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TMGM vs OctaFX 2023

ForexBrokers.com

Written by ForexBrokers.com

August 29, 2023

Is TMGM better than OctaFX? In our analysis of 23 international regulators across 62 of the best forex brokers, TMGM is considered Trusted, with an overall Trust Score of 83 out of 99. OctaFX is considered Average-Risk, with an overall Trust Score of 70 out of 99. Learn more about Trust Score.

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Overall Rating TMGM OctaFX
Overall Rating info 4/5 Stars 4/5 Stars
Commissions & Fees 4/5 Stars 4/5 Stars
Offering of Investments 5/5 Stars 3.5/5 Stars
Platform & Tools 4/5 Stars 4/5 Stars
Mobile Trading 4/5 Stars 4/5 Stars
Research 3.5/5 Stars 4/5 Stars
Education 4.5/5 Stars 3.5/5 Stars
Trust Score info 83 70
Winner check_circle
Review TMGM Review OctaFX Review
Broker Screenshots TMGM OctaFX
Trading Platforms Gallery (click to expand) info
TMGM MetaTrader4 desktop trading platformzoom_in TMGM MetaTrader4 desktop trading platform chartszoom_in TMGM MetaTrader4 desktop trading platform signals marketzoom_in TMGM MetaTrader4 desktop trading platform watchlistzoom_in TMGM MetaTrader4 web platformzoom_in TMGM client dashboard loginzoom_in
OctaFX OctaTrader web platform.zoom_in OctaFX Social Copy Trading web.zoom_in OctaFX social copy trading example strategy.zoom_in OctaFX social copy Trading Legend traders.zoom_in OctaFX copy trading strategy provider benefitszoom_in OctaFX market newszoom_in OctaFX market news update article detailzoom_in OctaFX MetaTrader 5 MT5 desktop platform.zoom_in OctaFX MT5 charts.zoom_in OctaFX-MetaTrader-5-MT5-forex-news-headlines.zoom_in OctaFX MetaTrader 5 desktop trading platform watchlistzoom_in
Mobile Trading Gallery (click to expand) info
TMGM MetaTrader 4 MT4 mobile appzoom_in TMGM MetaTrader 4 MT4 mobile appzoom_in TMGM MetaTrader 4 MT4 mobile app chartszoom_in TMGM MetaTrader 4 MT4 mobile app trade ticketzoom_in TMGM MetaTrader 4 MT4 app forex news headlineszoom_in
OctaFX MetaTrader 5 trading app watchlistzoom_in OctaFX MetaTrader 5 trading economic calendar eventszoom_in OctaFX MetaTrader 5 trading app forex news headlineszoom_in OctaFX MetaTrader 5 trading app forex news detailszoom_in OctaFX MetaTrader 5 trading app economic calendar event detailzoom_in
Research Gallery (click to expand) info
TMGM research daily market commentaryzoom_in TMGM client dashboard research Trading Central TC Market Buzz newszoom_in TMGM client dashboard research Trading Central TC Economic Insights economic calendarzoom_in TMGM client dashboard research Trading Central Featured Ideas newszoom_in TMGM client dashboard research Trading Central Analyst Views newszoom_in TMGM MetaTrader4 desktop trading platform news headlineszoom_in
OctaFX research section webzoom_in OctaFX research technical analysis articlezoom_in OctaFX YouTube webinar livestreamszoom_in OctaFX research world interest rate trackerzoom_in OctaFX education webinars YouTube playlist.zoom_in OctaFX education webinars.zoom_in
Education Gallery (click to expand) info
TMGM learning center academy educational courseszoom_in TMGM learning center academy educational advanced course quizzoom_in TMGM learning center academy educational beginner courses progress trackingzoom_in TMGM learning center academy educational advanced course quiz resultszoom_in TMGM learning center academy educational intermediate courses progress trackingzoom_in TMGM YouTube webinars Trade View post pandemic trading strategies videozoom_in TMGM YouTube webinars Trade View post pandemic trading strategieszoom_in
