Written by ForexBrokers.com
In this head to head comparison of FOREX.com 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.
FOREX.com, established in 1999, is a publicly traded company that holds an impressive seven Tier-1 licenses and one Tier-2 license. This extensive regulatory approval reflects its top-tier trustworthiness, earning FOREX.com the highest possible Trust Score of 99 from ForexBrokers.com. This high rating indicates that FOREX.com is considered highly trusted within the industry, providing a secure environment for trading activities.
On the other hand, TMGM, which began operations in 2013, is a privately held broker. It holds two Tier-1 licenses, contributing to a ForexBrokers.com Trust Score of 83. Although not as high as FOREX.com, TMGM still ranks as a trusted broker. Both brokers are not banks, providing their customers with alternative trading options outside traditional banking structures.
| Feature |
FOREX.com
|
TMGM
|
|---|---|---|
| Year Founded | 1999 | 2013 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 7 | 2 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 2 |
When comparing FOREX.com and TMGM for their commissions and fees, both brokers offer distinct advantages for different types of traders. FOREX.com provides multiple account types, including a Standard account with higher spreads at 1.4 pips in the U.S. for the EUR/USD, and a recently introduced RAW account with lower spreads averaging 0.13 pips, subject to commissions. This makes FOREX.com an attractive option for active traders, as it offers volume-based rebates and competitive spreads that can rival top-tier brokers for those trading in high volumes. However, unless trading more than $50 million monthly, the all-in costs between its Commission and Standard accounts remain similar for U.S. residents. FOREX.com holds a 4.5-star rating and ranks 13th out of 62 brokers in the Commissions and Fees category by ForexBrokers.com.
TMGM, on the other hand, is notable for its competitive pricing structures, particularly through its Edge account. This account charges just $3.50 per side in commission, adding to the low spreads, although specific spread data for the EUR/USD was unavailable. The Edge account is favorable for those who prefer low trading costs, while the Classic account offers a spread-only option. Additionally, TMGM accommodates Islamic finance customers by offering an interest-free version of the Edge account. TMGM has earned a 4-star rating and holds the 35th position out of 62 brokers in the same category by ForexBrokers.com.
In summary, the choice between FOREX.com and TMGM should depend on trading volume and cost preference. FOREX.com is better suited to traders needing diverse account options and significant rebates for high-volume trades. Meanwhile, TMGM offers a straightforward structure with low commissions, appealing to cost-conscious traders, alongside Islamic finance compatibility for those who require it. Both brokers provide transparent and competitive pricing structures, each excelling in different areas to suit varied trading needs.
| Feature |
FOREX.com
|
TMGM
|
|---|---|---|
| Minimum Deposit | $100 | $100 |
| Average Spread EUR/USD - Standard | 1.4 | N/A |
| All-in Cost EUR/USD - Active | 0.9 | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | 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 the investment offerings of FOREX.com and TMGM, both platforms provide a solid selection for traders. FOREX.com boasts a larger variety of forex pairs with 91 available options, while TMGM offers 62 pairs. However, TMGM surpasses FOREX.com in the overall number of tradeable symbols, offering an impressive 12,000 compared to FOREX.com’s 5,500. Both platforms allow for forex trading through CFDs or spot contracts, and each offers the ability to trade cryptocurrency derivatives, though neither provides the option to purchase actual cryptocurrency or exchange-traded securities directly on U.S. or international exchanges.
Despite FOREX.com's limited copy trading features, which TMGM does offer, it earns a higher ranking in the investment range category, securing the 7th spot out of 62 brokers compared to TMGM's 17th position. In terms of ratings, FOREX.com shines slightly brighter with a 5-star rating for its range of investments, while TMGM follows closely with a 4.5-star rating. For investors prioritizing a wider selection of tradeable symbols, TMGM could be the preferred choice, while FOREX.com might appeal more to those focused on a broader range of forex pairs and higher-rated offerings.
| Feature |
FOREX.com
|
TMGM
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 5500 | 12000 |
| Forex Pairs (Total) | 91 | 62 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | No |
| Social Trading / Copy Trading | No | 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.
FOREX.com and TMGM both provide online trading platforms that are designed to cater to different trading needs. FOREX.com stands out with its in-house developed trading platform, offering a virtual demo account for practice. It supports multiple types of platforms including a Windows-based desktop download, web-based version, and both MetaTrader 4 and 5. While FOREX.com does not feature copy trading like TMGM, it excels with a higher number of drawing tools for charting at 239 options and provides the ability to trade directly from stock charts. Watch list customization is also more comprehensive with 20 fields available.
Though both brokers offer simulated trading with free demo accounts, TMGM does not possess a proprietary platform, relying instead on popular third-party software like MetaTrader 4 and 5. TMGM also supports web and desktop applications alongside the ability for copy trading, which FOREX.com lacks. However, FOREX.com gets a higher rating of 5 stars for its platforms and tools compared to TMGM's 4 stars. FOREX.com's superior feature set and platform options contribute to its higher ranking of #7 out of 62 brokers by ForexBrokers.com, where TMGM stands at #48.
| Feature |
FOREX.com
|
TMGM
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 88 | 30 |
| Charting - Drawing Tools (Total) | 239 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 20 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of FOREX.com and TMGM, both platforms offer iPhone and Android apps with essential features like stock and forex price alerts. However, FOREX.com takes the lead with its ability to sync watchlist symbols between the mobile app and the online account, a functionality TMGM does not provide. In terms of technical chart studies, FOREX.com offers an impressive 88 studies, far surpassing TMGM's 30. Both apps allow users to draw trendlines on charts and view different time frames, ranging from daily to intraday views, with the convenience of auto-saving drawings.
