General information and regulations of TopFX

Established in 2010, TopFX is an online Forex broker regulated by CYSEC, FCA and FSA at present.

TopFX is a reputable brokerage firm established in Cyprus. It caters to individual retail traders, institutional investors, and professional traders worldwide. They offer a wide range of financial services, including Forex, Indices, Shares, Metals, Energies, Cryptocurrencies, ETFs, and more. Traders can choose from multiple account types with spreads starting from 1.0. The maximum leverage is 1:1000, allowing traders to amplify their positions. TopFX provides a seamless trading experience through their advanced platforms, MetaTrader 4 (MT4), and cTrader, available on desktop, web, and mobile devices.

In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. We will also briefly summarize the main advantages and disadvantages so that you can understand the broker's characteristics at a glance.

Is TopFX legit or a scam？

Yes, TopFX Global Ltd is a company registered under the Laws of Seychelles with registration number 8424819-1 and licensed by the Financial Services Authority (FSA) of Seychelles with a Securities Dealer License No: SD037.

Another regulated entity within the group: TopFX Ltd is registered as a Cyprus investment firm (CIF) and licensed by the Cyprus Securities and Exchange Commission (CySEC) under licence number 138/11 in accordance with the Markets in Financial instruments Directive (MiFID II).

Pros and Cons

TopFX offers several advantages to traders. Firstly, they provide a diverse range of market offerings, allowing traders to access various financial instruments. Additionally, TopFX offers competitive spreads, ensuring cost-effective trading. The platform is equipped with advanced trading platforms, offering advanced features and tools for enhanced trading experiences. Furthermore, TopFX is regulated, providing a secure and reliable trading environment. Traders can also choose from flexible account options to suit their individual needs. However, it's worth noting that TopFX has limited educational resources and no fixed spread accounts. Customer support channels are also limited, and there are no social trading features or guaranteed stop loss orders available.

Market instruments

TopFX offers investors access to conventional and popular tradable financial instruments on global financial markets, mainly Forex (more than 60 currency pairs), indices, stocks, metals (gold, silver, platinum, palladium), energy, cryptocurrencies, ETFs, etc.

1. Forex: TopFX allows traders to participate in the foreign exchange market, offering a wide selection of currency pairs. Traders can speculate on the price movements between major, minor, and exotic currency pairs, taking advantage of the volatility and liquidity of the Forex market.

2. Indices: TopFX provides trading opportunities on major global stock indices, such as the S&P 500, NASDAQ, FTSE 100, and Nikkei 225. Traders can speculate on the overall performance of a specific stock market rather than individual stocks, based on their analysis and market insights.

3. Shares: TopFX offers access to a variety of shares from global markets. Traders can invest in individual company stocks, such as Apple, Google, or Amazon, and take advantage of the price movements of these shares.

4. Metals: TopFX allows trading in precious metals like gold, silver, platinum, and palladium. These metals are often considered safe-haven assets and can be used as a hedge against inflation or economic uncertainties. Traders can speculate on the price fluctuations of these metals.

5. Energies: TopFX provides trading opportunities in energy markets, including oil and natural gas. Traders can participate in the price movements of these energy commodities, which can be influenced by geopolitical events, supply and demand dynamics, and other market factors.

6. Cryptocurrencies: TopFX offers trading in popular cryptocurrencies like Bitcoin, Ethereum, Litecoin, and Ripple. Traders can take advantage of the high volatility and liquidity of the cryptocurrency market, speculating on the price movements of these digital assets.

7. ETFs (Exchange-Traded Funds): TopFX allows traders to invest in ETFs, which are investment funds traded on stock exchanges. These funds are composed of a basket of assets, such as stocks, bonds, or commodities. Traders can gain exposure to a diversified portfolio of assets by trading ETFs.

8. Range of Markets: In addition to the above instruments, TopFX provides access to a wide range of other markets, allowing traders to explore various trading opportunities. These markets may include commodities, bonds, options, futures, and more.

