FXCM Vs. TMGM - Compare Trustworthiness, Capabilities, Fees and Legitimacy


Visit 77% of retail CFD accounts lose money.	Visit 74-89% of retail CFD accounts lose money.
Overview
FXCM is a global brokerage headquartered in the U.K that specialises in both retail and institutional trading with a comprehensive API offering. **The below information is provided based on FXCM EU LTD. For other FXCM entities, please go to the corresponding FXCM website for more information. TheTradingBible.com is acting in a capacity of marketing affiliate for FXCM EU LTD.	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
Professional algorithmic traders looking to benefit from their comprehensive API offering.	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 2 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
ASIC (Australia) CySec (Cyprus) FCA (United Kingdom) FSCA (South Africa)	ASIC (Australia) FMA (New Zealand) VFSC (Vanuatu)
The Good
Comprehensive API offering with a variety of conditions and programming languages at no additional cost Proprietary platform (Trading Station)	High and flexible leverage No deposit or withdrawal fees Supports Expert Advisors (EAs), hedging and news trading
The Bad
Lack of asset variety in their offering (over 463+ financial instruments) Costly spreads 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
1999	2013
💳 Minimum Deposit Range
$50	$100
💰 Payment Methods
Visa Mastercard Bank Transfer Neteller Skrill	Bank Transfer Credit cards Debit cards FasaPay Neteller RMB Instant Revolut Paytrust Skrill Sticpay UnionPay Wise
💵 Account Base Currencies
4 - EUR GBP, USD, CHF.	6 - EUR, USD, GBP, AUD, NZD, CAD.
🗽 Available to U.S Citizens
No	No
❌ Restricted Countries
RU, US, CA, JP, SK, BE and more.	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
447	12,091
Exchange Access
0	0
📙 Real Stocks
0	0
📙 Stock CFDs
341	12,000
📘 Currency Pairs
0	0
📘 Currency Pair CFDs
41	55
📗 Commodities
0	0
📗 Commodities CFDs
14	6
📕 Indices
0	0
📕 Indices CFDs
19	15
📔 ETFs
0	0
📔 ETFs CFDs
0	0
💸 Cryptocurrencies
0	0
💸 Cryptocurrency CFDs
22	15
📒 Bonds
0	0
📒 Bonds CFDs
10	0
📓 Options
0	0
📓 Options CFDs
0	0
📗 Futures
0	0
📗 Futures CFDs
0	0
Trading Experience
📈 Minimum Stock Trade Size
1 Share	1 Share
📉 Minimum ETFs Trade Size
Unavailable	Unavailable
📈 Minimum Crypto Trade Size
1 Unit	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 by Commodity (Eg: 1 Troy ounce 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
400	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
Yes	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
50 units of the account's base currency yearly 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
Yes on bank transfer withdrawals depending on location (from $10 to $40 on local currency).	None
💰 Withdrawal Fees
None	None
💰 Commissions
None	Yes, from $3.5 per lot round turn
Spreads
📈 EUR/USD
Dynamic - From 1.2 Pips	Dynamic - From 0 pips
📉 SP500
Dynamic - From 58 Pips	Dynamic - From 30 Pips
📈 GOLD
Dynamic - From 41 Pips	Dynamic - From 11 pips
📉 TSLA (Stock CFD)
Dynamic - From $1.04	Dynamic - From $0.48
📈 XLK (ETF - CFD)
Unavailable	Unavailable
📉 BTC
Dynamic - From $51	Dynamic - From $32
Research and Analysis
⭐ Watchlists
Yes	Yes
🔭 Stock Screener
No	Yes
🗓 Economic Calendar
Yes	Yes
📜 Integrated Newsfeed
Yes	Yes
📡 Reuters Feed
No	No
📡 Educational Content
Yes	No
📡 Live Chat Support
Yes	No
📡 Video Tutorials
No	No
📡 Account Management
No	No
📡 Webinars
No	No