Written by ForexBrokers.com
In this head to head comparison of Saxo 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.
When comparing online brokers Saxo and TMGM, Saxo emerges as a more established and highly trusted institution. Founded in 1992, Saxo is a bank that holds a premier position with a Trust Score of 99 out of 99 according to ForexBrokers.com. This high rating is backed by Saxo's seven Tier-1 licenses, which stand as a testament to its strong regulatory oversight. Although not publicly traded, Saxo's status as a bank adds another layer of credibility and assurance for those considering online trading.
In contrast, TMGM was founded more recently in 2013 and is not a bank. While it is also not publicly traded, TMGM holds a Trust Score of 83, indicating it is considered a trusted broker. TMGM has secured two Tier-1 licenses, offering a sense of security, though it lacks Tier-2 licenses. Despite being younger and holding fewer licenses, TMGM remains a viable option, particularly for those who prioritize cost-effective trading solutions. Saxo's strong regulatory framework may appeal more to those seeking high trust, while TMGM serves those looking for a solid, yet potentially more affordable trading platform.
| Feature |
Saxo
|
TMGM
|
|---|---|---|
| Year Founded | 1992 | 2013 |
| Publicly Traded (Listed) | No | No |
| Bank | Yes | No |
| Tier-1 Licenses | 7 | 2 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 2 |
When comparing the commissions and fees of Saxo and TMGM, both brokers offer competitive pricing, but cater to different types of traders. Saxo is particularly appealing to high-volume and active traders, thanks to its excellent all-around pricing structure. Depending on the account tier, Saxo provides varying average spreads on the popular EUR/USD pair: 1.1 pips for the Classic account, 1.0 for Platinum, and 0.9 for VIP accounts. Notably, Saxo’s pricing becomes more favorable in its Platinum and VIP accounts, aligning closely with industry standards. Unique features like multiple upgrades through Saxo’s loyalty program and commission-free trading, except for small accounts, make Saxo a robust choice. It holds a top tier position, rated with 5 stars for commissions and fees, and ranks 9th out of 63 brokers.
In contrast, TMGM presents a straightforward commission structure with its Edge account, which charges a modest $3.50 per side in commissions combined with low spreads. Although current average spread data for the EUR/USD is unavailable, TMGM’s simple and transparent cost structure appeals to traders looking for minimal fees. Islamic finance customers can also opt for Sharia-compliant accounts with the Edge account, as this option extends swap-free benefits not available with the Classic account. Despite TMGM’s appealing offerings, it holds a 4-star rating for commissions and fees, positioning it at 36th place in ForexBrokers.com's rankings.
Both Saxo and TMGM provide unique advantages in the realm of trading fees; Saxo shines with exceptional savings and loyalty perks for dedicated traders, while TMGM offers a low, consistent commission rate for those who appreciate straightforward pricing models. Your choice will ultimately hinge on your trading volume, account preference, and any specific requirements you may have for swap-free accounts.
| Feature |
Saxo
|
TMGM
|
|---|---|---|
| Minimum Deposit | $0 | $100 |
| Average Spread EUR/USD - Standard | 1.1 | N/A |
| All-in Cost EUR/USD - Active | 0.9 | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing Saxo and TMGM, both brokers offer forex trading through CFDs or spot contracts, ensuring traders access to the forex market. However, Saxo provides a significantly larger selection with 70,000 tradeable symbols, a major leap from TMGM's 12,000. Specifically for forex enthusiasts, Saxo features 190 forex pairs, well beyond TMGM's offering of 62. For those interested in exchange-traded securities, Saxo stands out by enabling purchases of U.S.-listed stocks, like Apple, and international offerings such as Vodafone. TMGM, on the other hand, limits clients to CFD trading and doesn't allow direct stock purchases from these exchanges. Both platforms support cryptocurrency derivatives but do not offer actual cryptocurrency acquisitions.