Spreads and commissions for trading with TopFX

TopFX offers competitive spreads and commissions across its three account types: Zero Account, Raw Account, and VIP Account. The Zero Account features spreads starting from 1.0, while the Raw Account offers incredibly tight spreads starting from 0.0. For the VIP Account, spreads start from 0.2. Both the Zero Account and the VIP Account come with zero commissions, allowing traders to focus solely on the spreads. On the other hand, the Raw Account charges a commission of $2.75 per lot traded. These flexible options cater to traders of various strategies and preferences, ensuring cost-effective trading conditions at TopFX.

Account Types for TopFX

Demo Account: TopFX does not provide a demo account that allows you to try out the financial markets without the risk of losing money.

Live Account: TopFX provides three distinct types of trading accounts to cater to the diverse needs of traders: Zero Account, Raw Account, and VIP Account.

The Zero Account is an ideal choice for traders looking for competitive spreads without any commission charges. With spreads starting from 1.0 pip and zero commission, this account offers a cost-effective trading solution. The minimum deposit requirement of $500 ensures accessibility for traders at different levels, while the maximum leverage of 1000:1 provides flexibility in managing trading positions.

For traders seeking the tightest spreads and direct market access, the Raw Account is a suitable option. With spreads starting from 0.0 pip and a commission of $2.75 per lot traded, this account offers ultra-low-cost trading. The minimum deposit of $5000 reflects a higher commitment level, attracting more experienced traders. Additionally, the account provides a maximum leverage of 1000:1, allowing traders to amplify their trading potential.

The VIP Account is designed for high-volume and high-net-worth traders who require personalized support and exclusive features. With spreads starting from 0.2 pip and zero commission, this account offers competitive trading conditions. The minimum deposit requirement of $50,000 ensures that only elite traders can access the VIP Account, providing a tailored trading experience. The maximum leverage of 1000:1 enables traders to maximize their capital efficiency.

How to open an account？

The account opening process with TopFX is straightforward and can be completed in a few simple steps:

1. Registration: Visit the TopFX website and click on the “Open Account” or “Register” button. You will be directed to a registration form where you need to provide your personal details such as name, email address, and phone number. Create a username and password for your account.

2. Verification: After submitting the registration form, you will need to go through a verification process to comply with regulatory requirements. This typically involves submitting identification documents such as a passport or driver's license, as well as proof of address such as a utility bill or bank statement. TopFX will review and verify your documents.

3. Account Selection: Once your account is verified, you can choose the type of trading account that best suits your needs. Select from the Zero Account, Raw Account, or VIP Account, considering factors such as spreads, commissions, minimum deposit, and leverage. Take the time to review and understand the features and conditions of each account type before making a decision.

4. Funding Your Account: After selecting your desired account type, it's time to fund your trading account. TopFX offers multiple convenient payment methods, including bank wire transfer, credit/debit card, and online payment systems. Follow the instructions provided on the website to deposit the minimum required amount or any additional funds you wish to allocate for trading.

5. Start Trading: Once your account is funded, you can log into the TopFX trading platform using your credentials. Familiarize yourself with the platform's features and tools, and you're ready to start trading. Choose from a wide range of market instruments, analyze the market, place trades, and manage your positions.

It's important to note that the account opening process may vary slightly based on individual circumstances and regulatory requirements. TopFX strives to make the process as efficient and user-friendly as possible, providing support and guidance throughout the journey to ensure a smooth account opening experience.

Trading platforms offered by TopFX

TopFX offers traders two high-performance trading platforms in the retail sector, MT4 and cTrader. Both support automated trading solutions, occupying the top two places in this sub-sector. The trading platform options at TopFX are excellent and show that the management understands traders' needs. Traders can opt for an enhanced MT4 trading platform or cTrader as an alternative.

Leverage offered by TopFX

At TopFX, leverage allows traders to amplify their trading positions. With a maximum leverage of 1000:1, offered across all three account types - Zero Account, Raw Account, and VIP Account - traders can control larger positions in the market with a smaller initial capital investment. This high leverage enables potential for increased profits, but it is important to remember that it also carries a higher level of risk. Traders should exercise caution and employ proper risk management strategies when utilizing leverage to maximize their trading opportunities at TopFX.

