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Home ‣ Compare ‣ BlackBull Markets vs TMGM 2025

BlackBull Markets vs TMGM 2025

ForexBrokers.com

Written by ForexBrokers.com

February 05, 2025

In this head to head comparison of BlackBull Markets vs TMGM, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.

BlackBull Markets
4.5/5 Stars Overall
  • Minimum Deposit: $0
  • Trust Score: 78
  • Tradeable Symbols (Total): 26000
TMGM
4/5 Stars Overall
  • Minimum Deposit: $100
  • Trust Score: 83
  • Tradeable Symbols (Total): 12000

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Regulation

BlackBull Markets and TMGM are both private online brokerages, not publicly traded or affiliated with banks. BlackBull Markets, founded in 2014, holds one Tier-1 license, positioning it in the 'average risk' category with a Trust Score of 78 according to ForexBrokers.com. In contrast, TMGM was established in 2013 and holds two Tier-1 licenses, earning a 'trusted' Trust Score of 83. Both companies lack Tier-2 licenses, which are also considered trusted by ForexBrokers.com.

While BlackBull Markets demonstrates decent regulatory strength with its Tier-1 license, TMGM offers a slightly higher level of regulatory assurance with an additional Tier-1 license. This distinction places TMGM in a more favorable position when comparing their Trust Scores and regulatory credentials, suggesting TMGM might be a more trusted choice for some traders.

Feature BlackBull Markets logoBlackBull Markets
TMGM logoTMGM
Year Founded info 2014 2013
Publicly Traded (Listed) info No No
Bank info No No
Tier-1 Licenses info 1 2
Tier-2 Licenses info 0 0
Tier-3 Licenses info 0 0
Tier-4 Licenses info 1 2

Fees

BlackBull Markets and TMGM both aim to keep trading costs in check, but BlackBull stands out a bit more on transparency and published data. BlackBull Markets earns 4.5/5 stars and ranks #19 of 63 for Commissions and Fees at ForexBrokers.com, while TMGM earns 4/5 stars and ranks #37. Pricing at both brokers varies by account type; overall, BlackBull’s costs are around the industry average, and TMGM’s are competitive but harder to benchmark because recent average spread data for EUR/USD was not available.

At BlackBull Markets, the Standard account is commission-free with no minimum deposit but comes with higher spreads. The Prime account requires a $2,000 minimum and charges $3 per side ($6 round turn) per lot, paired with lower spreads; in March 2024 the EUR/USD averaged 0.16 pips on Prime, for an all-in cost of about 0.76 pips including commission—often the better value. Active traders can opt for the ECN Institutional account with a $20,000 minimum and lower commissions of $2 per side ($4 round turn).

TMGM offers a spread-only Classic account and a commission-based Edge account. Edge adds a small $3.50 per side ($7 round trip) commission to typically low spreads and advertises no requotes; it’s also required if you need a swap-free (Islamic) account, as Classic does not support that. Since TMGM did not publish recent average EUR/USD spreads, calculating precise all-in costs is tougher compared with BlackBull Markets.

Feature BlackBull Markets logoBlackBull Markets
TMGM logoTMGM
Minimum Deposit info $0 $100
Average Spread EUR/USD - Standard info 0.71 info N/A info
All-in Cost EUR/USD - Active info 0.71 info N/A info
Active Trader or VIP Discounts info Yes No
ACH or SEPA Transfers info No No
PayPal (Deposit/Withdraw) info No Yes
Skrill (Deposit/Withdraw) info Yes Yes
Visa/Mastercard (Credit/Debit) info Yes Yes
Bank Wire (Deposit/Withdraw) info Yes Yes

Dive deeper: Best Low Spread Forex Brokers.

Featured Offers


Range of investments

BlackBull Markets vs TMGM: both support forex trading (CFD/spot) and copy trading, but their product ranges differ. BlackBull Markets lists about 26,000 tradeable instruments and 72 forex pairs, while TMGM offers roughly 12,000 instruments and 62 pairs. BlackBull also provides access to exchange-traded shares on U.S. and international exchanges (not CFDs), whereas TMGM does not offer direct share dealing.

Neither broker sells actual cryptocurrency, but both offer cryptocurrency derivatives. For Range of Investments, BlackBull Markets earns 5 stars and ranks 6th out of 63 at ForexBrokers.com; TMGM scores 4.5 stars and ranks 18th. If you want the widest selection and the ability to buy real shares alongside CFDs, BlackBull Markets is the broader choice. If you prefer a large, CFD-focused mix with copy trading and crypto derivatives, TMGM still covers a lot of ground.

