OctaFX
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Vs.

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

OctaFX Vs. TMGM - Compare and Choose the Right One

Updated May 13 2022

Visit

Your capital is at risk.

Visit

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

Overview

OctaFX is an international FX broker operating as an incorporated company from St. Vincent and the Grenadines specialising in currencies trading via MetaTrader 4 & 5.

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 looking for a high leverage off-shore broker
  • New traders looking to experiment using MT4 & 5 with a no commission low-cost broker
  • 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

Unregulated

Top-tier Licenses

0

Other Licenses

0

Provided by
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Financial
Licenses

Regulation

Regulated

Top-tier Licenses

1

Other Licenses

2

Provided by
TheTradingBible.com

Learn More
🏛 Financial Regulators
  • Not regulated, Registered in St. Vincent and the Grenadines under IBC 19776.
  • ASIC (Australia)
  • FMA (New Zealand)
  • VFSC (Vanuatu)
The Good
  • High leverage offered due to no regulatory restrictions
  • MetaTrader 4 & 5 platforms with their own copy trading integration
  • Low minimum deposit
  • High and flexible leverage
  • No deposit or withdrawal fees
  • Supports Expert Advisors (EAs), hedging and news trading
The Bad
  • Despite having financial licenses, OctaFX does not operate using them, meaning that they are an unregulated broker.
  • Their asset offering is extremely limited (80 instruments)
  • Only has financial derivatives (CFDs)
  • Inactivity fee is tied to minimum account balance
Status
Operational Operational
Recent News
N/A N/A
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
2011 2013
💳 Minimum Deposit
$25 $, -100
💰 Payment Methods
  • Visa
  • Mastercard
  • Maestro
  • Skrill
  • Neteller
  • Bitcoin
  • Ethereum
  • USDT (Tether)
  • Litecoin
  • Dogecoin
  • Bank Transfer
  • Bank Transfer
  • Credit cards
  • Debit cards
  • FasaPay
  • Neteller
  • RMB Instant
  • Revolut
  • Paytrust
  • Skrill
  • Sticpay
  • UnionPay
  • Wise
💵 Account Base Currencies
2 - EUR, USD. 6 - EUR, USD, GBP, AUD, NZD, CAD
🗽 Available to U.S Citizens
No No
❌ Restricted Countries
US, CA. US.
📊 STP Account
Yes Yes
📊 DMA Account
No Yes
📊 ECN Account
Yes Yes
Assets
📚 Available Assets

CFDs on currencies, commodities, indices and cryptocurrencies.

CFDs on stocks, currencies, commodities and indices.

📙 Stocks
N/A 12,000+
📘 Currency Pairs
35 55
📗 Commodities
5 6
📕 Indices
10 15
📔 ETFs
N/A N/A
💸 Cryptocurrencies
30 12
📒 Bonds
N/A N/A
📓 Options
N/A N/A
📗 Futures
N/A N/A
📝 Notes:

All of OctaFX’s assets are CFDs.

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
$1,000 (0.01 Lots) 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
$1,000 (0.01 Lots) 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 1:500 Up to 1:500
💪 Professional Leverage
N/A Up to 1:500
✍ Customisable Leverage
Yes Yes
🎲 Deleveraged Trading
Yes Yes
🎓 Demo Account
Yes Yes
📱 IOS App
No Yes
📱 Android App
Yes Yes
📺 MetaTrader 4
Yes Yes
📺 MetaTrader 5
Yes Yes
💻 Web trader
Yes Yes
💻 TradingView Platform
No No
💻 Proprietary Platform
No 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
No

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

💰 Deposit Fees
No No
💰 Withdrawal Fees
No No
💰 Commissions
No

Yes, from $3.5 per lot round turn

Spreads
📈 EUR/USD
Dynamic - From 0.6 Pips Dynamic - From 0 pips
📉 SP500
Dynamic - From 20 Pips Dynamic - From 30 Pips
📈 GOLD
Dynamic - From 180 Pips Dynamic - From 11 pips
📉 TSLA (Stock CFD)
N/A Dynamic - From $0.48
📈 XLK (ETF - CFD)
N/A N/A
📉 BTC
Dynamic - From $57 Dynamic - From $32
Research and Analysis
⭐ Watchlists
Yes Yes
🔭 Stock Screener
No Yes
🗓 Economic Calendar
Yes Yes
📜 Integrated Newsfeed
No Yes
📡 Reuters Feed
No No

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