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FXCM vs TMGM 2024

ForexBrokers.com

Written by ForexBrokers.com

August 29, 2023

Is FXCM better than TMGM? In our analysis of 23 international regulators across 62 of the best forex brokers, FXCM 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 FXCM TMGM
Overall Rating info 4.5/5 Stars 4/5 Stars
Commissions & Fees 4/5 Stars 4/5 Stars
Offering of Investments 3.5/5 Stars 4.5/5 Stars
Platform & Tools 5/5 Stars 4/5 Stars
Mobile Trading 4.5/5 Stars 4/5 Stars
Research 4.5/5 Stars 3.5/5 Stars
Education 4/5 Stars 3.5/5 Stars
Trust Score info 95 83
Winner check_circle
Review FXCM Review TMGM Review
Broker Screenshots FXCM 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 FXCM TMGM
Trust Score info 95 83
Year Founded info 1999 2013
Publicly Traded (Listed) info Yes No
Bank info No No
Regulated in one or more EU or EEA countries (MiFID). info Yes info No info
Tier-1 Licenses info 4 2
Tier-2 Licenses info 2 0
Tier-3 Licenses info 0 0
Tier-4 Licenses info 0 2
Tier-1 Licenses (Highly Trusted) FXCM TMGM
Australia (ASIC Authorised) info Yes Yes
Canada (CIRO Authorised) info Yes 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) FXCM TMGM
Kenya (CMA Authorised) info No No
Israel (ISA Authorised) info Yes No
South Africa (FSCA Authorised) info Yes No
UAE (DFSA/Central Bank Authorised) info No No
India (SEBI Authorised) info No No
Jordan (JSC Authorised) info No No
Investments FXCM TMGM
Forex Trading (Spot or CFDs) info Yes Yes
Tradeable Symbols (Total) info 440 12000
Forex Pairs (Total) info 40 62
U.S. Stock Trading (Non CFD) info No No
Int'l Stock Trading (Non CFD) info No No
Social Trading / Copy Trading info Yes Yes
Cryptocurrency (Physical) info No No
Cryptocurrency (Derivative) info 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 FXCM TMGM
Average Spread EUR/USD - Standard info 0.74 info N/A info
All-in Cost EUR/USD - Active info 0.74 info N/A info
Active Trader or VIP Discounts info Yes No
Inactivity Fee info Yes Yes
Execution: Agency Broker info Yes Yes
Execution: Market Maker info Yes Yes
Funding FXCM TMGM
Minimum Deposit info Starts from $50 $100
PayPal (Deposit/Withdraw) info Yes Yes
Skrill (Deposit/Withdraw) info Yes Yes
Visa/Mastercard (Credit/Debit) info Yes Yes
Bank Wire (Deposit/Withdraw) info Yes Yes
ACH or SEPA Transfers info Yes No
Trading Platforms FXCM TMGM
Proprietary Platform info Yes No
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
Social Trading / Copy Trading info Yes Yes
MetaTrader 4 (MT4) info Yes Yes
MetaTrader 5 (MT5) info No Yes
cTrader info No No
DupliTrade info No No
ZuluTrade info Yes info No
Trading Tools FXCM TMGM
Virtual Trading (Demo) info Yes Yes
Alerts - Basic Fields info Yes Yes
Watchlists - Total Fields info 13 7
Charting - Indicators / Studies (Total) info 115 30
Charting - Drawing Tools (Total) info 10 15
Charting - Trade From Chart info Yes Yes
Charts can be saved info Yes Yes
Mobile Trading FXCM TMGM
Android App info Yes Yes
Apple iOS App info Yes Yes
Mobile Alerts - Basic Fields info Yes Yes
Mobile Watchlist info Yes Yes
Watchlist Syncing info Yes No
Mobile Charting - Indicators / Studies info 59 30
Mobile Charting - Draw Trendlines info Yes Yes
Mobile Charting - Multiple Time Frames info Yes Yes
Mobile Charting - Drawings Autosave info Yes Yes
Mobile Economic Calendar info Yes Yes
Research FXCM TMGM
Daily Market Commentary info Yes Yes
Forex News (Top-Tier Sources) info Yes Yes
Autochartist info No No
Trading Central (Recognia) info Yes Yes
TipRanks info Yes No
Social Sentiment - Currency Pairs info Yes Yes
Economic Calendar info Yes Yes
Education FXCM TMGM
Education (Forex or CFDs) info Yes No
Client Webinars info Yes No
Client Webinars (Archived) info Yes Yes
Videos - Beginner Trading Videos info Yes No
Videos - Advanced Trading Videos info Yes No
Investor Dictionary (Glossary) info Yes Yes
Major Forex Pairs FXCM 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 FXCM Review TMGM Review
Overall FXCM TMGM
Overall Rating info 4.5/5 Stars 4/5 Stars
Commissions & Fees 4/5 Stars 4/5 Stars
Offering of Investments 3.5/5 Stars 4.5/5 Stars
Platform & Tools 5/5 Stars 4/5 Stars
Mobile Trading 4.5/5 Stars 4/5 Stars
Research 4.5/5 Stars 3.5/5 Stars
Education 4/5 Stars 3.5/5 Stars
Trust Score info 95 83
Winner check_circle
Review FXCM Review TMGM Review
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FXCM 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 FXCM vs TMGM.

Can I trust FXCM?

FXCM's parent company is publicly-traded, does not operate a bank, and is authorised by four Tier-1 regulators (Highly Trusted), two Tier-2 regulators (Trusted), zero Tier-3 regulators (Average Risk), and zero Tier-4 regulators (High Risk). FXCM is authorised by the following Tier-1 regulators: Australian Securities & Investment Commission (ASIC), Financial Conduct Authority (FCA), Canadian Investment Regulatory Organization (CIRO), 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 FXCM good?

For traders who appreciate advanced trading tools and quality market research, FXCM is a winner, especially for algorithmic trading. Its range of tradeable markets is fairly narrow, however, and the pricing at FXCM is just average.

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 FXCM?

To open a trading account with FXCM, you'll need to make an initial minimum deposit of Starts from $50.

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. Both FXCM and TMGM offer Visa/Mastercard (Credit/Debit), Bank Wire (Deposit/Withdraw), PayPal (Deposit/Withdraw), Skrill (Deposit/Withdraw) and Neteller (Deposit/Withdraw).

Does FXCM 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 FXCM 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 FXCM 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 FXCM holds 4 global Tier-1 licenses, while TMGM holds 2. FXCM holds 2 global Tier-2 licenses, while TMGM holds 0.

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 FXCM (95) earned a higher Trust Score than TMGM (83).

Which trading platform is better: FXCM or TMGM?

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

Here’s what trading platforms are available at FXCM:

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

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. Both FXCM and TMGM offer MetaTrader 4 (MT4). Forex traders also appreciate the ability to engage in social copy trading. FXCM and TMGM both offer copy trading.

What can I trade with each broker?

TMGM provides traders 62 currency pairs (e.g., EUR/USD) compared to FXCM's 40 available pairs. If you are interested in trading a full range of securities, TMGM offers traders access to 12000 tradeable symbols, while FXCM offers access to 440 tradeable symbols; so TMGM offers 11560 more tradeable symbols than FXCM.

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

Overall winner: FXCM

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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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