Written by ForexBrokers.com
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.
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.
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
|
TMGM
|
|---|---|---|
| Year Founded | 2014 | 2013 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 1 | 2 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 2 |
BlackBull Markets and TMGM offer different structures when it comes to commissions and fees, each catering to various trading preferences. BlackBull Markets stands out with a 4.5-star rating, ranked #18 out of 63 brokers by ForexBrokers.com. Their trading costs are generally average, but they vary based on the account type. The Prime account features a competitive spread of 0.16 on EUR/USD, with an all-in cost of 0.76 including a $6 commission per 10,000 traded. Although it requires a $2,000 minimum deposit, its lower spreads make it a favorable option over the commission-free Standard account, which allows for higher spreads and has no deposit requirement. The ECN Institutional account targets active traders ready to deposit at least $20,000, offering even lower commission rates.
On the other hand, TMGM has a 4-star rating and is ranked #36 by ForexBrokers.com. It offers competitive rates, particularly through its Edge account, which is commission-based. The Edge account charges a commission of $3.50 per side, or $7 round trip, in addition to low prevailing spreads. This account offers low spreads and no requotes, making it an attractive option for traders. However, specific recent average spread data for EUR/USD wasn't available, which could be a drawback for those who rely on precise cost data. The Classic account, while accessible, operates on a spread-only basis, which might not offer as low an overall cost compared to the Edge account.
Both brokers provide Islamic finance options, but only TMGM's Edge account supports swap-free trading, making it suitable for Sharia-compliant needs. In summary, if lower spreads and well-publicized cost transparency are a priority, BlackBull’s Prime account might be the better option. For those who prefer a mix of low commissions and spreads in a single account with interest-free options, TMGM's Edge account could be the preferred choice.
| Feature |
BlackBull Markets
|
TMGM
|
|---|---|---|
| Minimum Deposit | $0 | $100 |
| Average Spread EUR/USD - Standard | 0.71 | N/A |
| All-in Cost EUR/USD - Active | 0.71 | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When considering the available range of investments, BlackBull Markets stands out by offering an impressive 26,000 tradeable symbols compared to TMGM's 12,000. Both platforms provide forex trading as CFDs or spot contracts, with BlackBull Markets offering access to 72 tradeable forex pairs, while TMGM provides 62. A significant advantage for BlackBull Markets is its provision of exchange-traded securities from U.S. and international exchanges, allowing clients to directly purchase stocks like Apple and Vodafone. In contrast, TMGM does not support direct trading in these securities, focusing more on derivatives.
Both BlackBull Markets and TMGM cater to crypto enthusiasts by offering cryptocurrency derivatives, though neither allows the purchase of actual cryptocurrencies. Copy trading is available on both platforms, appealing to those who prefer strategy replication. With a five-star rating for its range of investments, BlackBull Markets outshines TMGM's 4.5-star rating in this category and is ranked 6th out of 63 brokers by ForexBrokers.com, exceeding TMGM's ranking at 17th. This positions BlackBull Markets as a strong choice for investors seeking a diverse array of investment opportunities.
| Feature |
BlackBull Markets
|
TMGM
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 26000 | 12000 |
| Forex Pairs (Total) | 72 | 62 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | 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.
BlackBull Markets and TMGM both offer a rich selection of trading platforms and tools to meet the needs of their clients. Each broker provides access to popular platforms like MetaTrader 4 (MT4) and MetaTrader 5 (MT5), along with browser-based options that give traders flexible access to their accounts. They also provide simulated trading through free virtual demo accounts to help users practice their strategies risk-free. While neither broker offers a developed-in-house platform, they both support third-party tools like copy trading, though BlackBull Markets has the edge with the inclusion of ZuluTrade, which TMGM does not offer.
In terms of charting features, BlackBull Markets offers more drawing tools with a total of 60 compared to TMGM's 15, which can provide an enhanced user experience for traders who rely on technical analysis. Both brokers allow trading directly from charts and have watch lists for tracking investments, though TMGM offers an extra field for more detailed customization. Despite their four-star ratings, BlackBull Markets ranks higher at 29th for Trading Platforms and Tools according to ForexBrokers.com, compared to TMGM’s 48th place out of 63 brokers, making BlackBull Markets slightly more attractive in the platforms and tools category.
| Feature |
BlackBull Markets
|
TMGM
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | No | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| DupliTrade | No | No |
| ZuluTrade | Yes | No |
| Charting - Indicators / Studies (Total) | 109 | 30 |
| Charting - Drawing Tools (Total) | 60 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 6 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of BlackBull Markets and TMGM, you'll find several shared offerings and a few distinctions. Both brokers provide apps for iPhone and Android, allowing traders to access the markets on the go. They also support stock and forex price alerts, providing you real-time updates no matter where you are. Charting capabilities are a strong point for both, featuring the ability to draw trendlines and view different time frames with 30 technical studies available in each app. However, BlackBull Markets steps ahead with its watchlist symbol syncing feature, allowing users to sync watchlists between their mobile app and online account seamlessly—unlike TMGM, which lacks this capability.
