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 |
FOREX.com stands out with multiple execution methods and a variety of account types, making it a favorite among market maker brokers. However, its fees can be a bit steep compared to the industry norm, especially for U.S. traders. The Standard account, which is the sole option for MetaTrader clients, presents average spreads of 1.4 on the EUR/USD. This account may appeal to those who prefer market-maker execution despite higher spreads. The RAW account offers lower spreads, typically around 0.13 pips for the EUR/USD, but comes with trade commissions, making it ideal for active traders who enjoy discounts on high volumes. FOREX.com is rated 4.5 stars for commissions and fees, securing the #13 spot among 62 brokers reviewed by ForexBrokers.com.
Meanwhile, TMGM provides a more streamlined approach with its Edge account, which features competitive commissions and low spreads. Although recent spread data for EUR/USD was unavailable, TMGM’s Edge account is favored for its low commission of just $3.50 per side. Islamic traders requiring Sharia-compliant options must choose the Edge account, as swap-free accounts are not offered with the Classic option. TMGM earns a solid 4-star rating and ranks #36 in the Commissions and Fees category among 62 brokers listed by ForexBrokers.com.
In summary, both brokers offer unique value propositions. FOREX.com shines with its advanced trading suite and spread options through the RAW account, but may not be the cheapest option unless trading substantial volumes. On the other hand, TMGM offers simpler, cost-effective trading through its Edge account, appealing to those who prefer low commissions. While FOREX.com ranks higher overall, both brokers serve different trader preferences and strategies with their distinct offerings.
| 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 it comes to mobile trading apps, both FOREX.com and TMGM offer availability on iPhone and Android devices, providing traders the flexibility to stay connected on the go. Both platforms support stock and forex price alerts and allow users to draw trend lines on their charts. However, FOREX.com stands out with the ability to sync watchlists across devices, offering a seamless experience between mobile and online platforms. This feature is not available with TMGM. FOREX.com also leads in providing more technical studies, offering 88 compared to TMGM's 30, which can be invaluable for traders who rely on in-depth analysis.
In terms of usability, both apps allow viewing of multiple time frames and auto-save chart drawings, ensuring a user-friendly experience. You can create watchlists with real-time quotes on both platforms. FOREX.com takes the lead in user satisfaction, boasting a 5-star rating for its mobile trading experience and ranking 3rd out of 62 brokers on ForexBrokers.com. Meanwhile, TMGM, rated 4 stars, sits at the 47th rank, indicating a gap in user satisfaction and features offered. Overall, while both apps cater to traders' core needs, FOREX.com offers a more comprehensive and integrated 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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