Written by ForexBrokers.com
In this head to head comparison of FinecoBank 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.
FinecoBank and TMGM are two online brokers that offer various services to traders, but there are several key differences between them. Founded in 1999, FinecoBank is a publicly traded company and operates as a bank, which often adds an extra layer of security for its clients. It holds two Tier-1 licenses, earning it a high Trust Score of 94 out of 99 by ForexBrokers.com, indicating that it is considered highly trusted. Meanwhile, TMGM, established in 2013, is not a bank nor publicly traded but also maintains two Tier-1 licenses. TMGM has earned a Trust Score of 83, which places it in the trusted category.
Both FinecoBank and TMGM lack Tier-2 licenses, but their respective Trust Scores reflect distinct levels of confidence among traders and regulators. FinecoBank's structure as a bank and its listing on a stock exchange might provide an added sense of security for investors seeking a highly reliable trading partner. On the other hand, TMGM's offerings might appeal to traders who are satisfied with a trusted and reliable broker that is not publicly traded. Each broker offers its own set of strengths based on their regulatory frameworks and company profiles, catering to different trader preferences and risk appetites.
| Feature |
FinecoBank
|
TMGM
|
|---|---|---|
| Year Founded | 1999 | 2013 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 2 | 2 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 2 |
When comparing FinecoBank and TMGM for trading commissions and fees, both brokers have notable differences. FinecoBank does not provide average spread data for forex and CFD trading, making it harder to evaluate trading costs accurately. While Fineco lists a 1 pip spread for the EUR/USD and mentions a spread of 0.8 pips, neither is confirmed as an average, nor is a date range given. Fineco does, however, seem to offer lower spreads on index CFDs. The broker receives a 3.5-star rating and ranks #50 out of 62 brokers in the Commissions and Fees category on ForexBrokers.com.
TMGM, on the other hand, presents a more transparent fee structure, especially for its Edge account. While recent average spread data for the EUR/USD is still unavailable, TMGM's Edge account features competitive commission rates with low spreads and no requotes, facilitating a clearer understanding of trading costs. Customers can choose between the spread-only Classic account and the commission-based Edge account, with the Edge option charging only $3.50 per side in commissions. TMGM also caters to customers requiring Islamic finance with the Edge account, although swap-free options are not offered with the Classic account. TMGM stands ahead with a 4-star rating and ranks #36 out of 62 brokers in the same category.
| Feature |
FinecoBank
|
TMGM
|
|---|---|---|
| Minimum Deposit | $0 | $100 |
| Average Spread EUR/USD - Standard | N/A | N/A |
| All-in Cost EUR/USD - Active | N/A | N/A |
| Active Trader or VIP Discounts | No | No |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
FinecoBank and TMGM both offer strong investment platforms, with comprehensive options for traders. FinecoBank provides access to a wide array of investments, including 9,770 tradeable symbols and a selection of 54 forex pairs. Notably, clients can invest in exchange-traded securities from both U.S. and international markets, adding extra depth to their investment choices. However, FinecoBank does not support copy trading or cryptocurrency derivatives, making it less attractive for those interested in those features.
TMGM boasts an impressive range of 12,000 tradeable symbols, offering 62 forex pairs to their clients. Unlike FinecoBank, TMGM does not provide direct investment in U.S. or international exchange-traded securities but does offer unique opportunities like copy trading and cryptocurrency derivatives, catering to specific trader interests. Both brokers are rated 4.5 stars for their range of investments, with FinecoBank slightly ahead in rankings at #16 compared to TMGM at #17 by ForexBrokers.com, indicating competitive offerings for diverse investment needs.
| Feature |
FinecoBank
|
TMGM
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 9770 | 12000 |
| Forex Pairs (Total) | 54 | 62 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | No | Yes |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | No | 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 FinecoBank and TMGM for their trading platforms and tools, there are notable differences that can guide one’s decision. FinecoBank stands out with its proprietary platform that users can download on Windows, offering a unique experience crafted in-house. TMGM does not offer a proprietary platform but provides the popular MetaTrader 4 and MetaTrader 5 platforms, which many traders appreciate for their wide range of features. Both brokers offer web-based trading platforms, ensuring accessibility on the go. However, TMGM wins over traders interested in simulated trading, as it provides a free virtual demo account—a feature FinecoBank does not offer.
