TopForex
Velocity Trade
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Overview
TopForex was founded in 2009 and is headquartered in Cyprus, while Velocity Trade was established in 2007 and is based in Australia. TopForex holds licences including Cyprus Securities and Exchange Commission (CySEC), while Velocity Trade is regulated by Australian Securities & Investment Commission (ASIC) among others. TopForex serves 10,000+ clients worldwide; Velocity Trade has 10,000+. The minimum deposit is $100 at TopForex and $1 at Velocity Trade.
| Feature | TopForex | Velocity Trade |
|---|---|---|
| Min. Deposit | $100 | $1 |
| Regulation | Cyprus Securities and Exchange Commission (CySEC) | Australian Securities & Investment Commission (ASIC), BaFIN (German Federal Financial Services Authority ID: 10159853), Financial Markets Authority (FMA) of New Zealand, Financial Sector Conduct Authority of South Africa (FSCA) FSP No. 43295, Financial Conduct Authority (FCA Registered Number 497263) |
| Founded | 2009 | 2007 |
| Country | Cyprus | Australia |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between TopForex and Velocity Trade, directly affecting your bottom line as a trader. Velocity Trade has a lower barrier to entry with a minimum deposit of $1 (vs $100 at TopForex). TopForex charges withdrawal fees while Velocity Trade does not, a notable advantage for frequent withdrawers. Velocity Trade applies inactivity fees on dormant accounts; TopForex does not. Overall, Velocity Trade scores higher on fees in our assessment.
| Feature | TopForex | Velocity Trade |
|---|---|---|
| Min. Deposit | $100 | $1 |
| Withdrawal Fees | Yes | No |
| Inactivity Fees | No | Yes |
| Deposit Fees | No | No |
| CFD Fees | Yes | No |
Platforms
TopForex offers MT4, MT5, cTrader, while Velocity Trade supports MT4. Both brokers provide mobile trading apps for iOS and Android. TopForex supports social and copy trading features, which Velocity Trade does not offer. TopForex edges ahead on platform breadth and functionality in our scoring.
| Feature | TopForex | Velocity Trade |
|---|---|---|
| MT4 | Yes | Yes |
| MT5 | Yes | No |
| cTrader | Yes | No |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | MT4, Web Trader, Tablet & Mobile apps | MT4, Mobile Apps |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how TopForex and Velocity Trade compare. Both brokers run regular live webinars. Both provide video tutorials, including advanced content. Daily market commentary is available from both brokers. Both integrate third-party research tools including Trading Central. Archived webinars are available at both brokers for self-paced learning. The two brokers are evenly matched on educational content.
| Feature | TopForex | Velocity Trade |
|---|---|---|
| Forex Education | Yes | Yes |
| CFD Education | Yes | Yes |
| Weekly Webinars | Yes | Yes |
| Daily Commentary | Yes | Yes |
| Trading Central | Yes | Yes |
| Autochartist | Yes | Yes |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. TopForex accepts 2 of the tracked payment methods (bank transfer, credit/debit card), while Velocity Trade supports 2 (bank transfer, credit/debit card). Both brokers support the same set of payment methods.
| Feature | TopForex | Velocity Trade |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | No | No |
| Skrill | No | No |
| Neteller | No | No |
Support
Responsive customer support matters most when you're locked out of your account or need urgent help with a trade. Both TopForex and Velocity Trade offer live chat support. Both provide phone support. Email support is available at both brokers. Both brokers offer support in 2 languages. Both brokers are comparable on support quality.
| Feature | TopForex | Velocity Trade |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |