Written by ForexBrokers.com
In this head to head comparison of FinecoBank 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.
FinecoBank and TMGM are two online brokers that offer various services to traders, but there are several key differences between them. Founded in 1999, FinecoBank is a publicly traded company and operates as a bank, which often adds an extra layer of security for its clients. It holds two Tier-1 licenses, earning it a high Trust Score of 94 out of 99 by ForexBrokers.com, indicating that it is considered highly trusted. Meanwhile, TMGM, established in 2013, is not a bank nor publicly traded but also maintains two Tier-1 licenses. TMGM has earned a Trust Score of 83, which places it in the trusted category.
Both FinecoBank and TMGM lack Tier-2 licenses, but their respective Trust Scores reflect distinct levels of confidence among traders and regulators. FinecoBank's structure as a bank and its listing on a stock exchange might provide an added sense of security for investors seeking a highly reliable trading partner. On the other hand, TMGM's offerings might appeal to traders who are satisfied with a trusted and reliable broker that is not publicly traded. Each broker offers its own set of strengths based on their regulatory frameworks and company profiles, catering to different trader preferences and risk appetites.
| Feature |
FinecoBank
|
TMGM
|
|---|---|---|
| Year Founded | 1999 | 2013 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 2 | 2 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 2 |
When considering commissions and fees, FinecoBank and TMGM offer distinct choices with unique features. FinecoBank's trading costs are somewhat ambiguous due to the absence of published average spread data for forex and CFD trading. While FinecoBank lists a 1 pip spread for the EUR/USD, this rate is on the higher end compared to other brokers. Additionally, though a 0.8 pips spread is mentioned, neither spread is confirmed as an average figure, and no specific date range is provided. For those interested in index CFDs, FinecoBank may offer more appealing lower spreads. With these factors in mind, FinecoBank has been rated 3.5 stars for commissions and fees, ranking at #51 out of 63 brokers by ForexBrokers.com.
On the other hand, TMGM provides a more transparent approach with competitive commissions, especially for its Edge account, known for low spreads and the absence of requotes. However, like FinecoBank, TMGM does not offer recent average spread data for the EUR/USD. TMGM’s pricing structure varies between its spread-only Classic account and the commission-based Edge account, with the latter charging a reasonable $3.50 per side ($7 per round trip) alongside low spreads. This makes the Edge account a favorable option for those focused on minimizing costs. Islamic finance clients can also find a fit with TMGM, as the Edge account supports Sharia-compliant trading, unlike the Classic account. TMGM is rated 4 stars for its commissions and fees, and it holds a higher position, ranking #36 out of 63 brokers as per ForexBrokers.com.
| Feature |
FinecoBank
|
TMGM
|
|---|---|---|
| Minimum Deposit | $0 | $100 |
| Average Spread EUR/USD - Standard | N/A | N/A |
| All-in Cost EUR/USD - Active | N/A | N/A |
| Active Trader or VIP Discounts | No | No |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
FinecoBank and TMGM offer comprehensive investment options but cater to different types of traders. Both platforms provide forex trading through CFDs or spot contracts. FinecoBank offers 9,770 tradeable symbols, slightly fewer than TMGM's 12,000 symbols. In terms of forex pairs, FinecoBank offers 54, while TMGM provides a slightly higher number at 62. Notably, FinecoBank grants access to exchange-traded securities on U.S. and international exchanges, allowing investors to purchase shares from companies like Apple and Vodafone, an option TMGM doesn't offer. On the other hand, TMGM supports copy trading, appealing to traders looking to mirror successful strategies, whereas FinecoBank does not have this feature.
When it comes to cryptocurrency offerings, both FinecoBank and TMGM don't provide the option to buy actual cryptocurrency. However, TMGM stands out by offering the ability to trade cryptocurrency derivatives. Both brokers are highly rated in the Range of Investments category, each receiving 4.5 stars. According to ForexBrokers.com, FinecoBank ranks slightly higher at #16 compared to TMGM's #17 out of 63 brokers surveyed, reflecting their competitive yet slightly different approaches to serving investors' diverse needs.
| Feature |
FinecoBank
|
TMGM
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 9770 | 12000 |
| Forex Pairs (Total) | 54 | 62 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | No | Yes |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | No | 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.
