SquaredFinancial
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69.9% of retail CFD accounts lose money.

Vs.

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

SquaredFinancial Vs. TMGM - Compare and Choose the Right One

Updated Jul 12 2022

Visit

69.9% of retail CFD accounts lose money.

Visit

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

Overview

SquaredFinancial is a global brokerage firm founded in 2005 and headquartered in Cyprus that specialises in providing real stocks along with CFDs on all major asset classes paired with MT4 & MT5 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
  • Professional high volume traders looking to exploit their competitive commissions in shares
  • High volume FX traders looking to open a SquaredElite account with spreads from 0 Pips
  • 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

0

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
  • CySec (Cyprus)
  • FSAS (Seychelles)
  • ASIC (Australia)
  • FMA (New Zealand)
  • VFSC (Vanuatu)
The Good
  • Extensive asset offering (more than 10,000+ products)
  • Real stocks are offered along with CFDs
  • Very competitive share trading commissions when compared to similar brokers
  • High and flexible leverage
  • No deposit or withdrawal fees
  • Supports Expert Advisors (EAs), hedging and news trading
The Bad
  • Platform offering is limited to only MT4 and MT5
  • High minimum deposit for SquaredElite account (5,000 €)
  • 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
2005 2013
💳 Minimum Deposit

250 € (SquaredPro Account), 5,000 € SquaredElite Account

$, -100
💰 Payment Methods
  • Visa
  • Mastercard
  • Bank Transfer
  • Neteller
  • Skrill
  • Instatransfer
  • Bank Transfer
  • Credit cards
  • Debit cards
  • FasaPay
  • Neteller
  • RMB Instant
  • Revolut
  • Paytrust
  • Skrill
  • Sticpay
  • UnionPay
  • Wise
💵 Account Base Currencies
5 - EUR, USD, GBP, CHF, ZAR. 6 - EUR, USD, GBP, AUD, NZD, CAD
🗽 Available to U.S Citizens
No No
❌ Restricted Countries
US, CA, IR, SY. US.
📊 STP Account
Yes Yes
📊 DMA Account
Yes Yes
📊 ECN Account
Yes Yes
Assets
📚 Available Assets
  • Real stocks and ETFs
  • CFDs on stocks, ETFs, commodities, currencies, indices, futures, cryptocurrencies.

CFDs on stocks, currencies, commodities and indices.

📙 Stocks
8,000 Real Stocks / 8,000 Stock CFDs 12,000+
📘 Currency Pairs
40+ 55
📗 Commodities
5 6
📕 Indices
15 15
📔 ETFs
1,000 ETFs CFDs N/A
💸 Cryptocurrencies
25+ 12
📒 Bonds
N/A N/A
📓 Options
N/A N/A
📗 Futures
16 N/A
📝 Notes:

SquaredFinancial provides real stocks along with CFDs on the most common asset classes.

All of TMGM's assets are CFDs

Trading Experience
📈 Minimum Stock Trade Size
1 Share 1 Share
📉 Minimum ETFs Trade Size
1 ETF N/A
📈 Minimum Crypto Trade Size
Varies per Cryptocurrency (Eg: 0.01 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
Varies per Commodity (Eg: 1 Gold Contract) 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
Varies per future (Eg: 1 Contract) 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 Up to 1:500
✍ Customisable Leverage
No Yes
🎲 Deleveraged Trading
Yes Yes
🎓 Demo Account
Yes Yes
📱 IOS App
No Yes
📱 Android App
No 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
No No
👫 Social Trading
No No
🔑 Guaranteed Stop-loss
No No
🔨 Trailing Stop-loss
No 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

Yes, depending on account type or assets. For account types:


  • SquaredPro account has no default commissions
  • SquaredElite account has a commission of $5 per lot

For particular assets there are commissions on all accounts, specifically in shares as follows:


  • USA shares have a $0.06 per share commission (with a minimum of $2)
  • European shares have a 0.15% commission of the transaction value (with a minimum of 5 €)

Yes, from $3.5 per lot round turn

Spreads
📈 EUR/USD
Dynamic - From 0 to 1.2 Pips Dynamic - From 0 pips
📉 SP500
Dynamic - From 150 Pips Dynamic - From 30 Pips
📈 GOLD
Dynamic - From 110 Pips Dynamic - From 11 pips
📉 TSLA (Stock CFD)
Dynamic - Market Spread Dynamic - From $0.48
📈 XLK (ETF - CFD)
Dynamic - Market Spread N/A
📉 BTC
Dynamic - From $250 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