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FinecoBank vs TMGM 2024

ForexBrokers.com

Written by ForexBrokers.com

August 29, 2023

Is FinecoBank better than TMGM? In our analysis of 23 international regulators across 62 of the best forex brokers, Fineco Bank is considered Highly Trusted, with an overall Trust Score of 95 out of 99. TMGM is considered Trusted, with an overall Trust Score of 83 out of 99. Learn more about Trust Score.

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Compare

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Overall Rating FinecoBank TMGM
Overall Rating info 4.5/5 Stars 4/5 Stars
Commissions & Fees 3.5/5 Stars 4/5 Stars
Offering of Investments 4.5/5 Stars 4.5/5 Stars
Platform & Tools 4/5 Stars 4/5 Stars
Mobile Trading 4/5 Stars 4/5 Stars
Research 4/5 Stars 3.5/5 Stars
Education 3.5/5 Stars 3.5/5 Stars
Trust Score info 94 83
Winner check_circle
Review FinecoBank Review TMGM Review
Broker Screenshots FinecoBank TMGM
Trading Platforms Gallery (click to expand) info
Mobile Trading Gallery (click to expand) info
Research Gallery (click to expand) info
Education Gallery (click to expand) info
Regulation FinecoBank TMGM
Trust Score info 94 83
Year Founded info 1999 2013
Publicly Traded (Listed) info Yes No
Bank info Yes No
Regulated in one or more EU or EEA countries (MiFID). info Yes info No info
Tier-1 Licenses info 2 2
Tier-2 Licenses info 0 0
Tier-3 Licenses info 0 0
Tier-4 Licenses info 0 2
Tier-1 Licenses (Highly Trusted) FinecoBank TMGM
Australia (ASIC Authorised) info Yes 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 No No
United Kingdom (U.K.) (FCA Authorised) info Yes No
USA (CFTC Authorized) info No No
New Zealand (FMA Authorised) info No Yes
Regulated in one or more EU or EEA countries (MiFID). info Yes info No info
Tier-2 Licenses (Trusted) FinecoBank TMGM
Kenya (CMA Authorised) info No No
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 No No
Investments FinecoBank TMGM
Forex Trading (Spot or CFDs) info Yes Yes
Tradeable Symbols (Total) info 9770 12000
Forex Pairs (Total) info 54 62
U.S. Stock Trading (Non CFD) info Yes No
Int'l Stock Trading (Non CFD) info Yes No
Social Trading / Copy Trading info No Yes
Cryptocurrency (Physical) info No No
Cryptocurrency (Derivative) info 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 info N/A info N/A info
All-in Cost EUR/USD - Active info N/A info N/A info
Active Trader or VIP Discounts info No No
Inactivity Fee info No Yes
Execution: Agency Broker info No Yes
Execution: Market Maker info No Yes
Funding FinecoBank TMGM
Minimum Deposit info $0 $100
PayPal (Deposit/Withdraw) info No Yes
Skrill (Deposit/Withdraw) info No Yes
Visa/Mastercard (Credit/Debit) info No Yes
Bank Wire (Deposit/Withdraw) info Yes Yes
ACH or SEPA Transfers info Yes No
Trading Platforms FinecoBank TMGM
Proprietary Platform info Yes No
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
Social Trading / Copy Trading info No Yes
MetaTrader 4 (MT4) info No Yes
MetaTrader 5 (MT5) info No Yes
cTrader info No No
DupliTrade info No No
ZuluTrade info No No
Trading Tools FinecoBank TMGM
Virtual Trading (Demo) info No Yes
Alerts - Basic Fields info No Yes
Watchlists - Total Fields info N/A 7
Charting - Indicators / Studies (Total) info 37 30
Charting - Drawing Tools (Total) info 7 15
Charting - Trade From Chart info No Yes
Charts can be saved info Yes Yes
Mobile Trading FinecoBank TMGM
Android App info Yes Yes
Apple iOS App info Yes Yes
Mobile Alerts - Basic Fields info Yes Yes
Mobile Watchlist info No Yes
Watchlist Syncing info No No
Mobile Charting - Indicators / Studies info 6 30
Mobile Charting - Draw Trendlines info No Yes
Mobile Charting - Multiple Time Frames info Yes Yes
Mobile Charting - Drawings Autosave info No Yes
Mobile Economic Calendar info Yes Yes
Research FinecoBank TMGM
Daily Market Commentary info No Yes
Forex News (Top-Tier Sources) info Yes Yes
Autochartist info No No
Trading Central (Recognia) info No Yes
TipRanks info No No
Social Sentiment - Currency Pairs info No Yes
Economic Calendar info Yes Yes
Education FinecoBank TMGM
Education (Forex or CFDs) info No No
Client Webinars info Yes No
Client Webinars (Archived) info No Yes
Videos - Beginner Trading Videos info Yes No
Videos - Advanced Trading Videos info No No
Investor Dictionary (Glossary) info Yes Yes
Major Forex Pairs FinecoBank 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 FinecoBank Review TMGM Review
Overall FinecoBank TMGM
Overall Rating info 4.5/5 Stars 4/5 Stars
Commissions & Fees 3.5/5 Stars 4/5 Stars
Offering of Investments 4.5/5 Stars 4.5/5 Stars
Platform & Tools 4/5 Stars 4/5 Stars
Mobile Trading 4/5 Stars 4/5 Stars
Research 4/5 Stars 3.5/5 Stars
Education 3.5/5 Stars 3.5/5 Stars
Trust Score info 94 83
Winner check_circle
Review FinecoBank Review TMGM Review
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FinecoBank vs TMGM Comparison

We’ve made it easy to compare the best forex brokers, side-by-side. Our editorial team has collected thousands of data points, written hundreds of thousands of words of research, and tested over 60 brokers to help you find the best forex brokers in the industry. Our research is unbiased and independent; learn more about how we test. That same research and data powers our broker comparisons. Let's compare FinecoBank vs TMGM.

