Oanda
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78.3% of retail CFD accounts lose money.

Vs.

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

Oanda Vs. TMGM - Compare and Choose the Right One

Updated Jul 12 2022

Visit

78.3% of retail CFD accounts lose money.

Visit

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

Overview

Oanda is an international Forex broker founded in 1996 with headquarters in the United States. Oanda specialises exclusively in currency trading solutions for all trader levels. Their greatest selling points are their strong regulatory framework and robust proprietary platforms.

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 of all levels (from beginner to advanced)
  • 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

7

Other Licenses

1

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
  • CFTC (U.S)
  • NFA (U.S)
  • ASIC (Australia)
  • FCA (UK)
  • MAS (Singapore)
  • IIROC (Canada)
  • FFAJ (Japan)
  • BVI (British Virgin Islands)
  • ASIC (Australia)
  • FMA (New Zealand)
  • VFSC (Vanuatu)
The Good
  • High trustworthiness, regulated by the best regulators in the world
  • Fast, simple and professional trading platforms
  • Competitive spreads in their currency pairs
  • High and flexible leverage
  • No deposit or withdrawal fees
  • Supports Expert Advisors (EAs), hedging and news trading
The Bad
  • Extremely limited offering of assets (104)
  • No ability to purchase real stocks or cryptocurrencies, only CFDs
  • 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 minimum (may take longer) 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.

*There is no document verification needed for gross account deposits below US$9,000.

  • 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
1996 2013
💳 Minimum Deposit
$, €, £, - 0. $, -100
💰 Payment Methods
  • Visa
  • Mastercard
  • Bank Transfer
  • Paypal
  • Bank Transfer
  • Credit cards
  • Debit cards
  • FasaPay
  • Neteller
  • RMB Instant
  • Revolut
  • Paytrust
  • Skrill
  • Sticpay
  • UnionPay
  • Wise
💵 Account Base Currencies
9 - USD, EUR, GBP, SGD, CHF, JPY, AUD, CAD, HKD. 6 - EUR, USD, GBP, AUD, NZD, CAD
🗽 Available to U.S Citizens
Yes No
❌ Restricted Countries
AF, AL, BS, BB, BW, BF, BI, KH, KY, CF, TD, CD, CG, CU, ER, ET, GH, IR, IQ, JM, KP, LY, MU, MN, MA, MM, NI, NG, PK, PS, PA, SN, SL, SO, SS, SD, SY, TT, TN, UG, VU, YE, ZW. US.
📊 STP Account
No Yes
📊 DMA Account
No Yes
📊 ECN Account
Yes Yes
Assets
📚 Available Assets

CFDs on currencies, commodities, cryptocurrencies, indices and bonds.

CFDs on stocks, currencies, commodities and indices.

📙 Stocks
N/A 12,000+
📘 Currency Pairs
68 55
📗 Commodities
13 6
📕 Indices
16 15
📔 ETFs
N/A N/A
💸 Cryptocurrencies
4 12
📒 Bonds
6 N/A
📓 Options
N/A N/A
📗 Futures
N/A N/A
📝 Notes:

All Oanda's assets are CFDs. In the case of commodities, they only have 13, but each commodity has various trading pairs against several different currencies, eg: GOLD/EUR, GOLD/CHF, etc.

All of TMGM's assets are CFDs

Trading Experience
📈 Minimum Stock Trade Size
N/A 1 Share
📉 Minimum ETFs Trade Size
N/A N/A
📈 Minimum Crypto Trade Size
Varies by crypto (Eg: 0.01 BTC) Varies per Cryptocurrency (Eg: 0.01 BTC)
📉 Minimum FX Trade Size
1 unit of any currency pair (Eg: 1 Euro, 1 Usd, 1 GBP, etc) $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
1 unit of any Bond contract 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 1:100 Up to 1:500
✍ Customisable Leverage
Yes Yes
🎲 Deleveraged Trading
No Yes
🎓 Demo Account
Yes Yes
📱 IOS App
Yes Yes
📱 Android App
Yes Yes
📺 MetaTrader 4
Yes Yes
📺 MetaTrader 5
Yes Yes
💻 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
Yes No
🔨 Trailing Stop-loss
Yes Yes
Fees
💰 Inactivity Fee
Yes, $10 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

Credit and Debit cards are free, when it comes to Bank transfer depends on the account's base currency (eg: the first withdrawal costs $, €, £ 20 and any subsequent ones 35). In the case of SGD, there are no fees.

No
💰 Commissions

No, but they do charge currency conversion fees. If your account base currency is GBP and you trade the EUR/USD pair, you'll be paying a conversion fee.

Yes, from $3.5 per lot round turn

Spreads
📈 EUR/USD
Dynamic - From 0.8 Pips Dynamic - From 0 pips
📉 SP500
Dynamic - From 30 Pips Dynamic - From 30 Pips
📈 GOLD
Dynamic - From 26 Pips Dynamic - From 11 pips
📉 TSLA (Stock CFD)
N/A Dynamic - From $0.48
📈 XLK (ETF - CFD)
N/A N/A
📉 BTC
Dynamic - From $100 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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