FOREX.com's app further stands out with its ability to create watchlists with real-time quotes, earning a 5-star rating for Mobile Trading Apps compared to TMGM's 4-star rating. Reflecting its strengths, FOREX.com is ranked #3 out of 62 brokers by ForexBrokers.com in the Mobile Trading Apps category, while TMGM is positioned at #46. This comprehensive feature set makes FOREX.com a more appealing option for traders seeking a seamless mobile trading experience.
| Feature |
FOREX.com
|
TMGM
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 88 | 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 the market research capabilities of FOREX.com and TMGM, both brokers deliver daily market commentary and provide forex news from renowned sources like Bloomberg and Reuters. This ensures traders have access to up-to-date and reliable information. Each platform offers technical analysis tools from Trading Central, which are crucial for making informed trading decisions. However, neither broker integrates Autochartist tools in their research offerings. In addition, both brokers provide a sentiment-based trading tool, displaying the balance of long and short positions across various currency pairs, which is a valuable resource for assessing market sentiment.
Where these two brokers diverge is in their additional research tools. TMGM stands out by offering tools from Acuity Trading, such as Signal Centre, enhancing its market research offerings. Conversely, FOREX.com does not support these tools, but it provides a comprehensive economic calendar similar to TMGM's. FOREX.com's research capabilities earn it a 4.5-star rating, ranking 9th out of 62 brokers, whereas TMGM receives a 3.5-star rating and ranks 53rd among its peers. This distinction highlights FOREX.com's stronger focus on research services compared to TMGM.
| Feature |
FOREX.com
|
TMGM
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | Yes | 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, FOREX.com stands out as a more comprehensive option compared to TMGM. FOREX.com provides a range of educational materials including over ten articles, videos, and archived webinars specifically focused on forex and CFDs, making it an appealing choice for those new to trading. They also offer monthly online webinars that are easily accessible to clients and host a searchable archive of previously recorded webinars. Additionally, FOREX.com's library includes more than ten beginner-focused educational videos, which are specifically designed to help newcomers get up to speed with trading concepts.
TMGM, on the other hand, falls short in these areas, providing less than ten educational materials and lacking monthly client webinars. However, it does offer a searchable archive of past webinars and an investor dictionary like FOREX.com. While both brokers offer dictionaries with over 50 investing terms, FOREX.com’s broader educational offerings earn it a rating of 4.5 stars for education, compared to TMGM's 3.5 stars. This leads to FOREX.com being ranked significantly higher at #4 in the education category by ForexBrokers.com, while TMGM trails behind at #54, out of a total of 62 brokers evaluated.
| Feature |
FOREX.com
|
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 62 of the best forex brokers, our research and account testing finds that FOREX.com is better than TMGM. FOREX.com finished with an overall rank of #5, while TMGM finished with an overall rank of #37.
FOREX.com is a trusted brand that delivers an excellent trading experience for forex and CFDs traders across the globe. It offers a wide range of markets and provides an impressive suite of proprietary platforms – alongside limited access to MetaTrader.
| Feature |
FOREX.com
|
TMGM
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 83 |
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Both FOREX.com and TMGM do not offer the ability to buy actual (delivered) cryptocurrency, but they both provide the option to trade cryptocurrency derivatives.
In comparing online brokers FOREX.com and TMGM for deposit and withdrawal options, FOREX.com supports ACH or SEPA transfers, uses PayPal, Visa or Mastercard, and bank wires but does not offer Skrill, while TMGM does not provide ACH or SEPA transfers but accepts Skrill and shares the ability to transact via PayPal, Visa or Mastercard, and bank wires.
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 | FOREX.com | TMGM | |
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| Trust Score | 99 | 83 | |
| Winner | check_circle | ||
| Review | FOREX.com Review | TMGM Review |
| Broker Screenshots | FOREX.com | TMGM | |
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| Regulation | FOREX.com | TMGM | |
|---|---|---|---|
| Trust Score | 99 | 83 | |
| Year Founded | 1999 | 2013 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | 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 | 1 | 2 |
| Tier-1 Licenses (Highly Trusted) | FOREX.com | TMGM | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | No | Yes | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No |
| Tier-2 Licenses (Trusted) | FOREX.com | 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 | FOREX.com | TMGM | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 5500 | 12000 | |
| Forex Pairs (Total) | 91 | 62 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | No | |
| Social Trading / Copy Trading | No | 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 | FOREX.com | TMGM | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.4 | 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 | No | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | FOREX.com | TMGM | |
|---|---|---|---|
| Minimum Deposit | $100 | $100 | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | FOREX.com | TMGM | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | FOREX.com | TMGM | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 20 | 7 | |
| Charting - Indicators / Studies (Total) | 88 | 30 | |
| Charting - Drawing Tools (Total) | 239 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | FOREX.com | 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 | 88 | 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 | FOREX.com | TMGM | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | FOREX.com | 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 | FOREX.com | 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 | FOREX.com Review | TMGM Review |
| Overall | FOREX.com | TMGM | |
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| Trust Score | 99 | 83 | |
| Winner | check_circle | ||
| Review | FOREX.com Review | TMGM Review |
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