Written by ForexBrokers.com
In this head to head comparison of TeleTrade 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.
TeleTrade and TopFX are both established players in the online brokerage world, with TeleTrade having a longer history since its founding in 1994 compared to TopFX, which was founded in 2010. Neither company is publicly traded nor operates as a bank. In terms of regulatory credentials, both brokers hold one Tier-1 license, reflecting a level of high trust as per ForexBrokers.com's rating system.
When it comes to trust scores, TeleTrade edges out with a score of 71, falling into the average risk category, while TopFX has a slightly lower score of 67, placing it in the high-risk category. Neither broker holds any Tier-2 licenses. These trust scores and regulatory standings provide a basis for potential customers to evaluate the relative safety and reliability of these two online brokerage services.
| Feature |
TeleTrade
|
TopFX
|
|---|---|---|
| Year Founded | 1994 | 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 |
When comparing the commissions and fees of TeleTrade and TopFX, both online brokers offer a compelling choice for traders, each with its distinct pricing structure. TeleTrade is rated 4 out of 5 stars for its commissions and fees, although specific average spread data is unavailable, making a direct comparison with its peers slightly challenging. In terms of ranking, TeleTrade positions at #46 out of 62 brokers according to ForexBrokers.com.
TopFX, also rated 4 out of 5 stars for commissions and fees, provides more clarity in its cost structure. It presents two main account types available on both MetaTrader and cTrader platforms: the ZERO account, which is spread-only and commission-free, and the RAW account, which incurs a commission. For the RAW account, the commission is 2.75 EUR per side (5.50 EUR for a round turn on a standard lot). Added to this is an average spread of 0.33 pips, resulting in all-in costs of approximately 0.88 pips for the EUR/USD pair, aligning with industry norms. Conversely, the ZERO account, while commission-free, carries a higher average spread of 1.03 pips on the EUR/USD. TopFX ranks slightly better than TeleTrade at #40 out of 62 brokers on ForexBrokers.com for commissions and fees.
| Feature |
TeleTrade
|
TopFX
|
|---|---|---|
| Minimum Deposit | $100 | 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 | No | No |
| PayPal (Deposit/Withdraw) | No | 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.
Both TeleTrade and TopFX provide opportunities for forex trading as either CFDs or spot contracts. TeleTrade offers a total of 500 tradeable symbols, including 61 forex pairs, whereas TopFX expands its range slightly with 655 tradeable symbols and 60 forex pairs. Neither broker offers direct trading of exchange-traded securities on U.S. or international exchanges, such as purchasing Apple shares or Vodafone stocks. However, both brokers support copy trading, which allows users to replicate the trades of experienced investors. Additionally, when it comes to cryptocurrencies, both offer cryptocurrency derivatives but not the direct acquisition of actual cryptocurrencies.
Despite these similarities, each broker has a few distinguishing features. TeleTrade is rated 3.5 stars for its range of investments and is ranked #45 by ForexBrokers.com in this category, while TopFX shares the same 3.5-star rating but is ranked slightly below at #46. Choosing between them may come down to personal preference in tradeable instruments or specific trading features, as their offerings are largely comparable in their investment range. These brokers stand as viable options for traders seeking comprehensive forex and CFD investment opportunities without venturing into direct stock or cryptocurrency ownership.
| Feature |
TeleTrade
|
TopFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 500 | 655 |
| Forex Pairs (Total) | 61 | 60 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | No |
| Social Trading / Copy Trading | Yes | 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 the trading platforms and tools offered by TeleTrade and TopFX, both online brokers provide similar features that cater to different trading needs. To start, both brokers offer simulated trading through free virtual demo accounts, making them beginner-friendly. They do not have proprietary platforms but support industry-standard options like MetaTrader 4, applicable for both brokers, while MetaTrader 5 is unique to TeleTrade. They each offer a Windows-based desktop download platform and a web-based trading platform, ensuring flexibility in how you can access your trades. Additionally, both brokerages provide copy trading, although only TeleTrade supports ZuluTrade, offering more diversified third-party integrations.
Trading on TeleTrade or TopFX comes with identical offerings in some charting tools, as they both provide 15 drawing tools. Each platform allows trading directly from a stock chart, enhancing user experience for active traders. When it comes to customizing watch lists, both platforms offer seven columns for users to organize their fields. In terms of user ratings, both brokers are valued equally with four out of five stars for their trading platforms and tools. However, when ranked by ForexBrokers.com, TopFX edges out slightly ahead at #44 compared to TeleTrade's ranking at #51 among 62 brokers assessed. This slight difference in rankings may influence your choice based on preferred platform reliability and user satisfaction.
| Feature |
TeleTrade
|
TopFX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | No | 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 | Yes | No |
| Charting - Indicators / Studies (Total) | 35 | 30 |
| Charting - Drawing Tools (Total) | 15 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
TeleTrade and TopFX both offer mobile trading apps for iPhone and Android, enabling users to trade on the go. Both apps allow users to receive stock and forex price alerts, as well as create watchlists with real-time quotes. However, neither broker supports watchlist symbol syncing, meaning any changes made to a watchlist on the app do not sync with the user's online account. For technical charting capabilities, TeleTrade offers 35 technical studies, slightly edging out TopFX which provides 30. Both platforms support drawing trendlines and allow users to view stock and forex charts in multiple time frames, such as daily, weekly, or intraday, with the convenience of auto-saving these drawings for future reference.