Copy trading is available with both Saxo and TMGM, providing tools for those looking to mimic successful trades. Nonetheless, Saxo's extensive investment range earns it a 5-star rating for its variety and scope, and a notable #3 ranking from ForexBrokers.com out of 63 brokers. TMGM follows closely with a respectable 4.5-star rating, holding the #17 spot in the same category. Overall, Saxo's expansive array of investment options caters to a wider audience, offering more flexibility and choice for traders.
| Feature |
Saxo
|
TMGM
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 70000 | 12000 |
| Forex Pairs (Total) | 190 | 62 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | 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 it comes to trading platforms and tools, Saxo and TMGM both offer a comprehensive suite of features designed to meet the needs of traders. Both brokers provide simulated or paper trading options through free virtual demo accounts, enabling users to practice their trading strategies without risking real money. While both Saxo and TMGM offer web-based platforms and Windows-based desktop downloads, Saxo takes it a step further with a proprietary platform crafted in-house, offering an experience that aligns seamlessly with their unique offerings. In contrast, TMGM compensates with its integration of MetaTrader 4 and 5, known for their widespread use and popularity among traders.
Charting tools and customization options also set these brokers apart. Saxo provides an extensive array of 20 drawing tools, compared to TMGM’s 15. When it comes to organizing and customizing watch lists, Saxo's platform excels with 60 columns compared to TMGM’s 7, allowing more detailed data viewing and management. Both platforms support trading directly from stock charts, which adds to user convenience. Although both brokers offer copy trading features, Saxo's platform is rated higher with 5 stars, surpassing TMGM’s 4-star rating. Saxo's tools and platforms earned the top spot in a ranking of 63 brokers by ForexBrokers.com, while TMGM holds the 48th position, highlighting Saxo’s distinct edge in platform capabilities.
| Feature |
Saxo
|
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) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 64 | 30 |
| Charting - Drawing Tools (Total) | 20 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 60 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both Saxo and TMGM offer mobile trading apps for iPhone and Android, catering to traders on the go. While both platforms provide real-time quotes, price alerts, and allow users to draw trendlines on charts, Saxo stands out with a higher rating of 5 stars compared to TMGM's 4 stars. Saxo's app provides more comprehensive charting capabilities, featuring 64 technical studies, while TMGM offers 30. Moreover, Saxo excels in seamless integration, allowing clients to sync watchlists between their mobile app and online account effortlessly, a feature not available with TMGM.
When it comes to viewing multiple time frames on stock or forex charts, both Saxo and TMGM offer this functionality, preserving traders' custom drawings across sessions. Saxo's app, however, is noted for its user-friendly experience, earning a high rank of #2 out of 63 brokers for mobile trading apps by ForexBrokers.com, whereas TMGM trails at #47. For traders emphasizing an efficient and integrated mobile experience, Saxo emerges as a leading option due to its advanced features and top-rated performance.
| Feature |
Saxo
|
TMGM
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 64 | 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.
When comparing Saxo and TMGM in terms of market research, both brokers offer valuable insights but cater to different needs. Both Saxo and TMGM provide daily market commentary and access to forex news from top-tier sources like Bloomberg and Reuters. However, Saxo stands out by incorporating tools from Autochartist, offering users sophisticated technical analysis and fundamental research tools. In contrast, TMGM provides resources from Trading Central and Acuity Trading, which enriches their research capabilities with technical analytics and insights from Signal Centre. Both platforms supply sentiment-based trading tools and maintain a comprehensive economic calendar for tracking current and upcoming global events.
