BlackBull Markets vs TMGM 2025

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	TMGM
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	TMGM
Minimum Deposit info	$0	$100
Average spread (EUR/USD) - Standard account info	0.71 info	N/A info
All-in Cost EUR/USD - Active info	0.71 info	N/A info
Non-wire bank transfer info	No	No
PayPal (Deposit/Withdraw) info	No
Skrill (Deposit/Withdraw) info	Yes
Bank Wire (Deposit/Withdraw) info	Yes

Dive deeper: Best Low Spread Forex Brokers.

Range of investments

BlackBull Markets and TMGM both support forex trading as CFDs or spot contracts, offer crypto CFDs, and include copy trading. Neither broker lets you buy actual (delivered) cryptocurrency. A key difference: BlackBull Markets also provides exchange-traded shares (not CFDs) on both U.S. and international exchanges—so you can buy real stocks like Apple and Vodafone—while TMGM does not offer exchange-traded shares.

For overall choice, BlackBull Markets lists about 26,000 tradeable symbols and 72 forex pairs, compared with TMGM’s 12,000 symbols and 62 pairs. Reflecting that breadth, BlackBull Markets is rated 5 stars for Range of Investments and ranks #6 out of 63 brokers, while TMGM earns 4.5 stars and ranks #18. In short, BlackBull Markets delivers a wider lineup, and TMGM still provides a sizeable selection.

Feature	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. Stocks (Shares) info	Yes	No
Global Stocks (Non-U.S. Shares) info	Yes	No
Copy Trading info	Yes	Yes
Cryptocurrency (Underlying) info	No	No
Cryptocurrency (CFDs) 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 are closely matched on trading platforms and tools. Both offer free demo (paper) accounts, Windows desktop platforms, and web-based platforms, with no proprietary software. Each broker supports MetaTrader 4 (MT4) and MetaTrader 5 (MT5), enables copy trading, and lets you place trades directly from charts. Charting tools and watchlist options are available within MT4/MT5, with features that can vary by platform version and add-ons.

For quality and features, both earn 4 stars for Trading Platforms and Tools. In ForexBrokers.com’s rankings out of 63 brokers, BlackBull Markets sits at #31 while TMGM is #49, giving BlackBull a slight edge in this category. If you want similar platform choices with a marginally higher third‑party ranking, consider BlackBull Markets; otherwise, TMGM provides a comparable MetaTrader-focused experience.

Feature	BlackBull Markets	TMGM
Virtual Trading (Demo) info	Yes	Yes
Proprietary Desktop Trading Platform info	No	No
Desktop Platform (Windows) info	Yes	Yes
Web Platform info	Yes	Yes
Copy Trading info	Yes	Yes
MetaTrader 4 (MT4) info	Yes	Yes
MetaTrader 5 (MT5) info	Yes	Yes
Charting - Indicators / Studies (Total) info	109	30
Charting - Trade From Chart info	Yes	Yes

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

Forex trading apps

BlackBull Markets and TMGM both check the core boxes for mobile trading. Each broker offers an iPhone app and an Android app, plus price alerts for stocks or forex. Their charting tools are comparable, with 30 technical studies available on mobile, the ability to draw trendlines, and auto-saving of chart drawings to keep your annotations in place.

Key differences show up in watchlist management and industry rankings. BlackBull Markets syncs watchlists between the mobile app and your online account, while TMGM does not. Both earn 4 out of 5 stars for Mobile Trading Apps, yet ForexBrokers.com ranks BlackBull Markets higher (#33 of 63) than TMGM (#48 of 63). If watchlist syncing matters to you, BlackBull Markets has the edge; if not, both apps deliver similar charting and alert features.

Feature	BlackBull Markets	TMGM
Android App info	Yes	Yes
Apple iOS App info	Yes	Yes
Mobile Price Alerts info	Yes	Yes
Mobile Watchlists - Syncing info	Yes	No
Mobile Charting - Indicators / Studies info	30	30
Mobile Charting - Draw Trendlines info	Yes	Yes
Mobile Charting - Trendlines Autosave 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	TMGM
Daily Market Commentary (Articles) info	Yes	Yes
Forex News (Top-Tier Sources) info	No	Yes
Autochartist info	Yes	No
Trading Central info	No	Yes
Client sentiment data info	Yes	Yes
TipRanks info	No	No
Acuity Trading info	No	Yes
Economic Calendar info	Yes	Yes

Dive deeper: Best Brokers for Forex Research.

