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 two notable online brokers offering various account options tailored to different trading styles and volumes. Pepperstone stands out with its Razor account, which is popular among high-volume traders due to its competitive pricing structure that partners well with the Active Trader program. The Razor account adheres to a commission-based model with an average EUR/USD spread of 0.10 pips and a commission-equivalent of 0.70 pips, culminating in an industry-average all-in cost of 0.80 pips. In comparison, Pepperstone's commission-free Standard account records a higher average spread of 1.1 pips on the EUR/USD.
For active traders, Pepperstone offers rebates that improve with trading volume. Professional clients in the UK, EU, and Australia can benefit from tiered rebates, making this broker particularly appealing for those engaged in high-frequency trading. Pepperstone has been rated 4.5 stars out of 5 for commissions and fees and is ranked 10th among 63 brokers by ForexBrokers.com in this category.
TMGM, on the other hand, offers competitive edge with its Edge account, which maintains low spreads and charges a modest commission of $3.50 per side ($7 round trip), without requotes. TMGM's trading costs vary according to the account type chosen, with the Classic account being spread-only and the Edge account being commission-based. Islamic finance customers have the option for swap-free accounts under the Edge account. With a rating of 4 stars out of 5 for commissions and fees, TMGM is ranked 36th out of 63 brokers by ForexBrokers.com for their pricing.
| 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 offer a wide array of investment options, providing forex trading through CFDs or spot contracts. While Pepperstone offers 1,726 tradeable symbols compared to TMGM's impressive 12,000, Pepperstone supports slightly more forex pairs at 65, compared to TMGM's 62. Neither platform supports exchange-traded securities like stocks on U.S. or international exchanges. However, both offer the exciting option of cryptocurrency derivatives, although they do not allow for the purchase of actual cryptocurrencies. Additionally, both brokers offer copy trading features, which can be appealing for those interested in mirroring the trades of experienced investors.
In terms of overall ratings and rankings, TMGM slightly edges out Pepperstone. TMGM earns a 4.5-star rating for its range of investments, compared to Pepperstone's 4 stars. Ranking-wise, TMGM holds the 17th spot out of 63 brokers on ForexBrokers.com for this category, whereas Pepperstone is positioned at 26th. This ranking reflects their broader range of tradeable symbols and investment opportunities, making them a strong contender for those seeking comprehensive market access.
| 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 cater to traders with a wide array of trading platforms and tools. Both brokers offer free virtual demo accounts, making it easy for newcomers to practice trading without risk. While both provide MetaTrader 4 and MetaTrader 5, Pepperstone additionally offers DupliTrade. On the platform front, Pepperstone has an edge with its proprietary platform, unlike TMGM, which relies on third-party platforms. Both brokers support trading from a browser or a downloadable desktop version, catering to both Windows-based and web-based users. Copy trading is also available with both brokers, adding flexibility to trading strategies.
When it comes to charting tools, Pepperstone offers 30 drawing tools compared to TMGM's 15, giving traders more resources for technical analysis. Both brokers allow trading directly from stock charts and support watch lists organized with seven columns. In terms of ratings and rankings, both received four out of five stars for their trading platforms and tools, though Pepperstone ranks higher at #22 compared to TMGM's #48 in ForexBrokers.com's assessment. Overall, both promise a solid trading experience, with Pepperstone slightly ahead due to additional features like DupliTrade and its proprietary 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.
If you're in the market for an intuitive mobile trading app, both Pepperstone and TMGM have solid offerings for iPhone and Android users. Each app provides handy features like stock or forex price alerts and the ability to draw trendlines on charts. With both platforms, traders can enjoy viewing multiple time frames, ensuring a comprehensive market analysis directly from their mobile device. Additionally, they are each equipped to create watchlists with real-time quotes and boast charting capabilities with 30 technical studies. However, a key difference lies in watchlist symbol syncing; Pepperstone's app syncs watchlists with online accounts, providing ease in managing portfolios across devices—an advantage TMGM does not offer.
When it comes to user experience and accolades, both apps earn a respectable 4-star rating in mobile trading. Despite this shared rating, Pepperstone takes a lead in broader market recognition, ranking #21 out of 63 brokers according to ForexBrokers.com, compared to TMGM's position at #47. This suggests a slightly higher overall user satisfaction with Pepperstone, especially for those who value seamless integration between desktop and mobile experiences. For traders prioritizing ease of management and real-time access across various platforms, Pepperstone might be the more attractive choice.
| 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.
Pepperstone and TMGM both deliver daily market commentary and access to top-tier forex news sources like Bloomberg and Reuters, which keeps traders well-informed of market trends. Pepperstone distinguishes itself with technical and fundamental analysis tools from Autochartist and provides a sentiment-based trading tool that offers insights into market positions. TMGM, on the other hand, offers access to Trading Central tools and utilizes Acuity Trading’s resources to enhance the research experience. Both brokers offer economic calendars that outline global news events affecting various economies.
Pepperstone has garnered a rating of 4.5 stars for its research offerings, ranking 12th among 63 brokers, indicating a strong reputation. In contrast, TMGM holds a 3.5-star rating and is ranked 53rd in the same category. This suggests that while both brokers are equipped to meet traders' needs, Pepperstone may provide a more comprehensive research environment and better overall research support according to their rankings and star ratings.
| 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.
Pepperstone stands out as a top choice for beginner traders seeking educational resources in the forex and CFD markets. This online broker offers a wealth of over ten educational pieces, including articles, videos, and archived webinars, with a focus on helping beginners gain a strong foundation. Additionally, Pepperstone holds monthly online webinars for clients and provides easy access to a searchable archive of past webinars, allowing users to learn at their own pace. With a comprehensive selection of more than ten beginner-focused videos, alongside advanced educational content, Pepperstone's offerings are designed to cater to both novices and experienced traders alike. Completing its educational package, Pepperstone features an extensive investor dictionary with more than 50 investing term definitions, making it a well-rounded learning platform.
On the other hand, TMGM provides a more limited collection of educational materials. While the broker has a searchable archive of previously recorded webinars and includes an investor dictionary with definitions of at least 50 investing terms, it does lack the comprehensive range of beginner and advanced educational videos that Pepperstone offers. Further, TMGM does not host monthly webinars or provide more than ten educational pieces devoted to forex or CFDs. Reflecting these differences, Pepperstone boasts a higher education rating of 4.5 stars compared to TMGM's 3.5 stars and is ranked 17th out of 63 brokers on ForexBrokers.com for Education, while TMGM is positioned at 54th place. For beginners looking for a well-rounded educational experience, Pepperstone offers a more expansive and engaging learning 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 63 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
|
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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