Written by ForexBrokers.com
In this head to head comparison of Spreadex 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.
Founded in 1999, Spreadex is a well-established online broker that holds one Tier-1 license, marking it in the "average risk" category with a Trust Score of 71 according to ForexBrokers.com. Although not publicly traded nor a bank, Spreadex has carved out a niche in the online trading community over the years. This status indicates a moderate level of safety for those considering trading with them.
TopFX, established in 2010, also holds a single Tier-1 license, which suggests a similar level of credibility in terms of regulatory approval. However, its Trust Score stands at 67, classifying it as "high risk." Like Spreadex, TopFX is not publicly traded and does not operate as a bank. Those who choose TopFX should be aware of its lower trust score, which might be a factor to weigh when deciding between these two online brokers.
| Feature |
Spreadex
|
TopFX
|
|---|---|---|
| Year Founded | 1999 | 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 | 0 | 1 |
Spreadex and TopFX both offer competitive trading environments, yet they differ slightly in their approach to commissions and fees. For Spreadex, the average spread for EUR/USD was 0.81 pips in January 2024, with an impressive minimum spread of 0.6 pips achieved 60% of the time. This pricing model grants traders favorable conditions with minimal costs, earning Spreadex a 4-star rating in the commissions and fees category. Ranked #27 out of 62 brokers according to ForexBrokers.com, Spreadex stands as a strong option for those seeking low spreads consistently.
In contrast, TopFX provides flexibility with two distinct account types: the spread-only ZERO account and the commission-based RAW account. The RAW account, with an average spread of 0.33 pips for EUR/USD during July 2024, incorporates a commission fee of 2.75 EUR per side, reaching an all-in cost of about 0.88 pips. Meanwhile, the ZERO account eliminates commissions but results in a higher average spread of 1.03 pips. The various choices offered by TopFX ensure that traders can pick an account that aligns with their trading needs, earning it a similar 4-star rating. However, its rank of #40 out of 62 brokers indicates it's less favored in this aspect compared to Spreadex.
| Feature |
Spreadex
|
TopFX
|
|---|---|---|
| Minimum Deposit | $0 | Depends on payment method |
| Average Spread EUR/USD - Standard | 0.81 | 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) | No | 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 it comes to the available range of investments, Spreadex and TopFX both offer forex trading as CFDs or spot contracts, catering to traders interested in currency markets. However, Spreadex stands out with a significantly larger number of tradeable symbols, offering 10,000 compared to TopFX's 655. For those specifically focusing on forex pairs, TopFX slightly edges out Spreadex with 60 pairs compared to 52, providing a broader selection for forex enthusiasts.
Neither broker offers direct access to U.S. or international exchange-traded securities, such as shares on the NASDAQ or London Stock Exchange. In the realm of cryptocurrency, both brokers offer cryptocurrency derivatives but do not facilitate the purchase of actual digital coins. TopFX differentiates itself by offering copy trading, a feature absent from Spreadex. With a 5-star rating and a #13 rank by ForexBrokers.com for its range of investments, Spreadex is a leader in the category, while TopFX holds a 3.5-star rating and a #46 ranking.
| Feature |
Spreadex
|
TopFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 10000 | 655 |
| Forex Pairs (Total) | 52 | 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 Spreadex and TopFX in terms of their trading platforms and tools, both brokers offer a range of options to suit different traders. Spreadex provides a proprietary platform developed in-house, allowing users to take advantage of its unique features. Traders looking to practice before diving into real trading have the option of a virtual demo account on both platforms. However, Spreadex is limited to web-based trading, while TopFX offers a Windows-based desktop platform in addition to its web interface. For traders interested in social or copy trading, TopFX provides these features, while Spreadex does not. It's worth noting that neither broker offers MetaTrader 5, DupliTrade, or ZuluTrade integrations.
Charting capabilities are another key consideration for traders. Spreadex offers 11 drawing tools, slightly less than TopFX's 15. Both platforms provide the ability to trade directly from a stock chart. Spreadex edges ahead with its watch lists, offering 8 columns (fields) compared to TopFX's 7. When it comes to overall ratings for trading platforms and tools, both brokers score an equal 4 out of 5 stars. Despite this, TopFX is ranked slightly higher in the Trading Platforms and Tools category on ForexBrokers.com, coming in at #45 compared to Spreadex's #46. This suggests that while both offer commendable trading features, TopFX might have a slight advantage for those who value desktop flexibility and copy trading options.
| Feature |
Spreadex
|
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) | 58 | 30 |
| Charting - Drawing Tools (Total) | 11 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 8 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of Spreadex and TopFX, both brokers provide apps for iPhone and Android, ensuring broad access for users. Both platforms also offer essential features like stock and forex price alerts, the ability to draw trendlines, and viewing multiple time frames on charts. Creating a watchlist with real-time quotes is supported by both apps, but neither platform offers watchlist symbol syncing. This means changes in watchlists made on their mobile apps do not automatically reflect on the client's online accounts.
