Forex.com
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67.6% of retail CFD accounts lose money.

Vs.

TMGM
Visit

74-89% of retail CFD accounts lose money.

Forex.com Vs. TMGM - Compare Trustworthiness, Capabilities, Fees and Legitimacy

Updated Oct 20 2022

Visit

67.6% of retail CFD accounts lose money.

Visit

74-89% of retail CFD accounts lose money.

Overview

Forex.com is a global broker headquartered in the U.S and part of StoneX (publicly traded company on NASDAQ) that specialises in offering CFDs based on commodities, currencies, indices, stocks, ETFs, shares, bonds and cryptocurrencies.

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
  • Traders of all levels (beginner to advanced) looking for competitive pricing
  • Trades of all levels looking for a great platform variety
  • High volume traders looking for ECN or DMA accounts offering deep liquidity for large trades
  • 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

4

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
  • FINRA (United States)
  • FCA (UK)
  • FFAJ (Japan)
  • IIROC (Canada)
  • CySec (Cyprus)
  • CIMA (Cayman Islands)
  • ASIC (Australia)
  • FMA (New Zealand)
  • VFSC (Vanuatu)
The Good
  • Great platform offering (Proprietary, TradingView, MetaTrader 4 & 5)
  • Excellent asset offering (more than 5,000+ instruments)
  • Competitive spreads in some of their assets
  • High and flexible leverage
  • No deposit or withdrawal fees
  • Supports Expert Advisors (EAs), hedging and news trading
The Bad
  • Despite presenting a great customisable platform, it still feels messy and not intuitive to use
  • Commissions are expensive when compared to similar competitors 
  • Only has financial derivatives (CFDs)
  • Inactivity fee is tied to minimum account balance
Status
Operational 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
2001 2013
💳 Minimum Deposit Range
$100 $100
💰 Payment Methods
  • Visa
  • Mastercard
  • Skrill
  • Neteller
  • Bank Transfer
  • Bank Transfer
  • Credit cards
  • Debit cards
  • FasaPay
  • Neteller
  • RMB Instant
  • Revolut
  • Paytrust
  • Skrill
  • Sticpay
  • UnionPay
  • Wise
💵 Account Base Currencies
6 - GBP, USD, EUR, AUD, JPY, CHF. 6 - EUR, USD, GBP, AUD, NZD, CAD.
🗽 Available to U.S Citizens
Yes No
❌ Restricted Countries
None

US.

📊 STP Account
Yes Yes
📊 DMA Account
Yes Yes
📊 ECN Account
Yes Yes
Banking License
No No
Debit Card
No No
Assets
📚 Assets Type
CFDs CFDs
Total Asset Offering
5,371 12,091
Exchange Access
0 0
📙 Real Stocks
0 0
📙 Stock CFDs
4,500 12,000
📘 Currency Pairs
0 0
📘 Currency Pair CFDs
93 55
📗 Commodities
0 0
📗 Commodities CFDs
35 6
📕 Indices
0 0
📕 Indices CFDs
24 15
📔 ETFs
0 0
📔 ETFs CFDs
700 0
💸 Cryptocurrencies
0 0
💸 Cryptocurrency CFDs
5 15
📒 Bonds
0 0
📒 Bonds CFDs
14 0
📓 Options
0 0
📓 Options CFDs
0 0
📗 Futures
0 0
📗 Futures CFDs
0 0
Trading Experience
📈 Minimum Stock Trade Size
Varies per share (eg: 0.3 AMZN shares) 1 Share
📉 Minimum ETFs Trade Size
Varies per ETF (eg: 5 contracts of XLK) Unavailable
📈 Minimum Crypto Trade Size
Varies per 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: 1 contract of Gold) Varies per Commodity (0.01 lots for gold, 1 lot for Crude Oil)
📉 Minimum Bonds Trade Size
Unavailable Unavailable
📈 Minimum Futures Trade Size
Unavailable Unavailable
📉 Minimum Options Trade Size
Unavailable Unavailable
💪 Retail Leverage
30 500
💪 Professional Leverage
500 Unavailable
✍ Customisable Leverage
No Yes
🎲 Deleveraged Trading
Yes Yes
🎓 Demo Account
Yes Yes
📱 IOS App
Yes Yes
📱 Android App
Yes Yes
📺 MetaTrader 4
Yes Yes
📺 MetaTrader 5
Yes Yes
📺 cTrader
No No
💻 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
Yes Yes
Fees
💰 Inactivity Fee

$15 monthly after 1 year of inactivity.

$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 account type.

  • Standard account has no commissions
  • “Commission Account” and “DMA Account” have a flat $5 fee commission per lot round turn

Yes, from $3.5 per lot round turn

Spreads
📈 EUR/USD
Dynamic - From 0.8 Pips Dynamic - From 0 pips
📉 SP500
Dynamic - From 60 Pips Dynamic - From 30 Pips
📈 GOLD
Dynamic - From 50 Pips Dynamic - From 11 pips
📉 TSLA (Stock CFD)
Dynamic - Market Spread Dynamic - From $0.48
📈 XLK (ETF - CFD)
Dynamic - Market Spread Unavailable
📉 BTC
Dynamic - From $120 Dynamic - From $32
Research and Analysis
⭐ Watchlists
Yes Yes
🔭 Stock Screener
No Yes
🗓 Economic Calendar
Yes Yes
📜 Integrated Newsfeed
Yes Yes
📡 Reuters Feed
Yes No
📡 Educational Content
Yes No
📡 Live Chat Support
Yes No
📡 Video Tutorials
Yes No
📡 Account Management
No No
📡 Webinars
No No