Which TopFX entity serves UAE residents
TopFX has not confirmed to BrokerBazaar whether it accepts UAE residents, and it lists no UAE-licensed entity. Availability should be treated as unconfirmed until the broker states it in writing.
Status on BrokerBazaar UAE: Availability not confirmed. "Available" is not the same as "regulated in the UAE": only a Capital Market Authority (CMA, formerly SCA), DFSA or FSRA licence gives you local supervision and a local complaints route.
Funding in AED and local payment methods
TopFX has not stated AED account denomination or UAE local bank transfer on its BrokerBazaar submission. Deposit methods listed: Credit Card, Debit Card (Visa / Mastercard), Bank Wire Transfer (SEPA / SWIFT), Skrill, Neteller, Apple Pay, Google Pay, Cryptocurrencies (via TopFX Global). Expect USD-denominated accounts and a card or bank FX conversion fee unless the broker confirms AED wallets.
Withdrawal methods listed: Bank Wire Transfer, Credit / Debit Card, Skrill, Neteller, Cryptocurrencies. UAE banks may query incoming payments from offshore brokers; keep your deposit records.
Islamic (swap-free) account for UAE traders
TopFX has not specified whether a swap-free account is offered. Ask before opening an account if this matters to you.
UAE-specific risk note
Because TopFX has no UAE licence on record, the CMA cannot intervene in a dispute. Your recourse is with the foreign regulator of the onboarding entity (CySEC are strict-tier). The CMA periodically publishes warnings about unlicensed platforms marketing to UAE residents; check its list before depositing.
Leveraged CFD trading carries a high risk of loss. Nothing on this page is personal financial advice.
TopFX at a glance
Founded in 2010, TopFX is an institutional liquidity provider and prime retail multi-asset CFD brokerage. Regulated in the European Union by the Cyprus Securities and Exchange Commission (CySEC Licence No. 138/11) and internationally by the Financial Services Authority of Seychelles (FSA Licence No. SD037), TopFX provides direct STP/ECN market execution across 600+ CFDs on forex, indices, commodities, shares, and cryptocurrencies via Spotware cTrader and MetaTrader 4 (MT4).
TopFX reports a founding year of 2010 and a head office in Trident Chambers P.O. Box 146 Road Town Tortola VG1110 VIRGIN ISLANDS, BRITISH. It lists 4 regulators and 9 trading platforms.
BrokerBazaar verdict
International retail accounts outside the EEA are onboarded under an offshore Seychelles FSA licence Does not offer direct trading in real physical equities, exchange-traded futures, or cash bonds Wire transfer withdrawals can incur bank processing fees depending on the intermediary institution No proprietary retail trading app, relying exclusively on third-party cTrader and MT4 infrastructure Service is unavailable to residents of the United States, Canada, Japan, and other restricted jurisdictions
Legal entities, regulation and licences
TopFX operates through 2 legal entities, each supervised separately. Your account is with one specific entity, so the protections you receive depend on which one onboards you, not on the group's strongest licence. Overall, the group is supervised by at least one strict-tier regulator.
Licence check: Not independently checked. This broker has submitted its details. BrokerBazaar has not yet independently checked them. A company registration or general business licence is not permission to offer regulated brokerage services; only the register entries linked in the table count.
Countries accepted and restricted
TopFX states that it accepts clients from European Union / EEA member states, plus international non-EU retail onboarding through Seychelles entity (excluding United States, Canada, Japan, Belgium, and sanctioned jurisdictions). Availability is decided per entity and can change without notice; residents of jurisdictions such as the USA, and often the EU and UK, are frequently excluded from offshore entities.
Known restrictions flagged in our review: Service is unavailable to residents of the United States, Canada, Japan, and other restricted jurisdictions.
Trading products, platforms and account types
Instruments: Forex CFDs (Major, Minor, Exotic currency pairs), Index CFDs, Commodity CFDs (Gold, Silver, Crude Oil, Natural Gas), Share CFDs (US, European, UK equities), ETF CFDs, Cryptocurrency CFDs. Platforms: cTrader Desktop, cTrader Web, cTrader Mobile, MetaTrader 4 (MT4), MT4 Mobile, FIX API, MT4, MT5, cTrader. Account types: Not disclosed.
Best-for tags assigned by our team: cTrader, Forex Trading, CFD Trading, ECN Execution, Raw Spreads, Scalping, Institutional Liquidity, MetaTrader 4, Automated Trading.
Minimum deposit, spreads, commissions and other charges
The minimum deposit is $50 (€50 / $50 minimum deposit across Raw and Zero account tiers). Spreads start from 0.0 pips (broker claim) and commission is From $2.75. Maximum leverage is Up to 1:1000, subject to the cap of the entity that holds your account.
