Written by ForexBrokers.com
In this head to head comparison of Xtrade 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.
Xtrade and TopFX, both online brokers, provide services in the financial market, but their trust ratings and regulatory credentials differ. Xtrade, founded in 2003, and TopFX, established in 2010, are not publicly traded and neither operates as a bank. Regarding regulatory credentials, both brokers boast one Tier-1 license, aligning them with the highly trusted benchmarks set by ForexBrokers.com. However, Xtrade edges ahead with an additional Tier-2 license, which contributes to a higher Trust Score of 74, categorizing it as average risk.
In comparison, TopFX holds a Trust Score of 67, reflecting a higher risk classification. The absence of a Tier-2 license further distinguishes it from Xtrade in terms of regulatory strength. Though both brokers share commonalities, such as their non-publicly traded status, Xtrade's regulatory portfolio and higher Trust Score make it a potentially more appealing option for those placing a premium on established trust in the brokerage landscape.
| Feature |
Xtrade
|
TopFX
|
|---|---|---|
| Year Founded | 2003 | 2010 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 1 | 1 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
Xtrade is rated 2.5 stars in the Commissions and Fees category, ranking last out of 62 brokers on ForexBrokers.com. Unfortunately, detailed information about their average spreads is not publicly available, which makes it challenging to fully assess their cost effectiveness compared to the competition.
In contrast, TopFX stands out with a 4-star rating and ranks 40th out of 62 brokers for its commissions and fees. TopFX offers two main account types: the ZERO account, which is spread-only with no commission, and the RAW account, which is commission-based. For the RAW account, traders experience a commission of 2.75 EUR per side (or 5.50 EUR per round turn) alongside an average spread of 0.33 pips on the EUR/USD pair, leading to an all-in cost of approximately 0.88 pips. This figure aligns with the industry average, offering competitive pricing for its users. Alternatively, the ZERO account removes commission fees but has slightly higher average spreads of around 1.03 pips for the same currency pair.
| Feature |
Xtrade
|
TopFX
|
|---|---|---|
| Minimum Deposit | $250 | 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 | No | 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.
When comparing the investment options offered by Xtrade and TopFX, both platforms provide traders with the opportunity to engage in forex trading via CFDs or spot contracts, ensuring flexibility in currency trading. Xtrade offers a total of 482 tradeable symbols, while TopFX provides a slightly larger selection with 655 symbols. In terms of forex pairs, Xtrade offers 56, with TopFX offering a marginally greater variety at 60 pairs. Neither broker permits clients to purchase exchange-traded securities on U.S. or international exchanges, limiting their offerings to other financial instruments.
One notable feature of TopFX is its provision of copy trading, which is absent from Xtrade's services. As for cryptocurrency trading, both brokers allow clients to engage with cryptocurrency derivatives, although neither offers the option to buy actual delivered cryptocurrencies. Despite these differences, both Xtrade and TopFX receive a similar rating of 3.5 stars for their range of investments. In rankings by ForexBrokers.com, TopFX slightly edges out Xtrade, positioned at 46th compared to Xtrade's 49th in the Range of Investments category out of 62 brokers.
| Feature |
Xtrade
|
TopFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 482 | 655 |
| Forex Pairs (Total) | 56 | 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.
Xtrade and TopFX both provide comprehensive trading platforms and tools suitable for beginner and seasoned traders alike. Xtrade distinguishes itself by offering its proprietary trading platform, a unique feature not available with TopFX, which instead opts for universal solutions like the MetaTrader 4 platform. While Xtrade lacks a Windows-based desktop platform, it compensates with a flexible web-based option that parallels TopFX's offering. Both brokers extend free virtual demo accounts, allowing users to experience simulated trading in a risk-free environment.
TopFX stands out in areas such as copy trading, a feature absent from Xtrade's offerings. Additionally, traders may appreciate the access to the MetaTrader 4 platform through TopFX, although neither broker supports MetaTrader 5 or partnered services like DupliTrade and ZuluTrade. When it comes to charting tools, Xtrade offers a more extensive selection of drawing tools with 100 options compared to TopFX's 15, supporting versatile technical analyses. Moreover, Xtrade allows users to trade directly from stock charts and provides nine fields for watch lists versus TopFX's seven. According to ForexBrokers.com rankings, TopFX scores slightly higher with a trading platform and tools rating of 4 stars and a rank of #44 out of 62 brokers, while Xtrade garners a 3.5-star rating and ranks #58 for this category.
| Feature |
Xtrade
|
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) | N/A | 30 |
| Charting - Drawing Tools (Total) | 100 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 9 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of Xtrade and TopFX, both brokers offer apps for iPhone and Android, making them accessible to a wide range of users. While both platforms support these devices, the differences in their features could influence your choice. TopFX stands out with the ability to send stock or forex price alerts, a crucial feature not available with Xtrade. Additionally, TopFX offers more advanced charting capabilities, providing 30 technical studies and the option to draw trend lines. This is enhanced by the ability to view charts in multiple time frames—features that Xtrade does not include.
