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 |
FinecoBank's commission structure and trading fees present certain challenges for transparency, particularly due to the absence of published average spread data for forex and CFD trading. The broker cites a spread of 1 pip for the EUR/USD pair, which is relatively higher than typical offerings from other forex brokers. There is mention of a lower spread of 0.8 pips, yet neither value is confirmed as an average. Additionally, Fineco does not provide a time range for these costs, adding to the difficulty in assessing the true trading expense. Nevertheless, there is indication that Fineco may offer more competitive spreads for its index CFDs. Overall, FinecoBank receives a 3.5-star rating for commissions and fees, placing it at rank #50 out of 62 brokers reviewed by ForexBrokers.com.
In contrast, TMGM presents an attractive proposition with competitive commission rates, particularly for its Edge account. This account option boasts low spreads and avoids requotes, enhancing the trading experience. Although specific average spread data for the EUR/USD is not available, TMGM remains a preferred choice among traders who prioritize transparency, as they benefit from clear cost structures. Customers can choose between a spread-only Classic account or a more cost-effective commission-based Edge account. The Edge account charges a manageable commission of $3.50 per side, atop minimal prevailing spreads, making it ideal for those seeking efficient trading. Islamic finance customers in need of Sharia-compliant options must opt for the Edge account, as it is the only one offering a swap-free service. TMGM earns a 4-star rating in commissions and fees, ranking #35 out of 62 brokers according to ForexBrokers.com.
| 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 trading platforms and tools, FinecoBank offers a unique proposition by providing a proprietary platform developed in-house. This personalized platform comes with a Windows-based desktop download, alongside a web-based browser option, allowing traders a range of accessibilities. However, FinecoBank does not support simulated or paper trading via a virtual demo account, nor does it include popular platforms such as MetaTrader 4 (MT4) and MetaTrader 5 (MT5). Despite these limitations, FinecoBank does provide a solid offering for its users, with a commendable four-star rating for trading platforms and tools, and is ranked 18th out of 62 brokers in this category by ForexBrokers.com.
In contrast, TMGM also provides a Windows-based desktop download platform and a web-based trading platform. Unlike FinecoBank, TMGM supports MetaTrader 4 and 5, offering more widely recognized trading tools. TMGM excels in simulated trading with a free virtual demo account, enabling users to test strategies without risk. Additionally, TMGM supports copy trading and offers a broader set of charting tools, with 15 drawing options and the ability to trade directly from charts. Although rated similarly with four stars for its platform offerings, TMGM is ranked further down at 48th by ForexBrokers.com. This provides an interesting decision point for traders who value certain features such as demo accounts and comprehensive charting tools.
| 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.
FinecoBank and TMGM both provide mobile trading apps available for iPhone and Android users, making it easy for traders to access the market on the go. Both apps offer stock or forex price alerts to keep users informed of market movements. However, when it comes to the integration and syncing of watchlists across platforms, neither FinecoBank nor TMGM offers this feature, so users will need to manage their watchlists separately on different devices. FinecoBank's app includes six technical studies for chart analysis, while TMGM stands out with 30 available studies, providing more tools for technical traders.
For those who rely on advanced charting capabilities, TMGM's app allows users to draw trendlines on charts and auto-saves any drawings, offering more flexibility in technical analysis. Both apps support multiple time frames for viewing charts, from daily to intraday, but only TMGM provides the ability to create watchlists with real-time quotes, offering an edge in tracking market movements. Despite these differences, both apps earn a solid rating of four stars in the mobile trading category. FinecoBank ranks slightly higher at #42 compared to TMGM's #46 according to ForexBrokers.com, reflecting subtle but noteworthy distinctions in user experience and functionality.
| 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
|
TMGM
|
|---|---|---|
| Overall Rating |
|
|
| Trust Score | 94 | 83 |
| Range of Investments |
|
|
| Commissions & Fees |
|
|
| Platform & Tools |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
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.
Select Brokers
↓×Compare
0 of 5| Overall Rating | FinecoBank | TMGM | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platform & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 94 | 83 | |
| Winner | check_circle | ||
| Review | FinecoBank Review | TMGM Review |
| Broker Screenshots | FinecoBank | TMGM | |
|---|---|---|---|
| Trading Platforms Gallery (click to expand) |
|
| |
| Mobile Trading Gallery (click to expand) |
|
| |
| Research Gallery (click to expand) |
|
| |
| Education Gallery (click to expand) |
|
|
| 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 | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platform & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 94 | 83 | |
| Winner | check_circle | ||
| Review | FinecoBank Review | TMGM Review |
IG
CMC Markets
FOREX.com
XTB
eToro
AvaTrade
Plus500
Pepperstone
FP Markets
Tickmill
