ETX Capital
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73.85% of retail CFD accounts lose money.

Vs.

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

ETX Capital Vs. TMGM - Compare and Choose the Right One

Updated Jul 28 2022

Visit

73.85% of retail CFD accounts lose money.

Visit

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

Overview

Founded in 1965, ETX Capital dedicated the last decades to both spread betting and CFD trading until their recent rebranding into OvalX.

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
  • Forex traders for variety of currencies and high net worth equities
  • Traders seeking commission free equities inside their 250 commission-less selection
  • Traders who want to trade commodity futures and bonds 
  • 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

Regulated

Top-tier Licenses

1

Other Licenses

2

Provided by
TheTradingBible.com

Learn More

Financial
Licenses

Regulation

Regulated

Top-tier Licenses

1

Other Licenses

2

Provided by
TheTradingBible.com

Learn More
🏛 Financial Regulators
  • FCA (UK)
  • FSCA (South Africa)
  • CySec (Cyprus)
  • ASIC (Australia)
  • FMA (New Zealand)
  • VFSC (Vanuatu)
The Good
  • Commission-free trades for 250 equities
  • Low minimum deposit to open standard account (100£)
  • Wide selection of commodity futures and bonds
  • Decent educational material for market research, including seminars on indices, commodities and currencies
  • High and flexible leverage
  • No deposit or withdrawal fees
  • Supports Expert Advisors (EAs), hedging and news trading
The Bad
  • Doesn’t provide live news feed on standard account
  • No ability to purchase real stocks or ETFs (All assets are CFDs)
  • Expensive commissions on shares (Eg minimum $15 on US shares, 10 € on EU shares)
  • Only has financial derivatives (CFDs)
  • Inactivity fee is tied to minimum account balance
Status
Inactive Operational
Recent News

No fresh news at the moment. Check again soon!

No fresh news at the moment. Check again soon!

Key Data
⌛ Account Opening Time
1 Day 1 Day
📋 Documents Required
  • Valid identity documents (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
1965 2013
💳 Minimum Deposit
$, €, £ - 100 (Standard) and 10,000 (Premium) $, -100
💰 Payment Methods
  • Visa
  • Mastercard
  • Maestro
  • Skrill
  • UnionPay
  • Bank Transfer
  • Bank Transfer
  • Credit cards
  • Debit cards
  • FasaPay
  • Neteller
  • RMB Instant
  • Revolut
  • Paytrust
  • Skrill
  • Sticpay
  • UnionPay
  • Wise
💵 Account Base Currencies
3 - EUR, USD, GBP 6 - EUR, USD, GBP, AUD, NZD, CAD
🗽 Available to U.S Citizens
No No
❌ Restricted Countries
US, BE, CN, SG, CH US.
📊 STP Account
No Yes
📊 DMA Account
No Yes
📊 ECN Account
No Yes
Assets
📚 Available Assets
  • CFDs on currencies, bonds, indices, shares, ETFs, commodities and cryptocurrencies.
  • CFDs on stocks, currencies, commodities and indices.

    📙 Stocks
    5,000 CFDs (250 are commission free) 12,000+
    📘 Currency Pairs
    60 55
    📗 Commodities
    17 6
    📕 Indices
    20 15
    📔 ETFs
    19 N/A
    💸 Cryptocurrencies
    5 12
    📒 Bonds
    8 N/A
    📓 Options
    N/A N/A
    📗 Futures
    45 N/A
    📝 Notes:

    ETX Capital offers CFDs, spread betting and futures.

    All of TMGM's assets are CFDs

    Trading Experience
    📈 Minimum Stock Trade Size
    1 Share 1 Share
    📉 Minimum ETFs Trade Size
    1 ETF N/A
    📈 Minimum Crypto Trade Size
    Varies by Cryptocurrency (Eg: 0.01 BTC) Varies per Cryptocurrency (Eg: 0.01 BTC)
    📉 Minimum FX Trade Size
    $1,000 (0.01 lots) $1,000 (0.01 lots)
    📈 Minimum Commodities Trade Size
    Varies per commodity (Eg 0.1 for WTI, 1 for Cotton) Varies per Commodity (0.01 lots for gold, 1 lot for Crude Oil)
    📉 Minimum Bonds Trade Size
    1 unit N/A
    📈 Minimum Futures Trade Size
    Varies per futures contract (Eg: 0.1 Copper, 1 for Bonds) N/A
    📉 Minimum Options Trade Size
    N/A N/A
    💪 Retail Leverage
    Up to 1:30 Up to 1:500
    💪 Professional Leverage
    Up to 1:500 Up to 1:500
    ✍ Customisable Leverage
    No Yes
    🎲 Deleveraged Trading
    No Yes
    🎓 Demo Account
    Yes Yes
    📱 IOS App
    Yes Yes
    📱 Android App
    Yes Yes
    📺 MetaTrader 4
    Yes Yes
    📺 MetaTrader 5
    No Yes
    💻 Web trader
    Yes Yes
    💻 TradingView Platform
    No No
    💻 Proprietary Platform
    Yes No
    📊 Multi-chart Tools
    Yes Yes
    👬 Copy Trading
    Yes No
    👫 Social Trading
    Yes No
    🔑 Guaranteed Stop-loss
    No No
    🔨 Trailing Stop-loss
    Yes 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

    Yes, depending on asset class. (Eg: U.S shares have a 2 cents per share charge with a minimum of $15 per order, European shares have a 0.1% of transaction value charge with a minimum 10 € charge)

    Yes, from $3.5 per lot round turn

    Spreads
    📈 EUR/USD
    Dynamic - From 0.6 Pips Dynamic - From 0 pips
    📉 SP500
    Dynamic - From 60 Pips Dynamic - From 30 Pips
    📈 GOLD
    Dynamic - From 60 Pips Dynamic - From 11 pips
    📉 TSLA (Stock CFD)
    Dynamic - From $13 Dynamic - From $0.48
    📈 XLK (ETF - CFD)
    N/A N/A
    📉 BTC
    Dynamic - Eg. $226.4 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