Beginners and education

For beginners learning forex and CFD trading, BlackBull Markets offers a clearer path. It runs educational client webinars at least once a month and provides at least 10 beginner-focused trading videos, plus at least 10 advanced videos when you’re ready to level up. TMGM, by comparison, does not host monthly educational webinars and doesn’t meet the 10-video threshold for beginner or advanced topics, so its video and live-session options are more limited for new traders.

Independent ratings support this difference: BlackBull Markets earns 4 out of 5 stars for Education and ranks 29th out of 63 brokers on ForexBrokers.com, while TMGM scores 3.5 out of 5 stars and ranks 54th. If you want frequent webinars and a larger video library to learn step by step, BlackBull Markets has the edge; if you only need lighter materials, TMGM may be enough, but expect fewer structured resources for beginners.

Feature	BlackBull Markets	TMGM
Webinars info	Yes	No
Videos - Beginner Trading Videos info	Yes	No
Videos - Advanced Trading Videos info	Yes	No

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	TMGM
Overall Rating info
Trust Score info	78	83
Range of Investments
Commissions & Fees
Platforms & Tools
Research
Mobile Trading
Education

FAQs

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Overall Rating	BlackBull Markets	TMGM
Overall Rating info
Commissions & Fees
Range of Investments
Platforms & Tools
Mobile Trading
Research
Education
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

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, FSRA, or SCA 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. Stocks (Shares) info	Yes	No
Global Stocks (Non-U.S. Shares) info	Yes	No
Copy Trading info	Yes	Yes
Cryptocurrency (Underlying) info	No	No
Cryptocurrency (CFDs) 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 account info	0.71 info	N/A info
All-in Cost EUR/USD - Active info	0.71 info	N/A info
Inactivity Fee info	No	Yes
Order execution: Agency info	No	Yes
Order execution: Market Maker info	Yes	Yes

Funding	BlackBull Markets	TMGM
Minimum Deposit info	$0	$100
PayPal (Deposit/Withdraw) info	No
Skrill (Deposit/Withdraw) info	Yes
Bank Wire (Deposit/Withdraw) info	Yes
Non-wire bank transfer info	No	No

Trading Platforms	BlackBull Markets	TMGM
Proprietary Desktop Trading Platform info	No	No
Desktop Platform (Windows) info	Yes	Yes
Web Platform info	Yes	Yes
Copy Trading info	Yes	Yes
MetaTrader 4 (MT4) info	Yes	Yes
MetaTrader 5 (MT5) info	Yes	Yes
cTrader info	Yes	No

Trading Tools	BlackBull Markets	TMGM
Virtual Trading (Demo) info	Yes	Yes
Price Alerts info	Yes	Yes
Charting - Indicators / Studies (Total) info	109	30
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 Price Alerts info	Yes	Yes
Mobile Watchlist [DELETED] info
Mobile Watchlists - Syncing info	Yes	No
Mobile Charting - Indicators / Studies info	30	30
Mobile Charting - Draw Trendlines info	Yes	Yes
Mobile Charting - Trendlines Autosave info	Yes	Yes
Mobile Research - Economic Calendar info	Yes	Yes

Research	BlackBull Markets	TMGM
Daily Market Commentary (Articles) info	Yes	Yes
Forex News (Top-Tier Sources) info	No	Yes
Autochartist info	Yes	No
Trading Central info	No	Yes
TipRanks info	No	No
Client sentiment data info	Yes	Yes
Economic Calendar info	Yes	Yes

Education	BlackBull Markets	TMGM
Webinars info	Yes	No
Videos - Beginner Trading Videos info	Yes	No
Videos - Advanced Trading Videos info	Yes	No

Major Forex Pairs	BlackBull Markets	TMGM
GBP/USD [DELETED] info
USD/JPY [DELETED] info
EUR/USD info	Yes	Yes
USD/CHF [DELETED] info
USD/CAD [DELETED] info
NZD/USD [DELETED] info
AUD/USD [DELETED] info
Review	BlackBull Markets Review	TMGM Review

Overall	BlackBull Markets	TMGM
Overall Rating info
Commissions & Fees
Range of Investments
Platforms & Tools
Mobile Trading
Research
Education
Trust Score info	78	83
Winner	check_circle
Review	BlackBull Markets Review	TMGM Review