At TopFX, they ensure that you get a fair-trading environment without artificial slippage, requotes or price manipulation. Due to the brokers decade-long experience in liquidity services, they have significantly diminished trade latency with most orders being executed within 30 milliseconds. They can deliver to you the same superior level of execution stability as institutional clients. I would always expect to receive stable, uninterrupted price feeds without downtime, gaps or spikes. There are zero spread accounts with competitive commission fees applied which are beneficial if you are an intraday trader, scalper or using automated strategies.
Which Account Types Are Available with TopFX?
Moreover, the scope of TopFX’s educational content is rather limited. When trading Contracts for Difference (CFDs), positions can be opened for a fraction of their value because of leverage. Essentially, the broker lends the trader money so that they can open bigger positions. Leverage multiplies the profits a trader generates from winning positions but also the losses incurred from failed trades.
TopFX’s cTrader platform offers a more advanced trading environment for those who need more sophisticated tools and features. TopFX emphasizes transparency in its Islamic account, allowing traders to trade confidently, knowing their activities align with their religious beliefs. The Raw account offers value to cost-conscious traders who demand high execution standards. However, managing commission costs is essential to avoid eroding potential profits. The Raw account is clearly for traders who prioritize tight spreads and are comfortable paying commissions. TopFX’s IB Program is designed to provide competitive and flexible ways to earn by referring clients.
You can start and stop copying with one click and adjust how much money you’ve allocated to a strategy in real-time. The ability to replicate the trades of successful traders has opened up the trading world to many. TopFX recognizes this and has integrated copy trading into its platform through cTrader Copy and MT4 PAMM.
What trading instruments does TopFX offer?
The Raw Account has a clear commission of $2.75 per lot per side, with no hidden fees. The Zero and VIP accounts avoid commissions altogether, focusing on spreads for trading costs. With spreads from 0.2 pips and no commissions, the VIP Account is designed for active traders.
What types of traders does TopFX serve?
- TopFX processes withdrawals within one business day, but it can take longer for traders to receive their funds.
- The key takeaway is that while TopFX offers competitive spreads for major instruments, costs can increase when dealing with more volatile or less liquid assets.
- DayTrading.com is committed to helping traders of all levels make informed decisions about which broker to trade with.
- I assessed that TopFX’s fees are fair and competitive, except for extreme cases such as the crude oil spread on the Zero account.
It requires a language selection, name, e-mail, country, and phone number. TopFX provides education via free webinars in English and Farsi, and my TopFX review found 57 webinars to date. Traders using cTrader also get a volume-based rebate of $1 per $200,000, or 2.0 lots, in trading volume. The automatic stop-out applies once the margin level drops to 35% in MT4 or 30% in cTrader. Above all, our experts assess whether a broker is trustworthy, taking into account their regulatory credentials, account safeguards, and reputation in the industry. It operates under the regulatory oversight of multiple authorities.
Customer Reviews
- However, it’s important to note that fees can vary depending on the account type and the specific instruments being traded.
- Choose from a wide range of cBots, including Trend, Range, and strategy-based bots.
- Based on our research, TopFX has an Introducing Broker (IB) program that seems like a rewarding avenue for individuals or businesses to generate income by referring clients to their platform.
Some regulators mandate compliance with the strictest financial frameworks, while others are less rigid. That is why traders must familiarize themselves with the safety mechanisms ensured by the entity they want to open an account. In our reviews, we examine the licenses and regulations of each entity operated by a broker, allowing us to compare their different levels of protection. We rank licenses by various regulatory bodies on a three-tier system, where Tier-1 licensing indicates the highest level of regulation. Copy-trading appeals topfx reviews to traders with little or no trading expertise, as well as those who do not have the time to trade their own method. Even if you have an established strategy, you may choose to utilise a mix or compare the performance of your approach to that of a copied plan.
Measures for Protecting Client Funds
The broker provides you with a good selection of educational resources, including PRs & Interviews, Events, Market Holidays, Trading Articles, and Videos. However, I feel it would be nice if the broker had provided seminars, webinars, and podcasts because these resources help beginners interact and learn from professionals. One of the most valuable features I’ve found using TopFX is the access to technical analysis and trading ideas from third-party providers Autochartist and Trading Central, directly within cTrader.
Fraud Broker
However, the Raw account has a comparatively high minimum deposit requirement of $5,000. Additionally, the first two withdrawals are free of handling fees, but subsequent withdrawals may incur fees depending on the payment method used. Algo traders can use Expert Advisors (EAs) both on MT4 and cTrader. Moreover, the cTrader platform offers hundreds of downloadable algorithms and an option for custom programming.
Yes, due to the limited selection of base currencies, there may be extra conversion fees for deposits and withdrawals. We also evaluate the overall design of the mobile experience, and look for a fluid user experience moving between mobile and desktop platforms. ForexBrokers.com has been reviewing online forex brokers for over eight years, and our reviews are the most cited in the industry.
When assessing customer support, we first look at how easy it is for clients to contact the broker. Overall, TopFX does a commendable job catering to different trading experience levels. We think a more structured progression path from beginner to advanced tools could help traders develop their skills more systematically. These commodities offer traders opportunities to diversify their portfolios and potentially hedge against inflation or economic uncertainty. TopFX also emphasizes tight spreads and the choice between Raw and Zero accounts for commodities trading.