TopFX excels further by allowing automatic saving of chart drawings and the capability to create watchlists with real-time quotes, contributing to an enhanced user experience. Despite these advanced features, both Xtrade and TopFX share a mobile app rating of 4 stars out of 5. In the rankings by ForexBrokers.com, TopFX takes a slightly higher position at #51 compared to Xtrade's #53 out of 62 brokers. This comparison indicates that while both platforms receive similar ratings, TopFX offers a wider array of tools for active traders seeking detailed market analysis on the go.
| Feature |
Xtrade
|
TopFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | No | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | N/A | 30 |
| Mobile Charting - Draw Trendlines | No | Yes |
| Mobile Charting - Multiple Time Frames | No | Yes |
| Mobile Charting - Drawings Autosave | No | Yes |
| Mobile Watchlist | No | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing the market research offerings between Xtrade and TopFX, there are some notable distinctions that could influence trader preferences. Xtrade provides daily market commentary and access to top-tier forex news sources like Bloomberg and Reuters, helping keep traders informed with timely updates. In contrast, TopFX does not offer daily market commentary but does offer forex news from similar high-quality sources. Both brokers provide an economic calendar, which is crucial for traders focusing on global events. However, Xtrade lacks advanced technical analysis tools from companies like Autochartist and Trading Central, which are available through TopFX, along with a sentiment-based trading tool that gives insight into market positions.
In terms of research quality, Xtrade earns a higher overall rating of 3.5 stars compared to TopFX’s 3 stars, according to ForexBrokers.com. Xtrade is ranked #52 out of 62 brokers for research offerings, while TopFX is placed at #59. This ranking suggests Xtrade holds a slight edge in research capabilities. However, neither broker provides specialized market research tools from companies like TipRanks or Acuity Trading. Depending on a trader’s priorities, the availability of daily commentary and other specific tools will play a crucial role in deciding which broker aligns best with their research needs.
| Feature |
Xtrade
|
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 Xtrade and TopFX on the educational resources they provide for beginners, Xtrade takes the lead by a narrow margin. Xtrade offers a selection of educational content focused on forex and CFDs, providing more than ten articles and related materials on these topics. Additionally, Xtrade stands out by offering a comprehensive investor dictionary with over 50 investing term definitions, which can be a valuable tool for those new to trading. However, Xtrade does not provide regular webinars, a searchable webinar archive, or a set of beginner-focused educational videos.
In contrast, TopFX falls short of meeting the minimum offering of educational materials dedicated to forex or CFDs for beginners. It also lacks regular client webinars and a video collection tailored specifically for novice traders. Without an investor dictionary to support learning and research, TopFX provides a more limited scope of educational resources. In the rankings by ForexBrokers.com, Xtrade is rated with 3.5 stars for education and holds the 46th position out of 62 brokers, whereas TopFX has a slightly lower rating of 3 stars and ranks 60th, indicating a weaker educational offering in comparison to Xtrade.
| Feature |
Xtrade
|
TopFX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | 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) | Yes | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that Xtrade is better than TopFX. Xtrade finished with an overall rank of #59, while TopFX finished with an overall rank of #61.
Xtrade offers forex and CFD traders its own newly updated and redesigned trading platform, yet with just below 500 symbols that you can trade and recent regulatory issues it trails behind the best forex brokers.
| Feature |
Xtrade
|
TopFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 74 | 67 |
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Both Xtrade and TopFX do not offer the ability to buy actual delivered cryptocurrency, but they do allow trading in cryptocurrency derivatives.
When comparing online brokers Xtrade and TopFX in terms of deposit and withdrawal options, neither supports ACH or SEPA transfers, Xtrade lacks PayPal support unlike TopFX, both offer Skrill, Visa or Mastercard, and bank wire transactions.
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 | Xtrade | TopFX | |
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| Trust Score | 74 | 67 | |
| Winner | check_circle | ||
| Review | Xtrade Review | TopFX Review |
| Broker Screenshots | Xtrade | TopFX | |
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| Regulation | Xtrade | TopFX | |
|---|---|---|---|
| Trust Score | 74 | 67 | |
| Year Founded | 2003 | 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 | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | Xtrade | 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) | Xtrade | TopFX | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Xtrade | TopFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 482 | 655 | |
| Forex Pairs (Total) | 56 | 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 | Xtrade | 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 | No | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | Xtrade | TopFX | |
|---|---|---|---|
| Minimum Deposit | $250 | 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 | Xtrade | 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 | Xtrade | TopFX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | No | Yes | |
| Watchlists - Total Fields | 9 | 7 | |
| Charting - Indicators / Studies (Total) | N/A | 30 | |
| Charting - Drawing Tools (Total) | 100 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | No | Yes |
| Mobile Trading | Xtrade | TopFX | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | No | Yes | |
| Mobile Watchlist | No | Yes | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | N/A | 30 | |
| Mobile Charting - Draw Trendlines | No | Yes | |
| Mobile Charting - Multiple Time Frames | No | Yes | |
| Mobile Charting - Drawings Autosave | No | Yes | |
| Mobile Economic Calendar | No | Yes |
| Research | Xtrade | 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 | Xtrade | TopFX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | 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) | Yes | No |
| Major Forex Pairs | Xtrade | 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 | Xtrade Review | TopFX Review |
| Overall | Xtrade | TopFX | |
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| Trust Score | 74 | 67 | |
| Winner | check_circle | ||
| Review | Xtrade Review | TopFX Review |
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