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

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OctaFX
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TMGM Vs. OctaFX - Compare and Choose the Right One

Updated May 13 2022

Visit

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

Visit

Your capital is at 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.

OctaFX is an international FX broker operating as an incorporated company from St. Vincent and the Grenadines specialising in currencies trading via MetaTrader 4 & 5.

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 high leverage off-shore broker
  • New traders looking to experiment using MT4 & 5 with a no commission low-cost broker
Licenses

Financial
Licenses

Regulation

Regulated

Top-tier Licenses

1

Other Licenses

2

Provided by
TheTradingBible.com

Learn More

Financial
Licenses

Regulation

Unregulated

Top-tier Licenses

0

Other Licenses

0

Provided by
TheTradingBible.com

Learn More
🏛 Financial Regulators
  • ASIC (Australia)
  • FMA (New Zealand)
  • VFSC (Vanuatu)
  • Not regulated, Registered in St. Vincent and the Grenadines under IBC 19776.
The Good
  • High and flexible leverage
  • No deposit or withdrawal fees
  • Supports Expert Advisors (EAs), hedging and news trading
  • High leverage offered due to no regulatory restrictions
  • MetaTrader 4 & 5 platforms with their own copy trading integration
  • Low minimum deposit
The Bad
  • Only has financial derivatives (CFDs)
  • Inactivity fee is tied to minimum account balance
  • Despite having financial licenses, OctaFX does not operate using them, meaning that they are an unregulated broker.
  • Their asset offering is extremely limited (80 instruments)
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 2011
💳 Minimum Deposit
$, -100 $25
💰 Payment Methods
  • Bank Transfer
  • Credit cards
  • Debit cards
  • FasaPay
  • Neteller
  • RMB Instant
  • Revolut
  • Paytrust
  • Skrill
  • Sticpay
  • UnionPay
  • Wise
  • Visa
  • Mastercard
  • Maestro
  • Skrill
  • Neteller
  • Bitcoin
  • Ethereum
  • USDT (Tether)
  • Litecoin
  • Dogecoin
  • Bank Transfer
💵 Account Base Currencies
6 - EUR, USD, GBP, AUD, NZD, CAD 2 - EUR, USD.
🗽 Available to U.S Citizens
No No
❌ Restricted Countries
US. US, CA.
📊 STP Account
Yes Yes
📊 DMA Account
Yes No
📊 ECN Account
Yes Yes
Assets
📚 Available Assets

CFDs on stocks, currencies, commodities and indices.

CFDs on currencies, commodities, indices and cryptocurrencies.

📙 Stocks
12,000+ N/A
📘 Currency Pairs
55 35
📗 Commodities
6 5
📕 Indices
15 10
📔 ETFs
N/A N/A
💸 Cryptocurrencies
12 30
📒 Bonds
N/A N/A
📓 Options
N/A N/A
📗 Futures
N/A N/A
📝 Notes:

All of TMGM's assets are CFDs

All of OctaFX’s assets are CFDs.

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) $1,000 (0.01 Lots)
📉 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) $1,000 (0.01 Lots)
📉 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 1:500
💪 Professional Leverage
Up to 1:500 N/A
✍ Customisable Leverage
Yes Yes
🎲 Deleveraged Trading
Yes Yes
🎓 Demo Account
Yes Yes
📱 IOS App
Yes No
📱 Android App
Yes 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 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

No
Spreads
📈 EUR/USD
Dynamic - From 0 pips Dynamic - From 0.6 Pips
📉 SP500
Dynamic - From 30 Pips Dynamic - From 20 Pips
📈 GOLD
Dynamic - From 11 pips Dynamic - From 180 Pips
📉 TSLA (Stock CFD)
Dynamic - From $0.48 N/A
📈 XLK (ETF - CFD)
N/A N/A
📉 BTC
Dynamic - From $32 Dynamic - From $57
Research and Analysis
⭐ Watchlists
Yes Yes
🔭 Stock Screener
Yes No
🗓 Economic Calendar
Yes Yes
📜 Integrated Newsfeed
Yes No
📡 Reuters Feed
No No