Written by ForexBrokers.com
In this head to head comparison of TMGM vs TopFX, 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 the online trading platforms TMGM and TopFX, it's important to consider their regulatory standings. TMGM, which started in 2013, and TopFX, founded in 2010, are both privately held companies that do not operate as banks. TMGM shines with two Tier-1 licenses, placing it in a highly trusted category according to ForexBrokers.com's standards. TopFX, on the other hand, holds a single Tier-1 license. Neither broker holds any Tier-2 licenses.
Trustworthiness can be further quantified using the ForexBrokers.com Trust Score, where TMGM earns a reliable score of 83, signifying a trusted status. TopFX, with a score of 67, is categorized as higher risk. These scores provide a quick gauge for potential clients assessing where to place their investments confidently.
| Feature |
TMGM
|
TopFX
|
|---|---|---|
| Year Founded | 2013 | 2010 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 1 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 1 |
When comparing TMGM and TopFX for their commissions and fees, both brokers offer competitive options but approach them differently. TMGM provides two account types: the spread-only Classic account and the commission-based Edge account. For traders aiming to minimize costs, the Edge account charges a modest commission of $3.50 per side, totaling $7 for a round trip, alongside low prevailing spreads. This makes it an appealing option, especially for Islamic finance customers seeking interest-free accounts, as they can only opt for the Edge account under Sharia-compliance rules. TMGM has been rated 4 stars out of five for commissions and fees, holding the 36th position out of 63 brokers according to ForexBrokers.com.
TopFX also features a dual account system, offering the spread-only ZERO account and the RAW account, which incurs a 2.75 EUR per side commission (5.50 EUR per round turn). The RAW account boasts average spreads as low as 0.33 pips for EUR/USD in July 2024, with an all-in cost roughly equal to 0.88 pips, aligning with industry standards. Alternatively, the ZERO account avoids commission fees but presents higher average spreads of 1.03 pips for EUR/USD during the same period. TopFX shares a 4-star rating for its commission and fee structure and is ranked 40th out of 63 brokers in this category on ForexBrokers.com.
Overall, both TMGM and TopFX offer account options that cater to different trading styles. TMGM's Edge account is favorable for those seeking low commissions and accommodating interest-free accounts, while TopFX is suitable for traders who prefer tighter spreads on a commission account or zero commission with wider spreads. Both brokers perform similarly in terms of star ratings, yet their individual account features and required deposits may influence a trader's choice depending on their priorities.
| Feature |
TMGM
|
TopFX
|
|---|---|---|
| Minimum Deposit | $100 | Depends on payment method |
| Average Spread EUR/USD - Standard | N/A | 1.03 |
| All-in Cost EUR/USD - Active | N/A | 0.88 |
| Active Trader or VIP Discounts | No | No |
| ACH or SEPA Transfers | No | 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.
When comparing TMGM and TopFX in terms of their range of investments, both brokers offer forex trading via CFDs or spot contracts. However, TMGM clearly stands out with a higher variety of tradeable symbols, offering a staggering 12,000 compared to TopFX’s 655. In the realm of forex pairs, TMGM provides 62 options while TopFX offers 60. Although neither broker facilitates the purchase of exchange-traded securities on U.S. or international exchanges directly, they both support the use of copy trading and cryptocurrency derivatives.
In the overall evaluation of investment options, TMGM receives an impressive rating of 4.5 stars for range of investments, whereas TopFX is rated at 3.5 stars. Rankings from ForexBrokers.com place TMGM at 17th out of 63 brokers, demonstrating its wider range, while TopFX is positioned lower at 46th. This data highlights TMGM’s more diverse investment offerings and its competitive edge over TopFX in providing a broader array of trading opportunities.
| Feature |
TMGM
|
TopFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 12000 | 655 |
| Forex Pairs (Total) | 62 | 60 |
| 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.
When comparing TMGM and TopFX for trading platforms and tools, both brokers offer a similar range of features but also have some differences. Each provides a free virtual demo account for simulated trading, making it easy for beginners to practice. While neither broker offers a proprietary platform, both support the widely-used MetaTrader 4 (MT4) platform and offer Windows-based desktop download and web-based trading options. However, TMGM goes a step further by also including MetaTrader 5 (MT5) for traders seeking more advanced functionalities. Apart from these, both brokers facilitate copy trading but don't support platforms like DupliTrade or ZuluTrade.
When it comes to charting tools, both TMGM and TopFX stand on equal footing, offering 15 drawing tools each and the capacity to place trades directly from stock charts, enhancing the trading experience. Their watch lists are equally comprehensive, with seven columns available to tailor-watch the markets. Both brokers have a solid rating of four stars for their trading platforms and tools, reflecting user satisfaction. Despite these similarities, ForexBrokers.com ranks TopFX slightly higher, at 45 out of 63 brokers, while TMGM is positioned at 48. Insgesamt, both provide capable trading environments with distinct advantages tailored to different trading needs.
| Feature |
TMGM
|
TopFX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | No | 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 | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 30 | 30 |
| Charting - Drawing Tools (Total) | 15 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing TMGM and TopFX mobile trading apps, both platforms are available for iPhone and Android users, making them accessible to a wide range of traders. Each offers essential features such as stock and forex price alerts, alongside the capability to draw trendlines on charts and view multiple time frames. Both apps provide users with 30 technical studies for chart analysis and ensure that drawings auto-save, offering convenience and efficiency for technical traders.
