Written by ForexBrokers.com
In this head to head comparison of Pepperstone 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.
Pepperstone and TMGM are two prominent names in the online brokerage sphere, each with its own merits. Founded in 2010, Pepperstone holds three Tier-1 licenses and two Tier-2 licenses, showcasing a strong regulatory standing. It boasts a high Trust Score rating of 95 out of 99 according to ForexBrokers.com, indicating it is highly trusted. In contrast, TMGM, established in 2013, is also a non-publicly traded and non-banking entity, but holds two Tier-1 licenses with no Tier-2 licenses. Its Trust Score of 83 signifies a trusted status, but slightly less so than Pepperstone.
Both Pepperstone and TMGM are private and operate independently of any banking affiliations. While neither is publicly traded, their regulatory credentials differ. Pepperstone's multiple Tier-1 and Tier-2 licenses contribute to its higher trust rating, making it a potentially more appealing choice for those who prioritize regulatory assurance. Meanwhile, TMGM's satisfactory Trust Score and Tier-1 licenses provide a trustworthy, albeit marginally lower-ranking, alternative for online trading enthusiasts.
| Feature |
Pepperstone
|
TMGM
|
|---|---|---|
| Year Founded | 2010 | 2013 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 3 | 2 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 2 |
Pepperstone and TMGM are popular online brokers known for their competitive fees, but they cater to different trading styles. Pepperstone offers a Razor account with a commission-based pricing structure and an enticing spread for the EUR/USD pair, averaging 0.10 pips. When considering the commission of 0.70 pips, the total trading cost comes to 0.80 pips, which aligns with industry standards. However, their Standard account, while commission-free, has a higher average spread of 1.1 pips on the same currency pair, making it generally more expensive. Pepperstone is highly rated, with a 4.5-star score for commissions and fees, and holds the #10 spot among 62 brokers according to ForexBrokers.com.
TMGM, on the other hand, boasts competitive commissions with its Edge account, charging just $3.50 per side, or $7 per round trip, along with low spreads and no requotes. Although recent average spread data for the EUR/USD is not publicly available, TMGM's commission structure can be appealing for traders who value a cost-effective approach. They also provide interest-free, Sharia-compliant accounts for Islamic finance customers, but only via the Edge account. TMGM holds a solid 4-star rating for its commissions and fees, ranking it at #36 out of 62 brokers.
Pepperstone and TMGM provide appealing options for traders, each with benefits suited to different trading needs. Pepperstone’s Razor account shines for active traders through potential rebates and varied platforms like TradingView and MetaTrader. Meanwhile, TMGM might attract those looking for a straightforward, commission-based approach with its Edge account. When choosing between these brokers, consider your trading volume and whether you prefer tight spreads or commission-only models. Whether you are a high-volume trader or pursuing commission savings, both brokers present viable options depending on your specific requirements.
| Feature |
Pepperstone
|
TMGM
|
|---|---|---|
| Minimum Deposit | $0 | $100 |
| Average Spread EUR/USD - Standard | 1.00 | N/A |
| All-in Cost EUR/USD - Active | 0.70 | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | 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.
Pepperstone and TMGM both provide traders with a variety of investment options, focusing on forex trading as CFDs or spot contracts. While Pepperstone offers 1,726 tradeable symbols, TMGM significantly surpasses this with 12,000 available symbols. When it comes to forex pairs, Pepperstone provides 65 pairs compared to TMGM's 62. However, neither broker offers the ability to purchase exchange-traded securities on U.S. or international exchanges, meaning clients can't buy shares directly, such as Apple or Vodafone. Both platforms support copy trading, helping traders mirror successful strategies, and they also offer cryptocurrency derivatives, but not actual cryptocurrencies.
In the area of Range of Investments, TMGM edges out Pepperstone slightly, holding a 4.5-star rating compared to Pepperstone’s 4-star rating. Additionally, in a competitive review by ForexBrokers.com, TMGM is ranked #17 out of 62 brokers, placing it ahead of Pepperstone, which ranks at #26. For traders deciding between these two platforms, it's clear that TMGM provides a wider selection of tradeable symbols, whereas Pepperstone offers a slightly broader selection of forex pairs. Both brokers are solid choices for those interested in CFD markets and copy trading.
| Feature |
Pepperstone
|
TMGM
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1726 | 12000 |
| Forex Pairs (Total) | 65 | 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.
Pepperstone and TMGM both offer solid trading platforms and tools suited for traders at any level. They provide simulated trading with free virtual demo accounts, allowing users to practice and hone their skills without financial risk. Both brokers support Windows-based desktop and web-based trading platforms, making it easy to manage trades from any device. Pepperstone stands out with its proprietary platform, while TMGM lacks this feature. The brokers offer copy trading, and both support popular platforms like MetaTrader 4 and MetaTrader 5. However, only Pepperstone offers DupliTrade while neither offers ZuluTrade.
When it comes to charting tools, Pepperstone provides a richer experience with 30 drawing tools compared to TMGM's 15. Both brokers allow direct trading from stock charts and offer the same number of columns for watch lists. The brokers are equally rated with four stars for their trading platforms and tools, yet Pepperstone ranks higher at #22 on ForexBrokers.com compared to TMGM's #48. Both offer practical features and tools for trading, but Pepperstone's additional offerings and higher ranking might give it a slight edge for those looking for a more comprehensive trading platform.
| Feature |
Pepperstone
|
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 | Yes | 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.
