TopForex Review – solid oferring of assets with not so great spreads

TopForex is a forex broker that offers CFDs on stocks, indices and commodities in addition to currency pairs. Learn more about CFDs here. TopForex is a registered trademark of Goldenburg Group Ltd, this company is licensed in Europe by the Cypriot regulatory authority CySEC, so the broker can legally offer its services there. The minimum deposit at TopForex broker is set at $100.

TopForex Review – Broker overview

Minimum deposit100 USD
PlatformMT5
Regulated brokerYes
RegulationsCySEC
Demo accountYes

Special features and advantages

Automatic Trading (EAs)

Trading platform

TopForex offers its clients the MT5 trading platform. This platform is the successor of the most popular forex platform MT4. This new modern platform serves very well not only for opening and closing trades, but also for analyzing the markets. MT5 also supports automated trading systems (EAs). You can either trade with it directly from a web browser, or you can download the platform to your computer or mobile device.

TopForex - brokerage comparison - platform
TopForex - brokerage comparison - platform

TopForex fees (spreads)

Just like any other CFD broker, TopForex charges a spread fee. For the current value of this fee, please visit the TopForex website. We have prepared a small comparison table here, where you can find the amount of TopForex spread fees on popular currency pairs in comparison with 2 other popular CFD brokers.


EUR/USD
EUR/USDUSD/JPYGBP/USDAUD/USD
Plus500*0.60.71.10.6
XTB*0.81.42.01.7
TopForex**3.03.03.04.0
*the spread values were gathered from the brokers’ trading platform 26/09/2019
**the spread value was gathered from the broker’s trading platform 28/09/2021

TopForex – Review Summary

TopForex must comply with the strict regulatory guidelines of the CySEC regulatory authority. Clients of the broker can use an unlimited free demo account and MT5 platform. The spreads that the broker charges are quite high and not very attractive compared to competing brokers. On the other hand, the broker has a solid number of CFD products on offer.

Advantages

  • Relatively strict regulation
  • Wide asset range
  • MetaTrader 5

Disadvantages

  • Minimum withdrawal set at 250 USD
  • Higher spreads than some competitors

TopForex Review – Broker rating

Our Score

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