Can I trust FinecoBank?

Fineco Bank is publicly traded and does operate a bank. Fineco Bank is authorised by three Tier-1 regulators (Highly Trusted), zero Tier-2 regulators (Trusted), zero Tier-3 regulators (Average Risk), and zero Tier-4 regulators (High Risk). Fineco Bank is authorised by the following Tier-1 regulators: Australian Securities & Investment Commission (ASIC), Financial Conduct Authority (FCA), and regulated in the European Union via the MiFID passporting system.

Can I trust TMGM?

TMGM is not publicly traded and does not operate a bank. TMGM is authorised by two Tier-1 regulators (Highly Trusted), zero Tier-2 regulators (Trusted), zero Tier-3 regulator (Average Risk), and two Tier-4 regulators (High Risk). TMGM is authorised by the following Tier-1 regulators: the Australian Securities & Investment Commission (ASIC) and the Financial Markets Authority (FMA).

Is FinecoBank good?

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.

Is TMGM good?

TMGM stands out for its impressive education toolset, though it still trails behind the best brokers in most categories. TMGM offers a small range of markets via the MetaTrader 4 (MT4) platform. While primarily a MetaTrader broker, it also offers the more exclusive IRESS platform – though the platform-specific requirements will limit who can use it.

What is the minimum deposit requirement for opening an account with FinecoBank?

To open a trading account with FinecoBank, you'll need to make an initial minimum deposit of $0.

What is the minimum deposit requirement for opening an account with TMGM?

TMGM requires a minimum deposit of $100 before you can open an account and start trading.

What funding options does each broker offer?

It's important to make sure that your forex broker accepts the funding options and deposit methods that work best for you. FinecoBank offers Bank Wire (Deposit/Withdraw) for banking, whereas TMGM provides Visa/Mastercard (Credit/Debit), Bank Wire (Deposit/Withdraw), PayPal (Deposit/Withdraw), Skrill (Deposit/Withdraw) and Neteller (Deposit/Withdraw).

Does FinecoBank or TMGM offer lower pricing?

Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spread data, and pricing structures vary. Based on our thorough, data-driven testing of each broker's commissions and fees, we found that TMGM offers better pricing overall for traders.

Methodology: When testing each broker's commissions, fees, and pricing, we analyze multiple trade scenarios and award points based on the expansiveness (or inexpensiveness) of the broker's spreads. We then run multiple scenarios for different investor types, incorporating any miscellaneous fees, to determine an "all-in" cost per trade. Learn more about how we test.

Is FinecoBank or TMGM safer for forex and CFDs trading?

At ForexBrokers.com, we track over 110 international regulatory agencies and sort them by tiers (Tier-1, Tier-2, Tier-3, Tier-4, and Tier-5) to help you choose well-regulated, highly trusted forex brokers. Learn more about our proprietary Trust Score rating system. Based on our research on the regulatory status of over 60 brokers, we've found that Both FinecoBank and TMGM hold 2 global Tier-1 licenses. Both FinecoBank and TMGM hold 0 global Tier-2 licenses.

After evaluating each broker based on their number of held licenses, years in business, and a range of other data-driven variables, we've determined that FinecoBank (94) earned a higher Trust Score than TMGM (83).

Which trading platform is better: FinecoBank or TMGM?

To compare the trading platforms of both FinecoBank and TMGM, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, FinecoBank offers a better experience. With research, FinecoBank offers superior market research. Finally, we found FinecoBank to provide better mobile trading apps.

Here’s what trading platforms are available at FinecoBank:

  • Proprietary Platform - Yes
  • Web Platform - Yes
  • cTrader - No
  • DupliTrade - No
  • MT4 - No
  • MT5 - No
  • ZuluTrade - No
  • TradingView - No

Here’s what trading platforms are available at TMGM:

  • Proprietary Platform - No
  • Web Platform - Yes
  • cTrader - No
  • DupliTrade - No
  • MT4 - Yes
  • MT5 - Yes
  • ZuluTrade - No
  • TradingView - No

What about MetaTrader? How about copy trading?

The MetaTrader trading platform suite is wildly popular among forex and CFD traders across the globe. TMGM offers MetaTrader 4 (MT4), while FinecoBank does not. Forex traders also appreciate the ability to engage in social copy trading. While TMGM offers copy trading, FinecoBank does not.

What can I trade with each broker?

TMGM provides traders 62 currency pairs (e.g., EUR/USD) compared to FinecoBank's 54 available pairs. If you are interested in trading a full range of securities, TMGM offers traders access to 12000 tradeable symbols, while FinecoBank offers access to 9770 tradeable symbols; so TMGM offers 2230 more tradeable symbols than FinecoBank.

We found in our testing that FinecoBank offers a more diverse selection of investment options than TMGM, allowing you to trade Forex Trading (Spot or CFDs), U.S. Stocks (CFD) and Int'l Stock Trading (Non CFD). Neither have Cryptocurrency (Physical) and Spread Betting.

Overall winner: FinecoBank

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announcementPlease 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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