Written by ForexBrokers.com
In this head to head comparison of Plus500 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.
Plus500, founded in 2008, is a well-regarded online broker with a strong regulatory standing. It is publicly traded and holds an impressive total of six Tier-1 licenses, which are considered highly trusted, along with three Tier-2 licenses. With a perfect Trust Score of 99 out of 99 from ForexBrokers.com, Plus500 ranks as a highly trusted broker for online trading, ensuring users a secure and reliable platform. Importantly, Plus500 is not a bank but is still notable for its high level of trustworthiness.
In comparison, TopFX, established in 2010, is a privately-held broker that holds one Tier-1 license, reflecting limited highly trusted regulatory recognition. Lacking any Tier-2 licenses, TopFX falls into the high-risk category with a ForexBrokers.com Trust Score of 67, indicating significant caution for potential users. Like Plus500, TopFX is not a bank, but its regulatory standing suggests a need for careful consideration when choosing to trade with them.
| Feature |
Plus500
|
TopFX
|
|---|---|---|
| Year Founded | 2008 | 2010 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 6 | 1 |
| Tier-2 Licenses | 3 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
When comparing the commissions and fees between Plus500 and TopFX, there are some notable differences. Plus500's pricing is slightly above the industry average, with EUR/USD spreads averaging 1.5 pips in April 2024. They do not offer discounts to retail clients, although Professional clients might benefit from cash rebates similar to an active trader program. Plus500 is rated 4.0 stars for commissions and fees by ForexBrokers.com and is ranked 25th out of 62 brokers in this category.
TopFX provides two types of accounts: the spread-only ZERO account and the commission-based RAW account. The ZERO account incurs no commission but has higher average spreads of 1.03 pips on the EUR/USD for July 2024. Meanwhile, the RAW account incurs a commission of 2.75 EUR per side, totaling 5.50 EUR per round turn standard lot. With an average spread of 0.33 pips, the all-in cost becomes around 0.88 pips, aligning with the industry norm. TopFX also holds a 4-star rating from ForexBrokers.com for their commissions and fees but is ranked lower at 40th among 62 brokers.
In summary, Plus500 might not be as attractive for active traders seeking competitive pricing. Its EUR/USD spreads are relatively high, despite a solid rating and ranking. Conversely, TopFX's RAW account offers more competitive costs for frequent traders due to lower spreads despite the commission, positioning it as an appealing option for traders comfortable with MetaTrader or cTrader platforms.
| Feature |
Plus500
|
TopFX
|
|---|---|---|
| Minimum Deposit | €100 | Depends on payment method |
| Average Spread EUR/USD - Standard | 1.5 | 1.03 |
| All-in Cost EUR/USD - Active | 1.5 | 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.
Plus500 and TopFX both offer forex trading as CFDs or spot contracts, catering to investors interested in currency market trading. Plus500 boasts an impressive 5,500 tradeable symbols, significantly more than TopFX's 655 symbols. Although both brokers provide extensive forex pairs, Plus500 edges out TopFX with 65 pairs compared to 60. Furthermore, Plus500 clients can participate in trading exchange-traded securities on both U.S. and international exchanges, allowing them to invest in companies like Apple and Vodafone. Conversely, TopFX does not offer such trading opportunities.
In terms of cryptocurrencies, both brokers provide options for trading derivatives rather than purchasing actual currencies, which may appeal to derivative traders. One key difference is Plus500's lack of copy trading functionality, whereas TopFX supports it, making it a preferred choice for investors who like to mimic the strategies of seasoned traders. Overall, Plus500 earns a higher rating of 4.5 stars for its range of investments compared to TopFX's 3.5 stars. Plus500 is also ranked higher, placing at #24 among 62 brokers surveyed by ForexBrokers.com, while TopFX stands at #46.
| Feature |
Plus500
|
TopFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 5500 | 655 |
| Forex Pairs (Total) | 65 | 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). Non-CFD share trading at Plus500 is only available through the Plus500 Invest account. | 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 it comes to trading platforms and tools, Plus500 and TopFX present distinct features catered to different types of traders. Plus500 stands out with its proprietary web-based platform that supports free virtual demo accounts, making it an accessible choice for beginners seeking a user-friendly experience without requiring a desktop download. It emphasizes simplicity, offering 22 drawing tools for charting, and allows for comprehensive watch lists with up to 10 fields. However, it does not support popular platforms such as MetaTrader 4 (MT4) or MetaTrader 5 (MT5), nor does it offer copy trading or direct trading from stock charts.
TopFX, on the other hand, caters to traders who prefer more traditional setups with its Windows-based desktop platform and compatibility with MT4, a favorite among seasoned traders. It supports copy trading, providing more flexibility and options for those looking to mimic successful trading strategies. Although it offers fewer drawing tools at 15, TopFX does enable trading directly from stock charts, which can be a significant advantage for those who trade based on real-time data. Plus500 is rated slightly higher with 4.5 stars compared to TopFX's 4 stars in trading platforms and tools, reflecting its more streamlined interface, despite TopFX's richer platform ecosystem.
| Feature |
Plus500
|
TopFX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | 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) | 114 | 30 |
| Charting - Drawing Tools (Total) | 22 | 15 |
| Charting - Trade From Chart | No | Yes |
| Watchlists - Total Fields | 10 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both Plus500 and TopFX offer mobile trading apps for iPhone and Android users, enabling seamless trading on the go. You can receive price alerts and keep tabs on stock or forex markets from either app. One standout feature of the Plus500 app is its ability to sync watchlist symbols with the user's online account, ensuring any changes are updated across platforms. In comparison, while TopFX provides a competent experience, it lacks this particular syncing capability.
