Written by ForexBrokers.com
In this head to head comparison of Interactive Brokers 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.
Interactive Brokers and TopFX are well-known names in the world of online brokerage, each with distinct features to consider. Founded in 1977, Interactive Brokers has established itself as a trusted option, achieving a ForexBrokers.com Trust Score of 99, which signifies a high level of trust. Despite not being a bank, Interactive Brokers is publicly traded and holds an impressive array of regulatory credentials, including nine Tier-1 licenses and two Tier-2 licenses. This strong regulatory standing underscores Interactive Brokers' reputation in the trading community.
Established in 2010, TopFX presents an alternative choice marked by a younger presence in the market. Although TopFX is not publicly traded and does not operate as a bank, it manages a ForexBrokers.com Trust Score of 67, indicating a higher risk level compared to Interactive Brokers. TopFX holds one Tier-1 license but lacks Tier-2 licenses, which might be a point of consideration for those prioritizing regulatory robustness. Overall, these differences highlight the varying degrees of trust and security that each broker provides, helping traders make informed decisions based on their unique needs.
| Feature |
Interactive Brokers
|
TopFX
|
|---|---|---|
| Year Founded | 1977 | 2010 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 9 | 1 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
When comparing the commissions and fees of Interactive Brokers and TopFX, it's important to note that both offer competitive pricing structures tailored to different trading needs. Interactive Brokers is particularly noteworthy for its flexible pricing, earning a rating of 5 stars and being ranked #2 out of 62 brokers by ForexBrokers.com. Although they don't publish average forex spreads, a look into Q3 2024 data shows an average spread of 0.19 pips on EUR/USD pairs, resulting in an all-in spread of 0.59 pips when commissions are included. Their forex trading commissions start at just 0.00002 of the trade value, with potential reductions for active traders, meaning you can achieve lower costs with higher trading volumes.
In contrast, TopFX offers two account types: the spread-only ZERO account, which is commission-free but with higher spreads, and the commission-based RAW account. For the RAW account, traders encounter an average spread of 0.33 pips for the EUR/USD plus a commission equivalent of 0.55 pips per round-turn, bringing the total cost to approximately 0.88 pips. Despite these competitive spreads, TopFX is rated 4 stars and ranks #40 in the same broker comparison by ForexBrokers.com. The ZERO account, while commission-free, sees higher average spreads of about 1.03 pips for EUR/USD, potentially making it less cost-effective for certain trading strategies.
Overall, Interactive Brokers offers greater flexibility with discounts available for high-volume traders, making them especially attractive for those planning to trade substantial amounts. Meanwhile, TopFX might appeal to traders who prefer a straightforward, commission-free model or want the simplicity of a fixed commission structure with the RAW account. Each broker aligns its pricing to cater to different trader preferences, but Interactive Brokers stands out for its high-ranking cost efficiency.
| Feature |
Interactive Brokers
|
TopFX
|
|---|---|---|
| Minimum Deposit | $0 | Depends on payment method |
| Average Spread EUR/USD - Standard | 0.59 | 1.03 |
| All-in Cost EUR/USD - Active | 0.59 | 0.88 |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing the investment offerings between Interactive Brokers and TopFX, Interactive Brokers presents a more extensive selection. With 8500 tradeable symbols, including U.S. and international exchange-traded securities such as buying shares of Apple or Vodafone, Interactive Brokers offers users a broad spectrum of investment options. Additionally, they provide both spot forex contracts and CFDs, with access to 90 tradeable forex pairs, as well as the ability to buy actual cryptocurrencies alongside cryptocurrency derivatives. In contrast, TopFX offers 655 tradeable symbols and focuses more heavily on forex trading, with 60 available forex pairs, and only provides CFDs for these trades. They also feature a convenient copy trading function but fall short in offering direct access to exchange-traded securities or actual cryptocurrencies.