Feature BlackBull Markets logoBlackBull Markets
TMGM logoTMGM
Forex Trading (Spot or CFDs) info Yes Yes
Tradeable Symbols (Total) info 26000 12000
Forex Pairs (Total) info 72 62
U.S. Stock Trading (Non CFD) info Yes No
Int'l Stock Trading (Non CFD) info Yes No
Social Trading / Copy Trading info Yes Yes
Cryptocurrency (Physical) info No No
Cryptocurrency (Derivative) info Yes Yes
Disclaimers Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients).

Dive deeper: Best Copy Trading Platforms.

Trading platforms and tools

BlackBull Markets and TMGM both check the key boxes for platform access and ease of use. Each broker offers a free demo (paper) account, a Windows desktop platform, and a web-based platform. Neither has a proprietary platform; instead, both support MetaTrader 4 (MT4) and MetaTrader 5 (MT5). Copy trading is available at both brokers, though there’s a notable difference in third-party options: BlackBull Markets supports ZuluTrade while TMGM does not. DupliTrade isn’t available at either broker. You can place trades directly from charts with both.

For charting and workspace tools, BlackBull Markets lists 60 drawing tools versus 15 at TMGM, while TMGM offers one extra watchlist column (7 vs 6). Both earn 4 out of 5 stars for Trading Platforms and Tools from ForexBrokers.com, but their category rankings differ: BlackBull Markets is placed 31st out of 63 brokers, compared with TMGM at 49th. In short, traders who value ZuluTrade and more drawing tools may lean toward BlackBull Markets, while those who prefer an extra watchlist field may favor TMGM.

Feature BlackBull Markets logoBlackBull Markets
TMGM logoTMGM
Virtual Trading (Demo) info Yes Yes
Proprietary Platform info No No
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
Social Trading / Copy Trading info Yes Yes
MetaTrader 4 (MT4) info Yes Yes
MetaTrader 5 (MT5) info Yes Yes
DupliTrade info No No
ZuluTrade info Yes No
Charting - Indicators / Studies (Total) info 109 30
Charting - Drawing Tools (Total) info 60 15
Charting - Trade From Chart info Yes Yes
Watchlists - Total Fields info 6 7

Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.

Forex trading apps

BlackBull Markets and TMGM both deliver full-featured mobile trading apps for iPhone and Android. Each app supports price alerts and real-time quote watchlists, and both earn 4 out of 5 stars for mobile trading. A key difference is watchlist syncing: BlackBull Markets syncs your watchlists between the mobile app and your online account, while TMGM does not. In ForexBrokers.com’s Mobile Trading Apps rankings out of 63 brokers, BlackBull sits at #33 and TMGM at #48.

Charting tools are evenly matched. Both apps offer 30 technical studies, trendline drawing, multiple time frames (intraday to weekly), and auto-saving of chart annotations. If seamless watchlist syncing across devices matters to you, BlackBull Markets has the edge; otherwise, both apps cover the core features traders expect on the go.

Feature BlackBull Markets logoBlackBull Markets
TMGM logoTMGM
Android App info Yes Yes
Apple iOS App info Yes Yes
Mobile Alerts - Basic Fields info Yes Yes
Watchlist Syncing info Yes No
Mobile Charting - Indicators / Studies info 30 30
Mobile Charting - Draw Trendlines info Yes Yes
Mobile Charting - Multiple Time Frames info Yes Yes
Mobile Charting - Drawings Autosave info Yes Yes
Mobile Watchlist info Yes Yes

Dive deeper: Best Forex Trading Apps.

Market research

BlackBull Markets and TMGM both provide daily market commentary, an economic calendar, and a sentiment tool that shows the ratio of long vs. short positions. The key differences are in third‑party research: BlackBull Markets integrates Autochartist, while TMGM offers Trading Central and Acuity Trading (Signal Centre). For news, TMGM streams forex headlines from top‑tier sources like Bloomberg/Reuters/Dow Jones, whereas BlackBull Markets does not. Neither broker includes TipRanks.

According to ForexBrokers.com, BlackBull Markets earns 4 stars for research and ranks #18 out of 63 brokers, while TMGM scores 3.5 stars and ranks #54. In short, choose TMGM if built‑in premium news and Trading Central/Acuity tools matter most; pick BlackBull Markets if you value Autochartist alongside strong overall research scores. Both remain solid for everyday commentary, market calendars, and sentiment insights.

Feature BlackBull Markets logoBlackBull Markets
TMGM logoTMGM
Daily Market Commentary info Yes Yes
Forex News (Top-Tier Sources) info No Yes
Autochartist info Yes No
Trading Central (Recognia) info No Yes
Social Sentiment - Currency Pairs info Yes Yes
TipRanks info No No
Signal Centre (Acuity Trading) info No Yes
Economic Calendar info Yes Yes

Dive deeper: Best Brokers for Forex Research.