OctaFX educational articleszoom_in OctaFX FX YouTube channel archived webinarszoom_in OctaFX YouTube channelzoom_in OctaFX YouTube channelzoom_in
Regulation TMGM OctaFX
Trust Score info 83 70
Year Founded info 2013 2011
Publicly Traded (Listed) info No No
Bank info No No
European Union Authorised (MiFID) info No info Yes info
Tier-1 Licenses info 2 1
Tier-2 Licenses info 0 1
Tier-3 Licenses info 0 0
Tier-4 Licenses info 2 0
Tier-1 Licenses (Highly Trusted) TMGM OctaFX
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 No No
United Kingdom (U.K.) (FCA Authorised) info No No
USA (CFTC Authorized) info No No
New Zealand (FMA Authorised) info Yes No
European Union Authorised (MiFID) info No info Yes info
Tier-2 Licenses (Trusted) TMGM OctaFX
Kenya (CMA Authorised) info No No
Israel (ISA Authorised) info No No
South Africa (FSCA Authorised) info No Yes
UAE (DFSA/Central Bank Authorised) info No No
India (SEBI Authorised) info No No
Jordan (JSC Authorised) info No No
Investments TMGM OctaFX
Forex Trading (Spot or CFDs) info Yes Yes
Tradeable Symbols (Total) info 12000 229
Forex Pairs (Total) info 62 40
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 TMGM OctaFX
Average Spread EUR/USD - Standard info 0.96 info 0.9 info
All-in Cost EUR/USD - Active info 0.76 info N/A
Active Trader or VIP Discounts info Yes No
Inactivity Fee info Yes No
Execution: Agency Broker info Yes Yes
Execution: Market Maker info Yes Yes
Funding TMGM OctaFX
Minimum Deposit info $100 $25
PayPal (Deposit/Withdraw) info No No
Skrill (Deposit/Withdraw) info Yes Yes
Visa/Mastercard (Credit/Debit) info Yes Yes
Bank Wire (Deposit/Withdraw) info Yes Yes
Trading Platforms TMGM OctaFX
Proprietary Platform info No Yes
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 No Yes
cTrader info No No
DupliTrade info No No
ZuluTrade info No No
Trading Tools TMGM OctaFX
Virtual Trading (Demo) info Yes Yes
Alerts - Basic Fields info Yes Yes
Watchlists - Total Fields info 7 7
Charting - Indicators / Studies (Total) info 30 30
Charting - Drawing Tools (Total) info 15 15
Charting - Trade From Chart info Yes Yes
Charts can be saved info Yes Yes
Mobile Trading TMGM OctaFX
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 No Yes
Forex Calendar info Yes Yes
Research TMGM OctaFX
Daily Market Commentary info Yes Yes
Forex News (Top-Tier Sources) info Yes Yes
Autochartist info No Yes
Trading Central (Recognia) info Yes No
Social Sentiment - Currency Pairs info Yes No
Economic Calendar info Yes Yes
Education TMGM OctaFX
Education (Forex or CFDs) info Yes Yes
Client Webinars info Yes Yes
Client Webinars (Archived) info Yes Yes
Videos - Beginner Trading Videos info No Yes
Videos - Advanced Trading Videos info No Yes
Investor Dictionary (Glossary) info Yes Yes
Major Forex Pairs TMGM OctaFX
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 TMGM Review OctaFX Review
Overall TMGM OctaFX
Overall Rating info 4/5 Stars 4/5 Stars
Commissions & Fees 4/5 Stars 4/5 Stars
Offering of Investments 5/5 Stars 3.5/5 Stars
Platform & Tools 4/5 Stars 4/5 Stars
Mobile Trading 4/5 Stars 4/5 Stars
Research 3.5/5 Stars 4/5 Stars
Education 4.5/5 Stars 3.5/5 Stars
Trust Score info 83 70
Winner check_circle
Review TMGM Review OctaFX Review
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TMGM vs OctaFX 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 TMGM vs OctaFX.

