Binance
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Investing in cryptocurrencies involves risk.

Vs.

TMGM
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74-89% of retail CFD accounts lose money./

Binance Vs. TMGM - Compare and Choose the Right One

Updated May 13 2022

Visit

Investing in cryptocurrencies involves risk.

Visit

74-89% of retail CFD accounts lose money./

Overview

Binance is a global cryptocurrency exchange founded in 2017 in China with the aim of providing the ultimate trading solution. Currently, they offer more than 700+ cryptocurrencies, derivatives (such as Vanilla options, futures, staking), a Launchpad platform for ICOs and many more services such as several trading platforms with different complexity levels.

TMGM is an Australian broker specialised in financial derivatives known as contract-for-differences (CFDs). Operating since 2013, TMGM provides trading in forex, stocks, indices, cryptocurrencies and commodities.

Best For
  • Avid cryptocurrency traders and investors from intermediate to expert levels
  • Day traders looking for a high liquidity exchange with competitive fees
  • Swing traders who can use high leverage
  • Stock traders who do not have access or funds to trade with specialised brokers
Licenses

Financial
Licenses

Regulation

Unregulated

Top-tier Licenses

0

Other Licenses

0

Provided by
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Financial
Licenses

Regulation

Regulated

Top-tier Licenses

1

Other Licenses

2

Provided by
TheTradingBible.com

Learn More
🏛 Financial Regulators

None, not required at the moment.

  • ASIC (Australia)
  • FMA (New Zealand)
  • VFSC (Vanuatu)
The Good
  • Largest cryptocurrency exchange in the world by liquidity
  • Massive cryptocurrencies selection available (700+)
  • Large amount of financial products in the form of derivatives (Vanilla options, futures, etc)
  • Advanced trading platforms with visual order books at no cost
  • High and flexible leverage
  • No deposit or withdrawal fees
  • Supports Expert Advisors (EAs), hedging and news trading
The Bad
  • Interface can be complex to use for beginners
  • The wide selection of products and derivatives can also be intimidating for beginners
  • Only has financial derivatives (CFDs)
  • Inactivity fee is tied to minimum account balance
Status
Operational Operational
Recent News
N/A N/A
Key Data
⌛ Account Opening Time
1 Day 1 Day
📋 Documents Required

Only to increase withdrawal limits:

  • Valid identity document (Passport, ID Card, etc)
  • Valid proof of residence document (Bank statement, utility bills)

All documents must be under the account holder's name.

  • Valid identity document (Passport, ID Card, etc)
  • Valid proof of residence document (Bank statement, utility bills)

All documents must be under the account holder's name.

📍 Year Founded
2017 2013
💳 Minimum Deposit
0 $, -100
💰 Payment Methods
  • All supported cryptocurrencies
  • Bank transfers
  • Visa
  • Mastercard
  • Bank Transfer
  • Credit cards
  • Debit cards
  • FasaPay
  • Neteller
  • RMB Instant
  • Revolut
  • Paytrust
  • Skrill
  • Sticpay
  • UnionPay
  • Wise
💵 Account Base Currencies
All supported cryptocurrencies. 6 - EUR, USD, GBP, AUD, NZD, CAD
🗽 Available to U.S Citizens
Yes (excluding few states) No
❌ Restricted Countries
None US.
📊 STP Account
No Yes
📊 DMA Account
No Yes
📊 ECN Account
No Yes
Assets
📚 Available Assets
  • More than 700+ real cryptocurrencies
  • A wide selection of derivatives based on real cryptocurrencies such as futures, vanilla options, etc.

CFDs on stocks, currencies, commodities and indices.

📙 Stocks
N/A 12,000+
📘 Currency Pairs
N/A 55
📗 Commodities
N/A 6
📕 Indices
N/A 15
📔 ETFs
N/A N/A
💸 Cryptocurrencies
700+ 12
📒 Bonds
N/A N/A
📓 Options
N/A N/A
📗 Futures
N/A N/A
📝 Notes:

Binance specialises in real cryptocurrencies and tokenised derivatives based on their own cryptocurrency offering.

All of TMGM's assets are CFDs

Trading Experience
📈 Minimum Stock Trade Size
N/A 1 Share
📉 Minimum ETFs Trade Size
N/A N/A
📈 Minimum Crypto Trade Size
$10 Varies per Cryptocurrency (Eg: 0.01 BTC)
📉 Minimum FX Trade Size
N/A $1,000 (0.01 lots)
📈 Minimum Commodities Trade Size
N/A Varies per Commodity (0.01 lots for gold, 1 lot for Crude Oil)
📉 Minimum Bonds Trade Size
N/A N/A
📈 Minimum Futures Trade Size
N/A N/A
📉 Minimum Options Trade Size
N/A N/A
💪 Retail Leverage
Up to 1:20 Up to 1:500
💪 Professional Leverage
N/A Up to 1:500
✍ Customisable Leverage
N/A Yes
🎲 Deleveraged Trading
Yes Yes
🎓 Demo Account
No Yes
📱 IOS App
Yes Yes
📱 Android App
Yes Yes
📺 MetaTrader 4
No Yes
📺 MetaTrader 5
No Yes
💻 Web trader
Yes Yes
💻 TradingView Platform
Yes No
💻 Proprietary Platform
Yes No
📊 Multi-chart Tools
Yes Yes
👬 Copy Trading
No No
👫 Social Trading
No No
🔑 Guaranteed Stop-loss
No No
🔨 Trailing Stop-loss
No Yes
Fees
💰 Inactivity Fee
No

$30 fee if there is no activity for 6 months or if the account balance falls below $500.

💰 Deposit Fees
No No
💰 Withdrawal Fees
No No
💰 Commissions

Binance charges a fixed 0.1% trade value fee for spot trades.

Yes, from $3.5 per lot round turn

Spreads
📈 EUR/USD
N/A Dynamic - From 0 pips
📉 SP500
N/A Dynamic - From 30 Pips
📈 GOLD
N/A Dynamic - From 11 pips
📉 TSLA (Stock CFD)
N/A Dynamic - From $0.48
📈 XLK (ETF - CFD)
N/A N/A
📉 BTC
Dynamic - From $1 Dynamic - From $32
Research and Analysis
⭐ Watchlists
Yes Yes
🔭 Stock Screener
No Yes
🗓 Economic Calendar
No Yes
📜 Integrated Newsfeed
No Yes
📡 Reuters Feed
No No

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