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

Vs.

Vestle
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89.13% of retail CFD accounts lose money.

TMGM Vs. Vestle - Compare and Choose the Right One

Updated May 13 2022

Visit

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

Visit

89.13% 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.

Vestle was a brand part of the iForex Group that specialised in CFD trading and offered over 600 different financial instruments. Currently they're no longer operative and have rebranded themselves to iFOREX Europe.

Best For
  • Swing traders who can use high leverage
  • Stock traders who do not have access or funds to trade with specialised brokers
  • Beginner traders with little to no experience looking to test a simple platform
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

1

Provided by
TheTradingBible.com

Learn More
🏛 Financial Regulators
  • ASIC (Australia)
  • FMA (New Zealand)
  • VFSC (Vanuatu)
  • CySec (Cyprus)
The Good
  • High and flexible leverage
  • No deposit or withdrawal fees
  • Supports Expert Advisors (EAs), hedging and news trading
  • Extremely simple platform designed for beginners with little needs
The Bad
  • Only has financial derivatives (CFDs)
  • Inactivity fee is tied to minimum account balance
  • High spreads on all of their instruments
  • Web and mobile platforms are slow and lack tools
  • Their FAQ database doesn’t effectively answer the most common questions any trader could have
Status
Operational Inactive
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 2018
💳 Minimum Deposit
$, -100

200 € (But it can change at their discretion)

💰 Payment Methods
  • Bank Transfer
  • Credit cards
  • Debit cards
  • FasaPay
  • Neteller
  • RMB Instant
  • Revolut
  • Paytrust
  • Skrill
  • Sticpay
  • UnionPay
  • Wise
  • Bank Wire
  • Credit Card
  • Debit Card
💵 Account Base Currencies
6 - EUR, USD, GBP, AUD, NZD, CAD 1 - EUR
🗽 Available to U.S Citizens
No No
❌ Restricted Countries
US. US, CA, SY, IR, JP.
📊 STP Account
Yes Yes
📊 DMA Account
Yes No
📊 ECN Account
Yes No
Assets
📚 Available Assets

CFDs on stocks, currencies, commodities and indices.

CFDs on currencies, commodities, indices, shares, ETFs and cryptocurrencies

📙 Stocks
12,000+ 400+
📘 Currency Pairs
55 50+
📗 Commodities
6 19
📕 Indices
15 32
📔 ETFs
N/A 42
💸 Cryptocurrencies
12 41
📒 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 Vestle’s assets are CFDs yet they do provide a “No Leverage” tab with a few assets under 1:1 conditions for traders that do not wish to expose themselves to the risk.

Trading Experience
📈 Minimum Stock Trade Size
1 Share $2,500 in trade value
📉 Minimum ETFs Trade Size
N/A $2,500 in trade value
📈 Minimum Crypto Trade Size
Varies per Cryptocurrency (Eg: 0.01 BTC) $2,500 in trade value
📉 Minimum FX Trade Size
$1,000 (0.01 lots) $2,500 in trade value
📈 Minimum Commodities Trade Size
Varies per Commodity (0.01 lots for gold, 1 lot for Crude Oil) $2,500 in trade value
📉 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 1:30
💪 Professional Leverage
Up to 1:500 Up to 1:500
✍ Customisable Leverage
Yes No
🎲 Deleveraged Trading
Yes Yes
🎓 Demo Account
Yes Yes
📱 IOS App
Yes Yes
📱 Android App
Yes Yes
📺 MetaTrader 4
Yes No
📺 MetaTrader 5
Yes No
💻 Web trader
Yes Yes
💻 TradingView Platform
No No
💻 Proprietary Platform
No Yes
📊 Multi-chart Tools
Yes No
👬 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.

Vestle charges an inactivity fee of $15 for every quarter of inactivity.

💰 Deposit Fees
No No
💰 Withdrawal Fees
No

No for credit cards but yes for bank wires (up to $20).

💰 Commissions

Yes, from $3.5 per lot round turn

No
Spreads
📈 EUR/USD
Dynamic - From 0 pips Dynamic - From 0.7 Pips
📉 SP500
Dynamic - From 30 Pips Dynamic - From 90 Pips
📈 GOLD
Dynamic - From 11 pips Dynamic - From 35 Pips
📉 TSLA (Stock CFD)
Dynamic - From $0.48 Dynamic - From $3
📈 XLK (ETF - CFD)
N/A Dynamic - From 30 Pips
📉 BTC
Dynamic - From $32 Dynamic - From $120
Research and Analysis
⭐ Watchlists
Yes Yes
🔭 Stock Screener
Yes No
🗓 Economic Calendar
Yes Yes
📜 Integrated Newsfeed
Yes No
📡 Reuters Feed
No No