Written by ForexBrokers.com
In this head to head comparison of Swissquote 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.
Swissquote and TopFX are both online brokers, but they differ significantly in their regulatory credentials and trustworthiness. Established in 1996, Swissquote is not only a publicly traded company but also a bank, showcasing its institutional prestige. This broker has earned a Trust Score of 99 from ForexBrokers.com, placing it in the highly trusted category. Swissquote holds five Tier-1 licenses, considered the gold standard in regulatory trust, complemented by one Tier-2 license.
TopFX, founded in 2010, is not publicly traded and does not operate as a bank. Its Trust Score is 67, indicating a higher-risk profile compared to Swissquote. While TopFX maintains one Tier-1 license, it lacks Tier-2 licenses entirely. These differences highlight Swissquote's stronger regulatory position and higher trust rating, especially for those prioritizing security and regulatory oversight in their brokerage choices.
| Feature |
Swissquote
|
TopFX
|
|---|---|---|
| Year Founded | 1996 | 2010 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 5 | 1 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
Swissquote, a renowned name in the banking industry, offers trading services across various entities, including its U.K., Luxembourg, and Swiss branches. While Swissquote presents the reliability of a Swiss bank, it comes with higher trading costs when compared to low-cost forex brokers. The U.K.-based Swissquote Ltd features four account types with different cost structures, offering lower costs and deposit requirements compared to its Swiss and Luxembourg counterparts. The Elite account, designed for active traders with a $10,000 deposit, provides competitive spreads with a $5 commission per round-turn trade. In contrast, the Standard account has higher spreads starting at 1.3 pips on EUR/USD. Swissquote receives a 3.5-star rating for its commissions and fees and ranks #52 out of 62 brokers in this category.
On the other hand, TopFX offers two distinct account types: the spread-only ZERO account and the commission-based RAW account. The RAW account charges a modest commission of 2.75 EUR per side and delivers a combined cost of around 0.88 pips on EUR/USD, aligning with industry standards. The ZERO account, meanwhile, eliminates commissions but results in higher spreads averaging 1.03 pips. Compared to Swissquote, TopFX emerges as a more cost-effective option for traders, earning 4 stars for commissions and fees and securing a rank of #40 out of 62 brokers according to ForexBrokers.com.
Ultimately, while Swissquote offers the prestige of a Swiss banking connection, its fees and pricing structure may not be as appealing to cost-conscious traders. TopFX, with its lower overall costs and flexible account options, represents a compelling choice for those prioritizing affordably trading conditions. Both brokers provide unique advantages, allowing traders to select based on their individual preferences and trading strategies.
| Feature |
Swissquote
|
TopFX
|
|---|---|---|
| Minimum Deposit | $1000 | Depends on payment method |
| Average Spread EUR/USD - Standard | N/A | 1.03 |
| All-in Cost EUR/USD - Active | N/A | 0.88 |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | 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.
Swissquote and TopFX both offer a variety of investment opportunities, but their range of investments differs significantly. Swissquote provides a total of 472 tradeable symbols, while TopFX offers 655. In terms of forex pairs, Swissquote leads with 80 options compared to TopFX's 60. Additionally, Swissquote allows customers to trade exchange-traded securities on U.S. exchanges, granting access to popular stocks like Apple. This option is not available with TopFX, which does not offer trading in exchange-listed securities outside of CFDs.
When it comes to international exchange-traded securities, Swissquote again provides access, which is not an option at TopFX. Both brokers do support copy trading and the trading of cryptocurrency derivatives. However, only Swissquote allows clients to purchase actual cryptocurrencies. These differences contribute to Swissquote earning a higher rating of 5 stars for its range of investments, while TopFX receives 3.5 stars. According to ForexBrokers.com rankings, Swissquote is ranked second out of 62 brokers, while TopFX holds the 46th position.
| Feature |
Swissquote
|
TopFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 472 | 655 |
| Forex Pairs (Total) | 80 | 60 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | Yes | 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.
Swissquote and TopFX both provide free demo accounts, allowing new users to practice trading without financial risk. Swissquote stands out with its in-house developed platform, giving it a proprietary edge, while offering a comprehensive selection of platforms including MetaTrader 4 and 5. Conversely, TopFX utilizes widely-used third-party platforms but lacks MT5 support. Both brokers ensure accessibility with Windows-based desktop platforms and web-based options that allow for flexibility in trading across devices.
When it comes to tools and features, Swissquote leads with an impressive array of 75 drawing tools for charting, compared to TopFX's 15. They both support trading directly from stock charts, enhancing user convenience. For watchlist customization, Swissquote provides 11 columns against TopFX's 7, allowing for more detailed tracking of market movements. Overall, Swissquote earns a higher rating, with 4.5 stars for trading platforms and tools, ranking #11 out of 62 brokers. In contrast, TopFX holds a slightly lower rating at 4 stars, placing it at #44 in the same category.
| Feature |
Swissquote
|
TopFX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 86 | 30 |
| Charting - Drawing Tools (Total) | 75 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 11 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both Swissquote and TopFX provide comprehensive mobile trading apps for iPhone and Android users, making them accessible to a wide range of investors. These apps enable you to stay updated with stock and forex price alerts and provide you with the flexibility to create a watchlist featuring real-time quotes. Additionally, both platforms offer 30 technical studies within their charting tools, the ability to draw trendlines, and options to view different time frames such as daily, weekly, or intraday. Furthermore, the convenience of auto-saving chart drawings enhances the user experience. However, a notable limitation shared by both is the lack of watchlist symbol syncing, which means changes made in the app won't sync with the desktop version of your account.
