Saxo Bank
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65% of retail CFD accounts lose money.

Vs.

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

Saxo Bank Vs. TMGM - Compare and Choose the Right One

Updated May 13 2022

Visit

65% 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
N/A N/A
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
From 500 € to 2,000 € depending on residence $, -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
Assets
📚 Available Assets
  • Real stocks, ETFs, bonds and options.
  • CFDs on currencies, commodities, stocks, indices, ETFs, cryptocurrencies and bonds.

CFDs on stocks, currencies, commodities and indices.

📙 Stocks
30,000+ 12,000+
📘 Currency Pairs
182 55
📗 Commodities
19 (CFDs) 6
📕 Indices
29 (CFDs) 15
📔 ETFs
5,400+ N/A
💸 Cryptocurrencies
9 12
📒 Bonds
5,000+ N/A
📓 Options
3,000+ N/A
📗 Futures
300+ N/A
📝 Notes:
N/A

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 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
N/A 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 1:66 Up to 1:500
✍ 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
💻 Web trader
Yes Yes
💻 TradingView Platform
Yes (through API) 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
No No
💰 Withdrawal Fees
No No
💰 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
0.8 Pips average - 0.4 for VIPs Dynamic - From 0 pips
📉 SP500
N/A Dynamic - From 30 Pips
📈 GOLD
N/A Dynamic - From 11 pips
📉 TSLA (Stock CFD)
N/A Dynamic - From $0.48
📈 XLK (ETF - CFD)
N/A N/A
📉 BTC
N/A 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

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