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TMGM vs TopFX 2022

ForexBrokers.com

Written by ForexBrokers.com

November 08, 2022

Is TMGM better than TopFX? In our analysis of 23 international regulators across 39 of the best forex brokers, TMGM is considered average-risk, with an overall Trust Score of 79 out of 99. TopFX is considered high-risk, with an overall Trust Score of 67 out of 99. Learn more about Trust Score.

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Overall RatingTMGMTopFXIG
Overall Rating4 Stars3.5 Stars5 Stars
Commissions & Fees4 Stars4 Stars5 Stars
Offering of Investments5 Stars3.5 Stars5 Stars
Platform & Tools4 Stars4 Stars5 Stars
Mobile Trading4 Stars4 Stars5 Stars
Research3.5 Stars3 Stars5 Stars
Education4.5 Stars3 Stars5 Stars
Trust Score796799
Winnercheck_circle
ReviewTMGM ReviewTopFX ReviewIG Review
RegulationTMGMTopFXIG
Trust Score796799
Year Founded201320101974
Publicly Traded (Listed)NoNoYes
BankNoNoYes
Tier-1 Licenses207
Tier-2 Licenses012
Tier-3 Licenses101
Authorised in European UnionNoNoYes
About RegulationA โ€œYesโ€ for any individual regulator indicates that the broker has at least one brand or entity that is licensed and/or authorized by that regulator within its group/organizational structure. Learn more about Trust Score.
Tier-1 Licenses (High Trust)TMGMTopFXIG
ASIC Authorised (Australia)YesNoYes
IIROC Authorised (Canada)NoNoNo
SFC Authorised (Hong Kong)NoNoNo
CBI Authorised (Ireland)NoNoNo
FSA Authorised (Japan)NoNoYes
MAS Authorised (Singapore)NoNoYes
FINMA Authorised (Switzerland)NoNoYes
FCA Authorised (U.K.)NoNoYes
CFTC Registered (USA)NoNoYes
FMA Authorised (New Zealand)YesNoYes
Tier-2 Licenses (Average Trust)TMGMTopFXIG
CBRC Authorised (China)NoNoNo
CySEC Authorised (Cyprus)NoYesNo
SEBI Authorised (India)NoNoNo
ISA Authorised (Israel)NoNoNo
CBR Authorised (Russia)NoNoNo
FSCA Authorised (South Africa)NoNoYes
SEC Authorised (Thailand)NoNoNo
DFSA / Central Bank Authorised (UAE)NoNoYes
Tier-3 Licenses (Low Trust)TMGMTopFXIG
SCB Authorised (Bahamas)NoNoNo
IFSC Authorised (Belize)NoNoNo
CIMA Authorised (Cayman Islands)NoNoNo
BMA Authorised (Bermuda)NoNoYes
FSC Authorised (British Virgin Islands)NoNoNo
FSC Authorised (Mauritius)NoNoNo
VFSC Authorised (Vanuatu)YesNoNo
InvestmentsTMGMTopFXIG
Forex Trading (Spot or CFDs)YesYesYes
Tradeable Symbols (Total)1200065519537
Forex Pairs (Total)6260100
U.S. Stock Trading (Non CFD)NoNoYes
Int'l Stock Trading (Non CFD)NoNoYes
Social Trading / Copy TradingYesYesYes
Cryptocurrency (Physical)NoNoNo
Cryptocurrency (CFD)YesYesYes
DisclaimersNote: 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).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).
CostTMGMTopFXIG
Average Spread EUR/USD - Standard0.96 (July 2021)N/A0.86 (September 2022)
All-in Cost EUR/USD - Active0.76 (July 2021)N/A0.5957 (September 2022)
Active Trader or VIP DiscountsYesNoYes
Execution: Agency BrokerYesNoYes
Execution: Market MakerNoYesYes
FundingTMGMTopFXIG
Minimum Initial Deposit$100Depends on payment methodยฃ250.00
PayPal (Deposit/Withdraw)NoYesYes
Skrill (Deposit/Withdraw)YesYesNo
Visa/Mastercard (Credit/Debit)YesYesYes
Bank Wire (Deposit/Withdraw)YesYesYes
Trading PlatformsTMGMTopFXIG
Proprietary PlatformYesNoYes
Desktop Platform (Windows)YesYesYes
Web PlatformYesYesYes
Social Trading / Copy TradingYesYesYes
MetaTrader 4 (MT4)YesYesYes
MetaTrader 5 (MT5)NoNoNo
cTraderNoYesNo
DupliTradeNoNoNo
ZuluTradeNoNoNo
Trading ToolsTMGMTopFXIG
Virtual Trading (Demo)YesYesYes
Alerts - Basic FieldsYesYesYes
Watchlists - Total Fields7714
Charting - Indicators / Studies (Total)303033
Charting - Drawing Tools (Total)151520
Charting - Trade From ChartYesYesYes
Charts can be savedYesYesYes
Mobile TradingTMGMTopFXIG
Android AppYesYesYes
Apple iOS AppYesYesYes
Mobile Alerts - Basic FieldsYesYesYes
Mobile WatchlistYesYesYes
Watchlist SyncingNoNoYes
Mobile Charting - Indicators / Studies303033
Mobile Charting - Draw TrendlinesYesYesYes
Mobile Charting - Multiple Time FramesYesYesYes
Mobile Charting - Drawings AutosaveNoYesYes
Forex CalendarNoYesYes
ResearchTMGMTopFXIG
Daily Market CommentaryYesNoYes
Forex News (Top-Tier Sources)YesYesYes
AutochartistNoYesYes
Trading Central (Recognia)YesYesNo
Social Sentiment - Currency PairsYesYesYes
Economic CalendarYesYesYes
EducationTMGMTopFXIG
Has Education - Forex or CFDsYesNoYes
Client WebinarsYesNoYes
Client Webinars (Archived)YesNoYes
Videos - Beginner Trading VideosNoNoYes
Videos - Advanced Trading VideosNoNoYes
Investor Dictionary (Glossary)YesNoYes
Major Forex PairsTMGMTopFXIG
GBP/USDYesYesYes
USD/JPYYesYesYes
EUR/USDYesYesYes
USD/CHFYesYesYes
USD/CADYesYesYes
NZD/USDYesYesYes
AUD/USDYesYesYes
ReviewTMGM ReviewTopFX ReviewIG Review
OverallTMGMTopFXIG
Overall Rating4 Stars3.5 Stars5 Stars
Commissions & Fees4 Stars4 Stars5 Stars
Offering of Investments5 Stars3.5 Stars5 Stars
Platform & Tools4 Stars4 Stars5 Stars
Mobile Trading4 Stars4 Stars5 Stars
Research3.5 Stars3 Stars5 Stars
Education4.5 Stars3 Stars5 Stars
Trust Score796799
Winnercheck_circle
ReviewTMGM ReviewTopFX ReviewIG Review
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TMGM vs TopFX Comparison