Beginners and education

For beginners stepping into the world of online trading, BlackBull Markets and TMGM offer different educational resources. BlackBull Markets stands out with a range of training options tailored for newcomers. It provides over ten educational pieces focusing on forex and CFDs, ensuring that there's ample material for foundational learning. Moreover, BlackBull holds monthly online webinars and supplies a rich archive of recorded sessions that customers can access anytime. BlackBull Markets also boasts a series of over ten beginner-friendly videos and an advanced set of videos covering more complex trading techniques, making it a versatile choice for both novice and experienced traders. Furthermore, BlackBull provides an investor dictionary with explanations for over fifty trading terms, assisting users in enhancing their trading vocabulary.

TMGM, while offering some valuable learning tools, lacks in certain areas compared to BlackBull Markets. Although TMGM does provide a searchable archive of recorded webinars and holds an investor dictionary similar to BlackBull's offering, it falls short in other educational content. TMGM does not meet the mark with a minimum of ten educational pieces or a dedicated set of beginner or advanced trading videos. When ranked by ForexBrokers.com, BlackBull Markets proves to be a more favorable choice, positioned at number 29 for education out of 63 brokers, while TMGM trails at number 54. BlackBull Markets earns four stars for its educational content, slightly edging TMGM's rating of 3.5 stars. Overall, BlackBull Markets presents a more comprehensive educational experience for traders stepping into the market.

Feature BlackBull Markets logoBlackBull Markets
TMGM logoTMGM
Education (Forex or CFDs) info Yes No
Client Webinars info Yes No
Client Webinars (Archived) info Yes Yes
Videos - Beginner Trading Videos info Yes No
Videos - Advanced Trading Videos info Yes No
Investor Dictionary (Glossary) info Yes Yes

Dive deeper: Best Forex Brokers for Beginners.

Winner

After testing 63 of the best forex brokers, our research and account testing finds that BlackBull Markets is better than TMGM. BlackBull Markets finished with an overall rank of #24, while TMGM finished with an overall rank of #37.

BlackBull Markets is a plain-vanilla MetaTrader broker with a growing range of products and support for a handful of third-party social copy trading platforms.

Feature BlackBull Markets logoBlackBull Markets
TMGM logoTMGM
Overall Rating info 4.5/5 Stars 4/5 Stars
Trust Score info 78 83
Range of Investments 5/5 Stars 4.5/5 Stars
Commissions & Fees 4.5/5 Stars 4/5 Stars
Platforms & Tools 4/5 Stars 4/5 Stars
Research 4/5 Stars 3.5/5 Stars
Mobile Trading 4/5 Stars 4/5 Stars
Education 4/5 Stars 3.5/5 Stars

FAQs

Can you trade cryptocurrency with BlackBull Markets or TMGM?

Both BlackBull Markets and TMGM do not offer the ability to purchase actual delivered cryptocurrency, but they do provide options to trade cryptocurrency derivatives.

What funding options does each broker offer?

When comparing the online brokers BlackBull Markets and TMGM, both do not support ACH or SEPA transfers, but BlackBull Markets lacks PayPal support, which TMGM offers, while both platforms provide Skrill, Visa, Mastercard, and bank wire options for depositing and withdrawing funds.

