FXCM
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77% of retail CFD accounts lose money.

Vs.

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

FXCM Vs. TMGM - Compare and Choose the Right One

Updated Jul 27 2022

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.

TheTradingBible.com is acting in a capacity of a marketing affiliate of 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 300+ 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 (FXCM Group) 2013
💳 Minimum Deposit
€, £, $ - 50 (Varies by payment method) $, -100
💰 Payment Methods
  • Visa
  • Mastercard
  • Bank Transfer
  • Neteller
  • Skrill

Skrill and Neteller are not available to FXCM EU clients at the moment

  • 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 and more. US.
📊 STP Account
No Yes
📊 DMA Account
No Yes
📊 ECN Account
No Yes
Assets
📚 Available Assets

CFDs on stocks, currencies, commodities, cryptocurrencies and indices

CFDs on stocks, currencies, commodities and indices.

📙 Stocks
200+ 12,000+
📘 Currency Pairs
39 55
📗 Commodities
11 6
📕 Indices
15 15
📔 ETFs
N/A N/A
💸 Cryptocurrencies

6 (Cryptocurrencies CFDs are not available to retail clients residing in the UK)

12
📒 Bonds
N/A N/A
📓 Options
N/A N/A
📗 Futures
N/A N/A
📝 Notes:
All of FXCM's assets are CFDs.

All of TMGM's assets are CFDs

Trading Experience
📈 Minimum Stock Trade Size
1 share 1 Share
📉 Minimum ETFs Trade Size
N/A N/A
📈 Minimum Crypto Trade Size
1 unit of any cryptocurrency Varies per Cryptocurrency (Eg: 0.01 BTC)
📉 Minimum FX Trade Size
$1000 (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
N/A N/A
📈 Minimum Futures Trade Size
N/A N/A
📉 Minimum Options Trade Size
N/A N/A
💪 Retail Leverage
Up to 1:30 Up to 1:500
💪 Professional Leverage
Up to 1:500 (Varies) 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
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
No No
💰 Withdrawal Fees

Yes on bank transfer withdrawals depending on location (from $10 to $40 on local currency).

No
💰 Commissions
No

Yes, from $3.5 per lot round turn

Spreads
📈 EUR/USD
From 1.2 Pips (As per our research) Dynamic - From 0 pips
📉 SP500
Dynamic - From 58 Pips (As per our research) Dynamic - From 30 Pips
📈 GOLD
Dynamic - From 41 Pips (As per our research) Dynamic - From 11 pips
📉 TSLA (Stock CFD)
Dynamic - From $1.04 (As per our research) Dynamic - From $0.48
📈 XLK (ETF - CFD)
N/A N/A
📉 BTC
Dynamic - From $51 (As per our research) 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

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