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 offers a competitive structure for its commissions and fees, particularly for traders interested in EUR/USD currency pairs. In January 2024, Spreadex provided an average spread of 0.81 pips, with a notable minimum spread of 0.6 pips that was achieved 60% of the time, making it an attractive choice for cost-conscious traders. Spreadex is rated 4 out of 5 stars for its commissions and fees and ranks #30 out of 62 brokers according to ForexBrokers.com, which reflects a strong position in the industry.
TopFX, on the other hand, presents traders with options tailored to their strategies through its two account types available on MetaTrader and cTrader platforms. The RAW account, which is commission-based, incurs a fee of 2.75 EUR per side, culminating in an all-in cost of approximately 0.88 pips for EUR/USD when combining average spreads with commission. Alternatively, the ZERO account offers commission-free trading but comes with higher average spreads of 1.03 pips for the same currency pair. With a rating of 4 out of 5 stars, TopFX ranks #40 out of 62 brokers on ForexBrokers.com, indicating a solid yet distinct position in the market.
| 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 for their trading platforms and tools, both brokers impress with their offerings of simulated trading through free virtual demo accounts, allowing traders to practice without risk. Spreadex provides a proprietary trading platform but lacks a desktop download option, while TopFX leverages the widely recognized MetaTrader 4 with a Windows-based platform. Both brokers feature accessible web-based platforms for trading convenience. However, TopFX has a leg up with copy trading options, something not available at Spreadex. Neither broker supports advanced external platforms like MetaTrader 5, DupliTrade, or ZuluTrade.
Charting capabilities differ slightly, with Spreadex offering 11 drawing tools compared to TopFX's 15, though both allow trades directly from stock charts. In terms of watch lists, Spreadex provides 8 customizable columns, whereas TopFX offers 7. Rated 4 stars each for their trading platforms and tools, Spreadex and TopFX are neck and neck in customer evaluations. However, TopFX is ranked slightly higher at #44 compared to Spreadex's #46 in the Trading Platforms and Tools category by ForexBrokers.com. Overall, both brokers cater well to different trading preferences, making the choice a matter of specific platform needs.
| 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.
Both Spreadex and TopFX provide mobile trading apps for iPhone and Android users, catering to traders looking for convenient on-the-go trading solutions. Each app offers stock and forex price alerts, along with the ability to create watchlists featuring real-time quotes, which is essential for active traders monitoring the markets. However, neither app offers watchlist symbol syncing, meaning adjustments made in the mobile app will not automatically reflect in the trader's online account. One distinct advantage of the TopFX app is its support for 30 technical studies in charting, whereas Spreadex does not specify the number offered.
When it comes to charting tools, both apps allow users to draw trendlines and view multiple time frames, enhancing the ability to conduct technical analysis. However, only TopFX automatically saves chart drawings, a useful feature for traders who frequently update their charts. Despite these differences, both broker apps receive a solid 4-star rating for mobile trading, indicating a positive user experience overall. Interestingly, Spreadex is ranked slightly higher at #49 compared to TopFX's #51 in ForexBrokers.com's rankings for mobile trading apps, suggesting a slight edge in user satisfaction or app features from this review source.
| 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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