Written by ForexBrokers.com
In this head to head comparison of iFOREX 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.
iFOREX, founded in 1996, and TopFX, launched in 2010, are both established players in the online brokerage market, yet they differ in some regulatory aspects. Neither iFOREX nor TopFX is publicly traded or operates as a bank. In terms of regulatory credentials, both brokers hold one Tier-1 license, which is recognized as highly trusted according to ForexBrokers.com. However, neither possesses Tier-2 licenses, which typically add an additional layer of trust.
Despite similarities in licensing, iFOREX has a slightly more favorable Trust Score from ForexBrokers.com, standing at 75, indicating an average risk. In contrast, TopFX holds a score of 67, suggesting a higher risk profile. These scores suggest that potential investors may find iFOREX somewhat more reassuring in terms of reliability, based on available trust metrics.
| Feature |
iFOREX
|
TopFX
|
|---|---|---|
| Year Founded | 1996 | 2010 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 1 | 1 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
When comparing online brokers, iFOREX and TopFX present different options for traders concerned with commissions and fees. iFOREX does not provide average spread data, which can make it challenging for potential clients to gauge exact costs based on spreads and commissions. Nonetheless, iFOREX earns a rating of 3 out of 5 stars for its fee structure and is ranked #60 out of 62 brokers according to ForexBrokers.com in the Commissions and Fees category.
On the other hand, TopFX offers a clearer and more competitive fee structure across its two account types. The ZERO account features higher spreads like an average of 1.03 pips for EUR/USD but no commission fees, appealing to those who prefer a spread-only model. The RAW account stands out with lower spreads, averaging 0.33 pips for EUR/USD, combined with a 5.50 EUR round-turn commission per standard lot. This results in an all-in cost averaging around 0.88 pips, aligning with industry standards. This transparent approach garners TopFX a 4 out of 5-star rating and a ranking of #40 among 62 brokers in the same category as per ForexBrokers.com.
| Feature |
iFOREX
|
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 | No | 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.
When comparing the range of investments offered by iFOREX and TopFX, both platforms provide a solid selection, though with some differences. iFOREX offers 750 tradeable symbols, surpassing TopFX's 655. In terms of forex pairs, iFOREX presents a broader choice with 88 pairs compared to TopFX's 60. Both platforms allow forex trading through CFDs, but they do not offer direct access to exchange-traded securities on U.S. or international exchanges, such as Apple or Vodafone shares. When it comes to cryptocurrency options, both brokers provide the opportunity to trade cryptocurrency derivatives but do not offer actual cryptocurrency trading.
While iFOREX does not support copy trading, TopFX includes this feature, adding more flexibility for traders interested in automated or social trading strategies. Both brokers are equally rated at 3.5 stars for their range of investments, according to ForexBrokers.com. However, in terms of ranking, iFOREX holds the 41st position, slightly ahead of TopFX at 46th out of 62 evaluated brokers. This subtle edge showcases iFOREX's slightly expanded range in some areas despite both brokers aligning closely in many other investment categories.
| Feature |
iFOREX
|
TopFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 750 | 655 |
| Forex Pairs (Total) | 88 | 60 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | No |
| Social Trading / Copy Trading | No | 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 iFOREX and TopFX, both online brokers provide a web-based trading platform that supports various trading activities directly from stock charts. However, iFOREX stands out with its proprietary platform and availability of 25 drawing tools for charting, alongside the capacity to organize watch lists with 9 fields. In contrast, TopFX scores points for offering a Windows-based desktop platform alongside popular third-party software, MetaTrader 4 (MT4), and copy trading functionalities. TopFX also provides a simulated demo account, which is absent at iFOREX, making it a favored choice for traders seeking a practice environment.
Despite both brokers achieving a 4-star rating for Trading Platforms and Tools, as recognized by ForexBrokers.com, TopFX edges ahead in ranking at 44 out of 62 brokers compared to iFOREX's placement at 54. These distinctions highlight TopFX’s broader platform offerings and versatility. Yet, iFOREX's unique proprietary platform appeals to users interested in an innovative approach, though it lacks a demo account and MT4 support. Ultimately, the choice between iFOREX and TopFX can depend on individual trading preferences and desired tools, including platform flexibility and practice account options.
| Feature |
iFOREX
|
TopFX
|
|---|---|---|
| Virtual Trading (Demo) | No | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | No | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 57 | 30 |
| Charting - Drawing Tools (Total) | 25 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 9 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both iFOREX and TopFX provide accessible mobile trading apps for iPhone and Android users. While iFOREX's app is straightforward, TopFX brings more advanced features that cater to users looking for a comprehensive trading experience on the go. Notably, TopFX offers stock and forex price alerts, an important tool for active traders who need to respond to market changes quickly. Additionally, TopFX stands out for users interested in technical analysis, offering 30 technical studies for charting, the ability to draw trendlines, view multiple time frames, and even auto-saving chart drawings—all features that iFOREX's app lacks.