Deposit and withdrawal methods and fees

TopFX offers a wide range of options for Deposit & Withdrawal, making it convenient and flexible for traders. Users can choose from various methods including Credit/debit cards, Bank Wire Transfer, E-wallets, and Cryptocurrency, such as PayPal, Skrill, Neteller, China UnionPay, mPay, FasaPay, Webmoney, among others. Each method may have different minimum deposit requirements, but the overall minimum deposit is $50. Whether you prefer traditional banking methods, digital wallets, or even cryptocurrencies, TopFX ensures that you have plenty of options to fund your trading account and make withdrawals. This diverse range of options allows traders to choose the method that suits them best and provides a seamless and hassle-free experience when it comes to managing their funds.

Educational resources

A series of educational resources is available at TopFX, such as trading signals, news, trading central, market analysis, etcetera.

Customer support of TopFX

The customer support, offered by TopFX, is moderate. That is, it has the basics like email, phone number, address, social networks, multilingual service. These are necessary, but it will be better if it could offer more like live chat, callback, Q&A, and so on.

Here are more details about the customer support service

Languages: English, Spanish, Arabic, Chinese, French, Portuguese and so on.

Address: CT House, Unit 8, Office No 8H, Providence Mahe Seychelles

Phone: +248 4374705

Email: support@topfx.com.sc

Social media: Facebook, Instagram, LinkedIn

Users exposures on WikiFX

On our website, you can see that some users have reported scams. Please be aware and exercise caution when investing. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section, we would appreciate it and our team of experts will do everything possible to solve the problem for you.

Customer Support

TopFX provides excellent customer support through multiple channels, ensuring that traders receive timely assistance whenever they need it. Users can reach out to their customer support team via phone, email, and live chat. With the phone option, traders can directly speak with a representative who can address their queries and provide real-time assistance. Email support allows traders to send detailed inquiries or requests, and the TopFX team strives to respond promptly with helpful solutions. Live chat is another convenient option, enabling traders to have instant conversations with support agents, allowing for quick resolutions to their concerns. Whether you prefer the convenience of live chat, the personal touch of a phone call, or the detailed communication of an email, TopFX's customer support team is dedicated to delivering efficient and effective assistance to ensure a smooth trading experience for all users.

Educational Resources

TopFX offers a range of educational resources to help traders enhance their knowledge and improve their trading skills. They provide webinars where experts share valuable insights and strategies. Traders can access informative articles that cover various trading topics and market trends. Tutorials are available to guide users through different aspects of trading, from basic concepts to advanced techniques. Additionally, TopFX provides comprehensive market analysis, including technical and fundamental analysis, to assist traders in making informed decisions. With these educational resources, traders can stay updated, learn new strategies, and develop a better understanding of the financial markets, ultimately improving their trading performance.

Conclusion

In summary, TopFX is a reputable brokerage firm based in Cyprus, offering a diverse range of financial services to individual retail traders, institutional investors, and professional traders worldwide. With a wide range of market instruments, competitive spreads, and advanced trading platforms like MetaTrader 4 and cTrader, TopFX provides traders with a comprehensive and reliable trading experience. The company is regulated by the Financial Services Authority (FSA) of Seychelles and the Cyprus Securities and Exchange Commission (CySEC), ensuring a secure and trustworthy trading environment. Traders can choose from flexible account options, including the Zero Account, Raw Account, and VIP Account, with varying spreads, commissions, and leverage options. While TopFX offers excellent customer support, it has limited educational resources and lacks certain features like fixed spread accounts, social trading, and guaranteed stop loss orders. Overall, TopFX offers a solid trading platform with competitive conditions, suitable for traders of all levels.

FAQs

Q: Is TopFX a regulated broker？

A: Yes, TopFX is a regulated broker. It is authorized and regulated by several top-tier financial authorities, including the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC) in Cyprus.

