Written by ForexBrokers.com
In this head to head comparison of TMGM vs FXOpen, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
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When comparing online brokers TMGM and FXOpen, both companies were founded a decade apart, with FXOpen starting in 2003 and TMGM launching in 2013. Neither of these brokers are publicly traded or function as banks. On the regulatory front, TMGM and FXOpen each hold two Tier-1 licenses, which are highly trusted according to ForexBrokers.com. However, neither holds any Tier-2 licenses.
The ForexBrokers.com Trust Score gives TMGM a rating of 83, placing it in the trusted category, while FXOpen scores 76, marking it as presenting an average risk to investors. These scores suggest that TMGM is viewed as a more reliable option than FXOpen, despite both having the same number of top-tier licenses. For those seeking a trusted online trading partner, these scores and regulatory standings provide crucial insights.
| Feature |
TMGM
|
FXOpen
|
|---|---|---|
| Year Founded | 2013 | 2003 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 2 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 0 |
Comparing commissions and fees, TMGM and FXOpen both earn 4 out of 5 stars, but TMGM ranks higher at #37 out of 63 brokers, while FXOpen sits at #45. That means both are solid in this category, with TMGM holding a slight edge in our rankings.
TMGM’s trading costs depend on account type. The Classic account is spread-only, while the Edge account adds a small commission of $3.50 per side ($7 round trip) with low spreads and no requotes. Islamic (swap‑free) trading is available only on the Edge account. A key caveat: recent average spread data for EUR/USD isn’t available from TMGM, and top brokers typically publish this information to help traders compare real costs.
FXOpen also does not publish average spread data, making precise, apples‑to‑apples comparisons harder. Given the transparency of TMGM’s disclosed $3.50-per-side commission on the Edge account—and its higher ranking—cost‑conscious traders may find TMGM easier to evaluate. Still, both brokers carry the same 4-star rating for commissions and fees (TMGM: #37/63; FXOpen: #45/63).
| Feature |
TMGM
|
FXOpen
|
|---|---|---|
| Minimum Deposit | $100 | $100 |
| Average spread (EUR/USD) - Standard account | N/A | N/A |
| All-in Cost EUR/USD - Active | N/A | N/A |
| Non-wire bank transfer | No | No |
| PayPal (Deposit/Withdraw) | ||
| Skrill (Deposit/Withdraw) | ||
| Bank Wire (Deposit/Withdraw) |
Dive deeper: Best Low Spread Forex Brokers.
TMGM offers a far wider range of investments than FXOpen. TMGM lists about 12,000 tradeable symbols and 62 forex pairs, while FXOpen provides 87 symbols and 25 pairs. Both brokers support forex trading (via CFDs or spot contracts) and offer cryptocurrency CFDs, but neither lets you buy actual crypto. Copy trading is available at both. Also, neither broker offers exchange-traded securities on U.S. or international exchanges.
On range of investments, TMGM scores 4.5 out of 5 stars and ranks 18th out of 63 brokers on ForexBrokers.com, while FXOpen earns 3 out of 5 stars and ranks 63rd. If you want more markets and forex pairs to choose from, TMGM is the stronger pick; FXOpen may suit traders who only need a smaller lineup focused on core forex and crypto CFD choices.
| Feature |
TMGM
|
FXOpen
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 12000 | 87 |
| Forex Pairs (Total) | 62 | 25 |
| 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). |
Dive deeper: Best Copy Trading Platforms.
TMGM vs FXOpen: Both online brokers offer free demo (paper) accounts for practice. Neither provides a proprietary platform; instead, each supports MetaTrader 4 (MT4) and MetaTrader 5 (MT5) on Windows desktop and via a web-based browser platform. Copy trading is available with both, and you can place trades directly from charts. If you prefer the familiar MetaTrader experience and standard tools, either broker will feel straightforward to use.
For Trading Platforms and Tools, both are rated 4 out of 5 stars. In ForexBrokers.com’s category rankings, TMGM is placed 49th out of 63 brokers, while FXOpen ranks 54th out of 63—giving TMGM a slight edge. Specific counts for built-in indicators and watchlist fields weren’t provided, so your setup will largely reflect how you configure MT4 or MT5 and any add-ons you choose.
| Feature |
TMGM
|
FXOpen
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | No | 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.
Comparing TMGM and FXOpen for mobile trading, both brokers deliver iPhone and Android apps with price alerts, 30 built-in technical studies, and the ability to draw trendlines on stock or forex charts. If you trade on the go, you’ll find similar charting tools and indicator coverage in each app.
The key difference is chart drawing management: TMGM’s app auto-saves your drawings, while FXOpen’s does not. Neither broker offers watchlist symbol syncing between mobile and the online account. According to ForexBrokers.com, both earn 4 out of 5 stars for Mobile Trading Apps, with TMGM ranked 48th out of 63 brokers and FXOpen ranked 55th. If autosaving chart work and a slightly higher ranking matter to you, TMGM has a small edge; otherwise, both cover the essentials.
| Feature |
TMGM
|
FXOpen
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | No |
Dive deeper: Best Forex Trading Apps.
