Score

5.94 /10
Average

TOPFX

Regulated in Cyprus

Market Making License (MM)

cTrader

Suspicious Operational Region

High Potential Risk

C

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Score

Regulatory Index6.67

Business Index8.00

Risk Management Index0.00

Software Index7.43

License Index6.32

The broker's WikiFX Score has been lowered due to a high volume of unresolved client complaints.
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Website

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

open now

Regulatory disclosure

Danger

MY SCM
2022-01-01

Broker Information

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Company Name

TopFX

Company Abbreviation

TOPFX

Platform registered country and region

Cyprus

Company website

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Company summary

Pyramid scheme complaint

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WikiFX Risk Alerts 2
Previous Detection : 2026-06-14
  • This broker has accumulated 1 negative field survey reviews on WikiFX. Please be aware of the risk and guard against potential fraud.
  • WikiFX has received 4 investor complaints against this broker. Please be aware of the risks.

WikiFX Verification

Pyramid scheme complaint
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    TOPFX · Company summary
    TopFX Review Summary
    Founded2019-11-27
    Registered Country/RegionCyprus
    RegulationRegulated
    Market InstrumentsForex, Indices, Shares, Metals, Energies, Cryptocurrencies, ETFs
    Demo Account
    LeverageUp to 1:1000
    SpreadFrom 0.0 pips(Average Spreads-EURUSD: 0.11)
    Trading PlatformcTrader, MT4 (Windows, Android, iOS)
    Min DepositNo min. deposit
    Customer SupportT:+248 4374705
    E: support@topfx.com.sc
    Facebook, Instagram, LinkedIn, Telegram
    Live Chat

    TopFX Information

    TopFX is a broker that specializes in access to 600+ CFDs on forex, indices, shares, metals, energies, ETFs, and cryptocurrencies. The broker also provides up to 1000x max leverage and a demo account. The minimum spread is from 0.0 pips. Traders can also access the MT4 and cTrader trading platforms through TopFX.

    TopFX Information

    Pros and Cons

    Pros Cons
    RegulatedNo swap-free account
    Leverage up to 1:1000Some negative voices: unable to withdrawal
    Spread from 0.0 pipsNo 24/7 customer support
    MT4 available
    600+ CFDs

    Is TopFX Legit?

    TopFX is authorized and regulated by the Cyprus Securities and Exchange Commission(CYSEC) with license No.138/11. The license type is Market Making(MM), making it safer than unregulated.

    Is TopFX Legit?
    Is TopFX Legit?

    What Can I Trade on TopFX?

    TopFX offers various market instruments, including forex, indices, shares, metals, energies, ETFs, and cryptocurrencies.

    Tradable Instruments Supported
    Forex
    Indices
    Shares
    Metals
    Energies
    Cryptocurrencies
    ETFs
    What Can I Trade on TopFX?

    Account Type

    TopFX has three live account types: Zero, Raw, and VIP. Traders who want low spreads and don't mind commission can choose a Raw account, while those with a sufficient budget can open a VIP account.

    In addition, the demo account is predominantly used to familiarize traders with the trading platform and for educational purposes only.

    Account Type ZeroRawVIP
    CurrencyUSD, EUR, GBP, JPYUSD, EUR, GBP, JPYUSD, EUR, GBP, JPY
    Spread from1 pip0 pip0.2 pip
    Min. DepositNo min. deposit*$5000$50000
    Leverage1:10001:1000Up to 1:1000
    Commission$0$2.75 per side per lot$0

    TopFX Fees

    The spread starts from 0.0 pips and the commission is from zore. The lower the spread, the faster the liquidity.

    Leverage

    The maximum leverage is 1:1000 meaning that profits and losses are magnified 1000 times.

    Trading Platform

    Traders can conduct financial activities in MT4 and cTrader, available on Windows, Android, and iOS through TopFX. Investors can trade on mobile and tablet with the TopFX cTrader app and MT4. cTrader also supports Desktop & web versions.

    Copy trading is also available, a way for inexperienced traders or followers who dont have the time to do extensive research or want to diversify their portfolio to copy the trades of experienced traders (also known as money managers or copy trading gurus).