Swap-free / Islamic account: not specified (yes). Swap type: not specified. Headline spreads are usually quoted for the most expensive account tier's cheapest instrument; compare total cost for your typical trade.
Deposits and withdrawals
Deposit methods: Credit Card, Debit Card (Visa / Mastercard), Bank Wire Transfer (SEPA / SWIFT), Skrill, Neteller, Apple Pay, Google Pay, Cryptocurrencies (via TopFX Global). Withdrawal methods: Bank Wire Transfer, Credit / Debit Card, Skrill, Neteller, Cryptocurrencies.
Withdrawal speed and fees are set by the entity and payment provider. Withdrawal delays are the most common complaint category on BrokerBazaar across all brokers; keep identity documents current and withdraw to the same method you deposited with where required by anti-money-laundering rules.
Execution model, negative balance protection and client money
Negative balance protection: Not specified. Scalping allowed: Not specified. Algorithmic trading allowed: Not specified. News trading allowed: Yes. Hedging: not specified.
Client-money rules follow the regulator of the entity that holds your account. Check that regulator's rules on its register.
Not covered: TopFX Ltd (CySEC). This licence covers a different activity (such as securities, wealth or payments), so its client-money rules do not apply to a forex or CFD account.
Complaints and dispute process
Formal complaints: complaints@topfx.com. Phone: +357 25 352 244. Customer complaints are initially handled by the Compliance Department of TopFX Ltd at Limassol, Cyprus. For EU retail clients, unresolved disputes can be formally escalated to the Financial Ombudsman of the Republic of Cyprus or addressed via CySEC alternative dispute resolution mechanisms. In accordance with CySEC directives and MiFID II, client funds are held in strictly segregated accounts with Tier-1 European banking institutions. European retail accounts are covered by the Investor Compensation Fund (ICF), providing statutory compensation up to €20,000 per client in the event of broker default. Non-EU international accounts contracted under TopFX Global Ltd (Seychelles FSA) operate outside European regulatory jurisdiction and are not covered by the Cyprus ICF.
If the broker does not resolve a complaint, escalate to the ombudsman or regulator of the entity that holds your account. BrokerBazaar's Dispute Support Desk can help you document and escalate a case.
Strengths and limitations
- Strength: Tier-2 regulatory supervision in Europe by CySEC (Licence 138/11) with over a decade of operating history
- Strength: Institutional prime liquidity heritage providing tight raw ECN spreads starting from 0.0 pips
- Strength: Full suite integration with Spotware's cTrader platform alongside MetaTrader 4
- Strength: Competitive Raw account commissions at $2.75 per side ($5.50 per lot round turn)
- Strength: Statutory negative balance protection and segregated client funds held in Tier-1 banking institutions
- Limitation: International retail accounts outside the EEA are onboarded under an offshore Seychelles FSA licence
- Limitation: Does not offer direct trading in real physical equities, exchange-traded futures, or cash bonds
- Limitation: Wire transfer withdrawals can incur bank processing fees depending on the intermediary institution
- Limitation: No proprietary retail trading app, relying exclusively on third-party cTrader and MT4 infrastructure
- Limitation: Service is unavailable to residents of the United States, Canada, Japan, and other restricted jurisdictions
Who this broker suits, and who it does not
TopFX is most relevant to traders looking for: cTrader, Forex Trading, CFD Trading, ECN Execution, Raw Spreads, Scalping, Institutional Liquidity, MetaTrader 4, Automated Trading.
It is less suitable for anyone who needs a strict-tier regulator in their own country of residence but would be onboarded by an offshore entity, for residents of restricted jurisdictions, and for beginners who have not yet understood leverage and margin. Nothing on this page is personal financial advice.
TopFX change history
Every published fact change, with the previous value and the date it took effect. Each entry says whether the broker made the change itself or our editors checked it against an official source. Regulation and licence claims are always checked by an editor.
No fact changes recorded for TopFX yet. Changes appear here as soon as the broker updates its profile or our editors confirm a change.
Frequently asked questions about TopFX
Data sources. Broker submission, the regulator registers linked above, TopFX BVI terms and conditions; broker website, web-archive and domain records, and third-party traffic data. Last register check 2026-10-10. External ratings: Sitejabber 2/5; Trustpilot 4/5; Forex Peace Army 3.7/5; BrokersView 3.68/5; Tradomatix 3.68/5; WikiFX 7.15/10; Tradomatix 4.2/5; WikiFX 1.64/10; Verify.Trading 41/100.
Commercial disclosure. BrokerBazaar is independent and not owned by any broker. We may receive a referral fee if you open an account with TopFX through our links; this never affects scores or verification. How we make money. Trading leveraged products carries a high risk of loss.