Saxo Bank Vs. TMGM - Compare Trustworthiness, Capabilities, Fees and Legitimacy


Visit 69% of retail CFD accounts lose money.	Visit 74-89% of retail CFD accounts lose money.
Overview
Saxo Bank is a Danish investment bank operating since 1992. It is one of the most regulated brokerages in the world with an exceptional selection of financial instruments.	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 investors looking to trade a variety of markets High net worth traders or investors	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 0 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) HKMA (Hong Kong) ADGM (United Arab Emirates) FINMA (Switzerland) MAS (Singapore) FFAJ (Japan) AFM (Netherlands)	ASIC (Australia) FMA (New Zealand) VFSC (Vanuatu)
The Good
Exceptional selection of financial instruments at one place 2 highly-customizable proprietary trading platforms API integration for 3rd party services like Excel or TradingView	High and flexible leverage No deposit or withdrawal fees Supports Expert Advisors (EAs), hedging and news trading
The Bad
High minimum deposit for certain countries Withdrawals via bank transfer only High fees on options and futures	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
4 days	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
1992	2013
💳 Minimum Deposit Range
From $500 up to $2,000	$100
💰 Payment Methods
Visa Mastercard Bank Transfer	Bank Transfer Credit cards Debit cards FasaPay Neteller RMB Instant Revolut Paytrust Skrill Sticpay UnionPay Wise
💵 Account Base Currencies
26 - AED, AUD, CAD, CHF, CNH, CZK, DKK, EUR, GBP, HKD, HUF, ILS, JPY, LTL, MXN, MYR, NOK, NZD, PLN, RON, RUB, SEK, SGD, TRY, USD, ZAR.	6 - EUR, USD, GBP, AUD, NZD, CAD.
🗽 Available to U.S Citizens
No	No
❌ Restricted Countries
US, BR, ES, IN, KE, MX, NG, PK, ZA.	US.
📊 STP Account
Yes	Yes
📊 DMA Account
Yes	Yes
📊 ECN Account
Yes	Yes
Banking License
No	No
Debit Card
No	No
Assets
📚 Assets Type
Hybrid	CFDs
Total Asset Offering
49,339	12,091
Exchange Access
0	0
📙 Real Stocks
30,000	0
📙 Stock CFDs
0	12,000
📘 Currency Pairs
0	0
📘 Currency Pair CFDs
182	55
📗 Commodities
0	0
📗 Commodities CFDs
19	6
📕 Indices
0	0
📕 Indices CFDs
29	15
📔 ETFs
5,400	0
📔 ETFs CFDs
5,400	0
💸 Cryptocurrencies
0	0
💸 Cryptocurrency CFDs
9	15
📒 Bonds
5,000	0
📒 Bonds CFDs
0	0
📓 Options
3,000	0
📓 Options CFDs
0	0
📗 Futures
300	0
📗 Futures CFDs
0	0
Trading Experience
📈 Minimum Stock Trade Size
Unavailable	1 Share
📉 Minimum ETFs Trade Size
Unavailable	Unavailable
📈 Minimum Crypto Trade Size
Varies by Cryptocurrency (eg: 0.01 units of 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
Unavailable	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
66	Unavailable
✍ Customisable Leverage
No	Yes
🎲 Deleveraged Trading
Yes	Yes
🎓 Demo Account
Yes	Yes
📱 IOS App
Yes	Yes
📱 Android App
Yes	Yes
📺 MetaTrader 4
No	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
No	No
🔑 Guaranteed Stop-loss
No	No
🔨 Trailing Stop-loss
Yes	Yes
Fees
💰 Inactivity Fee
Up to $150 after 6 months of inactivity, £25 after one quarter in the UK.	$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
$0.02/share (min $10) for US Stocks, from 0.10% (min €10) for other equity markets, €4 per futures contract.	Yes, from $3.5 per lot round turn
Spreads
📈 EUR/USD
Dynamic - From 0.4 to 0.8 Pips	Dynamic - From 0 pips
📉 SP500
Unavailable	Dynamic - From 30 Pips
📈 GOLD
Unavailable	Dynamic - From 11 pips
📉 TSLA (Stock CFD)
Unavailable	Dynamic - From $0.48
📈 XLK (ETF - CFD)
Unavailable	Unavailable
📉 BTC
Unavailable	Dynamic - From $32
Research and Analysis
⭐ Watchlists
Yes	Yes
🔭 Stock Screener
Yes	Yes
🗓 Economic Calendar
Yes	Yes
📜 Integrated Newsfeed
Yes	Yes
📡 Reuters Feed
No	No
📡 Educational Content
No	No
📡 Live Chat Support
Yes	No
📡 Video Tutorials
No	No
📡 Account Management
Yes	No
📡 Webinars
No	No