TMGM Vs. FXCM - Compare Trustworthiness, Capabilities, Fees and Legitimacy


Visit 74-89% of retail CFD accounts lose money.	Visit 77% 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.	FXCM is a global brokerage headquartered in the U.K that specialises in both retail and institutional trading with a comprehensive API offering. **The below information is provided based on FXCM EU LTD. For other FXCM entities, please go to the corresponding FXCM website for more information. TheTradingBible.com is acting in a capacity of marketing affiliate for FXCM EU LTD.
Best For
Swing traders who can use high leverage Stock traders who do not have access or funds to trade with specialised brokers	Professional algorithmic traders looking to benefit from their comprehensive API offering.
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 2 Other Licenses 2 Provided by TheTradingBible.com Learn More
🏛 Financial Regulators
ASIC (Australia) FMA (New Zealand) VFSC (Vanuatu)	ASIC (Australia) CySec (Cyprus) FCA (United Kingdom) FSCA (South Africa)
The Good
High and flexible leverage No deposit or withdrawal fees Supports Expert Advisors (EAs), hedging and news trading	Comprehensive API offering with a variety of conditions and programming languages at no additional cost Proprietary platform (Trading Station)
The Bad
Only has financial derivatives (CFDs) Inactivity fee is tied to minimum account balance	Lack of asset variety in their offering (over 463+ financial instruments) Costly spreads when compared to similar competitors
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
2013	1999
💳 Minimum Deposit Range
$100	$50
💰 Payment Methods
Bank Transfer Credit cards Debit cards FasaPay Neteller RMB Instant Revolut Paytrust Skrill Sticpay UnionPay Wise	Visa Mastercard Bank Transfer Neteller Skrill
💵 Account Base Currencies
6 - EUR, USD, GBP, AUD, NZD, CAD.	4 - EUR GBP, USD, CHF.
🗽 Available to U.S Citizens
No	No
❌ Restricted Countries
US.	RU, US, CA, JP, SK, BE and more.
📊 STP Account
Yes	No
📊 DMA Account
Yes	No
📊 ECN Account
Yes	No
Banking License
No	No
Debit Card
No	No
Assets
📚 Assets Type
CFDs	CFDs
Total Asset Offering
12,091	447
Exchange Access
0	0
📙 Real Stocks
0	0
📙 Stock CFDs
12,000	341
📘 Currency Pairs
0	0
📘 Currency Pair CFDs
55	41
📗 Commodities
0	0
📗 Commodities CFDs
6	14
📕 Indices
0	0
📕 Indices CFDs
15	19
📔 ETFs
0	0
📔 ETFs CFDs
0	0
💸 Cryptocurrencies
0	0
💸 Cryptocurrency CFDs
15	22
📒 Bonds
0	0
📒 Bonds CFDs
0	10
📓 Options
0	0
📓 Options CFDs
0	0
📗 Futures
0	0
📗 Futures CFDs
0	0
Trading Experience
📈 Minimum Stock Trade Size
1 Share	1 Share
📉 Minimum ETFs Trade Size
Unavailable	Unavailable
📈 Minimum Crypto Trade Size
Varies per Cryptocurrency (Eg: 0.01 BTC)	1 Unit
📉 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 by Commodity (Eg: 1 Troy ounce of Gold)
📉 Minimum Bonds Trade Size
Unavailable	Unavailable
📈 Minimum Futures Trade Size
Unavailable	Unavailable
📉 Minimum Options Trade Size
Unavailable	Unavailable
💪 Retail Leverage
500	30
💪 Professional Leverage
Unavailable	400
✍ 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
📺 cTrader
No	No
💻 Web trader
Yes	Yes
💻 TradingView Platform
No	Yes
💻 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.	50 units of the account's base currency yearly after 1 year of inactivity.
💰 Deposit Fees
None	Yes on bank transfer withdrawals depending on location (from $10 to $40 on local currency).
💰 Withdrawal Fees
None	None
💰 Commissions
Yes, from $3.5 per lot round turn	None
Spreads
📈 EUR/USD
Dynamic - From 0 pips	Dynamic - From 1.2 Pips
📉 SP500
Dynamic - From 30 Pips	Dynamic - From 58 Pips
📈 GOLD
Dynamic - From 11 pips	Dynamic - From 41 Pips
📉 TSLA (Stock CFD)
Dynamic - From $0.48	Dynamic - From $1.04
📈 XLK (ETF - CFD)
Unavailable	Unavailable
📉 BTC
Dynamic - From $32	Dynamic - From $51
Research and Analysis
⭐ Watchlists
Yes	Yes
🔭 Stock Screener
Yes	No
🗓 Economic Calendar
Yes	Yes
📜 Integrated Newsfeed
Yes	Yes
📡 Reuters Feed
No	No
📡 Educational Content
No	Yes
📡 Live Chat Support
No	Yes
📡 Video Tutorials
No	No
📡 Account Management
No	No
📡 Webinars
No	No