Written by ForexBrokers.com
In this head to head comparison of HFM 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.
HFM and TMGM, both founded in the 2010s, are online brokers not listed on any stock exchange, nor are they banking institutions. When it comes to regulatory approvals, HFM and TMGM are on a similar footing with each holding two Tier-1 licenses, considered highly trusted by ForexBrokers.com. The main differentiator is in their Tier-2 licenses: HFM has three, while TMGM holds none. This additional regulatory approval gives HFM an edge when it comes to establishing trust.
In terms of trust ratings provided by ForexBrokers.com, HFM boasts a score of 86, indicating it is a trusted broker. On the other hand, TMGM follows closely behind with a score of 83, falling within the same category. As neither company is publicly traded or operates as a bank, their trust levels are largely built upon their regulatory licenses and performance histories.
| Feature |
HFM
|
TMGM
|
|---|---|---|
| Year Founded | 2010 | 2013 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 2 |
| Tier-2 Licenses | 3 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 2 |
When comparing HFM and TMGM in terms of commissions and fees, both brokers receive a 4-star rating. HFM, ranked #31 out of 62 brokers by ForexBrokers.com, offers slightly above average trading costs. Standard accounts have a typical spread of 1.2 pips, though this estimate lacks a specified date range, indicating potential variability. The Zero account features an effective spread of 0.7 pips after commission, yet this is not an average spread, leaving room for some uncertainty regarding overall charges.
TMGM, on the other hand, stands at #36 in the Commissions and Fees category. It presents a competitive edge through its Edge account, known for low spreads and no requotes. However, specifics on average spreads for the popular EUR/USD pair are unavailable, which is a disadvantage for those wanting detailed insight into trading costs. TMGM's Edge account charges a small commission of $3.50 per side, making it an attractive option for those valuing cost efficiency.
For Islamic finance customers seeking Sharia-compliant options, TMGM requires using the Edge account since the Classic account does not offer a swap-free option. This setup is crucial for traders who prioritize adhering to Islamic financial principles while managing their economic transactions efficiently.
| Feature |
HFM
|
TMGM
|
|---|---|---|
| Minimum Deposit | $0 | $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 | No | No |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | No | 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.
When it comes to the variety of investments, HFM and TMGM both present appealing options for online traders, yet there are some notable differences. HFM offers an impressive 500 tradeable symbols and excels with 102 forex pairs, allowing for diverse currency investment strategies. This is paired with their support for forex trading as both a Contract for Difference (CFD) and in spot contracts, as well as cryptocurrency derivatives, ensuring a comprehensive trading platform. Additionally, they offer copy trading, which enables users to replicate successful trades from experienced traders.
On the other hand, TMGM offers a staggering range of 12,000 tradeable symbols, which surpasses HFM, although it manages fewer forex pairs with 62 options. Like HFM, TMGM facilitates forex trading as a CFD and spot contract alongside cryptocurrency derivatives and copy trading features. Neither broker offers exchange-traded securities on U.S. or international exchanges, nor the ability to purchase actual (delivered) cryptocurrencies. TMGM receives a higher rating of 4.5 stars for Range of Investments, reflecting its broader trading possibilities, and it ranks 17th out of 62 brokers in this category, compared to HFM's 36th place ranking with 4 stars, highlighting a slightly more expansive offering from TMGM.
| Feature |
HFM
|
TMGM
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 500 | 12000 |
| Forex Pairs (Total) | 102 | 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.
When comparing the online brokers HFM and TMGM, both offer a range of platforms and tools to accommodate traders of different preferences. Both platforms provide simulated trading via free virtual demo accounts, aiding users in honing their skills without financial risk. While HFM boasts a proprietary platform, TMGM does not, though both provide the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. For users who prefer a desktop experience, both brokers offer Windows-based trading platforms, as well as web-based options for browser-based trading. Additionally, HFM and TMGM support copy trading, allowing users to mimic successful traders’ strategies.
In terms of charting capabilities, HFM offers more drawing tools, providing 30 compared to TMGM’s 15. Both brokers allow trading directly from stock charts, offering a seamless trading experience. When evaluating watch lists, both offer the same number of columns, ensuring comparable ease in customizing market views. Despite these differences, both brokers received a four-star rating for trading platforms and tools. However, HFM ranks slightly higher at 42nd out of 62 brokers evaluated by ForexBrokers.com, compared to TMGM’s 48th position. While both platforms have their strengths, these insights provide a basis for traders to make informed decisions based on their specific trading needs.
| Feature |
HFM
|
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) | 15 | 30 |
| Charting - Drawing Tools (Total) | 30 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of HFM and TMGM, both brokers offer applications compatible with iPhone and Android devices, ensuring that traders can access the markets on the go. They both provide essential features like stock and forex price alerts and enable users to draw trendlines on charts. Each app supports viewing different time frames, such as daily or weekly, and offers a robust 30 technical studies for chart analysis. Moreover, both allow for the creation of watchlists with real-time quotes and ensure that any drawings made on charts are automatically saved. Despite these similarities, neither app currently supports syncing watchlists across different devices or the online account.
