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 | 1 | 2 |
When it comes to commissions and fees, FP Markets stands out with its competitive pricing, particularly through its MetaTrader and cTrader platforms. The broker earns high praise with a five-star rating and ranks 6th out of 63 brokers for this category, reflecting its cost-effective ECN account offerings. The Raw ECN account options feature attractive spreads averaging 0.1 pips, with a total cost of 0.8 pips after including commissions, while the Standard account offers an average spread of 1.1 pips for EUR/USD. However, for those opting for the Iress platform, only the ViewPoint account may come with high costs unless specific trading volume requirements are met.
On the other hand, TMGM is recognized for its straightforward pricing with its Edge account, securing a four-star rating and a 36th place rank among its peers. The Edge account is appealing to those favoring commission-based trading, charging a modest $7 per round trip complemented by low spreads. Although TMGM does not provide recent average spread data for EUR/USD, the Edge account remains a preferred choice over the Classic account, especially for traders interested in interest-free options under Islamic finance standards.
Both brokers offer various accounts catering to different trading needs, with FP Markets focusing on active traders through its tiered Iress accounts and TMGM providing cost-effective solutions via its Edge account. Whether you prioritize minimal trading costs or specific platform features, FP Markets and TMGM present solid options in the landscape of online trading brokers.
| Feature |
FP Markets
|
TMGM
|
|---|---|---|
| Minimum Deposit | $100 AUD | $100 |
| Average Spread EUR/USD - Standard | 1.2 | N/A |
| All-in Cost EUR/USD - Active | 0.7 | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
FP Markets and TMGM offer a competitive edge with their broad range of investment products for traders of varied interests. Both brokers facilitate forex trading through CFD or spot contracts, giving investors flexibility in how they engage with the currency market. FP Markets provides access to an impressive 10,000 tradeable symbols, while TMGM surpasses this with 12,000 symbols. Regarding forex pairs, FP Markets takes a slight advantage, offering 71 pairs compared to TMGM's 62. However, neither broker provides access to exchange-traded securities on U.S. or international exchanges, meaning investors looking to buy actual shares like Apple or Vodafone will need to explore other options.
Both brokers support innovative trading methods, offering copy trading and the ability to trade cryptocurrency derivatives, but not actual cryptocurrencies. While FP Markets and TMGM share a 4.5-star rating for their range of investments, TMGM edges out in the rankings by ForexBrokers.com, securing the 17th position among 63 brokers compared to FP Markets' 18th place. These rankings highlight their comprehensive offerings, making both platforms solid contenders for traders focusing on CFDs and diverse market access.
| Feature |
FP Markets
|
TMGM
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 10000 | 12000 |
| Forex Pairs (Total) | 71 | 62 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | No |
| Social Trading / Copy Trading | Yes | 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.
Both FP Markets and TMGM offer a solid range of trading platforms and tools that cater to a variety of trader needs. If you're looking to test strategies without financial risk, both brokers provide free virtual demo accounts, an excellent feature for newcomers and seasoned traders alike. FP Markets sets itself apart by offering a proprietary platform developed in-house, alongside other popular platforms, whereas TMGM does not have its own proprietary platform. Both brokers support Windows-based desktop downloads and web-based platforms, allowing traders flexibility in how they access their accounts. Additionally, both offer MetaTrader 4 (MT4) and MetaTrader 5 (MT5), as well as support for copy trading, providing versatile options for platform preferences and trading styles.
When it comes to charting capabilities, FP Markets edges out TMGM slightly with 17 drawing tools compared to TMGM's 15, but both boast a generous seven columns for watch lists. Both brokers allow trading directly from stock charts, enhancing the user experience. While neither offers DupliTrade or ZuluTrade, they each maintain their appeal through other features. In terms of industry recognition, FP Markets stands higher ranked at #23 out of 63 brokers by ForexBrokers.com, compared to TMGM's rank at #48 in the Trading Platforms and Tools category. However, both share a commendable 4-star rating for their offerings, indicating a high level of customer satisfaction.
| Feature |
FP Markets
|
TMGM
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 30 | 30 |
| Charting - Drawing Tools (Total) | 17 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
FP Markets and TMGM both offer user-friendly mobile trading apps for iPhone and Android users, delivering essential tools for forex and stock trading on the go. Both platforms feature price alerts and the ability to manage multiple time frames on stock and forex charts. Traders can also enjoy drawing trendlines and saving their chart drawings automatically, providing a seamless experience. While both apps allow creating watchlists with real-time quotes, they lack the capability for watchlist symbol syncing across devices, which might require manual updates between mobile and online accounts.
