Introduction to Review of TopFX
In this TopFX review, we explore the services provided by a well established institutional forex Prime Brokerage. The company is primarily a liquidity provider to other forex brokers. As well as providing liquidity to FX brokers, the company offers services to other professional clients such as hedge funds, investment firms, professional traders and corporations. TopFX doesn’t directly accept retail client accounts. To trade with TopFX as a retail trader, you will need to be a non-European resident and must be referred by an introducing broker.
TopFX is a Cyprus headquartered Prime Brokerage founded in 2010. The company is registered as a Cyprus Investment Firm (CIF) and licensed by the Cyprus Securities and Exchange Commission (CySEC) under licence number 138/11. More recently the company received a license from the Seychelles FSA, with licence no. SD037. As any broker should, TopFX keeps client funds with Tier-1 global banks in segregated accounts completely separate from their operating funds.
One of the areas where TopFX stands out to us is that the company was one of the very first LPs to connect their liquidity into the cTrader platform. Later on, the company went even further to create an All-in-One broker solution where cTrader is the focal point of the package.
TopFX is led by industry executive Alex Katsaros who is notably the former head of product development at Spotware. Alex was involved in the very early development of cTrader and was integral to the major success of the platform. After five or so years at Spotware, Alex moved onto TopFX, where even at a different company he seems to be driving the growth and adoption of the cTrader platform. As an integral member of the cTrader community, we previously interviewed Alex Katsaros. In the interview, we covered some important points, such as the real advantages that cTrader offers to brokers.
As a Liquidity Provider, TopFX is essentially a broker for other brokers. They offer a trading account to brokers connected to multiple trading platforms via FIX API. The firm provides liquidity for forex, precious metals, energy products, indices and some other CFDs.
Liquidity Providers are mission-critical to brokers and finding the right partner is vital. A good Liquidity Provider needs to have a deep order book, so clients’ orders are filled, not rejected. The technology needs to be reliable, bugs, delays and mistakes cost not just money but also reputation. The support needs to be attentive and able to resolve issues promptly. On top of all of those demands, the service needs to be cost-effective. It’s a tall order, and that’s why the Prime Brokerage space is more stringent than any.
TopFX has several additional services targeted at helping its broker clients. An example of added value services would be their All-in-One broker solution which we have covered previously in detail.
Retail Trading Outside the EU
Retail clients, like most of our readers, can trade with TopFX only via introducers as the firm doesn’t accept retail clients directly. The company promises 1000 trading instruments on MetaTrader 4 and cTrader platforms, consistent pricing even with large orders, no slippage, no requotes and fast deposits & withdrawals.
Retail clients can enjoy all benefits of cTrader and MetaTrader 4 with excellent conditions from a liquidity provider. Algo traders, strategy providers and manual traders are all welcome. Retail trading products referenced in this post are only available to clients under TopFX Seychelles Securities Dealer License No: SD037.
All-in-One Broker Solution with cTrader
The All-in-One Brokers Solution that TopFX provides goes much deeper than cTrader. What they have configured for new brokers is a complete package of services to launch and operate a CFD brokerage. They help brokers with essential and often tricky areas such as opening bank accounts, accepting payments, settings up a website, integrating with a CRM, compliance reporting and much more.
Anyone interested in learning more about the services mentioned in this TopFX review should get in contact with the company.