When comparing the trading platforms and tools of FinecoBank and TMGM, each has its own set of offerings that cater to different types of traders. TMGM supports simulated trading with a free virtual demo account, allowing beginners to practice without risk. FinecoBank, however, lacks this feature. FinecoBank stands out with its proprietary platform, while TMGM operates on popular third-party platforms like MetaTrader 4 and MetaTrader 5, appealing to seasoned traders familiar with these interfaces. Both offer Windows-based desktop platforms and web-based options, providing flexibility for users who prefer trading on different devices.
TMGM shines with its extensive charting tools, offering 15 drawing tools compared to FinecoBank's 7, and provides the convenience of trading directly from stock charts. TMGM also supports copy trading, which FinecoBank does not. While TMGM includes seven watchlist columns for personalized tracking, this feature is not speculated for FinecoBank. Despite TMGM’s broader toolset, both brokers receive an equal rating of 4 out of 5 stars for trading platforms and tools, though FinecoBank is ranked higher at 18th compared to TMGM’s 48th by ForexBrokers.com.
| Feature |
FinecoBank
|
TMGM
|
|---|---|---|
| Virtual Trading (Demo) | No | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 37 | 30 |
| Charting - Drawing Tools (Total) | 7 | 15 |
| Charting - Trade From Chart | No | Yes |
| Watchlists - Total Fields | N/A | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
FinecoBank and TMGM both offer mobile trading apps for iPhone and Android, supporting traders on the go. Each platform allows users to set price alerts for stocks and forex, but neither enables watchlist symbol syncing with their online accounts. In terms of technical analysis, FinecoBank provides six technical studies for charting, while TMGM offers a more comprehensive suite with 30 studies and the ability to draw trendlines. Both platforms support viewing multiple time frames on charts. However, TMGM’s app stands out with auto-saving of drawn chart annotations and the capability to create real-time watchlists, which FinecoBank’s app does not offer.
When it comes to user ratings, both apps achieve a respectable four out of five stars for their mobile trading experience. FinecoBank ranks higher at #42 compared to TMGM at #47 in ForexBrokers.com's list of 63 brokers. This places FinecoBank slightly ahead in overall user satisfaction, despite having fewer charting tools and watchlist capabilities. Whether you prioritize detailed charting features or overall app usability, both apps present solid options for mobile trading, despite their differences.
| Feature |
FinecoBank
|
TMGM
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 6 | 30 |
| Mobile Charting - Draw Trendlines | No | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | No | Yes |
| Mobile Watchlist | No | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing the market research offerings of FinecoBank and TMGM, both brokers provide a variety of resources for traders. FinecoBank delivers forex news from esteemed sources like Bloomberg and Reuters, along with an economic calendar showcasing global economic events. However, it lacks daily market commentary and tools like Autochartist and Trading Central. TMGM, on the other hand, also offers forex news from top-tier providers and includes daily market commentary. Additionally, TMGM provides access to sentiment tools and Trading Central analytics, despite not having Autochartist features or exclusive insights from TipRanks.
In terms of research tools, FinecoBank and TMGM both show certain strengths, but FinecoBank is rated slightly higher with 4.0 stars compared to TMGM’s 3.5 stars. This higher rating may reflect FinecoBank's strong standing in news distribution, though it ranks 33rd among 63 brokers for research, while TMGM ranks 53rd. Despite its lower star rating, TMGM offers a wider array of tools like those from Acuity Trading, appealing to traders interested in sentiment-based trading and additional analysis features.
| Feature |
FinecoBank
|
TMGM
|
|---|---|---|
| Daily Market Commentary | No | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | No | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | Yes |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, FinecoBank and TMGM each have unique offerings. FinecoBank excels with its educational webinars for clients, held monthly to assist novice traders in developing their skills. The broker complements this with more than ten educational videos specifically designed for beginners. Additionally, FinecoBank provides an investor dictionary, consisting of over 50 trading terms, making it easier for newcomers to grasp essential concepts. Despite these strengths, FinecoBank lacks an archive of recorded webinars and in-depth educational content on advanced trading topics. Hence, it's not surprising that FinecoBank earned a 4.0-star rating for its educational efforts and holds the 49th position among 63 brokers on ForexBrokers.com.