For traders who deeply analyze charts, Plus500 might be the more appealing option, boasting 110 technical studies compared to TopFX’s 30. Both apps allow for drawing trendlines and accessing multiple time frames, but TopFX has the advantage of automatically saving such drawings. Despite this, Plus500 shines with a higher mobile app rating of 4.5 stars, compared to TopFX's 4 stars. Plus500 also ranks higher at number 14 out of 62 brokers in the Mobile Trading Apps category, while TopFX is positioned at 51. Overall, both apps provide essential trading features, but Plus500 offers a more comprehensive suite for mobile traders.
| Feature |
Plus500
|
TopFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 110 | 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 Plus500 and TopFX, several notable differences emerge. Plus500 distinguishes itself by providing daily market commentary, a feature not available with TopFX. However, when it comes to forex news from top-tier sources, TopFX takes the lead by offering updates from prominent names like Bloomberg and Reuters, which Plus500 does not. Both brokers provide valuable tools from Trading Central, but only TopFX includes additional features from Autochartist, setting it apart for advanced analysis enthusiasts. Sentiment-based trading tools and economic calendars are available on both platforms, aiding traders in making informed decisions with valuable data on global events.
Overall, Plus500 is rated higher for its research offerings, earning 4 out of 5 stars compared to TopFX's 3-star rating. In a larger comparison of 62 brokers, Plus500 ranks at position 19 for its research capabilities, whereas TopFX falls significantly lower at rank 59. This suggests that while both brokers offer some overlapping tools, Plus500 provides a more comprehensive research experience according to industry rankings and reviews.
| Feature |
Plus500
|
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 comparing Plus500 and TopFX, beginners looking for educational resources will find Plus500 to be the more resourceful choice. Plus500 provides a wealth of educational materials including over ten articles, videos, and archived webinars focused on forex and CFDs. It also offers monthly online educational webinars and maintains a searchable archive where users can access past sessions. Plus500 covers a variety of skill levels by offering more than ten beginner videos as well as advanced content for experienced traders, making it a comprehensive source of knowledge for all levels of trading proficiency.
On the other hand, TopFX falls short in the educational department, offering fewer resources tailored to beginners. The absence of monthly webinars, archived records, and a minimum threshold of beginner and advanced educational videos limits its accessibility for new traders seeking to enhance their understanding of trading. Both brokers lack an investor dictionary, which could further enrich their educational offerings. In terms of recognitions, Plus500 edges out with a 4.0-star rating and stands at 31 out of 62 brokers for education, while TopFX is rated at 3 stars and ranks at 60, highlighting a significant difference in their educational offerings.
| Feature |
Plus500
|
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) | No | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that Plus500 is better than TopFX. Plus500 finished with an overall rank of #14, while TopFX finished with an overall rank of #61.
Plus500 is a trusted global brand that offers an easy-to-use trading platform for online traders, alongside access to a thorough selection of CFDs. Share trading is available, but only via its Plus500 Invest product offering.
| Feature |
Plus500
|
TopFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 67 |
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Both Plus500 and TopFX do not offer the ability to buy actual (delivered) cryptocurrency, but they do provide options for purchasing cryptocurrency derivatives.
Both Plus500 and TopFX offer convenient options like PayPal, Skrill, Visa, and Mastercard for depositing and withdrawing funds, as well as bank wire transfers, but neither support 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 | Plus500 | TopFX | |
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| Trust Score | 99 | 67 | |
| Winner | check_circle | ||
| Review | Plus500 Review | TopFX Review |
| Broker Screenshots | Plus500 | TopFX | |
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| Regulation | Plus500 | TopFX | |
|---|---|---|---|
| Trust Score | 99 | 67 | |
| Year Founded | 2008 | 2010 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 6 | 1 | |
| Tier-2 Licenses | 3 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | Plus500 | 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) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | Plus500 | TopFX | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | Yes | 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 | Plus500 | TopFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 5500 | 655 | |
| Forex Pairs (Total) | 65 | 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). Non-CFD share trading at Plus500 is only available through the Plus500 Invest account. | 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 | Plus500 | TopFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.5 | 1.03 | |
| All-in Cost EUR/USD - Active | 1.5 | 0.88 | |
| Active Trader or VIP Discounts | No | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | Plus500 | 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 | Plus500 | 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 | Plus500 | TopFX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 10 | 7 | |
| Charting - Indicators / Studies (Total) | 114 | 30 | |
| Charting - Drawing Tools (Total) | 22 | 15 | |
| Charting - Trade From Chart | No | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Plus500 | 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 | 110 | 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 | Plus500 | 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 | Plus500 | 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) | No | No |
| Major Forex Pairs | Plus500 | 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 | Plus500 Review | TopFX Review |
| Overall | Plus500 | TopFX | |
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| Trust Score | 99 | 67 | |
| Winner | check_circle | ||
| Review | Plus500 Review | TopFX Review |
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