Written by ForexBrokers.com
In this head to head comparison of FP 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.
FP Markets and TMGM are noteworthy online brokers, each offering various features for online trading. FP Markets, established in 2005, and TMGM, founded in 2013, are both private firms, not publicly traded or affiliated with banking institutions. When it comes to regulatory compliance, FP Markets holds two Tier-1 licenses and one Tier-2 license, earning a Trust Score of 89 from ForexBrokers.com, which places it in the trusted category. On the other hand, TMGM is equipped with two Tier-1 licenses, receiving a Trust Score of 83, denoting it as a trusted broker as well. Both brokers effectively deliver trusted trading environments, with their regulatory licenses supporting client confidence.
While FP Markets and TMGM share similarities in their trust categories, they differ in their approach to licensing. FP Markets’ combination of Tier-1 and Tier-2 licenses may provide an added layer of trustworthiness. Such differences could be crucial for traders looking to choose between these brokers. However, both brokers manage to foster secure platforms acknowledged by their substantial trust ratings, indicating their competence in maintaining a reliable trading landscape. Given their favorable standing with ForexBrokers.com, both FP Markets and TMGM present viable options for traders seeking a regulation-focused broker.
| Feature |
FP Markets
|
TMGM
|
|---|---|---|
| Year Founded | 2005 | 2013 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 2 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 2 |
FP Markets stands out for low trading costs on its commission-based Raw ECN account, with average EUR/USD spreads of 0.1 pips (about 0.8 pips all-in after commission) and a $6 per standard-lot round turn on MetaTrader and cTrader. Its Standard account is spread-only and pricier, averaging 1.1 pips on EUR/USD. For share CFDs on Iress, pricing is DMA-style, but platform/data fees can apply unless you hold a Premier account or generate at least AUD 150 in monthly commissions. FP Markets earned Best in Class for Commissions and Fees in 2024, is rated 5/5 stars for costs, and ranks #6 out of 63 brokers for this category.
TMGM’s pricing depends on account choice: the Classic account is spread-only, while the Edge account adds a small commission of $3.50 per side ($7 round trip) alongside low prevailing spreads. Recent average spread data for EUR/USD was not published, which makes exact cost comparisons harder. Islamic (swap-free) accounts are available only on the Edge plan. TMGM is rated 4/5 stars for commissions and fees, and ranks #37 out of 63 brokers.
Bottom line: FP Markets publishes tight average spreads and offers a very competitive all-in cost on its Raw ECN account, while TMGM’s Edge account is appealing but less transparent due to limited average spread data. If minimizing known, all-in trading costs is your priority, FP Markets has the clearer edge, especially for forex on MetaTrader or cTrader; just note potential platform/data fees if you plan to trade share CFDs on Iress.
| Feature |
FP Markets
|
TMGM
|
|---|---|---|
| Minimum Deposit | $100 AUD | $100 |
| Average spread (EUR/USD) - Standard account | 1.2 | N/A |
| All-in Cost EUR/USD - Active | 0.7 | N/A |
| Non-wire bank transfer | No | No |
| PayPal (Deposit/Withdraw) | Yes | |
| Skrill (Deposit/Withdraw) | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes |
Dive deeper: Best Low Spread Forex Brokers.
FP Markets and TMGM both support forex trading (CFDs/spot) and offer wide instrument lineups. TMGM lists about 12,000 tradeable symbols versus roughly 10,000 at FP Markets, so it’s the broader choice overall. That said, FP Markets provides more currency pairs (71 vs. 62). Neither broker offers direct share dealing on U.S. or international exchanges—equities access is via derivatives rather than buying actual shares.
Both brokers include copy trading and let you trade cryptocurrency via CFDs, but neither lets you buy actual crypto. Each earns a 4.5/5 score for Range of Investments; in ForexBrokers.com’s category ranking, TMGM sits slightly higher at #18 out of 63, with FP Markets at #19. In short: pick TMGM if you want the most total symbols, or FP Markets if you prioritize a larger list of forex pairs.
| Feature |
FP Markets
|
TMGM
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 10000 | 12000 |
| Forex Pairs (Total) | 71 | 62 |
| U.S. Stocks (Shares) | No | No |
| Global Stocks (Non-U.S. Shares) | No | No |
| Copy Trading | Yes | Yes |
| Cryptocurrency (Underlying) | No | No |
| Cryptocurrency (CFDs) | 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.
FP Markets vs TMGM: Both brokers offer free demo (paper) accounts, copy trading, and the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5). Each provides a Windows desktop download and a web-based platform, and both let you place trades directly from charts. The key difference is that FP Markets also offers its own proprietary platform, while TMGM relies on third-party platforms.
For Trading Platforms and Tools, both earn 4 stars, but their standings differ: FP Markets is ranked #23 out of 63 brokers on ForexBrokers.com, while TMGM is #49. If you want an in-house platform option and a higher category ranking, FP Markets may suit you. If you prefer to stick with MetaTrader without an extra platform, TMGM could be a straightforward pick.
| Feature |
FP Markets
|
TMGM
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| Charting - Indicators / Studies (Total) | 30 | 30 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
FP Markets and TMGM both check the basics for mobile trading: each has iPhone and Android apps, supports stock and forex price alerts, lets you draw trendlines on charts, and auto-saves your drawings. Watchlists don’t sync between mobile and web for either broker. For charting, FP Markets uses the standard indicators available in MetaTrader, while TMGM lists 30 technical studies in its app.