For investors looking to diversify their portfolios, Interactive Brokers stands out as the top choice, evidenced by their 5-star rating and #1 ranking by ForexBrokers.com for the Range of Investments category. TopFX, while providing a platform for forex and some derivative trading, earns a 3.5 star rating and ranks at #46, showing a more limited range suitable for traders specifically interested in CFD and forex trading without the option to invest in broader securities or actual digital currencies. For those prioritizing a wider investment spectrum, Interactive Brokers clearly comes ahead.
| Feature |
Interactive Brokers
|
TopFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 8500 | 655 |
| Forex Pairs (Total) | 90 | 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) | 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.
Interactive Brokers and TopFX both cater to traders seeking comprehensive tools and platforms, yet they differ in their offerings. Interactive Brokers provides a broad range of features, including a proprietary platform available on both desktop and web-based interfaces, and an impressive selection of 85 drawing tools for charting. With specialized features like direct trading from stock charts and the ability to customize watch lists with 659 columns, it’s no surprise that Interactive Brokers earned a 5-star rating and ranks third among 62 brokers for trading platforms and tools. Although it lacks MetaTrader 4, and copy trading options, its dedicated platform continues to draw acclaim from experienced traders.
TopFX, on the other hand, accommodates traders preferring the popular MetaTrader 4 platform, also offering both desktop and web-based interfaces. While lacking a proprietary platform, TopFX excels in providing copy trading, a feature sought after by many. For charting, TopFX includes 15 drawing tools and supports direct trading from stock charts, though its customization in watch lists is more limited with only 7 columns available. Despite these restrictions, TopFX holds a respectable 4-star rating and ranks 44th in trading platforms and tools. Both brokers offer simulated trading, allowing traders to practice before committing real funds. Ultimately, while Interactive Brokers might appeal more to those seeking extensive charting and customization, TopFX provides an alternative for those focused on using mainstream platforms and copy trading.
| Feature |
Interactive Brokers
|
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) | No | Yes |
| MetaTrader 5 (MT5) | No | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 155 | 30 |
| Charting - Drawing Tools (Total) | 85 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 659 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Interactive Brokers and TopFX both offer mobile trading apps compatible with iPhone and Android devices, making it convenient for traders on the go. Each app provides essential features such as stock and forex price alerts and the ability to create watchlists with real-time quotes. While both apps support multiple time frame views and drawing trendlines on charts, Interactive Brokers shines with its 97 technical studies for charting, compared to TopFX’s 30, and offers the unique advantage of watchlist symbol syncing. This feature ensures that any updates made on either the mobile app or the online account are automatically reflected across platforms, a convenience that TopFX lacks.
When it comes to user experience and app functionality, Interactive Brokers stands out with a 5-star rating and is ranked 4th out of 62 brokers by ForexBrokers.com for mobile trading apps. In contrast, TopFX is rated 4 stars and holds the 51st position in the same category. Although TopFX offers auto-saving for chart drawings which Interactive Brokers does not, the latter's comprehensive charting tools and seamless integration make it a preferred choice for many active traders.
| Feature |
Interactive Brokers
|
TopFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 97 | 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.
Interactive Brokers and TopFX both offer valuable features for traders interested in market research, but there are notable differences between the two. Interactive Brokers provides daily market commentary, a feature not available with TopFX. Both brokers offer forex news from top-tier sources, as well as technical analysis tools from Trading Central. However, TopFX distinguishes itself by including offerings from Autochartist. In contrast, Interactive Brokers includes unique market insights from TipRanks and tools from Acuity Trading, which TopFX does not provide.
