Written by ForexBrokers.com
In this head to head comparison of IronFX 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.
IronFX and TopFX, both established in 2010, offer online brokerage services but differ significantly in their regulatory standings. IronFX boasts a solid reputation with three Tier-1 licenses, which are considered highly trustworthy, giving it a reliable Trust Score of 83, as rated by ForexBrokers.com. Meanwhile, TopFX holds one Tier-1 license, contributing to its lower Trust Score of 67. This score suggests a higher level of risk compared to IronFX, according to ForexBrokers.com's risk assessment standards.
Neither IronFX nor TopFX is publicly traded or operates as a bank, providing equal footing in those respects. However, IronFX's additional Tier-1 licenses and higher Trust Score may make it a more reassuring option for users seeking a trusted brokerage service.
| Feature |
IronFX
|
TopFX
|
|---|---|---|
| Year Founded | 2010 | 2010 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 3 | 1 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
When comparing the commissions and fees between IronFX and TopFX, both brokers receive a 4-star rating. However, IronFX has room to improve, especially given that its typical spreads are higher than the industry average. Specifically, IronFX’s Standard variable spread account lists a typical spread of 1.8 pips, though this can vary based on account type. Their zero fixed-spread account starts at zero but includes a $18 per lot commission with spreads expanding to 3 pips overnight.
TopFX, on the other hand, presents a more detailed view of its pricing structure with two account types. The spread-only ZERO account incurs no commissions but features average spreads of 1.03 pips for the EUR/USD. In contrast, the RAW account charges a commission of 2.75 EUR per side (5.50 per round turn standard lot). With an average spread of 0.33 pips and a commission equivalent of 0.55 pips, the RAW account’s all-in costs for EUR/USD total approximately 0.88 pips, aligning with the industry average.
In terms of rankings for commissions and fees, IronFX is positioned at #47 out of 62 brokers on ForexBrokers.com, while TopFX ranks slightly better at #40. Both brokers maintain a strong footing in the competitive landscape, but TopFX's detailed fee structures may offer traders a clearer picture of potential costs.
| Feature |
IronFX
|
TopFX
|
|---|---|---|
| Minimum Deposit | $50 | Depends on payment method |
| Average Spread EUR/USD - Standard | 1.2 | 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.
IronFX and TopFX both offer forex trading through CFDs or spot contracts, letting you delve into currency trading easily. While IronFX provides 83 tradeable forex pairs, TopFX offers 60. However, when it comes to the total number of tradeable symbols, TopFX stands out with 655 options compared to IronFX's 340. Both brokers lack direct access to exchange-traded securities on U.S. and international exchanges, which means you won't be buying real stocks like Apple or Vodafone with them.
Both brokers enable copy trading, allowing you to mimic successful trading strategies, and offer the option to trade cryptocurrency derivatives rather than the actual assets. This can be a versatile feature for speculative trading. Despite a tie in their star rating for the range of investments at 3.5 stars, TopFX edges IronFX in online rankings, positioned at #46, while IronFX falls slightly behind at #51 out of 62 brokers evaluated by ForexBrokers.com.
| Feature |
IronFX
|
TopFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 340 | 655 |
| Forex Pairs (Total) | 83 | 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 the trading platforms and tools of IronFX and TopFX, both brokers offer similar functionalities, including the availability of free virtual demo accounts, Windows-based desktop platforms, and web-based platforms. They both provide the widely used MetaTrader 4 but do not support the newer MetaTrader 5, nor do they offer proprietary platforms or external platforms like DupliTrade and ZuluTrade. Additionally, both IronFX and TopFX enable direct trading from charts and include 15 drawing tools for comprehensive charting experiences. Although they offer a similar number of columns for watch lists, their charting capabilities differ slightly, with IronFX offering an unspecified number of technical indicators, presumably comparable to TopFX's offerings.
Despite these similarities, there is a distinction in how users rate their overall trading platform and tools experiences. IronFX receives a customer rating of 3.5 stars out of five, while TopFX scores slightly higher with four stars. This preference is also reflected in their respective rankings by ForexBrokers.com, where IronFX is positioned at #60 compared to TopFX at #44. These ratings indicate that while both brokers offer essential trading tools, TopFX appears to have a more favorable reception among users for its platform and tools.
| Feature |
IronFX
|
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) | No | No |
| DupliTrade | No | No |
| ZuluTrade | No | 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.
IronFX and TopFX both offer mobile trading apps for iPhone and Android, making it convenient for users to trade on the go. Both apps provide essential features such as stock and forex price alerts, the ability to draw trendlines, view multiple time frames, and even auto-save drawings on charts. Although each app offers 30 technical studies for charting, neither of the services supports watchlist symbol syncing with the client’s online account.