Despite both brokers having strong offerings, Saxo holds a distinguished edge with a perfect five-star research rating and a prestigious #1 ranking out of 63 brokers on ForexBrokers.com. Meanwhile, TMGM receives a respectable 3.5-star rating, placing 53rd in the same category. This highlights Saxo's superior research tools and user resources, making it an appealing choice for traders who prioritize top-notch market analysis and a broad array of tools in their trading arsenal. On the other hand, TMGM might attract traders seeking specific insights from Trading Central and Acuity Trading.
| Feature |
Saxo
|
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 forex and CFDs trading, Saxo provides significantly more options compared to TMGM. Saxo offers a variety of learning materials that exceed ten educational pieces, including articles, videos, and archived webinars focused on forex and CFDs. In addition, Saxo hosts online educational webinars regularly, at least once a month, catering to both new and experienced traders. TMGM, on the other hand, does not meet the mark when it comes to this extensive array of learning materials or hosting monthly webinars.
Saxo also excels in offering a comprehensive suite of beginner educational videos, as well as advanced video content for more experienced traders. Both brokers provide a searchable archive of recorded webinars and maintain investor dictionaries featuring more than 50 investing terms, which can be invaluable for traders learning the ropes. While Saxo earns an impressive 5-star rating for education, TMGM falls short with a 3.5-star rating. Furthermore, Saxo is ranked 13th out of 63 brokers in the education category by ForexBrokers.com, while TMGM is positioned much lower, coming in at 54th. These factors make Saxo a more appealing choice for beginners seeking substantial educational resources in the world of trading.
| Feature |
Saxo
|
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 Saxo is better than TMGM. Saxo finished with an overall rank of #3, while TMGM finished with an overall rank of #37.
Saxo is an exclusive multi-asset broker with brilliant research and a superb trading platform experience – as well as a stunning selection of over 40,000 securities.
| Feature |
Saxo
|
TMGM
|
|---|---|---|
| Overall Rating |
|
|
| Trust Score | 99 | 83 |
| Range of Investments |
|
|
| Commissions & Fees |
|
|
| Platforms & Tools |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
Both Saxo and TMGM do not offer the ability to buy actual (delivered) cryptocurrency, but they do provide options for trading cryptocurrency derivatives.
While both Saxo and TMGM provide options for depositing and withdrawing funds through Visa/Mastercard and bank wires, TMGM additionally supports PayPal and Skrill, offering more flexible payment methods compared to Saxo.
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 | Saxo | TMGM | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 99 | 83 | |
| Winner | check_circle | ||
| Review | Saxo Review | TMGM Review |
| Broker Screenshots | Saxo | TMGM | |
|---|---|---|---|
| Trading Platforms Gallery (click to expand) |
|
| |
| Mobile Trading Gallery (click to expand) |
|
| |
| Research Gallery (click to expand) |
|
| |
| Education Gallery (click to expand) |
|
|
| Regulation | Saxo | TMGM | |
|---|---|---|---|
| Trust Score | 99 | 83 | |
| Year Founded | 1992 | 2013 | |
| Publicly Traded (Listed) | No | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 7 | 2 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 2 |
| Tier-1 Licenses (Highly Trusted) | Saxo | TMGM | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | Yes | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | Yes | 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) | Saxo | TMGM | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | 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 | Saxo | TMGM | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 70000 | 12000 | |
| Forex Pairs (Total) | 190 | 62 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | 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 | Saxo | TMGM | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.1 | N/A | |
| All-in Cost EUR/USD - Active | 0.9 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | Saxo | TMGM | |
|---|---|---|---|
| Minimum Deposit | $0 | $100 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | Saxo | TMGM | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Saxo | TMGM | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 60 | 7 | |
| Charting - Indicators / Studies (Total) | 64 | 30 | |
| Charting - Drawing Tools (Total) | 20 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Saxo | 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 | 64 | 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 | Saxo | 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 | Saxo | 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 | Saxo | 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 | Saxo Review | TMGM Review |
| Overall | Saxo | TMGM | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 99 | 83 | |
| Winner | check_circle | ||
| Review | Saxo Review | TMGM Review |
IG
CMC Markets
FOREX.com
XTB
eToro
AvaTrade
Plus500
Pepperstone
FP Markets
Tickmill