Written by ForexBrokers.com
In this head to head comparison of IG 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.
IG and TopFX are two online brokers with distinct profiles and regulatory standings. Established in 1974, IG not only enjoys a long-standing presence but is also publicly traded and operates as a bank. It holds an impressive eight Tier-1 licenses, a mark of high trust, along with two Tier-2 licenses. This has earned IG a perfect Trust Score of 99 out of 99 on ForexBrokers.com, indicating a status of being highly trusted by the regulatory community.
In contrast, TopFX, founded in 2010, is neither publicly traded nor a bank. It holds one Tier-1 license but does not possess any Tier-2 licenses. TopFX has a Trust Score of 67 out of 99, categorizing it as a high-risk broker by ForexBrokers.com standards. The differences in regulatory stature between these two brokers highlight the level of trust and assurance each one offers to traders.
| Feature |
IG
|
TopFX
|
|---|---|---|
| Year Founded | 1974 | 2010 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 8 | 1 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
IG offers competitive pricing for active traders, particularly through its Forex Direct accounts, which provide scalable execution and multiple trading methods. The spreads on Forex Direct accounts are close to the industry average, with an effective spread of 0.82 pips after including a per-trade commission. For CFD accounts, the average spread during typical trading sessions was 0.69 pips in July 2023. Active traders can benefit from IG's rebate program, which offers spread rebates of up to 20% for high trading volumes. The Direct Market Access (DMA) account offers even more significant discounts with average spreads as low as 0.62 pips on the EUR/USD, making it an attractive option for high-volume traders.
TopFX provides two account types with different pricing structures. The RAW account has a commission charge of 2.75 EUR per side and features average spreads of 0.33 pips on the EUR/USD, resulting in an all-in cost of about 0.88 pips, aligning with the industry average. The ZERO account, while offering commission-free trading, incurs higher spreads, averaging 1.03 pips on the EUR/USD in July 2024. Traders can choose between the two based on their trading preferences and volume needs.
In terms of ratings, IG is rated 5 stars for its commissions and fees, ranking 8th out of 62 brokers according to ForexBrokers.com. On the other hand, TopFX holds a 4-star rating and is ranked 40th out of 62 brokers for its commissions and fees. IG's superior rating indicates a more favorable fee structure, especially for high-frequency and professional traders seeking cost-effective trading solutions.
| Feature |
IG
|
TopFX
|
|---|---|---|
| Minimum Deposit | £250.00 | Depends on payment method |
| Average Spread EUR/USD - Standard | 0.98 | 1.03 |
| All-in Cost EUR/USD - Active | 0.82 | 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.
When comparing the investment offerings of IG and TopFX, IG stands out with a significantly larger range of options. IG provides access to an impressive 19,537 tradeable symbols, including 97 forex pairs, far surpassing TopFX's 655 tradeable symbols and 60 forex pairs. While both brokers offer forex trading as CFDs or spot contracts, IG goes a step further by offering exchange-traded securities on both U.S. and international exchanges. This means clients can directly purchase shares like Apple and Vodafone, a feature not available with TopFX.
While TopFX supports copy trading, unlike IG, both platforms give clients the ability to trade cryptocurrency derivatives rather than actual cryptocurrencies. In terms of rankings, IG is rated five stars and ranks 4th out of 62 brokers in the "Range of Investments" category on ForexBrokers.com, reflecting its broad spectrum of investment options. Conversely, TopFX earns a 3.5-star rating and places 46th in the same category, highlighting a comparatively limited offering. This positions IG as the preferable choice for those seeking diverse investment opportunities.
| Feature |
IG
|
TopFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 19537 | 655 |
| Forex Pairs (Total) | 97 | 60 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | 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 the trading platforms and tools of IG and TopFX, both brokers provide free virtual demo accounts to help users practice trading skills. IG shines with its proprietary trading platform developed in-house, whereas TopFX relies on third-party platforms. Both offer Windows-based desktop and web-based platforms, catering to different trader preferences. IG and TopFX both offer MetaTrader 4 (MT4) but neither supports MetaTrader 5 (MT5), and neither offers additional platforms like DupliTrade or ZuluTrade. While IG does not offer copy trading, TopFX allows traders to explore this feature.
IG stands out with more charting tools, offering 20 drawing tools compared to TopFX’s 15. Both brokers enable trading directly from stock charts. IG offers fewer columns for watch lists with 5 compared to TopFX's 7. In terms of ratings, IG outshines with a perfect 5-star rating and is ranked #2 by ForexBrokers.com for their platforms and tools, making it a top choice for many traders. Meanwhile, TopFX holds a respectable 4-star rating but falls behind in overall ranking at #44. This suggests IG offers a more comprehensive platform experience for traders seeking advanced features and flexibility.
| Feature |
IG
|
TopFX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | No | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 33 | 30 |
| Charting - Drawing Tools (Total) | 20 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 5 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps offered by IG and TopFX, both platforms provide users with the convenience of iPhone and Android apps along with features like stock and forex price alerts. One of the key differences lies in watchlist synchronization; IG allows for watchlist symbol syncing between the mobile app and online account, enabling seamless updates across devices, whereas TopFX does not offer this feature. Charting options are slightly more advanced with IG, offering 33 technical studies compared to TopFX's 30. Both apps provide functionalities like drawing trendlines on charts and viewing various time frames, with automatic saving of drawings and real-time quotes on watchlists.