When it comes to user satisfaction ratings, Swissquote edges ahead slightly with a 4.5-star rating for its mobile trading app, compared to TopFX, which has a 4-star rating. This difference is also reflected in their rankings by ForexBrokers.com—Swissquote is ranked 10th out of 62 brokers, while TopFX holds the 51st position. These rankings suggest that while both apps offer similar core functionalities, Swissquote seems to provide a slightly more appreciated user experience in the mobile trading app landscape.
| Feature |
Swissquote
|
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 evaluating market research features, Swissquote provides investors with valuable daily market commentary, positioning itself as a comprehensive choice for traders who want constant updates. On the other hand, TopFX does not offer this service. Both Swissquote and TopFX supply forex news from top-tier sources such as Bloomberg and Reuters, ensuring clients have access to quality news. While both brokers offer tools from Autochartist for technical analysis, when it comes to resources from Trading Central, only TopFX provides this additional layer of market insight. However, TopFX surpasses Swissquote by offering a sentiment-based trading tool, which shows the ratio of long or short positions across various currency pairs. Neither broker provides research tools from Acuity Trading or market research from TipRanks.
Swissquote and TopFX both feature economic calendars to keep traders informed of upcoming global economic events. Despite some similarities between their offerings, Swissquote holds a higher overall research rating with four out of five stars, compared to TopFX's three-star rating. This distinction is reflected in their ForexBrokers.com rankings, where Swissquote is positioned at #16 out of 62 brokers in the Research category, while TopFX is notably lower at #59. These factors make Swissquote a stronger contender for traders focused on research capabilities.
| Feature |
Swissquote
|
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 | No | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When exploring educational resources for beginners in forex and CFDs trading, Swissquote stands out compared to TopFX. Swissquote offers a comprehensive suite of educational materials, including a minimum of ten educational pieces like articles, videos, and webinars focused on forex or CFDs. This is complemented by monthly live online educational webinars, a rich archive of recorded webinars, and a collection of both beginner and advanced trading videos. Additionally, Swissquote provides an investor dictionary featuring over fifty investing terms, making it a user-friendly choice for novice traders. With a strong education rating of four stars, Swissquote is ranked 21st out of 62 brokers by ForexBrokers.com for its educational offering.
On the other hand, TopFX provides fewer educational resources for beginners. The platform does not meet the benchmark of ten educational pieces dedicated to forex or CFDs and lacks regular online webinars or a searchable archive of past webinars. For beginners eager to watch educational videos, TopFX falls short, offering neither a selection of beginner nor advanced videos. Moreover, TopFX does not supply an extensive investor dictionary. Consequently, it has garnered a lower education rating of three stars and ranks 60th among brokers in the education category, according to ForexBrokers.com.
| Feature |
Swissquote
|
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 Swissquote is better than TopFX. Swissquote finished with an overall rank of #11, while TopFX finished with an overall rank of #61.
Traders choose Swissquote for its quality research and vast multi-asset offering – as long as they are willing to pay a premium to have their brokerage account held with a Swiss bank.
| Feature |
Swissquote
|
TopFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 67 |
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Swissquote provides the option to buy both actual delivered cryptocurrencies and cryptocurrency derivatives, whereas TopFX only offers the ability to purchase cryptocurrency derivatives.
Swissquote and TopFX both provide multiple options for depositing and withdrawing account funds, including PayPal, Skrill, Visa, Mastercard, and bank wires, but Swissquote offers a broader range of funding methods by supporting ACH and SEPA transfers, which TopFX does not.
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 | Swissquote | TopFX | |
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| Trust Score | 99 | 67 | |
| Winner | check_circle | ||
| Review | Swissquote Review | TopFX Review |
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| Regulation | Swissquote | TopFX | |
|---|---|---|---|
| Trust Score | 99 | 67 | |
| Year Founded | 1996 | 2010 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 5 | 1 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Swissquote | TopFX | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | No | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | Yes | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | Yes | 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) | Swissquote | 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) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Swissquote | TopFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 472 | 655 | |
| Forex Pairs (Total) | 80 | 60 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | Yes | 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 | Swissquote | TopFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | N/A | 1.03 | |
| All-in Cost EUR/USD - Active | N/A | 0.88 | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | Swissquote | TopFX | |
|---|---|---|---|
| Minimum Deposit | $1000 | 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 | Yes | No |
| Trading Platforms | Swissquote | TopFX | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | No | Yes | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Swissquote | TopFX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 11 | 7 | |
| Charting - Indicators / Studies (Total) | 86 | 30 | |
| Charting - Drawing Tools (Total) | 75 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Swissquote | 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 | Swissquote | 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 | No | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Swissquote | 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 | Swissquote | 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 | Swissquote Review | TopFX Review |
| Overall | Swissquote | TopFX | |
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| Trust Score | 99 | 67 | |
| Winner | check_circle | ||
| Review | Swissquote Review | TopFX Review |
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