In terms of user satisfaction, both TeleTrade and TopFX are rated four stars for their mobile trading apps. Despite this equal rating, TeleTrade slightly surpasses TopFX in ForexBrokers.com's Mobile Trading Apps rankings, securing the 25th spot out of 62 brokers, whereas TopFX ranks 51st. Overall, both brokers offer comprehensive tools for mobile trading, with TeleTrade’s marginally higher technical offerings and ranking position giving it a slight edge in the competitive landscape.
| Feature |
TeleTrade
|
TopFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 35 | 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 it comes to market research, TeleTrade and TopFX both have distinct strengths. TeleTrade offers daily market commentary, providing users with regular insights on market trends. It also supplies forex news from well-known sources like Bloomberg and Reuters, contributing to informed decision-making. Additionally, TeleTrade includes an economic calendar that highlights important global news events. However, it falls short in offering advanced technical analysis tools or sentiment-based trading tools, which might limit traders looking for detailed analysis capabilities.
TopFX, on the other hand, does not provide daily market commentary but does include forex news from major outlets like Bloomberg and Reuters. A standout feature of TopFX is its access to technical and fundamental analysis tools from Autochartist and Trading Central, along with sentiment-based tools, supporting traders in technical decision-making. TopFX also offers an economic calendar similar to TeleTrade. Despite these tools, TopFX is rated slightly lower for research quality, with a 3-star rating compared to TeleTrade's 3.5 stars, and is ranked #59 by ForexBrokers.com compared to TeleTrade's higher position at #38.
| Feature |
TeleTrade
|
TopFX
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | 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 comparing the educational resources available for beginners at TeleTrade and TopFX, both brokers do not provide a minimum of 10 educational pieces focused on forex or CFDs, nor do they offer monthly online educational webinars. Additionally, neither has an archive of recorded webinars, and they lack a significant number of beginner-friendly videos on trading topics. Even advanced educational videos aimed at more experienced traders are absent from both platforms. Furthermore, neither broker offers an investor dictionary with definitions of common investing terms.
Despite these limitations, TeleTrade receives a slightly higher education rating of 3.5 out of 5 stars, compared to TopFX's 3 stars. In terms of educational ranking by ForexBrokers.com, TopFX stands at #60, marginally ahead of TeleTrade, which is ranked at #61 out of 62 brokers. While both brokers show room for improvement in educating traders, these ratings suggest that users may find TeleTrade slightly more beneficial for educational purposes, albeit with limited offerings available.
| Feature |
TeleTrade
|
TopFX
|
|---|---|---|
| Education (Forex or CFDs) | No | No |
| Client Webinars | No | No |
| Client Webinars (Archived) | No | No |
| Videos - Beginner Trading Videos | No | No |
| Videos - Advanced Trading Videos | No | 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 TeleTrade is better than TopFX. TeleTrade finished with an overall rank of #50, while TopFX finished with an overall rank of #61.
TeleTrade was an early pioneer of mobile apps for finance, then became a forex and CFD broker, now offering the MetaTrader platform. With just one regulatory license, Teletrade has a lower Trust Score than more established forex brokers.
| Feature |
TeleTrade
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TopFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 71 | 67 |
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Both TeleTrade and TopFX provide the opportunity to invest in cryptocurrency derivatives, but neither offers the option to purchase actual delivered cryptocurrency.
While both TeleTrade and TopFX offer Skrill, Visa, Mastercard, and bank wire options for depositing and withdrawing funds, only TopFX provides PayPal as a method, whereas neither broker supports 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 | TeleTrade | TopFX | |
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| Trust Score | 71 | 67 | |
| Winner | check_circle | ||
| Review | TopFX Review |
| Broker Screenshots | TeleTrade | TopFX | |
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| Regulation | TeleTrade | TopFX | |
|---|---|---|---|
| Trust Score | 71 | 67 | |
| Year Founded | 1994 | 2010 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | 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) | TeleTrade | 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) | No | 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) | TeleTrade | 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 | TeleTrade | TopFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 500 | 655 | |
| Forex Pairs (Total) | 61 | 60 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | No | |
| Social Trading / Copy Trading | Yes | 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 | TeleTrade | 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 | No | No | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | TeleTrade | TopFX | |
|---|---|---|---|
| Minimum Deposit | $100 | Depends on payment method | |
| PayPal (Deposit/Withdraw) | No | 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 | TeleTrade | TopFX | |
|---|---|---|---|
| Proprietary Platform | No | 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 | Yes | No |
| Trading Tools | TeleTrade | TopFX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 7 | |
| Charting - Indicators / Studies (Total) | 35 | 30 | |
| Charting - Drawing Tools (Total) | 15 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | TeleTrade | 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 | 35 | 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 | TeleTrade | TopFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | Yes | |
| Economic Calendar | Yes | Yes |
| Education | TeleTrade | TopFX | |
|---|---|---|---|
| Education (Forex or CFDs) | No | No | |
| Client Webinars | No | No | |
| Client Webinars (Archived) | No | No | |
| Videos - Beginner Trading Videos | No | No | |
| Videos - Advanced Trading Videos | No | No | |
| Investor Dictionary (Glossary) | No | No |
| Major Forex Pairs | TeleTrade | 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 | TopFX Review |
| Overall | TeleTrade | TopFX | |
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| Trust Score | 71 | 67 | |
| Winner | check_circle | ||
| Review | TopFX Review |
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