In terms of additional app features, both brokers offer real-time quote-enabled watchlists and automatically save chart drawings, making it easy for traders to track and analyze their investments. When it comes to user ratings, both apps have been given a solid 4-star rating for mobile trading. However, BlackBull Markets distinguishes itself with a higher ranking, securing the 31st spot out of 63 brokers according to ForexBrokers.com, compared to TMGM’s 47th place. This difference suggests that BlackBull Markets may offer a slightly better mobile trading experience overall.
| Feature |
BlackBull Markets
|
TMGM
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 30 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing BlackBull Markets and TMGM for market research offerings, both brokers have their strengths and weaknesses. BlackBull Markets and TMGM each provide daily market commentary and a helpful economic calendar for tracking global events. While BlackBull Markets includes tools from the company Autochartist and offers a sentiment-based trading tool, it does not provide forex news from top-tier sources like Bloomberg or Reuters, nor research from Trading Central or Acuity Trading. On the other hand, TMGM excels by offering forex news from premium providers and includes resources from Trading Central and Acuity Trading. However, it falls short by not incorporating Autochartist tools.
In terms of ratings, BlackBull Markets edges ahead, with a research rating of 4 stars, compared to TMGM's 3.5 stars. This is reflected in their rankings on ForexBrokers.com, where BlackBull Markets holds the 18th spot out of 63, significantly higher than TMGM's 53rd place. Although both brokers have varied approaches to market research, BlackBull Markets' comprehensive tools and higher rating make it a slightly more favorable choice for traders seeking extensive research capabilities.
| Feature |
BlackBull Markets
|
TMGM
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | No | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | Yes |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
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
|
TMGM
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
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
|
TMGM
|
|---|---|---|
| Overall Rating |
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| Trust Score | 78 | 83 |
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Both BlackBull Markets and TMGM do not offer the ability to purchase actual delivered cryptocurrency, but they do provide options to trade cryptocurrency derivatives.
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.
Please note:
We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.
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0 of 5| Overall Rating | BlackBull Markets | TMGM | |
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| Trust Score | 78 | 83 | |
| Winner | check_circle | ||
| Review | BlackBull Markets Review | TMGM Review |
| Broker Screenshots | BlackBull Markets | TMGM | |
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| Regulation | BlackBull Markets | TMGM | |
|---|---|---|---|
| Trust Score | 78 | 83 | |
| Year Founded | 2014 | 2013 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | No | |
| Tier-1 Licenses | 1 | 2 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 2 |
| Tier-1 Licenses (Highly Trusted) | BlackBull Markets | TMGM | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | Yes | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | No | No | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | Yes | Yes | |
| Regulated in one or more EU or EEA countries (MiFID). | No | No |
| Tier-2 Licenses (Trusted) | BlackBull Markets | TMGM | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | BlackBull Markets | TMGM | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 26000 | 12000 | |
| Forex Pairs (Total) | 72 | 62 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | 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 | 0.71 | N/A | |
| All-in Cost EUR/USD - Active | 0.71 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | No | Yes | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | BlackBull Markets | TMGM | |
|---|---|---|---|
| Minimum Deposit | $0 | $100 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | BlackBull Markets | TMGM | |
|---|---|---|---|
| Proprietary Platform | No | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | Yes | No | |
| DupliTrade | No | No | |
| ZuluTrade | Yes | No |
| Trading Tools | BlackBull Markets | TMGM | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 6 | 7 | |
| Charting - Indicators / Studies (Total) | 109 | 30 | |
| Charting - Drawing Tools (Total) | 60 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | BlackBull Markets | TMGM | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 30 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | BlackBull Markets | TMGM | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | No | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | BlackBull Markets | TMGM | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | BlackBull Markets | TMGM | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| Review | BlackBull Markets Review | TMGM Review |
| Overall | BlackBull Markets | TMGM | |
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| Trust Score | 78 | 83 | |
| Winner | check_circle | ||
| Review | BlackBull Markets Review | TMGM Review |
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