For traders interested in advanced charting tools, TMGM presents a more comprehensive selection with 15 drawing tools compared to FinecoBank’s seven. TMGM also facilitates trading directly from stock charts, a feature not available from FinecoBank. Both platforms are rated four stars for their trading platforms and tools, but in rankings by ForexBrokers.com, FinecoBank sits higher at 17th place compared to TMGM's 48th. This ranking indicates a stronger recognition of FinecoBank's offerings in this category, despite TMGM's appealing features like copy trading and the availability of MetaTrader platforms.
| Feature |
FinecoBank
|
TMGM
|
|---|---|---|
| Virtual Trading (Demo) | No | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 37 | 30 |
| Charting - Drawing Tools (Total) | 7 | 15 |
| Charting - Trade From Chart | No | Yes |
| Watchlists - Total Fields | N/A | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both FinecoBank and TMGM provide iPhone and Android applications, offering traders the convenience of managing their investments on the go. Both apps allow users to receive stock or forex price alerts, ensuring they stay updated with market movements. However, FinecoBank and TMGM don't support watchlist symbol syncing, meaning any changes made to a watchlist on one device will need to be manually updated on the other. In terms of charting features, TMGM stands out with 30 technical studies and the ability to draw trendlines, in contrast to FinecoBank's more limited 6 technical studies and lack of trendline drawing capabilities.
Both apps offer the option to view multiple time frames, such as daily, weekly, or intraday, giving traders flexibility in their analysis. However, TMGM offers additional convenience with auto-saving of chart drawings and the ability to create watchlists with real-time quotes, features not available with FinecoBank's app. When it comes to ratings, both apps achieve a solid 4-star rating for mobile trading, with FinecoBank ranked #42 and TMGM ranked #47 out of 62 brokers by ForexBrokers.com in the Mobile Trading Apps category. While FinecoBank's app may appeal to traders looking for basic features, TMGM's offers more comprehensive charting tools and watchlist capabilities, providing a more enriched trading experience on mobile devices.
| Feature |
FinecoBank
|
TMGM
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 6 | 30 |
| Mobile Charting - Draw Trendlines | No | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | No | Yes |
| Mobile Watchlist | No | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing FinecoBank and TMGM in terms of market research offerings, it becomes apparent that both have unique strengths for potential investors. FinecoBank does not offer daily market commentary but excels in providing forex news from top-tier sources like Bloomberg, Reuters, and Dow Jones. In comparison, TMGM offers daily market commentary and also delivers forex news from similar top-tier sources. While neither broker provides technical analysis tools from Autochartist, TMGM leads with tools from Trading Central and offers Trading Central's technical analytics as well as sentiment-based trading tools, features not available with FinecoBank. However, FinecoBank and TMGM both offer comprehensive economic calendars to keep traders updated on global news events.
Despite their different features, FinecoBank ranks higher for research based on reviews, receiving four out of five stars, compared to TMGM’s 3.5-star rating. On ForexBrokers.com, FinecoBank is placed at #33 out of 62 brokers while TMGM is ranked #53. Although TMGM provides several unique tools like Acuity Trading's Signal Centre, FinecoBank's reliance on reputable news agencies and higher ranking could appeal to traders prioritizing these aspects.
| Feature |
FinecoBank
|
TMGM
|
|---|---|---|
| Daily Market Commentary | No | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | No | 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 tailored for beginners, FinecoBank and TMGM each have their strengths and weaknesses. FinecoBank offers monthly online webinars, which are great for live learning, although the sessions are not available later as a searchable archive. They also provide a collection of more than ten beginner-centric videos, making it easier for newcomers to absorb trading concepts. FinecoBank complements this with an investor dictionary featuring over 50 key investing terms, aiding those new to the trading world.