Both TMGM and FXOpen cover the basics of market research, offering daily market commentary, top-tier forex news (from sources like Bloomberg, Reuters, or Dow Jones), and an economic calendar. Neither broker includes Autochartist. TMGM adds more built-in tools, including Trading Central’s analytics and a sentiment indicator that shows the ratio of long and short positions. FXOpen does not list Trading Central or a sentiment tool. Availability of TipRanks and Acuity Trading for FXOpen was not specified.
When it comes to research quality, TMGM is rated 3.5 stars and ranked 54th by ForexBrokers.com, while FXOpen holds 3 stars and ranks 64th. If you want extra analysis features such as Trading Central and a sentiment gauge, TMGM has the edge. If you mainly need daily commentary, trusted news, and a calendar, either broker can fit the bill.
| Feature |
TMGM
|
FXOpen
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central | Yes | No |
| Client sentiment data | Yes | No |
| TipRanks | No | |
| Acuity Trading | Yes | |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
For beginners comparing education, TMGM has a slight edge over FXOpen. TMGM is rated 3.5 out of 5 stars for Education and ranks 54th out of 63 brokers on ForexBrokers.com, while FXOpen scores 3 stars and ranks 59th. That suggests TMGM offers a somewhat stronger learning experience, though both fall in the lower half of the field.
Neither broker runs monthly client webinars, and neither provides at least 10 beginner videos or 10 advanced videos. Details on whether each broker maintains a 10+ piece forex/CFD education library were not specified in the data provided. If you want frequent live sessions or a large video catalog for step-by-step learning, you may need to look elsewhere.
| Feature |
TMGM
|
FXOpen
|
|---|---|---|
| Webinars | No | No |
| Videos - Beginner Trading Videos | No | No |
| Videos - Advanced Trading Videos | No | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that TMGM is better than FXOpen. TMGM finished with an overall rank of #37, while FXOpen finished with an overall rank of #54.
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.
| Feature |
TMGM
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FXOpen
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|---|---|---|
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| Trust Score | 83 | 76 |
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TMGM vs FXOpen: Both online brokers do not allow buying actual (delivered) cryptocurrencies, but both offer trading in cryptocurrency CFDs.
TMGM vs FXOpen: both online brokers do not support ACH or SEPA transfers for deposits or withdrawals, and the availability of other funding options—PayPal, Skrill, Visa/Mastercard, and bank wire—was not specified; verify current deposit and withdrawal methods with each broker.
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 | TMGM | FXOpen | |
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| Trust Score | 83 | 76 | |
| Winner | check_circle | ||
| Review | TMGM Review |
| Broker Screenshots | TMGM | FXOpen | |
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| Broker Gallery (click to expand) |
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| Regulation | TMGM | FXOpen | |
|---|---|---|---|
| Trust Score | 83 | 76 | |
| Year Founded | 2013 | 2003 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes | |
| Tier-1 Licenses | 2 | 2 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 0 |
| Tier-1 Licenses (Highly Trusted) | TMGM | FXOpen | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| 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 | Yes | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes |
| Tier-2 Licenses (Trusted) | TMGM | FXOpen | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA, FSRA, or SCA Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | TMGM | FXOpen | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 12000 | 87 | |
| Forex Pairs (Total) | 62 | 25 | |
| 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). |
| Cost | TMGM | FXOpen | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | N/A | N/A | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Inactivity Fee | Yes | Yes | |
| Order execution: Agency | Yes | Yes | |
| Order execution: Market Maker | Yes | Yes |
| Funding | TMGM | FXOpen | |
|---|---|---|---|
| Minimum Deposit | $100 | $100 | |
| PayPal (Deposit/Withdraw) | |||
| Skrill (Deposit/Withdraw) | |||
| Bank Wire (Deposit/Withdraw) | |||
| Non-wire bank transfer | No | No |
| Trading Platforms | TMGM | FXOpen | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | No | 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 | No | No |
| Trading Tools | TMGM | FXOpen | |
|---|---|---|---|
| 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 | TMGM | FXOpen | |
|---|---|---|---|
| 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 | 30 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | No | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | TMGM | FXOpen | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central | Yes | No | |
| TipRanks | No | ||
| Client sentiment data | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | TMGM | FXOpen | |
|---|---|---|---|
| Webinars | No | No | |
| Videos - Beginner Trading Videos | No | No | |
| Videos - Advanced Trading Videos | No | No |
| Major Forex Pairs | TMGM | FXOpen | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | TMGM Review |
| Overall | TMGM | FXOpen | |
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| Trust Score | 83 | 76 | |
| Winner | check_circle | ||
| Review | TMGM Review |
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