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


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)	None
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 Range
$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
Banking License
No	No
Debit Card
No	No
Assets
📚 Assets Type
CFDs	CFDs
Total Asset Offering
12,091	80
Exchange Access
0	0
📙 Real Stocks
0	0
📙 Stock CFDs
12,000	0
📘 Currency Pairs
0	0
📘 Currency Pair CFDs
55	35
📗 Commodities
0	0
📗 Commodities CFDs
6	5
📕 Indices
0	0
📕 Indices CFDs
15	10
📔 ETFs
0	0
📔 ETFs CFDs
0	0
💸 Cryptocurrencies
0	0
💸 Cryptocurrency CFDs
15	30
📒 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)	$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
Unavailable	Unavailable
📈 Minimum Futures Trade Size
Unavailable	Unavailable
📉 Minimum Options Trade Size
Unavailable	Unavailable
💪 Retail Leverage
500	500
💪 Professional Leverage
Unavailable	Unavailable
✍ Customisable Leverage
Yes	Yes
🎲 Deleveraged Trading
Yes	Yes
🎓 Demo Account
Yes	Yes
📱 IOS App
Yes	Yes
📱 Android App
Yes	Yes
📺 MetaTrader 4
Yes	Yes
📺 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	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.	None
💰 Deposit Fees
None	None
💰 Withdrawal Fees
None	None
💰 Commissions
Yes, from $3.5 per lot round turn	None
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	Unavailable
📈 XLK (ETF - CFD)
Unavailable	Unavailable
📉 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
📡 Educational Content
No	No
📡 Live Chat Support
No	No
📡 Video Tutorials
No	No
📡 Account Management
No	No
📡 Webinars
No	No