Pepperstone and TMGM both provide users with iPhone and Android apps, offering a robust suite of features for mobile trading. Traders with either broker can access stock and forex price alerts, utilize technical studies and trendlines on charts, and view different time frames with ease. Both platforms save chart drawings automatically, ensuring users don't lose their progress. While each broker allows traders to create watchlists with real-time quotes, Pepperstone stands out with its watchlist symbol syncing feature, which synchronizes updates between the mobile app and the client’s online account. TMGM, unfortunately, does not offer this level of integration.
In terms of performance, both brokers boast a rating of 4 out of 5 stars for their mobile trading apps. However, there's a notable difference in how they rank in the industry. Pepperstone holds the 21st position among 62 brokers in the category of Mobile Trading Apps according to ForexBrokers.com, demonstrating a stronger market presence. Meanwhile, TMGM ranks at #47, showing room for improvement. For those prioritizing seamless connectivity between mobile and online trading platforms, Pepperstone may have the edge. Nonetheless, both brokers provide a solid range of tools for traders on the move.
| Feature |
Pepperstone
|
TMGM
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | 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 Pepperstone and TMGM offer a wide range of features for market research, including daily market commentary and forex news from top-tier sources like Bloomberg and Reuters. Each broker has its own strengths; Pepperstone stands out with tools from Autochartist and a sentiment-based trading tool, while TMGM benefits from the analytical resources of Trading Central and Acuity Trading. Both platforms provide useful economic calendars to keep you informed of global news events.
When it comes to overall research quality, Pepperstone leads with a rating of 4.5 stars and is ranked 12th out of 62 brokers for research by ForexBrokers.com. Meanwhile, TMGM holds a 3.5-star rating and is ranked 53rd. This suggests that both brokers offer valuable market insights, though Pepperstone is generally regarded as providing a more comprehensive research experience according to external evaluations.
| Feature |
Pepperstone
|
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 Pepperstone and TMGM for educational resources aimed at beginners, Pepperstone stands out as the better option. Pepperstone provides a comprehensive suite of more than 10 educational pieces, including articles, videos, and archived webinars, focusing on forex and CFDs. They also host monthly live webinars and offer a searchable archive of recorded sessions, catering to those who wish to learn at their own pace. Their platform includes over 10 beginner videos specifically designed to introduce new traders to the essentials of trading, and more advanced videos for experienced traders. These offerings contribute to an impressive education rating of 4.5 out of 5 stars and a notable 17th place ranking in the Education category by ForexBrokers.com.
On the other hand, TMGM offers a more limited range of educational resources for beginners. They do not meet the criteria of providing at least 10 educational pieces focused on forex and CFDs and lack monthly educational webinars for their clients. While TMGM does offer a searchable archive of recorded webinars and provides an investor dictionary with more than 50 terms, their education rating lags at 3.5 stars. This, coupled with their lower ranking of 54th in the Education category, highlights the contrast with Pepperstone's offerings. Overall, for those new to trading, Pepperstone provides a more supportive educational environment.
| Feature |
Pepperstone
|
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 Pepperstone is better than TMGM. Pepperstone finished with an overall rank of #16, while TMGM finished with an overall rank of #37.
Pepperstone offers a growing range of tradeable markets, good-quality research, and support for multiple social copy trading platforms.
| Feature |
Pepperstone
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TMGM
|
|---|---|---|
| Overall Rating |
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| Trust Score | 95 | 83 |
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Both Pepperstone and TMGM do not offer the ability to buy actual (delivered) cryptocurrency, but they do provide options for trading cryptocurrency derivatives.
In comparing the online brokers Pepperstone and TMGM, Pepperstone offers more flexible deposit and withdrawal options, including ACH/SEPA transfers, PayPal, Skrill, Visa/Mastercard, and bank wires, whereas TMGM provides all the same options except for ACH/SEPA transfers.
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.
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0 of 5| Overall Rating | Pepperstone | TMGM | |
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| Trust Score | 95 | 83 | |
| Winner | check_circle | ||
| Review | Pepperstone Review | TMGM Review |
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| Regulation | Pepperstone | TMGM | |
|---|---|---|---|
| Trust Score | 95 | 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 | 3 | 2 | |
| Tier-2 Licenses | 2 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 2 |
| Tier-1 Licenses (Highly Trusted) | Pepperstone | TMGM | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | 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) | Pepperstone | TMGM | |
|---|---|---|---|
| Kenya (CMA Authorised) | Yes | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Pepperstone | TMGM | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1726 | 12000 | |
| Forex Pairs (Total) | 65 | 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 | Pepperstone | TMGM | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.00 | N/A | |
| All-in Cost EUR/USD - Active | 0.70 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | No | Yes | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | Pepperstone | TMGM | |
|---|---|---|---|
| Minimum Deposit | $0 | $100 | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | Pepperstone | 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 | Yes | No | |
| DupliTrade | Yes | No | |
| ZuluTrade | No | No |
| Trading Tools | Pepperstone | 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 | Pepperstone | TMGM | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | 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 | Pepperstone | 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 | Pepperstone | 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 | Pepperstone | 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 | Pepperstone Review | TMGM Review |
| Overall | Pepperstone | TMGM | |
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| Trust Score | 95 | 83 | |
| Winner | check_circle | ||
| Review | Pepperstone Review | TMGM Review |
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