Overall user ratings highlight a distinction, with IG's mobile trading app receiving an impressive 5-star rating, while TopFX is rated slightly lower at 4 stars. In terms of ranking, IG achieved the top position out of 62 brokers in the Mobile Trading Apps category according to ForexBrokers.com, whereas TopFX is placed at 51. These factors make IG's mobile trading app a more comprehensive choice for traders seeking advanced app features and a superior overall experience.
| Feature |
IG
|
TopFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 33 | 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.
IG stands out as a leader in market research, offering a comprehensive suite of tools and resources to keep traders informed. It provides daily market commentary, ensuring its clients are up-to-date with the latest developments. IG draws forex news from top-tier sources like Bloomberg and Reuters and features technical analysis tools from Autochartist, along with a sentiment-based trading tool to gauge market moods. Additionally, IG offers proprietary research through TipRanks and research tools from Acuity Trading, plus an economic calendar to track global events. With a top-tier 5-star research rating and a prestigious 2nd place ranking by ForexBrokers.com, IG proves its commitment to delivering insightful and timely research.
In contrast, TopFX has a more limited research offering. While it provides forex news from high-quality sources such as Bloomberg and Reuters and uses Autochartist tools, it also includes resources from Trading Central, which adds depth to its technical analysis capabilities. TopFX supports traders with a sentiment-based trading tool and an economic calendar, but it lacks access to TipRanks and Acuity Trading research. With a 3-star research rating, TopFX is ranked 59th by ForexBrokers.com, indicating room for improvement in its research services compared to market-leading brokerages like IG.
| Feature |
IG
|
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 | Yes | No |
| Signal Centre (Acuity Trading) | Yes | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing IG and TopFX in terms of educational resources for beginners, IG stands out significantly. IG offers a wealth of learning materials, including over ten articles, videos, and archived webinars focused on forex and CFDs. This ensures that beginners have ample resources to get started. IG hosts monthly educational webinars, providing valuable live learning opportunities. Additionally, IG maintains a searchable archive of recorded webinars, allowing newcomers to revisit topics at their convenience. For visual learners, IG offers a range of beginner-friendly video tutorials and extends its resources to cater to advanced traders as well, making it a comprehensive platform for continued learning. With a detailed investor dictionary that explains over 50 investing terms, IG empowers traders with essential knowledge to navigate the financial markets confidently.
In contrast, TopFX offers limited educational support for traders who are new to the field. The platform does not provide the minimum ten pieces of educational content on forex or CFDs, nor does it host regular client webinars or keep a searchable archive of past webinars. While TopFX aims to assist traders in advancing their skills, it lacks sufficient beginner-focused videos compared to IG. With no access to advanced trading videos or a comprehensive investor dictionary, beginners may find it challenging to acquire the foundational and advanced knowledge needed to thrive. As a result, IG is highly rated with five stars for its educational offerings and holds the top spot among 62 brokers, whereas TopFX is rated three stars and ranks 60th.
| Feature |
IG
|
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 IG is better than TopFX. IG finished with an overall rank of #1, while TopFX finished with an overall rank of #61.
IG offers the ultimate comprehensive trading package, featuring excellent trading and research tools, industry-leading education, and an extensive range of tradeable markets.
| Feature |
IG
|
TopFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 67 |
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Neither IG nor TopFX offer the ability to buy actual delivered cryptocurrency, but both provide options to invest in cryptocurrency derivatives.
When comparing online brokers IG and TopFX, both offer PayPal, Visa/Mastercard, and bank wire options for account fund transactions, but differ in that IG provides ACH/SEPA transfers, while TopFX supports Skrill.
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 | IG | TopFX | |
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| Trust Score | 99 | 67 | |
| Winner | check_circle | ||
| Review | IG Review | TopFX Review |
| Broker Screenshots | IG | TopFX | |
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| Regulation | IG | TopFX | |
|---|---|---|---|
| Trust Score | 99 | 67 | |
| Year Founded | 1974 | 2010 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 8 | 1 | |
| Tier-2 Licenses | 2 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | IG | TopFX | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | Yes | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | IG | TopFX | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | IG | TopFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 19537 | 655 | |
| Forex Pairs (Total) | 97 | 60 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | 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 | IG | TopFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.98 | 1.03 | |
| All-in Cost EUR/USD - Active | 0.82 | 0.88 | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | IG | TopFX | |
|---|---|---|---|
| Minimum Deposit | £250.00 | 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 | IG | TopFX | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | Yes | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | IG | TopFX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 5 | 7 | |
| Charting - Indicators / Studies (Total) | 33 | 30 | |
| Charting - Drawing Tools (Total) | 20 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | IG | 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 | 33 | 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 | IG | TopFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | IG | 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 | IG | 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 | IG Review | TopFX Review |
| Overall | IG | TopFX | |
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| Trust Score | 99 | 67 | |
| Winner | check_circle | ||
| Review | IG Review | TopFX Review |
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