Both HFM and TMGM's mobile trading apps receive an equal rating of four stars for their offerings. However, when evaluated by ForexBrokers.com, HFM ranks slightly higher in the Mobile Trading Apps category, coming in at #39 out of 62 brokers, whereas TMGM holds the #47 spot. This minor difference in ranking could be a consideration for traders prioritizing platform reputation. Nevertheless, both apps are well-rounded tools suitable for traders seeking a comprehensive mobile trading experience.
| Feature |
HFM
|
TMGM
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | 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.
When comparing online brokers HFM and TMGM for market research, both offer daily market commentary and provide forex news from renowned sources like Bloomberg and Reuters, catering well to traders' needs for timely information. An economic calendar, which highlights significant upcoming global news events, is available with both brokers, ensuring that traders are informed about key economic happenings. Additionally, each platform provides a sentiment-based trading tool, highlighting long and short positions across different currency pairs and other financial instruments.
In terms of specialized research tools, HFM and TMGM differ. HFM integrates Autochartist for technical analysis, providing robust support for traders. In contrast, TMGM utilizes Trading Central, offering a different array of analytical tools. Acuity Trading's tools, like the Signal Centre, are available exclusively through TMGM. With these factors in mind, HFM receives a higher research rating of four stars compared to TMGM's 3.5 stars by ForexBrokers.com, ranking HFM at #20 and TMGM at #53 for research out of 62 brokers.
| Feature |
HFM
|
TMGM
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | No | 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 comparing the educational resources for beginners offered by HFM and TMGM, HFM clearly stands out with a comprehensive approach. HFM provides a wealth of resources, including over ten educational pieces such as articles, videos, and archived webinars focusing on forex and CFDs. They host online webinars for clients every month and offer a searchable archive for these sessions, providing an interactive learning platform. Additionally, HFM has designed an array of over ten beginner-friendly videos covering various trading topics, which can be particularly beneficial for those just starting in the trading world. They also cater to advanced traders with more than ten in-depth videos. For terminology, HFM offers a robust investor dictionary with over 50 investing terms, making it easier for budding traders to familiarize themselves with industry jargon. Rated 4 stars, HFM holds a solid position in the market, ranked 37th out of 62 brokers by ForexBrokers.com.
In contrast, TMGM falls short in comparison when it comes to educational offerings for beginners. While they provide a searchable archive of recorded webinars and an investor dictionary with over 50 terms, they lack monthly live educational webinars and do not meet the target of offering at least ten beginner-focused educational videos. Additionally, their materials on advanced trading topics are not as extensive, with fewer than ten available videos. TMGM's education resources earn them a 3.5-star rating and place them at 54th in the education category out of 62 brokers, indicating room for improvement.
| Feature |
HFM
|
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 62 of the best forex brokers, our research and account testing finds that HFM is better than TMGM. HFM finished with an overall rank of #30, while TMGM finished with an overall rank of #37.
Alongside its enhanced MetaTrader offering and quality research, HFM (HF Markets), previously known as HotForex, offers a proprietary copy trading platform, HFcopy, a proprietary HF mobile app, and a decent selection of over 1,000 CFDs and 47 forex pairs. Still, trading costs at HFM are slightly above the industry average.
| Feature |
HFM
|
TMGM
|
|---|---|---|
| Overall Rating |
|
|
| Trust Score | 86 | 83 |
| Range of Investments |
|
|
| Commissions & Fees |
|
|
| Platform & Tools |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
Both HFM and TMGM provide options for trading cryptocurrency derivatives, though neither offers the ability to purchase actual cryptocurrencies.
In comparing the online brokers HFM and TMGM, neither offer ACH or SEPA transfers for account deposits or withdrawals, both provide Skrill, Visa, Mastercard, and bank wire options, but only TMGM supports PayPal transactions.
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.
Select Brokers
↓×Compare
0 of 5| Overall Rating | HFM | TMGM | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platform & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 86 | 83 | |
| Winner | check_circle | ||
| Review | HFM Review | TMGM Review |
| Broker Screenshots | HFM | TMGM | |
|---|---|---|---|
| Trading Platforms Gallery (click to expand) |
|
| |
| Mobile Trading Gallery (click to expand) |
|
| |
| Research Gallery (click to expand) |
|
| |
| Education Gallery (click to expand) |
|
|
| Regulation | HFM | TMGM | |
|---|---|---|---|
| Trust Score | 86 | 83 | |
| Year Founded | 2010 | 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 | 3 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 2 |
| Tier-1 Licenses (Highly Trusted) | HFM | 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) | HFM | TMGM | |
|---|---|---|---|
| Kenya (CMA Authorised) | Yes | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | HFM | TMGM | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 500 | 12000 | |
| Forex Pairs (Total) | 102 | 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 | HFM | 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 | No | No | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | HFM | TMGM | |
|---|---|---|---|
| Minimum Deposit | $0 | $100 | |
| PayPal (Deposit/Withdraw) | No | 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 | HFM | 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 | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | HFM | TMGM | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 7 | |
| Charting - Indicators / Studies (Total) | 15 | 30 | |
| Charting - Drawing Tools (Total) | 30 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | HFM | 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 | 30 | 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 | HFM | TMGM | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | HFM | 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 | HFM | 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 | HFM Review | TMGM Review |
| Overall | HFM | TMGM | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platform & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 86 | 83 | |
| Winner | check_circle | ||
| Review | HFM Review | TMGM Review |
IG
CMC Markets
FOREX.com
XTB
eToro
AvaTrade
Plus500
Pepperstone
FP Markets
Tickmill