To get started with trading, a comprehensive guide to topfx trading platform is needed. This platform is designed to be user-friendly and allows you to deposit with no commission. It also supports all major currencies, as well as WeChat and DivenPay. The website also lists its registered address. Its live chat support is available around the clock. You can even contact customer service through e-mail or phone. Although its online support is great, it is not free.
Advantages
The trading fees at TopFX are competitive compared to many other platforms. Spreads for their commission-free platform start at 0.5 pips, which is lower than the industry average of 1.5 pips. Moreover, it does not charge commission for share CFDs, ETFs, indices, or swap rates. There is no minimum margin requirement, so it is a good choice for retail traders.
Offers Lowest Spread
The TopFX ZERO account offers the lowest spread program in the market, and no extra commissions. It also boasts deep liquidity and lightning order execution. Islamic account holders may opt for the swap-free account, which does not require overnight interest. This feature does not conflict with the beliefs of the Muslim community, so it’s a great choice for them. Besides, TopFX’s platform offers a wide range of trading tools, including indicators, technical analysis, and more.
Protects Clients’ Policy
In addition to its great pricing advantage, TopFX has a policy that protects its clients. If a broker were to go bankrupt or default on its obligations, the funds of its clients would be protected up to EUR20,000. The company’s policies are also very clear, letting you know that there are no hidden fees. And of course, TopFX does not charge for withdrawals, so you’ll have to pay for any other expenses associated with withdrawals.
User-Friendly
MT4 and cTrader are two high-performance trading platforms provided by TopFX. Both of them feature copy-trading and automated trading solutions. For beginners, MT4 is the best platform for MT4 because it supports free MQL Suite of Trading Tools. Moreover, cTrader has more features than MT4. If you are a beginner, TopFX is a good choice for you.
Offers Several Deposit Methods
Another benefit of TopFX is that it offers several deposit methods, including wire transfers. You can also set up an account with multiple brokers and use FIX API. There are a number of other benefits, too. Some of the most popular ones are:
- Positive balance protection; and
- Negative balance protection.
Aside from the low fees, TopFX is easy to use. Lastly, a copy trading solution is available.
Disadvantages
One of the downsides of TopFX is that it does not offer a free paper trading account. This may deter some traders, but it is an important part of any trader’s investment strategy. This is because you can test the performance of the trading platform through a practice account. If you have the money to invest, you can withdraw it immediately from TopFX. In the meantime, you can compare the broker’s services to other forex brokers.
Conclusion
CySEC has mandated that TopFX must have a minimum of EUR1 million in operating capital. All client funds are kept in separate bank accounts. The platform is also multi-regulated and has Negative Balance Protection. In addition, it has no minimum deposit requirement. As a result, it is suitable for traders of all levels of experience. MT4 offers fewer timeframes than cTrader, but it is still the most popular platform for experienced traders.