Written by ForexBrokers.com
In this head to head comparison of FOREX.com 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.
FOREX.com, established in 1999, is a publicly traded company that holds an impressive seven Tier-1 licenses and one Tier-2 license. This extensive regulatory approval reflects its top-tier trustworthiness, earning FOREX.com the highest possible Trust Score of 99 from ForexBrokers.com. This high rating indicates that FOREX.com is considered highly trusted within the industry, providing a secure environment for trading activities.
On the other hand, TMGM, which began operations in 2013, is a privately held broker. It holds two Tier-1 licenses, contributing to a ForexBrokers.com Trust Score of 83. Although not as high as FOREX.com, TMGM still ranks as a trusted broker. Both brokers are not banks, providing their customers with alternative trading options outside traditional banking structures.
| Feature |
FOREX.com
|
TMGM
|
|---|---|---|
| Year Founded | 1999 | 2013 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 7 | 2 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 2 |
When comparing commissions and fees, FOREX.com offers multiple account types with varying fee structures, which can make it a flexible choice for different traders. However, it tends to be slightly pricier than the industry average. In the U.S., the Standard account is the only option for MetaTrader users and comes with higher spreads averaging 1.4 for the EUR/USD, which may appeal to those preferring market-maker execution. The RAW Spread account offers lower spreads with added commissions that remain competitive, especially for high-volume traders benefiting from volume-based rebates. FOREX.com earns a 4.5-star rating for commissions and fees and ranks 13th out of 63 brokers by ForexBrokers.com.
TMGM's Edge account offers an attractive package with competitive commission rates and low spreads, although recent average spread data for the EUR/USD was not readily available. The Edge account charges a small commission of $3.50 per side, making it a favorable choice for traders focused on minimizing costs. The Classic account, being spread-only, may appeal to traders who prefer not to pay commissions. TMGM provides Sharia-compliant options through the Edge account for Islamic finance clients. It receives a 4-star rating for commissions and fees, and it ranks 36th among 63 brokers by ForexBrokers.com.
Both brokers have distinct strengths, with FOREX.com featuring a more robust suite of advanced trading platforms and competitive spreads for high-volume traders, while TMGM offers straightforward commission structures and competitive costs through its Edge account. The choice between the two will ultimately depend on a trader's specific needs and preferences, such as account type and execution style.
| Feature |
FOREX.com
|
TMGM
|
|---|---|---|
| Minimum Deposit | $100 | $100 |
| Average Spread EUR/USD - Standard | 1.4 | N/A |
| All-in Cost EUR/USD - Active | 0.9 | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
FOREX.com and TMGM both offer forex trading options as either CFDs or spot contracts. When it comes to the variety of tradeable symbols, TMGM leads with a selection of 12,000 compared to FOREX.com's 5,500. However, in terms of available forex pairs, FOREX.com has a slight edge with 80 pairs available versus TMGM's 62. Neither platform offers direct access to exchange-traded securities on U.S. or international exchanges, and both provide cryptocurrency derivatives, though not the actual cryptocurrencies themselves.
Despite their similarities, there are some notable differences. TMGM offers the added feature of copy trading, which is not available on FOREX.com. In terms of ratings, FOREX.com receives a perfect 5-star rating for its range of investments, ranking 7th out of 63 brokers on ForexBrokers.com. Meanwhile, TMGM is rated 4.5 stars and ranks 17th in the same category. This makes FOREX.com a slightly stronger choice for those prioritizing a diverse range of investment options.
| Feature |
FOREX.com
|
TMGM
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 5500 | 12000 |
| Forex Pairs (Total) | 80 | 62 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | No |
| Social Trading / Copy Trading | No | 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.
When comparing online brokers FOREX.com and TMGM for their trading platforms and tools, several key differences emerge. Both brokers provide simulated or paper trading options through free virtual demo accounts, making it easy for users to practice without financial risk. FOREX.com offers a proprietary platform developed in-house, in addition to supporting a Windows-based desktop platform, a web-based platform, MetaTrader 4, and MetaTrader 5. In contrast, TMGM does not have its own proprietary platform but also supports Windows, web-based trading, and both MetaTrader 4 and 5. TMGM, however, enables copy trading, a feature not available with FOREX.com.
Both brokers allow trading directly from stock charts, but differ in the range of charting tools offered. FOREX.com provides an impressive array of 239 drawing tools, significantly more than TMGM's 15. For watch lists, FOREX.com offers 20 fields for customization, compared to TMGM's 7. These differences are reflected in ratings: FOREX.com is awarded 5 stars for its trading platforms and tools, ranking #7 out of 63 brokers by ForexBrokers.com, whereas TMGM receives 4 stars, ranking #48. These distinctions highlight how FOREX.com may cater more to those seeking extensive tools and features, while TMGM appeals to those interested in copy trading capabilities.
| Feature |
FOREX.com
|
TMGM
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 88 | 30 |
| Charting - Drawing Tools (Total) | 239 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 20 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both FOREX.com and TMGM provide mobile trading apps for iPhone and Android users, making trading accessible on the go. Both apps send alerts for stock and forex prices and allow drawing trendlines and viewing different timeframes on charts. They also enable users to create watchlists with real-time quotes. However, when it comes to syncing capabilities, FOREX.com takes the lead with its watchlist symbol syncing feature, which keeps the mobile app and online account in harmony. In contrast, TMGM lacks this feature. Additionally, FOREX.com offers a more extensive range of 88 technical studies for charting, whereas TMGM provides 30.
