Written by ForexBrokers.com
In this head to head comparison of FxPro 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.
FxPro, established in 2006, and TMGM, which started in 2013, are both online brokers that provide trading services but have some key differences in their regulatory standings. FxPro is a registered bank, while TMGM is not, and neither is publicly traded. Both brokers hold two Tier-1 licenses, ensuring a high level of trust per ForexBrokers.com standards. Additionally, FxPro holds one Tier-2 license, considered a trusted designation, which TMGM does not possess. This contributes to FxPro's higher Trust Score of 93, categorizing it as highly trusted, compared to TMGM's Trust Score of 83, which also deems it an overall trusted broker.
FxPro's regulatory framework and longer establishment in the market position it as a reliable choice for traders seeking a broker with a solid trust rating and banking status. TMGM, while slightly newer and lacking a banking status, still maintains trustworthiness underlined by its dual Tier-1 licenses and a commendable Trust Score. Prospective clients seeking an online broker can use these distinctions to choose based on their personal preferences for trust and regulatory oversight.
| Feature |
FxPro
|
TMGM
|
|---|---|---|
| Year Founded | 2006 | 2013 |
| Publicly Traded (Listed) | No | No |
| Bank | Yes | No |
| Tier-1 Licenses | 2 | 2 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 2 |
FxPro and TMGM both offer competitive trading conditions, but with distinct differences in their commissions and fees structures. FxPro, rated 4 stars for commissions and fees, ranks #32 out of 63 brokers according to ForexBrokers.com. It offers variable and fixed spreads on its MT4 platform, with instant and market execution options. Notably, FxPro's cTrader platform offers the most competitive pricing with an effective spread of approximately 1.27 pips on the EUR/USD pair, accounting for a 0.37 pip average spread and a 0.9 pip commission equivalent. While traders can benefit from the Active Trader program, the net savings still lag behind those offered by other major competitors like FOREX.com and Saxo Bank.
Meanwhile, TMGM, also rated 4 stars and ranked #36 for commissions and fees, stands out with its Edge account offering, which applies a commission of $3.50 per side and features low spreads without requotes. While detailed average spread data for the EUR/USD pair is lacking, TMGM provides the Classic account option for spread-only trading. The broker also caters to Islamic finance needs with swap-free accounts available via the Edge account. Despite a competitive pricing model, accessing transparent spread data would better position TMGM alongside top-tier brokers.
In summary, while both brokers offer competitive pricing, FxPro provides a more detailed account of its spread offerings, particularly on the cTrader platform. TMGM excels with its low commission costs on the Edge account and supports Islamic finance needs. Potential traders should consider these factors when choosing a broker, all while keeping in mind their respective star ratings and industry rankings on commissions and fees.
| Feature |
FxPro
|
TMGM
|
|---|---|---|
| Minimum Deposit | $100 | $100 |
| Average Spread EUR/USD - Standard | 1.51 | N/A |
| All-in Cost EUR/USD - Active | 1.27 | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | 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.
FxPro and TMGM are both formidable contenders in the realm of online trading, each catering to forex enthusiasts with their diverse investment options. While both offer forex trading as CFDs or spot contracts, FxPro provides access to 2249 tradeable symbols compared to TMGM's impressive 12000. However, when it comes to the variety of forex pairs, FxPro edges slightly ahead with 70 pairs against TMGM’s 62. Although neither broker provides exchange-traded securities on U.S. exchanges, FxPro surpasses TMGM by offering international exchange-traded securities, allowing clients the opportunity to invest in global companies such as Vodafone.
Both brokers are neck-and-neck in modern trading conveniences, including offering copy trading services and the ability to trade cryptocurrency derivatives albeit not the cryptocurrencies themselves. While FxPro boasts a commendable 4-star rating in the Range of Investments category, TMGM edges out with a slightly better score of 4.5 stars. According to ForexBrokers.com, TMGM ranks #17 out of 63 brokers for its investment range, bolstered by a broader symbol selection, while FxPro holds its ground at #28. Ultimately, each platform presents unique strengths that cater to varying trader preferences, with TMGM leading in overall investment variety and FxPro shining in international securities.
| Feature |
FxPro
|
TMGM
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 2249 | 12000 |
| Forex Pairs (Total) | 70 | 62 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | Yes | 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.
FxPro and TMGM both cater to traders with a variety of platforms and tools designed to enhance trading experiences. Both brokers offer free virtual demo accounts for users to simulate trading in a risk-free environment. While FxPro has developed its own proprietary platform, TMGM does not offer an in-house platform, relying instead on widely-used options. Both brokers provide access to MetaTrader 4 (MT4) and MetaTrader 5 (MT5), allowing traders to utilize these popular trading environments. FxPro and TMGM equally support web-based and Windows-based desktop trading options. Furthermore, they both enable copy trading, offering traders the opportunity to follow the strategies of others.
When it comes to charting tools, FxPro offers 25 drawing tools compared to TMGM's 15, giving it an edge in technical analysis capabilities. Both brokers allow users to trade directly from stock charts, improving trading efficiency. Despite these offerings, neither broker includes support for DupliTrade or ZuluTrade. For watch lists, TMGM provides a slight advantage with 7 columns, compared to FxPro's 6. Despite offering similar functionalities, FxPro ranks higher in trading platforms and tools according to ForexBrokers.com, positioned at #17 out of 63 brokers, while TMGM sits at #48. Both brokers received a rating of 4 out of 5 stars in this category, indicating a solid performance overall.
| Feature |
FxPro
|
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) | 53 | 30 |
| Charting - Drawing Tools (Total) | 25 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 6 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When it comes to mobile trading apps, both FxPro and TMGM offer services for iPhone and Android users. They provide essential features such as stock and forex price alerts, as well as the ability to create watchlists with real-time quotes. However, FxPro sets itself apart with watchlist symbol syncing, ensuring your lists stay updated across both mobile and online accounts—something TMGM does not offer. Additionally, FxPro provides a more comprehensive charting experience with 65 technical studies, compared to TMGM's 30.