On the other hand, TMGM doesn't offer the same frequency of live educational webinars as FinecoBank but stands out with its archive of recorded sessions allowing users to access past educational content at their convenience. Yet, TMGM falls short in providing beginner-focused educational videos and lacks significant forex or CFD-specific educational materials. Like FinecoBank, TMGM offers a comprehensive investor dictionary. These factors contribute to TMGM receiving a slightly lower 3.5-star education rating and a ranking of 54 out of 63 brokers in the education category by ForexBrokers.com. Ultimately, those seeking ongoing live webinars may lean toward FinecoBank, while TMGM might appeal to those interested in recorded educational webinars.
| Feature |
FinecoBank
|
TMGM
|
|---|---|---|
| Education (Forex or CFDs) | No | No |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | No | Yes |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | No | 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 FinecoBank is better than TMGM. FinecoBank finished with an overall rank of #25, while TMGM finished with an overall rank of #37.
FinecoBank is a trusted multi-asset broker offering forex and CFDs across its brands regulated in the U.K. and Italy. However, unless you visit a physical branch as a citizen of the EU – or you are a resident of Italy or the U.K. – you will not be permitted to open an online account with FinecoBank.
| Feature |
FinecoBank
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TMGM
|
|---|---|---|
| Overall Rating |
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| Trust Score | 94 | 83 |
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While both FinecoBank and TMGM do not offer the option to buy actual delivered cryptocurrency, TMGM distinguishes itself by providing the ability to trade cryptocurrency derivatives, a service not available with FinecoBank.
FinecoBank supports ACH and SEPA transfers for depositing or withdrawing funds and permits bank wires, while TMGM does not support ACH or SEPA transfers but offers more diverse options like PayPal, Skrill, Visa, Mastercard, and bank wires, providing a broader range of deposit and withdrawal methods.
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 | FinecoBank | TMGM | |
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| Trust Score | 94 | 83 | |
| Winner | check_circle | ||
| Review | FinecoBank Review | TMGM Review |
| Broker Screenshots | FinecoBank | TMGM | |
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| Regulation | FinecoBank | TMGM | |
|---|---|---|---|
| Trust Score | 94 | 83 | |
| Year Founded | 1999 | 2013 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 2 | 2 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 2 |
| Tier-1 Licenses (Highly Trusted) | FinecoBank | TMGM | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | 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) | Yes | No | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | Yes | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No |
| Tier-2 Licenses (Trusted) | FinecoBank | 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 | FinecoBank | TMGM | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 9770 | 12000 | |
| Forex Pairs (Total) | 54 | 62 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | No | Yes | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | No | 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 | FinecoBank | TMGM | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | N/A | N/A | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Active Trader or VIP Discounts | No | No | |
| Inactivity Fee | No | Yes | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | No | Yes |
| Funding | FinecoBank | TMGM | |
|---|---|---|---|
| Minimum Deposit | $0 | $100 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | FinecoBank | TMGM | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | FinecoBank | TMGM | |
|---|---|---|---|
| Virtual Trading (Demo) | No | Yes | |
| Alerts - Basic Fields | No | Yes | |
| Watchlists - Total Fields | N/A | 7 | |
| Charting - Indicators / Studies (Total) | 37 | 30 | |
| Charting - Drawing Tools (Total) | 7 | 15 | |
| Charting - Trade From Chart | No | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | FinecoBank | TMGM | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | No | Yes | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 6 | 30 | |
| Mobile Charting - Draw Trendlines | No | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | No | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | FinecoBank | TMGM | |
|---|---|---|---|
| Daily Market Commentary | No | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | Yes | |
| Economic Calendar | Yes | Yes |
| Education | FinecoBank | TMGM | |
|---|---|---|---|
| Education (Forex or CFDs) | No | No | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | No | Yes | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | No | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | FinecoBank | 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 | FinecoBank Review | TMGM Review |
| Overall | FinecoBank | TMGM | |
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| Trust Score | 94 | 83 | |
| Winner | check_circle | ||
| Review | FinecoBank Review | TMGM Review |
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