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TopFX
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TopFX

Cyprus
2010-09-24
1
7.78
Rating Index
Software
8.93
Licensed
6.67
Risk Control
9.19
Experience
9.2
Institution
6.67
Industry Classification
D
Unqualified
Trading Platforms
MT4

Basic Information

  • Registered Region
    Cyprus
  • Operation Status
    Abnormal
  • Operating Period
    2010-09-24
  • Deposit Methods
    Bank Transfer, Credit Card, E-wallet
  • Website
  • Market Type
    Foreign exchange
  • Support Languges
    English
    Chinese
    Arabic
    Turkish
  • Main Business
    FX, commodities, indices, stocks, cryptocurrencies, CFDs
  • Business Type
    FX broker
  • Social Media
  • Contact Details
  • Type of Accounts
    Zero
  • Trading Platforms
    MT4
  • Withdraw Methods
    Neteller, Skrill, Credit Card, Bank Transfer
  • Auto Trading
    EA supported

Pros and Cons

Pros: Regulated by CYSEC; offers high leverage up to 1:1000; low spreads starting from 0.0 pips; multiple account types available. Cons: No swap-free account option; complaints reported regarding withdrawal issues; customer support is not available 24/7.

Company Background

TopFX, established in 2010, is based in Cyprus and operates under the regulation of the Cyprus Securities and Exchange Commission (CYSEC). The broker primarily offers leveraged trading on a diverse range of financial instruments. Over the years, TopFX has established a solid reputation for quality execution and customer service, catering to both individual and institutional clients.

Fund Security

Client funds at TopFX are protected by regulatory measures as imposed by CYSEC. The broker maintains segregated accounts for client funds to ensure that these are kept separate from the Company’s operational funds. However, specific details regarding compensation schemes or insurance coverage are Not disclosed.

Account Opening

TopFX offers three account types: Zero, Raw, and VIP. The Zero account requires no minimum deposit, while the Raw account requires a deposit of $5,000, and the VIP account requires $50,000. The registration process includes verification of identity and proof of residency, typically completed within a few days.

Trading Fees

Trading fees at TopFX include spreads that start as low as 0.0 pips, commissions of $2.75 per side per lot for the Raw account, while the Zero account offers commission-free trading. Additionally, there are no inactivity fees disclosed.

Trading Instruments

TopFX provides access to a wide range of instruments including forex pairs (over 45), commodities, indices, shares, ETFs, and cryptocurrencies. This offers traders ample choice to diversify their portfolios.

Trading Technology

TopFX employs both MT4 and cTrader platforms, which are widely used in the industry for their reliability and functionality. The platforms support automated trading strategies (EAs) and provide various technical analysis tools, ensuring fast execution speeds and order management capabilities.

Research and Education

Educational resources include market analysis tools, webinars, tutorials, and comprehensive trading guides. Although the quality of educational content varies, traders can find valuable insights to help enhance their trading strategies.

Customer Support

Customer support is available via phone, email, and live chat. While support is efficient, it is limited to business hours and is not available 24/7. Response times are generally satisfactory according to user feedback.
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Rating Instructions
Rating Index
TopFX
TopFX
Regulated
Legal Environment
8.93
License Value
6.67
Risk Management
9.19
Investor Protection
9.2
Regulatory Policy
6.67
  • Software

    Evaluates the regulator's legal foundation, organizational structure, leadership experience, and enforcement capacity. Focuses on whether it enforces strict regulations, maintains transparency and fairness, and engages in international cooperation and technological supervision.

  • Institution

    Analyzes the regulator's policy framework, decision-making process, and enforcement transparency, including rule-making, internal control, and policy implementation effectiveness.

  • Licensed

    Assesses the market value of the licenses issued by the regulator, including entry thresholds, compliance costs, approval duration, and overall global recognition and influence.

  • Risk Control

    Evaluates the regulator's financial stability and risk management capacity, including budgeting, reserves, revenues, expenditures, and ability to respond to market or financial shocks.

  • Investor Protection

    Examines the regulator's complaint-handling and investor protection systems, assessing fairness, responsiveness, and enforcement effectiveness in safeguarding investor rights.

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