TMGM vs LegacyFX 2025

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.

Regulation

TMGM, established in 2013, and LegacyFX, founded in 2012, are both privately owned online brokers that are not publicly traded or affiliated with any banks. When diving into their regulatory standing, TMGM stands out with a Trust Score of 83 out of 99 from ForexBrokers.com, categorizing it as a trusted broker. It also holds two Tier-1 licenses, which are highly regarded in the industry for ensuring strict regulatory compliance and client fund security.

In contrast, LegacyFX holds a Trust Score of 67, placing it in the higher risk category. It possesses one Tier-1 license but lacks any Tier-2 licenses, which denotes a narrower focus on regulation compared to TMGM. Both firms provide trading services, yet TMGM's regulatory credentials and higher trust rating might offer clients more peace of mind when choosing an online broker.

Feature	TMGM	LegacyFX
Year Founded info	2013	2012
Publicly Traded (Listed) info	No	No
Bank info	No	No
Tier-1 Licenses info	2	1
Tier-2 Licenses info	0	0
Tier-3 Licenses info	0	0
Tier-4 Licenses info	2	1

Fees

TMGM tends to be the lower-cost choice for active traders thanks to its commission-based Edge account, while LegacyFX leans on spread-based pricing that can get expensive on entry-level tiers. Transparency is mixed: both brokers currently lack published average spread data for the EUR/USD, making precise cost comparisons harder. Ratings and rankings reflect this picture: TMGM earns 4/5 stars and ranks #37 out of 63 for Commissions and Fees, whereas LegacyFX earns 3.5/5 stars and ranks #58 out of 63 (ForexBrokers.com).

TMGM’s pricing depends on account type. The Classic account is spread-only, while the Edge account adds a small commission of $3.50 per side ($7 round trip) paired with typically low spreads and no requotes. For swap-free (Islamic) trading, customers must use the Edge account, since the Classic option doesn’t offer a swap-free version.

LegacyFX’s costs vary by entity and account tier. In the EU (CySEC), there are Silver, Gold, and Platinum accounts with minimum deposits of $500, $5,000, and $25,000; spreads are tightest on Platinum and wider on Silver, where the EUR/USD minimum spread can start from 1.6 pips. Internationally (Vanuatu), seven account tiers run from $500 to $50,000, with higher tiers unlocking more support and tools. However, LegacyFX does not publish average spreads, so judging true, all-in costs remains challenging.

Feature	TMGM	LegacyFX
Minimum Deposit info	$100	$500
Average spread (EUR/USD) - Standard account info	N/A info	N/A
All-in Cost EUR/USD - Active info	N/A info	N/A
Non-wire bank transfer info	No	No
PayPal (Deposit/Withdraw) info
Skrill (Deposit/Withdraw) info
Bank Wire (Deposit/Withdraw) info

Dive deeper: Best Low Spread Forex Brokers.

Range of investments

TMGM vs LegacyFX: When it comes to the range of investments, both brokers support forex trading (CFD or spot), offer copy trading, and provide access to cryptocurrency CFDs—but neither lets you buy actual crypto or exchange-traded shares on U.S. or international stock exchanges. TMGM lists about 12,000 tradeable symbols and 62 forex pairs, while LegacyFX offers around 425 symbols and 44 forex pairs.

Based on breadth, TMGM has the edge: it earns 4.5 out of 5 stars for Range of Investments and ranks #18 out of 63 brokers on ForexBrokers.com. LegacyFX scores 3.5 stars and ranks #49. If you want more markets and forex pairs under one roof, TMGM is the stronger pick; if you prefer a smaller lineup, LegacyFX may suit your needs.

Feature	TMGM	LegacyFX
Forex Trading (Spot or CFDs) info	Yes	Yes
Tradeable Symbols (Total) info	12000	425
Forex Pairs (Total) info	62	44
U.S. Stocks (Shares) info	No	No
Global Stocks (Non-U.S. Shares) info	No	No
Copy Trading info	Yes	Yes
Cryptocurrency (Underlying) info	No	No
Cryptocurrency (CFDs) 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).

Dive deeper: Best Copy Trading Platforms.

Trading platforms and tools

TMGM and LegacyFX both make it easy to get started with a free demo (paper) trading account and offer the essentials: Windows desktop and web-based platforms, copy trading, and the ability to place trades straight from charts. Neither broker has its own proprietary platform. The standout difference is platform choice: TMGM supports both MetaTrader 4 (MT4) and MetaTrader 5 (MT5), while LegacyFX supports MT5 but not MT4—important if you rely on MT4 tools or custom indicators.