TMGM, on the other hand, does not host regular live webinars but does maintain a searchable archive of past webinars, allowing users to delve into recorded content at their convenience. Although TMGM lacks a comprehensive beginner video series, they do provide an investor dictionary similar to FinecoBank's, featuring essential investment definitions. Overall, FinecoBank edges out TMGM with a slightly higher education rating of 4 stars compared to TMGM's 3.5 stars, and stands six positions ahead in ForexBrokers.com's education ranking, positioned at 49 out of 62 brokers.
| Feature |
FinecoBank
|
TMGM
|
|---|---|---|
| Education (Forex or CFDs) | No | No |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | No | Yes |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | No | 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 FinecoBank is better than TMGM. FinecoBank finished with an overall rank of #25, while TMGM finished with an overall rank of #37.
FinecoBank is a trusted multi-asset broker offering forex and CFDs across its brands regulated in the U.K. and Italy. However, unless you visit a physical branch as a citizen of the EU – or you are a resident of Italy or the U.K. – you will not be permitted to open an online account with FinecoBank.
| Feature |
FinecoBank
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TMGM
|
|---|---|---|
| Overall Rating |
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| Trust Score | 94 | 83 |
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While both FinecoBank and TMGM do not offer the option to buy actual delivered cryptocurrency, TMGM distinguishes itself by providing the ability to trade cryptocurrency derivatives, a service not available with FinecoBank.
FinecoBank supports ACH and SEPA transfers for depositing or withdrawing funds and permits bank wires, while TMGM does not support ACH or SEPA transfers but offers more diverse options like PayPal, Skrill, Visa, Mastercard, and bank wires, providing a broader range of deposit and withdrawal methods.
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 | FinecoBank | TMGM | |
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| Trust Score | 94 | 83 | |
| Winner | check_circle | ||
| Review | FinecoBank Review | TMGM Review |
| Broker Screenshots | FinecoBank | TMGM | |
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| Regulation | FinecoBank | TMGM | |
|---|---|---|---|
| Trust Score | 94 | 83 | |
| Year Founded | 1999 | 2013 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 2 | 2 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 2 |
| Tier-1 Licenses (Highly Trusted) | FinecoBank | 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) | FinecoBank | TMGM | |
|---|---|---|---|
| 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 | FinecoBank | TMGM | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 9770 | 12000 | |
| Forex Pairs (Total) | 54 | 62 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | No | Yes | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | No | 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 | FinecoBank | TMGM | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | N/A | N/A | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Active Trader or VIP Discounts | No | No | |
| Inactivity Fee | No | Yes | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | No | Yes |
| Funding | FinecoBank | TMGM | |
|---|---|---|---|
| Minimum Deposit | $0 | $100 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | FinecoBank | TMGM | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | FinecoBank | TMGM | |
|---|---|---|---|
| Virtual Trading (Demo) | No | Yes | |
| Alerts - Basic Fields | No | Yes | |
| Watchlists - Total Fields | N/A | 7 | |
| Charting - Indicators / Studies (Total) | 37 | 30 | |
| Charting - Drawing Tools (Total) | 7 | 15 | |
| Charting - Trade From Chart | No | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | FinecoBank | TMGM | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | No | Yes | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 6 | 30 | |
| Mobile Charting - Draw Trendlines | No | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | No | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | FinecoBank | TMGM | |
|---|---|---|---|
| Daily Market Commentary | No | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | Yes | |
| Economic Calendar | Yes | Yes |
| Education | FinecoBank | TMGM | |
|---|---|---|---|
| Education (Forex or CFDs) | No | No | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | No | Yes | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | No | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | FinecoBank | 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 | FinecoBank Review | TMGM Review |
| Overall | FinecoBank | TMGM | |
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| Trust Score | 94 | 83 | |
| Winner | check_circle | ||
| Review | FinecoBank Review | TMGM Review |
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