When it comes to ratings and rankings, TopFX edges out IronFX with a 4-star rating, compared to IronFX’s 3.5 stars. In the broader scope of brokers, TopFX stands at #51 while IronFX ranks at #61 out of 62 brokers in the Mobile Trading Apps category according to ForexBrokers.com. Both apps allow users to create watchlists with real-time quotes, but given these rankings, TopFX might be the more favorable choice for those prioritizing mobile trading experience.
| Feature |
IronFX
|
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 | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing IronFX and TopFX in terms of market research offerings, IronFX provides a more comprehensive suite. IronFX excels with daily market commentary and access to forex news from top-tier sources like Bloomberg and Reuters. Though it lacks Autochartist tools, it compensates with support from Trading Central's technical analytics. Additionally, IronFX offers an economic calendar to keep traders informed about global events. In contrast, TopFX does not provide daily market commentary but offers news from leading sources and includes Autochartist tools along with Trading Central's services. TopFX also offers a sentiment-based trading tool, setting it apart in that aspect.
Despite differences, both brokers do not integrate research tools from TipRanks or Acuity Trading. IronFX holds a better reputation for research, earning a four-star rating and a ranking of 28 out of 62 brokers by ForexBrokers.com. Meanwhile, TopFX receives a three-star rating, placing it at 59 in the same category. These distinctions suggest that IronFX might cater better to traders seeking extensive market analysis tools and news coverage. Conversely, TopFX may attract those focused on technical analysis through Autochartist and sentiment-based trading insights.
| Feature |
IronFX
|
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 | 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, IronFX stands out by offering a wide array of materials tailored to new traders. They provide a minimum of 10 educational pieces focused on forex and CFDs, ensuring beginners can access relevant and insightful content. Additionally, IronFX offers a searchable archive of recorded webinars, allowing users to revisit and learn at their own pace. For those just starting out, IronFX also includes at least 10 beginner-friendly videos to help grasp foundational trading concepts. An investor dictionary with over 50 terms further enriches the learning experience for newcomers, making it easier to understand trading jargon.
On the other hand, TopFX falls short in comparison. They do not reach the threshold of providing a minimum of 10 educational materials specifically for forex or CFDs and lack a searchable archive of webinars. Furthermore, TopFX does not offer enough beginner-focused educational videos, leaving a gap for those new to trading. Without an investor dictionary, beginners might find it challenging to decode the complexities of financial terms. As a result, IronFX has been rated 4 stars by ForexBrokers.com for education, compared to TopFX’s 3 stars, reflecting their broader and more beginner-friendly educational offerings. In the overall ranking by ForexBrokers.com, IronFX ranks #44 out of 62 brokers for their educational resources, whereas TopFX is placed at #60.
| Feature |
IronFX
|
TopFX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | No | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | 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 IronFX is better than TopFX. IronFX finished with an overall rank of #48, while TopFX finished with an overall rank of #61.
IronFX has come a long way to rebuild its brand, acquiring multiple regulatory licenses to improve its Trust Score, and creating balanced educational material. That said, pricing is an area where IronFX has room to further improve as spreads appeared higher than the industry average.
| Feature |
IronFX
|
TopFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 83 | 67 |
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Neither IronFX nor TopFX provides the option to purchase actual delivered cryptocurrencies, but both offer the ability to trade cryptocurrency derivatives.
IronFX and TopFX both facilitate deposits and withdrawals through Skrill, Visa or Mastercard, and bank wires; however, only TopFX provides the option to transact with PayPal, while 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 | IronFX | TopFX | |
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| Trust Score | 83 | 67 | |
| Winner | check_circle | ||
| Review | TopFX Review |
| Broker Screenshots | IronFX | TopFX | |
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| Regulation | IronFX | TopFX | |
|---|---|---|---|
| Trust Score | 83 | 67 | |
| Year Founded | 2010 | 2010 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 3 | 1 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | IronFX | 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) | 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) | IronFX | 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 | IronFX | TopFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 340 | 655 | |
| Forex Pairs (Total) | 83 | 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 | IronFX | TopFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.2 | 1.03 | |
| All-in Cost EUR/USD - Active | N/A | 0.88 | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | IronFX | TopFX | |
|---|---|---|---|
| Minimum Deposit | $50 | 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 | IronFX | 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) | No | No | |
| cTrader | No | Yes | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | IronFX | 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 | IronFX | 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 | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | IronFX | TopFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | Yes | |
| Economic Calendar | Yes | Yes |
| Education | IronFX | TopFX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | No | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | No | No | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | IronFX | 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 | IronFX | TopFX | |
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| Trust Score | 83 | 67 | |
| Winner | check_circle | ||
| Review | TopFX Review |
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