Written by ForexBrokers.com
In this head to head comparison of Swissquote vs TopFX, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
When comparing Swissquote and TopFX, the details highlight significant differences in their trustworthiness and regulatory standing. Founded in 1996, Swissquote stands out with a Trust Score of 99, making it highly trusted according to ForexBrokers.com. As a publicly traded bank, Swissquote holds the upper hand with 5 Tier-1 licenses and 2 Tier-2 licenses, ensuring an extra layer of security and confidence for investors.
In contrast, TopFX, established in 2010, has a Trust Score of 67, categorizing it as a high-risk broker. Unlike Swissquote, TopFX is not publicly traded and is not a bank, which might be a consideration for those seeking maximum reliability. It holds just 1 Tier-1 license and lacks any Tier-2 licenses, indicating a lower level of regulatory protection. This contrast reflects the importance of evaluating both trust scores and regulatory approvals when choosing an online broker.
| Feature |
Swissquote
|
TopFX
|
|---|---|---|
| Year Founded | 1996 | 2010 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 5 | 1 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
When comparing Swissquote and TopFX for commissions and fees, it's important to note that Swissquote appeals to those desiring the security of a Swiss banking conglomerate, though its trading costs are not the most competitive. Swissquote's U.K. entity offers lower costs compared to its Swiss and Luxembourg branches. The U.K. accounts include options like the Elite account, which is suitable for active traders who can deposit at least $10,000, providing lower spreads and a $5 charge per round-turn trade. Conversely, the Standard account with spreads starting at 1.3 pips on EUR/USD is less favorable. Overall, Swissquote garners a 3.5-star rating and ranks 53rd for commissions and fees among 63 brokers.
TopFX presents a straightforward fee structure, offering two main account types: the spread-only ZERO account and the commission-based RAW account. The RAW account charges a commission of 2.75 EUR per side, translating to a total average cost of 0.88 pips for EUR/USD, which aligns with the industry average. The commission-free ZERO account has higher spreads, averaging 1.03 pips. This transparent pricing and the competitive fees of the RAW account contribute to TopFX receiving a 4-star rating and securing the 40th position in the rankings for commissions and fees, making it a potentially more cost-effective choice for traders.
| Feature |
Swissquote
|
TopFX
|
|---|---|---|
| Minimum Deposit | $1000 | Depends on payment method |
| Average Spread EUR/USD - Standard | N/A | 1.03 |
| All-in Cost EUR/USD - Active | N/A | 0.88 |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
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When comparing the range of investments offered by Swissquote and TopFX, both brokers provide forex trading through CFDs or spot contracts, allowing flexibility in trading options. Swissquote presents a selection of 472 tradeable symbols, including 80 forex pairs, surpassing TopFX's offering of 655 tradeable symbols but with fewer forex pairs at 60. Notably, Swissquote distinguishes itself by providing access to exchange-traded securities on both U.S. and international exchanges, enabling clients to buy stocks like Apple and Vodafone. In contrast, TopFX does not offer access to exchange-traded securities, limiting its investment options in this regard.
Swissquote supports both the purchase of actual cryptocurrency and cryptocurrency derivatives, broadening investment possibilities for digital asset traders. TopFX offers only cryptocurrency derivatives, narrowing choices for those interested in direct crypto investments. Both platforms facilitate copy trading, catering to users interested in mirroring successful trades. Swissquote's range of investments has earned it a top-tier rating of 5 stars from ForexBrokers.com and a rank of #2 out of 63 brokers, underscoring its comprehensive market offerings. Conversely, TopFX holds a 3.5-star rating and ranks #46 in the same category, reflecting a more limited selection of investment products.
| Feature |
Swissquote
|
TopFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 472 | 655 |
| Forex Pairs (Total) | 80 | 60 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | Yes | No |
| Cryptocurrency (Derivative) | Yes | Yes |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
Dive deeper: Best Copy Trading Platforms.
When comparing Swissquote to TopFX, both brokers offer free virtual demo accounts for simulated trading and provide web-based and Windows-based desktop trading platforms. However, Swissquote stands out with its proprietary platform developed in-house, giving it a unique edge. In contrast, TopFX relies on external trading platforms. While both brokers support MetaTrader 4, Swissquote also expands its offerings with MetaTrader 5, enabling more advanced trading opportunities, which TopFX lacks. Swissquote supports useful features like copy trading, just as TopFX does, but neither broker offers platforms like DupliTrade or ZuluTrade for enhanced strategy automation.
Swissquote shines with its wealth of visual tools, offering 75 drawing tools for charting compared to TopFX's 15, and allows more customization with 11 columns available for watchlists against TopFX's 7. This assortment of tools and customization options contributes to Swissquote's higher rating of 4.5 stars for trading platforms and tools, compared to TopFX’s 4 stars. Swissquote also ranks much higher, placing 12th out of 63 brokers, while TopFX sits further behind at 45th. This indicates that Swissquote offers a more comprehensive platform experience, appealing to traders seeking more diverse tools and superior functionality.
| Feature |
Swissquote
|
TopFX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 86 | 30 |
| Charting - Drawing Tools (Total) | 75 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 11 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When choosing between Swissquote and TopFX for mobile trading, both brokers offer apps for iPhone and Android, providing stock and forex price alerts and the ability to create watchlists with real-time quotes. Both apps support 30 technical studies for chart analysis and allow users to draw trendlines and view charts in various time frames, such as daily or weekly. However, neither app provides watchlist symbol syncing across platforms. An advantage with both apps is the auto-saving feature for drawings, ensuring that your technical analysis is retained for future reference.
