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

Vs.

ETX Capital
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73.85% of retail CFD accounts lose money.

TMGM Vs. ETX Capital - Compare and Choose the Right One

Updated May 13 2022

Visit

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

Visit

73.85% of retail CFD accounts lose money.

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.

Founded in 1965, ETX Capital dedicated the last decades to both spread betting and CFD trading until their recent rebranding into OvalX.

Best For
  • Swing traders who can use high leverage
  • Stock traders who do not have access or funds to trade with specialised brokers
  • Forex traders for variety of currencies and high net worth equities
  • Traders seeking commission free equities inside their 250 commission-less selection
  • Traders who want to trade commodity futures and bonds 
Licenses

Financial
Licenses

Regulation

Regulated

Top-tier Licenses

1

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
  • ASIC (Australia)
  • FMA (New Zealand)
  • VFSC (Vanuatu)
  • FCA (UK)
  • FSCA (South Africa)
  • CySec (Cyprus)
The Good
  • High and flexible leverage
  • No deposit or withdrawal fees
  • Supports Expert Advisors (EAs), hedging and news trading
  • Commission-free trades for 250 equities
  • Low minimum deposit to open standard account (100£)
  • Wide selection of commodity futures and bonds
  • Decent educational material for market research, including seminars on indices, commodities and currencies
The Bad
  • Only has financial derivatives (CFDs)
  • Inactivity fee is tied to minimum account balance
  • Doesn’t provide live news feed on standard account
  • No ability to purchase real stocks or ETFs (All assets are CFDs)
  • Expensive commissions on shares (Eg minimum $15 on US shares, 10 € on EU shares)
Status
Operational Inactive
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 documents (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
2013 1965
💳 Minimum Deposit
$, -100 $, €, £ - 100 (Standard) and 10,000 (Premium)
💰 Payment Methods
  • Bank Transfer
  • Credit cards
  • Debit cards
  • FasaPay
  • Neteller
  • RMB Instant
  • Revolut
  • Paytrust
  • Skrill
  • Sticpay
  • UnionPay
  • Wise
  • Visa
  • Mastercard
  • Maestro
  • Skrill
  • UnionPay
  • Bank Transfer
💵 Account Base Currencies
6 - EUR, USD, GBP, AUD, NZD, CAD 3 - EUR, USD, GBP
🗽 Available to U.S Citizens
No No
❌ Restricted Countries
US. US, BE, CN, SG, CH
📊 STP Account
Yes No
📊 DMA Account
Yes No
📊 ECN Account
Yes No
Assets
📚 Available Assets

CFDs on stocks, currencies, commodities and indices.

  • CFDs on currencies, bonds, indices, shares, ETFs, commodities and cryptocurrencies.
  • 📙 Stocks
    12,000+ 5,000 CFDs (250 are commission free)
    📘 Currency Pairs
    55 60
    📗 Commodities
    6 17
    📕 Indices
    15 20
    📔 ETFs
    N/A 19
    💸 Cryptocurrencies
    12 5
    📒 Bonds
    N/A 8
    📓 Options
    N/A N/A
    📗 Futures
    N/A 45
    📝 Notes:

    All of TMGM's assets are CFDs

    ETX Capital offers CFDs, spread betting and futures.

    Trading Experience
    📈 Minimum Stock Trade Size
    1 Share 1 Share
    📉 Minimum ETFs Trade Size
    N/A 1 ETF
    📈 Minimum Crypto Trade Size
    Varies per Cryptocurrency (Eg: 0.01 BTC) Varies by 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 (0.01 lots for gold, 1 lot for Crude Oil) Varies per commodity (Eg 0.1 for WTI, 1 for Cotton)
    📉 Minimum Bonds Trade Size
    N/A 1 unit
    📈 Minimum Futures Trade Size
    N/A Varies per futures contract (Eg: 0.1 Copper, 1 for Bonds)
    📉 Minimum Options Trade Size
    N/A N/A
    💪 Retail Leverage
    Up to 1:500 Up to 1:30
    💪 Professional Leverage
    Up to 1:500 Up to 1:500
    ✍ Customisable Leverage
    Yes No
    🎲 Deleveraged Trading
    Yes No
    🎓 Demo Account
    Yes Yes
    📱 IOS App
    Yes Yes
    📱 Android App
    Yes Yes
    📺 MetaTrader 4
    Yes Yes
    📺 MetaTrader 5
    Yes No
    💻 Web trader
    Yes Yes
    💻 TradingView Platform
    No No
    💻 Proprietary Platform
    No Yes
    📊 Multi-chart Tools
    Yes Yes
    👬 Copy Trading
    No Yes
    👫 Social Trading
    No Yes
    🔑 Guaranteed Stop-loss
    No No
    🔨 Trailing Stop-loss
    Yes Yes
    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

    Yes, depending on asset class. (Eg: U.S shares have a 2 cents per share charge with a minimum of $15 per order, European shares have a 0.1% of transaction value charge with a minimum 10 € charge)

    Spreads
    📈 EUR/USD
    Dynamic - From 0 pips Dynamic - From 0.6 Pips
    📉 SP500
    Dynamic - From 30 Pips Dynamic - From 60 Pips
    📈 GOLD
    Dynamic - From 11 pips Dynamic - From 60 Pips
    📉 TSLA (Stock CFD)
    Dynamic - From $0.48 Dynamic - From $13
    📈 XLK (ETF - CFD)
    N/A N/A
    📉 BTC
    Dynamic - From $32 Dynamic - Eg. $226.4
    Research and Analysis
    ⭐ Watchlists
    Yes Yes
    🔭 Stock Screener
    Yes No
    🗓 Economic Calendar
    Yes No
    📜 Integrated Newsfeed
    Yes No
    📡 Reuters Feed
    No No