For trading platforms and tools, TMGM is rated 4 stars and ranks #49 out of 63 brokers on ForexBrokers.com, while LegacyFX earns 3.5 stars and ranks #61. Indicator counts and watchlist field details aren’t specified by either broker. If you need MT4, TMGM is the clear fit; if you only need MT5, both TMGM and LegacyFX cover the basics with web and desktop access, copy trading, and chart-based order entry.

Feature	TMGM	LegacyFX
Virtual Trading (Demo) info	Yes	Yes
Proprietary Desktop Trading Platform info	No	No
Desktop Platform (Windows) info	Yes	Yes
Web Platform info	Yes	Yes
Copy Trading info	Yes	Yes
MetaTrader 4 (MT4) info	Yes	No
MetaTrader 5 (MT5) info	Yes	Yes
Charting - Indicators / Studies (Total) info	30	30
Charting - Trade From Chart info	Yes	Yes

Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.

Forex trading apps

TMGM and LegacyFX both offer mobile trading apps for iPhone and Android, with helpful price alerts to keep you on top of market moves. Their charting features are similar: each provides 30 technical studies, the ability to draw trendlines, and auto-saving for chart drawings so your work isn’t lost. One notable gap for both brokers is watchlist symbol syncing—changes made on mobile won’t sync with your online account watchlists.

When it comes to ratings, TMGM earns 4 out of 5 stars for Mobile Trading Apps, while LegacyFX scores 3.5 out of 5. In ForexBrokers.com’s rankings out of 63 brokers, TMGM places at #48 and LegacyFX at #62. If you want slightly higher-rated mobile performance, TMGM has the edge, but for core app features like alerts and charting tools, both platforms are closely matched.

Feature	TMGM	LegacyFX
Android App info	Yes	Yes
Apple iOS App info	Yes	Yes
Mobile Price Alerts info	Yes	Yes
Mobile Watchlists - Syncing info	No	No
Mobile Charting - Indicators / Studies info	30	30
Mobile Charting - Draw Trendlines info	Yes	Yes
Mobile Charting - Trendlines Autosave info	Yes	Yes

Dive deeper: Best Forex Trading Apps.

Market research

Comparing TMGM vs LegacyFX for market research: both brokers provide daily market commentary, an economic calendar, and forex news from top-tier sources such as Bloomberg, Reuters, or Dow Jones. Each earns 3.5 out of 5 stars for Research, though ForexBrokers.com ranks LegacyFX higher (#47 of 63) than TMGM (#54 of 63).

The toolsets differ. TMGM offers Trading Central, a sentiment-based trading gauge, and research from Acuity Trading (e.g., Signal Centre), but not Autochartist or TipRanks. LegacyFX includes Autochartist and does not list Trading Central or a sentiment tool; access to TipRanks or Acuity Trading was not specified. Pick LegacyFX if you want Autochartist’s pattern detection; choose TMGM if you value Trading Central insights and sentiment data alongside Acuity-powered research.

Feature	TMGM	LegacyFX
Daily Market Commentary (Articles) info	Yes	Yes
Forex News (Top-Tier Sources) info	Yes	Yes
Autochartist info	No	Yes
Trading Central info	Yes	No
Client sentiment data info	Yes	No
TipRanks info	No
Acuity Trading info	Yes
Economic Calendar info	Yes	Yes

Dive deeper: Best Brokers for Forex Research.

Beginners and education

For beginner traders comparing education, both TMGM and LegacyFX hold a 3.5-star Education score from ForexBrokers.com, but LegacyFX ranks higher (#35 of 63) than TMGM (#54). LegacyFX stands out for newcomers thanks to ongoing monthly webinars and a larger set of beginner video lessons (10+). TMGM does not run monthly webinars and does not meet the 10+ beginner video mark, which can make getting started more self-directed.

LegacyFX also offers 10+ advanced trading videos, giving you room to grow from basics to more detailed forex and CFD topics. TMGM doesn’t meet the 10+ advanced video threshold, so its video path is slimmer. If live instruction and a deeper video library matter for your forex and CFD education, LegacyFX is the stronger pick, while TMGM may suit those who only need a simple introduction.

Feature	TMGM	LegacyFX
Webinars info	No	Yes
Videos - Beginner Trading Videos info	No	Yes
Videos - Advanced Trading Videos info	No	Yes

Dive deeper: Best Forex Brokers for Beginners.

Winner

After testing 63 of the best forex brokers, our research and account testing finds that TMGM is better than LegacyFX. TMGM finished with an overall rank of #37, while LegacyFX finished with an overall rank of #63.

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.