Both brokers earn 4 stars for Mobile Trading Apps, yet their standings differ: FP Markets ranks #18 out of 63 brokers at ForexBrokers.com, whereas TMGM sits at #48. If you prefer MetaTrader’s familiar toolkit, FP Markets fits well; if you want a set list of 30 indicators, TMGM has that covered. Either way, you’ll get alerts and core chart tools on the go.
| Feature |
FP Markets
|
TMGM
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | No | No |
| Mobile Charting - Indicators / Studies | MetaTrader (Default) | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
FP Markets vs TMGM: both brokers deliver daily market commentary, forex news from top-tier sources like Bloomberg, Reuters, and Dow Jones, plus Trading Central tools. Each also provides a sentiment gauge showing long/short positioning and an economic calendar to track upcoming events. These shared features cover the core market research needs for most traders.
The standout differences come from extra tools. FP Markets adds Autochartist for pattern spotting and trade ideas, while TMGM includes Acuity Trading tools (such as Signal Centre) for signal-driven insights. Neither offers TipRanks. Independent ratings from ForexBrokers.com place FP Markets at 4 stars and #25 of 63 for Research, ahead of TMGM’s 3.5 stars and #54 ranking. Choose FP Markets if you want Autochartist and a higher third-party score; pick TMGM if Acuity Trading signals matter more to you.
| Feature |
FP Markets
|
TMGM
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central | Yes | Yes |
| Client sentiment data | Yes | Yes |
| TipRanks | No | No |
| Acuity Trading | No | Yes |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
For beginners seeking forex and CFD education, FP Markets offers a clear edge. The broker runs monthly client webinars and provides an on-demand video library with at least 10 beginner videos plus at least 10 advanced videos, helping you progress from basics to more detailed strategies. In the Education category, FP Markets holds a 4-star rating and ranks 23rd out of 63 brokers at ForexBrokers.com.
TMGM has fewer learning options for newcomers. It does not host monthly educational webinars and does not meet the 10-video threshold for beginner or advanced topics, which can make structured learning harder. TMGM’s education earns 3.5 stars and ranks 54th out of 63 at ForexBrokers.com. If you want a more complete, step-by-step path into trading, FP Markets is likely the better fit, while TMGM may suit those who only need light educational content.
| Feature |
FP Markets
|
TMGM
|
|---|---|---|
| Webinars | Yes | No |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | Yes | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that FP Markets is better than TMGM. FP Markets finished with an overall rank of #19, while TMGM finished with an overall rank of #37.
FP Markets shines as a low-cost broker for trading forex and CFDs – as long as you use the MetaTrader platform. The Iress platform suite offers well over 9,000 tradeable symbols, but it’s mostly a share trading platform – and is generally a much pricier option.
| Feature |
FP Markets
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TMGM
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|---|---|---|
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| Trust Score | 89 | 83 |
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FP Markets vs TMGM: both online brokers do not allow buying actual (delivered) cryptocurrency, but each supports trading cryptocurrency CFDs.
FP Markets vs TMGM: For deposit and withdrawal methods, FP Markets supports PayPal, Skrill, and bank wire transfers but not ACH/SEPA, while TMGM also does not support ACH/SEPA and its availability of PayPal, Skrill, Visa/Mastercard, or bank wires is not specified.
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 | FP Markets | TMGM | |
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| Trust Score | 89 | 83 | |
| Winner | check_circle | ||
| Review | FP Markets Review | TMGM Review |
| Broker Screenshots | FP Markets | TMGM | |
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| Regulation | FP Markets | TMGM | |
|---|---|---|---|
| Trust Score | 89 | 83 | |
| Year Founded | 2005 | 2013 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 2 | 2 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 2 |
| Tier-1 Licenses (Highly Trusted) | FP Markets | 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) | |||
| United Kingdom (U.K.) (FCA Authorised) | No | 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) | FP Markets | TMGM | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA, FSRA, or SCA Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | FP Markets | TMGM | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 10000 | 12000 | |
| Forex Pairs (Total) | 71 | 62 | |
| U.S. Stocks (Shares) | No | No | |
| Global Stocks (Non-U.S. Shares) | No | No | |
| Copy Trading | Yes | Yes | |
| Cryptocurrency (Underlying) | No | No | |
| Cryptocurrency (CFDs) | 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 | FP Markets | TMGM | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 1.2 | N/A | |
| All-in Cost EUR/USD - Active | 0.7 | N/A | |
| Inactivity Fee | No | Yes | |
| Order execution: Agency | No | Yes | |
| Order execution: Market Maker | Yes | Yes |
| Funding | FP Markets | TMGM | |
|---|---|---|---|
| Minimum Deposit | $100 AUD | $100 | |
| PayPal (Deposit/Withdraw) | Yes | ||
| Skrill (Deposit/Withdraw) | Yes | ||
| Bank Wire (Deposit/Withdraw) | Yes | ||
| Non-wire bank transfer | No | No |
| Trading Platforms | FP Markets | TMGM | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | Yes | No |
| Trading Tools | FP Markets | TMGM | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 30 | 30 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | FP Markets | TMGM | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | No | No | |
| Mobile Charting - Indicators / Studies | MetaTrader (Default) | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | FP Markets | TMGM | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central | Yes | Yes | |
| TipRanks | No | No | |
| Client sentiment data | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | FP Markets | TMGM | |
|---|---|---|---|
| Webinars | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | Yes | No |
| Major Forex Pairs | FP Markets | TMGM | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | FP Markets Review | TMGM Review |
| Overall | FP Markets | TMGM | |
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| Trust Score | 89 | 83 | |
| Winner | check_circle | ||
| Review | FP Markets Review | TMGM Review |
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