    Trading PlatformSupported Available Devices Suitable for
    cTraderWindows, Android, iOSAll
    MT4Windows, Android, iOSJunior traders
    Trading Platform

    Deposit and Withdrawal

    The first deposit amount is no limit. TopFX accepts bank payments, electronic payments, and QR payments for deposits and withdrawals. Electronic payments and QR payments can receive funds instantly, while bank payments can be processed within 5 days.

    News

    ExposureTopFX Regulation Review: Safety, License and Compliance

    TopFX is a regulated broker under CySEC, holding Market Maker license No.138/11 since 2011.

    WikiFX
    2026-01-06 16:45
    TopFX Regulation Review: Safety, License and Compliance

    ExposureIs TopFX Legit or a Scam? 5 Key Questions Answered (2025)

    You are probably looking at TopFX and wondering, "Is this broker actually safe to use, or will they run away with my money?" It is the most important question you need to ask before making a deposit.

    WikiFX
    2026-01-05 19:00
    Is TopFX Legit or a Scam? 5 Key Questions Answered (2025)

    NewsTopFX Launches Synthetic Indices Trading on cTrader Platform

    TopFX introduces synthetic indices trading on its cTrader platform, offering 24/7 access, stable volatility, and innovative features for traders seeking speed and simplicity.

    WikiFX
    2025-08-12 15:27
    TopFX Launches Synthetic Indices Trading on cTrader Platform

    NewsJoin TopFX "June Demo Competition" ASAP

    TopFX, a regulated forex broker, has officially announced its Synthetics June Demo Competition, giving traders a chance to win a share of $5,000 in real prizes.

    WikiFX
    2025-05-28 18:26
    Join TopFX "June Demo Competition" ASAP

    User Reviews

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    User comment

    16

    Comments

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    FX1725697211
    0-3months
    My account was terminated on 11/05/2026 and my remaining balance of USD 4,253 was withheld. I had been trading normally for several months as a strategy provider on cTrader, generating consistent profits for my copiers through regular trading activity including wins, losses and stop losses. TopFX processed my withdrawal of USD 2,100 on 07/05/2026 without issue. Five days later my account was terminated and remaining funds blocked. Their official email stated the reason was that I had withdrawn more than I deposited – which is not a valid clause in their Terms and Conditions. As a strategy provider, my trading performance was fully transparent and verifiable. Despite generating strong returns for followers through legitimate trading, my account was terminated and funds withheld without valid justification. I have submitted a formal settlement request which was rejected. TopFX then offered a settlement of only USD 500 for my balance of USD Total: $4253 ($1500 in account, $2753 in wallet)
    My account was terminated on 11/05/2026 and my remaining balance of USD 4,253 was withheld. I had been trading normally for several months as a strategy provider on cTrader, generating consistent profits for my copiers through regular trading activity including wins, losses and stop losses. TopFX processed my withdrawal of USD 2,100 on 07/05/2026 without issue. Five days later my account was terminated and remaining funds blocked. Their official email stated the reason was that I had withdrawn more than I deposited – which is not a valid clause in their Terms and Conditions. As a strategy provider, my trading performance was fully transparent and verifiable. Despite generating strong returns for followers through legitimate trading, my account was terminated and funds withheld without valid justification. I have submitted a formal settlement request which was rejected. TopFX then offered a settlement of only USD 500 for my balance of USD Total: $4253 ($1500 in account, $2753 in wallet)
    Translate to English
    2026-05-22 18:45
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    FX1924921592
    more than one year
    تقيم: (⭐⭐⭐⭐☆ 4/5) TopFX وسيط موثوق يوفر سبريد منخفض، تنفيذ سريع، ومنصات تداول قوية مثل cTrader وMT4. مناسب للأفراد والشركات، لكنه قد لا يكون الأفضل للمبتدئين بسبب خيارات الرافعة المالية العالية.
    تقيم: (⭐⭐⭐⭐☆ 4/5) TopFX وسيط موثوق يوفر سبريد منخفض، تنفيذ سريع، ومنصات تداول قوية مثل cTrader وMT4. مناسب للأفراد والشركات، لكنه قد لا يكون الأفضل للمبتدئين بسبب خيارات الرافعة المالية العالية.
    Translate to English
    2025-03-15 11:34
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