However, neither TMGM nor TopFX supports the syncing of watchlists between the mobile app and online accounts, which could be a downside for those who frequently switch between devices. Both platforms enable creating watchlists with real-time quotes, keeping traders up-to-date with market changes. Despite these similarities, TMGM holds a slightly better position with a mobile trading app ranking of #47 compared to TopFX’s #51 out of 63 brokers, according to ForexBrokers.com. Both apps are rated 4 out of 5 stars, reflecting a solid performance in the mobile trading sphere.
| Feature |
TMGM
|
TopFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | 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.
When it comes to market research offerings, TMGM and TopFX each bring a distinctive set of features to the table. TMGM provides daily market commentary, granting users timely insights not available with TopFX. Both brokers deliver forex news from leading sources like Bloomberg and Reuters, but they differ in other research tools. TopFX utilizes Autochartist for in-depth technical and fundamental analysis, whereas TMGM opts for services from Trading Central. Both brokers feature sentiment-based trading tools that help investors gauge market positions, but TMGM enhances its offerings with resources from Acuity Trading, a benefit TopFX does not include.
For monitoring global economies, an economic calendar is included by both brokers. However, regarding ratings and rankings from ForexBrokers.com, TMGM edges out with a 3.5-star rating compared to TopFX's 3-star score. Furthermore, TMGM is placed at the 53rd position among 63 evaluated brokers in the Research category, outpacing TopFX, which is ranked at number 60. This comparative analysis suggests TMGM offers slightly more comprehensive market research tools and resources than TopFX, making it an attractive option for traders seeking deeper insights.
| Feature |
TMGM
|
TopFX
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | Yes | Yes |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | Yes | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational resources available to beginners, TMGM and TopFX both fall short in offering a substantial collection of forex and CFD educational materials, such as articles, videos, or archived webinars. Neither broker meets the benchmark of providing at least ten educational pieces primarily focused on forex or CFDs. Additionally, neither TMGM nor TopFX hosts regular online educational client webinars, limiting live learning opportunities for users. However, TMGM takes a slight edge by providing access to a searchable archive of recorded client webinars, a feature that TopFX lacks.
TMGM sets itself apart further with an investor dictionary containing definitions of at least 50 investing terms, helping beginners to familiarize themselves with common trading language. In contrast, TopFX does not offer a similar resource. Consequently, TMGM receives a marginally higher education rating of 3.5 out of 5 stars compared to TopFX's 3-star rating. Within ForexBrokers.com's education category, TMGM is ranked 54th out of 63 brokers, whereas TopFX is positioned at 61st, reflecting TMGM's slightly stronger educational offering.
| Feature |
TMGM
|
TopFX
|
|---|---|---|
| Education (Forex or CFDs) | No | No |
| Client Webinars | No | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | No | No |
| Videos - Advanced Trading Videos | No | No |
| Investor Dictionary (Glossary) | Yes | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that TMGM is better than TopFX. TMGM finished with an overall rank of #37, while TopFX finished with an overall rank of #62.
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
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TopFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 83 | 67 |
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Both TMGM and TopFX do not offer the ability to buy actual delivered cryptocurrency, but they do provide options to trade cryptocurrency derivatives.
Both TMGM and TopFX provide multiple options for depositing and withdrawing account funds, including PayPal, Skrill, Visa, Mastercard, and bank wires, but do not offer ACH or SEPA transfers as options.
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 | TMGM | TopFX | |
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| Trust Score | 83 | 67 | |
| Winner | check_circle | ||
| Review | TMGM Review | TopFX Review |
| Broker Screenshots | TMGM | TopFX | |
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| Regulation | TMGM | TopFX | |
|---|---|---|---|
| Trust Score | 83 | 67 | |
| Year Founded | 2013 | 2010 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes | |
| Tier-1 Licenses | 2 | 1 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 1 |
| Tier-1 Licenses (Highly Trusted) | TMGM | TopFX | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| 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) | No | No | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes |
| Tier-2 Licenses (Trusted) | TMGM | TopFX | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | TMGM | TopFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 12000 | 655 | |
| Forex Pairs (Total) | 62 | 60 | |
| 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 | TMGM | TopFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | N/A | 1.03 | |
| All-in Cost EUR/USD - Active | N/A | 0.88 | |
| Active Trader or VIP Discounts | No | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | TMGM | TopFX | |
|---|---|---|---|
| Minimum Deposit | $100 | Depends on payment method | |
| 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 | No | No |
| Trading Platforms | TMGM | TopFX | |
|---|---|---|---|
| Proprietary Platform | No | 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 | No | |
| cTrader | No | Yes | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | TMGM | TopFX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 7 | |
| Charting - Indicators / Studies (Total) | 30 | 30 | |
| Charting - Drawing Tools (Total) | 15 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | TMGM | TopFX | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | No | 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 | TMGM | TopFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | TMGM | TopFX | |
|---|---|---|---|
| Education (Forex or CFDs) | No | No | |
| Client Webinars | No | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | No | No | |
| Videos - Advanced Trading Videos | No | No | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | TMGM | TopFX | |
|---|---|---|---|
| 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 | TMGM Review | TopFX Review |
| Overall | TMGM | TopFX | |
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| Trust Score | 83 | 67 | |
| Winner | check_circle | ||
| Review | TMGM Review | TopFX Review |
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