In terms of functionality, both apps allow drawing trendlines on charts and support various time frames, from intraday to weekly views. Both also auto-save chart drawings. Furthermore, FxPro's mobile app holds a slightly higher user rating at 4.5 stars, compared to TMGM's 4 stars. According to ForexBrokers.com, FxPro stands at #15 in the Mobile Trading Apps category among 63 brokers, while TMGM ranks at #47. This makes FxPro a more highly regarded choice for mobile traders seeking a feature-rich experience.
| Feature |
FxPro
|
TMGM
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 65 | 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.
Both FxPro and TMGM provide traders with daily market commentary and access to forex news from top-tier sources such as Bloomberg, Reuters, and Dow Jones. They also offer tools from Trading Central, like Technical Analytics, as well as sentiment-based trading tools that display the ratio of long and short positions across currency pairs. Additionally, both brokers feature an economic calendar showcasing global news events to keep traders well-informed.
However, there are some distinctions between the two brokers. While TMGM offers research tools from Acuity Trading, such as the Signal Centre, FxPro does not. Furthermore, FxPro is rated higher for research with a 4-star rating compared to TMGM's 3.5 stars. This is reflected in their rankings for Research by ForexBrokers.com, where FxPro stands at #26 out of 63 brokers, whereas TMGM is ranked #53. Overall, both platforms have strengths, but FxPro seems to offer a slightly more comprehensive research experience.
| Feature |
FxPro
|
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.
For beginners diving into online trading, the educational offerings of a broker can provide valuable learning opportunities. FxPro stands out by offering a well-rounded suite of educational resources, making it a strong choice for novice traders interested in forex and CFDs. The broker provides more than 10 educational pieces, such as articles and videos on core trading topics, and offers a searchable archive of recorded webinars that can enhance a trader's understanding. Additionally, there are over 10 beginner-focused videos designed specifically for newcomers, along with a comprehensive investor dictionary featuring over 50 investing terms. This focus on education positions FxPro as a resourceful option, earning it a solid 4-star education rating and an education category ranking of #18 out of 63 brokers on ForexBrokers.com.
In contrast, TMGM also makes some attempts to inform its clients, but its resources for beginner traders are comparatively limited. While both FxPro and TMGM offer an archive of recorded client webinars and a decent investor dictionary, TMGM does not offer the same breadth of beginner educational videos or exceed the minimum threshold of educational materials on forex and CFDs. Consequently, this results in a slightly lower educational rating of 3.5 stars and a ranking of #54 in the education category among 63 brokers. Therefore, while TMGM provides a baseline for educational offerings, beginners needing more extensive resources might find FxPro to be a more engaging and informative platform.
| Feature |
FxPro
|
TMGM
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | No | No |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | No | 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 FxPro is better than TMGM. FxPro finished with an overall rank of #21, while TMGM finished with an overall rank of #37.
FxPro competes among the top MetaTrader brokers, featuring multiple account options and various execution methods. It provides its own proprietary FxPro Edge app – though it isn’t yet available for mobile – alongside access to the BnkPro app (which isn’t yet available in all regions).
| Feature |
FxPro
|
TMGM
|
|---|---|---|
| Overall Rating |
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| Trust Score | 93 | 83 |
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Neither FxPro nor TMGM offers the capability to purchase actual delivered cryptocurrency, but both provide the option to trade cryptocurrency derivatives.
When comparing online brokers, FxPro distinguishes itself from TMGM by offering a broader range of funding options, including ACH and SEPA transfers, along with common methods like PayPal, Skrill, Visa/Mastercard, and bank wires, while TMGM supports all except ACH and 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 | FxPro | TMGM | |
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| Trust Score | 93 | 83 | |
| Winner | check_circle | ||
| Review | FxPro Review | TMGM Review |
| Broker Screenshots | FxPro | TMGM | |
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| Regulation | FxPro | TMGM | |
|---|---|---|---|
| Trust Score | 93 | 83 | |
| Year Founded | 2006 | 2013 | |
| Publicly Traded (Listed) | No | No | |
| Bank | Yes | 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) | FxPro | TMGM | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | 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) | Yes | 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) | FxPro | 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 | FxPro | TMGM | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 2249 | 12000 | |
| Forex Pairs (Total) | 70 | 62 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | Yes | 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 | FxPro | TMGM | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.51 | N/A | |
| All-in Cost EUR/USD - Active | 1.27 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | FxPro | TMGM | |
|---|---|---|---|
| Minimum Deposit | $100 | $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 | Yes | No |
| Trading Platforms | FxPro | 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 | FxPro | TMGM | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 6 | 7 | |
| Charting - Indicators / Studies (Total) | 53 | 30 | |
| Charting - Drawing Tools (Total) | 25 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | FxPro | 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 | 65 | 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 | FxPro | 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 | FxPro | TMGM | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | No | No | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | No | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | FxPro | 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 | FxPro Review | TMGM Review |
| Overall | FxPro | TMGM | |
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| Trust Score | 93 | 83 | |
| Winner | check_circle | ||
| Review | FxPro Review | TMGM Review |
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