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.
When comparing Swissquote and TopFX, the details highlight significant differences in their trustworthiness and regulatory standing. Founded in 1996, Swissquote stands out with a Trust Score of 99, making it highly trusted according to ForexBrokers.com. As a publicly traded bank, Swissquote holds the upper hand with 5 Tier-1 licenses and 2 Tier-2 licenses, ensuring an extra layer of security and confidence for investors.
In contrast, TopFX, established in 2010, has a Trust Score of 67, categorizing it as a high-risk broker. Unlike Swissquote, TopFX is not publicly traded and is not a bank, which might be a consideration for those seeking maximum reliability. It holds just 1 Tier-1 license and lacks any Tier-2 licenses, indicating a lower level of regulatory protection. This contrast reflects the importance of evaluating both trust scores and regulatory approvals when choosing an online broker.
| Feature |
Swissquote
|
TopFX
|
|---|---|---|
| Year Founded | 1996 | 2010 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 5 | 1 |
| Tier-2 Licenses | 2 | 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.
When comparing the trading platforms and tools offered by Swissquote and TopFX, both brokers provide users with the opportunity for simulated trading through free virtual demo accounts. Swissquote stands out with its proprietary trading platform, developed in-house, while TopFX does not offer a proprietary option. For those concerned with platform availability, both brokers support Windows-based desktop downloads and web-based trading interfaces. Copy trading is available with both Swissquote and TopFX, along with support for the popular MetaTrader 4 (MT4). However, Swissquote also provides access to MetaTrader 5 (MT5), which TopFX does not.
Swissquote offers a more extensive suite of charting tools, featuring 75 drawing tools compared to TopFX's 15. Both brokers allow trading directly from stock charts, but Swissquote users can benefit from more detailed watch lists, with 11 columns available versus TopFX's 7. When rated for trading platforms and tools, Swissquote scores 4.5 out of 5 stars, outperforming TopFX's 4-star rating. This difference is reflected in their ForexBrokers.com rankings, with Swissquote securing the 12th spot out of 62 brokers in the category, while TopFX is positioned at 44th.
| 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 robust mobile trading platforms compatible with iPhone and Android devices. Users of both apps can receive price alerts for stocks and forex, create watchlists with real-time quotes, and utilize 30 technical studies for charting. Each app supports drawing trendlines and offers multiple time frame views. Additionally, any drawings made on charts are automatically saved for future reference. However, neither app allows for watchlist symbol syncing, meaning changes to watchlists on the app do not update a user's online account and vice versa.
When it comes to user satisfaction and ranking, Swissquote holds a slight edge. It is rated at 4.5 stars compared to TopFX's 4 stars. Additionally, Swissquote is ranked 11th out of 62 brokers in the Mobile Trading Apps category by ForexBrokers.com, whereas TopFX falls at 51st place. Therefore, while both apps offer comparable features in many areas, Swissquote is generally viewed more favorably by experts and users alike.
| 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 |
|
|
| Trust Score | 99 | 67 |
| Range of Investments |
|
|
| Commissions & Fees |
|
|
| Platform & Tools |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
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.
Select Brokers
↓×Compare
0 of 5| Overall Rating | Swissquote | TopFX | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platform & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 99 | 67 | |
| Winner | check_circle | ||
| Review | Swissquote Review | TopFX Review |
| Broker Screenshots | Swissquote | TopFX | |
|---|---|---|---|
| Trading Platforms Gallery (click to expand) |
|
| |
| Mobile Trading Gallery (click to expand) |
|
| |
| Research Gallery (click to expand) |
|
| |
| Education Gallery (click to expand) |
|
|
| 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 | 2 | 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) | Yes | 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 | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platform & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 99 | 67 | |
| Winner | check_circle | ||
| Review | Swissquote Review | TopFX Review |
IG
CMC Markets
FOREX.com
XTB
eToro
AvaTrade
Plus500
Pepperstone
FP Markets
Tickmill