFX Review |
| Overall | FXOpen | TopFX | |
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| Trust Score | 76 | 67 | |
| Winner | check_circle | ||
| Review | TopFX Review |
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