Both companies score 4 out of 5 stars for their mobile apps, indicating a satisfactory performance. However, in terms of sheer capability, TopFX edges ahead, possibly explaining its slightly better ranking of #51 compared to iFOREX's #55 in ForexBrokers.com's category out of 62 brokers. Although neither platform offers watchlist syncing, TopFX does allow creating a watchlist with real-time quotes, further enhancing the user experience for traders who need quick access to market data.
| Feature |
iFOREX
|
TopFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | No | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | N/A | 30 |
| Mobile Charting - Draw Trendlines | No | Yes |
| Mobile Charting - Multiple Time Frames | No | Yes |
| Mobile Charting - Drawings Autosave | No | Yes |
| Mobile Watchlist | No | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing online brokerages iFOREX and TopFX for market research offerings, iFOREX stands out with its daily market commentary, an advantage not provided by TopFX. However, in terms of sourcing forex news from top-tier providers like Bloomberg and Reuters, TopFX takes the lead, offering insight that is absent from iFOREX's services. For those seeking technical and fundamental analysis tools, TopFX provides access to Autochartist, enhancing its analytical capabilities, whereas iFOREX does not. However, both platforms offer research tools from Trading Central, which adds value to their technical analytics resources. Additionally, both brokers offer sentiment-based trading tools, allowing traders to gauge the ratio of long to short positions across various instruments.
Both iFOREX and TopFX offer an economic calendar that keeps traders informed about global news events, but neither provides market research from TipRanks or research tools from Acuity Trading. When considering overall research ratings, iFOREX slightly edges out TopFX with a rating of 3.5 stars out of five compared to TopFX's 3 stars, according to ForexBrokers.com. Furthermore, in a ranking of 62 brokers, iFOREX is positioned higher at #48, while TopFX falls behind at #59 in the research category. This comparison highlights iFOREX's slight advantage in market commentary and general research rating, while TopFX excels in delivering news from high-tier sources and specific analytical tools.
| Feature |
iFOREX
|
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 | 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 beginner traders, iFOREX and TopFX each have their strengths and limitations. iFOREX stands out by offering at least 10 fundamental educational videos specifically designed for beginners, a feature that TopFX lacks. However, both platforms fall short in delivering a diverse range of educational materials, such as articles, in-depth video tutorials, or archived webinars on forex and CFDs. Neither offers monthly online webinars or a searchable database of past webinars or provides an extensive investor dictionary to help clarify trading terminology.
In terms of overall educational quality, iFOREX slightly outshines TopFX with a 3.5-star rating compared to TopFX’s 3-star rating. This distinction is also evident in their industry rankings within the education category, where iFOREX is positioned higher at rank #53 compared to TopFX's rank of #60. Both brokers are still considered to be below many others in the field, indicating room for improvement when it comes to educational support for both beginner and advanced traders.
| Feature |
iFOREX
|
TopFX
|
|---|---|---|
| Education (Forex or CFDs) | No | No |
| Client Webinars | No | No |
| Client Webinars (Archived) | No | No |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | No | No |
| Investor Dictionary (Glossary) | No | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that iFOREX is better than TopFX. iFOREX finished with an overall rank of #52, while TopFX finished with an overall rank of #61.
iFOREX is operated by a long-standing company, previously known as Vestle, with regulatory status in a growing number of jurisdictions, offering forex and CFDs through its proprietary platform. The biggest drawback is the lack of markets you can trade with fewer than 200, compared to the best multi asset forex and CFD brokers.
| Feature |
iFOREX
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TopFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 75 | 67 |
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Both iFOREX and TopFX do not offer the ability to buy actual delivered cryptocurrency, but they do provide options for purchasing cryptocurrency derivatives.
Both iFOREX and TopFX provide similar options for depositing and withdrawing account funds, including PayPal, Skrill, Visa or Mastercard, and bank wires; however, 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 | iFOREX | TopFX | |
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| Trust Score | 75 | 67 | |
| Winner | check_circle | ||
| Review | TopFX Review |
| Broker Screenshots | iFOREX | TopFX | |
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| Regulation | iFOREX | TopFX | |
|---|---|---|---|
| Trust Score | 75 | 67 | |
| Year Founded | 1996 | 2010 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 1 | 1 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | iFOREX | 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) | iFOREX | 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 | iFOREX | TopFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 750 | 655 | |
| Forex Pairs (Total) | 88 | 60 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | No | |
| Social Trading / Copy Trading | No | 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 | iFOREX | 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 | No | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | iFOREX | TopFX | |
|---|---|---|---|
| Minimum Deposit | $100 | 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 | iFOREX | TopFX | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | No | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | Yes | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | iFOREX | TopFX | |
|---|---|---|---|
| Virtual Trading (Demo) | No | Yes | |
| Alerts - Basic Fields | No | Yes | |
| Watchlists - Total Fields | 9 | 7 | |
| Charting - Indicators / Studies (Total) | 57 | 30 | |
| Charting - Drawing Tools (Total) | 25 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | No | Yes |
| Mobile Trading | iFOREX | TopFX | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | No | Yes | |
| Mobile Watchlist | No | Yes | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | N/A | 30 | |
| Mobile Charting - Draw Trendlines | No | Yes | |
| Mobile Charting - Multiple Time Frames | No | Yes | |
| Mobile Charting - Drawings Autosave | No | Yes | |
| Mobile Economic Calendar | No | Yes |
| Research | iFOREX | TopFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | No | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | iFOREX | TopFX | |
|---|---|---|---|
| Education (Forex or CFDs) | No | No | |
| Client Webinars | No | No | |
| Client Webinars (Archived) | No | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | No | No | |
| Investor Dictionary (Glossary) | No | No |
| Major Forex Pairs | iFOREX | 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 | iFOREX | TopFX | |
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| Trust Score | 75 | 67 | |
| Winner | check_circle | ||
| Review | TopFX Review |
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