TMGM Vs. LegacyFX - 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.	Legacy FX is a cypriot broker founded in 2017 that specialises in CFDs trading via MetaTrader 5 for mobile, web and desktop devices.
Best For
Swing traders who can use high leverage Stock traders who do not have access or funds to trade with specialised brokers	Traders looking for a CySec broker that offers a trading signals service
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 0 Other Licenses 2 Provided by TheTradingBible.com Learn More
🏛 Financial Regulators
ASIC (Australia) FMA (New Zealand) VFSC (Vanuatu)	CySec (Cyprus) VFSC (Vanuatu)
The Good
High and flexible leverage No deposit or withdrawal fees Supports Expert Advisors (EAs), hedging and news trading	Proprietary signals channel (untested by us) Fixed spreads (at their discretion subject to change)
The Bad
Only has financial derivatives (CFDs) Inactivity fee is tied to minimum account balance	High minimum deposits (From $500 to $25,000) for their various account types Extremely high spreads when compared to similar brokers Low asset offering with poor categorisation Subpar regulatory framework Only MT5 platform is offered
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	2017
💳 Minimum Deposit Range
$100	From $500 to $25,000
💰 Payment Methods
Bank Transfer Credit cards Debit cards FasaPay Neteller RMB Instant Revolut Paytrust Skrill Sticpay UnionPay Wise	Visa Mastercard Neteller Skrill Klarna iDeal GiroPay Perfect Money AVOPayments eftPay Volt Cash Load Jeton Gigadat
💵 Account Base Currencies
6 - EUR, USD, GBP, AUD, NZD, CAD.	11 - USD, EUR, GBP, JPY, CHF, AUD, RUB, PLN, HUF, SGD, ZAR.
🗽 Available to U.S Citizens
No	No
❌ Restricted Countries
US.	US, CA, BE, FR, IL, IR, SY, AF, MM, SO, YE, IQ, SS, SD.
📊 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	292
Exchange Access
0	0
📙 Real Stocks
0	0
📙 Stock CFDs
12,000	200
📘 Currency Pairs
0	0
📘 Currency Pair CFDs
55	40
📗 Commodities
0	0
📗 Commodities CFDs
6	24
📕 Indices
0	0
📕 Indices CFDs
15	18
📔 ETFs
0	0
📔 ETFs CFDs
0	0
💸 Cryptocurrencies
0	0
💸 Cryptocurrency CFDs
15	10
📒 Bonds
0	0
📒 Bonds CFDs
0	0
📓 Options
0	0
📓 Options CFDs
0	0
📗 Futures
0	0
📗 Futures CFDs
0	0
Trading Experience
📈 Minimum Stock Trade Size
1 Share	Unavailable
📉 Minimum ETFs Trade Size
Unavailable	Unavailable
📈 Minimum Crypto Trade Size
Varies per Cryptocurrency (Eg: 0.01 BTC)	Unavailable
📉 Minimum FX Trade Size
$1,000 (0.01 Lots)	$10,000 (0.1 Lots)
📈 Minimum Commodities Trade Size
Varies per Commodity (0.01 lots for gold, 1 lot for Crude Oil)	$10,000 (0.1 Lots)
📉 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	500
✍ Customisable Leverage
Yes	No
🎲 Deleveraged Trading
Yes	No
🎓 Demo Account
Yes	Yes
📱 IOS App
Yes	No
📱 Android App
Yes	No
📺 MetaTrader 4
Yes	No
📺 MetaTrader 5
Yes	Yes
📺 cTrader
No	No
💻 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
Yes	No
Fees
💰 Inactivity Fee
$30 fee if there is no activity for 6 months or if the account balance falls below $500.	Yes, 10 units of account base currency after 90 days of inactivity.
💰 Deposit Fees
None	None
💰 Withdrawal Fees
None	None
💰 Commissions
Yes, from $3.5 per lot round turn	Yes, ranging from 0.15% to 0.45% of trade value for stocks only.
Spreads
📈 EUR/USD
Dynamic - From 0 pips	Dynamic - From 1.6 Pips
📉 SP500
Dynamic - From 30 Pips	Dynamic - From 120 Pips
📈 GOLD
Dynamic - From 11 pips	Dynamic - From 63 Pips
📉 TSLA (Stock CFD)
Dynamic - From $0.48	Unavailable
📈 XLK (ETF - CFD)
Unavailable	Unavailable
📉 BTC
Dynamic - From $32	Dynamic - From $505
Research and Analysis
⭐ Watchlists
Yes	Yes
🔭 Stock Screener
Yes	No
🗓 Economic Calendar
Yes	Yes
📜 Integrated Newsfeed
Yes	No
📡 Reuters Feed
No	No
📡 Educational Content
No	No
📡 Live Chat Support
No	No
📡 Video Tutorials
No	No
📡 Account Management
No	Yes
📡 Webinars
No	No