Q: What trading instruments are available at TopFX？

A: TopFX offers a wide range of trading instruments, including Forex, Indices, Shares, Metals, Energies, Cryptocurrencies, ETFs, Range of Markets

Q: What trading platforms does TopFX offer？

A: TopFX offers several trading platforms, including MetaTrader 4 and cTrader.

Q: What is the minimum deposit required to open an account with TopFX？

A: The minimum deposit required to open an account with TopFX is $50.

Q: What is the maximum leverage offered by TopFX？

A: The maximum leverage offered by TopFX is 1:1000.

Overview of RockGlobal

RockGlobal is a legitimate online trading platform registered in New Zealand (certificate number 509766) and offers its services to a diverse range of traders. With a wide selection of market instruments including 140+ currency pairs, stock indices, commodities, precious metals, and cryptocurrencies, RockGlobal allows traders to access multiple markets and diversify their portfolios. The platform provides two account types: the Standard Account with spreads starting from 1.0 pip and no commission fees, and the ECN Account with even tighter spreads from 0.0 pip and a $5 commission per standard lot traded. Traders can leverage their positions up to 500:1, amplifying potential profits but requiring responsible risk management. RockGlobal utilizes the popular MetaTrader 4 (MT4) platform, known for its advanced features and user-friendly interface, offering real-time market quotes, fast order execution, and customizable trading strategies. The platform also provides dedicated customer support available 24/7 via phone, email, and live chat. However, it is important to note the lack of deposit and withdrawal information on the website, commission fees for the ECN Account, minimum deposit requirements of $50 for the Standard Account and $500 for the ECN Account, the risk of trading with high leverage, and the limited educational resources provided. Traders are advised to exercise caution and seek additional information when considering RockGlobal as their trading platform.

Is RockGlobal legit or a scam？

Yes, RockGlobal is registered in New Zealand and has obtained a certificate authorized by the Financial Markets Authority with certificate number 509766. However, investors are still advised to exercise caution when making investments.

Market Intruments

RockGlobal offers a comprehensive range of market instruments to cater to the diverse trading preferences of its clients. The platform provides access to an extensive selection of financial assets, including:

1. Forex: RockGlobal offers a wide range of currency pairs for forex trading. Traders can choose from over 140 currency pairs, including major, minor, and exotic pairs. This allows investors to participate in the global forex market and capitalize on currency fluctuations.

2. Metals & Commodities: The platform provides trading opportunities in precious metals and commodities. Traders can access popular metals like gold, silver, platinum, and palladium. Additionally, RockGlobal offers trading in various commodities, such as oil, natural gas, and agricultural products. Trading metals and commodities enables investors to diversify their portfolios and potentially benefit from price movements in these markets.

3. Indices: RockGlobal allows traders to trade a wide range of stock indices from around the world. Popular indices such as the S&P 500, NASDAQ, FTSE 100, and DAX are available for trading. By trading indices, investors can speculate on the overall performance of stock markets and take advantage of market trends.

4. Cryptocurrencies: RockGlobal offers trading in a range of cryptocurrencies. Traders can access popular digital currencies like Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), and Litecoin (LTC). Trading cryptocurrencies provides investors with opportunities to capitalize on the volatility and potential price movements in the crypto market.

With its broad selection of market instruments, including 140+ currency pairs, stock indices, commodities, precious metals, and crypto CFDs, RockGlobal ensures that traders have access to diverse trading opportunities across different financial markets.

Pros and Cons

RockGlobal offers a diverse range of market instruments, competitive spreads, and high leverage of up to 500:1. With the popular MT4 platform and dedicated customer support, traders have access to advanced tools and assistance. However, the lack of deposit and withdrawal information, the risk of high leverage, and limited educational resources should be taken into consideration.

Account Types

RockGlobal offers two different types of trading accounts to suit the needs of different traders:

1. Standard Account:

• Spreads: The Standard Account offers spreads starting from 1.0 pip. Traders can benefit from tight spreads, which can enhance their trading profitability.