Where the two brokers differ is in their charting capabilities. TopFX stands out with 30 technical studies available on its mobile app, while Spreadex does not specify a number. Additionally, TopFX's app automatically saves chart drawings, adding convenience for users who need to frequently update their technical analysis. While both brokers have a 4-star rating for their mobile trading apps, Spreadex holds a slightly better rank at #46 compared to TopFX's #51 among 62 brokers assessed by ForexBrokers.com. This ranking might be a subtle indicator of user preference or satisfaction in specific areas not covered by basic app features.
| Feature |
Spreadex
|
TopFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | N/A | 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 Spreadex and TopFX in terms of market research offerings, Spreadex clearly provides some advantages. Spreadex delivers daily market commentary, while TopFX does not offer this feature. Both platforms supply forex news from renowned sources like Bloomberg and Reuters and provide technical analysis tools from Autochartist. However, only TopFX offers resources from Trading Central for advanced technical insights. Both brokers include sentiment-based trading tools, showing a ratio of long or short positions, and present comprehensive economic calendars to track global events. Neither provides market research from TipRanks or tools from Acuity Trading.
In terms of overall research quality, Spreadex is rated higher with a notable four-star rating compared to TopFX, which holds three stars. This is further reflected in their rankings on ForexBrokers.com, where Spreadex ranks 31st out of 62 brokers in the Research category, significantly outperforming TopFX, which is positioned at 59th. This suggests that for those prioritizing market research, Spreadex might be the more appealing choice between the two.
| Feature |
Spreadex
|
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 | 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, Spreadex clearly takes the lead over TopFX. Spreadex provides a rich variety of more than ten educational pieces focused on forex and CFDs, giving beginners ample opportunity to learn. They also offer over ten beginner-focused videos that cover vital trading topics in a straightforward manner. Additionally, Spreadex equips its users with a comprehensive investor dictionary that includes over 50 terms to help demystify the trading world. Although neither Spreadex nor TopFX offers ongoing webinars or advanced educational videos, Spreadex's offerings achieve a commendable four-star rating for education.
In contrast, TopFX falls behind in providing educational content for those just starting their trading journey. Without a sufficient number of beginner or advanced videos and lacking an investor dictionary, TopFX's educational support is more limited. Consequently, TopFX receives a three-star rating for education, placing it near the bottom of rankings at 60 out of 62 brokers. While both platforms have room to grow, Spreadex's commitment to beginner education earns it a higher ranking at 45.
| Feature |
Spreadex
|
TopFX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | 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) | Yes | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that Spreadex is better than TopFX. Spreadex finished with an overall rank of #39, while TopFX finished with an overall rank of #61.
Spreadex is an FCA-regulated broker in the UK, offering forex and CFDs, and is well known for its sports betting business, and proprietary web trading platforms. Spreadex still has considerable room to improve, in key categories such as research and education, compared to the best forex brokers.
| Feature |
Spreadex
|
TopFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 71 | 67 |
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Both Spreadex and TopFX provide the facility to trade cryptocurrency derivatives, yet neither offers the ability to purchase actual, delivered cryptocurrencies.
When comparing online brokers Spreadex and TopFX for deposit and withdrawal options, both support Visa/Mastercard and bank wire transactions, but only TopFX allows funding via PayPal and Skrill, with neither offering 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 | Spreadex | TopFX | |
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| Trust Score | 71 | 67 | |
| Winner | check_circle | ||
| Review | Spreadex Review | TopFX Review |
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| Regulation | Spreadex | TopFX | |
|---|---|---|---|
| Trust Score | 71 | 67 | |
| Year Founded | 1999 | 2010 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes | |
| Tier-1 Licenses | 1 | 1 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Spreadex | 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). | No | Yes |
| Tier-2 Licenses (Trusted) | Spreadex | 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 | Spreadex | TopFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 10000 | 655 | |
| Forex Pairs (Total) | 52 | 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 | Spreadex | TopFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.81 | 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 | Spreadex | TopFX | |
|---|---|---|---|
| Minimum Deposit | $0 | Depends on payment method | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | Spreadex | 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 | Spreadex | TopFX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 8 | 7 | |
| Charting - Indicators / Studies (Total) | 58 | 30 | |
| Charting - Drawing Tools (Total) | 11 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Spreadex | 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 | N/A | 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 | Spreadex | TopFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Spreadex | TopFX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | 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) | Yes | No |
| Major Forex Pairs | Spreadex | 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 | Spreadex Review | TopFX Review |
| Overall | Spreadex | TopFX | |
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| Trust Score | 71 | 67 | |
| Winner | check_circle | ||
| Review | Spreadex Review | TopFX Review |
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