An International Asset Management Company – Specializing in FX Investments and Liquidity Provision. Read our TopFX Review.
TopFX is an online Forex brokerage firm that has far more strings to its bow than simply offering clients the opportunity to trade Forex. It is an international asset management company that specialises not only in Forex investments but in liquidity provision too. It first launched itself onto the public, in 2010, and promised to provide Forex strategies that would far outweigh the performance of other forms of investment, such as government bonds, physical assets, and equities. It aims its services at institutional clients and private investors. With a great deal of emphasis on becoming an introducing broker. But rather than concentrate on this very specific product, we’ll be looking at some of the other offers from TopFX brokers.
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Is TopFX licensed and regulated?
TopFX has its main office in Limassol, and as such is licensed and regulated by CySEC. It also holds a cross border licence which allows the company to provide investment and ancillary services to EU member states, as well as 75 third countries. TopFX works in accordance with all applicable EU and local regulations. These include MiFID (Markets in Financial Instruments Directive) and the Cyprus Investment Services and Activities and Regulated Markets Law of 2007.
TopFX is proud to offer IBs and clients something different with the cTrader trading platform
TopFX is giving clients the opportunity to take advantage of a trading platform that gives something a little different than MetaTrader 4. They are currently running a cTrader Startup Special Offer. The offer includes use of the best trading platform suite, and a Tier 1 liquidity solution. They have priced the package competitively to give new market entrants a bit of a head start. Not something to be turned down in such a competitive industry. The Introducing Broker program, introduced in 2015 by TopFX, gives professional FX affiliates and Introducing Brokers the opportunity to refer clients to TopFX. This bring a number of great benefits, as TopFX is one of the biggest Prime Brokers in Europe, with in excess of 825 million NOP limit. Retail FX traders get to experience institutional level trading with a very small deposit, competitively tight spreads, swift STP execution and flexible leverage.
What are the benefits of a TopFX trading account?
There is only one account to choose from with TopFX. Minimum deposit is just $200 USD or the equivalent base currency. Leverage can be as much as 1:500, depending on the type of instrument chosen to trade with. Currency pairs have a leverage of up to 1:500, for oil and metals it is up to 1:100, indices it is up to 1:200, and equities up to 1:20. The spreads at TopFX are variable, starting at 1.5 pips, and there is the promise of no commissions or additional fees. This broker operates an agency STP execution model, and has no dealing desk to get in the way. This also ensures no conflict of interest for the broker, in respect of their client. And as TopFX is a Prime brokerage firm, clients can enjoy deep liquidity from more than 12 Tier 1 banks and a guaranteed negative balance protection.
Opening an account is easy with TopFX
You might think that opening an account with such a high level broker would be rather complicated, but we were pleasantly surprised when we tried to do it. There is a simple to complete application form, and a number of documents to be provided to prove identity. Accounts can be opened in EUR, USD, CHF, JPY, and GBP, and our account was approved within 24 hours. Once the account is opened, new clients are supported by the customer support team and given unlimited access to a very user-friendly client area.
Funding a trading account is pretty stress free as well. A number of different payment methods are supported including wire transfers, credit and debit cards, Skrill, Neteller, Webmoney, and China Union Pay. The latest SSL technology is used to encrypt all sensitive personal and financial data, so you can be confident your details will remain confidential. There are no fees levied by TopFX for deposits, but some of the third party payment providers may make a charge. Unless a deposit is made via wire transfer, funds will appear in a trading account straight away. According to the regulations, clients funds are deposited in Tier 1 bank account, which means they don’t appear on the balance sheet, and are out of the way of creditors and can’t be used by TopFX for its own purposes.
Other features provided by TopFX
As TopFX is a Prime broker, there are a number of other services it is able to provide. These include:
- Deep Forex liquidity for brokers and other regulated financial institutions
- Asset management service using their own in-house strategy, monitored by professional traders