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 Oct 20 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 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
1965 2013
💳 Minimum Deposit Range
From $100 to $10,000 $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
Banking License
No No
Debit Card
No No
Assets
📚 Assets Type
CFDs CFDs
Total Asset Offering
5,174 12,091
Exchange Access
0 0
📙 Real Stocks
0 0
📙 Stock CFDs
5,000 12,000
📘 Currency Pairs
0 0
📘 Currency Pair CFDs
60 55
📗 Commodities
0 0
📗 Commodities CFDs
17 6
📕 Indices
0 0
📕 Indices CFDs
20 15
📔 ETFs
0 0
📔 ETFs CFDs
19 0
💸 Cryptocurrencies
0 0
💸 Cryptocurrency CFDs
5 15
📒 Bonds
0 0
📒 Bonds CFDs
8 0
📓 Options
0 0
📓 Options CFDs
0 0
📗 Futures
0 0
📗 Futures CFDs
45 0
Trading Experience
📈 Minimum Stock Trade Size
1 Share 1 Share
📉 Minimum ETFs Trade Size
1 ETF Unavailable
📈 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 Bond Unavailable
📈 Minimum Futures Trade Size
Varies per futures contract (Eg: 0.1 Copper, 1 for Bonds) Unavailable
📉 Minimum Options Trade Size
Unavailable Unavailable
💪 Retail Leverage
30 500
💪 Professional Leverage
500 Unavailable
✍ 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
📺 cTrader
No No
💻 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
None

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

💰 Deposit Fees
None None
💰 Withdrawal Fees
None None
💰 Commissions

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)
Unavailable Unavailable
📉 BTC
Dynamic - From $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
📡 Educational Content
No No
📡 Live Chat Support
No No
📡 Video Tutorials
No No
📡 Account Management
No No
📡 Webinars
No No