• Commission: There is no commission charged on trades conducted through the Standard Account. This means that traders can focus on their trading strategies without incurring additional transaction costs.

• Minimum Deposit: The minimum initial deposit required to open a Standard Account is $50. This allows traders with different budget sizes to start trading with RockGlobal.

• Maximum Leverage: The Standard Account provides a maximum leverage of 500:1. This allows traders to control larger positions in the market with a smaller capital investment. However, it's important to use leverage responsibly and manage risk effectively.

1. ECN Account:

• Spreads: The ECN Account offers competitive spreads starting from 0.0 pip. Traders can benefit from the tightest possible spreads, leading to potentially lower trading costs.

• Commission: Trades conducted through the ECN Account are subject to a commission of $5 per standard lot. This transparent fee structure ensures that traders have full visibility of the costs associated with their trades.

• Minimum Deposit: The minimum initial deposit required to open an ECN Account is $500. This account type is suitable for traders who are ready to commit a higher amount of capital to their trading activities.

• Maximum Leverage: The ECN Account also provides a maximum leverage of 500:1, allowing traders to maximize their trading potential while managing their risk exposure effectively.

Both account types offered by RockGlobal provide traders with access to a high leverage ratio of 500:1, enabling them to control larger positions in the market. The choice between the Standard Account and the ECN Account depends on individual trading preferences and capital requirements.

How to open an account？

Opening an account with RockGlobal involves the following steps:

1. Register an Account: Visit the RockGlobal website and click on the “Register” or “Open Account” button. Provide the required personal information, including your full name, email address, phone number, and country of residence. Create a username and password for your account.

   

2. Identity Verification: Complete the identity verification process. This usually involves submitting the required documents, such as a valid passport or government-issued ID, proof of address (utility bill or bank statement), and any additional documentation requested by RockGlobal. The verification process is essential to ensure compliance with regulatory requirements and to maintain the security and integrity of the trading platform.

3. Deposit Funds: Once your account is registered and verified, you can proceed to deposit funds into your trading account. RockGlobal typically offers multiple deposit methods, including bank wire transfer, credit/debit card, and electronic payment systems. Choose the most convenient method for you and follow the instructions provided by RockGlobal to complete the deposit process. The minimum deposit amount for the Standard Account is $50, while the ECN Account requires a minimum deposit of $500.

4. Start Trading: After your account is funded, you can start trading. Download and install the trading platform provided by RockGlobal, such as MetaTrader 4 (MT4) or a proprietary platform. Use your account login credentials to access the platform. Familiarize yourself with the platform's features, including charting tools, order types, and risk management options. Select the desired financial instruments from the available markets, such as forex, metals, commodities, indices, or cryptocurrencies, and execute your trades according to your trading strategy.

Please note that the account opening process and specific requirements may vary slightly depending on the jurisdiction and regulatory framework. It is recommended to refer to the official RockGlobal website or contact their customer support for the most up-to-date and accurate information regarding the account opening process.

Leverage

RockGlobal provides a maximum leverage of 500:1, allowing traders to amplify their potential profits or losses by up to 500 times their initial investment. This high leverage offers the opportunity to trade larger positions in the market with a relatively smaller amount of capital. However, it is essential for traders to exercise responsible risk management and fully understand the implications of trading with high leverage.

Spreads & Commissions (Trading Fees)

In the Standard Account, the spreads start from as low as 1.0 pip, providing traders with favorable pricing. This account type does not charge any commissions on trades. On the other hand, the ECN Account offers even tighter spreads starting from 0.0 pips, ensuring competitive pricing for traders. However, this account type does have a commission fee of $5 per standard lot traded. These options cater to different trading preferences, allowing traders to choose the account type that best suits their needs.

Trading Platform

RockGlobal utilizes the popular MetaTrader 4 (MT4) trading platform. MT4 is known for its advanced features and user-friendly interface, providing traders with a seamless and efficient trading experience. With MT4, traders have access to a wide range of tools and functionalities, including advanced charting capabilities, multiple timeframes, technical indicators, and customizable trading strategies. The platform also supports automated trading through expert advisors (EAs), allowing for the execution of trades based on pre-set conditions. With real-time market quotes, fast order execution, and comprehensive analysis tools, MT4 on RockGlobal ensures a powerful and flexible trading environment.

