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 have unique offerings. HFM's trading costs slightly exceed the industry average, with a typical spread of 1.2 pips for standard accounts, although this figure isn't time-bound, so actual spreads may be higher. For those interested in the Zero account, the effective spread is 0.7 pips after considering commissions, but it's worth noting that these figures do not represent an average.
TMGM, on the other hand, provides competitive commission structures, particularly through its Edge account. This account features low spreads and a small commission fee of $3.50 per side ($7 per round trip), though it's unclear what the average spread for popular pairs like the EUR/USD currently is. TMGM's Edge account also stands out for its suitability for Islamic finance customers, offering Swap-free accounts—a feature not available with their Classic account option.
In terms of rankings, both brokers are rated at 4 stars for their commission and fee structures. When ranked among 63 other brokers by ForexBrokers.com, HFM holds the 31st position, while TMGM slightly lags behind at 36th. Both options present strengths, but understanding these nuances can help traders choose the most suitable platform for their needs.
| 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 comparing the investment offerings of HFM and TMGM, there are several factors to consider. Both brokers allow forex trading through CFDs, providing diverse opportunities for traders interested in this market. However, TMGM offers an extensive array of tradeable symbols, boasting a total of 12,000 compared to HFM's 500. Despite this difference, HFM offers a wider variety of tradeable forex pairs with 102 options, whereas TMGM provides 62 pairs. Neither broker supports the trading of actual cryptocurrencies, focusing instead on cryptocurrency derivatives. Additionally, neither offers exchange-traded securities on U.S. or international exchanges, meaning clients can't directly buy shares like Apple or Vodafone.
For traders interested in copy trading, both HFM and TMGM offer this feature. In terms of overall investment range, TMGM edges out HFM with a higher rating of 4.5 stars compared to HFM's 4 stars. This advantage is reflected in TMGM's higher ranking in the Range of Investments category on ForexBrokers.com, where it holds the 17th spot out of 63 brokers, while HFM ranks 36th. As you weigh these brokers' offerings, consider not only the number of tradeable instruments but also your specific trading goals and preferences.
| 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 trading platforms and tools offered by HFM and TMGM, both brokers provide a solid array of options for traders. HFM takes the lead with its proprietary trading platform, developed in-house, which TMGM does not offer. Both brokers do provide the well-known MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, along with copy trading features and the ability to trade directly from stock charts. Desktop and web-based platforms are available through each broker, catering to a variety of trader preferences. Simulated trading via virtual demo accounts is also a shared feature, making both great choices for practice before diving into live markets.
In terms of charting tools, HFM steps ahead with 30 drawing tools compared to TMGM's 15, though both brokers provide 7 watch list columns. While neither supports DupliTrade or ZuluTrade, they maintain competitive features within their platforms. Each broker earns a 4-star rating for their platforms and tools, with HFM ranked slightly higher at #42 compared to TMGM's #48 on ForexBrokers.com. Overall, both HFM and TMGM offer comprehensive trading platforms suited to different needs but with slight differences that might sway traders based on personal priorities.
| 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.
For traders seeking an efficient mobile trading experience, both HFM and TMGM provide comprehensive trading apps for iPhone and Android users. Each platform delivers essential features like price alerts for stocks and forex, the ability to draw trendlines, and access to multiple time frames. Both apps also support creating watchlists with real-time quotes. Despite these similarities, neither platform offers watchlist symbol syncing between mobile and online accounts, which could be a setback for those who frequently switch between devices.
In terms of technical capabilities, each app boasts 30 technical studies for insightful chart analysis, and automatically saves drawings on charts. Although both HFM and TMGM receive an equal mobile app rating of four out of five stars, HFM slightly outranks TMGM, securing the 39th position, compared to TMGM’s 47th, in a review by ForexBrokers.com among 63 brokers. This distinction might influence those who are deciding based on platform rankings. Regardless, both brokers provide strong mobile trading options suited for a range of investing needs.
| 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.
Both HFM and TMGM provide daily market commentary, making it easy for traders to stay informed. They also offer forex news from top-tier sources like Bloomberg and Reuters. While HFM utilizes tools from Autochartist for technical and fundamental analysis, TMGM opts to use resources from Trading Central. This difference showcases HFM's focus on unique market insights versus TMGM's reliance on established analytics. Additionally, both brokers provide sentiment-based trading tools that indicate the ratio of long to short positions across various currency pairs, as well as economic calendars that display significant global news events.
Despite several similarities, notable distinctions between the two brokers reflect in their ratings and rankings. HFM has received a 4-star rating for research compared to TMGM's 3.5 stars. Furthermore, HFM is ranked 20th by ForexBrokers.com out of 63 brokers in the research category, while TMGM is placed at 53rd. One reason for HFM's higher standing could be its integration of Autochartist's specialized analysis tools, which TMGM lacks, though TMGM does incorporate Acuity Trading's resources to enhance its research offerings. These factors contribute to differences in the overall research experience for traders using these platforms.
| 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 it comes to educational resources for beginners in trading, HFM appears to have the upper hand compared to TMGM. HFM provides a wide range of educational materials, including more than 10 pieces focused on forex and CFDs, alongside regular monthly webinars. This extensive offering is complemented by a searchable archive of past webinars, making it easier for newcomers to learn at their own pace. HFM also scores well with over 10 beginner-targeted videos and an extensive dictionary explaining more than 50 investing terms.
On the other hand, TMGM's educational offerings are more limited. Despite having a searchable webinar archive and an investor dictionary similar to HFM's, TMGM falls short in providing beginner-focused content. The lack of regular webinars and beginner videos may leave new traders searching for additional resources elsewhere. In educational ratings, HFM holds a slight advantage, scoring 4 stars and ranking #37, whereas TMGM is rated at 3.5 stars and ranked #54 out of 63 brokers, highlighting HFM's clearer edge in supporting novice traders.
| 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 63 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 |
|
|
| Platforms & 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 |
|
| |
| Platforms & 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 |
|
| |
| Platforms & 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