When considering the user experience, FOREX.com’s mobile app has achieved a 5-star rating, ranked #3 out of 63 brokers in the Mobile Trading Apps category by ForexBrokers.com. Meanwhile, TMGM holds a 4-star rating, placing at #47. This reflects FOREX.com’s priority towards offering a more comprehensive and streamlined app experience. Trading enthusiasts might find FOREX.com’s feature-rich app more appealing, especially those who value watchlist synchronization and a broader suite of technical studies.
| Feature |
FOREX.com
|
TMGM
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 88 | 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 FOREX.com and TMGM for market research tools and capabilities, both brokers offer daily market commentary and access to forex news from top-tier sources like Bloomberg, Reuters, and Dow Jones. They also provide insights through Trading Central tools and sentiment-based trading features that highlight the ratio of long and short positions across multiple instruments. However, when it comes to additional research tools, TMGM stands out with its offering from Acuity Trading, such as the Signal Centre, an option not available with FOREX.com. Both platforms include economic calendars to keep traders informed of upcoming global news events, ensuring that users stay updated on market trends.
In terms of performance ratings, FOREX.com receives a commendable 4.5 out of 5 stars for research, ranking 9th among 63 brokers according to ForexBrokers.com. In contrast, TMGM holds a lower research rating of 3.5 stars, positioning it at 53rd in the same research category rankings. This difference highlights FOREX.com's advanced capabilities and resources in providing comprehensive market research compared to TMGM. While both brokers offer strong basic research features, FOREX.com excels in delivering a higher quality research experience overall.
| Feature |
FOREX.com
|
TMGM
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | Yes | 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.
When comparing the educational resources available for beginners from FOREX.com and TMGM, there are notable differences. FOREX.com excels in providing comprehensive educational content, offering more than 10 pieces ranging from articles and videos to archived webinars focused on forex and CFDs. They further support novice traders with monthly online webinars and a large library of recorded sessions for continued learning. On top of that, FOREX.com delivers over 10 beginner-focused educational videos on trading topics, alongside advanced resources for more experienced traders. In contrast, TMGM does not provide the same level of content or frequency in educational materials for novices, lacking regular webinars and a substantial beginner video library. However, both brokers do offer a searchable archive of past webinars and a glossary with over 50 investing terms.
From an overall rating perspective, FOREX.com scores a commendable 4.5 out of 5 stars in the Education category, ranking it 4th among 63 brokers according to ForexBrokers.com. TMGM, however, is rated lower, with 3.5 stars and a 54th place ranking. These ratings reflect the extensive educational resources provided by FOREX.com, making it a more appealing choice for beginners seeking comprehensive learning support as they start their trading journey. Meanwhile, although TMGM offers some educational materials, it doesn't match the depth and breadth found at FOREX.com.
| Feature |
FOREX.com
|
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 FOREX.com is better than TMGM. FOREX.com finished with an overall rank of #5, while TMGM finished with an overall rank of #37.
FOREX.com is a trusted brand that delivers an excellent trading experience for forex and CFDs traders across the globe. It offers a wide range of markets and provides an impressive suite of proprietary platforms – alongside limited access to MetaTrader.
| Feature |
FOREX.com
|
TMGM
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 83 |
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Both FOREX.com and TMGM do not offer the ability to buy actual (delivered) cryptocurrency, but they both provide the option to trade cryptocurrency derivatives.
In comparing online brokers FOREX.com and TMGM for deposit and withdrawal options, FOREX.com supports ACH or SEPA transfers, uses PayPal, Visa or Mastercard, and bank wires but does not offer Skrill, while TMGM does not provide ACH or SEPA transfers but accepts Skrill and shares the ability to transact via PayPal, Visa or Mastercard, and bank wires.
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 | FOREX.com | TMGM | |
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| Trust Score | 99 | 83 | |
| Winner | check_circle | ||
| Review | FOREX.com Review | TMGM Review |
| Broker Screenshots | FOREX.com | TMGM | |
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| Regulation | FOREX.com | TMGM | |
|---|---|---|---|
| Trust Score | 99 | 83 | |
| Year Founded | 1999 | 2013 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 7 | 2 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 2 |
| Tier-1 Licenses (Highly Trusted) | FOREX.com | TMGM | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | No | Yes | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No |
| Tier-2 Licenses (Trusted) | FOREX.com | TMGM | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | FOREX.com | TMGM | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 5500 | 12000 | |
| Forex Pairs (Total) | 80 | 62 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | No | |
| Social Trading / Copy Trading | No | 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 | FOREX.com | TMGM | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.4 | N/A | |
| All-in Cost EUR/USD - Active | 0.9 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | FOREX.com | TMGM | |
|---|---|---|---|
| Minimum Deposit | $100 | $100 | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | FOREX.com | TMGM | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | FOREX.com | TMGM | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 20 | 7 | |
| Charting - Indicators / Studies (Total) | 88 | 30 | |
| Charting - Drawing Tools (Total) | 239 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | FOREX.com | 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 | 88 | 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 | FOREX.com | TMGM | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | FOREX.com | 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 | FOREX.com | 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 | FOREX.com Review | TMGM Review |
| Overall | FOREX.com | TMGM | |
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| Trust Score | 99 | 83 | |
| Winner | check_circle | ||
| Review | FOREX.com Review | TMGM Review |
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