Vestle
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76.68% of retail CFD accounts lose money

Vs.

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

Vestle Vs. TMGM - Compare and Choose the Right One

Updated Dec 14 2021

Visit

76.68% of retail CFD accounts lose money

Visit

74-89% of retail CFD accounts lose money.

Overview

Vestle is a new brokerage brand part of the iForex Group that specialises in CFD trading and offers over 600 instruments over currencies, commodities, indices, shares, ETFs and cryptocurrencies.

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.

Best For
  • Beginner traders with little to no experience looking to test a simple platform
  • Swing traders who can use high leverage
  • Stock traders who do not have access or funds to trade with specialised brokers
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The Good
  • Extremely simple platform designed for beginners with little needs
  • High and flexible leverage
  • No deposit or withdrawal fees
  • Supports Expert Advisors (EAs), hedging and news trading
The Bad
  • 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
  • Only has financial derivatives (CFDs)
  • Inactivity fee is tied to minimum account balance
Status
Operational Operational
Recent News
N/A N/A
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.

🏛 Financial Regulators
  • Cyprus Securities and Exchange Commission
  • ASIC (Australia)
  • FMA (New Zealand)
  • VFSC (Vanuatu)
📍 Year Founded
2018 2013
💳 Minimum Deposit

200 € (But it can change at their discretion)

$, -100
💰 Payment Methods
  • Bank Wire
  • Credit Card
  • Debit Card
  • Bank Transfer
  • Credit cards
  • Debit cards
  • FasaPay
  • Neteller
  • RMB Instant
  • Revolut
  • Paytrust
  • Skrill
  • Sticpay
  • UnionPay
  • Wise
💵 Account Base Currencies
1 - EUR 6 - EUR, USD, GBP, AUD, NZD, CAD
🗽 Available to U.S Citizens
No No
❌ Restricted Countries
US, CA, SY, IR, JP. US.
📊 STP Account
Yes Yes
📊 DMA Account
No Yes
📊 ECN Account
No Yes
Assets
📚 Available Assets

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

CFDs on stocks, currencies, commodities and indices.

📙 Stocks
400+ 12,000+
📘 Currency Pairs
50+ 55
📗 Commodities
19 6
📕 Indices
32 15
📔 ETFs
42 N/A
💸 Cryptocurrencies
41 12
📒 Bonds
N/A N/A
📓 Options
N/A N/A
📗 Futures
N/A N/A
📝 Notes:

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.

All of TMGM's assets are CFDs

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

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

$30 fee if there is no activity for 6 months or if the account balance falls below $500.

💰 Deposit Fees
No No
💰 Withdrawal Fees

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

No
💰 Commissions
No

Yes, from $3.5 per lot round turn

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

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