Both brokers offer sentiment-based trading tools and economic calendars for tracking global news events. However, in terms of overall research and analysis, Interactive Brokers is rated higher with a five-star rating and ranks third among 62 brokers according to ForexBrokers.com. Meanwhile, TopFX holds a three-star rating and ranks 59th in the same category. This reflects the comprehensive market research resources and analytical tools available with Interactive Brokers, catering to a wider range of trader needs.
| Feature |
Interactive Brokers
|
TopFX
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | Yes | 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 the educational offerings for beginners from Interactive Brokers and TopFX, it's clear that Interactive Brokers stands out significantly. Interactive Brokers provides over ten educational resources focused on forex and CFDs, including articles, videos, and archived webinars. They also hold regular monthly webinars and maintain a user-friendly archive of past sessions, making it easy for beginners to access valuable learning materials. Their collection includes more than ten videos specifically designed for beginners, in addition to a comprehensive suite of videos for advanced traders. A rich investor dictionary with over 50 investing term definitions further supports newcomers. These extensive offerings have earned Interactive Brokers a stellar 5-star education rating, placing them third out of 62 brokers on ForexBrokers.com’s rankings.
In contrast, TopFX's educational resources are limited. They do not meet the minimum threshold of ten educational pieces about forex or CFDs and don't offer monthly webinars or an archive of recorded sessions. Their lack of beginner-focused or advanced trading videos demonstrates a narrow approach to trader education. Additionally, they do not provide an investor dictionary to help clarify key financial terms. As a result, TopFX receives a modest 3-star rating for education and ranks near the bottom, at position 60 out of 62, according to ForexBrokers.com. This comparison highlights Interactive Brokers as the more supportive platform for beginners seeking comprehensive trading education.
| Feature |
Interactive Brokers
|
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 Interactive Brokers is better than TopFX. Interactive Brokers finished with an overall rank of #2, while TopFX finished with an overall rank of #61.
Interactive Brokers is a highly trusted multi-asset broker with an extensive offering of tradeable global markets. It delivers competitive fees and high-quality research and education, as well as a modern, institutional-grade trading platform suite.
| Feature |
Interactive Brokers
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TopFX
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| Trust Score | 99 | 67 |
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Interactive Brokers allows investors to buy both actual delivered cryptocurrency and cryptocurrency derivatives, whereas TopFX only provides the option to buy cryptocurrency derivatives, not the actual cryptocurrency.
While Interactive Brokers supports ACH, SEPA, and bank wire transfers for funding accounts, it lacks PayPal, Skrill, and card payment options like Visa and Mastercard, whereas TopFX excels by offering a broader range of deposit and withdrawal methods, including PayPal, Skrill, Visa, Mastercard, and bank wire transfers, but does not provide ACH or SEPA transfer options.
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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| Trust Score | 99 | 67 | |
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| Review | Interactive Brokers Review | TopFX Review |
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| Regulation | Interactive Brokers | TopFX | |
|---|---|---|---|
| Trust Score | 99 | 67 | |
| Year Founded | 1977 | 2010 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 9 | 1 | |
| Tier-2 Licenses | 2 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Interactive Brokers | TopFX | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | Yes | 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) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | Interactive Brokers | TopFX | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | Yes | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Interactive Brokers | TopFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 8500 | 655 | |
| Forex Pairs (Total) | 90 | 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) | 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 | Interactive Brokers | TopFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.59 | 1.03 | |
| All-in Cost EUR/USD - Active | 0.59 | 0.88 | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | No | Yes |
| Funding | Interactive Brokers | TopFX | |
|---|---|---|---|
| Minimum Deposit | $0 | Depends on payment method | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | Interactive Brokers | TopFX | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | 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 | Interactive Brokers | TopFX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 659 | 7 | |
| Charting - Indicators / Studies (Total) | 155 | 30 | |
| Charting - Drawing Tools (Total) | 85 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Interactive Brokers | 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 | 97 | 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 | Interactive Brokers | TopFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Interactive Brokers | 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 | Interactive Brokers | 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 | Interactive Brokers Review | TopFX Review |
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| Trust Score | 99 | 67 | |
| Winner | check_circle | ||
| Review | Interactive Brokers Review | TopFX Review |
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