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


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.	OvalX (formerly ETX Capital) offers 60 currency pairs and a wide selection of equities for the beginning and experienced investors with no deposit and withdrawal fees.
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	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	1965
💳 Minimum Deposit Range
$100	From $100 to $10,000
💰 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
Banking License
No	No
Debit Card
No	No
Assets
📚 Assets Type
CFDs	CFDs
Total Asset Offering
12,091	5,174
Exchange Access
0	0
📙 Real Stocks
0	0
📙 Stock CFDs
12,000	5,000
📘 Currency Pairs
0	0
📘 Currency Pair CFDs
55	60
📗 Commodities
0	0
📗 Commodities CFDs
6	17
📕 Indices
0	0
📕 Indices CFDs
15	20
📔 ETFs
0	0
📔 ETFs CFDs
0	19
💸 Cryptocurrencies
0	0
💸 Cryptocurrency CFDs
15	5
📒 Bonds
0	0
📒 Bonds CFDs
0	8
📓 Options
0	0
📓 Options CFDs
0	0
📗 Futures
0	0
📗 Futures CFDs
0	45
Trading Experience
📈 Minimum Stock Trade Size
1 Share	1 Share
📉 Minimum ETFs Trade Size
Unavailable	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
Unavailable	1 Bond
📈 Minimum Futures Trade Size
Unavailable	Varies per futures contract (Eg: 0.1 Copper, 1 for Bonds)
📉 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	Yes
📱 Android App
Yes	Yes
📺 MetaTrader 4
Yes	Yes
📺 MetaTrader 5
Yes	No
📺 cTrader
No	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.	None
💰 Deposit Fees
None	None
💰 Withdrawal Fees
None	None
💰 Commissions
Yes, from $3.5 per lot round turn	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)
Unavailable	Unavailable
📉 BTC
Dynamic - From $32	Dynamic - From $226.4
Research and Analysis
⭐ Watchlists
Yes	Yes
🔭 Stock Screener
Yes	No
🗓 Economic Calendar
Yes	No
📜 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