Comparing forex brokers side by side is no easy task. For our 2022 annual forex broker review, we spent hundreds of hours assessing 39 forex and CFD brokerages to find the best forex broker. Let's compare TMGM vs TopFX.

Does TMGM or TopFX offer lower pricing?

Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spreads data, and pricing structures vary. Based on our thorough annual assessment, IG offers better pricing overall for traders.

Is TMGM or TopFX safer for forex and CFDs trading?

At ForexBrokers.com, we track where each forex and CFD broker is regulated across over 23 international regulator databases. Here's our findings. TMGM holds 2 global Tier-1 licenses, while TopFX holds 0. TopFX holds 1 global Tier-2 licenses, while TMGM holds 0. In our analysis of 23 international regulators across 50 brokers, TMGM earned a higher Trust Score than TopFX.

Which trading platform is better: TMGM or TopFX?

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

What about MetaTrader and copy trading?

For forex and CFDs traders, copy trading and MetaTrader are both popular platform options. Both TMGM and TopFX offer MetaTrader 4 (MT4).TMGM and TopFX both offer copy trading.

How many forex pairs and CFDs are available to trade?

TMGM provides traders 62 currency pairs (e.g., EUR/USD) compared to TopFX's 60 available pairs. Forex pairs aside, TMGM offers traders access to 12000 CFDs while TopFX has 655 available CFDs, a difference of 11345.

Can I trust TMGM?

TMGM is not publicly traded and does not operate a bank. TMGM is authorised by two tier-1 regulators (high trust), zero tier-2 regulators (average trust), and one tier-3 regulator (low trust). TMGM is authorised by the following tier-1 regulators: the Australian Securities & Investment Commission (ASIC) and the Financial Markets Authority (FMA).

Can I trust TopFX?

TopFX is not publicly traded and does not operate a bank. TopFX is authorised by zero tier-1 regulators (high trust) and one tier-2 regulator (average trust).

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 โ€“ though the platform-specific requirements will limit who can use it.

Is TopFX good?

TopFX offers the MetaTrader and cTrader platform suites, and grants access to a medium range of CFD markets and forex pairs. However, TopFX struggles to compete with the best brokers in several categories, including market research and education.

Overall winner: IG

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We review each brokerโ€™s overall global offering โ€“ a โ€œYesโ€ 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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