Deposit & Withdrawal

RockGlobal's official website does not provide information about specific deposit and withdrawal methods. However, typically, brokers of similar nature allow various deposit and withdrawal options, including Credit/Debit Cards, E-Wallets, Bank Wire transfers, and Cryptocurrencies. It is important to note that the minimum deposit requirement for RockGlobal is $50. Traders interested in opening an account with RockGlobal are advised to contact their customer support or account manager for detailed information regarding the available deposit and withdrawal methods.

Customer Support

RockGlobal values its customers and provides excellent customer support services. Their dedicated staff is available 24/7 to assist traders in any way possible. Whether you have questions about your account, technical issues, or need guidance with trading-related inquiries, RockGlobal's customer support team is ready to provide prompt and helpful assistance.

You can reach out to the customer support team via various channels, including phone, email, and live chat. They understand the importance of timely communication and strive to ensure that your queries are addressed promptly and effectively. Additionally, RockGlobal offers live chat support on social media platforms like Facebook, further enhancing accessibility and convenience for their clients. Rest assured that RockGlobal is committed to delivering a high standard of customer support to ensure a smooth and satisfactory trading experience.

Educational Resources

RockGlobal offers a range of educational resources to support traders in their trading journey. These resources include an economic calendar, which provides timely information about upcoming news events that can impact market conditions. By staying informed about these events, traders can make better-informed decisions based on fundamental analysis.

The trading calculator is another valuable tool provided by RockGlobal, enabling traders to calculate important trading parameters such as point value, spread cost, and estimate potential profits and losses. This calculator assists traders in managing risk and optimizing their trading strategies.

RockGlobal also offers educational materials on Forex Basics, providing traders with essential knowledge about the foreign exchange market. Understanding the fundamentals of forex trading, including currency pairs, market dynamics, and trading principles, can help traders navigate the market more effectively.

Additionally, RockGlobal's professional market analysis team provides up-to-date news coverage, allowing traders to stay ahead of the curve and identify potential trading opportunities before others. This access to timely news and market analysis enhances traders' decision-making process and helps them stay informed about global events impacting financial markets.

Conclusion

RockGlobal, registered in New Zealand, offers a wide range of market instruments including 140+ currency pairs, stock indices, commodities, precious metals, and cryptocurrencies. With competitive spreads, high leverage of up to 500:1, and the popular MT4 platform, traders have diverse trading opportunities and access to advanced tools. However, the lack of deposit and withdrawal information, commission fees for the ECN Account, minimum deposit requirements, and the need for responsible use of high leverage should be considered. Additionally, while dedicated customer support is provided, there may be limited educational resources.

FAQs

Q: Is RockGlobal a regulated broker？

A: Yes, RockGlobal is a regulated broker. It is authorized and regulated by the Financial Markets Authority with certificate number 509766.

Q: What trading instruments are available at RockGlobal？

A: RockGlobal offers a wide range of trading instruments, including 140+ currency pairs, stock indices, commodities, precious metals, and cryptocurrencies.

Q: What trading platforms does RockGlobal offer？

A: RockGlobal offers MetaTrader 4 trading platform.

Q: Does RockGlobal offer educational resources for traders？

A: Yes, RockGlobal offers a range of educational resources for traders, including Economic Calendar, Trading Calculator, Forex Basics, News.

Q: What is the minimum deposit required to open an account with RockGlobal？

A: The minimum deposit required to open an account with RockGlobal is $50.

Q: Does RockGlobal offer any bonuses or promotions？

A: Yes, RockGlobal offers trading with a 20% credit bonus and an additional 10% bonus on subsequent deposits.

Q: What is the maximum leverage offered by RockGlobal？

A: The maximum leverage offered by RockGlobal is 1:500.