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).

Can I trust OctaFX?

OctaFX is not publicly traded and does not operate a bank. OctaFX is authorised by one Tier-1 regulator (high trust), one Tier-2 regulator (average trust), zero Tier-3 regulators (low trust), and zero Tier-4 regulators (High Risk). OctaFX is authorised by the following tier-1 regulators: European Union via MiFID.

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.

Is OctaFX good?

OctaFX offers a basic, low-cost MetaTrader platform experience alongside its social copy-trading platform.

What is the minimum deposit requirement for opening an account with TMGM?

To open a forex trading account with TMGM, you'll need to make an initial minimum deposit of $100.

What is the minimum deposit requirement for opening an account with OctaFX?

TMGM requires a minimum deposit of $25 before you can open an account and start trading forex.

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. Both TMGM and OctaFX offer Visa/Mastercard (Credit/Debit), Bank Wire (Deposit/Withdraw), Skrill (Deposit/Withdraw) and Neteller (Deposit/Withdraw). Neither have PayPal (Deposit/Withdraw)

Does TMGM or OctaFX 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 OctaFX 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 TMGM or OctaFX safer for forex and CFDs trading?

At ForexBrokers.com, we track over 100 international regulatory agencies to help you choose the most 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 TMGM holds 2 global Tier-1 licenses, while OctaFX holds 1. OctaFX holds 1 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 TMGM (83) earned a higher Trust Score than OctaFX (70).

Which trading platform is better: TMGM or OctaFX?

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

Here’s what trading platforms are available at TMGM:

  • Proprietary Platform - No
  • Web Platform - Yes
  • cTrader - No
  • DupliTrade - No
  • MT4 - Yes
  • MT5 - No
  • ZuluTrade - No
  • TradingView - No
TMGM MetaTrader4 desktop trading platformzoom_in TMGM MetaTrader4 desktop trading platform chartszoom_in TMGM MetaTrader4 desktop trading platform signals marketzoom_in TMGM MetaTrader4 desktop trading platform watchlistzoom_in TMGM MetaTrader4 web platformzoom_in TMGM client dashboard loginzoom_in

Here’s what trading platforms are available at OctaFX:

  • Proprietary Platform - Yes
  • Web Platform - Yes
  • cTrader - No
  • DupliTrade - No
  • MT4 - Yes
  • MT5 - Yes
  • ZuluTrade - No
  • TradingView - No
OctaFX OctaTrader web platform.zoom_in OctaFX Social Copy Trading web.zoom_in OctaFX social copy trading example strategy.zoom_in OctaFX social copy Trading Legend traders.zoom_in OctaFX copy trading strategy provider benefitszoom_in OctaFX market newszoom_in OctaFX market news update article detailzoom_in OctaFX MetaTrader 5 MT5 desktop platform.zoom_in OctaFX MT5 charts.zoom_in OctaFX-MetaTrader-5-MT5-forex-news-headlines.zoom_in OctaFX MetaTrader 5 desktop trading platform watchlistzoom_in

What about MetaTrader? How about copy trading?

The MetaTrader trading platform suite is wildly popular among forex and CFD traders across the globe. Both TMGM and OctaFX offer MetaTrader 4 (MT4). Forex traders also appreciate the ability to engage in social copy trading. TMGM and OctaFX both offer copy trading.

What can I trade with each broker?

TMGM provides traders 62 currency pairs (e.g., EUR/USD) compared to OctaFX's 40 available pairs. If you are interested in trading CFDs, TMGM offers traders access to 12000 CFDs, while OctaFX offers access to 229 CFDs; so TMGM offers 11771 more CFDs than OctaFX.

We found in our testing that OctaFX offers a more diverse selection of investment options than TMGM, 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: TMGM

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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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