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

Vs.

Binance
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Investing in cryptocurrencies involves risk.

TMGM Vs. Binance - Compare and Choose the Right One

Updated Dec 30 2021

Visit

74-89% of retail CFD accounts lose money.

Visit

Investing in cryptocurrencies involves risk.

Overview

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.

Binance is a global cryptocurrency exchange founded in 2017 in China with the aim of providing the ultimate trading solution. Currently, they offer more than 700+ cryptocurrencies, derivatives (such as Vanilla options, futures, staking), a Launchpad platform for ICOs and many more services such as several trading platforms with different complexity levels.

Best For
  • Swing traders who can use high leverage
  • Stock traders who do not have access or funds to trade with specialised brokers
  • Avid cryptocurrency traders and investors from intermediate to expert levels
  • Day traders looking for a high liquidity exchange with competitive fees
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The Good
  • High and flexible leverage
  • No deposit or withdrawal fees
  • Supports Expert Advisors (EAs), hedging and news trading
  • Largest cryptocurrency exchange in the world by liquidity
  • Massive cryptocurrencies selection available (700+)
  • Large amount of financial products in the form of derivatives (Vanilla options, futures, etc)
  • Advanced trading platforms with visual order books at no cost
The Bad
  • Only has financial derivatives (CFDs)
  • Inactivity fee is tied to minimum account balance
  • Interface can be complex to use for beginners
  • The wide selection of products and derivatives can also be intimidating for beginners
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.

Only to increase withdrawal limits:

  • 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.

🏛 Financial Regulators
  • ASIC (Australia)
  • FMA (New Zealand)
  • VFSC (Vanuatu)

None, not required at the moment.

📍 Year Founded
2013 2017
💳 Minimum Deposit
$, -100 0
💰 Payment Methods
  • Bank Transfer
  • Credit cards
  • Debit cards
  • FasaPay
  • Neteller
  • RMB Instant
  • Revolut
  • Paytrust
  • Skrill
  • Sticpay
  • UnionPay
  • Wise
  • All supported cryptocurrencies
  • Bank transfers
  • Visa
  • Mastercard
💵 Account Base Currencies
6 - EUR, USD, GBP, AUD, NZD, CAD All supported cryptocurrencies.
🗽 Available to U.S Citizens
No Yes (excluding few states)
❌ Restricted Countries
US. None
📊 STP Account
Yes No
📊 DMA Account
Yes No
📊 ECN Account
Yes No
Assets
📚 Available Assets

CFDs on stocks, currencies, commodities and indices.

  • More than 700+ real cryptocurrencies
  • A wide selection of derivatives based on real cryptocurrencies such as futures, vanilla options, etc.
📙 Stocks
12,000+ N/A
📘 Currency Pairs
55 N/A
📗 Commodities
6 N/A
📕 Indices
15 N/A
📔 ETFs
N/A N/A
💸 Cryptocurrencies
12 700+
📒 Bonds
N/A N/A
📓 Options
N/A N/A
📗 Futures
N/A N/A
📝 Notes:

All of TMGM's assets are CFDs

Binance specialises in real cryptocurrencies and tokenised derivatives based on their own cryptocurrency offering.

Trading Experience
📈 Minimum Stock Trade Size
1 Share N/A
📉 Minimum ETFs Trade Size
N/A N/A
📈 Minimum Crypto Trade Size
Varies per Cryptocurrency (Eg: 0.01 BTC) $10
📉 Minimum FX Trade Size
$1,000 (0.01 lots) N/A
📈 Minimum Commodities Trade Size
Varies per Commodity (0.01 lots for gold, 1 lot for Crude Oil) N/A
📉 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 1:20
💪 Professional Leverage
Up to 1:500 N/A
✍ Customisable Leverage
Yes N/A
🎲 Deleveraged Trading
Yes Yes
🎓 Demo Account
Yes No
📱 IOS App
Yes Yes
📱 Android App
Yes Yes
📺 MetaTrader 4
Yes No
📺 MetaTrader 5
Yes No
💻 Web trader
Yes Yes
💻 TradingView Platform
No Yes
💻 Proprietary Platform
No Yes
📊 Multi-chart Tools
Yes Yes
👬 Copy Trading
No No
👫 Social Trading
No No
🔑 Guaranteed Stop-loss
No No
🔨 Trailing Stop-loss
Yes No
Fees
💰 Inactivity Fee

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

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

Yes, from $3.5 per lot round turn

Binance charges a fixed 0.1% trade value fee for spot trades.

Spreads
📈 EUR/USD
Dynamic - From 0 pips N/A
📉 SP500
Dynamic - From 30 Pips N/A
📈 GOLD
Dynamic - From 11 pips N/A
📉 TSLA (Stock CFD)
Dynamic - From $0.48 N/A
📈 XLK (ETF - CFD)
N/A N/A
📉 BTC
Dynamic - From $32 Dynamic - From $1
Research and Analysis
⭐ Watchlists
Yes Yes
🔭 Stock Screener
Yes No
🗓 Economic Calendar
Yes No
📜 Integrated Newsfeed
Yes No
📡 Reuters Feed
No No

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