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HFM vs TMGM 2024

ForexBrokers.com

Written by ForexBrokers.com

August 05, 2024

Is HFM better than TMGM? In our analysis of 23 international regulators across 62 of the best forex brokers, HotForex is considered Trusted, with an overall Trust Score of 86 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

2 of 5
Overall Rating HFM TMGM
Overall Rating info 4/5 Stars 4/5 Stars
Commissions & Fees 4/5 Stars 4/5 Stars
Offering of Investments 4/5 Stars 4.5/5 Stars
Platform & Tools 4/5 Stars 4/5 Stars
Mobile Trading 4/5 Stars 4/5 Stars
Research 4/5 Stars 3.5/5 Stars
Education 3.5/5 Stars 3.5/5 Stars
Trust Score info 86 83
Winner check_circle
Review HFM Review TMGM Review
Broker Screenshots HFM 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 HFM TMGM
Trust Score info 86 83
Year Founded info 2010 2013
Publicly Traded (Listed) info No No
Bank info No No
Regulated in one or more EU or EEA countries (MiFID). info Yes info No info
Tier-1 Licenses info 2 2
Tier-2 Licenses info 3 0
Tier-3 Licenses info 0 0
Tier-4 Licenses info 2 2
Tier-1 Licenses (Highly Trusted) HFM TMGM
Australia (ASIC Authorised) info No Yes
Canada (CIRO Authorised) info No 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) HFM TMGM
Kenya (CMA Authorised) info Yes No
Israel (ISA Authorised) info No No
South Africa (FSCA Authorised) info Yes No
UAE (DFSA/Central Bank Authorised) info Yes No
India (SEBI Authorised) info No No
Jordan (JSC Authorised) info No No
Investments HFM TMGM
Forex Trading (Spot or CFDs) info Yes Yes
Tradeable Symbols (Total) info 500 12000
Forex Pairs (Total) info 102 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 HFM TMGM
Average Spread EUR/USD - Standard info 1.2 info N/A info
All-in Cost EUR/USD - Active info 0.7 info N/A info
Active Trader or VIP Discounts info No No
Inactivity Fee info Yes Yes
Execution: Agency Broker info No Yes
Execution: Market Maker info Yes Yes
Funding HFM TMGM
Minimum Deposit info $0 $100
PayPal (Deposit/Withdraw) info No 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 No No
Trading Platforms HFM 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 Yes Yes
cTrader info No No
DupliTrade info No No
ZuluTrade info No No
Trading Tools HFM TMGM
Virtual Trading (Demo) info Yes Yes
Alerts - Basic Fields info Yes Yes
Watchlists - Total Fields info 7 7
Charting - Indicators / Studies (Total) info 15 30
Charting - Drawing Tools (Total) info 30 15
Charting - Trade From Chart info Yes Yes
Charts can be saved info Yes Yes
Mobile Trading HFM 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 No No
Mobile Charting - Indicators / Studies info 30 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 HFM TMGM
Daily Market Commentary info Yes Yes
Forex News (Top-Tier Sources) info Yes Yes
Autochartist info Yes No
Trading Central (Recognia) info No Yes
TipRanks info No No
Social Sentiment - Currency Pairs info Yes Yes
Economic Calendar info Yes Yes
Education HFM 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 HFM 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 HFM Review TMGM Review
Overall HFM TMGM
Overall Rating info 4/5 Stars 4/5 Stars
Commissions & Fees 4/5 Stars 4/5 Stars
Offering of Investments 4/5 Stars 4.5/5 Stars
Platform & Tools 4/5 Stars 4/5 Stars
Mobile Trading 4/5 Stars 4/5 Stars
Research 4/5 Stars 3.5/5 Stars
Education 3.5/5 Stars 3.5/5 Stars
Trust Score info 86 83
Winner check_circle
Review HFM Review TMGM Review
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HFM 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 HFM vs TMGM.

Can I trust HFM?

HotForex is not publicly traded and does not operate a bank. HotForex is authorised by two Tier-1 regulators (Highly Trusted), Three tier-2 regulators (Trusted), zero Tier-3 regulators (Average Risk), and one Tier-4 regulator (High Risk). HotForex is authorised by the following Tier-1 regulator: Financial Conduct Authority (FCA) 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 HFM good?

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.

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 HFM?

To open a trading account with HFM, you'll need to make an initial minimum deposit of $0.

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. HFM offers Visa/Mastercard (Credit/Debit), Bank Wire (Deposit/Withdraw), Skrill (Deposit/Withdraw) and Neteller (Deposit/Withdraw) for banking, whereas TMGM provides Visa/Mastercard (Credit/Debit), Bank Wire (Deposit/Withdraw), PayPal (Deposit/Withdraw), Skrill (Deposit/Withdraw) and Neteller (Deposit/Withdraw).

Does HFM 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 HFM 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 HFM 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 Both HFM and TMGM hold 2 global Tier-1 licenses. HFM holds 3 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 HFM (86) earned a higher Trust Score than TMGM (83).

Which trading platform is better: HFM or TMGM?

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

Here’s what trading platforms are available at HFM:

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

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

What can I trade with each broker?

HFM provides traders 102 currency pairs (e.g., EUR/USD) compared to TMGM's 62 available pairs. If you are interested in trading a full range of securities, TMGM offers traders access to 12000 tradeable symbols, while HFM offers access to 500 tradeable symbols; so TMGM offers 11500 more tradeable symbols than HFM.

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

Overall winner: HFM

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announcementPlease 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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