Feature	TMGM	LegacyFX
Overall Rating info
Trust Score info	83	67
Range of Investments
Commissions & Fees
Platforms & Tools
Research
Mobile Trading
Education

FAQs

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Overall Rating	TMGM	LegacyFX
Overall Rating info
Commissions & Fees
Range of Investments
Platforms & Tools
Mobile Trading
Research
Education
Trust Score info	83	67
Winner	check_circle
Review	TMGM Review	LegacyFX Review

Broker Screenshots	TMGM	LegacyFX
Broker Gallery (click to expand) info

Regulation	TMGM	LegacyFX
Trust Score info	83	67
Year Founded info	2013	2012
Publicly Traded (Listed) info	No	No
Bank info	No	No
Regulated in one or more EU or EEA countries (MiFID). info	No info	Yes info
Tier-1 Licenses info	2	1
Tier-2 Licenses info	0	0
Tier-3 Licenses info	0	0
Tier-4 Licenses info	2	1

Tier-1 Licenses (Highly Trusted)	TMGM	LegacyFX
Australia (ASIC Authorised) info	Yes	No
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
United Kingdom (U.K.) (FCA Authorised) info	No	No
USA (CFTC Authorized) info	No	No
New Zealand (FMA Authorised) info	Yes	No
Regulated in one or more EU or EEA countries (MiFID). info	No info	Yes info

Tier-2 Licenses (Trusted)	TMGM	LegacyFX
Kenya (CMA Authorised) info
Israel (ISA Authorised) info	No	No
South Africa (FSCA Authorised) info	No	No
UAE (DFSA, FSRA, or SCA Authorised) info	No	No
India (SEBI Authorised) info	No	No
Jordan (JSC Authorised) info

Investments	TMGM	LegacyFX
Forex Trading (Spot or CFDs) info	Yes	Yes
Tradeable Symbols (Total) info	12000	425
Forex Pairs (Total) info	62	44
U.S. Stocks (Shares) info	No	No
Global Stocks (Non-U.S. Shares) info	No	No
Copy Trading info	Yes	Yes
Cryptocurrency (Underlying) info	No	No
Cryptocurrency (CFDs) 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	TMGM	LegacyFX
Average spread (EUR/USD) - Standard account info	N/A info	N/A
All-in Cost EUR/USD - Active info	N/A info	N/A
Inactivity Fee info	Yes	No
Order execution: Agency info	Yes	No
Order execution: Market Maker info	Yes	Yes

Funding	TMGM	LegacyFX
Minimum Deposit info	$100	$500
PayPal (Deposit/Withdraw) info
Skrill (Deposit/Withdraw) info
Bank Wire (Deposit/Withdraw) info
Non-wire bank transfer info	No	No

Trading Platforms	TMGM	LegacyFX
Proprietary Desktop Trading Platform info	No	No
Desktop Platform (Windows) info	Yes	Yes
Web Platform info	Yes	Yes
Copy Trading info	Yes	Yes
MetaTrader 4 (MT4) info	Yes	No
MetaTrader 5 (MT5) info	Yes	Yes
cTrader info	No	No

Trading Tools	TMGM	LegacyFX
Virtual Trading (Demo) info	Yes	Yes
Price Alerts info	Yes	Yes
Charting - Indicators / Studies (Total) info	30	30
Charting - Trade From Chart info	Yes	Yes
Charts can be saved info	Yes	Yes

Mobile Trading	TMGM	LegacyFX
Android App info	Yes	Yes
Apple iOS App info	Yes	Yes
Mobile Price Alerts info	Yes	Yes
Mobile Watchlist [DELETED] info
Mobile Watchlists - Syncing info	No	No
Mobile Charting - Indicators / Studies info	30	30
Mobile Charting - Draw Trendlines info	Yes	Yes
Mobile Charting - Trendlines Autosave info	Yes	Yes
Mobile Research - Economic Calendar info	Yes	Yes

Research	TMGM	LegacyFX
Daily Market Commentary (Articles) info	Yes	Yes
Forex News (Top-Tier Sources) info	Yes	Yes
Autochartist info	No	Yes
Trading Central info	Yes	No
TipRanks info	No
Client sentiment data info	Yes	No
Economic Calendar info	Yes	Yes

Education	TMGM	LegacyFX
Webinars info	No	Yes
Videos - Beginner Trading Videos info	No	Yes
Videos - Advanced Trading Videos info	No	Yes

Major Forex Pairs	TMGM	LegacyFX
GBP/USD [DELETED] info
USD/JPY [DELETED] info
EUR/USD info	Yes	Yes
USD/CHF [DELETED] info
USD/CAD [DELETED] info
NZD/USD [DELETED] info
AUD/USD [DELETED] info
Review	TMGM Review	LegacyFX Review

Overall	TMGM	LegacyFX
Overall Rating info
Commissions & Fees
Range of Investments
Platforms & Tools
Mobile Trading
Research
Education
Trust Score info	83	67
Winner	check_circle
Review	TMGM Review	LegacyFX Review