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Overall Rating BlackBull Markets TMGM
Overall Rating info 4.5/5 Stars 4/5 Stars
Commissions & Fees 4.5/5 Stars 4/5 Stars
Range of Investments 5/5 Stars 4.5/5 Stars
Platforms & Tools 4/5 Stars 4/5 Stars
Mobile Trading 4/5 Stars 4/5 Stars
Research 4/5 Stars 3.5/5 Stars
Education 4/5 Stars 3.5/5 Stars
Trust Score info 78 83
Winner check_circle
Review BlackBull Markets Review TMGM Review
Broker Screenshots BlackBull Markets TMGM
Broker Gallery (click to expand) info
BlackBull Markets MT5 mobile trading app BlackBull Markets MetaTrader 5 MT5 desktop platform. BlackBull Markets economic calendar. BlackBull Markets Trading Podcasts playlist.
TMGM MetaTrader 5 MT5 mobile app charts. TMGM client dashboard login TMGM Research Acuity Trading Signal Centre trading signals detail. TMGM learning center academy educational beginner courses progress tracking
Regulation BlackBull Markets TMGM
Trust Score info 78 83
Year Founded info 2014 2013
Publicly Traded (Listed) info No No
Bank info No No
Regulated in one or more EU or EEA countries (MiFID). info No info No info
Tier-1 Licenses info 1 2
Tier-2 Licenses info 0 0
Tier-3 Licenses info 0 0
Tier-4 Licenses info 1 2
Tier-1 Licenses (Highly Trusted) BlackBull Markets TMGM
Australia (ASIC Authorised) info No Yes
Canada (CIRO Authorised) info No No
Hong Kong (SFC Authorised) info No No
Japan (SFC Authorised) info No No
Singapore (MAS Authorised) info No No
Switzerland (FINMA Authorised) info
United Kingdom (U.K.) (FCA Authorised) info No No
USA (CFTC Authorized) info No No
New Zealand (FMA Authorised) info Yes Yes
Regulated in one or more EU or EEA countries (MiFID). info No info No info
Tier-2 Licenses (Trusted) BlackBull Markets TMGM
Kenya (CMA Authorised) info
Israel (ISA Authorised) info No No
South Africa (FSCA Authorised) info No No
UAE (DFSA/Central Bank Authorised) info No No
India (SEBI Authorised) info No No
Jordan (JSC Authorised) info
Investments BlackBull Markets TMGM
Forex Trading (Spot or CFDs) info Yes Yes
Tradeable Symbols (Total) info 26000 12000
Forex Pairs (Total) info 72 62
U.S. Stock Trading (Non CFD) info Yes No
Int'l Stock Trading (Non CFD) info Yes No
Social Trading / Copy Trading info Yes Yes
Cryptocurrency (Physical) info No No
Cryptocurrency (Derivative) info Yes Yes
Disclaimers Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients).
Cost BlackBull Markets TMGM
Average Spread EUR/USD - Standard info 0.71 info N/A info
All-in Cost EUR/USD - Active info 0.71 info N/A info
Active Trader or VIP Discounts info Yes No
Inactivity Fee info No Yes
Execution: Agency Broker info No Yes
Execution: Market Maker info Yes Yes
Funding BlackBull Markets TMGM
Minimum Deposit info $0 $100
PayPal (Deposit/Withdraw) info No Yes
Skrill (Deposit/Withdraw) info Yes Yes
Visa/Mastercard (Credit/Debit) info Yes Yes
Bank Wire (Deposit/Withdraw) info Yes Yes
ACH or SEPA Transfers info No No
Trading Platforms BlackBull Markets TMGM
Proprietary Platform info No No
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
Social Trading / Copy Trading info Yes Yes
MetaTrader 4 (MT4) info Yes Yes
MetaTrader 5 (MT5) info Yes Yes
cTrader info Yes No
DupliTrade info No No
ZuluTrade info Yes No
Trading Tools BlackBull Markets TMGM
Virtual Trading (Demo) info Yes Yes
Alerts - Basic Fields info Yes Yes
Watchlists - Total Fields info 6 7
Charting - Indicators / Studies (Total) info 109 30
Charting - Drawing Tools (Total) info 60 15
Charting - Trade From Chart info Yes Yes
Charts can be saved info Yes Yes
Mobile Trading BlackBull Markets TMGM
Android App info Yes Yes
Apple iOS App info Yes Yes
Mobile Alerts - Basic Fields info Yes Yes
Mobile Watchlist info Yes Yes
Watchlist Syncing info Yes No
Mobile Charting - Indicators / Studies info 30 30
Mobile Charting - Draw Trendlines info Yes Yes
Mobile Charting - Multiple Time Frames info Yes Yes
Mobile Charting - Drawings Autosave info Yes Yes
Mobile Economic Calendar info Yes Yes
Research BlackBull Markets TMGM
Daily Market Commentary info Yes Yes
Forex News (Top-Tier Sources) info No Yes
Autochartist info Yes No
Trading Central (Recognia) info No Yes
TipRanks info No No
Social Sentiment - Currency Pairs info Yes Yes
Economic Calendar info Yes Yes
Education BlackBull Markets TMGM
Education (Forex or CFDs) info Yes No
Client Webinars info Yes No
Client Webinars (Archived) info Yes Yes
Videos - Beginner Trading Videos info Yes No
Videos - Advanced Trading Videos info Yes No
Investor Dictionary (Glossary) info Yes Yes
Major Forex Pairs BlackBull Markets TMGM
GBP/USD info Yes Yes
USD/JPY info Yes Yes
EUR/USD info Yes Yes
USD/CHF info Yes Yes
USD/CAD info Yes Yes
NZD/USD info Yes Yes
AUD/USD info Yes Yes
Review BlackBull Markets Review TMGM Review
Overall BlackBull Markets TMGM
Overall Rating info 4.5/5 Stars 4/5 Stars
Commissions & Fees 4.5/5 Stars 4/5 Stars
Range of Investments 5/5 Stars 4.5/5 Stars
Platforms & Tools 4/5 Stars 4/5 Stars
Mobile Trading 4/5 Stars 4/5 Stars
Research 4/5 Stars 3.5/5 Stars
Education 4/5 Stars 3.5/5 Stars
Trust Score info 78 83
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Review BlackBull Markets Review TMGM Review
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