When it comes to technical studies, TMGM offers 30 built-in options, while FP Markets leverages the default offerings of MetaTrader, which may cater to more advanced traders familiar with the platform. Both apps are well-received by users, each earning a 4-star rating for mobile trading. However, FP Markets holds a higher position, ranking #18 out of 63 brokers on ForexBrokers.com, compared to TMGM's #47 ranking. This distinction reflects FP Markets' stronger standing among users for its mobile trading capabilities.
| Feature |
FP Markets
|
TMGM
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | MetaTrader (Default) | 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.
FP Markets and TMGM both provide daily market commentary and deliver forex news from top-tier sources such as Bloomberg and Reuters, offering their users reliable and timely information. Both brokers also feature tools from Trading Central and provide traders with sentiment-based insights to inform trading decisions. FP Markets stands out with the inclusion of tools from Autochartist, which enhances traders' technical and fundamental analysis capabilities, though TMGM does not offer this feature. On the other hand, TMGM distinguishes itself by providing research tools from Acuity Trading, such as Signal Centre, offering a unique advantage for traders seeking diverse resources.
When it comes to supporting traders with economic calendars, FP Markets and TMGM both ensure users are informed of current and upcoming global news events. However, when comparing their overall research offerings, FP Markets receives a superior rating of 4 stars for research, contrasting with TMGM's 3.5 stars. In rankings from ForexBrokers.com, FP Markets holds the 25th position out of 63 brokers, significantly ahead of TMGM, which ranks 53rd. This positions FP Markets as a more favorable option for traders prioritizing comprehensive research tools and resources.
| Feature |
FP Markets
|
TMGM
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | 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 exploring the educational opportunities offered by online brokers, FP Markets shines as a strong contender for beginners. It delivers a wide range of forex and CFDs learning materials, including an impressive library of over 10 articles, videos, and archived webinars focused on these financial subjects. FP Markets goes a step further by hosting monthly online webinars, ensuring continuous learning opportunities for its clients. Additionally, new traders can tap into a robust selection of beginner-focused videos that simplify complex trading concepts, while experienced traders can deepen their knowledge with advanced video content. An extensive investor dictionary is also readily available, offering definitions for over 50 investing terms to support learning.
In comparison, TMGM's educational offerings are more limited. They do not meet the threshold for providing a minimum of 10 educational pieces specifically about forex or CFDs, and there is no regular schedule of live webinars for real-time learning engagement. The broker does offer an archive of past webinars and an investor dictionary with ample definitions, but lacks substantial video content geared towards either novice or advanced traders. This results in a lower overall rating in the education category, with TMGM receiving 3.5 stars compared to FP Markets' 4 stars. Among 63 brokers ranked by ForexBrokers.com for educational resources, TMGM is positioned at #54, while FP Markets stands at a more favorable #23.
| Feature |
FP Markets
|
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 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
|
TMGM
|
|---|---|---|
| Overall Rating |
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| Trust Score | 89 | 83 |
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Both FP Markets and TMGM do not provide the option to purchase actual delivered cryptocurrency, but they do offer the ability to invest in cryptocurrency derivatives.
Both FP Markets and TMGM offer options like PayPal, Skrill, Visa or Mastercard, and bank wires for depositing or withdrawing account funds, but neither supports ACH or SEPA transfers.
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 |
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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 | 1 | 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) | No | No | |
| 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) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | FP Markets | TMGM | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 10000 | 12000 | |
| Forex Pairs (Total) | 71 | 62 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | No | |
| Social Trading / Copy Trading | Yes | 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 | FP Markets | TMGM | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.2 | N/A | |
| All-in Cost EUR/USD - Active | 0.7 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | No | Yes | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | FP Markets | TMGM | |
|---|---|---|---|
| Minimum Deposit | $100 AUD | $100 | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | FP Markets | TMGM | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | Yes | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | FP Markets | TMGM | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 7 | |
| Charting - Indicators / Studies (Total) | 30 | 30 | |
| Charting - Drawing Tools (Total) | 17 | 15 | |
| 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 Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | MetaTrader (Default) | 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 | FP Markets | TMGM | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | FP Markets | 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 | FP Markets | 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 | 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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