In terms of user satisfaction and industry rankings, Swissquote generally outranks TopFX. Swissquote earns a higher customer rating of 4.5 stars, compared to TopFX's 4 stars, and gains a more favorable position by ForexBrokers.com, ranking 12th out of 63, whereas TopFX ranks at 51. These distinctions may guide those who value professional reputation and user feedback in their decision between these two mobile trading platforms.
| Feature |
Swissquote
|
TopFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing Swissquote and TopFX in terms of market research capabilities, Swissquote stands out by offering daily market commentary alongside forex news from prestigious sources such as Bloomberg and Reuters. Both brokers provide access to tools from Autochartist, known for their technical and fundamental analysis features, but Swissquote lacks the additional insights from Trading Central, which TopFX offers. This could appeal to traders who rely heavily on technical analytics.
However, TopFX provides a sentiment-based trading tool that shows market positions, a feature Swissquote does not offer. Both brokers include economic calendars to keep traders informed of global events. When evaluating their service, Swissquote garners a 4-star research rating compared to TopFX's 3-stars. According to ForexBrokers.com, Swissquote is ranked 16th out of 63 brokers for research, while TopFX is notably lower at 60th. Overall, for traders prioritizing comprehensive research, Swissquote emerges as a more resourceful option.
| Feature |
Swissquote
|
TopFX
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | No | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
If you're new to trading and looking for educational resources, Swissquote and TopFX offer varying levels of support to help you get started. Swissquote excels in providing a rich array of educational materials, including more than ten pieces focused on forex and CFDs, a number of beginner videos, and also advanced educational content. They host online webinars monthly and even have a searchable archive of these webinars for later viewing. This makes it easy for beginners to catch up on any missed sessions. Additionally, Swissquote offers an investor dictionary with more than 50 terms to aid in building your trading vocabulary.
In contrast, TopFX falls short in this area, lacking the extensive educational resources that Swissquote provides. They do not meet the minimum requirement of ten educational pieces on forex or CFDs, nor do they offer regular webinars or a searchable archive for clients. Similarly, you'll find a shortage of both beginner and advanced educational videos. An investor dictionary isn't available either. These limitations are reflected in their education ratings, with Swissquote earning 4 out of 5 stars while TopFX receives 3 out of 5. According to ForexBrokers.com, Swissquote holds a respectable 21st rank out of 63 brokers for educational resources, while TopFX ranks much lower at 61st. If educational resources are a critical factor in your choice of an online broker, Swissquote is clearly the more robust option.
| Feature |
Swissquote
|
TopFX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | Yes | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that Swissquote is better than TopFX. Swissquote finished with an overall rank of #11, while TopFX finished with an overall rank of #62.
Traders choose Swissquote for its quality research and vast multi-asset offering – as long as they are willing to pay a premium to have their brokerage account held with a Swiss bank.
| Feature |
Swissquote
|
TopFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 67 |
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Swissquote provides the option to buy both actual delivered cryptocurrencies and cryptocurrency derivatives, whereas TopFX only offers the ability to purchase cryptocurrency derivatives.
Swissquote and TopFX both provide multiple options for depositing and withdrawing account funds, including PayPal, Skrill, Visa, Mastercard, and bank wires, but Swissquote offers a broader range of funding methods by supporting ACH and SEPA transfers, which TopFX does not.
Please note:
We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.
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0 of 5| Overall Rating | Swissquote | TopFX | |
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| Trust Score | 99 | 67 | |
| Winner | check_circle | ||
| Review | Swissquote Review | TopFX Review |
| Broker Screenshots | Swissquote | TopFX | |
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| Regulation | Swissquote | TopFX | |
|---|---|---|---|
| Trust Score | 99 | 67 | |
| Year Founded | 1996 | 2010 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 5 | 1 | |
| Tier-2 Licenses | 2 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Swissquote | TopFX | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | No | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | Yes | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | Yes | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | Swissquote | TopFX | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Swissquote | TopFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 472 | 655 | |
| Forex Pairs (Total) | 80 | 60 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | Yes | No | |
| Cryptocurrency (Derivative) | Yes | Yes | |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
| Cost | Swissquote | TopFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | N/A | 1.03 | |
| All-in Cost EUR/USD - Active | N/A | 0.88 | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | Swissquote | TopFX | |
|---|---|---|---|
| Minimum Deposit | $1000 | Depends on payment method | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | Swissquote | TopFX | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | No | Yes | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Swissquote | TopFX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 11 | 7 | |
| Charting - Indicators / Studies (Total) | 86 | 30 | |
| Charting - Drawing Tools (Total) | 75 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Swissquote | TopFX | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 30 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Swissquote | TopFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Swissquote | TopFX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | Swissquote | TopFX | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| Review | Swissquote Review | TopFX Review |
| Overall | Swissquote | TopFX | |
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| Trust Score | 99 | 67 | |
| Winner | check_circle | ||
| Review | Swissquote Review | TopFX Review |
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